United States
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB
(Mark one)
   X     QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
  --     EXCHANGE  ACT OF 1934

                  For the quarterly period ended June 30, 2001
                                       or
         TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934

                 For the transition period from _____ to ______

                         Commission File Number 0-13316

                                LASER CORPORATION
        ----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

             Utah                                                  87-0395567
       ----------------------                               --------------------
      (State of Incorporation)                                (I.R.S. Employer
                                                            Identification No.)
        2417 South 3850 West
        Salt Lake City, UT                                          84120
      ---------------------                                       ---------
      (Address of principal                                       (Zip Code)
        executive office)
                                 (801) 972-1311
                -----------------------------------------------
                (Issuer's telephone number, including area code)

                                 Not Applicable
               --------------------------------------------------
              (Former name, former address and former fiscal year,
                          if changed since last report)

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

State the number of shares outstanding of each of the issuer's classes of common
stock, as of the latest practical date.

Common Stock, .05 Par Value --   1,631,357  shares as of August 10, 2001

<PAGE>

                                      INDEX

                       LASER CORPORATION AND SUBSIDIARIES


PART I.  FINANCIAL INFORMATION
------------------------------

Item 1.  Financial Statements (Unaudited)

         Consolidated Balance Sheets - June 30, 2001 and December 31, 2000.

         Consolidated Statements of Operations - Three months ended June 30,
         2001 and 2000; Six months ended June 30, 2001 and 2000.

         Consolidated Statements of Cash Flows - Six months ended June 30,
         2001 and 2000.

         Notes to Consolidated Financial Statements - June 30, 2001.

Item 2.  Management's Discussion and Analysis.



PART II. OTHER INFORMATION
--------------------------

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


SIGNATURES
----------



                                  Page 2 of 11
<PAGE>

PART I. FINANCIAL INFORMATION

Item 1.
                       LASER CORPORATION AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>


                                                        June 30,         December 31,
ASSETS                                                    2001               2000
------                                                  --------         ------------
                                                       (Unaudited)
<S>                                                   <C>              <C>
CURRENT ASSETS
  Cash and cash equivalents                           $      18,922    $       38,600
  Receivables, net                                          354,664           705,527
  Inventories                                               787,085           628,064
  Other current assets                                       26,174            40,681
                                                      -------------    --------------
        Total Current Assets                              1,186,845         1,412,872
                                                      -------------    --------------

NON-CURRENT ASSETS
  Equipment and leasehold improvements, net                 233,187           242,260
  Other assets                                               35,662            37,656
                                                      -------------    --------------

                                                      $   1,455,694    $    1,692,788
                                                      =============    ==============

LIABILITIES AND
---------------
STOCKHOLDERS' EQUITY (DEFICIT)
------------------------------

CURRENT LIABILITIES
  Accounts payable                                    $   1,048,729    $      912,101
  Accrued expenses                                          242,127           274,846
  Accrued warranty expense                                  193,500           140,000
  Current portion capital leases                             15,428            13,262
                                                      -------------    --------------

      Total Current Liabilities                           1,499,784         1,340,209
                                                      -------------    --------------

LONG-TERM DEBT                                              510,246           518,788
                                                      -------------    --------------

      Total Liabilities                               $   2,010,030    $    1,858,997
                                                      -------------    --------------

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY (DEFICIT)
  Preferred Stock, 10,000,000 shares authorized;
   no shares issued or outstanding;                               -                 -
  Common Stock, $.05 par value, 40,000,000 shares
   authorized; 1,631,357 and 1,624,859 shares
   issued, respectively                                      81,568            81,243
  Additional paid-in capital                              2,148,936         1,943,861
  Deferred Compensation                                    (136,800)                -
  Retained deficit                                       (2,648,040)       (2,191,313)
                                                      -------------    --------------

       Total Stockholders' Equity (Deficit)                (554,336)         (166,209)
                                                      -------------    --------------

                                                      $   1,455,694    $    1,692,788
                                                      =============    ==============
</TABLE>


           See accompanying notes to consolidated financial statements

                                  Page 3 of 11


<PAGE>


                       LASER CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
<TABLE>
<CAPTION>

                                          Three months ended               Six months ended
                                      -------------------------        -------------------------
                                      June 30,        June 30,         June 30,         June 30,
                                        2001            2000             2001            2000
                                      --------        --------         --------         --------
<S>                                 <C>             <C>              <C>             <C>

REVENUES:
  Net sales                         $   822,863     $    807,755     $  1,673,799    $  1,437,895
  Interest and other income                 233            2,239            1,185           3,648
                                    -----------     ------------     ------------    ------------
                                        823,096          809,994        1,674,984       1,441,543

COSTS AND EXPENSES:
  Cost of products sold                 630,953          767,762        1,366,676       1,325,142
  Selling, general and
    administrative                      372,878          285,882          599,382         485,274
  Research and development               49,442           69,272          121,742         122,837
  Royalties                               7,325           7, 098           17,625          15,348
  Interest                                9,693            1,899           26,286           3,171
                                    -----------     ------------     ------------    ------------

                                      1,070,291        1,131,913        2,131,711       1,951,772
                                    -----------     ------------     ------------    ------------

LOSS FROM OPERATIONS
  BEFORE INCOME TAXES                  (247,195)        (321,919)        (456,727)       (510,229)

INCOME TAX BENEFIT
   (EXPENSE) - CURRENT                        -                -                -               -
                                    -----------     ------------     ------------    ------------

NET LOSS                            $  (247,195)    $   (321,919)    $   (456,727)   $   (510,229)
                                    ===========     ============     ============    ============

NET LOSS PER SHARE - BASIC
  AND DILUTED                       $      (.15)    $       (.20)    $       (.28)   $       (.32)
                                    ===========     ============     ============    ============

 Average number of shares of
    Common Stock outstanding -
    basic and diluted                 1,631,000        1,622,000        1,630,000       1,609,000
                                    ===========     ============     ============    ============
</TABLE>


           See accompanying notes to consolidated financial statements



                                  Page 4 of 11
<PAGE>

                       LASER CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                     SIX MONTHS ENDED JUNE 30, 2001 AND 2000
                                   (Unaudited)
<TABLE>
<CAPTION>


                                                         2001                    2000
                                                         ----                    ----
<S>                                                  <C>                  <C>

CASH FLOWS FROM OPERATING ACTIVITIES

  Net loss                                           $   (456,727)        $    (510,229)

  Adjustments to reconcile net loss
    to net cash provided from (used in)
    operating activities:
      Depreciation and amortization                        31,964                37,969
      Provision for losses on accounts receivable           9,329                59,042
      Stock compensation expense                           45,600                39,047
  (Increase) decrease in assets:
      Receivables                                         341,534               122,175
      Inventories                                        (159,021)               34,414
      Other assets                                         16,501               (14,355)
  Increase (decrease) in liabilities:
      Trade accounts payable and
        accrued expenses                                  172,409              (354,479)
                                                     ------------         -------------
      Net Cash Provided from (Used in)
            Operating Activities                           1,589               (586,416)

CASH FLOWS FROM INVESTING ACTIVITIES:
  Purchases of property and equipment                     (22,891)                    -
                                                     ------------         -------------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Payments on Capital Leases                               (6,376)               (5,469)
  Proceeds from Notes Payable                                   -               500,000
  Proceeds from Sale of Stock                               8,000               124,039
                                                     ------------         -------------

     Net Cash Provided from Financing Activities            1,624               618,570
                                                     ------------         -------------

INCREASE (DECREASE) IN CASH
     AND CASH EQUIVALENTS                                 (19,678)               32,154

CASH AND CASH EQUIVALENTS, BEG. OF PERIOD                  38,600               113,337
                                                     ------------         -------------

CASH AND CASH EQUIVALENTS, END OF PERIOD             $     18,922         $     145,491
                                                     ============         =============
</TABLE>


           See accompanying notes to consolidated financial statements



                                    Page 5 of 11
<PAGE>

                       LASER CORPORATION AND SUBSIDIARIES

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

                                  June 30, 2001

NOTE A - 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 and  Rule 310 of
Regulation  S-B.  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
only of normal recurring accruals)  considered necessary for a fair presentation
have been  included.  Operating  results for the three months and the six months
ended June 30, 2001 are not  necessarily  indicative  of the results that may be
expected for the year ending December 31, 2001. For further  information,  refer
to the  consolidated  financial  statements  and footnotes  thereto for the year
ended  December 31, 2000 included in the Company's  Annual Report on Form 10-KSB
(file number 0-13316).

NOTE B - RECLASSIFICATIONS

         Certain 2000  financial  statement  amounts have been  reclassified  to
conform to 2001 presentation.

NOTE C - WEIGHTED AVERAGE SHARES

         Loss per common share is computed using the weighted  average number of
common shares  outstanding.  Common  equivalent  shares consist of the Company's
stock options and are considered to be  antidilutive  common stock  equivalents,
determined using the treasury stock method.

NOTE D - SUPPLEMENTAL CASH FLOW INFORMATION

         During the six month  period  ended June 30,  2001 the  Company  issued
1,998  shares of common  stock to two board  members in exchange  for $15,000 of
accrued  director's  fees.  The Company also issued  Employee  Stock Options and
recorded  $182,400  of deferred  compensation  of which  $45,600 was  recognized
during the six months ended June 30, 2001.

         Actual cash paid for interest and income taxes are as follows:

                                     Three Months               Six Months
                                     Ended June 30,           Ended June 30,
                                 2001         2000         2001         2000
                                 ----         ----         ----         ----

         Interest                943         1,899         2,078        3,171
                                ----         -----         -----        -----

         Income Taxes              -             -             -            -
                                 ---         -----         -----        -----



                                    Page 6 of 11
<PAGE>

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

         This report contains certain forward-looking statements and information
relating to the Company that are based on the beliefs of  management  as well as
assumptions  made by, and information  currently  available to management.  Such
statements  reflect the current view of the Company respecting future events and
are subject to certain  risks,  uncertainties,  and  assumptions,  including the
risks and uncertainties noted throughout the document.  Although the Company has
attempted to identify  important  factors that could cause the actual results to
differ  materially,  there may be other  factors that cause the  forward-looking
statements not to come true as anticipated,  believed,  projected,  expected, or
intended.  Should one or more of these risks or  uncertainties  materialize,  or
should  underlying  assumptions  prove  incorrect,  actual  results  may  differ
materially from those  described  herein as  anticipated,  believed,  projected,
estimated, expected, or intended.

         The  following  discussion  should  be read  in  conjunction  with  the
consolidated  financial  statements and notes thereto appearing in the Company's
Annual Report on Form 10-KSB (file number 0-13316).

RESULTS OF OPERATIONS
---------------------

Three months ended June 30, 2001.

         Net sales for the three  months  ended June 30,  2001 were  $822,863 as
compared to $807,755 for the same period in 2000, an increase of $15,108 or 2 %.
This increase was primarily  the result of increased  sales of medical  products
which  increased to $244,918 for the period  ending June 30, 2001 as compared to
$134,607 for the same period in 2000.  Laser product and service sales decreased
for the same period from  $673,148 in 2000 to $577,945 for the period ended June
30, 2001.

         Cost of  products  sold for the three  months  ended June 30, 2001 were
$630,953  as compared  to  $767,762  for the same period in 2000,  a decrease of
$136,809 or 18 %, which was  primarily  due to the  increase in sales of medical
products.  As a percentage of net sales,  cost of products sold was 77 % for the
three months ended June 30, 2001 as compared to 95% for the same period in 2000.
This  percentage  decrease in the cost of products sold was primarily the result
of a decreased percentage in labor and overhead costs associated with sales.

         Selling,  general,  and  administrative  expenses  for the three months
ended June 30, 2001 were $372,878 as compared to $285,882 for the same period in
2000,  an increase of $86,996 or 30%.  This  increase in selling,  general,  and
administrative  expenses  was  the  result  of  increased  marketing  and  sales
activities associated with medical products and to the valuation of common stock
options that were granted by the Company.

         Research and development  expenditures  for the three months ended June
30, 2001 were  $49,442 as  compared  to $69,272  for the same period in 2000,  a
decrease of $19,830 or 29%.



                                    Page 7 of 11
<PAGE>

         Royalty  expenses  for the three months ended June 30, 2001 were $7,325
as compared to $7,098 for the same period in 2000.

         Interest  income and other  revenue for the three months ended June 30,
2001 was $233 as compared  to $2,239 for the same period in 2000,  a decrease of
$2,006 or 90%.  Interest expenses for the three month period ended June 30, 2001
were $9,693 as compared to $1,899 of interest  expense during the same period of
2000. This increase in interest  expense was primarily the result of the accrual
of interest on two convertible notes payable.

         The Company  recognized  a net loss for the three months ended June 30,
2001 of  $247,195  or $.15 per share  compared to a net loss of $321,919 or $.20
per share for the same  period in 2000,  an  improvement  of $74,724 or $.05 per
share.  This improvement was primarily the result of increased medical sales and
to decreases in production costs and expenses.  Improvements in these areas were
partially  offset  by the  valuation  of common  stock  options  granted  by the
Company.

Six months ended June 30, 2001.

         Net sales for the six months  ended June 30,  2001 were  $1,673,799  as
compared to  $1,437,895  for the same period in 2000, an increase of $235,904 or
16%.  This  increase  was  primarily  the result of  increased  sales of medical
products  which  increased to $429,944 for the six month period  ending June 30,
2001 as  compared to $145,335  for the same  period in 2000.  Laser  product and
service  sales  decreased  for  the  same  period  from  $1,292,560  in  2000 to
$1,243,855 for the six month period ended June 30, 2001.

         Cost of  products  sold for the six  months  ended  June 30,  2001 were
$1,366,676 as compared to $1,325,142 for the same period in 2000, an increase of
$41,534  or 3 %,  which  was  primarily  due  to the  increase  in  sales.  As a
percentage of net sales,  cost of products sold was 82% for the six months ended
June 30, 2001 as compared  to 92% for the same period in 2000.  This  percentage
decrease in the cost of products  sold was  primarily  the result of a decreased
percentage in labor and overhead costs associated with sales.

         Selling,  general, and administrative expenses for the six months ended
June 30, 2001 were $599,382 as compared to $485,274 for the same period in 2000,
an  increase  of  $114,108  or 24%.  This  increase  in  selling,  general,  and
administrative  expenses was  primarily  the result of increased  marketing  and
sales activities associated with medical products and to the valuation of common
stock options that were granted by the Company.

         Research and development expenditures for the six months ended June 30,
2001 were $121,742 as compared to $122,837 for the same period in 2000.

         Royalty expenses for the six months ended June 30, 2001 were $17,625 as
compared to $15,348 for the same period in 2000, an increase of $2,277 or 15%.

         Interest  income and other  revenue  for the six months  ended June 30,
2001 was $1,185 as compared to $3,648 for the same period in 2000, a decrease of



                                  Page 8 of 11
<PAGE>



$2,463 or 68%.  Interest  expenses  for the six month period ended June 30, 2001
were $26,286 as compared to $3,171 of interest expense during the same period of
2000. This increase in interest  expense was primarily the result of the accrual
of interest on two convertible notes payable.

         The  Company  recognized  a net loss for the six months  ended June 30,
2001 of  $456,727  or $.28 per share  compared to a net loss of $510,229 or $.32
per share for the same  period in 2000,  an  improvement  of $53,502 or $.04 per
share.  This improvement was primarily the result of increased medical sales and
to decreases in production costs and expenses.  Improvements in these areas were
partially  offset  by the  valuation  of common  stock  options  granted  by the
Company.

LIQUIDITY AND CAPITAL RESOURCES

         On June 30,  2001,  the  Company  had a deficit in  working  capital of
$312,939 as  compared to working  capital of $72,663 at  December  31,  2000,  a
decrease of $385,602.  This decrease in working capital was primarily the result
of the Company's net loss for the six month period ended June 30, 2001.

         Cash  equivalents at June 30, 2001 were $18,922  compared to $38,600 on
December  31,  2000,  a  decrease  of  $19,678  or 51%.  This  decrease  in cash
equivalents was primarily a result of the Company's net loss for the six month's
ended June 30, 2001 which was partially offset by decreased accounts  receivable
and increases in accounts  payable and  inventory.  The Company is continuing to
explore  other  sources for  additional  capital  but has not  entered  into any
agreements for additional  sources of borrowing or capital other than that which
has already been received through the sale of common stock.



PART II.  OTHER INFORMATION
          -----------------

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

         The Company's  Annual  Meeting of  Shareholders  was held May 17, 2001.
Proxies for the meeting  were  solicited  pursuant to  Regulation  14A under the
Securities  Exchange Act of 1934.  At the meeting,  the  following  matters were
submitted to a vote of the Company's shareholder's:

         (1)  Election of four (4) directors
         (2)  Approve an amendment to the Company's  Article of Incorporation to
              increase the authorized  number of shares of the Company's  common
              stock to 40,000,000 shares
         (3)  Approve an amendment to the Company's  Article of Incorporation to
              authorize  up to  10,000,000  shares  of  preferred  stock  of the
              Company issuable in one or more series
         (4)  Approve  the  selection  of Tanner & Co. As the  certified  public
              accounts for the fiscal year ending December 31, 2001



                                  Page 9 of 11
<PAGE>

         The votes cast for or  withheld,  as well as the number of  abstentions
and broker non-votes,  as to each matter,  including a separate  tabulation with
respect to each nominee for office, were as follows:


PROPOSAL 1:   Election of Directors:
                                                Withheld
                                 For            Authority            Abstention
                                 ---            ---------            ----------


    B. Joyce Wickham           1,358,689           125                    0

    Rod O. Julander            1,358,689           125                    0

    Mark L. Ballard            1,358,689           125                    0

    Reinhardt Thyzel           1,358,914           100                    0


PROPOSAL 2:    Approve authorization of 40,000,000 shares of Common Stock

                For                      Against                Abstain
                ---                      -------                -------

             1,337,958                    10,706                 10,325


PROPOSAL 3:   Approve authorization of 10,000,000 shares of Preferred Stock

                For                      Against                Abstain
                ---                      -------                -------

               916,703                    33,744                 16,625


PROPOSAL 4:   Approve selection of Tanner & Co, as certified public accountants

                                                                   Broker's
               For           Against            Abstain            Non-votes
               ---           -------            -------            ---------

            1,348,801          38               10,200              489,448





                                  Page 10 of 11
<PAGE>

                                   SIGNATURES


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




                                LASER CORPORATION


Date:   August 10, 2001                       /s/ B. Joyce Wickham
        ---------------                       ----------------------------------
                                              B. Joyce Wickham
                                              President, Chief Executive Officer
                                              Treasurer and Director

Date:   August 10, 2001                       /s/ Reo K Larsen
        ---------------                       ----------------------------------
                                              Reo K Larsen
                                              General Accounting Manager





                                  Page 11 of 11
<PAGE>

                                   SIGNATURES


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




                                LASER CORPORATION


Date:   August 10, 2001                    -------------------------------------
        ---------------                    B. Joyce Wickham
                                           President and Chief Executive Officer
                                           Treasurer and Director

Date:   August 10, 2001                    -------------------------------------
                                           Reo K Larsen
                                           General Accounting Manager






                                  Page 11 of 11
<PAGE>