UNITED STATES
                      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 period ended  - March 31, 2000

          				OR

[ ]           TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
       	      SECURITIES EXCHANGE ACT OF 1934
              For the transition period from

            		Commission file number 0-28931

	                MAS ACQUISITION XXIII CORP.
              (Name of Small Business Issuer in its charter)



                Indiana                                       35-2089855
    (State or other jurisdiction of                    (I.R.S. Employer
     incorporation or organization                      Identification Number)


     1710 E. Division St., Evansville, Indiana           47711
     (Address of principal executive offices)          (Zip Code)

     Registrant's telephone number, including area code: (812) 479-7266



     Securities registered under Section 12(b) of the Act: None

     Securities registered under Section 12(g) of the Act:

               Common Stock, $.001 par value per share
                           (Title or class)

     Indicate by check mark whether the Registrant (1) has filed all reports
     required to be filed by Section 13 or 15(D) of the securities Exchange Act
     of 1934 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 March 31, 2000, the Registrant has outstanding 8,519,900 shares
     of Common Stock.

MAS Acquisition XXIII Corp. Form 10-QSB Quarterly Report March 31, 2000 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. (1) Financial Statements Page Balance Sheet at March 31, 2000 and December 31, 1999 (unaudited) F-1 Statements of Operations for the three months ended March 31, 2000 and 1999 (unaudited) F-2 Statement of Changes in Stockholder's Equity for the period from December 31, 1999 to March 31, 2000 (unaudited) F-3 Statements of Cash Flows for the three months ended December 31, 2000 and 1999 F-4 Notes to Unaudited Financial Statements F-5

MAS Acquisition XXIII Corp. (A Development Stage Company) Balance Sheet Assets March 31, December 31, 2000 1999 --------- ------------ Current assets: Total current assets $ - $ - Other assets: Organization costs net of amortization of $59 31 36 and $54 -------- -------- Total assets $ 31 $ 36 ======== ======== Liabilities and Stockholders' Equity Current liabilities: Total current liabilities $ - $ - Stockholders' equity: Preferred stock, $.001 par value 20,000,000 shares authorized, none issued or outstanding - - Common stock, $.001 par value, 80,000,000 shares authorized, 8,519,900 shares issued and outstanding 111 111 Deficit accumulated during the development stage (80) (75) -------- -------- Total liabilities and stockholders' equity $ 31 $ 36 ======== ======== Read the accompanying notes to the financial statements.

MAS Acquisition XXIII Corp. (A Development Stage Company) Statements of Operations Three Months Ended March 31, ----------------------------- 2000 1999 ------------ ----------- Revenue $ - $ - Costs and expenses: General and Administrative 5 5 ---------- --------- Net (loss) $ (5) $ (5) ========== ========= Per share information: Weighted average number of common shares outstanding - basic and fully diluted 8,519,900 8,519,825 ========= ========= (Loss) per share - basic and fully diluted $ (.00) $ (.00) ========= ========= Read the accompanying notes to the financial statements.

MAS Acquisition XXIII Corp. (A Development Stage Company) Statement of Changes in Stockholders' Equity Deficit Accumulated During the Common Stock Development Stage Total ---------------- ------------------- ----- Shares Amount ------ ------ Balance December 31, 1999 8,519,900 111 (75) 36 Net (loss) for the period - - (5) (5) --------- -------- --------- --------- Balance March 31, 2000 8,519,900 $ 111 $ (80) $ 31 ========= ======== ========= ========= Read the accompanying notes to the financial statements.

MAS Acquisition XXIII Corp. (A Development Stage Company) Statements of Cash Flows Three Months Ended March 31, ------------------------ 2000 1999 ----------- ----------- Cash Flows From Operating Activities: Net (loss) $ (5) $ (5) Adjustments to reconcile net (loss) to net cash provided by (used in) operating activities: Amortization 5 5 Issuance of common stock for services - - Gift shares issued - - ---------- ----------- Net cash provided by (used in) operations - - ---------- ----------- Cash flows from investing activities: Net cash provided by (used in) investing activities - - ---------- ----------- Cash flows from financing activities: Net cash provided by (used in) financing activities - - ---------- ----------- Net increase (decrease) in cash and cash equivalents - - ---------- ----------- Beginning cash and cash equivalents - - ---------- ----------- Ending cash and cash equivalents $ - $ - ========== =========== Supplemental disclosure of cash flow information: Cash paid for: Income taxes $ - $ - Interest $ - $ - Supplemental schedule of non-cash investing and financing activities: Common shares issued for organization costs $ - $ - Read the accompanying notes to the financial statements.

MAS Acquisition XXIII Corp. (A Development Stage Company) Notes to Financial Statements As of March 31, 2000 Note 1. SIGNIFICANT ACCOUNTING POLICIES A. Organization The Company was incorporated on January 6, 1997, in the State of Indiana. The Company is in the development stage and its intent is to locate suitable business ventures to acquire. The Company has had no significant business activity to date and has chosen December 31, as a year end. B. Cash and cash equivalents Cash and cash equivalents consist of cash and other highly liquid debt instruments with an original maturity of less than three months. C. Intangible assets The cost of intangible assets is amortized using the straight line method over the estimated useful economic life (five years for organization costs). They are stated at cost less accumulated amortization. The Company reviews for the impairment of long-lived assets and certain identifiable intangibles whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. An impairment loss would be recognized when estimated future cash flows expected to result from the use of the asset and its eventual disposition is less than its carrying amount. No such impairment losses have been identified in the periods presented. D. Net loss per share Net loss per share is computed by dividing the net loss for the period by the weighted average number of common shares outstanding for the period. E. Use of estimates The preparation of the Company's financial statements requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. Note 2. STOCKHOLDERS' EQUITY At inception the Company issued 8,500,000 shares of its $.001 par value common stock to an officer as reimbursement of organization costs paid by the officer. Fair value used for this transaction of $90 is based upon the actual cost of incorporation.

MAS Acquisition XXIII Corp. (A Development Stage Company) Notes to Financial Statements As of December 31, 1999 (Continued) During January, 1997 the Company issued 500 shares of its $.001 par value common stock to directors as compensation valued at $1. During March, 1997 the Company issued 7,750 shares of its common stock to foreign citizens as a gift with an aggregate fair value of $8. During September, 1998 the Company issued 750 shares of its $.001 par value common stock to directors as compensation valued at $1. During September, 1998 the Company issued 10,800 shares of its common stock to foreign citizens as a gift with an aggregate fair value of $11. During October, 1999 the Company issued 100 shares of its $.001 par value common stock for services valued at $0. Note 3. INCOME TAXES Deferred income taxes may arise from temporary differences resulting from income and expense items reported for financial accounting and tax purposes in different periods. Deferred taxes are classified as current or non- current, depending on the classifications of the assets and liabilities to which they relate. Deferred taxes arising from temporary differences that are not related to an asset or liability are classified as current or non- current depending on the periods in which the temporary differences are expected to reverse. The deferred tax asset related to the operating loss carryforward has been fully reserved. The Company's net operating loss carryforwards expire in 2012 through 2014. Note 4. GOING CONCERN CONSIDERATION The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplates the continuation of the Company as a going concern. As discussed in Note 1 the Company is in the development stage and the realization of its assets is dependent upon its ability to meet its future financing requirements, and the success of its future operations. Management plans include obtaining additional equity financing and the acquisition of a suitable business venture to provide the opportunity for the Company to continue as a going concern.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITIONS. The following discussion should be read in conjuction with the information contained in the financial statements of the Company and the Notes thereto appearing elsewhere herein. Results of Operations - Inception (January 6, 1997) through March 31, 2000. The Company is considered to be in the development stage as defined in Statement of Financial Accounting Standards No. 7. There have been no operations since inception. Liquidity and Capital Resources. The Company has no cash as of March 31, 2000.

Part II. OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K The Company did not file any reports on Form 8-K during the quarter ended March 31, 2000.

SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MAS ACQUISITION XXIII Corp. Date: April 28, 2000 By: /s/ Aaron Tsai ---------------------------------- Aaron Tsai President, Chief Executive Officer Treasurer and Director

  

5 This schedule contains summary financial information extracted from the Balance Sheet at March 31, 2000 (unaudited) and the Statement of Operations for the three months ended March 31, 2000 (unaudited) and is qualified in its entirety by reference to such financial statements. 3-MOS DEC-31-2000 MAR-31-2000 0 0 0 0 0 31 0 0 31 0 0 0 0 31 0 31 0 0 0 0 (5) 0 0 (5) 0 0 0 0 0 (5) 0 0