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 June 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.)


               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 September 17, 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 June 30, 2003


                                      Index
                                                                           Page
                                                                          Number
                                                                          ------

PART I   CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

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

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

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

         Notes to Condensed Consolidated Financial Statements ............  6-11

Item 2.  Management's Discussion and Analysis or Plan of Operation ....... 12-14


PART II  OTHER INFORMATION

Item 1.  Legal Proceedings ...............................................    14

Item 2.  Changes in Securities ...........................................    14

Item 3.  Defaults Upon Senior Securities .................................    14

Item 4.  Submission of Matters to a Vote of Security Holders .............    14

Item 5.  Other Information ...............................................    14

Item 6.  Exhibits and Reports on Form 8-K ................................    14


                                        2
<PAGE>
                           REINK CORP AND SUBSIDIARIES

                      CONDENSED CONSOLIDATED BALANCE SHEET
                                  JUNE 30, 2003
                                    Unaudited

                                     ASSETS

CURRENT ASSETS
  Cash .........................................................    $    35,958
  Accounts Receivable (less allowance for doubtful
    accounts of $100,000) ......................................         36,330
  Inventories ..................................................        251,036
                                                                    -----------

       TOTAL CURRENT ASSETS ....................................        323,324

PROPERTY, PLANT AND EQUIPMENT,net ..............................         61,939

PATENTS,net of accumulated amortization of $31,000 .............         89,000

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

                                                                    $   480,893
                                                                    ===========

                    LIABILITIES AND STOCKHOLDERS' DEFICIENCY

CURRENT LIABILITIES
  Accounts Payable .............................................    $ 1,890,451
  Accrued Expenses (including $239,900 due
    to a related party) ........................................        567,499
  Notes Payable - Related Party (including
    accrued interest of $81,800) ...............................        502,300
  Notes Payable (including accrued interest of $43,628) ........        398,628
                                                                    -----------
       TOTAL CURRENT LIABILITIES ...............................      3,358,878
                                                                    -----------

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 ..........................................     (9,185,485)
                                                                    -----------
       TOTAL STOCKHOLDERS' DEFICIENCY ..........................     (2,877,985)
                                                                    -----------

                                                                    $   480,893
                                                                    ===========

            See notes to condensed consolidated financial statements

                                        3
<PAGE>
<TABLE>
                                    REINK CORP AND SUBSIDIARIES

                          CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                            (unaudited)
<CAPTION>

                                          Three Months Ended June 30,   Six Months Ended June 30,
                                          ---------------------------  ---------------------------
                                              2003           2002          2003           2002
                                          ------------   ------------  ------------   ------------
<S>                                       <C>            <C>           <C>            <C>
REVENUES ...............................  $    117,684   $  2,653,706  $    183,097   $  4,793,310

COST OF GOODS SOLD .....................        87,657      1,619,665       117,251      3,017,655
                                          ------------   ------------  ------------   ------------
     GROSS PROFIT ......................        30,027      1,034,041        65,846      1,775,655
                                          ------------   ------------  ------------   ------------

OPERATING EXPENSES

     Selling, general and administrative       342,993        794,412       564,561      1,390,878

     Research and development ..........             -         38,354             -         62,137

     Depreciation and amortization .....         7,390         59,144        14,780        121,394
                                          ------------   ------------  ------------   ------------

     TOTAL OPERATING EXPENSES ..........       350,383        891,910       579,341      1,574,409
                                          ------------   ------------  ------------   ------------


INCOME (LOSS) FROM OPERATIONS ..........      (320,356)       142,131      (513,495)       201,246

INTEREST EXPENSE .......................        38,107         62,880        71,629        109,093
                                          ------------   ------------  ------------   ------------

     NET (LOSS) INCOME .................  $   (358,463)  $     79,251  $   (585,124)  $     92,153
                                          ============   ============  ============   ============

NET (LOSS) INCOME PER SHARE,
     BASIC AND DILUTED .................  $      (0.02)  $       0.00  $      (0.03)  $       0.00
                                          ============   ============  ============   ============

WEIGHTED AVERAGE NUMBER OF

     SHARES USED IN COMPUTATION ........    21,652,850     21,652,850    21,652,850     21,012,350
                                          ============   ============  ============   ============


                     See notes to condensed consolidated financial statements

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

                          CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                            (unaudited)
<CAPTION>
                                                                        Six months ended June 30,
                                                                           2003            2002
                                                                        ---------       ---------
<S>                                                                     <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net (loss) income ..............................................      $(585,124)      $  92,153
                                                                        ---------       ---------
  Adjustments to reconcile net (loss) income
   to net cash used in operating activities:
     Depreciation and amortization ...............................         14,780         121,394
     Accrued interest on notes payable ...........................         18,680               -
     Warrants issued .............................................              -          33,221
  Changes in operating assets and liabilities:
    Accounts receivable ..........................................        210,269          55,151
    Prepaid expenses and other current assets ....................        (20,000)
    Inventories ..................................................         92,386         (92,558)
    Accrued expenses .............................................         64,552               -
    Accounts payable and accrued expenses ........................        127,170        (251,914)
                                                                        ---------       ---------

        Total Adjustments ........................................        527,837        (154,706)
                                                                        ---------       ---------

NET CASH USED IN OPERATING ACTIVITIES ............................        (57,287)        (62,553)
                                                                        ---------       ---------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Proceeds on sale of fixed assets ...............................         21,377               -
  Purchase of fixed assets .......................................              -         (26,463)
                                                                        ---------       ---------

  NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES ............         21,377         (26,463)
                                                                        ---------       ---------

CASH FLOWS FROM FINANCING ACTIVITIES
  Repayment of borrowing to financing company ....................       (118,651)       (160,815)
  Proceeds from sales of common stock and warrants ...............              -          80,000
  Proceeds from issuance of note payable .........................        183,850         185,000

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

  NET CASH PROVIDED BY FINANCING ACTIVITIES ......................         65,199         104,185
                                                                        ---------       ---------

NET INCREASE  IN CASH ............................................         29,289          15,169

CASH AT BEGINNING OF YEAR ........................................          6,669         111,627
                                                                        ---------       ---------

CASH AT END OF PERIOD ............................................      $  35,958       $ 126,796
                                                                        =========       =========

                     See notes to condensed consolidated financial statements

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

NOTE 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 Chapter 7
liquidation and as a result the Company's operations have ceased until new
financing has been completed.

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 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 Imaging was moved from Chapter 11 into
Chapter 7 and a Bankruptcy Trustee was appointed to administer the estate. See
note 6.

The Company has incurred recurring losses and has a working capital deficiency,
at June 30, 2003, of approximately $3,035,554. The Company expects that in order
to restart operations it will require capital infusions of a minimum of $500,000
necessary to fund the purchase of inventory and to meet the Company's working
capital needs. During the six months ended June 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

                                        6
<PAGE>

generate revenues sufficient to fund its operations. There can be no assurances
that the Company will be successful in it's 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.

NOTE 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
six month periods ended June 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 6 related
to the subsidiary that was moved into Chapter 7.

NOTE 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:

                                                        June 30,
                                                    2003        2002
                                                 ---------   ---------
         Net (loss) income as reported ........  $(585,124)  $  92,153
         Less: stock-based employee
         compensation expense determined
         Under fair value-based methods
         for all awards .......................          -     (37,350)
                                                 ---------   ---------
         Pro forma (loss) income ..............  $(585,124)  $  54,803
                                                 =========   =========
         Pro forma (loss) income per share
           - Basic and diluted ................  $   (0.03)  $    0.00
                                                 =========   =========

                                       7
<PAGE>

         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 six month period ended June 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. SFAS 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 SFAS 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.

                                        8
<PAGE>

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 is currently evaluating the effects of SFAS
150.

NOTE 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.

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. This liability related to the Company's main operating subsidiary
Reink USA which filed for Chapter 7 on July 10, 2003 - see note 6 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.

                                        9
<PAGE>

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.

NOTE 5.  NOTES PAYABLE AND DUE TO FINANCING COMPANY

During the six months ended June 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.

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 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.

NOTE 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 New Jersey location 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 from the books.

NOTE 7.  DISPOSAL OF SUBSIDIARY

As discussed in Note 1, on July 10, 2003 Reink USA was moved from Chapter 11
into Chapter 7 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 will report Reink USA as discontinued operations effective July 1, 2003.
Assets and liabilities of Reink USA will be shown as assets and liabilities of
discontinued operations until such assets and liabilities are adjudicated by the
Bankruptcy court.

                                       10
<PAGE>

Proforma financial information as if Reink USA were shown as discontinued
operations for all periods presentedis shown below:

<TABLE>
<CAPTION>
                                               Three Months Ended           Six Months Ended
                                                     June 30                     June 30
                                             -----------------------     -----------------------
                                                2003          2002          2003          2002
                                             ---------     ---------     ---------     ---------
<S>                                          <C>           <C>           <C>           <C>
REVENUES ................................    $       0     $       0     $       0     $       0
COST OF GOODS SOLD ......................            0             0             0             0
                                             ---------     ---------     ---------     ---------
GROSS PROFIT ............................            0             0             0             0
                                             ---------     ---------     ---------     ---------

OPERATING EXPENSES
      Selling, general and administrative      147,600        52,324       298,378       110,540
      Research and development ..........            -        38,354             -        62,137
      Depreciation and amortization .....        4,000         4,000         8,000         8,000
                                             ---------     ---------     ---------     ---------
TOTAL OPERATING EXPENSES ................      151,600        94,678       306,378       180,677
                                             ---------     ---------     ---------     ---------

(LOSS) FROM OPERATIONS ..................     (151,600)      (94,678)     (306,378)     (180,677)

INTEREST EXPENSE ........................       34,565        10,780        68,058        34,642
                                             ---------     ---------     ---------     ---------

PROFORMA NET (LOSS) .....................     (186,165)     (105,458)     (374,437)     (215,319)

DISCONTINUED OPERATIONS .................     (172,298)      184,709      (210,687)      307,472
                                             ---------     ---------     ---------     ---------

NET (LOSS) INCOME AS REPORTED ...........    $(358,463)    $  79,251     $(585,124)    $  92,153
                                             =========     =========     =========     =========

PROFORMA PER SHARE INFORMATION-
BASIC AND DILUTED

PROFORMA (LOSS) .........................    $   (0.01)    $   (0.00)    $   (0.02)    $   (0.01)
DISCONTINUED OPERATIONS .................    $   (0.01)    $    0.00     $   (0.01)    $    0.01
                                             ---------     ---------     ---------     ---------
                                             $   (0.02)    $    0.00     $   (0.03)    $    0.00
                                             =========     =========     =========     =========

                                                11
</TABLE>
<PAGE>

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

SIX MONTHS ENDED JUNE 30, 2003 AS
COMPARED TO SIX MONTHS ENDED JUNE 30, 2002

REVENUES - Total revenues decreased to $183,097 for the six months ended June
30, 2003, compared to $4,793,310 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. On July 10, 2003, the Company's main operating subsidiary was
converted from Chapter 11 to Chapter 7 and a Trustee was appointed to administer
the estate. - see note 6 to the financial statements.

The Company believes the Former Officers have set-up a competing business which
seriously impacted sales during the six months ended June 30, 2003. See notes
below in the "Liquidity and Capital Resources" section

GROSS PROFIT - Gross profit decreased to $65,846 for the six months ended June
30, 2003, compared to $1,775,655 for the same period last year. In addition, the
gross profit margin decreased over the same period from 37% to 36%. The decrease
in gross margin was due to the substantial decrease in sales related to the
aforementioned circumstances, while the small decrease in margin percentage was
due to the change in product mix during the current period.

OPERATING EXPENSES - Operating expenses decreased to $579,341 for the six months
ended June 30, 2003, compared to $1,574,409 for the same period last year.
Selling, general and administrative expenses were 308% of sales for the six
months ended June 30, 2003, compared to 29% 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 first six months of the year, and the filing for protection
under Chapter 11and subsequent move into Chapter 7 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
$585,124 for the six months ended June 30, 2003 compared a net income of $92,153
for the same period last year.

LIQUIDITY AND CAPITAL RESOURCES

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

As of June 30, 2003, the Company had a working capital deficiency of
approximately $3,035,554 of which approximately $ 1,903,248 relates to Reink
USA. The Company expects that to restart operations will require capital
infusions of a minimum of $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
six months ended June 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.

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<PAGE>

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 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. On July 10, 2003, Reink USA was moved from Chapter 11 into
Chapter 7 and a Bankruptcy Trustee was appointed to administer the estate. See
note 6 in the financial statements.

As a result of the Chapter 7 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 revenues
sufficient to fund its operations. There can be no assurances that the Company
will be successful in it's 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 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.

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.

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<PAGE>

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.

                           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

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<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 September 22, 2003                By: /s/ Wayne Maddever
                                           ------------------
                                           Wayne Maddever
                                           President and
                                           Chief Executive Officer


Date September 22, 2003                By:  /s/  William M. Smith
                                            ---------------------
                                            William Smith
                                            Chief Financial Officer



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