FORM 10-QSB

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D. C. 20549


             QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


                      For the quarter ended: June 30, 2001

                       Commission file number: 000-28169

                  Electrical Generation Technology Corporation
        -----------------------------------------------------------------
             (exact name of registrant as specified in its charter)

                  Utah                            75-2184926
         ----------------------                 --------------
         (State of Incorporation)                (IRS ID No.)


     24165 IH 10 West, Suite 217125, San Antonio, Texas          75257
   ------------------------------------------------------      ---------
       (Address of principal executive offices)               (Zip code)

        Registrant's telephone number, including area code: 210-697-8550

Indicate by check mark whether the registrant (1) hasfiled all documents and
reports required to be filed by Section 12, 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding twelve 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 [ ].


Shares of common stock outstanding at June 30, 2001:

                    12,113,170



<PAGE>




                                TABLE OF CONTENTS



PART I - FINANCIAL INFORMATION                                       Page Number


         Item  1. Financial Statements                                  1 - 6
                           These have nor been reviewed by an
                           Independent Certified Public Accountant

         Item  2. Managements's Discussion and Analysis
                           of Financial Condition and Results of
                           Operations                                  7 - 10


PART II - OTHER INFORMATION                                               11


<PAGE>

                  ELECTRICAL GENERATION TECHNOLOGY CORPORATION

                                 BALANCE SHEETS
                       June 30, 2001 and December 31, 2000



                                     ASSETS
<TABLE>
<S>                                                                <C>            <C>
                                                                   June 30, 2001  Dec 31, 2000
                                                                   -------------  -------------
CURRENT ASSETS:
    Cash                                                                $17,321             $0

                                                                   -------------  -------------
        Total current assets                                             17,321              0


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

TOTAL ASSETS                                                            $17,321             $0
                                                                   =============  =============




                      LIABILITIES AND STOCKHOLDERS' EQUITY


LIABILITIES
  Cash overdraft                                                                           170
  Accounts payable                                                       11,823         11,823
  Accrued liabilities                                                    63,164         59,104
  Advances and notes - shareholders                                      89,100         89,100
                                                                   -------------  -------------
        Total Current Liabilities                                      $164,087       $160,197

STOCKHOLDERS' EQUITY
    Preferred stock, $1.00 par value, 30,000 and zero
          shares issued and outstanding at June 30, 2001 and
          December 31, 2000 respectively                                     30              0
    Common stock, $0.001 par value, 12,113,170 and 12,089,670
          shares issued and outstanding at June 30, 2001 and
          December 31, 2000 respectively                                 12,114         12,090
    Additional paid-in-capital                                          616,415        517,969
    Accumulated Deficit                                                (775,325)      (690,256)
                                                                   -------------  -------------
        Total Stockholders' Equity                                     (146,766)      (160,197)
                                                                   -------------  -------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                               17,321              0
                                                                   =============  =============
</TABLE>



                             See accompanying notes

                                        1

<PAGE>
                  ELECTRICAL GENERATION TECHNOLOGY CORPORATION

                             STATEMENT OF OPERATIONS

            Three Months and Six Months Ended June 30, 2001 and 2000


<TABLE>
<CAPTION>
                                             Three months     Three months      Six months      Six months
                                                ended           ended             ended           ended
                                             June 30, 2001   June 30, 2000     June 30, 2001   June 30, 2000
                                             -------------   --------------   --------------   -------------
<S>                                           <C>            <C>               <C>             <C>
REVENUE:                                           $  -0-           $   -0-          $  -0-         $   -0-

OPERATING EXPENSE:
    Consulting                                     24,117                            46,674          65,200
    Interest expense                                2,053                             4,061
    General & administrative                       25,539          60,627            34,335          63,914
                                             -------------   -------------     -------------   -------------
        Total Operating Expense                    51,709          60,627            85,070         129,114

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

NET LOSS                                         ($51,709)       ($60,627)         ($85,070)      ($129,114)
                                             =============   =============     =============   =============


Primary
Weighted average shares outstanding            12,111,830      12,017,670        12,101,442      12,017,670
                                             =============   =============     =============   =============
LOSS PER SHARE - primary and diluted               ($0.00)         ($0.01)           ($0.01)         ($0.01)
                                             =============   =============     =============   =============

Fully diluted:
Weighted average shares outstanding            12,261,830      12,017,670        12,151,442      12,017,670
                                             =============   =============     =============   =============
LOSS PER SHARE - primary and diluted               ($0.00)         ($0.01)           ($0.01)         ($0.01)
                                             =============   =============     =============   =============
</TABLE>




                             See accompanying notes

                                        2

                                     <PAGE>
                  ELECTRICAL GENERATION TECHNOLOGY CORPORATION

            STATEMENT OF STOCKHOLDERS' EQUITY AND ACCUMULATED DEFICIT

                 Period from December 31, 1999 to June 30, 2001


<TABLE>
<CAPTION>
                                 Preferred Preferred      Common       Common      Paid In             Accumulated
                                  Shares   Amount         Shares       Amount      Capital        Deficit       Total
                                 ------------------    -------------------------------------------------------------------
<S>                              <C>        <C>         <C>           <C>          <C>         <C>             <C>
Balance, December 31, 1999              0       $0        8,557,670        8,558     $150,516      ($402,859)   ($243,784)

Shares issued for services                                3,275,000        3,275       76,925                     $80,200

Shares issued for debt                                      200,000          200      238,585                    $238,785

Shares issued for cash                                       57,000           57       51,943                     $52,000

Net loss                                                                                            (287,397)   ($287,397)

                                 -----------------------------------------------------------------------------------------
Balance, December 31, 2000              0        0       12,089,670       12,090      517,969       (690,256)    (160,196)
                                 =========================================================================================


Shares issued for cash             10,000       10           21,500           22       46,468                     $46,500

Net Loss - three months
    ended March 31, 2001                                                                             (33,361)    ($33,361)


                                 -----------------------------------------------------------------------------------------
Balance, March 31, 2001            10,000       10       12,111,170       12,112      564,437       (723,617)    (147,057)
                                 =========================================================================================


Shares issued for cash             20,000       20            2,000            2       51,978                     $52,000

Net Loss - three months
    ended June 30, 2001                                                                              (51,709)    ($51,709)


                                 -----------------------------------------------------------------------------------------
Balance, June 30, 2001             30,000       30       12,113,170       12,114      616,415       (775,326)    (146,766)
                                 =========================================================================================
</TABLE>



                             See accompanying notes

                                        3

<PAGE>
                  ELECTRICAL GENERATION TECHNOLOGY CORPORATION

                             STATEMENT OF CASH FLOWS

            Three Months and Six Months Ended June 30, 2001 and 2000

<TABLE>
<S>                                                  <C>            <C>              <C>               <C>
                                                      Three months     Three months      Six months      Six months
                                                         ended           ended             ended           ended
                                                      June 30, 2001   June 30, 2000     June 30, 2001   June 30, 2000
                                                      -------------   --------------   --------------   -------------
CASH FLOWS FROM OPERATING ACTIVITIES:
    Net loss                                              ($51,709)       ($60,627)         ($85,070)      ($129,114)
    Adjustments to reconcile net loss to net
            cash (used) by operating activities:
                Current assets                                              (1,750)                           (1,750)
                Accounts payable                             4,061           8,133             4,061           9,162
                Stock issued for services                                                                     64,200

                                                      -------------   -------------     -------------   -------------
NET CASH (USED) BY OPERATING ACTIVITIES:                   (47,648)        (54,244)          (81,009)        (57,502)


CASH FLOWS FROM INVESTING ACTIVITIES:
    Increase (decrease) in payable - shareholders           (2,008)         35,000                 0          50,000

CASH FLOWS FROM FINANCING ACTIVITIES:
    Sale of common stock and preferred stock                52,000               0            98,500               0

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

NET INCREASE IN CASH                                        $2,344        ($19,244)          $17,491         ($7,502)

CASH, BEGINNING OF PERIOD                                   14,977          11,742              (170)            -0-
                                                      -------------   -------------     -------------   -------------

CASH, END OF PERIOD                                        $17,321         ($7,502)          $17,321         ($7,502)
                                                      =============   =============     =============   =============
</TABLE>




                             See accompanying notes

                                        4
<PAGE>

                  ELECTRICAL GENERATION TECHNOLOGY CORPORATION

                          NOTES TO FINANCIAL STATEMENTS
                                  June 30, 2001

Note A - Nature of Business and Summary of Significant Accounting Policies:
---------------------------------------------------------------------------
History:
-------
The Company was organized under the laws of the State of Utah on August 3, 1983
under the name of Park Avenue, Inc. and on June 6, 1994 changed its name to
Electrical Generation Technology Corporation. The Company has been dormant for
the last three years but has signed two letters of intent to purchase assets of
a mortgage brokerage business and the assets of company with a fire retardant
product.

Basis of Accounting:
It is the Company's policy to prepare its financial statements on the accrual
basis of accounting in conformity with generally accepted accounting principles.
Sales are recorded as income in the period in which they are earned and expenses
are recognized in the period in which the related liability is incurred.

Revenue Recognition:
Revenue is recognized when work is performed and amount invoiced.

Cash and Cash Equivalents:
For purposes of the statement of cash flows, the Company considers all highly
liquid debt instruments with a maturity of three months or less to be cash
equivalents.

Loss per Common Share:
Loss applicable to common share is based on the weighted average number of
shares of common stock outstanding during the year.

Accounting Estimates:
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make certain estimates and
assumptions that affect the amount reported in the financial statements and
accompanying notes. Actual results could differ from those estimates.

Income Tax:
The Company is subject to the greater of federal income taxes computed under the
regular system or the alternative minimum tax (ATM) system. The Company uses an
asset and liability approach for the accounting and financial reporting of
income tax. Under this method, deferred tax assets and liabilities are
determined based on temporary differences between the financial carrying amounts
and the tax bases of assets and liabilities using enacted tax rates in effect in
the years in which the temporary differences are expected to reverse.


                                       5
<PAGE>
                  ELECTRICAL GENERATION TECHNOLOGY CORPORATION

                          NOTES TO FINANCIAL STATEMENTS
                                  June 30, 2001

Note B - Stockholders' Equity:

Common Stock:
The Company is authorized to issue 50,000,000 common shares of stock at a par
value of $0.001 per share. These shares have full voting rights. At June 30,
2001 and December 31, 2000 there were 12,113,170 and 12,089,670 shares
outstanding respectively.

The Company has not paid a dividend to its shareholders.

Preferred Stock:

The Company is authorized to issue 20,000,000 preferred shares of stock at a par
value of $1.00. At June 30, 2001 and December 31, 2000 there were 30,000 and
zero shares outstanding respectively.

Note C - Income Taxes:

The Company had net operating losses totaling of $33,361 for the three months
ended June 30, 2001 and a net operating loss of $405,745 to carryforward against
operating income. No deferred tax asset has been recognized for the operating
loss as any valuation allowance would reduce the benefit to zero.

Note D - Going Concern:

The Company has minimal capital resources available to meet obligations expected
to be incurred given that it is a start up enterprise. Accordingly, the
Company's continued existence is dependent upon the successful operation of the
Company's plan of operations, selling common stock in the Company, or obtaining
financing. Unless these conditions among others are met, there is substantial
doubt that the Company may be unable to continue as a going concern.

                                       6

<PAGE>


Item 2:  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS.


Electrical Generation Technology Corporation (the "Company"), a Utah Corporation
was incorporated under the name of Park Avenue, Inc. on August 3, 1983. The
Company changed the name to Electrical Generation Technology Corporation on June
6, 1994. The company engaged in operations as an engineering company for
electrical instrumentation and utility construction projects. EGT's past
customers have been federal, state and municipal governments. The scope of
projects completed has ranged from wastewater treatment plants, sludge plants,
and power generation plants to various military applications of electrical
installations. The company has had no new contracts in the last four years.

         EGT has designed and patented the Hydrogen Ignition Power Plant, a
solar powered system, which produces large quantities of electrical power while
reducing the CO 2, emissions normally found in coal-fired electrical plants,
resulting in a cleaner environment. EGT's work in electronics and logic control
systems led to new developments in the technology now known as
optoelectronics-the marriage of light and electricity. The marketing of this
technology has not begun.

         On November 17, 1999 the Company filed form 10SB12G with the Securities
and Exchange Commission. The application was approved in December of 1999. In
order to resume trading on the OTC Bulletin Board, on March 5, 2000 the Company
filed form 15c2-11 with NASD Regulation. The application is pending approval.

         Today the Company has a clear growth strategy to acquire high quality
lodging assets, at attractive prices in prime urban and resort locations, which
have the potential for significant capital appreciation. While the Company
directs its focus towards mergers and acquisitions of suitable companies and
lodging properties, The Company will continue development of an Environmental
System, a comprehensive waste-to-energy program, accomplished by applying
new-patented technology and systems design to solid waste management and
wastewater treatment. The Environmental System could produce large quantities of
usable electric power, produce pure water, and could significantly reduce the
need for landfill. The Company will accomplish this by spinning off the
Environmental System into a separate company involved in the field of
Environmental Services. At the time of the spin off the Company will contribute
its name to the new company and take on a hospitality name. The main focus of
the Environmental Services Company will be the acquisition of water rights and
distributions systems while continuing work on additional designs and patens
related to the Hydrogen Ignition Power Plant and the Environmental System.
Through consolidation and expansion of companies and properties the Company
intends to maximize net profits providing for a higher rate of return to
stockholders.

         The Company's strategy will be to acquire full-service, luxury and
business, lodging properties where attention to quality should contributes to
high levels of guest satisfaction and superior returns. The Company will attempt
to establish a significant presence in the luxury lodging market.



                                       7
<PAGE>

         The Company believes our high-end strategy will enhance performance
increasing occupancy and average daily room rates. By focusing on urban,
resort/convention and airport properties in top markets we believe we can help
ensure above average room demand, limit competition and, have the greatest
opportunities for asset appreciation.

         The Company believes that nothing is more important than branding in
attracting customers. The Company intends to acquire the best brands in the
industry. Our multi-brand strategy will help capture brand-loyal travelers while
expanding our acquisition possibilities.

         Management of our properties will contribute significantly in our
strategy of operating luxury properties where attention to detail and quality
services contributes to high levels of guest satisfaction and superior returns.
The Company will seek out the best in management companies to assist in this
regard.

         Mergers and acquisitions will be the financial portal for the Company
and will serve as the primary basis for the Company's initial revenue and
profits. Through the acquisition of suitable properties and companies with
long-term seasoned management and a profitable operating history, the Company
believes it could build a base to increase stockholders equity.

         The Company intends to finance its initial acquisitions through
conventional mortgage debt. The properties could be initially financed on an
interim loan basis. Initial terms may be interest only for 2 years at market
spreads over Libor. With the continued downturn pressure on rates, the Company
believes initial rates will be favorable. As rates are expected to continue to
drop the Company will then negotiate long-term fixed rate permanent financing,
which should allow the Company to lock in low fixed rates for up to 10 years,
allowing the Company to maximize return on investment.

         While waiting on approval of the Company's 15c2-11 filed with NASD
Regulation, the Company has continued its efforts to secure senior debt
financing and mezzanine financing for the Company's acquisitions of lodging
properties. The Company has additionally finalized an agreement with a leading
management company to manage the Company's properties.

         On March 31, 2001 the Company interned into an agreement with Mr. Bruce
Arinaga, among other things the agreement retains Mr. Arinaga to assist the
Company in arranging loans for the acquisition of specifically identified and
controlled hotel assets, assist the Company in various alternative strategies,
which may be implemented in order to raise capital for projects, assist the
Company in establishing achievable financing terms, render advise to the Company
as to the values and financial implications of various strategies of finance.
The agreement further provides for an employment agreement to be entered into
between the Company and Mr. Arinaga, wherein Mr. Arinaga will serve as President
and Director of the Company. That agreement is under negotiation at this time.
There are currently no disagreement between the Company and Mr. Arinaga
regarding the agreement, therefore it is anticipated that the agreement will be
completed soon. Mr. Arinaga's qualifications are as follows:

         Bruce M. Arinaga has recently served as President and Chief Operating
Officer of a Canadian property firm from 1996-1998. He is a US citizen and
received his business and finance degrees from the University of Southern

                                       8
<PAGE>

California and the New York University; he is also a Certified Public
Accountant.

         After working in the audit and consulting technology group at Arthur
Young & Company in California in 1984, Mr. Arinaga started and devoted his
career in investment banking, finance and management, and has held a number of
senior managerial positions with international companies, where he acquired
extensive investment, management, strategic development and planning, marketing,
and finance experience.


National Housing Partnership (1985 - 1987)

         In 1985, Mr. Arinaga joined National Housing Partnership in Washington
DC, where he arranged and managed over 25 joint ventures and alliances with a
total value of US$500 million in New York, Florida, Arizona, New Jersey,
California and Washington, DC. He was also responsible for the restructuring and
work out of over $500 million of Small Business Administration (SBA) loans
secured by corporate and real estate throughout the US.

Prudential Insurance Company of America  (1987 - 1990)

         Mr. Arinaga oversaw the apartment investment portfolio of Prudential in
the greater Mid-Atlantic region with a four-member team. He was involved in
direct acquisition, joint ventures, convertible, subordinated and participating
debt, senior debt and forward commitments and pre-sales, with a total value of
in excess of US$800 million. While with the Prudential Mr. Arinaga was involved
in the development of over 714 multi-family units in Ballston, Virginia and the
purchase of two portfolios of multi-family apartments each totaling over 6,000
units in Arizona, California, Florida, New Jersey, Maryland, North Carolina,
South Carolina and Virginia.

Independent Investment and Advisory Activities (1991-Present)

         In 1990, Mr. Arinaga relocated to Honolulu, Hawaii, to join Venture
Capital Hawaii, Ltd., where he assumed the role of Vice President and Director
of Marketing advising Japanese clients on corporate and other acquisitions, as
well as investing a pool of capital in various start up and small growth
companies. He also oversaw the marketing efforts for the entire company and
served CFO and marketing roles in various portfolio companies.

         In the ensuing period, he founded his own company, which acted as an
investment firm involved in the acquisition, financing and restructuring of
various companies and projects with a value in excess of US$250 million. He
converted three apartment buildings in Honolulu to condominiums totaling over
$15 million. He also undertook an advisory and consulting role on two REIT's
that were eventually floated and now have a market capitalization in excess of
US$3 billion.
         In 1996 Mr. Arinaga sold his company to a Canadian property group and
agreed to assist the company's growth on an interim basis. Mr. Arinaga served as
President and COO, overseeing the company's dramatic growth. He took the company
from one office in Vancouver, to activities in Toronto and the United States.
Projects have included investments and corporate restructuring and merger and
acquisition work with a value in excess of US$500 million. Mr. Arinaga was
directly involved in the financing and development of a mixed-use project in
Vancouver with a value in excess of $200 million, which included residential,
hotel, office and retail components. He was also involved in a joint venture
with Brookfield Properties in Toronto to develop a project with over 500 units.

         From 1998 through 2000, Mr. Arinaga was involved in the acquisition and
renovation of over 2,121 apartment units. He has been involved with lenders such
as GE Capital, GMAC, RFC, Bank of Nova Scotia, TD Bank and SCIC.

                                       9
<PAGE>

         Because the Company's plan of finance largely relies on the Company's
ability to resume trading, and management believes it is essential in managing
short-term debt, the Company has identified several properties which are
available to the Company for acquisition but intends to acquire these properties
only after trading resumes. The Company believes its ability to manage
short-term debt and lower risk makes it essential to operate under this
guideline. The Company intends to use short-term debt and equity funding for its
initial acquisition of properties, then shortly thereafter replace the funding
with credit line debt established against the Company's market capitalization
value. Once the Company has increased its share price the Company intends to do
an offering to reduce a substantial portion of debt incurred on initial
acquisitions. Therefore, the resumption of trading is imperative in order for
the Company to meet its financing plans.

The Company understands its shareholders concerns and desire to resume trading
and will continue to work diligently whit NASD in order to resume trading. To
the Company's knowledge there is no reason why the Company should not be trading
soon.
                                       10

<PAGE>


PART II.     OTHER INFORMATION


Item  1.     Legal Proceedings.

                  The Company is not involved in any legal proceedings.

Item  2.     Changes in Securities.

                  Registrant has made no changes in its securities.

Item  3.     Defaults Upon Senior Securities.

                Registrant has no senior securities and accordingly no defaults.

Item  4.     Submission of Matters to a Vote of Security Holders.

                  Registrant submitted no matters to a vote of security holders.

Item  5.     Other Information.

                  None.

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

                  None.

                                       11
<PAGE>






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 hereunto duly authorized.





                   Electrical Generation Technology Corporation
                   --------------------------------------------
                    (Registrant)

                                       12
<PAGE>