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, 2002
                                       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 -- 1,643,073 shares as of August 5, 2002
<PAGE>


                                      INDEX

                       LASER CORPORATION AND SUBSIDIARIES


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

Item 1.  Financial Statements (Unaudited)

         Consolidated Balance Sheets - June 30, 2002 and December 31, 2001.

         Consolidated Statements of Operations - Three months ended June 30,
         2002 and 2001; Six months ended June 30, 2002 and 2001.

         Consolidated Statements of Cash Flows - Six months ended June 30, 2002
         and 2001.

         Notes to Consolidated Financial Statements - June 30, 2002.

Item 2.  Management's Discussion and Analysis.



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

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


SIGNATURES
----------

CERTIFICATION
-------------


                                  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                                                       2002               2001
------                                                  -------------      ---------------
                                                         (Unaudited)
<S>                                                     <C>                <C>
CURRENT ASSETS
  Cash and cash equivalents                             $      39,116      $        26,837
  Receivables, net                                            672,266              474,477
  Inventories                                                 391,522              555,669
  Other current assets                                          7,056                3,529
                                                        -------------      ---------------
        Total Current Assets                                1,109,960            1,060,512
                                                        -------------      ---------------

NON-CURRENT ASSETS
  Equipment and leasehold improvements, net                   169,787              199,392
  Other assets                                                 35,662               35,662
                                                        -------------      ---------------
                                                        $   1,315,409      $     1,295,566
                                                        -------------      ---------------

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

CURRENT LIABILITIES
  Accounts payable                                      $   1,234,592      $     1,079,585
  Accrued expenses                                            289,925              296,513
  Accrued warranty expense                                    150,000              140,000
  Current notes payable                                       500,000              500,000
  Current portion capital leases                                8,645               11,427
                                                        -------------      ---------------

      Total Current Liabilities                             2,183,162            2,027,525
                                                        -------------      ---------------

LONG-TERM DEBT                                                  4,319                7,362
                                                        -------------      ---------------

      Total Liabilities                                 $   2,187,481      $     2,034,887
                                                        -------------      ---------------

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; 1,643,073 and 1,631,357 shares
   issued, respectively                                        82,154               81,568
  Additional paid-in capital                                2,168,350            2,148,936
  Deferred Compensation                                      (136,800)            (136,800)
  Accumulated deficit                                      (2,985,776)          (2,833,025)
                                                        -------------      ---------------

       Total Stockholders' Deficit                           (872,072)            (739,321)
                                                        -------------      ---------------

                                                        $   1,315,409      $     1,295,566
                                                        -------------      ---------------
</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,
                                         2002            2001            2002           2001
                                     ------------     -----------    -----------    -----------
<S>                                  <C>              <C>            <C>            <C>
REVENUES:
  Net sales                          $    514,110     $   822,863    $ 1,219,816    $ 1,673,799
  Interest and other income                    55             233             93          1,185
                                     ------------     -----------    -----------    -----------
                                          514,165         823,096      1,219,909      1,674,984
                                     ------------     -----------    -----------    -----------

COSTS AND EXPENSES:
  Cost of products sold                   400,899         630,953        985,417      1,366,676
  Selling, general and
    administrative                        156,773         372,878        325,950        599,382
  Research and development                 12,105          49,442         28,452        121,742
  Royalties                                 6,104           7,325         13,037         17,625
  Interest                                  9,468           9,693         19,804         26,286
                                     ------------     -----------    -----------    -----------
                                          585,349       1,070,291      1,372,660      2,131,711
                                     ------------     -----------    -----------    -----------

LOSS FROM OPERATIONS
  BEFORE INCOME TAXES                     (71,184)       (247,195)      (152,751)      (456,727)

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

NET LOSS                             $    (71,184)    $  (247,195)   $  (152,751)   $  (456,727)
                                     ------------     -----------    -----------    -----------

NET LOSS PER SHARE
  - Basic and Diluted                $       (.04)    $      (.15)   $      (.09)   $      (.28)
                                     ------------     -----------    -----------    -----------

  Average number of shares of
    Common Stock outstanding
      - Basic and Diluted               1,643,000       1,631,000      1,641,000      1,630,000
                                     ------------     -----------    -----------    -----------

</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, 2002 AND 2001
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                 2002                2001
                                                              ------------      -------------
CASH FLOWS FROM OPERATING ACTIVITIES

<S>                                                           <C>               <C>
  Net loss                                                    $   (152,751)     $    (456.727)

  Adjustments to reconcile net loss
    to net cash provided from
    operating activities:
      Depreciation and amortization                                 29,605             31,964
      Provision for losses on accounts receivable                    4,977              9,329
      Stock compensation expense                                      ---              45,600
  (Increase) decrease in assets:
      Receivables                                                 (202,766)           341,534
      Inventories                                                  164,147           (159,021)
      Other assets                                                  (3,527)            16,501
  Increase (decrease) in liabilities:
      Trade accounts payable and
        accrued expenses                                           178,419            172,409
                                                              ------------      -------------

      Net Cash Provided from Operating Activities                   18,104              1,589

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

CASH FLOWS FROM FINANCING ACTIVITIES:
  Payments on Capital Leases                                        (5,825)            (6,376)
    Proceeds from Sale of Stock                                       ---               8,000
                                                              ------------      -------------

     Net Cash (used in) Provided from Financing Activities          (5,825)             1,624
                                                              ------------      -------------

INCREASE (DECREASE) IN CASH
     AND CASH EQUIVALENTS                                           12,279            (19,678)

CASH AND CASH EQUIVALENTS, BEG. OF PERIOD                           26,837             38,600
                                                              ------------      -------------

CASH AND CASH EQUIVALENTS, END OF PERIOD                      $     39,116      $      18,922
                                                              ------------      -------------
</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, 2002


NOTE A - BASIS OF PRESENTATION

         The accompanying  unaudited consolidated financial statements have been
prepared in accordance  with  accounting  principles  generally  accepted in the
United States 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  accounting  principles  generally
accepted in the United States 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,  2002 are not
necessarily  indicative  of the results that may be expected for the year ending
December 31, 2002. For further information,  refer to the consolidated financial
statements  and footnotes  thereto for the year ended December 31, 2001 included
in the Company's Annual Report on Form 10-KSB (file number 0-13316).

NOTE B - RECLASSIFICATIONS

         Certain 2001  financial  statement  amounts have been  reclassified  to
conform to 2002 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 months ended June 30, 2002,  the Company  issued  11,716
shares of common  stock to two board  members in exchange for $20,000 of accrued
director's  fees.  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:


                                                   Six Months
                                                  Ended June 30,
                                           2002                     2001
                                          ------                   ------

         Interest                          2,304                    2,078
                                          ------                   ------

         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, 2002.

         Net sales for the three  months  ended June 30,  2002 were  $514,110 as
compared to $822,863  for the same period in 2001,  a decrease of $308,753 or 38
%. This decrease was primarily the result of decreased sales of medical products
which  decreased  to $35,764 for the period  ending June 30, 2002 as compared to
$244,918 for the same period in 2001.  Laser product and service sales decreased
for the same period from  $577,945 in 2001 to $478,346 for the period ended June
30, 2002.

         Cost of  products  sold for the three  months  ended June 30, 2002 were
$400,899  as compared  to  $630,953  for the same period in 2001,  a decrease of
$230,054  or 36 %,  which was  primarily  due to the  decrease  in  sales.  As a
percentage  of net sales,  cost of products  sold was 78 % for the three  months
ended  June 30,  2002 as  compared  to 77% for the  same  period  in 2001.  This
percentage  increase in the cost of products  sold was primarily the result of a
slight increase in the labor costs percentage.

         Selling,  general,  and  administrative  expenses  for the three months
ended June 30, 2002 were $156,773 as compared to $372,878 for the same period in
2001,  a decrease of $216,105 or 58%.  This  decrease in selling,  general,  and
administrative  expenses  was  the  result  of  decreased  marketing  and  sales
activities associated with medical products.

         Research and development  expenditures  for the three months ended June
30, 2002 were  $12,105 as  compared  to $49,442  for the same period in 2001,  a
decrease of $37,337 or 76%.

         Royalty  expenses  for the three months ended June 30, 2002 were $6,104
as compared to $7,325 for the same period in 2001.

         Interest  income and other  revenue for the three months ended June 30,
2002 was $55 as compared to $233 for the same period in 2001.  Interest expenses
for the three month period ended June 30, 2002 were $9,468 as compared to $9,693
of interest expense during the same period of 2001.

         The Company  recognized  a net loss for the three months ended June 30,
2002 of $71,184 or $.04 per share compared to a net loss of $247,195 or $.15 per
share for the same period in 2001, an improvement of $176,011 or $.11 per share.
This decrease in the net loss is primarily the result of decreased marketing and
sales expenses.



                                  Page 7 of 11
<PAGE>

Six months ended June 30, 2002.

         Net sales for the six months  ended June 30,  2002 were  $1,219,816  as
compared to  $1,673,799  for the same period in 2001,  a decrease of $453,983 or
27%. This decrease was the result of decreased  sales of medical  products which
decreased to $224,455 for the six month period  ending June 30, 2002 as compared
to  $429,944  for the same period in 2001 and laser  product  and service  sales
decrease from $1,243,855 in 2001 to $995,361 for the six month period ended June
30, 2002.

         Cost of  products  sold for the six  months  ended  June 30,  2002 were
$985,417 as compared to  $1,366,676  for the same period in 2001,  a decrease of
$381,259  or 28 %,  which was  primarily  due to the  decrease  in  sales.  As a
percentage of net sales,  cost of products sold was 81% for the six months ended
June 30, 2002 as compared  to 82% for the same period in 2001.  This  percentage
decrease in the cost of products  sold was primarily the result of a decrease in
material costs percentages.

         Selling,  general, and administrative expenses for the six months ended
June 30, 2002 were $325,950 as compared to $599,382 for the same period in 2001,
a  decrease  of  $273,432  or  46%.  This  decrease  in  selling,  general,  and
administrative  expenses was  primarily  the result of decreased  marketing  and
sales activities associated with medical products.

         Research and development expenditures for the six months ended June 30,
2002 were  $28,452  as  compared  to  $121,742  for the same  period in 2001,  a
decrease of $93,290 or 77%

         Royalty expenses for the six months ended June 30, 2002 were $13,037 as
compared to $17,625 for the same period in 2001, a decrease of $4,588 or 26%.

         Interest  income and other  revenue  for the six months  ended June 30,
2002 was $93 as compared  to $1,185 for the same  period in 2001,  a decrease of
$1,092 or 92%.  Interest  expenses  for the six month period ended June 30, 2002
were $19,804 as compared to $26,286 of interest  expense  during the same period
of 2001.

         The  Company  recognized  a net loss for the six months  ended June 30,
2002 of  $152,751  or $.09 per share  compared to a net loss of $456,727 or $.28
per share for the same period in 2001,  an  improvement  of $303,976 or $.19 per
share.  This  decrease  in the net loss was  primarily  the result of  decreased
marketing and sales expenses.


LIQUIDITY AND CAPITAL RESOURCES

         On June 30,  2002,  the  Company  had a deficit in  working  capital of
$1,073,202  as compared to a deficit in working  capital of $967,013 at December
31, 2001, an increase in working capital  deficit of $106,189.  This decrease in
working  capital was  primarily the result of the Company's net loss for the six
month period ended June 30, 2002.

         Cash  equivalents at June 30, 2002 were $39,116  compared to $26,837 on
December  31,  2001,  an  increase  of $12,279  or 46%.  This  increase  in cash
equivalents  was  primarily  a result of  increased  accounts  payable and lower
inventory  levels which were partially  offset by the Company's net loss for the
six month's ended June 30, 2002. The Company's  continuation  as a going concern
is dependent on its ability to generate  sufficient income and cash flow to meet
its  obligations  on a timely basis,  to obtain  additional  financing as may be
required, and ultimately to attain profitability. There is no assurance that the
Company will be successful in its efforts.



                                  Page 8 of 11
<PAGE>

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 15, 2002.
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 the selection of Tanner & Co. As the certified public
                  accounts for the fiscal year ending December 31, 2002



         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          1,396,029         25            650

              Rod O. Julander           1,396,029         25            650

              Mark L. Ballard           1,396,029         25            650

              Reinhardt Thyzel          1,396,029         25            650


         PROPOSAL 2: Approve the  selection of Tanner & Co, as certified  public
accountants


                                                                  Broker's
                    For        Against        Abstain            Non-votes
                ---------      -------        -------            ---------
                1,396,204         0             500                 0




                                  Page 9 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 14, 2002                    /s/ B. Joyce Wickham
        ---------------                    ----------------------------------
                                           B. Joyce Wickham
                                           President, Chief Executive Officer
                                           and Director

Date:   August 14, 2002                    /s/ Mark L. Ballard
        ---------------                    ----------------------------------
                                           Mark L. Ballard
                                           Vice President, Treasurer,
                                           Assistant Secretary
                                           and Director






                                  Page 10 of 11
<PAGE>

                                  CERTIFICATION


         In connection with the  accompanying  Form 10-QSB of Laser  Corporation
for  the  quarter  ended  June  30,  2002,  the  following   officers  of  Laser
Corporation, hereby certify that, to the best of their knowledge and belief:

         (1)  such Form 10-QSB fully complies with the  requirements  of Section
              13(a) or 15(d) of the Securities Exchange Act of 1934; and

         (2)  the information  contained in such Form 10-QSB fairly presents, in
              all material  respects,  the  financial  condition  and results of
              Laser Corporation and subsidiaries.


    By:         /s/ B. Joyce Wickham
                ----------------------------------
                B. Joyce Wickham
                President, Chief Executive Officer


    By:         /s/ Mark L. Ballard
                ----------------------------------
                Mark L. Ballard
                Vice President, Treasurer


    Date:        August 14, 2002




                                  Page 11 of 11
<PAGE>