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 March 31, 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.)


               5130 Creekbank Road, Mississauga, Ontario, L4W 2G2
               --------------------------------------------------
                    (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 June 15, 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 March 31, 2003


                                     Index                                 Page
                                                                          Number
                                                                          ------

PART I    CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Item 1    Condensed Balance Sheet at March 31, 2003 ...........................3

          Condensed Statements of Operations for the three month
               periods ended March 31, 2003 and March 31, 2002 ................4

          Condensed Statements of Cash Flows for the three month
               periods ended March 31, 2003 and March 31, 2002 ................5

          Notes to Condensed Consolidated Financial Statements ............6 - 9

Item 2    Management's Discussion and Analysis or Plan of Operation .....10 - 11


PART II   OTHER INFORMATION

Item 1    Legal Proceedings ..................................................12

Item 2    Changes in Securities ..............................................12

Item 3    Defaults Upon Senior Securities ....................................12

Item 4    Submission of Matters to a Vote of Security Holders ................12

Item 5    Other Information ..................................................12

Item 6    Exhibits and Reports on Form 8-K ...................................12


SIGNATURES ...................................................................13

CERTIFICATIONS ..........................................................14 - 15


                                        2
<PAGE>
                           REINK CORP AND SUBSIDIARIES

                      CONDENSED CONSOLIDATED BALANCE SHEET
                                 MARCH 31, 2003
                                   (unaudited)

                                     ASSETS

CURRENT ASSETS
  Cash and Cash Equivalents .....................................   $    54,394
  Accounts Receivable (less allowance for
     doubtful accounts of $100,000) .............................        98,622
  Inventories ...................................................       313,828
  Building held for resale ......................................       600,000
                                                                    -----------

          TOTAL CURRENT ASSETS ..................................     1,066,844

PROPERTY, PLANT AND EQUIPMENT, (net of accumulated
  depreciation of $ 258,936) ....................................        65,329

PATENTS, net of accumulated amortization of $27,000 .............        93,000

Other Assets ....................................................         6,630
                                                                    -----------

                                                                    $ 1,231,803
                                                                    ===========

                    LIABILITIES AND STOCKHOLDERS' DEFICIENCY

CURRENT LIABILITIES
  Accounts Payable ..............................................   $ 1,710,465
  Accrued Expenses (including $240,000 to a related party) ......       561,497
  Notes Payable - Related Party (including
     accrued interest of $79,000) ...............................       499,460
  Notes Payable (including accrued interest of $30,000) .........       379,903
  Mortgage Payable ..............................................       600,000
                                                                    -----------

          TOTAL CURRENT LIABILITIES .............................     3,751,325
                                                                    -----------

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 ...........................................    (8,827,022)
                                                                    -----------

          TOTAL STOCKHOLDERS' DEFICIENCY ........................    (2,519,522)
                                                                    -----------

                                                                    $ 1,231,803
                                                                    ===========

            See notes to condensed consolidated financial statements

                                       3
<PAGE>
                           REINK CORP AND SUBSIDIARIES

                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (unaudited)


                                                          THREE MONTHS ENDED
                                                               MARCH 31,
                                                      --------------------------
                                                          2003           2002
                                                          ----           ----

REVENUES ............................................ $     65,413   $ 2,139,604

COST OF GOODS SOLD ..................................       29,594     1,397,990
                                                      ------------   -----------
     GROSS PROFIT ...................................       35,819       741,614
                                                      ------------   -----------

OPERATING EXPENSES
     Selling, general and administrative ............      221,597       596,466
     Research and development .......................            -        23,783
     Depreciation and amortization ..................        7,390        62,250
                                                      ------------   -----------

          TOTAL OPERATING EXPENSES ..................      228,987       682,499
                                                      ------------   -----------

INCOME (LOSS) FROM OPERATIONS .......................     (193,168)       59,115

INTEREST EXPENSE ....................................       33,493        46,213
                                                      ------------   -----------

          NET INCOME (LOSS) ......................... $   (226,661)  $    12,902
                                                      ============   ===========

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


WEIGHTED AVERAGE NUMBER OF SHARES USED IN COMPUTATION   21,652,850    20,377,850
                                                      ============   ===========

            See notes to condensed consolidated financial statements

                                       4
<PAGE>
                               REINK CORP. AND SUBSIDIARIES

                     CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                       (unaudited)

                                                            Three months ended
                                                                 March 31,
                                                          ----------------------
                                                             2003        2002
                                                             ----        ----

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net (loss) income ....................................  $(226,661)  $  12,902
                                                          ---------   ---------

  Adjustments to reconcile net (loss) income
   to net cash used in operating activities:
     Depreciation and amortization .....................      7,390      62,250
     Accrued interest on notes payable .................     15,965           -
     Changes in operating assets and liabilities:
        Accounts receivable ............................    147,977        (634)
        Prepaid expenses and other current assets ......     (5,000)
        Inventories ....................................     29,595    (133,815)
        Accrued expenses ...............................     58,552           -
        Accounts payable and accrued expenses ..........    (52,818)     53,127
                                                          ---------   ---------

        Total Adjustments ..............................    206,661     (24,072)
                                                          ---------   ---------

NET CASH USED IN OPERATING ACTIVITIES ..................    (20,000)    (11,170)
                                                          ---------   ---------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Proceeds on sale of fixed assets .....................     22,000           -
  Purchase of fixed assets .............................       (623)    (14,940)
                                                          ---------   ---------

     NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES     21,377     (14,940)
                                                          ---------   ---------

CASH FLOWS FROM FINANCING ACTIVITIES
  Repayment of borrowing to financing company ..........   (118,652)    (36,519)
  Proceeds from sales of common stock and warrants .....          -      80,000
  Proceeds from issuance of note payable ...............    165,000           -

                                                          ---------   ---------

     NET CASH PROVIDED BY FINANCING ACTIVITIES .........     46,348      43,481
                                                          ---------   ---------

NET INCREASE  IN CASH ..................................     47,725      17,371

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

CASH AT END OF PERIOD ..................................  $  54,394   $ 128,997
                                                          =========   =========

            See notes to condensed consolidated financial statements

                                       5
<PAGE>
                          REINK CORP. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 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"), manufactures bulk ink,
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 are sold to
both wholesale distributors and retail office supply stores.

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. The Company has also applied for an injunction against a business,
which the Company believes, is being operated by the Former Officers and
competes directly with the Company.

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 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. Reink is controlling the proceedings and Reink USA is
preparing a plan of reorganization to submit to the court and the creditors.
Substantially all of the assets except for the real estate held for sale and
liabilities except for real estate mortgage of $600,000, are assets and
liabilities, which are part of the Chapter 11, filing.

The Company has incurred recurring losses and has a working capital deficiency,
at March 31, 2003, of approximately $2,700,000. The Company expects that the
growth and expansion of operations 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 three months ended March 31, 2003
the Company raised an additional $165,000 through the issuance of promissory
notes bearing interest at 12%, payable semi-annually and convertible into common
stock at $0.05/share.

The recovery of assets and continuation of future operations are dependent upon
the Company's ability to execute its plan of reorganization, to obtain
additional debt or equity financing, and its ability to generate revenues
sufficient to fund its operations. There can be no assurances that the Company's
plan of reorganization will be accepted and 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 further
curtail or cease operations. Additionally, even if the Company does raise
operating capital, there can be no assurances that the net proceeds will be

                                       6
<PAGE>

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
months ended March 31, 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.

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:

                                                           March 31,
                                                        2003       2002
                                                        ----       ----

         Net (loss) income as reported .............  (226,661)   12,902

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

         Pro forma loss ............................  (226,661)  (24,448)
                                                      ========   =======

         Pro forma loss per share- Basic and diluted     (0.01)    (0.00)
                                                      ========   =======

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

         Pro forma information regarding net 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:

                                       7
<PAGE>

                  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 three month period ended March 31,2003 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, 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 FAS 133. FAS 149 is effective for contracts entered
into or modified after June 30, 2003 except for the provisions that were cleared
by the FASB in prior pronouncements. The Company is currently assessing the
financial impact of adopting FAS 149 in fiscal year 2003.

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.

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

     *   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.

     *   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 Company has not yet completed its analysis of SFAS 150;
however, it believes that it is currently substantially in compliance with the
requirements of SFAS 150.

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.

                                       8
<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 judgements 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.

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. The Company has also
applied for an injunction against a business which the Company believes is being
operated by the former officers and competes directly with the Company.

BANKRUPTCY PROCEEDINGS
In January, 2003 the three largest creditors of Reink USA filed a petition to
force 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. Reink Corp. is controlling the proceedings and
Reink USA is preparing a plan of reorganization to submit to the court and the
creditors. There can be no assurances that the plan will be successful.

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.

5. NOTES PAYABLE AND DUE TO FINANCING COMPANY

During the three months ended March 31, 2003 the Company issued promissory notes
bearing interest at 12% for aggregate proceeds of $ 165,000. 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.

The Company has financed its cash requirements primarily through operations,
bank borrowings, and sales of its securities to accredited investors. The
Company's lending facility is with an asset-based lender providing a $1,000,000
facility based on 80% of accounts receivable. The facility allows 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 is secured by a
first lien on all assets of the Company, and is for a term of one (1) year with
one (1) year renewal periods. During the three months ended March 31, 2003 the
Company terminated this facility and had met all obligations under the
agreement.

                                       9
<PAGE>

ITEM 2   MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

THREE MONTHS ENDED MARCH 31, 2003 AS COMPARED TO THREE MONTHS ENDED
MARCH 31, 2002

REVENUES - Total revenues decreased to $65,413 for the three months ended March
31, 2003, compared to $2,139,604 for the same period last year. As discussed
below, the decrease in revenues was due to circumstances related to the
departure of the Company's three senior officers ("Former Officers"), the
subsequent filing of Chapter 11 Bankruptcy protection by the Company's main
operating subsidiary and the related effects of such events on the Company's
operations. The Company believes the Former Officers have set-up a competing
business which has seriously impacted sales during the three months ended March
31, 2003. See notes below in the "Liquidity and Capital Resources" section

GROSS PROFIT - Gross profit decreased to $35,819 for the three months ended
March 31, 2003, compared to $741,614 for the same period last year. In addition,
the gross profit margin increased over the same period from 35% to 55%. The drop
in gross margin was due to the substantial decrease in sales while the increased
margin was due to the product mix being mainly comprised of higher margin bulk
ink products. At the end of 2002, the Company made the decision to drop the
impact ribbon product line which had much lower overall margins therefore there
were no impact ribbon sales in the three months ended March 31, 2003.

OPERATING EXPENSES - Operating expenses decreased to $228,987 for the three
months ended March 31, 2003, compared to $682,499 for the same period last year.
Selling, general and administrative expenses were 339% of sales for the three
months ended March 31, 2003, compared to 28% during the same period last year.
The increase in percentage resulted from the substantial decrease in sales for
the current period, combined with increased legal fees due to the legal actions
taken during the quarter, and the filing for protection under Chapter 11 by the
main operating subsidiary Reink Imaging USA, Ltd. ("Reink USA")

NET INCOME (LOSS) - As a result of the above, the Company recorded a net loss of
$(226,661) for the three months ended March 31, 2003 compared a net income of
$12,902 for the same period last year.

LIQUIDITY AND CAPITAL RESOURCES

The Company has financed its cash requirements primarily through operations,
bank borrowings, and sales of its securities to accredited investors. The
Company's lending facility is with an asset-based lender providing a $1,000,000
facility based on 80% of accounts receivable. The facility allows 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 is secured by a
first lien on all assets of the Company, and is for a term of one (1) year with
one (1) year renewal periods. During the three months ended March 31, 2003 the
Company terminated this facility and had met all obligations under the
agreement.

The Company's sales and operations have been adversely impacted by the departure
of certain senior officers and employees from the Company, the details of which
are described elsewhere in this document.

As of March 31, 2002, the Company had a working capital deficiency of
approximately $2,700,000. The Company has no long term debt. The Company expects
that the growth and expansion of operations 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 paying a default rate of interest of twenty-five
percent (25%) and thirty percent (30%) on these loans. During the three months
ended March 31, 2003, the Company raised an additional $165,000 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. The Company has also applied for an
injunction against a business which the Company believes is being operated by
the Former Officers and competes directly with the Company.

                                       10
<PAGE>

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 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 was accepted by the District of New Jersey, Federal
Bankruptcy Court. Reink is controlling the proceedings and Reink USA is
preparing a plan of reorganization to submit to the court and the creditors.

There can be no assurances that the Company's plan of reorganization will be
accepted and 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 further curtail or cease
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.

Except as provided above, 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 substantially reduced its overhead and is in the process of
negotiating outsourcing of production until the point in time when the economies
of scale allow for the production in house. The core competency of ink
production remains in the Company and forms the foundation for the Company's
strategy going forward. The Company has recently commenced filling orders for
some prior customers as well as new customers.

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.

                                       11
<PAGE>
                                  REINK CORP.

                           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 April 2003 the Company issued promissory notes
          bearing interest at 12% for proceeds of $175,000. 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

              None

          (b) Reports on Form 8-K

              None

                                       12
<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 June 19, 2003                      By: /s/ Wayne Maddever
                                            ------------------
                                            Wayne Maddever
                                            President and
                                            Chief Executive Officer

Date June 19, 2003                      By: /s/ William M. Smith
                                            ---------------------
                                            William M. Smith
                                            Chief Financial Officer



                                       13
<PAGE>
                                  CERTIFICATION

I, Wayne Maddever, certify that:

1.  I have reviewed this quarterly report on Form 10-QSB of Reink Corp.;

2.  Based on my knowledge, this quarterly report does not contain any untrue
    statement of material fact or omit to state material fact necessary to make
    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 of, 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 the 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 the 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 subsequent to the date of our most
    recent evaluation, including any corrective actions with regard to
    significant deficiencies and material weaknesses.

Date:  June 19, 2003

By: /s/ Wayne Maddever
----------------------
Wayne Maddever
President and Chief Executive Officer

                                       14
<PAGE>
                                  CERTIFICATION

I, William Smith, certify that:

1.  I have reviewed this quarterly report on Form 10-QSB of Reink Corp.;

2.  Based on my knowledge, this quarterly report does not contain any untrue
    statement of material fact or omit to state material fact necessary to make
    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 of, 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 the 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 the 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 subsequent to the date of our most
    recent evaluation, including any corrective actions with regard to
    significant deficiencies and material weaknesses.

Date:  June 19, 2003

By: /s/ William Smith
---------------------
William Smith
Chief Financial Officer

                                       15