UNITED STATES
                       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, 2003

                                       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 0-25413


                                   REINK CORP.
                                   -----------
        (Exact name of Small Business Issuer as Specified in its Charter)


                     DELAWARE                           65-0602729
                     --------                           ----------
           (State or Other Jurisdiction               (IRS Employer
         of Incorporation or Organization)          Identification No.)


         2085 Hurontario Road, Suite 300, Mississauga, Ontario, L5A 4G1
         --------------------------------------------------------------
                    (Address of Principal Executive Offices)


                                 (905) 206-1604
                                 --------------
                (Issuer's Telephone Number, Including Area Code)

         Check 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___


                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity as of the latest practicable date: As of November 30, 2003 the Registrant
had 21,652,850 shares of Common Stock outstanding.

         Transmittal Small Business Disclosure Format (check one)

                                Yes ___   No _X_

<PAGE>
                                   REINK CORP.
                                   FORM 10-QSB
                    For the Quarter Ended September 30, 2003

                                     Index
                                                                           Page
                                                                          Number
                                                                          ------
PART I   CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Item 1.  Condensed Consolidated Balance Sheet at September 30, 2003............3

         Condensed Consolidated Statements of Operations for the
            three and nine month periods ended September 30, 2003
            and September 30, 2002.............................................4

         Condensed Consolidated Statements of Cash Flows for the
            nine month periods ended September 30, 2003 and
            September 30, 2002.................................................5

         Notes to Condensed Consolidated Financial Statements...............6-12

Item 2.  Management's Discussion and Analysis or Plan of Operation.........13-14

Item 3.  Controls and Procedures..............................................14


PART II  OTHER INFORMATION

Item 1.  Legal Proceedings....................................................15

Item 2.  Changes in Securities................................................15

Item 3.  Defaults Upon Senior Securities......................................15

Item 4.  Submission of Matters to a Vote of Security Holders..................15

Item 5.  Other Information....................................................15

Item 6.  Exhibits and Reports on Form 8-K.....................................15


                                       2
<PAGE>
                           REINK CORP AND SUBSIDIARIES

                      CONDENSED CONSOLIDATED BALANCE SHEET
                               SEPTEMBER 30, 2003
                                   (unaudited)

                                     ASSETS

CURRENT ASSETS
   Cash .........................................................   $       423
   Assets of Discontinued Operation .............................       370,816
                                                                    -----------
        TOTAL CURRENT ASSETS ....................................       371,239

Other Assets ....................................................         6,630
                                                                    -----------
                                                                    $   377,869
                                                                    ===========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
   Accounts Payable .............................................   $   273,352
   Accrued Expenses (including $206,900 to a related party) .....       254,400
   Liabilities of Discontinued Operation ........................     2,125,341
   Notes Payable - Related Party (including accrued
      interest of $97,640) ......................................       518,140
   Notes Payable (including accrued interest of $61,853) ........       416,853
                                                                    -----------
        TOTAL CURRENT LIABILITIES ...............................     3,588,086
                                                                    -----------

STOCKHOLDERS' DEFICIENCY
   Common Stock, $.001 par value,
      100,000,000 shares authorized,
      21,652,850 shares issued and outstanding ..................        21,653
   Additional Paid-In-Capital ...................................     6,285,847
   Accumulated Deficit ..........................................    (9,517,717)
                                                                    -----------
        TOTAL STOCKHOLDERS' DEFICIENCY ..........................    (3,210,217)
                                                                    -----------
                                                                    $   377,869
                                                                    ===========

            See notes to condensed consolidated financial statements

                                       3
<PAGE>
<TABLE>
                                     REINK CORP AND SUBSIDIARIES

                           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                             (unaudited)
<CAPTION>

                                              Three Months Ended             Nine Months Ended
                                                 September 30,                 September 30,
                                          ---------------------------   ---------------------------
                                              2003           2002           2003           2002
                                          ------------   ------------   ------------   ------------
<S>                                       <C>            <C>            <C>            <C>
REVENUES ...............................  $          -   $          -   $          -   $          -

COST OF GOODS SOLD .....................             -              -              -              -
                                          ------------   ------------   ------------   ------------
     GROSS PROFIT ......................             -              -              -              -
                                          ------------   ------------   ------------   ------------

OPERATING EXPENSES
     Selling, general and administrative       209,167         72,451        507,545        182,991
     Research and development ..........             -         40,147              -        102,284
     Impairment of asset ...............        89,000              -         89,000              -
     Depreciation and amortization .....             -          8,000          8,000         16,000
                                          ------------   ------------   ------------   ------------
     TOTAL OPERATING EXPENSES ..........       298,167        120,598        604,545        301,275
                                          ------------   ------------   ------------   ------------

LOSS FROM OPERATIONS ...................      (298,167)      (120,598)      (604,545)      (301,275)

     INTEREST EXPENSE ..................        34,065         13,125        102,123         47,767
                                          ------------   ------------   ------------   ------------

LOSS FROM CONTINUING OPERATIONS ........      (332,232)      (133,723)      (706,668)      (349,042)

INCOME (LOSS) FROM DISCONTINUED
     OPERATIONS ........................             -        155,207       (210,688)       462,679
                                          ------------   ------------   ------------   ------------

NET INCOME(LOSS) .......................  $   (332,232)  $     21,484   $   (917,356)  $    113,637
                                          ============   ============   ============   ============

PER SHARE INFORMATION

NET LOSS FROM CONTINUING
OPERATIONS .............................  $      (0.02)  $      (0.01)  $      (0.03)  $      (0.02)

NET (LOSS) INCOME FROM
DISCONTINUED OPERATIONS ................             -           0.01          (0.01)         (0.03)
                                          ------------   ------------   ------------   ------------

NET (LOSS) INCOME PER SHARE,
     BASIC AND DILUTED .................  $      (0.02)  $       0.00   $      (0.04)  $       0.01
                                          ============   ============   ============   ============

WEIGHTED AVERAGE NUMBER OF
     SHARES USED IN  COMPUTATION .......    21,652,850     21,652,850     21,652,850     21,015,350
                                          ============   ============   ============   ============

                      See notes to condensed consolidated financial statements

                                                 4
</TABLE>
<PAGE>
<TABLE>
                                    REINK CORP. AND SUBSIDIARIES

                           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                             (unaudited)
<CAPTION>
                                                                             Nine Months Ended
                                                                               September 30,
                                                                        ---------------------------
                                                                            2003            2002
                                                                        -----------       ---------
<S>                                                                     <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net (Loss) income .............................................      $  (917,356)      $ 113,638

  Adjustments to reconcile net loss to net cash
   provided used in operating activities:
   Depreciation and amortization .................................           14,780         172,736
   Impairment of asset ...........................................           89,000               -
   Accrued Interest on notes payable .............................           66,595               -
   Warrants issued in connection with notes payable ..............                -          33,221
   Write down of fixed assets ....................................           61,939               -

  Changes in operating assets and liabilities:
   Accounts receivable ...........................................          246,599        (221,536)
   Inventories ...................................................          343,423         129,017
   Prepaid expenses and other current assets .....................                -         (15,500)
   Accounts payable and accrued expenses .........................       (1,738,476)       (236,577)
   Assets of discontinued operation ..............................         (370,816)              -
   Liabilities of discontinued operation .........................        2,125,341               -
                                                                        -----------       ---------
         Total Adjustments .......................................          838,385        (138,639)

NET CASH USED IN OPERATING ACTIVITIES ............................          (78,971)        (25,001)
                                                                        -----------       ---------

CASH FLOWS FROM INVESTING ACTIVITIES
   Proceeds from sale of fixed assets ............................           21,377               -
   Purchase of fixed assets ......................................                -         (28,647)
                                                                        -----------       ---------
                                                                             21,377         (28,647)
                                                                        -----------       ---------

CASH FLOWS FROM FINANCING ACTIVITIES
   Proceeds from issuance of note payable ........................          170,000         185,000
   Sale of land ..................................................          600,000               -
   Decrease in mortgage payable ..................................         (600,000)              -
   Repayment of borrowings from financing company ................         (118,652)       (156,920)
   Proceeds from sales of common stock and warrants ..............                -          80,000
                                                                        -----------       ---------
NET CASH PROVIDED BY FINANCING ACTIVITIES ........................           51,348         108,080
                                                                        -----------       ---------

NET INCREASE (DECREASE) IN CASH ..................................           (6,246)         54,432

CASH AT BEGINNING OF YEAR ........................................            6,669         111,626
                                                                        -----------       ---------

CASH AT END OF PERIOD ............................................      $       423       $ 166,058
                                                                        ===========       =========

                      See notes to condensed consolidated financial statements

                                                 5
</TABLE>
<PAGE>
                          REINK CORP. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2003
                                   (unaudited)

1. ORGANIZATION AND SIGNIFICANT EVENTS

Reink Corp, Inc. (the "Company" or "Reink") was incorporated in Delaware on
March 6, 1999 and, through its wholly owned subsidiaries Reink Imaging USA, Ltd.
("Reink USA") and Reink Canada Corp. ("Reink Canada"), previously manufactured
bulk ink and toner cartridges for sale to customers as well as ink for use in
the manufacturing of ink jet refill kits using a patented method to refill ink
jet cartridges and re-manufacture compatible cartridges. The products were sold
to both wholesale distributors and retail office supply stores. Effective July
10, 2003 the Company's main operating subsidiary, Reink USA filed for bankruptcy
under Chapter 7 "liquidation" of the United States Bankruptcy Code and as a
result the Company's operations have ceased until new financing has been
completed. Since the Company's operations have ceased and management cannot
determine if its Patents will generate future cash flows management determined
that the estimated fair value of the Patents were zero. Accordingly, the Company
expensed $89,000 as an impairment charge during the third quarter.

On December 31, 2002, the CEO, VP of Finance and one of the production chemists
from the Company's R&D facility resigned (the "Former Officers"). Prior to
resigning the Former officers dismissed all employees of the Company's main
operating subsidiary, Reink USA. The Company has commenced legal proceedings
against the Former Officers of the Company for actions it believes to be in
violation of non-competition and confidentiality clauses within their employment
contracts.

As a result of the departure of the Former Officers, the remaining management
dropped the impact ribbon business product line and also made the decision to
outsource the remanufactured toner business in 2003. In January 2003, the
Company closed down its manufacturing facility in Pennsauken, New Jersey and
moved all inventory and equipment to other locations. At December 31, 2002 the
Company wrote down inventories related to the impact ribbons and toner product
lines to their estimated fair values. The Company had an impairment charge on
certain fixed assets as a result of closing the manufacturing facility. In
addition, the Company had an impairment charge on its goodwill relating to the
changes to the impact ribbon and toner product lines.

In January 2003, the three largest creditors of Reink USA filed a petition to
move the subsidiary into Chapter 7 "Liquidation" under the US Federal Bankruptcy
Code. The Company believes that some of the creditors involved with the petition
are supplying the new business, which competes directly with the Company,
founded by the Former Officers. Reink USA filed a motion to have the petition
dismissed since the third creditor withdrew from the filing and also since the
counsel for the petitioners withdrew. Subsequently the remaining two creditors
provided a new third creditor and amended the filing. This new third creditor
also subsequently withdrew and the two remaining creditors found two other
creditors and filed an amendment. During March 2003, the subsidiary's motion to
convert to a voluntary chapter 11 was accepted by the District of New Jersey,
Federal Bankruptcy Court. As a result of failed negotiations with the Company's
largest suppliers, on July 10, 2003, Reink USA was moved from Chapter 11
"Reorganization" into Chapter 7 "Liquidation" and a Bankruptcy Trustee was
appointed to administer the estate. As a result the Company has lost control of
Reink USA and Reink USA is presented for all periods as a discontinued
operation.

                                       6
<PAGE>

The Company has incurred recurring losses and has a working capital deficiency,
at September 30, 2003, of approximately $3.2 million. The Company expects that
in order to restart operations it will require capital infusions of a minimum of
$1,500,000 necessary to fund the purchase of inventory and to meet the Company's
working capital needs. During the nine months ended September 30, 2003 the
Company raised an additional $170,000 through the issuance of promissory notes
bearing interest at 12%, payable semi-annually and convertible into common stock
at $0.05/share.

Any future operations are dependent upon the Company's ability to obtain
additional debt or equity financing, and its ability to restart operations and
generate revenues sufficient to fund its operations. There can be no assurances
that the Company will be successful in its attempts to generate positive cash
flows or raise sufficient capital essential to its survival. To the extent that
the Company is unable to generate or raise the necessary operating capital it
will become necessary to cease all operations. Additionally, even if the Company
does raise operating capital, there can be no assurances that the net proceeds
will be sufficient enough to enable it to develop its business to a level where
it will generate profits and positive cash flows. These matters raise
substantial doubt about the Company's ability to continue as a going concern.
However, the accompanying financial statements have been prepared on a going
concern basis, which contemplates the realization of assets and satisfaction of
liabilities in the normal course of business. The financial statements do not
include any adjustments relating to the recovery of the recorded assets or the
classification of the liabilities that might be necessary should the Company be
unable to continue as a going concern.

2. BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements have been prepared
in accordance with generally accepted accounting principles for interim
financial information and the instructions to Form 10-QSB. Accordingly, they do
not include all of the information and footnotes required by generally accepted
accounting principles for complete financial statements. In the opinion of
management, all adjustments (consisting of normal accruals) considered necessary
for a fair presentation have been included. Operating results for the three and
nine month periods ended September 30, 2003 are not necessarily indicative of
the results that may be expected for the full fiscal year ending December 31,
2003. For further information, refer to the financial statements and footnotes
included on Form 10-KSB for the year ended December 31, 2002. See note 7 related
to the subsidiary that was moved into Chapter 7.

3. RECENT ACCOUNTING PRONOUNCEMENTS

As permitted under SFAS No. 148, "Accounting for Stock-Based
Compensation--Transition and Disclosure", which amended SFAS No. 123 ("SFAS
123"), "Accounting for Stock-Based Compensation", the Company has elected to
continue to follow the intrinsic value method in accounting for its stock-based
employee compensation arrangements as defined by Accounting Principles Board
Opinion ("APB") No. 25, "Accounting for Stock Issued to Employees", and related
interpretations including "Financial Accounting Standards Board Interpretation
No. 44, Accounting for Certain Transactions Involving Stock Compensation", an
interpretation of APB No. 25. No stock-based employee compensation cost is
reflected in net income, as all options granted under those plans had an
exercise price equal to the market value of the underlying common stock on the
date of grant. The following table illustrates the effect on net (loss) income
and earnings per share if the Company had applied the fair value recognition
provisions of SFAS 123 to stock-based employee compensation:

                                       7
<PAGE>
                                                 For the nine months ended
                                                       September 30,
                                                    2003           2002
                                                 ----------      ---------

         Net (loss) income as reported ........  $(917,356)      $113,637

         Less: stock-based employee
         compensation expense determined
         Under fair value-based methods
         for all awards .......................  $       -       $(37,350)
                                                 ---------       --------

         Pro forma (loss) income ..............  $(917,356)      $ 76,287
                                                 =========       ========
         Pro forma (loss) income per share
         - Basic and diluted                     $   (0.04)      $   0.00
                                                 =========       ========

         Pro forma Information
         ---------------------

         Pro forma information regarding net (loss) income is required by SFAS
         148, and has been determined as if the Company had accounted for its
         employee stock options under the fair value method of SFAS 123. The
         fair value for the 2002 options was estimated at the date of grant
         using a Black-Scholes option-pricing model to be $0.36 per share with
         the following weighted-average assumptions for the fifty-two weeks
         ended December 31, 2002:

                  Assumptions
                  -----------

                  Risk-free rate ...............................  1.81%
                  Dividend yield ...............................     0%
                  Volatility factor of the expected market
                  price of the Company's Common Stock ..........   298%
                  Average life ................................. 10 years

No options were granted during the nine month period ended September 30, 2003
and no amortization is applicable in the same period therefore there is no pro
forma expense presented in this period.

The Black-Scholes option valuation model was developed for use in estimating the
fair value of traded options, which have no vesting restrictions and are fully
transferable. In addition, option valuation models require the input of highly
subjective assumptions including the expected stock price volatility. The
Company's employee stock options have characteristics significantly different
from those of traded options, and changes in the subjective input assumptions
can materially affect the fair value estimate.

In April 2003, the FASB issued SFAS No. 149, "Amendment of Statement 133 on
Derivative Instruments and Hedging Activities." The statement amends and
clarifies financial accounting and reporting for derivative instruments,
including certain derivative instruments embedded in other contracts and for
hedging activities under SFAS 133. The adoption of SFAS No. 149, which became
effective for contracts entered into or modified after June 30, 2003, did not
have any impact on the Company's financial position, results of operations or
cash flows.

                                       8
<PAGE>

On May 15, 2003, the FASB issued SFAS 150, "Accounting for Certain Financial
Instruments with Characteristics of Both Liabilities and Equity". SFAS 150
establishes standards for how an issuer classifies and measures certain
financial instruments with characteristics of both liabilities and equity. It
requires that an issuer classify a financial instrument that is within its scope
as a liability (or an asset in some circumstances). SFAS 150 affects the
issuer's accounting for three types of freestanding financial instruments.

      o  Mandatorily redeemable shares, which the issuing company is obligated
         to buy back in exchange for cash or other assets.

      o  Instruments that do or may require the issuer to buy back some of its
         shares in exchange for cash or other assets; includes put options and
         forward purchase contracts.

      o  Obligations that can be settled with shares, the monetary value of
         which is fixed, tied solely or predominantly to a variable such as a
         market index, or varies inversely with the value of the issuers'
         shares.

SFAS 150 does not apply to features embedded in a financial instrument that is
not a derivative in its entirety. Most of the guidance in SFAS 150 is effective
for all financial instruments entered into or modified after May 31, 2003, and
otherwise is effective at the beginning of the first interim period beginning
after June 15, 2003. The adoption of SFAS 150 did not have any impact on the
Company's consolidated results of operations, financial position or cash flows.

In January 2003, FASB issued FASB Interpretation No. 46, "Consolidation of
Variable Interest Entities" ("FIN 46"), an interpretation of Accounting Research
Bulletin No. 51. FIN 46 expands upon and strengthens existing accounting
guidance that addresses when a company should include in its financial
statements the assets, liabilities and activities of another entity. A variable
interest entity is any legal structure used for business purposes that either
does not have equity investors with voting rights or has equity investors that
do not provide sufficient financial resources for the entity to support its
activities. FIN 46 requires a variable interest entity to be consolidated by a
company if that company is subject to a majority of the risk of loss from the
variable interest entity's activities or entitled to receive a majority of the
entity's residual returns or both. The consolidation requirements of FIN 46
apply immediately to variable interest entities created after January 31, 2003.
The consolidation requirements apply to older entities in the first fiscal year
or interim period beginning after June 15, 2003. However, on October 8, 2003,
FASB deferred the latest date by which all public entities must apply FIN 46 to
the first reporting period ended after December 15, 2003. The effect of the
adoption of this new accounting pronouncement on the Company's financial
statements has not been significant.

4. COMMITMENTS AND CONTINGENCIES

Payroll tax liability

The Company's former subsidiary, Renewable Resources, Inc. ("Renewable"), was
delinquent at certain times in 1998 in the payment of its payroll taxes. This
resulted in an aggregate amount payable as of December 31, 1999 of approximately
$200,000. Renewable is pursuing a repayment schedule with the Internal Revenue
Service. All payments from the Company to Renewable have been designated to be
applied against such payroll obligations. The Company may be obligated for any
unpaid payroll taxes.

                                       9
<PAGE>

As a result of an acquisition, the Company was delinquent with respect to
Federal and State payroll taxes prior to 1999, which amounted to approximately
$210,000, including penalties and interest. During March 2000, the Company
settled all past due liabilities and received tax clearance from the Internal
Revenue Service. Although the Company satisfied all judgments with the State of
New Jersey, they have yet to receive tax clearance from state authorities.
During July 2000, the Company received a notice of adjustment from the Internal
Revenue Service for an additional $37,923 of past due Federal Unemployment
Taxes. The Company is seeking an abatement of this amount based on similar
circumstances that were presented with the tax liability that was settled in
March 2000. This liability related to the Company's main operating subsidiary
Reink USA, which filed for Chapter 7 on July 10, 2003 - see note 7 to these
financial statements.

Litigation

Former Officers

On December 31, 2002, the CEO and VP of Finance of the Company resigned. In
addition, on the same date, one of the production chemists from the Company's
R&D facility also resigned. Prior to resigning, these three officers dismissed
all employees of Reink USA, and left the Company with no employees. The Company
has commenced legal proceedings against the three former officers of the Company
for actions it believes to be in violation of non-competition and
confidentiality clauses within their employment contracts.

Bankruptcy Proceedings

In January 2003 the three largest creditors of Reink USA filed a petition to
move the subsidiary into Chapter 7 under the US Federal Bankruptcy Act. The
Company believes that some of the creditors involved with the petition are
supplying the new business, which competes directly with the Company, founded by
the Company's former CEO and VP of Finance. Reink USA filed a motion to have the
petition dismissed since the third creditor withdrew from the filing and also
since the counsel for the petitioners withdrew. Subsequently, the remaining two
creditors provided a new third creditor and amended the filing. This new third
creditor also subsequently withdrew and the two remaining creditors found two
other creditors and filed an amendment. During March 2003, the subsidiary's
motion to convert to a voluntary chapter 11 was accepted by the District of New
Jersey, Federal Bankruptcy Court. On July 10, 2003, Reink USA was moved from a
Chapter 11 into Chapter 7 and a Bankruptcy Trustee was appointed to administer
the estate. See note 6.

Environmental Protection Agency Administration Action

Upon acquiring Renewable Resources, the Company assumed the defense of an
administrative complaint that the United States Environmental Protection Agency
("USEPA") had filed against Renewable Resources in October 1999, alleging that
the disposal of certain ink products into a septic system was a violation of the
Clean Water Act. The Company and USEPA are currently engaged in negotiations
regarding the actions. A reserve of $8,000 has been accrued based upon such
negotiations; however, the ultimate resolution of this matter cannot be
determined at this time. This liability related to the Company's main operating
subsidiary Reink USA which filed for Chapter 7 on July 10, 2003. See note 7.

                                       10
<PAGE>

5. NOTES PAYABLE AND DUE TO FINANCING COMPANY

During the nine months ended September 30, 2003 the Company issued promissory
notes bearing interest at 12% for aggregate proceeds of $ 170,000. These notes
are convertible into common shares of the Company at $0.05/share at the note
holders' option and have no specified repayment terms.

During April 2002, the Company borrowed an aggregate of $185,000 of bridge
financing, which has not been repaid when due. Consequently, the Company is
accruing a default rate of interest of twenty-five percent (25%) and thirty
percent (30%) on these loans.

The Company's lending facility was with an asset-based lender providing a
$1,000,000 facility based on 80% of accounts receivable. The facility allowed
for an up front fee of 1.25% of the accounts receivable financed and interest at
prime plus 4% while the account remains outstanding. The facility was secured by
a first lien on all assets of the Company, and was for a term of one (1) year
with one (1) year renewal periods. During the first quarter of 2003, the Company
terminated this facility and has no further obligations under the agreement.

6. MORTGAGE PAYABLE

In connection with the purchase of Brittany, the Company, through a wholly owned
Limited Liability Company, assumed a mortgage bearing interest at a rate of 14%
per annum. The mortgage required monthly payments of interest only of $7,400
until December 31, 2001 when a balloon principal payment of $600,000 was due.
The mortgagor extended the mortgage until June 30, 2002 in return for payments
of $7,400 per month from January to March, 2002 and $8,000 per month from April
to June, 2002. During July 1, 2002 to December 31, 2002 no payments were made on
the mortgage. At December 31, 2002, the Company wrote down the land and building
related to its discontinued operation in New Jersey to $600,000, which equaled
the mortgage outstanding on the property. In February 2003, the Company vacated
the premises, and returned control to the mortgage holder in anticipation of
completing a transfer of the deed in lieu of foreclosure. On June 23, 2003 the
deed was transferred to the mortgage holder and the land and building, and the
corresponding mortgage of $600,000, have been removed.

                                       11
<PAGE>

7. DISPOSAL OF SUBSIDIARY

As discussed in Note 1, on July 10, 2003 Reink USA was moved from Chapter 11
"Reorganization" into Chapter 7 "Liquidation" and a Bankruptcy Trustee was
appointed to administer and liquidate the estate. Since control of Reink USA was
lost on July 10, 2003, the Company has reported Reink USA as discontinued
operations. Assets and liabilities will be shown on the balance sheet as
discontinued operations until the bankruptcy is adjudicated by the Bankruptcy
court. The breakdown of assets and liabilities of Reink USA are as follows:

                                      September 30, 2003

         Cash ........................    $   21,511
         Accounts Receivable .........        36,330
         Inventories .................       251,036
         Fixed Assets ................        61,939
                                          ----------
                                          $  370,816
                                          ==========

         Accounts Payable ............     1,806,242
         Accrued Expenses ............       319,099
                                          ----------
                                          $2,125,341
                                          ==========

The following table represents the results of the discontinued operations of
Reink USA:
<TABLE>
<CAPTION>
                                                 Three Months Ended       Nine Months Ended
                                                    September 30            September 30
                                               ----------------------  -----------------------
                                                  2003        2002        2003         2002
                                                  ----        ----        ----         ----
<S>                                            <C>         <C>         <C>          <C>
REVENUES ....................................  $        0  $1,915,212  $  183,097   $6,708,522

COST OF GOODS SOLD ..........................           0   1,099,655     117,251    4,117,310
                                               ----------  ----------  ----------   ----------
GROSS PROFIT ................................           0     815,557      65,846    2,591,212
                                               ----------  ----------  ----------   ----------

OPERATING EXPENSES
  Selling, general and administrative .......           0     571,835     266,183    1,852,173
  Research and development ..................           -           0           -            -
  Depreciation and amortization .............           0      43,342       6,780      156,736
                                               ----------  ----------  ----------   ----------
TOTAL OPERATING EXPENSES ....................           0     615,177     272,963    2,008,909
                                               ----------  ----------  ----------   ----------

(LOSS) FROM OPERATIONS ......................           0     200,380    (207,117)     582,303

INTEREST EXPENSE ............................           0      45,173       3,571      119,624
                                               ----------  ----------  ----------   ----------

NET INCOME (LOSS) ...........................           0     155,207    (210,688)     462,679
                                               ==========  ==========  ==========   ==========
</TABLE>
                                       12
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS - PLAN OF OPERATION

LIQUIDITY AND CAPITAL RESOURCES

The Company's sales and operations have been adversely impacted and ceased due
to the departure of certain senior officers and employees from the Company, and
Reink USA moving from Chapter 11 "Reorganization" to Chapter 7 "Liquidation",
the details of which are described elsewhere in this document.

As of September 30, 2003, the Company had a working capital deficiency of
approximately $3,216,847 of which approximately $ 1,745,525 relates to Reink
USA. If the Company expects to restart operations it will require capital
infusions of a minimum of $1,500,000 necessary to fund the purchase of inventory
and to meet the Company's working capital needs. During April 2002, the Company
borrowed an aggregate of $185,000 of bridge financing, which has not been repaid
when due. Consequently, the Company is accruing a default rate of interest of
twenty-five percent (25%) and thirty percent (30%) on these loans. During the
nine months ended September 30, 2003, the Company raised an additional $170,000
through the issuance of promissory notes bearing interest at 12%, payable
semi-annually and convertible into common stock at $0.05/share.

On December 31, 2002, the CEO, VP of Finance and one of the production chemists
from the Company's R&D facility resigned (the "Former Officers"). Prior to
resigning, the Former officers dismissed all employees of Reink USA. The Company
has commenced legal proceedings against the Former Officers of the Company for
actions it believes to be in violation of non-competition and confidentiality
clauses within their employment contracts.

As a result of the departure of the Former Officers, the remaining management
dropped the impact ribbon business product line and also made the decision to
outsource the remanufactured toner business in 2003. In January 2003, the
Company closed down its manufacturing facility in Pennsauken, New Jersey and
moved all inventory and equipment to other locations. At December 31, 2002, the
Company wrote down inventories related to the impact ribbons and toner product
lines to their estimated fair values. The Company had an impairment charge on
certain fixed assets as a result of closing the manufacturing facility. In
addition, the Company had an impairment charge on its goodwill relating to the
changes to the impact ribbon and toner product lines.

In January 2003, the three largest creditors of Reink USA filed a petition to
force the subsidiary into Chapter 7 "Liquidation" under the US Federal
Bankruptcy Code. The Company believes that some of the creditors involved with
the petition are supplying the new business, which competes directly with the
Company, founded by the Former Officers. Reink USA filed a motion to have the
petition thrown out since the third creditor withdrew from the filing and also
since the counsel for the petitioners withdrew. Subsequently the remaining two
creditors provided a new third creditor and amended the filing. This new third
creditor also subsequently withdrew and the two remaining creditors found two
other creditors and filed an amendment. During March 2003, the subsidiary's
motion to convert to a voluntary Chapter 11 "Reorganization" was accepted by the
District of New Jersey, Federal Bankruptcy Court. On July 10, 2003, Reink USA
was moved from Chapter 11 "Reorganization" into Chapter 7 "Liquidation" and a
Bankruptcy Trustee was appointed to administer the estate. See note 6 in the
financial statements.

As a result of the Chapter 7 "Liquidation" filing of Reink USA, the Company has
temporarily suspended operations until new financing has been obtained. Any
future operations are dependent upon the Company's ability to obtain additional
debt or equity financing, and its ability to restart operations and generate

                                       13
<PAGE>

revenues sufficient to fund its operations. The ability to restart operations
going forward will also be contingent on whether the Company can successfully
convert all or a portion of the notes payable and other liabilities into equity
through negotiations with each note holder or creditor. There can be no
assurances that the Company will be successful in it's attempts to renegotiate
any liabilities, generate positive cash flows or raise sufficient capital
essential to its survival. To the extent that the Company is unable to generate
or raise the necessary operating capital and renegotiate it's liabilities, the
Company will be forced to cease operations permanently. Additionally, even if
the Company does raise operating capital and renegotiates it's liabilities,
there can be no assurances that the net proceeds, and changes, will be
sufficient enough to enable it to develop its business to a level where it will
generate profits and positive cash flows. These matters raise substantial doubt
about the Company's ability to continue as a going concern.

The Company has no present commitment that is likely to result in its liquidity
increasing or decreasing in any material way. In addition, except as noted
above, the Company knows of no trend, additional demand, event or uncertainty
that will result in, or that are reasonably likely to result in, the Company
liquidity increasing or decreasing in any material way. The Company has no
material commitments for capital expenditures. The Company knows of no material
trends, favorable or unfavorable, in the Registrant's capital resources. All of
these factors raise substantial doubt as to whether the Company can continue as
a going concern. The Company has ceased operations while attempting to raise the
required capital and financing to recommence operations.

FORWARD LOOKING STATEMENTS

This Form 10-QSB and other reports filed by the Company from time to time with
the Securities and Exchange Commission (collectively the "Filings") contain or
may contain forward looking statements and information that are based upon
beliefs of, and information currently available to, the Company's management as
well as estimates and assumptions made by the Company's management.

When used in the filings the words "anticipate", "believe", "estimate",
"expect", "future", "intend", "plan" and similar expressions as they relate to
the Company or the Company's management identifying forward looking statements.
Such statements reflect the current view of the Company with respect to future
events and are subject to risks, uncertainties and assumptions relating to the
Company's operations and results of operations and any businesses that may be
acquired by the Company. Should one or more of these risks or uncertainties
materialize, or should the underlying assumptions prove incorrect, actual
results may differ significantly from those anticipated, believed, estimated,
intended or planned.

ITEM 3. CONTROLS AND PROCEDURES

The Company's Chief Executive Officer and Chief Financial Officer has conducted
an evaluation of the Company's disclosure controls and procedures as of the
filing of this quarterly report. Based on his evaluation, the Company's Chief
Executive Officer and Chief Financial Officer has concluded that the Company's
disclosure controls and procedures are effective to ensure that information
required to be disclosed by the Company in reports that it files or submits
under the Securities Exchange Act of 1934 is recorded, processed, summarized and
reported within the time periods specified in the applicable Securities and
Exchange Commission rules and forms.

Subsequent to the evaluation, there were no significant changes in the Company's
internal controls or in other factors that could significantly affect those
controls, nor were any corrective actions required with regard to significant
deficiencies and material weaknesses.

                                       14
<PAGE>
                            PART II OTHER INFORMATION

Item 1.  Legal Proceedings


         Pending legal proceedings are more fully described in footnote 4 to the
         condensed consolidated financial statements and the Company's Form
         10-KSB for the period ended December 31, 2002.

Item 2.  Changes in Securities

         During January through June 2003 the Company issued promissory notes
         bearing interest at 12% for proceeds of $170,000. These notes are
         convertible into common shares of the Company at $0.05/share at the
         note-holders option.

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

         (a) Exhibits

                  31.1     Certification of Chief Executive Officer Pursuant to
                           Section 302 of the Sarbanes-Oxley Act of 2002

                  31.2     Certification of Chief Financial Officer Pursuant to
                           Section 302 of the Sarbanes-Oxley Act of 2002

                  32.1     Certification of Chief Executive Officer Pursuant to
                           Section 906 of the Sarbanes-Oxley Act of 2002

                  32.2     Certification of Chief Financial Officer Pursuant to
                           Section 906 of the Sarbanes-Oxley Act of 2002

         (b) Reports on Form 8-K

                  Reported May 7, 2003 for change in accountants Reported July
                  16, 2003 for Chapter 7 filing

                                       15
<PAGE>
                                   SIGNATURES

         In accordance with the requirements of the Securities Exchange Act of
1934 the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.


                                        REINK CORP.
                                        (Registrant)

Date December 16, 2003                  By: /s/ Wayne Maddever
                                            ------------------
                                            Wayne Maddever
                                            President and
                                            Chief Executive Officer

Date December 16, 2003                  By: /s/ William M. Smith
                                            --------------------
                                            William Smith
                                            Chief Financial Officer




                                       16