UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    Form 10-Q

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

    For the quarter ended June 30, 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: 0-16075


                     CENTURY PACIFIC FINANCIAL CORPORATION
               (Exact name of Registrant as specified in charter)


          Delaware                                              86-0449546
(State or other jurisdiction of                       (I.R.S. Employer I.D. No.)
incorporation or organization)

1422 N. 44th Street, Suite 211, Phoenix, AZ                        85008
(Address of principal executive offices)                        (Zip Code)

         Issuer's telephone number, including area code: (602) 267-7007

Check  whether  the Issuer  (1) has 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 [ ]

State the number of shares outstanding of each of the Issuer's classes of common
equity  as of the  latest  practicable  date:  At  June  30,  2000,  there  were
51,471,843 shares of the registrant's Common Stock outstanding.

TABLE OF CONTENTS Page ---- PART I. FINANCIAL INFORMATION Item 1 - Financial Statements 3 Item 2 - Management's Discussion and Analysis or Plan of Operation 8 PART II. OTHER INFORMATION Item 3. Legal Proceedings 9 Item 4. Changes in Securities and Use of Proceeds 9 Item 5. Default Upon Senior Securities 9 Item 6. Submission of Matters to a Vote of Security Holders 9 Item 7. Other Information 9 Item 8. Exhibits and Reports On Form 8-K 9 SIGNATURES 10 2

PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS CENTURY PACIFIC FINANCIAL CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2000 June 30, 1999 ------------- ------------- CURRENT ASSETS Cash $ (11,764) $ 141,355 Accounts Receivable 223,799 30,311 Notes Receivable 7,000 Inventory 163,014 206,997 Tax Benefit Current -- 4,668 FIXED ASSETS Office Equipment 10,152 12,978 OTHER ASSETS Notes Receivable Non-Current 47,168 Tax Benefit Long Term 875,697 Original Costs -- 325 ----------- ----------- TOTAL ASSETS $ 1,319,734 $ 391,986 =========== =========== CURRENT LIABILITIES Accrued Liabilities Wages Payable $ 29,504 Taxes Payable 1,164 494 ----------- ----------- TOTAL LIABILITIES $ 30,668 $ 494 ----------- ----------- CAPITAL Common Stock $ 2,058,874 $ 1,216,966 Capital (Paid in) 2,006,271 2,339,246 Retained Earnings (2,776,079) (3,336,407) ----------- ----------- TOTAL STOCKHOLDERS EQUITY $ 1,289,066 $ 391,492 ----------- ----------- TOTAL LIABILITY & STOCKHOLDERS EQUITY $ 1,319,734 $ 391,986 =========== =========== 3

CENTURY PACIFIC FINANCIAL CORPORATION CONDENSED CONSOLIDATED INCOME STATEMENT For 3 Months Ended For 9 Months Ended ----------------------- ---------------------- 6/30/00 6/30/99 6/30/00 6/30/99 ------- ------- ------- ------- REVENUES Financial Services $ 9,129 $ 8,460 $ 29,710 $ 25,972 Sales & Service 137,860 522,478 566,363 530,303 --------- -------- -------- -------- TOTAL REVENUE $ 146,989 $530,938 $596,073 $556,275 --------- -------- -------- -------- COST OF SALES 86,543 286,215 258,464 286,215 --------- -------- -------- -------- GROSS PROFIT $ 60,446 $244,723 $337,609 $270,060 ========= ======== ======== ======== EXPENSES Advertising 503 587 1,628 1,338 Auto 3,056 923 9,322 923 Bank Charges 398 84 1,848 215 Contributions 100 2,964 Commissions 2,793 609 14,199 609 Dues and Subscriptions 2,224 514 2,174 Freight 1,678 5,481 14,568 5,880 Insurance 3,910 2,260 12,581 2,174 Laundry 400 Legal & Professional 327 413 1,163 4,546 Licenses -- 148 1,565 1,932 Miscellaneous 340 1,241 1,839 5,761 Office Expense 2,643 1,337 10,529 1,873 Other Taxes 3,145 1,845 8,889 Rent/Lease 14,772 6,038 42,239 11,156 Salaries 18,982 21,083 59,468 28,363 Supplies 1,021 2,055 Telephone 6,082 2,325 13,779 4,915 Travel 14,956 6,424 36,877 6,424 Utilities 498 -- 1,931 -- TOTAL EXPENSES 75,204 53,022 238,358 78,283 --------- -------- -------- -------- NET INCOME $ (14,758) $191,700 $ 99,251 $191,777 ========= ======== ======== ======== 4

CENTURY PACIFIC FINANCIAL CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS For 3 Months Ended --------------------------- 6/30/00 6/30/99 ------- ------- Cash from Operations Net Income $ 99,251 $ 191,777 --------- --------- Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Accounts Payable -- (508,648) Accounts Receivable (94,484) (23,330) Inventory 8,622 (206,997) Notes Receivable (7,000) (7,000) Taxes Payable 655 496 --------- --------- Total $ (92,206) $(745,479) --------- --------- Net Cash Provided by Operations $ 7,045 $(553,702) --------- --------- Cash Flows From Investing $ -- $ (26,626) --------- --------- Cash Flows From Financing $ -- $ 400,000 --------- --------- Net Increase/Decrease Cash $ 7,045 $(180,322) --------- --------- Summary Cash Balance Beginning of Period $ 18,808 $ 286 --------- --------- Cash Balance End of Period $ (11,765) $ -- ========= ========= Net Increase/Decrease in Cash $ 7,045 $ 141,355 ========= ========= 5

CENTURY PACIFIC FINANCIAL CORPORATION STATEMENT OF STOCKHOLDERS EQUITY FOR THE PERIOD FROM 1/01/00 TO 6/30/00 Paid In Retained Stockholders Common Shares Stock Amount Capital Earnings Equity ------------- ------------ ------- -------- ------ Balance 1/01/00 51,471,847 $ 2,058,874 $ 2,006,271 $(2,761,215) $ 1,303,930 Retained Earnings (Loss) (14,864) (14,864) ----------- ----------- ----------- ----------- ----------- Balance 6/30/00 51,471,847 $ 2,058,874 $ 2,006,271 $(2,776,079) $ 1,289,066 =========== =========== =========== =========== =========== 6

CENTURY PACIFIC FINANCIAL CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted. However, in the opinion of management, all adjustments (which include only normal recurring accruals) necessary to present fairly the financial position and results of operations for the periods presented have been made. The results for interim periods are not necessarily indicative of trends or of results to be expected for the full year. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's most recent report on Form 10-K. BASIS OF PRESENTATION. The consolidated financial statements include the accounts of Century Financial Corporation and its subsidiaries. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the financial position, results of operations and cash flows for the periods presented. Certain financial statement items from the prior year may have been reclassified to be consistent with the current year financial statement presentation. These consolidated financial statements should be read in conjunction with the consolidated financial statements and the related disclosures contained in the Company's Annual Report of Form 10-K for the year ended September 30, 1999, filed with the Securities and Exchange Commission. The results of operations for the three months ended June 30, 2000, are not necessarily indicative of the results to be expected for the full fiscal year. 1. CONDENSED FINANCIAL STATEMENTS. The unaudited condensed consolidated financial information contained in this report reflects all adjustments (consisting of normal recurring accruals) considered necessary, in the opinion of management, for a fair presentation of results for the interim periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. 2. STOCK OPTION PLANS. None outstanding. 3. PREFERRED STOCK. The Company has one class of preferred stock. 5,000,000 shares of .05000 par value preferred stock remaining authorized but unissued. 4. WARRANTS. None 7

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following selected data of the Company is qualified by reference to and should be read in conjunction with the consolidated financial statements, including any notes thereto, and "Management's Discussion and Analysis of Financial Condition and Results of Operations" included elsewhere in this report. RESULTS OF OPERATIONS. Comparison of three-month periods ended June 30, 2000 and 1999 are contained herein. Revenues for the third quarter of the fiscal year of $146,989.00 are substantially lower than of $530,938.00 of the prior year. Three month comparative figures reflect lower revenues due to the delayed start up of medical equipment sales deliveries both domestically and internationally. Release from the Chapter 11 Bankruptcy proceedings has allowed the Company to seek new sources of revenue and acquisitions that are expected to build the capital base, revenues, and profits. The operating expenses of $75,204.00 were normal business expenses. Expenses for the 2000 period as compared with those of 1999 increased substantially as the medical equipment subsidiary increased local and export sales. This Form 10-Q includes "forward looking statements" concerning the future operations of the Company. It is management's intent to take advantage of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. This statement is for the express purpose of availing the Company of the protections of such safe harbor with respect to all "forward looking statements" contained in this Form 10-Q. We have used "forward looking statements" to discuss future plans and strategies of the Company. Management's ability to predict results or the effect of future plans is inherently uncertain. Factors that could effect results include, without limitation, competitive factors, general economic conditions, customer relations, relationships with vendors, the interest rate environment, governmental regulation and supervision, seasonality, distribution networks, product introductions, acceptance, technological change, changes in industry practices and one-time events. These factors should be considered when evaluating the "forward looking statements" and undue reliance should not be placed on such statements. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. LIQUIDITY AND CAPITAL RESOURCES. The Corporation has remained current in its payable accounts during this period and the event of profitable operations in the medical equipment has allowed a modest build-up of cash and inventory. 8

PART II. OTHER INFORMATION ITEM 3. LEGAL PROCEEDINGS The Company is not a party to any litigation and to its knowledge, no action, suit or proceedings against it has been threatened by any person or entity. ITEM 4. CHANGES IN SECURITIES AND USE OF PROCEEDS None ITEM 5. DEFAULT UPON SENIOR SECURITIES None ITEM 6. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS None ITEM 7. OTHER INFORMATION None ITEM 8. EXHIBITS AND REPORTS ON FORM 8-K None 9

SIGNATURES Pursuant to the requirements of section 13 or 15(d) 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. CENTURY PACIFIC FINANCIAL CORPORATION Dated: November 28, 2001 By /s/ Carlton V. Phillips ---------------------------------------- Carlton V. Phillips Chairman of the Board, and Co-Chief Executive Officer By /s/ David Hadley ---------------------------------------- David Hadley President and Co-Chief Executive Officer Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following person on behalf of the Registrant and in the capacities and on the date indicated. Signature and Title Date ------------------- ---- /s/ Carlton V. Phillips November 28, 2001 - ---------------------------------------- Carlton V. Phillips Treasurer and Director /s/ David Hadley November 28, 2001 - ---------------------------------------- David Hadley President and Director 10