U.S. Securities and Exchange Commission

                         Washington, DC 20549

                             Form 10-QSB

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

           For the quarterly period ended October 31, 2000

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

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

                    Commission File number 0-26853

                     BF ACQUISITION GROUP V, INC.
   ----------------------------------------------------------------
               (Exact name of small business issuer as
                      specified in its charter)
            Florida                            65-0913588
   ----------------------------------------------------------------
           (State of other jurisdiction of     (IRS Employer
   incorporation or organization)              Identification No.)

    319 Clematis Street, Suite 812, West Palm Beach, Florida 33401
   ----------------------------------------------------------------
               (Address of principal executive offices)

                            (561) 655-0665
  -----------------------------------------------------------------
                     (Issuer's telephone number)


   (Former name, former address, and former fiscal year, if changed
                          since last report)

     Check whether the issuer (1) filed all reports required to be
filed by Section 13 or 15 (d) of the Exchange Act during the past
12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.   Yes _X_    No ___

                 APPLICABLE ONLY TO CORPORATE ISSUERS

     State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date:
     As of December 15, 2000, there were 805,000 shares of common
stock, $0.001 par value, issued and outstanding.

     Transitional Small Business Disclosure Format (check one);
 Yes __    No _X__

<PAGE 2>
                     BF ACQUISITION GROUP V, INC.

                           Form 10-QSB Index
                           October 31, 2000
                                                                         Page


Part I: Financial Information...............................................2

     Item 1. Financial Statements ..........................................3

          Balance Sheets-
               October 31,2000 (Unaudited) and
               April 30, 1999 (Unaudited)...................................3

          Statements of Operations -
               Three months ended October 31, 2000 and 1999
               (unaudited) and Six months ended
               October 31, 2000 and 1999 (unaudited)........................4

          Statements of Stockholders' Equity
          From April 15, 1999 through October 31,2000.......................5

          Statements of Cash Flows -
               Three months ended October 31, 2000 and 1999
               (unaudited) and Six months ended
               October 31, 2000 and 1999 (unaudited)........................6

          Notes to Financial Statements ....................................7

     Item 2. Management's Plan of Operation ...............................10

Part II:   Other Information ..............................................11

     Item 1.   Legal Proceedings ..........................................11

     Item 2.   Changes in Securities ......................................11

     Item 3.    Defaults Upon Senior Securities ...........................11

     Item 4.    Submission of Matters to a Vote of Security Holders........11

     Item 5.    Other Information .........................................11

     Item 6.   Exhibits and Reports on Form 8-K ...........................11

Signatures ................................................................11

<PAGE 3>

                                PART I
                        FINANCIAL INFORMATION


Item 1.  Financial Statements


BF ACQUISITION GROUP V, INC.
(A Development Stage Company)
BALANCE SHEET


<TABLE>
<CAPTION>

                                        October 31,         April 30,
                                          2000                2000
                                        ------------      ------------
   <S>                                    <C>                 <C>
                                        (unaudited)
            ASSETS


Current assets:
     Cash and cash equivalents           $   212             $1,082
                                        ------------      -------------


     Total assets                        $   212             $1,082
                                        ============       ============

LIABILITIES AND STOCKHOLDERS' EQUITY


Accrued Expenses                         $   952              $ 650


Stockholders' equity:

  Preferred stock, no par value;
  5,000,000 shares authorized; none
  issued or outstanding                        -                 -
  Common stock $0.001 par value;
  50,000,000 shares authorized,
  795,000 shares issued and
  outstanding at July 31, 2000
  and April 30, 2000, respectively           795                 795
  Additional paid-in capital               3,646               3,646
  Deficit accumulated during the
  development stage                       (5,181)             (4,009)
                                       ------------         -----------

  Total stockholders' equity                (740)                432
                                       ------------         -----------
  Total liabilities and stockholders'
  equity                                 $   212              $ 1,082
                                       =============        ============

</TABLE>

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


<PAGE 4>

BF ACQUISITION GROUP V, INC.
(A Development Stage Company)
STATEMENTS OF OPERATIONS
(unaudited)

<TABLE>
<CAPTION>
                          Three months     Three months      Six months     Six months
                            ended            ended            ended          ended
                          October 31,      October 31,      October 31,   October 31,
                            1999              2000             1999          2000
                          -------------    -------------   ------------   ------------
<S>                          <C>             <C>               <C>            <C>
                           (unaudited)     (unaudited)     (unaudited)     (unaudited)

Revenues                   $  -              $ -              $ -           $ -


General and administrative
expenses                       677             345             1,172           2,022
                          -------------    -------------   -----------    -------------

Loss before income tax
provision                     (677)           (345)           (1,172)          (2,022)


Provision for income taxes      -               -                -              -
                          --------------   -------------   --------------  -------------

Net loss                   $  (677)           $(345)         $(1,172)         $(2,022)
                          =============   ==============   ===========    =============


Basic and diluted loss
per common share:

Basic and diluted loss
per common share           $ (0.0009)        $(0.0004)       $(0.0015)        $(0.0026)
                          =============   ==============    ===========    ============
Weighted average number
of common shares outstanding 795,000           785,000       795,000            772,283


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

<PAGE 5>

BF ACQUISITION GROUP V, INC.
(A Development Stage Company)
STATEMENTS OF STOCKHOLDERS' EQUITY


</TABLE>
<TABLE>
<CAPTION>


<S>                           <C>                 <C>           <C>             <C>
                                                               Deficit
                                                             Accumulated
                              Common Stock       Additional   during the         Total
                           ----------------      Paid-in     Development      Stockholders'
                           Shares    Amount      Capital       Stage          Equity
                         --------   --------   -----------  -------------    --------------
Balance, April 15, 1999    -         $  -        $  -           $ -             -

Sale of 510,000 shares of
common stock              510,000       510         490
-              1,000

Common stock issued for
services                  190,000       190         182                         372

Net loss                   -              -          -           (372)            (372)
                         ---------   --------  -----------   -------------    -------------
Balance, April 30, 1999   700,000     $  700       $672         $(372)           $1,000
                        ==========   =========  ===========  =============   ============

Sale of 60,000 shares
of common stock            60,000          60      2,940          -               3,000

Common stock issued for
services                   35,000          35        34                              69

Net loss                    -              -         -           (3,637)         (3,637)
                        ----------  ----------  -----------  --------------   -----------

Balance, April 30, 2000   795,000     $   795     $ 3,646       $(4,009)         $  432
                        ==========  ==========  ===========  ===============  ===========

Net loss                                                         (1,172)         (1,172)
                        ----------  ----------  -----------  ---------------  ------------

Balance, October 31,2000  795,000     $   795     $ 3,646       $(5,181)         $ (740)
                        ==========  ==========  ===========  ===============  ============

</TABLE>

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

<PAGE 6>

BF ACQUISITION GROUP V, INC.
(A Development Stage Company)
STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>


                           Three months     Three months     Six months      Six months
                              ended          ended           ended          ended
                            October 31,     October 31,     October 31,      October 31,
                              2000           1999             2000           1999
                           -------------    ------------  ------------     -------------
<S>                           <C>            <C>              <C>             <C>
                            (unaudited)    (unaudited)     (unaudited)      (unaudited)
Cash flows from
operating activities:

 Net loss                   $ (677)         $ (345)         $(1,172)         $ (2,022)
 Common stock issued for
 services                       -                               -                   69
 Changes in liabilities:
  Decrease in accrued expenses                 -              302                   -
                           -------------   -------------- ------------     -------------

  Net cash used in
  operating activities        (677)           (345)           (870)            (1,953)
                           -------------   -------------  ------------      ------------

Cash flows from financing
activities:

  Sale of common stock         -               -                 -              2,500
                           --------------  -------------- -------------     -------------

Net cash provided by
financing activities           -               -                 -              2,500
                           --------------  -------------- -------------     -------------

Net (decrease) increase
in cash and cash equivalents  (677)           (345)            (870)              547

Cash and cash equivalents
at beginning of period         889            1,892            1,082            1,000
                           ---------------  -------------- --------------    -------------

Cash and cash equivalents
at end of period              $ 212           $ 1,547           $212           $1,547
                           ===============  ============== ==============    =============

</TABLE>

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

<PAGE 7>

1.  ORGANIZATIONA AND BASIS OF PRESENTATION:

     BF Acquisition Group V, Inc., (the "Company"), a development stage
company, was organized in Florida on April 15, 1999 as a "shell" company which
plans to look for a suitable business partners or acquisition candidates to
merge with or acquire.  Operations since incorporation have consisted primarily
of obtaining the initial capital contribution by the founding shareholders
and coordination of activities regarding the SEC registration of the Company.

     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
reporting period.  Actual results could differ from those estimates.

     The information for the three and six months ended October 31, 2000
includes all adjustments which are, in the opinion of management, necessary
to a fair statement of the results for the period.

     Certain information and footnote disclosure normally included in
financial statements prepared in accordance with generally accepted principles
have been omitted pursuant to the requirements of the Securities and Exchange
Commission, although the Company believes that the disclosures included
in these interim financial statements are adequate to make the information
not misleading.

    It is suggested that these consolidated financial statements should be
read in conjuction with the consolidated financial statements and notes thereto
included in the Company's Annual Report on Form 10-KSB (see File Number
000-26853) on file with the Securities and Exchange Commission.

2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

INCOME TAXES

     The Company accounts for income taxes in accordance with the Statement
of Financial Accounting Standards NO. 109, "Accounting for Income Taxes",
which requires the recognition of deferred tax liabilities and assets at
currently enacted tax rates for the expected future tax consequences of events
that have been included in the financial statements or tax returns.  A
valuation allowance is recognized to reduce the net deferred tax asset to an
amount that is more likely than not to be realized.  The tax provision shown
on the accompanying statement of operations is zero since the deferred tax
asset generated form the net operating loss is offset in its entirety by
valuation allowances.

CASH AND CASH EQUIVALENTS

<PAGE 8>

     Cash and cash equivalents, if any, includes all highly liquid debt
instruments with an original maturity date of three months or less at the date
of purchase.

EARNING PER COMMON SHARE

     The Company folow the provisions of SFAS No. 128, "Earning Per Share",
which requires companies with complex capital structures or common stock
equivalents to present both basic and diluted earnings per share ("EPS") on
the face of the income statement.  Basic EPS is calculated as income
available to common of the income statement.  Basic EPS is calculated as
income available to common stockholders divided by the weighted average
number of common stockholders divided by the weighted average number of
common shares outstanding during the period.  Diluted EPS is calculated using
the "if converted" method for convertible securities and the treasury stock
method for options and warrants as previously prescribed by Accounting
Principles Board Opinion No. 15, "Earning Per Share".

STATEMENT OF COMPREHENSIVE INCOME

     A statement of comprehensive income has not been included, per SFAS 130,
"Reporting Comprehensive Income", as the Company has no items of other
comprehensive income.

3.  LOSS PER COMMON SHARE:

     Net loss per common stock outstanding, as shown on the statement of
operations, is determined by the weighted average number of shares of common
stock outstanding during the period.  Diluted loss per common share calculations
are determined by dividing loss available to common shareholders by the
weighted average number of shares of common stock and dilutive common stock
equivalents outstanding during the period.

4.  CAPITAL STOCK:

COMMON STOCK

     The holders of the common stock are entitled to one vote per share and
have non-cumulative voting rights.  The holders are also entitled to receive
dividends when, as, and if declared by the Board of Directors.  Additionally,
the holders of the common stock do not have any preemptive right to subscribe
for, or purchase, any shares of any class of stock.

<PAGE 9>

PREFERRED STOCK

     The Board of Directors of the Company is authorized to provide for the
issuance of the preferred stock in classes or series and, by filing the
appropriate articles of amendment with the Secretary of State of Florida, is
authorized to establish the number of shares to be included in each class or
series and the preferences, limitations and relative rights of each class or
series, which may include a conversion feature into common stock.  This type
of preferred stock is commonly referred to as "blank check preferred stock".
As of December 6, 2000, no shares of preferred stock have been issued and
no preferences, limitations and relative rights have been assigned.

5.  RELATED PARTY TRANSACTIONS:

OFFICE FACILITIES

     The Company sub-leases office space on a month-to-month basis for a
nominal fee from a shareholder/executive officer of the Company.

<PAGE 10>

estimated, projected or otherwise indicated.

Item 2.  Management's Plan of Operation.

OVERVIEW

     The following discussion "Management's Plan of Operation" contains
forward-looking statements.  The work "anticipate", "believe", "expect",
"plan", "intend", "estimate", "project", "will", "could", "may" and similar
expressions are intended to idenitfy forward-looking statements.  Such
statements reflect the Company's current views with respect to future
events and financial performance and involve risks and uncertainties.  Should
one or more risks or uncertainties occur, or should underlying assumptions
prove incorrect, actual results may vary materially and adversely from
those anticipated, believed, expected, planned, intended, estimated,
projected or otherwise indicated.


     The following is qualified by reference to, and should be read
in conjunction with the Company's financial statements, and the
notes thereto, included elsewhere in this Form 10-QSB, as well as
the discussion hereunder "Management's Plan of Operation".

PLAN OF OPERATION

     BF ACQUISITION GROUP V, INC. (the "Company") is presently a
development stage company conducting virtually no business
operation, other than its efforts to effect a merger, exchange of
capital stock, asset acquisition or other similar business
combination (a "Business Combination") with an operating or
development stage business ("Target Business") which desires to
employ the Company to become a reporting corporation under the
Securities Exchange Act of 1934. To date, the Company has neither
engaged in any operations nor generated any revenue. It receives no
cash flow. The Company will carry out its plan of business as
discussed in Note 1. The Company cannot predict to what extent its
liquidity and capital resources will be diminished prior to the
consummation of a Business Combination or whether its capital will
be further depleted by the operating losses (if any) of the Target
Business which the Company effectuates a Business Combination with.

     Since inception to the period covered by this report, the
Company has received a cash infusion of $4,000.  With the exception
of certain other professional fees and costs related to a Business
Combination, the Company expects that it will incur minimal
operating costs and meet its cash requirements during the next 12
months. It is likely, however, that a Business Combination might
not occur during the next 12 months.  In the event the Company
depletes its present cash reserves prior to the effectuation of a
Business Combination, the Company may cease operations and a
Business Combination may not occur. David M. Bovi, P.A., the
Company's sub-lessor, has agreed to waive all of the Company's rent
payments, if necessary, in order to preserve the Company's cash
reserves.  No commitments of any kind to provide additional funds
have been made by management, other present shareholders or any
other third person.  There are no agreements or understandings of
any kind with respect to any loans from officers or directors of
the Company on behalf of the Company. Accordingly, there can be no
assurance that any additional funds will be available to the
Company to allow it to cover its expenses.  In the event the
Company elects to raise additional capital prior to the
effectuation of a Business Combination, it expects to do so through
the private placement of restricted securities

<PAGE 11>

rather than through a public offering.  The Company does not
currently contemplate making a Regulation S offering.

     Since inception to the period covered by this report, all of
the Company's out of pocket expenses, which approximated $3,700
were paid pursuant to a $1,000 capital infusion made to the Company
by the Company's promoters in exchange for 510,000 shares of Common
Stock and $3,000 capital infusion made to the Company pursuant to
the private sale of 60,000 shares of Common Stock.

     Since the Company's cash reserves are minimal, officers and
director's of the Company are compensated by the Company by
issuances of stock in lieu of cash. Presently, there are no
arrangements or anticipated arrangements to pay any type of
additional compensation to any officer or director in the near
future.   Regardless of whether the Company's cash assets prove to
be inadequate to meet the Company's operational needs, the Company
might seek to compensate providers of services by issuances of
stock in lieu of cash.

       To date, we have not yet identified a Target Business to
effectuate a Business Combination with. Therefore, we are unable
predict our cash requirements subsequent to a Business Combination
with the unidentified Target Business. Subsequent to the occurrence
of a Business Combination, we may be required to raise capital
through the sale or issuance of additional securities in order to
ensure that we can meet our operating costs for the remainder of
our fiscal year. No commitments of any kind to provide additional
funds to our Company subsequent to a Business Combination have been
made by management, other shareholders or any other third person.
Accordingly, we cannot assure that additional funds will be
available to us to allow us to cover our expenses subsequent to a
Business Combination. If we cannot meet our operating costs
subsequent to a Business Combination, unless we can obtain
additional capital, we may cease operations.


                               PART II
                          OTHER INFORMATION

Item 1.  Legal Proceedings

     Not Applicable

Item 2.  Change in Securities

     Not Applicable

Item 3.  Defaults Upon Senior Securities

     Not Applicable

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

     Not Applicable

Item 5.  Other Information

     Not Applicable

<PAGE>

Item 6.  Exhibits and Reports on Form 8-K

     (a)  Financial Data Schedule.
     (b)  No reports on Form 8-K were filed during the quarter
ended October 31, 2000.

                              SIGNATURES

     In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                         BF ACQUISITION GROUP V, INC.
                         Registrant

Date: December 15, 2000  /s/ David M. Bovi
                         David M. Bovi,
                         Chief Executive Officer

Date: December 15, 2000  /s/ David M. Bovi
                         David M. Bovi,
                         Chief Executive Officer