SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

                                   (Mark One)

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

                  For the quarterly period ended June 30, 2004

                                       OR

   [ ]TRANSITION REPORT UNDER SECTION 13 OF 15(d) OF THE EXCHANGE ACT OF 1934

          From the transition period from ___________ to ____________.

                         Commission File Number 0-23819


                            COLE COMPUTER CORPORATION
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

                  Nevada                           76-0547762
                  ------                           ----------
      (State or other jurisdiction) (IRS Employer Identification No.)

               5577 N.W. Expressway, Oklahoma City, Oklahoma 73132
               ---------------------------------------------------
                    (Address of principal executive offices)

                                 (405) 721-7600
                           ---------------------------
                           (Issuer's telephone number)

                                       N/A
                -------------------------------------------------
   (Former name, former address and former fiscal year, if changed since last
                                     report)

     Indicate by check mark whether the registrant (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
                                     ---      ---

As of June 30, 2004 15,437,400 shares of, Common Stock of the issuer were
outstanding. 4,000,000 shares were held in treasury by Cole Computer
Corporation.

Transitional Small Business Disclosure Format (Check one): Yes [ ] No [x]

<PAGE>

                            COLE COMPUTER CORPORATION
                                   FORM 10-QSB

                                      INDEX

                         Part I - Financial Information

Item 1.     Financial Statements                                              1

Item 2.     Management's Discussion and Analysis                              5

Item 3:     Controls and Procedures                                           6





                           Part II - Other Information

Item 3:     Defaults Upon Senior Securities                                   7

Item 6:     Exhibits and Reports on Form 8-K                                  7

            Signatures                                                        7



<PAGE>

                            COLE COMPUTER CORPORATION
                                  BALANCE SHEET
                                  June 30, 2004
                                   (Unaudited)



Current Assets:
        Cash                                                        $       175
        Other current assets                                              5,863
                                                                    -----------


Total Assets                                                        $     6,038
                                                                    ===========

Current Liabilities:
        Notes Payable                                               $   977,439
        Accounts Payable - Other                                         11,930
        Accounts Payable - Trade                                        171,842
        Accrued Expenses                                                 54,975
                                                                    -----------

               Total Current Liabilities                            $ 1,216,186
                                                                    -----------


Commitments and contingencies

Stockholders' Equity:
        10% cumulative preferred stock, $100 par
               value, 10,000,000 shares authorized,
               0 shares issued and outstanding

        Preferred stock, no par value, 10,000,000
               shares authorized, 0 shares issued and
               outstanding

        Common stock, $.001 par value, 80,000,000
               shares authorized, 19,387,400
               shares issued and outstanding                             19,387
        Paid in capital                                               2,828,321
        Deficit                                                      (4,053,856)
        Less: treasury stock, 4,000,000 shares at cost                   (4,000)
                                                                    -----------
Total Stockholder's Equity (Deficit)                                 (1,210,148)
                                                                    -----------

Total Liabilities & Stockholders' Equity (Deficit)                  $     6,038
                                                                    ===========


                                        1
<PAGE>
<TABLE>
<CAPTION>

                                                    COLE COMPUTER CORPORATION
                                                     STATEMENTS OF OPERATIONS
                                     For the Three and Six Months Ended June 30, 2004 and 2003
                                                              (Unaudited)


                                                      Three Months Ended                     Six Months Ended
                                                     2004              2003              2004                2003
                                                 ------------      ------------      ------------        ------------

<S>                                          <C>                 <C>                 <C>                 <C>
Costs & Expenses:
       G&A Expenses                          $     20,477        $     41,061        $     34,089        $    110,529
       Interest Expense                            16,998              11,321              26,757              21,980
                                             ------------        ------------        ------------        ------------

             Total Expenses                        37,475              52,382              60,846             132,509
                                             ------------        ------------        ------------        ------------

Net loss before discontinued operations           (37,475)            (52,382)            (60,846)           (132,509)

Loss from discontinued operations                    --              (114,187)            (43,718)           (198,484)
                                             ------------        ------------        ------------        ------------

Net (Loss)                                   $    (37,475)       $   (166,569)       $   (104,564)       $   (330,993)
                                             ============        ============        ============        ============


Earnings per share:
       Basic and diluted (loss)              $       --          $      (0.01)       $       --          $       (.02)
                                             ============        ============        ============        ============

Weighted average shares outstanding            19,387,400          19,387,400          19,387,400          19,387,400
                                             ============        ============        ============        ============

                                                             2
<PAGE>



                                          COLE COMPUTER CORPORATION
                                          Statements of Cash Flows
                               For the Six Months Ended June 30, 2004 and 2003
                                                  (Unaudited)


                                                                        2004                  2003
                                                                      ---------             ---------

Cash Flows from Operating Activities:
        Net loss                                                      $(104,564)            $(330,993)
        Adjustments to reconcile net loss to net
        cash used in operating activities:
             Depreciation                                                14,488                46,071
             Provision for bad debts                                       --                  22,000
        Change in cash from operating assets and liabilities:
             Accounts receivable                                          5,596                36,595
             Inventory                                                     --                  97,695
             Other current assets                                        21,387                 9,202
             Accounts payable                                            52,775               150,293
             Accrued expenses                                           (29,122)              (28,691)
                                                                      ---------             ---------

  Net cash (used in) Provided by operating activities                   (39,440)                2,172
                                                                      ---------             ---------

Cash Flows from Investing Activities:
        Purchase of Equipment                                              --                  (3,381)
                                                                      ---------             ---------

Net cash used in investing activities                                      --                  (3,381)
                                                                      ---------             ---------

Cash Flows from Financing Activities:
        Loan proceeds from notes payable-related party                    9,000                  --
        Principal payments on notes and capital leases payable             --                 (56,936)
        Proceeds from note payable                                        8,000                  --
                                                                      ---------             ---------

Net cash provided by (used in) financing activities                      17,000               (56,936)
                                                                      ---------             ---------

Net change in cash                                                      (22,440)              (58,145)

CASH, beginning of year                                                  22,615               146,218
                                                                      ---------             ---------

CASH, end of year                                                     $     175             $  88,073


                                See accompanying notes to financial statements


Supplemental Disclosures of Cash Flow Information:
        Interest paid                                                 $    --               $  20,439
        Income taxes paid                                             $    --               $    --

</TABLE>


                                        3
<PAGE>


                            COLE COMPUTER CORPORATION
                 NOTES TO INTERIM CONDENSED FINANCIAL STATEMENTS
                                  June 30, 2004
                                   (Unaudited)

NOTE 1 - PRESENTATION

The balance sheet of Cole Computer Corporation (the Company) as of June 30,
2004, and related statements of operations and cash flows for the interim
periods ended June 30, 2004 and 2003 included in the condensed financial
statements have been prepared by the Company without audit. In the opinion of
management, the accompanying financial statements include all adjustments
(consisting of normal, recurring adjustments) necessary to summarize fairly the
Company's financial position, results of operations and cash flows. The results
of operations for the three and six months ended June 30, 2004, are not
necessarily indicative of the results of operations for the full year or any
other interim period. The information included in this Form 10-QSB should be
read in conjunction with Management's Discussion and Analysis and financial
statements and notes thereto included in Cole Computer Corporation's December
31, 2003, Form 10-KSB.

NOTE 2 - NATURE OF BUSINESS

On or about March 1, 2004, the Company's management decided to cease doing
business as a retail computer and sales operation. Accordingly, all activities
have been treated as discontinued operations. Agreements are currently being
prepared to dispose of its operations through the sale to another entity or
liquidation of the business. Further, agreements are currently being negotiated
to determine the future operations of the Company. At this time, no definitive
contracts have been completed to either dispose of the activities or change its
operations. All assets of the Company have been reflected in the balance sheet
at June 30, 2004, at their current estimated fair values. Due to the ongoing
negotiations regarding the disposition of retail operations and the uncertainty
of the outcome, all existing liabilities have been reflected at their stated
values as of June 30, 2004. Comparative period operations have been restated to
conform with the 2004 presentation of discontinued operations.

NOTE 3 - GOING CONCERN

As indicated above, the Company is no longer in business nor has it determined
what its future activities will be. It is not known at this time whether the
Company will continue as a going concern since new management has not as yet
taken over operations of the Company. No commitments have been made to continue
the Company as a business entity and, accordingly, there is a substantial doubt
that the Company will continue as a going concern.



                                        4
<PAGE>

Item 2. Management's Discussion & Analysis

The discussion and analysis contained herein should be read in conjunction with
the preceding financial statements and the information contained in the
Company's Form 10-QSB and the Company's most recent Form 10-KSB. Except for the
historical information contained herein, the matters discussed in this Form
10-QSB contain forward looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and the Private Securities Litigation Reform
Act of 1995, including, among others (i) expected changes in the Company's
revenues and profitability, (ii) the effects of cost-reduction measures, (iii)
prospective business opportunities and (iv) the Company's strategy for improving
and funding its business, that are based on management's beliefs and
assumptions, current expectations, estimates, and projections. Statements that
are not historical facts, including, without limitation, statements which are
preceded by, followed by, or include the words "believes," "anticipates,"
"plans," "expects," "may," "should" or similar expressions are forward-looking
statements. Many of the factors that will determine the Company's future results
are beyond the ability of the Company to control or predict. These statements
are subject to risks and uncertainties and, therefore, actual results may differ
materially. All subsequent written and oral forward-looking statements
attributable to the Company, or persons acting on its behalf, are expressly
qualified in their entirety by these cautionary statements. The Company
disclaims any obligation to update any forward-looking statements whether as a
result of new information, future events, or otherwise.

Important factors may include, but are not limited to: the risk of intense
competition by much larger companies, the inability of the Company to insure
adequate capital resources, limited sources for inventory, as well as general
market conditions, labor and pricing, and other risks detailed from time to time
in the Company's SEC reports, copies of which are available upon request from
the Company.

On or about March 1, 2004, the Company's management decided to cease doing
business as a retail computer and sales operation. Accordingly, all activities
have been treated as discontinued operations. Agreements are currently being
prepared to dispose of its operations through the sale to another entity or
liquidation of the business. Further, agreements are currently being negotiated
to determine the future operations of the Company. At this time, no definitive
contracts have been completed to either dispose of the activities or change its
operations. All assets of the Company have been reflected in the balance sheet
at June 30, 2004, at their current estimated fair values. Due to the ongoing
negotiations regarding the disposition of retail operations and the uncertainty
of the outcome, all existing liabilities have been reflected at their stated
values as of June 30, 2004. Comparative period operations have been restated to
conform with the 2004 presentation of discontinued operations.

The Company incurred a net loss for the six months ended June 30, 2004 of
($104,564) as compared to a net loss of ($330,993) for the six months ended June
30, 2003. At June 30, 2004, we had a deficit net worth of ($1,210,148) and
negative working capital of ($1,210,148). These factors create substantial doubt
about our ability to continue as a going concern. These financial statements do
not include any adjustments relating to the recoverability and classification of
recorded assets or the amounts and classification of liabilities that might be
necessary in the event we cannot continue to exist.

                                       5
<PAGE>

The loss from discontinued operations for the six months ended June 30, 2004
decreased $154,766 or 80%, from a loss of ($198,484) in 2003 to a loss of
($43,718) in 2004. This decrease is principally due to the ceasing retail
operations in March 2004.

Liquidity.

As of June 30, 2004, the Company had $175 in cash and a working capital deficit
of ($1,210,148).


                                QUARTERLY RESULTS


General and administrative expenses for the three months ended June 30, 2004,
decreased by $20,584 or 50% to $20,477 from $41,061 for the corresponding period
of the prior year. A decrease in legal fees and administrative payroll costs
contributed to the decrease in general and administrative expenses for the
quarter, as well as ceasing store operations in March 2004.

Interest expense for the three months ended June 30, 2004, increased by $5,677,
or 5%, to $16,998 from $11,321 for the corresponding period of the prior year.
This increase was a result of the Company's default on existing notes payable
payments.


Item 3. Controls and Procedures

As of the end of the period covered by this report, the Company conducted an
evaluation, under the supervision and with the participation of the principal
executive officer of the Company's disclosure controls and procedures (as
defined in Rules 13a-14(c) and 15d-14(c) under the Securities Exchange Act of
1934 (the "Exchange Act")). Based on this evaluation, the principal executive
officer concluded that the Company's disclosure controls and procedures are
effective to ensure that information required to be disclosed by the Company in
reports that it files or submits under the Exchange Act is recorded, processed,
summarized and reported within the time periods specified in Securities and
Exchange Commission rules and forms. There was no change in the Company's
internal control over financial reporting during the Company's most recently
completed fiscal quarter that has materially affected, or is reasonably likely
to materially affect, the Company's internal control over financial reporting.

                                       6
<PAGE>

PART II - OTHER INFORMATION

ITEM 3: Defaults Upon Senior Securities

                                                  Nature
                                                    Of
Indebtedness:                                     Default
-------------                                     -------

Capitalized equipment lease, due in monthly
  installments of $1,090 including interest
  at 30%, maturing September 2008, and
  collateralized by equipment                   non-payment

Note payable to a corporation, due in weekly
  installments of $1,250 including interest
  at 12%, with remaining principal and
  interest due December 31, 2004                non-payment

Note payable to affiliate, principal and
  interest due February 1, 2005, bearing           interest
  interest at 7%                                non-payment

Note payable to affiliate, principal and
  interest due February 1, 2005, bearing           interest
  interest at 8%                                non-payment



As a result of ceasing retail operations in March 2004, the Company is in
default on substantially all of its outstanding debt as of June 30, 2004, as
reflected in the accompanying balance sheet.


ITEM 6: Exhibits and Reports on Form 8-K

(a)  Exhibits

     Exhibit No.     Description of Exhibit
     ----------      ----------------------

     31.1             Rule 13a-14(a) Certifications
     32.1             Section 1350 Certification

(b)  Reports on Form 8-K

     None


                                   SIGNATURES

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


                                            COLE  COMPUTER  CORPORATION
Date:  August 19, 2004

                                            By:/s/ John Ruth
                                               ---------------------------------
                                                   John Ruth
                                                   President

                                        7