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:         March 31, 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 March 31, 2001:

                                                    12,111,170








<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 - 8


PART II - OTHER INFORMATION                                               9














<PAGE>
<TABLE>

<CAPTION>


                  ELECTRICAL GENERATION TECHNOLOGY CORPORATION

                                 BALANCE SHEETS
                      March 31, 2001 and December 31, 2000



                                     ASSETS

                                                                             Mar 31, 2001    Dec 31, 2000
                                                                            --------------  --------------
<S>                                                                         <C>             <C>

CURRENT ASSETS:
    Cash                                                                          $14,977              $0

                                                                            --------------  --------------
        Total current assets                                                       14,977               0


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

TOTAL ASSETS                                                                      $14,977              $0
                                                                            ==============  ==============




                      LIABILITIES AND STOCKHOLDERS' EQUITY


LIABILITIES
  Cash overdraft                                                                                      170
  Accounts payable                                                                 11,823          11,823
  Accrued liabilities                                                              59,104          59,104
  Advances and notes - shareholders                                                91,108          89,100
                                                                            --------------  --------------
        Total Current Liabilities                                                $162,035        $160,197

STOCKHOLDERS' EQUITY
    Preferred stock, $0.001 par value, 25,000 and zero
          shares issued and outstanding at March 31, 2001 and
          December 31, 2000 respectively                                           10,000               0
    Common stock, $0.001 par value, 12,111,170 and 12,089,670
          shares issued and outstanding at March 31, 2001 and
          December 31, 2000 respectively                                           12,112          12,090
    Additional paid-in-capital                                                    554,447         517,969
    Accumulated Deficit                                                          (723,617)       (690,256)
                                                                            --------------  --------------
        Total Stockholders' Equity                                               (147,058)       (160,197)
                                                                            --------------  --------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                         14,977               0
                                                                            ==============  ==============

</TABLE>









                             See accompanying notes

                                        1
<PAGE>



                  ELECTRICAL GENERATION TECHNOLOGY CORPORATION

                             STATEMENT OF OPERATIONS

                   Three Months Ended March 31, 2001 and 2000



                                                   Three months   Three months
                                                      ended          ended
                                                   Mar 31, 2001   Mar 31, 2000
                                                  --------------  --------------

REVENUE:                                                 $  -0-         $   -0-

OPERATING EXPENSE:
    Consulting                                           22,557          65,200
    General & administrative                             10,804           3,287
                                                  --------------  --------------
        Total Operating Expense                          33,361          68,487

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

NET LOSS                                               ($33,361)       ($68,487)
                                                  ==============  ==============


Weighted average shares outstanding                  12,101,442       8,218,108
                                                  ==============  ==============

LOSS PER SHARE - primary and diluted                     ($0.00)         ($0.01)
                                                  ==============  ==============






















                             See accompanying notes

                                        2
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<TABLE>

<CAPTION>


                  ELECTRICAL GENERATION TECHNOLOGY CORPORATION

            STATEMENT OF STOCKHOLDERS' EQUITY AND ACCUMULATED DEFICIT

                 Period from December 31, 1999 to March 31, 2001



                                        Preferred                    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    10,000            21,500        22         36,478                       $46,500

Net Loss - three months                                                                                  (33,361)       ($33,361)

Rounding                                                                                                                     ($1)

                                ---------------------------------------------------------------------------------  --------------
Balance, March 31, 2001                10,000    10,000        12,111,170    12,112        554,447      (723,617)       (147,058)
                                =================================================================================  ==============

</TABLE>

















                             See accompanying notes

                                        3
<PAGE>

<TABLE>

<CAPTION>

                  ELECTRICAL GENERATION TECHNOLOGY CORPORATION

                             STATEMENT OF CASH FLOWS

                   Three Months Ended March 31, 2001 and 2000


                                                                 Three months    Three months
                                                                    ended           ended
                                                                 Mar 31, 2001    Mar 31, 2000
                                                                --------------  --------------
<S>                                                             <C>             <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
    Net loss                                                         ($33,361)       ($68,487)
    Adjustments to reconcile net loss to net
            cash (used) by operating activities:
                Accounts payable                                                        1,029
                Stock issued for services                                              64,200

                                                                --------------  --------------
NET CASH (USED) BY OPERATING ACTIVITIES:                              (33,361)         (3,258)


CASH FLOWS FROM INVESTING ACTIVITIES:
    Increase in payable - shareholders                                  2,008          15,000

CASH FLOWS FROM FINANCING ACTIVITIES:
    Sale of common stock and preferred stock                           46,500               0

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

NET INCREASE IN CASH                                                  $15,147         $11,742

CASH, BEGINNING OF PERIOD                                                (170)            -0-
                                                                --------------  --------------

CASH, END OF PERIOD                                                   $14,977         $11,742
                                                                ==============  ==============

</TABLE>
















                             See accompanying notes

                                        4

<PAGE>
                  ELECTRICAL GENERATION TECHNOLOGY CORPORATION

                          NOTES TO FINANCIAL STATEMENTS
                                 March 31, 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
                                 March 31, 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 March 31,
2001  and  December  31,  1999  there  were  12,111,170  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 March 31, 2001 and  December  31, 1999 there were 10,000 and
zero shares outstanding respectively.

Note C - Income Taxes:
----------------------
The Company had net  operating  losses  totaling of $33,361 for the three months
ended  March 31,  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.



                                        8

<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.

                                        9

<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)


                                   BY:   /s/ Gary L. Cain
                                      ------------------------------------------
                                             Gary L. Cain
                                   Its: President

DATE:   May 19, 2001
        Dallas, Texas


                                       10