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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001013176-01-500138.txt : 20010814
<SEC-HEADER>0001013176-01-500138.hdr.sgml : 20010814
ACCESSION NUMBER:		0001013176-01-500138
CONFORMED SUBMISSION TYPE:	10QSB
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20010630
FILED AS OF DATE:		20010813

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRAMEWAVES INC
		CENTRAL INDEX KEY:			0000788611
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MANAGEMENT SERVICES [8741]
		IRS NUMBER:				820404220
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10QSB
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-02783-S
		FILM NUMBER:		1706043

	BUSINESS ADDRESS:	
		STREET 1:		1981 EAST 4800 SOUTH SUITE 100
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84117

	MAIL ADDRESS:	
		STREET 1:		1981 EAST 4800 SOUTH SUITE 100
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MESSIDOR LTD
		DATE OF NAME CHANGE:	20010122
</SEC-HEADER>
<DOCUMENT>
<TYPE>10QSB
<SEQUENCE>1
<FILENAME>fw10q601.txt
<DESCRIPTION>FRAMEWAVES 10-Q 6-01
<TEXT>
             U.S. SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  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 June 30, 2001

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

     For the transition period from     to

                  Commission File No. 33-2783-S
                        FRAMEWAVES, INC.
(Exact name of small business issuer as specified in its charter)

            Nevada                          82-0404220
(State or other jurisdiction of   (IRS Employer Identification No.)
incorporation or organization)

  1981 East 4800 South, Suite 100, Salt Lake City, Utah, 84117
             (Address of principal executive offices)

                         (801) 272-9294
                   (Issuer's telephone number)

                         Not Applicable
(Former name, address and fiscal year, if changed since last report)

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
preceding 12 months (or for such shorter period that the  issuer
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 ISSUERS INVOLVED IN BANKRUPTCY  PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:

Check whether the registrant has filed all documents and reports
required  to  be  filed by Sections 12,  13,  or  15(d)  of  the
Exchange Act subsequent to the distribution of securities  under
a plan confirmed by a court. Yes [  ] No [  ]

APPLICABLE ONLY TO CORPORATE ISSUERS:

State  the number of shares outstanding of each of the  issuer's
classes of common equity, as of June 30, 2001: 1,208,794  shares
of common stock.

Transitional Small Business Format:  Yes [   ]  No [ X ]

<PAGE>
                           FORM 10-QSB
                        FRAMEWAVES, INC.
                              INDEX
                                                       Page
PART I.   Financial Information

          Item I.  Financial Statements (unaudited)       3

          Consolidated Balance Sheets  -  June  30,       3
          2001 (unaudited) and December 31, 2000

          Consolidated  Statements  of   Operations       4
          (unaudited) for the Three and Six  Months
          Ended June 30, 2001 and 2000, and for the
          period    December   31,   1993   (Quasi-
          Reorganization) Through June 30, 2001
                                                          5
          Consolidated  Statements of Stockholders'
          Equity   (unaudited)   for   the   Period
          December  31, 1993 (Quasi-Reorganization)
          Through June 30, 2001                           7

          Consolidated  Statements  of  Cash  Flows
          (unaudited) for the Six Months Ended June
          30,  2001  and 2000, and for  the  period
          December  31, 1993 (Quasi-Reorganization)       8
          Through June 30, 2001
                                                         11
          Notes     to    Consolidated    Financial
          Statements

          Item  2.   Management's  Discussion   and
          Analysis of Financial Condition  or  Plan
          of Operation

PART II.  Other Information

          Item 6.  Exhibits and Reports on Form 8-K      13

          Signatures                                     13

(Inapplicable items have been omitted)

                                2
<PAGE>
                FRAMEWAVES, INC. AND SUBSIDIARY
                 (A Development Stage Company)
                  CONSOLIDATED BALANCE SHEETS
              JUNE 30, 2001 AND DECEMBER 31, 2000


                                              June 30,           December 31,
                 Assets                        2001             2000
Current Assets:
  Cash                                      $     880     $   5,910

     Total current assets                         880         5,910

     Total Assets                           $     880     $   5,910


Liabilities and Stockholders' Equity

Current Liabilities:
  Accounts payable                          $   2,090      $  1,562

     Total current liabilities                  2,090         1,562


Stockholders' Equity:
  Common stock, $.001 par value
    100,000,000 shares
    authorized, 1,208,794
    issued and outstanding                      1,209         1,209
  Additional paid-in capital                   19,518        19,518
  Deficit accumulated during the
    development stage                         (21,937)     (16,379)

     Total Stockholders' Equity                (1,210)       4,348

     Total Liabilities and Stockholders'
       Equity                              $      880    $  5,910


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

                                3
<PAGE>


                         FRAMEWAVES, INC. AND SUBSIDIARY
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF OPERATIONS
            FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2001 AND 2000
               AND THE PERIOD DECEMBER 31, 1993 (Date Of Inception)
                           THROUGH JUNE 30, 2001
<TABLE>
<CAPTION>
                                                                                    For the Period
                                                                                      December 31,
                                                                                          1993
                        For The          For The        For The         For The         (Quasi-
                     Three Months     Three Months    Six Months      Six Months     Reorganization)
                        Ended            Ended          Ended           Ended           Through
                    June 30, 2001    June 30, 2000   June 30,2001   June 30, 2000    June 30, 2001
<S>                  <C>              <C>             <C>            <C>              <C>
Revenues             $    --          $      --       $      --      $     --         $     --

Expenses, general
And administrative       538                 --           5,558            --           21,937

Operating Loss          (538)                            (5,558)           --          (21,937)

Other Income              --                 --              --            --               --
(Expense)

Net Loss             $  (538)         $               $  (5,558)     $     --        $ (21,937)

Net Loss per Share   $    --          $     --        $      --      $     --        $    (.02)
</TABLE>

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

                                        4
<PAGE>


                         FRAMEWAVES, INC. AND SUBSIDIARY
                          (A Development Stage Company)
                 CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
 FOR THE PERIOD DECEMBER 31, 1993 (Quasi - Reorganization) THROUGH JUNE 30, 2001
<TABLE>
<CAPTION>
                                                                        Deficit
                                                                      Accumulated
                                                          Additional   During the
                                       Common Stock        Paid-in    Development
                                    Shares     Amount      Capital        Stage

<S>                                <C>        <C>         <C>         <C>
Balance, December 31, 1993          65,600    $     66    $    (66)   $     --

Net loss accumulated for
  the period December 31, 1993
  (quasi-reorganization)
  through December 31, 1997             --          --          --          --

Balance, December 31, 1997          65,600          66         (66)         --

Net loss for the year ended
  December 31, 1998                     --          --          --          --

Balance, December 31, 1998          65,600          66         (66)         --

Net loss for the year
 ended December 31, 1999                --          --          --          --

Balance, December 31, 1999          65,600    $     66    $    (66)   $     --
</TABLE>

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

                                        5
<PAGE>



                         FRAMEWAVES, INC. AND SUBSIDIARY
                          (A Development Stage Company)
           CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - CONTINUED
 FOR THE PERIOD DECEMBER 31, 1993 (Quasi - Reorganization) THROUGH JUNE 30, 2001
<TABLE>
<CAPTION>
                                                                              Deficit
                                                                            Accumulated
                                                                Additional  During the
                                            Common Stock         Paid-in    Development
                                        Shares        Amount     Capital       Stage
<S>                                   <C>           <C>        <C>         <C>
Balance, December 31, 1999                65,600    $    66    $    (66)   $      --

Common stock issued for cash
  and services at $.10/ share
  on November 3, 2000                    100,000        100       9,900           --

Contribution by shareholder
  for Company expenses paid
  directly by shareholder                     --         --       9,817           --

Common stock issued in
  acquisition of subsidiary,
  Corners, Inc. on December 27, 2000   1,000,000      1,000         (90)          --

Common stock issued due to
  rounding up shareholders with
  less than 100 shares after
  100 for 1 reverse stock split
  effective December 27, 2000            43,394          43         (43)          --

Net loss for the year
  ended December 31, 2000                    --          --          --      (16,379)

Balance, December 31, 2000             1,208,994      1,209      19,518      (16,379)

Net loss for the six months
  ended June 30, 2001                         --         --          --       (5,558)
                                       1,208,994    $ 1,209    $ 19,518    $ (21,937)
</TABLE>
                     The accompanying notes are an integral
                        part of the financial statements.
                                        6
<PAGE>

                   FRAMEWAVES, INC. AND SUBSIDIARY
                    (A Development Stage Company)
                CONSOLIDATED STATEMENTS OF CASH FLOWS
           FOR THE SIX MONTHS ENDED JUNE 30, 2001 AND 2000
        AND THE PERIOD DECEMBER 31, 1993 (Date Of Inception)
                          TO JUNE 30, 2001
                                              For the period
                                                December 31,
                                                    1993
                         For the      For the      (Quasi-
                        Six Months  Six Months  Reorganization)
                           Ended      Ended       Through
                         June 30,    June 30,     June 30,
                           2001        2000        2001
Cash flows from
 operating activities:
  Net loss               $ (5,558)   $   --    $ (21,937)
Adjustments to
 reconcile net income
 to cash provided by
 operating activities:
  Contribution from
   shareholder                --         --        9,817
  Common stock issued
   for services               --         --        5,000
  Increase in
   accounts payable          528         --        2,090

Net cash used
  by operating
  activities:             (5,030)        --       (5,030)

Cash flows from
  investing activities:
    Cash received in
      acquisition of
      subsidiary              --         --          910

Cash flows from
  financing activities:
    Issuance of
     common stock             --         --        5,000

Net increase
  (decrease) in cash     (5,030)         --          880

Cash, beginning
  of period               5,910          --           --

Cash, end of period   $     880    $     --     $    880
Interest paid         $      --    $     --     $     --
Income taxes paid     $      --    $     --     $     --
             The accompanying notes are an integral
                part of the financial statements.

                                  7
<PAGE>


                 FRAMEWAVES, INC. AND SUBSIDIARY
                  (A Development Stage Company)
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


1.   Summary of Business and Significant Accounting Policies

     a.  Summary of Business

          The  Company was incorporated under the laws of the  State
          of  Nevada  on December 23, 1985.  The Company was  formed
          to   pursue  business  opportunities.   The  Company   was
          unsuccessful  in its operations.  During 1993,  Management
          determined  it was in the best interest of the Company  to
          discontinue  its  previous  operations.   The  Company  is
          considered  to  have  re-entered into  a  new  development
          stage   on   December  31,  1993.   Because  the   Company
          discontinued  its previous operations and is  selling  new
          potential  business  opportunities,  the  Company  adopted
          quasi-reorganization accounting procedures to provide  the
          Company a Afresh start@ for accounting purposes.

     b.   Principles of Consolidation

          The   consolidated   financial  statements   contain   the
          accounts  of  the Company and its wholly-owned subsidiary,
          Corners,  Inc.  All significant intercompany balances  and
          transactions have been eliminated.

     c.  Cash Flows

          For  purposes of the statement of cash flows, the  Company
          considers all highly liquid investments purchased  with  a
          maturity  of  three  months or less to  be  cash  or  cash
          equivalents.

     d.  Net Loss Per Share

          The  net  loss  per  share calculation  is  based  on  the
          weighted  average number of shares outstanding during  the
          period.

     e.  Use of Estimates

          The  preparation  of  financial statements  in  conformity
          with  generally  accepted accounting  principles  requires
          management  to make estimates and assumptions that  affect
          certain  reported  amounts and disclosures.   Accordingly,
          actual results could differ from those estimates.

                                  8
<PAGE>



Notes to Financial Statements - Continued


2.   Quasi-Reorganization

     December  7, 2000, the shareholders of the Company approved  to
     adopt   quasi-reorganization  accounting  procedures.    Quasi-
     reorganization accounting allowed the Company to eliminate  its
     previous accumulated deficit of approximately $235,000  against
     additional paid-in capital.  Therefore, the adoption of  quasi-
     reorganization accounting procedures gave the Company a  Afresh
     start@   for   accounting  purposes.   The  Company   is   also
     considered  as re-entering a new development stage on  December
     31,  1993,  as it discontinued all of its previous  operations.
     These  financial statements have been restated to  reflect  the
     change.

        3.   Stock Split

     On  December 27, 2000, the Company approved a 100 for 1 reverse
     split  of  the  issued  and outstanding  common  stock  but  no
     shareholder's  ownership shall be less  than  100  shares.   An
     additional  43,394 shares were issued as a result  of  rounding
     up to the 100 share minimum.

     The  100 for 1 reverse split has been retroactively applied  in
     the accompanying financial statements.

        4.   Amended Articles of Incorporation

     On  December  27,  2000, the Company amended  its  articles  of
     incorporation  to  change  its name from  Messidor  Limited  to
     FrameWaves,  Inc.   In  addition,  the  Company  decreased  its
     authorized  shares  from 500,000,000 to 110,000,000  shares  of
     stock  of  which 100,000,000 shall be designated  common  stock
     and  10,000,000 shall be designated preferred stock.   At  June
     30,  2001,  no preferred stock has been issued by the  Company.
     The  Company has the authorization to issue the preferred stock
     in  one  or  more  series and to determine the  voting  rights,
     preferences   as  to  dividends  and  liquidation,   conversion
     rights, and other rights of each series.

5.   Issuance of Common Stock

     On  November 3, 2000, the Company issued 100,000 shares of  its
     $.001  par  value  common  stock  for  an  aggregate  price  of
     $10,000.  $5,000 was received in cash and $5,000  for  services
     rendered.

6.   Stock Options and Warrants

     The  Company has designated 2,000,000 shares of its  authorized
     and  unissued common stock to a future stock option  plan.   At
     June 30, 2001, there are no options or warrants outstanding  to
     acquire the Company's common stock.

                                  9
<PAGE>

Notes to Financial Statements - Continued

7.   Acquisition of Subsidiary

     On  December  27,  2000,  the  Company  acquired  100%  of  the
     outstanding common shares of Corners, Inc. in exchange for  the
     issuance  of 1,000,000 shares of its previously authorized  but
     unissued  common  stock.  Corners, Inc. was purchased  at  book
     value  of  $910 or $.001 per share.  The acquisition  has  been
     accounted  for on the purchase method and 100% of the  purchase
     price  was allocated to cash.  Corners, Inc. did not  have  any
     significant  revenues  or  expenses  during  the   year   ended
     December 31, 2000; therefore, pro forma condensed statement  of
     operations is not presented.

8.   Income Taxes

     The  Company has had no taxable income under Federal  or  State
     tax laws.


                                 10
<PAGE>



Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION OR PLAN OF OPERATION

Forward-Looking Statement Notice

When used in this report, the words "may," "will," "expect,"
"anticipate," "continue," "estimate," "project," "intend," and
similar expressions are intended to identify forward-looking
statements within the meaning of Section 27a of the Securities Act
of 1933 and Section 21e of the Securities Exchange Act of 1934
regarding events, conditions, and financial trends that may affect
the Company's future plans of operations, business strategy,
operating results, and financial position.  Persons reviewing this
report are cautioned that any forward-looking statements are not
guarantees of future performance and are subject to risks and
uncertainties and that actual results may differ materially from
those included within the forward-looking statements as a result of
various factors.  Such factors are discussed under the "Item 2.
Management's Discussion and Analysis of Financial Condition or Plan
of Operations," and also include general economic factors and
conditions that may directly or indirectly impact the Company's
financial condition or results of operations.

Three Month periods Ended June 30, 2001 and 2000

The Company had no revenue for the Three-month periods ended June
30, 2001 and 2000.

General and administrative expenses for the Three month periods
ended June 30, 2001 and 2000, consisted of general corporate
administration, legal and professional expenses, and accounting and
auditing costs.  These expenses were $538 and $-0- for the Three-
month periods ended June 30,  2001 and 2000 respectively.  The
increase in expense is due to the Company now having operations.

As a result of the foregoing factors, the Company realized a net
loss of $538 for the Three months ended June 30, 2001 as compared to
a net loss of $-0- for the same period in 2000.

Six Month periods Ended June 30, 2001 and 2000

The Company had no revenue for the Six-month periods ended June 30,
2001 and 2000.

General and administrative expenses for the Six month periods ended
June 30, 2001 and 2000, consisted of general corporate
administration, legal and professional expenses, and accounting and
auditing costs.  These expenses were $5,558 and $-0- for the Six-
month periods ended June 30,  2001 and 2000 respectively.  The
increase in expense is due to the Company now having operations.

As a result of the foregoing factors, the Company realized a net
loss of $5,558 for the Six months ended June 30, 2001 as compared to
a net loss of $-0- for the same period in 2000.

Liquidity and Capital Resources

At June 30, 2001 the Company had $880 cash in hand and total current
liabilities of $2,090 compared to $5,910 cash in hand and $1,562 in
current liabilities for the period ending December 31, 2000.

The Company has not been able to sell any of its services due to an
illness of one of the officers who holds the majority of contacts
with interior designers.  The Company anticipates it will begin to
generate revenue in the near future.

                                 11
<PAGE>

The Company believes that its current cash needs can be met with the
cash on hand and continued operations.  However, should the Company
find it necessary to raise additional capital, the Company may sell
common stock of the Company, take loans from officers, directors or
shareholders or enter into debt financing agreements.

                                 12
<PAGE>

PART II.  OTHER INFORMATION

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

Reports on Form 8-K:  No reports on Form 8-K were filed by the
Company during the quarter ended June 30, 2001.

Exhibits: None


                         SIGNATURES

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

                              FRAMEWAVES, INC.


Date: August 6, 2001        By:/s/ Thomas A. Thomsen
                              Thomas A. Thomsen
                              President



Date: August 6, 2001        By:/s/ Susan Santage
                              Susan Santage
                              Treasurer


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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