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 March 31, 2003
                                       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 March 31, 2003


<PAGE>
                                      INDEX

                       LASER CORPORATION AND SUBSIDIARIES


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

Item 1.  Financial Statements (Unaudited)

         Consolidated Condensed Balance Sheet - March 31, 2003. (Unaudited)

         Consolidated Condensed Statements of Operations - Three months ended
         March 31, 2003 and 2002. (Unaudited)

         Consolidated Condensed Statements of Cash Flows - Three months ended
         March 31, 2003 and 2002. (Unaudited)

         Notes to Consolidated Condensed Financial Statements - March 31, 2003.

Item 2.  Management's Discussion and Analysis.

Item 3.  Controls and Procedures

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

Item 1.  Legal Proceedings

Item 5.  Other Information

Item 6.  Exhibits and Reports on Form 8-K


SIGNATURES
----------

CERTIFICATIONS
--------------

EXHIBITS
--------


                                       2
<PAGE>

PART I. FINANCIAL INFORMATION

Item 1.
                       LASER CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED CONDENSED BALANCE SHEET


                                                                     March 31,
ASSETS                                                                 2003
------                                                              (Unaudited)
                                                                    ----------
CURRENT ASSETS
  Cash and cash equivalents                                       $       8,624
  Receivables, net                                                      378,224
  Inventories                                                           159,143
  Other current assets                                                      132
                                                                  --------------
        Total Current Assets                                            546,123
                                                                  --------------

NON-CURRENT ASSETS
  Equipment and leasehold improvements, net                             129,950
  Other assets                                                           35,662
                                                                  --------------
                                                                  $      711,735
                                                                  ==============
LIABILITIES AND
---------------
STOCKHOLDERS' DEFICIT
---------------------

CURRENT LIABILITIES
  Accounts payable                                                $   1,191,400
  Accrued expenses                                                      273,833
  Accrued warranty expense                                               99,285
  Current notes payable                                                 500,000
  Current portion capital leases                                          6,370
                                                                  --------------
         Total Current Liabilities                                    2,070,888
                                                                  --------------

LONG-TERM DEBT                                                              ---
                                                                  --------------
      Total Liabilities                                           $   2,070,888
                                                                  --------------

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' 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 shares
   issued and outstanding                                                82,154
  Additional paid-in capital                                          2,168,350
  Deferred Compensation                                                (136,800)
  Accumulated deficit                                                (3,472,857)
       Total Stockholders' Deficit                                   (1,359,153)
                                                                  --------------
                                                                  $     711,735
                                                                  ==============


      See accompanying notes to consolidated condensed financial statements


                                       3
<PAGE>

                       LASER CORPORATION AND SUBSIDIARIES
                 CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
                                   (Unaudited)

                                                       Three months ended
                                                 -------------------------------
                                                    March 31,        March 31,
                                                      2003             2002
                                                 --------------   --------------
 REVENUES:
  Net sales                                      $      211,460   $     705,706
  Interest and other income                                  29              38
                                                 --------------   --------------

                                                        211,489         705,744

COSTS AND EXPENSES:
  Cost of sales                                         295,313         584,518
  Selling, general and administrative                   117,309         169,178
  Research and development                                7,397          16,347
  Royalties                                               1,187           6,932
  Interest                                                9,370          10,336
                                                 --------------   --------------
                                                        430,576         787,311
                                                 --------------   --------------


LOSS FROM OPERATIONS BEFORE INCOME TAXES               (219,087)        (81,567)

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

NET LOSS                                         $     (219,087)  $     (81,567)
                                                 ==============   ==============

NET LOSS PER SHARE                               $        ( .13)  $       ( .05)
    - Basic and Diluted                          ==============   ==============


  Weighted average number of shares of
    Common Stock outstanding                          1,643,000       1,638,000
    - Basic and Diluted                          ==============   ==============



      See accompanying notes to consolidated condensed financial statements



                                       4
<PAGE>

                       LASER CORPORATION AND SUBSIDIARIES
                 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
                   THREE MONTHS ENDED MARCH 31, 2003 AND 2002
                                   (Unaudited)


                                                      2003             2002
                                                 --------------   --------------

CASH FLOWS FROM OPERATING ACTIVITIES:

  Net loss                                       $     (219,087)  $     (81,567)

  Adjustments to reconcile net loss to
    net cash provided from operating
    activities:
      Depreciation and amortization                      14,859          14,858
      Bad debt expense                                      860           2,585
  (Increase) decrease in assets:
      Receivables                                        83,751        (145,100)
      Inventories                                        39,555         177,795
      Other assets                                        5,622            (495)
  Increase (decrease) in liabilities:
      Trade accounts payable and
        accrued expenses                                 69,955          11,422
                                                 --------------   --------------
      Net Cash Used in Operating Activities              (4,485)        (20,502)

CASH FLOWS FROM INVESTING ACTIVITIES:                        --             ---

CASH FLOWS FROM FINANCING ACTIVITIES:
  Payments on Capital Leases                             (1,483)         (3,650)
                                                 --------------   --------------
 DECREASE IN CASH
AND CASH EQUIVALENTS                                     (5,968)        (24,152)

CASH AND CASH EQUIVALENTS, BEG. OF PERIOD                14,592          26,837
                                                 --------------   --------------

CASH AND CASH EQUIVALENTS, END OF PERIOD         $        8,624   $       2,685
                                                 ==============   ==============



      See accompanying notes to condensed consolidated financial statements



                                       5
<PAGE>

                       LASER CORPORATION AND SUBSIDIARIES
        NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (Unaudited)

                                 March 31, 2003


NOTE A - BASIS OF PRESENTATION

         The accompanying  unaudited consolidated condensed 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 footnote disclosures required by accounting principles generally accepted in
the United  States of America.  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 ended
March  31,  2003  are not  necessarily  indicative  of the  results  that may be
expected for the year ending December 31, 2003. For further  information,  refer
to the  consolidated  financial  statements  and footnotes  thereto for the year
ended  December 31, 2002 included in the Company's  Annual Report on Form 10-KSB
(file number 0-13316).

NOTE B - RECLASSIFICATIONS

         Certain 2002  financial  statement  amounts have been  reclassified  to
conform to 2003 presentations.

NOTE C - WEIGHTED AVERAGE SHARES

         The computation of basic loss per common share is based on the weighted
average number of shares outstanding during each year.

         The  computation  of diluted  earnings per common share is based on the
weighted average number of shares  outstanding  during the year, plus the common
stock  equivalents  that would  arise from the  exercise  of stock  options  and
warrants  outstanding,  using the treasury  stock method and the average  market
price per share during the year.  Options to purchase 188,000 and 297,584 shares
of common stock at prices ranging from $.10 to $6.06 per share were  outstanding
at March 31, 2003 and 2002,  respectively,  but were not included in the diluted
loss per share calculation because the effect would have been antidilutive.

NOTE D - SUPPLEMENTAL CASH FLOW INFORMATION

         During the quarter ended March 31, 2003, the Company returned inventory
to a supplier in the amount of $72,200 and recorded a corresponding reduction in
accounts payable.

         During the  quarter  ended March 31,  2002 the  Company  issued  11,716
shares of common  stock to two board  members in exchange for $20,000 of accrued
director's fees.

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


                                       6
<PAGE>

                                                           Three Months
                                                          Ended March 31,
                                                     2003               2002
                                                 --------------   --------------

                         Interest                           202           1,586
                                                 --------------   --------------

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

NOTE E - SUBSEQUENT EVENT

         Due to the lack of orders  for the  Company's  laser  products  and the
resulting lack of income and cash flow, on April 7, 2003, the Company  suspended
the operations of its subsidiary, American Laser Corporation. Subsequent to that
date the Board of Directors decided to permanently discontinue the operations of
American  Laser  Corporation  and sell its assets.  American  Laser  Corporation
manufactures,  markets  and  services  lasers  purchased  primarily  by original
equipment  manufacturers  which then  incorporates the lasers as component parts
into their equipment.


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 March 31, 2003.

         Net sales for the three  months  ended March 31, 2003 were  $211,460 as
compared to $705,706 for the same period in 2002, a decrease of $494,246 or 70%.
This decrease was primarily the result of decreased  sales of laser products and
service  sales,  including  a  significant  decrease  in sales to the  Company's
primary  customer.  Laser product and service sales  decreased  from $517,015 in
2002 to $174,264  for the 2003  period,  a decrease of $342,751 or 66%.  Medical
product sales  decreased  from $188,691 in 2002 to $37,196 for the period ending
March 31, 2003 a decrease of $151,495 or 80%.

                                       7
<PAGE>


         Cost of products  sold for the three  months  ended March 31, 2003 were
$295,313  as compared  to  $584,518  for the same period in 2002,  a decrease of
$289,205  or 49%,  which  was  primarily  due to the  decrease  in  sales.  As a
percentage  of net sales,  cost of products  sold was 140% for the three  months
ended  March 31,  2003 as  compared  to 83% for the same  period  in 2002.  This
percentage  increase in the cost of products  sold was primarily the result of a
larger percentage  decrease in sales compared to the percentage decrease in cost
of sales, including certain fixed costs.

         Selling,  general,  and  administrative  expenses  for the three months
ended March 31, 2003 were  $117,309 as compared to $169,178  for the same period
in 2002, a decrease of $51,869 or 31%.  This decrease in selling,  general,  and
administrative  expenses  was  primarily  the result of reduced  administrative,
marketing and sales costs.

         Research and development  expenditures for the three months ended March
31, 2003 were  $7,397 as  compared  to $16,347  for the same  period in 2002,  a
decrease of $8,950 or 55%.

         Royalty  expenses for the three months ended March 31, 2003 were $1,187
as compared to $6,932 for the same period in 2002.

         Interest  income and other revenue for the three months ended March 31,
2003 was $29 as compared to $38 for the same period in 2002.  Interest  expenses
for the three  month  period  ended  March 31,  2003 were  $9,370 as compared to
$10,336 of interest  expense during the same period of 2002.  Interest  expenses
are  primarily  the  result of the  interest  accrued on two  convertible  notes
payable.

         The Company  recognized a net loss for the three months ended March 31,
2003 of $219,087 or $.13 per share compared to a net loss of $81,567 or $.05 per
share for the same  period in 2002,  an  increase  of $137,520 or .08 per share.
This increase in net loss is primarily the result of decreased sales.


LIQUIDITY AND CAPITAL RESOURCES

         On March 31,  2003,  the  Company  had a deficit in working  capital of
$1,524,765 as compared to a deficit in working capital of $1,069,427 at December
31, 2002, an increase in working capital deficit of $455,338 . This reduction in
working  capital  was  primarily  the result of the  Company's  net loss and the
classification of an additional $250,000 of debt as a current liability.

         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.

ITEM 3.  CONTROLS AND PROCEDURES

     (a) Evaluation of disclosure controls and procedures


                                       8
<PAGE>


         Based on their  evaluations  as of a date  within 90 days of the filing
date of this report,  the principal  executive  officer and principal  financial
officer of the Company have concluded that the Company's disclosure controls and
procedures  (as defined in Rules  13a-14(c) and 15d-14(c)  under the  Securities
Exchange Act) are effective to ensure that information  required to be disclosed
by the Company in reports that the Company files or submits under the Securities
Exchange Act is recorded,  processed,  summarized  and reported  within the time
periods specified in the rules and forms of the SEC.

     (b) Changes in internal controls

         There were no significant changes in the Company's internal controls or
in other  factors  that  could  significantly  affect  these  internal  controls
subsequent to the date of their most recent evaluation. The Company did not need
to implement any corrective actions with regard to significant  deficiencies and
material weaknesses in its internal controls.

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

ITEM 1.  LEGAL PROCEEDINGS

         In May 2002,  Leon Cohn,  M.D.  filed an action in Florida  against the
Company for breach of contract on a purchase agreement entered into for a Dodick
Laser  PhotoLysis  System.  Dr.  Cohn is  seeking  to  obtain  a  refund  of the
approximately  $100,000  purchase  price and  return  the  system.  The  Company
disputes  the  right of Dr.  Cohn to  return  the  System  and  obtain a refund.
Discovery  in this  action  was  commenced  and the  Company  filed an answer on
October 1, 2002 but since then the  Plaintiff  has done nothing to move the case
forward.

         During  2002  two   unrelated   parties  which  entered  into  purchase
agreements  with the Company to buy Dodick Laser  PhotoLysis  Systems  claimed a
right to  terminate  their  purchase  agreements.  To resolve the  dispute,  the
Company  agreed to accept return of the systems and to repay the purchase  price
in monthly  payments.  The Company  has been unable to make the monthly  payment
obligations.  These parties have threatened to commence legal action, but to our
knowledge have not yet done so.

         The Company is involved in certain  additional  legal  actions which it
considers  generally routine to its business activities or which involved claims
which,  if decided  adversely to the Company,  would not  materially  affect the
consolidated financial statement of the Company.


ITEM 5.  OTHER INFORMATION

         Due to a lack  of  orders  for the  Company's  laser  products  and the
resulting lack of income and cash flow, on April 7, 2003, the Company  suspended
the operations of its subsidiary, American Laser Corporation. Subsequent to that
date the Board of Directors decided to permanently discontinue the operations of
American  Laser  Corporation  and sell its assets.  American  Laser  Corporation
manufactures,  markets  and  services  lasers  purchased  primarily  by original
equipment  manufacturers  which then  incorporates the lasers as component parts
into their equipment.


                                       9
<PAGE>

         The Company has fallen  behind in the  payment of its  facility  rental
obligations.  The landlord has notified the Company of default and has requested
that the Company vacate the premises.  The Company has temporarily leased a much
smaller facility and will soon vacate its current space.


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         1.    Exhibits

               Exhibit 99.1 - Certification Pursuant to 18 U.S.C. Section
               1350 as adopted pursuant to Section 906 of the Sarbanes -
               Oxley Act of 2002.

               Exhibit 99.2 - Certification Pursuant to 18 U.S.C. Section
               1350 as adopted pursuant to Section 906 of the Sarbanes -
               Oxley Act of 2002.

         2.    Reports on Form 8-K.

               No reports on Form 8-K have been filed during the quarter ended
               March 31, 2003.



                                   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:   May 15, 2003                          /s/ B. Joyce Wickham
        ------------                          ----------------------------------
                                              B. Joyce Wickham
                                              President, Chief Executive Officer
                                              and Director

 Date:  May 15, 2003                          /s/ Mark L. Ballard
       -------------                          ----------------------------------
                                              Mark L. Ballard
                                              Vice President, Treasurer,
                                              Assistant Secretary and Director

                                       10
<PAGE>

                  CERTIFICATION PURSUANT TO RULE 13A-14 OF THE
                  SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.
                             AS ADOPTED PURSUANT TO
                 SECTION 302 OF THE SARBANES - OXLEY ACT OF 2002

         I, B. Joyce Wickham certify that:

         1. I have  reviewed  this  quarterly  report  on Form  10-QSB  of Laser
Corporation;

         2. Based on my knowledge,  this  quarterly  report does not contain any
untrue  statement of a material fact or omit to state a material fact  necessary
to make the  statements  made,  in light of the  circumstances  under which such
statements  were made, not misleading with respect to the period covered by this
quarterly report.

         3. Based on my knowledge, the financial statements, and other financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report.

         4. The registrant's  other certifying officer and I are responsible for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

         (a) designed  such  disclosure  controls and  procedures to ensure that
material  information  relating to the  registrant,  including its  consolidated
subsidiaries, is made known to us by others within those entities,  particularly
during the period in which this quarterly report is being prepared;

         (b) evaluated the effectiveness of the registrant's disclosure controls
and  procedures  as of a date  within 90 days prior to the  filing  date of this
quarterly report (the "Evaluation Date"); and

         (c)  presented  in this  quarterly  report  our  conclusions  about the
effectiveness of the disclosure  controls and procedures based on our evaluation
as of the Evaluation Date;

         5. The  registrant's  other  certifying  officer and I have  disclosed,
based on our most recent evaluation,  to the registrant's auditors and the audit
committee  or  registrant's  board  of  directors  (or  persons  performing  the
evaluation function):

         (a) all significant deficiencies in the design or operation of internal
controls  which  could  adversely  affect  the  registrant's  ability to record,
process,  summarize  and  report  financial  data  and have  identified  for the
registrant's auditors any material weaknesses in internal controls; and

         (b) any fraud,  whether or not material,  that  involves  management or
other  employees  who  have a  significant  role  in the  registrant's  internal
controls; and

         6. The registrant's  other  certifying  officer and I have indicated in
this quarterly report whether or not there were significant  changes in internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.

     May 15, 2003                             /s/ B. Joyce Wickham
     ------------                             -----------------------
        (Date)                                B. Joyce Wickham
                                              President, Chief Executive Officer
                                              and Director

                                       11
<PAGE>

                  CERTIFICATION PURSUANT TO RULE 13A-14 OF THE
                   SECURITIES EXCHANGE ACT OF 1934, AS AMENDED
                             AS ADOPTED PURSUANT TO
                 SECTION 302 OF THE SARBANES - OXLEY ACT OF 2002

         I, Mark L. Ballard, certify that:

         1. I have  reviewed  this  quarterly  report  on Form  10-QSB  of Laser
Corporation,

         2. Based on my knowledge,  this  quarterly  report does not contain any
untrue  statement of a material fact or omit to state a material fact  necessary
to make the  statements  made,  in light of the  circumstances  under which such
statements  were made, not misleading with respect to the period covered by this
quarterly report.

         3. Based on my knowledge, the financial statements, and other financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report.

         4. The registrant's  other certifying officer and I are responsible for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

         (a) designed  such  disclosure  controls and  procedures to ensure that
material  information  relating to the  registrant,  including its  consolidated
subsidiaries, is made known to us by others within those entities,  particularly
during the period in which this quarterly report is being prepared.

         (b) evaluated the effectiveness of the registrant's disclosure controls
and  procedures  as of a date  within 90 days prior to the  filing  date of this
quarterly report (the "Evaluation Date"); and

         (c)  presented  in this  quarterly  report  our  conclusions  about the
effectiveness of the disclosure  controls and procedures based on our evaluation
as of the Evaluation Date;

         5. The  registrant's  other  certifying  officer and I have  disclosed,
based on our most recent evaluation,  to the registrant's auditors and the audit
committee  or  registrant's  board  of  directors  (or  persons  performing  the
evaluation function):

         (a) all significant deficiencies in the design or operation of internal
controls  which  could  adversely  affect  the  registrant's  ability to record,
process,  summarize  and  report  financial  data  and have  identified  for the
registrant's auditors any material weaknesses in internal controls; and

         (b) any fraud,  whether or not material,  that  involves  management or
other  employees  who  have a  significant  role  in the  registrant's  internal
controls; and

         6. The registrant's  other  certifying  officer and I have indicated in
this quarterly report whether or not there were significant  changes in internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.

     May 15, 2003                             /s/ Mark L. Ballard
     ------------                             ----------------------------------
       (Date)                                 Mark L. Ballard
                                              Vice President, Treasurer,
                                              Assistant Secretary and Director



                                       12