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



FORM 10-QSB



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

For the quarterly period ended September 30, 2002

Commission File Number: 000-26765

Goolu, Inc. (A Development
  Stage Company)
  (Exact name of small business issuer as specified in its charter)



| | Colorado                        | 84-1113058                        | 
| | ------------------------------- | --------------------------------- | 
| | (State of other jurisdiction of | (IRS Employer Identification No.) | 
| | incorporation or organization)  |                                   | 



8th Floor, No. 28 Sec. 3 Roosevelt Road, Taipei,
  Taiwan, R.O.C.
  (Address of principal executive offices including zip code)



604-640-6357
  (Issuer's telephone number)



Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 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___

As of September 30, 2002, the Registrant had 18,548,100 shares of common stock, no par value per share, outstanding.

Transitional Small Business Disclosure Format (check one):     Yes __
             No X



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INDEX

|         |                                                       |                                                     | Page   | 
|-------- | ----------------------------------------------------- | --------------------------------------------------- | ------ | 
|         |                                                       |                                                     | Number | 
|         |                                                       |                                                     |        | 
|Part I.  | Financial Information                                 |                                                     |       
|         |                                                       |                                                     |        | 
|         | Item I. Financial Statements                          |                                                     |       
|         |                                                       |                                                     |        | 
|         |                                                       | Balance Sheets as of September 30, 2002 (Unaudited) |        | 
|         |                                                       | and December 31, 2001                               | 2      | 
|         |                                                       |                                                     |        | 
|         |                                                       | Statements of Operations, Three Months              |        | 
|         |                                                       | Ended September 30, 2002 and 2001 (Unaudited)       | 3      | 
|         |                                                       |                                                     |        | 
|         |                                                       | Statements of Operations, Nine Months               |        | 
|         |                                                       | Ended September 30, 2002 and 2001 (Unaudited)       | 4      | 
|         |                                                       |                                                     |        | 
|         |                                                       | Statements of Cash Flows, Nine Months               |        | 
|         |                                                       | Ended September 30, 2002 and 2001 (Unaudited)       | 5      | 
|         |                                                       |                                                     |        | 
|         |                                                       | Notes to Financial Statements                       | 6      | 
|         |                                                       |                                                     |        | 
|         | Item 2. Management's Discussion and Analysis
      of | 7                                                   |       
|         |                                                       | Financial Conditions and Results of Operations      |        | 
|         |                                                       |                                                     |       
|Part II. | Other Information                                     | 8                                                   |       



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GOOLU, INC. 
  (A DEVELOPMENT STAGE COMPANY)

BALANCE SHEETS

ASSETS

|                                                      |   | September 30, |   |   | December
        31, |  
|----------------------------------------------------- | - | ------------- | - | - | -------------------- | -
|                                                      |   | 2002          |   |   | 2001                 |  
|                                                      |   | (Unaudited)   |   |   | (See Note
        1) |  
|                                                      |   |               |   |   |                      |  
|                                                      |   |               |   |   |                      |  
|Current Assets                                        | $ | -             |   | $ | -                    |  
|                                                      |   |               |   |   |                      |  
|Total
        Assets                                  | $ | -             |   | $ | -                    |  
|                                                      |   |               |   |   |                      |  
|                                                      |   |               |   |   |                      |  
|                                                      |   |               |   |   |                      |  
|LIABILITIES AND STOCKHOLDERS' (DEFICIT)               |   |               |   |   |                      |  
|                                                      |   |               |   |   |                      |  
|Current Liabilities:                                  |   |               |   |   |                      |  
|Accounts
        payable                              | $ | 3,486         |   | $ | 8,655                |  
|Accounts
        payable, related party               |   | 54,464        |   |   | 18,073               |  
|                                                      |   |               |   |   |                      |  
|Total
        Current Liabilities                     |   | 57,950        |   |   | 26,728               |  
|                                                      |   |               |   |   |                      |  
|                                                      |   |               |   |   |                      |  
|Stockholders' (Deficit):                              |   |               |   |   |                      |  
|Preferred Stock, no par value,                        |   |               |   |   |                      |  
|10,000,000
        shares authorized                  |   |               |   |   |                      |  
|none
        issued and outstanding                   |   | -             |   |   | -                    |  
|Common Stock, no par value,                           |   |               |   |   |                      |  
|800,000,000
        shares authorized                 |   |               |   |   |                      |  
|18,548,100
        shares issued and                  |   |               |   |   |                      |  
|outstanding                                           |   | 1,600         |   |   | 1,600                |  
|Additional paid-in capital                            |   | 7,916         |   |   | 7,916                |  
|Accumulated (deficit) during                          |   |               |   |   |                      |  
|development
        stage                             |   | (67,466       | ) |   | (36,244              | )
|                                                      |   |               |   |   |                      |  
|Total Stockholders' (Deficit)                         |   | (57,950       | ) |   | (26,728              | )
|                                                      |   |               |   |   |                      |  
|Total Liabilities
        and Stockholders' (Deficit) | $ | -             |   | $ | -                    |  
|                                                      |   |               |   |   |                      |  

The accompanying notes are an integral part of the financial statements.

3

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GOOLU, INC. 
  (A DEVELOPMENT STAGE COMPANY)

STATEMENT OF OPERATIONS 
  (Unaudited)

|                                              |   | Three Months Ended |  
|--------------------------------------------- | - | ------------------ | -
|                                              |   | September 30,      |  
|                                              |   | 2002               |  
|                                              |   |                    |  
|                                              |   |                    |  
|Revenues                                      | $ | -                  |  
|                                              |   |                    |  
|                                              |   |                    |  
|Operating Expenses:                           |   |                    |  
|Audit fees                                    |   | 900                |  
|Legal fees                                    |   | 4,649              |  
|Professional
      fees                       |   | 5,000              |  
|Travel                                        |   | 4,705              |  
|Other                                         |   | 1,709              |  
|                                              |   |                    |  
|Total Operating
      Expenses                |   | 16,963             |  
|                                              |   |                    |  
|                                              |   |                    |  
|Net Loss                                      | $ | (16,963            | )
|                                              |   |                    |  
|                                              |   |                    |  
|Per Share                                     | $ | nil                |  
|                                              |   |                    |  
|                                              |   |                    |  
|Weighted Average Number of Shares Outstanding |   | 18,548,100         |  
|                                              |   |                    |  



The accompanying notes are an integral part of the financial statements.

4

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GOOLU, INC. 
  (A DEVELOPMENT STAGE COMPANY)
  (formerly Essex Capital Corporation)

STATEMENT OF OPERATIONS 
  (Unaudited)

|                                              |   |                   |   |   |                    |   |   | For the period |  
|--------------------------------------------- | - | ----------------- | - | - | ------------------ | - | - | -------------- | -
|                                              |   |                   |   |   |                    |   |   | from March 15, |  
|                                              |   |                   |   |   |                    |   |   | 1989 (date of  |  
|                                              |   | Nine Months Ended |   |   | inception) through |  
|                                              |   | September 30,     |   |   | September 30,      |   |   | September 30,  |  
|                                              |   | 2002              |   |   | 2001               |   |   | 2002           |  
|                                              |   |                   |   |   |                    |   |   |                |  
|                                              |   |                   |   |   |                    |   |   |                |  
|Revenues                                      | $ | -                 |   | $ | -                  |   | $ | -              |  
|                                              |   |                   |   |   |                    |   |   |                |  
|                                              |   |                   |   |   |                    |   |   |                |  
|Operating Expenses:                           |   |                   |   |   |                    |   |   |                |  
|Audit fees                                    |   | 1,900             |   |   | 1,538              |   |   | 14,263         |  
|Legal fees                                    |   | 10,228            |   |   | 260                |   |   | 19,089         |  
|Professional fees                             |   | 5,000             |   |   | -                  |   |   | 5,000          |  
|Travel                                        |   | 12,185            |   |   | -                  |   |   | 24,866         |  
|Other                                         |   | 1,909             |   |   | 300                |   |   | 4,248          |  
|                                              |   |                   |   |   |                    |   |   |                |  
|Total Operating
      Expenses                |   | 31,222            |   |   | 2,098              |   |   | 67,466         |  
|                                              |   |                   |   |   |                    |   |   |                |  
|                                              |   |                   |   |   |                    |   |   |                |  
|Net Loss                                      | $ | (31,222           | ) | $ | (2,098             | ) | $ | (67,466        | )
|                                              |   |                   |   |   |                    |   |   |                |  
|                                              |   |                   |   |   |                    |   |   |                |  
|Per Share                                     | $ | nil               |   | $ | nil                |   | $ | nil            |  
|                                              |   |                   |   |   |                    |   |   |                |  
|                                              |   |                   |   |   |                    |   |   |                |  
|Weighted Average Number of Shares Outstanding |   | 18,548,100        |   |   | 18,548,100         |   |   | 18,548,100     |  
|                                              |   |                   |   |   |                    |   |   |                |  

The accompanying notes are an integral part of the financial statements.

5

---

GOOLU, INC. 
  (A DEVELOPMENT STAGE COMPANY)

STATEMENT OF CASH FLOWS 
  (Unaudited)

|                                                  |   |                   |   |   |                    |   |   | For the period |  
|------------------------------------------------- | - | ----------------- | - | - | ------------------ | - | - | -------------- | -
|                                                  |   |                   |   |   |                    |   |   | from March 15, |  
|                                                  |   |                   |   |   |                    |   |   | 1989 (date of  |  
|                                                  |   | Nine Months Ended |   |   | inception) through |  
|                                                  |   | September 30,     |   |   | September 30,      |   |   | September 30,  |  
|                                                  |   | 2002              |   |   | 2001               |   |   | 2002           |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|Cash Flows from Operating Activities:             |   |                   |   |   |                    |   |   |                |  
|Net (loss)                                        | $ | (31,222           | ) | $ | (2,098             | ) | $ | (67,466        | )
|Adjustments to reconcile
      net loss to        |   |                   |   |   |                    |   |   |                |  
|cash used
      in operating activities:          |   |                   |   |   |                    |   |   |                |  
|Increase
      (decrease) in accounts payable     |   | (5,169            | ) |   | (1,294             | ) |   | 3,486          |  
|Increase
      in accounts payable, related party |   | 36,391            |   |   | 3,392              |   |   | 54,464         |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|Net Cash (Used in) Operating
      Activities     |   | -                 |   |   | -                  |   |   | (9,516         | )
|                                                  |   |                   |   |   |                    |   |   |                |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|Cash Flows from Investing Activities              |   |                   |   |   |                    |   |   |                |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|Cash Flows from Financing Activities:             |   |                   |   |   |                    |   |   |                |  
|Issuance
      of common stock                    |   | -                 |   |   | -                  |   |   | 1,600          |  
|Increase
      in additional paid-in capital      |   | -                 |   |   | -                  |   |   | 7,916          |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|Net Cash Provided by Financing
      Activities   |   | -                 |   |   | -                  |   |   | 9,516          |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|Increase in Cash                                  |   | -                 |   |   | -                  |   |   | -              |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|Cash, Beginning of Period                         |   | -                 |   |   | -                  |   |   | -              |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|Cash, End of Period                               | $ | -                 |   | $ | -                  |   | $ | -              |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|Interest Paid                                     | $ | -                 |   | $ | -                  |   | $ | -              |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|                                                  |   |                   |   |   |                    |   |   |                |  
|Income Taxes Paid                                 | $ | -                 |   | $ | -                  |   | $ | -              |  
|                                                  |   |                   |   |   |                    |   |   |                |  

The accompanying notes are an integral part of the financial statements.

6

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GOOLU, INC. 
  (A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS 
  September 30, 2002 (Unaudited)

(1) Condensed Financial Statements

The financial statements included herein have been prepared
  by Goolu, Inc. (A Development Stage Company) without audit, pursuant to the
  rules and regulations of the Securities and Exchange Commission. Certain information
  and footnote disclosures normally included in the financial statements prepared
  in accordance with generally accepted accounting principles have been condensed
  or omitted as allowed by such rules and regulations, and Goolu, Inc. (A Development
  Stage Company) (A Development Stage Company) believes that the disclosures are
  adequate to make the information presented not misleading. It is suggested that
  these financial statements be read in conjunction with the December 31, 2001
  audited financial statements and the accompanying notes thereto. While management
  believes the procedures followed in preparing these financial statements are
  reasonable, the accuracy of the amounts are in some respect's dependent upon
  the facts that will exist, and procedures that will be accomplished by Goolu,
  Inc. (A Development Stage Company) later in the year.

The management of Goolu, Inc. (A Development Stage Company)
  believes that the accompanying unaudited condensed financial statements contain
  all adjustments (including normal recurring adjustments) necessary to present
  fairly the operations and cash flows for the periods presented.

(2) Basis of Presentation - Going Concern

The accompanying financial statements have been prepared in
  conformity with accounting principles generally accepted in the United States
  of America, which contemplates continuation of the Company as a going concern.
  However, the Company has sustained operating losses since its inception and
  has a net capital deficiency. This fact raises substantial doubt about the Companys
  ability to continue as a going concern. Management is attempting to raise additional
  capital.

In view of these matters, realization of certain of the assets
  in the accompanying balance sheet is dependent upon continued operations of
  the Company, which in turn is dependent upon the Company's ability to meet its
  financial requirements, raise additional capital, and the success of its future
  operations. Management is in the process of attempting to raise additional capital
  and reduce operating expenses. Management believes that its ability to raise
  additional capital and reduce operating expenses provide an opportunity for
  the Company to continue as a going concern.

(4) Stock Split

Effective August 26, 2002 the Company effected a thirty-seven
  for one stock split. All references to stock outstanding have been retroactively
  adjusted as if the split had taken place on the earliest date shown.

7

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ITEM 2

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL 
  CONDITION AND RESULTS OF OPERATIONS

Goolu, Inc. (A Development Stage Company) (the "Company")
  was incorporated under the laws of Colorado on March 15, 1989. Effective August
  1, 2000, the Company changed its name from Essex Capital Corporation to Goolu,
  Inc. (A Development Stage Company) (A Development Stage Company) The Company
  is an inactive entity other than it is looking for a business combination candidate.
  The Company may seek to acquire a controlling interest in such entities in contemplation
  of later completing an acquisition. The Company is not limited to any operation
  or geographic area in seeking out opportunities. Management has not identified
  any particular business or industry within which the Company will seek an acquisition
  or merger. The Company has not conducted, nor have others made available to
  it, market research supporting the viability of the Company's proposed operations.

The Company generated no revenues during the quarter ended
  September 30, 2002, and management does not anticipate any revenues until following
  the conclusion of a merger or acquisition.

The Company's capital is limited. The Company anticipates
  operational costs will be limited until such time as significant evaluation
  work is undertaken regarding prospective mergers or acquisitions.

At September 30, 2002, the Company had no material commitments
  for capital expenditures.







8

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PART II. OTHER INFORMATION

Item 1.   Legal Proceedings

None.

Item 2.   Changes in Securities

None.

Item 3.   Defaults upon Senior Securities

None.

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

None.

Item 5.   Other Information

None.

Item 6.   Exhibits and Reports on Form 8-K





9

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SIGNATURES



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

|                        | Goolu, Inc. (A Development Stage Company)
|----------------------- | -----------------------------------------
|                        |                                          
|                        |                                          
|Date: November 14, 2002 | By                                       





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