10QSB

               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:   September 30, 1997

OR

[ ] 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: 33-14707-NY

                       FREEDOM FUNDING, INC.
(Exact name of small business issuer as specified in its charter)

         Colorado                              84-1047159
(State or other jurisdiction of              (I.R.S. employer
incorporation or organization)              identification number)

1999 Broadway, Ste. 3235, Denver, Colorado         80202
 (Address of principal executive offices)        (Zip Code)

Issuer's telephone number, including area code:  (303) 292-2992

Indicate by check mark whether the issuer (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

Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date:  As of
October 13, 1997, there were approximately 8,301,300 shares
outstanding.

I.  PART I -  FINANCIAL INFORMATION

Item 1.  Financial Statements

                     FREEDOM FUNDING, INC.
                 (a development stage company)

                         BALANCE SHEET


                         September 30,  December 31,
                            1997           1996
CURRENT ASSETS:
Cash                    $     -          $     -

OTHER ASSETS:
Total Assets                  -                -

LIABILITIES AND
   STOCKHOLDERS' EQUITY:
Current Liabilities
  Trade Accounts payable  54,905               -
     Total Liabilities    54,905               -

Stockholders' Equity:
  Preferred stock, par
  value $.001 per share.
  Authorized 100,000,000
  shares; none issued.         -               -

  Common stock, $.0001
  par value, per share.
  Authorized 500,000,000
  shares; issued:
  2,301,300 on December
  31, 1996, and
  8,301,300 on September
  30, 1997                   830             230

  Additional paid-in
    capital              124,910         124,910
  Accumulated deficit   (180,645)       (125,140)

 Total Liabilities and
   Shareholders' Equity  $     -        $      -

See accompanying Notes to Financial Statements 


                    FREEDOM FUNDING, INC.
                (a development stage company)

                    STATEMENTS OF OPERATIONS

                        Nine Months Ended September 30,
                             1997           1996

Revenues                    $     -      $      -

Costs and expenses 
  Operational expenses       54,905             -

Net income (loss)           (54,905)            -

Net income (loss) per
    common share                  *             *

Weighted average number of 
 common shares outstanding   8,301,300      2,301,300

* Less than $.01 per share


See accompanying Notes to Financial Statements 


                     FREEDOM FUNDING, INC.
                (a development stage company)

                    STATEMENTS OF CASH FLOWS

                           Nine Months Ended September 30,
                                1997           1996

Operations:
  Net (loss)                  (54,905)             -

Items not requiring
  working capital:

  Increase (decrease) in
    accounts payable           54,905              -

Net cash from operations            -              -

Financing:
  Sale of common stock              -              -

Net increase (decrease) in cash     -              -

Cash at beginning of period         -              -

Cash at end of period               -              -

See accompanying Notes to Financial Statements 


                      FREEDOM FUNDING, INC.
                 (a development stage company)
                  Notes to Financial Statements
                           (Unaudited)

In the opinion of management, all adjustments (consisting of normal
recurring adjustments) considered necessary for a fair presentation
of the financial condition of registrant have been included, and
the disclosures are adequate to make the information presented not
misleading.

Note 1.  A summary of significant accounting policies is currently
on file with the U.S. Securities and Exchange Commission in
registrant's Form S-18 effective in 1987.

Note 2.  The loss per share was computed by dividing net loss by
the weighted average number of shares of common stock outstanding
during the period.

Note 3.  Registrant has not declared or paid dividends on its
common shares since inception.

Note 4.  The accompanying unaudited condensed financial statements
have been prepared in accordance with the instructions to Form 10-Q
and do not include all information and footnotes required by
generally accepted accounting principles for complete financial
statements.

Note 5.  Income taxes have not been provided for in that registrant
has not had a tax liability from inception through the date of this
filing, due to operating losses.

Item 2.  Management's Discussion and Analysis of Financial
Condition and Results of Operations

Liquidity

The Company has not generated any cash flows from operating or
investing activities since inception.  Operating capital was
primarily provided from inception through 1987 from the proceeds of
an initial funding prior to a public offering and then from the
public offering itself.  The proceeds of these efforts resulted in
approximate gross proceeds of $47,000 in cash and services valued
at $1,000.  An additional $77,140 in operating capital was provided
through the exercise of warrants in the final quarter of 1988, all
of which was expended in the final quarter of 1988.

Results of Operations

The Company had no operations, other than its search for a business
opportunity, from inception through 1988.   In 1989, these efforts
ceased due to lack of working capital.  In 1997, this business plan
was again implemented due to an agreement with Mr. Mark S. Pierce
to infuse working capital and services as needed up to the amount
of $100,000.

                   PART II - OTHER INFORMATION

Item 1.  Litigation

No material legal proceedings to which the Company (or any officer
or director of the Company, or any affiliate or owner of record or
beneficially of more than five percent of the Common Stock, to
management's knowledge) is a party or to which the property of the
Company is subject is pending and no such material proceeding is
known by management of the Company to be contemplated.

Item 2.   Change in Securities

This item is not applicable to the Company for the period covered
by this report.

Item 3.  Defaults Upon Senior Securities

This item is not applicable to the Company for the period covered
by this report.

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

There were no meetings of security holders during the period
covered by this report; thus, this item is not applicable.

Item 5.  Other Information

There is no additional information which the Company is electing to
report under this item at this time.

Item 6.  Exhibits and Reports on Form S-K

No reports on Form 8-K were filed by the Company during the period
covered by this report.


                          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 this 13th day of October, 1997.

FREEDOM FUNDING, INC.
(Registrant)

By:      /s/ Mark S. Pierce
         Mark S. Pierce, President and 
            Chief Executive Officer

By:      /s/ Mark S. Pierce
         Mark S. Pierce, Chief Financial
            and Accounting Officer and
            Treasurer

EX-27

 

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