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

                                   FORM 10-QSB

(Mark One)

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

    For quarterly period ended September 30, 2002

[ ] 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: 000-30554


                                Future Carz, Inc.
             (exact name of registrant as specified in its charter)


            Nevada                                         88-0431029
 (State or other jurisdiction of               (IRS Employer Identification No.)
  incorporation or organization)


     PO Box 27585, Scottsdale, AZ                            85255
(Address of principal executive offices)                   (Zip Code)


       Registrant's telephone number, including area code: (702) 326-9396

Indicate by check mark whether the registrant: (1) has filed all reports
required 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 [ ]

The number of shares of the Registrant's Common Stock, as of November 15, 2002:
51,421,974.
<PAGE>
                                FUTURE CARZ, INC.
                  FORM 10-QSB, QUARTER ENDED SEPTEMBER 30, 2002


                                      INDEX

PART I FINANCIAL INFORMATION

     Item 1. Financial Statements

          Balance Sheet as of September 30, 2002 (Unaudited)                 3

          Statements of Operations for the Three and Nine Months
          Ended September 30, 2002 and 2001 (Unaudited)                      4

          Statements of Cash Flows for the Nine Months Ended
          September 30, 2002 (Unaudited)                                     5

          Notes to Financial Statements (Unaudited)                         6-7

          All schedules are omitted because they are not applicable
          or the required information is shown in the financial statements
          or notes thereto.

     Item 2. Management's Discussion and Analysis                           8-9

PART II OTHER INFORMATION

     Item 1. Legal Proceedings                                                10
     Item 2. Changes in Securities                                            10
     Item 3. Defaults Upon Senior Securities                                  10
     Item 4. Submission of Matters to a Vote of Security Holders              10
     Item 5. Other Information                                                10
     Item 6. Exhibits and Reports on Form 8-K                                 10

Signatures                                                                    11

                                       2
<PAGE>
ITEM 1. FINANCIAL STATEMENTS

                                FUTURE CARZ, INC.
                                  BALANCE SHEET
                               SEPTEMBER 30, 2002
                                   (UNAUDITED)

ASSETS

Current assets:                                                     $
                                                                    -----------

Fixed assets, net                                                        10,064
                                                                    -----------

                                                                    $    10,064
                                                                    ===========

LIABILITIES AND STOCKHOLDERS' (DEFICIT)

Current liabilities:
  Bank overdraft                                                    $       120
  Accounts payable and accrued expenses                             $   245,511
  Accrued interest                                                        6,444
  Accrued interest - related parties                                      9,629
  Notes payable                                                          50,000
  Notes payable - related parties                                        93,310
                                                                    -----------
      Total current liabilities                                         405,014
                                                                    -----------
Long-term liabilities:
  Notes payable - related parties                                        36,000
                                                                    -----------
Stockholders' (deficit):
  Preferred stock, $0.001 par value, 5,000,000 shares
   authorized, no shares issued and outstanding                              --
  Common stock, $0.001 par value, 20,000,000 shares
   authorized, 7,905,544 shares issued and Outstanding                    7,905
  Additional paid-in capital                                          6,171,738
  Accumulated (deficit)                                              (6,610,593)
                                                                    -----------
                                                                       (430,950)
                                                                    -----------

                                                                    $    10,064
                                                                    ===========

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

                                       3
<PAGE>
                                FUTURE CARZ, INC.
                            STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                      For the three months            For the nine months
                                                       ended September 30,            ended September 30,
                                                      2002           2001             2002            2001
                                                  -----------     -----------     -----------     -----------
                                                                  (Restated)                       (Restated)
<S>                                               <C>             <C>             <C>             <C>
Revenue                                           $        --     $    87,523     $        --     $   168,954
                                                  -----------     -----------     -----------     -----------
Expenses:
  Non-cash stock compensation                              --         165,652       1,015,214         488,869
  Write off of assets acquired by
   issuance of stock                                       --       1,568,400              --       3,134,340
  General and administrative                           22,783         164,554         205,661         604,205
  Depreciation and amortization                           758           2,718           2,274           7,267
                                                  -----------     -----------     -----------     -----------
                                                       23,541       1,901,324       1,223,149       4,234,681
                                                  -----------     -----------     -----------     -----------

Net operating (loss)                                  (23,541)     (1,813,801)     (1,223,149)     (4,065,727)
                                                  -----------     -----------     -----------     -----------
Other income (expenses):
  Interest income                                          --              --              --           1,017
  Interest expense                                     (4,319)         (7,623)        (17,978)        (16,890)
  (Loss) on disposal of assets                             --         (55,450)           (899)        (98,697)
  (Loss) on writedown of assets                            --        (146,973)             --        (379,735)
                                                  -----------     -----------     -----------     -----------

                                                       (4,319)       (210,046)        (18,877)       (494,305)
                                                  -----------     -----------     -----------     -----------

Net (loss)                                        $   (27,860)    $(2,023,847)    $(1,242,026)    $(4,560,032)
                                                  ===========     ===========     ===========     ===========
Weighted average number of common shares
 outstanding - basic and fully diluted              6,962,753       4,709,593       6,316,325       3,613,240
                                                  ===========     ===========     ===========     ===========

Net (loss) per share - basic and fully diluted    $     (0.00)    $     (0.43)    $     (0.20)    $     (1.26)
                                                  ===========     ===========     ===========     ===========
</TABLE>

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

                                       4
<PAGE>
                                FUTURE CARZ, INC.
                            STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

                                                       For the nine months
                                                       ended September 30,
                                                      2002             2001
                                                   ---------         ---------
                                                                     (Restated)
CASH FLOWS FROM OPERATING ACTIVITIES
  Net cash (used in) operating activities          $(109,758)        $(303,169)
                                                   ---------         ---------
CASH FLOWS FROM INVESTING ACTIVITIES
  Proceeds from sale of assets held for sale          26,727            67,813
  Advances on note receivable                             --            (1,000)
  Purchase of fixed assets                                --           (25,087)
                                                   ---------         ---------
Net cash provided by investing activities             26,727            41,726
                                                   ---------         ---------
CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from notes payable                             --            50,000
  Proceeds from notes payable - related parties       83,031           144,696
  Payments on notes payable - related parties             --            (6,000)
                                                   ---------         ---------
Net cash provided by financing activities             83,031           188,696
                                                   ---------         ---------

Net (decrease) in cash                                    --           (72,747)
Cash - beginning                                          --            77,257
                                                   ---------         ---------
Cash - ending                                      $      --         $   4,510
                                                   =========         =========

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

                                       5
<PAGE>
                                FUTURE CARZ, INC.
                        NOTES TO THE FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2002
                                   (UNAUDITED)

Note 1.  Basis of Presentation

The accompanying unaudited financial statements have been prepared in accordance
with accounting principles generally accepted in the United States of America
for interim financial information. They do not include all of the information
and footnotes required by accounting principles generally accepted in the United
States of America for complete financial statements. In the opinion of
management, all adjustments, consisting only of normal recurring adjustments,
considered necessary for a fair presentation, have been included in the
accompanying unaudited financial statements. Operating results for the periods
presented are not necessarily indicative of the results that may be expected for
the full year. For further information, refer to the financial statements and
notes thereto, included in the Company's Form 10-KSB as of and for the two years
ended December 31, 2001.

Note 2.  Earnings Per Share

The Company calculates net income (loss) per share as required by Statement of
Financial Accounting Standards 128, "Earnings per Share." Basic earnings (loss)
per share is calculated by dividing net income (loss) by the weighted average
number of common shares outstanding for the period. Diluted earnings (loss) per
share is calculated by dividing net income (loss) by the weighted average number
of common shares and dilutive common stock equivalents outstanding. During the
periods presented, common stock equivalents were not considered, as their effect
would be anti-dilutive.

Note 3.  Going Concern

The Company's financial statements are presented on a going concern basis, which
contemplates the realization of assets and satisfaction of liabilities in the
normal course of business.

For the nine months ended September 30, 2002 the Company incurred a net loss of
$1,242,026. At September 30, 2002, the Company had a working capital deficit of
$405,014 and stockholders' deficit of $430,950.

The Company experienced a change of control subsequent to September 30, 2002 and
is pursuing new lines of business. The Company's management has made plans to
alleviate the debt by issuing shares of common stock.

The ability of the Company to continue as a going concern is dependent upon its
ability to raise additional capital and, ultimately, the achievement of
significant operating revenues. The accompanying financial statements do not
include any adjustments that might be required should the Company be unable to
recover the value of its assets or satisfy its liabilities.

Note 4.  Stockholders' (Deficit)

On January 5, 2002, the Company effected a 1 for 3 reverse stock split of its
common stock. All share and per share amounts have been retroactively adjusted
to reflect the effect of the split.

On March 19, 2002, the Company issued 50,698 shares of its $0.001 par value
common stock at $0.50 per share, which approximates the fair market value of the
shares, to a related party in exchange for monies owed to him for operating
expenses aggregating $20,279. The difference between the fair market value of
the shares on the date the agreement was reached and the amount of the monies
owed to the related party of $5,070 was recorded as non-cash stock compensation.

                                       6
<PAGE>
On March 19, 2002, the Company issued 140,000 shares of its $0.001 par value
common stock at $0.50 per share, which approximates the fair market value of the
shares, to a related party noteholder in exchange for the payment of a note
outstanding valued at $56,000. The difference between the fair market value of
the shares on the date the agreement was reached to issue the shares and the
amount of the monies owed to the related party of $14,000 was recorded as
non-cash stock compensation.

On April 4, 2002, the Company issued 401,740 shares of its $0.001 par value
common stock at $0.29 per share, which approximates the fair market value of the
shares, to noteholders in exchange for payments of notes and accrued interest
outstanding valued at $196,511. The difference between the fair market value of
the shares on the date the agreement was reached and the amount of the monies
owed to related parties of $80,007 was recorded as additional paid-in capital.

On August 18, 2002, the Company issued 1,770,000 shares of its $0.001 par value
common stock at $0.05, which approximates the fair market value of the shares,
to noteholders and an officer in exchange for payments of notes and accrued
wages valued at $111,345 and $42,794, respectively. The difference between the
fair market value of the shares on the date the agreement was reached and the
amount of the monies owed to related parties of $65,639 was recorded as
additional paid-in capital.

During the year ended December 31, 2001, the Company issued 3,345,000 shares of
its $0.001 par value common stock with an aggregate value of $1,504,750 for
consulting services. As of December 31, 2001 the Company had recorded deferred
compensation of $996,144 related to these agreements. During the nine months
ended September 30, 2002 the Company has recorded non-cash stock compensation of
$996,144 related to these agreements, of which $273,104 represents amounts
written off due to non-performance by the consultants.

Note 5.  Contingencies

The Company is currently a defendant in a lawsuit against American Automotive
Group and other defendants relating to allegations of securities fraud by
certain shareholders of American Automotive Group. The Company was named in the
lawsuit due to its asset purchase of American Automotive Group's auto lease
assets during the year ended December 31, 2001. The Company is unable to
determine the likelihood or amount of any damages.

Note 6:  Correction of an Error

The accompanying financial statements for the period ended September 30, 2001
have been restated to correct errors primarily recording non-cash stock
compensation. The effect of the restatement was to increase net (loss) for the
nine months ended September 30, 2001 by $352,335, or $0.05 per share.

Note 7.  Subsequent Events

Subsequent to September 30, 2002 the Company increased its authorized shares of
common stock to 100,000,000.

On October 26, 2002 the Company entered into a stock purchase agreement whereby
it will issue 43,290,934 shares of its $0.001 par value common stock in exchange
for cash of $325,779 and assumption of certain liabilities not to exceed
$50,000.

On November 1, 2002 the Company issued 160,496 shares of its $0.001 par value
common stock. Of this amount, 6,650 shares were issued to satisfy debt of $665
and 153,846 shares were for consulting services to be provided at a future date.

                                       7
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND PLAN OF OPERATION

FORWARD LOOKING STATEMENTS

This Quarterly Report contains forward-looking statements about our business,
financial condition and prospects that reflect our assumptions and beliefs based
on information currently available. We can give no assurance that the
expectations indicated by such forward-looking statements will be realized. If
any of our assumptions should prove incorrect, or if any of the risks and
uncertainties underlying such expectations should materialize, our actual
results may differ materially from those indicated by the forward-looking
statements.

The key factors that are not within our control and that may have a direct
bearing on operating results include, but are not limited to, the acceptance of
our services, our ability to close auto loans, our ability to raise capital in
the future, the retention of key employees and changes in the regulation of our
industry.

There may be other risks and circumstances that we are unable to predict. When
used in this Quarterly Report, words such as, "believes," "expects," "intends,"
"plans," "anticipates," "estimates" and similar expressions are intended to
identify forward-looking statements, although there may be certain
forward-looking statements not accompanied by such expressions. All
forward-looking statements are intended to be covered by the safe harbor created
by Section 21E of the Securities Exchange Act of 1934.

GENERAL

We were organized in July 13, 1999, and were involved in the used automobile
leasing industry with a principal business objective to offer financial
alternatives to qualified individuals who do not meet traditional financing
terms. The result is a new type of leasing organization capable of building
highly profitable brand-name stores in a largely untapped market within the used
automobile industry.

By the end of the fourth quarter 2001 we had decided to abandon the automobile
leasing industry and start looking for a new business model. We are currently
looking for a business model related to the automotive industry.

RESULTS OF OPERATIONS

Revenue for the three months September 30, 2002 was $0; as compared to the
three-month periods ended September 30, 2001 of $87,523. No revenues have been
realized for the nine months ended September 30, 2002 due to the lack of
operating capital needed to provide our services and the corporation's decision
to exit from the auto leasing business.

Total operating expenses for the three and nine months ended September 30, 2002
were $23,541 and $1,223,149. This represents a decrease of $1,877,783 in total
operating expenses from the comparable three month period ended September 30,
2001, when we reported total operating expenses of $1,790,260. The decrease in
expenses is attributable to the abandonment of our original business model to a
lack of working capital.

Non-cash stock compensation for the three and nine months ended September 30,
2002 was $- and $1,015,214, respectively, as compared to the three and
nine-month periods ended September 30, 2001 was $165,652 and $488,869. For the
three months ending September 30, 2002 this increase was due primarily to the
amortization of consulting agreements entered into during the year. Non-cash
stock compensation for the nine months ending September 30, 2002 was
significantly higher than the comparable period in 2001 due to the engagement of
several consultants in the 4th quarter of 2001, which expense was deferred until
2002 when the services were provided.

General and administrative expenses for the three and nine months ended
September 30, 2002 were $22,783, and $205,661, respectively, as compared to the
three and nine-month periods ended September 30, 2001 were $164,554 and
$604,205. This decrease was due primarily to the scaling back of operations
during 2002 due to the lack of working capital.

                                       8
<PAGE>
We recorded a net loss for the three months ending September 30, 2002 of $27,860
as compared to the loss of $1,813,801 reported in the comparable period of 2001.

Net cash used in operations activities for the three months ended September 30,
2002 was $109,758 as compared to net cash used in operational activities of
$303,169 reported in the comparable period of 2001. This was due to an overall
decrease in general and administrative expenses.

Cash flow for investing activities for the nine months ended September 30, 2002
was $26,727, which is comprised of proceeds from sale of assets held for sale of
$26,727. For the comparable period in 2001 we received proceeds of $67,813.

Cash flow for financing activities for the nine months ending September 30, 2002
was $83,031. This amount represents advances on note payables from related
parties. During the comparable period in 2001 the Company was the maker on
$60,000 on notes related to a Private Placement, as well as other advances of
$134,696.

FUTURE BUSINESS

By the end of the fourth quarter 2001 we had decided to abandon the automobile
leasing industry and start looking for a new business model. We spent the
majority of 2002 looking for a business model related to the automotive
industry. In August we signed a Letter of Intent with The Jack Watters Group.
Their intent is to execute the original automobile leasing business plan.

LIQUIDITY AND CAPITAL RESOURCES

Net Loss. We experienced a net loss of $27,860 for the three months ended
September 30, 2002, as compared to a net loss of $2,023,847 in the three month
period ended September 30, 2001.

We estimate our capital requirements to total approximately $100,000 per month
for the next 2 to 4 months. On November 1, 2002 The Jack Watters Group acquired
controlling interest in Future Carz with the intent of aggressively executing
the Corporation's auto leasing business plan. In the next 2 to 4 months we will
be opening new locations in San Diego and Phoenix. The opening of these
locations will require the needed capital for security fees, constructions cost,
the hiring of new employees, brand name marketing, and product advertising fees
to name a few. Due to our aggressive plan in opening locations, we expect our
capital requirements to continue to grow thereafter.

GOING CONCERN. Since its inception, the Company has been engaged substantially
in developing its product line, which required substantial amounts of working
capital. As a result, the Company incurred net losses during the nine months
ended September 30, 2002 of $1,242,026. The Company also had a working capital
and stockholders deficits of $405,014 and $430,950, respectively at September
30, 2002. In addition, the Company's development activities since inception have
been financially sustained by debt and capital contributions from its affiliates
and others. The Company's management has made plans to alleviate the debt by
issuing shares of common stock. The Company is pursuing new lines of business
and increasing equity through the issuance of stock. The ability of the Company
to continue as a going concern is dependent upon its ability to raise additional
capital from the sale of common stock and, ultimately, the achievement of
significant operating revenues. The accompanying financial statements do not
include any adjustments that might be required should the Company be unable to
recover the value of its assets or satisfy its liabilities.

                                       9
<PAGE>
                          PART II -- OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We are listed as a defendant in a lawsuit against American Automotive
Corporation and its officers by a few of their previous shareholders. We feel
Future Carz is protected by the agreement between the company and American
Automotive Corporation and do not see any merit to the lawsuit related to Future
Carz.

ITEM 2. CHANGES IN SECURITIES

None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

99.1  Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

                                       10
<PAGE>
                                 SIGNATURE PAGE

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.

                                FUTURE CARZ, INC.

By: /s/ Ethel Merriman
   --------------------------
   Ethel Merriman
   President


Dated: November 19, 2002

                                       11
<PAGE>
                                 CERTIFICATIONS

I, Ethel Merriman, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of FutureCarz, Inc.;

2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report; and

3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report.

4. I am responsible for, establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the
registrant and I have:

     a)   designed such disclosure controls and procedures to ensure that
          material information relating to the registrant is made known to me
          particularly during the period in which this quarterly report is being
          prepared;

     b)   evaluated the effectiveness of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   presented in this quarterly report my conclusions about the
          effectiveness of the disclosure controls and procedures based on our
          evaluation as of the Evaluation Date;

5. I have disclosed, based on my most recent evaluation, to the registrant's
auditors and the audit committee of registrant's board of directors (or persons
performing the equivalent function):

     a)   all significant deficiencies in the design or operation of internal
          controls which could adversely affect the registrant's ability to
          record, process, summarize and report financial data and have
          identified for the registrant's auditors any material weaknesses in
          internal controls; and

     b)   any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          controls; and

6. I have indicated in this quarterly report whether or not there were
significant changes in internal controls or in other factors that could
significantly affect internal controls subsequent to the date of our most recent
evaluation, including any corrective actions with regard to significant
deficiencies and material weaknesses.

Date: November 19, 2002

By: /s/ Ethel Merriman
   --------------------------
   Ethel Merriman
   President

                                       12