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, 2002
                               -----------------------

[]   TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR  15(d)  OF THE  SECURITIES
     EXCHANGE ACT OF 1934

For the transition period from ________________ to _______________

Commission File No.     33-55254-38
                    ---------------

                             ULTRONICS, CORPORATION
        (Exact name of Small Business Issuer as specified in its charter)

         NEVADA                                         87-0485313
-------------------------------          ---------------------------------------
(State or other jurisdiction of          (I.R.S. Employer Identification Number)
incorporation or organization)



4348 Butternut Road, Salt Lake City, Utah              84124
---------------------------------------------------------------
(Address of principal executive offices)            (Zip Code)


Issuer's telephone number, including area code     (801)  272-2432
                                               ---------------------

     Indicate  by check  mark  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 Issuer
was  required  to file such  reports),  and (2) has been  subject to such filing
requirements for the past 90 days. [X] Yes [ ] No

     Indicate the number of shares  outstanding of each of the Issuer's  classes
of common stock, as of the latest practicable date.

             Class                           Outstanding as of June 30, 2002
------------------------------------         -------------------------------
$.001 PAR VALUE CLASS A COMMON STOCK                 6,000,000 SHARES

                                        1

<PAGE>



                         PART 1 - FINANCIAL INFORMATION

Item 1.  Financial Statements.

BASIS OF REPRESENTATION

General

     The  accompanying  unaudited  financial  statements  have been  prepared in
accordance with the instructions to Form 10-QSB and,  therefore,  do not include
all information and footnotes necessary for a complete presentation of financial
position,  results  of  operations,  cash  flows  and  stockholders'  equity  in
conformity  with generally  accepted  accounting  principles.  In the opinion of
management,  all adjustments considered necessary for a fair presentation of the
results of  operations  and  financial  position have been included and all such
adjustments  are of a normal  recurring  nature.  Operating  results for the six
months ended June 30, 2002, are not  necessarily  indicative of the results that
can be expected for the year ending December 31, 2002.



                                        2

<PAGE>



                              ULTRONICS CORPORATION
                          (A Development Stage Company)
                                  BALANCE SHEET


<TABLE>
<CAPTION>
                                                                                  June 30,                 December 31,
                                                                                    2002                       2001
                                                                                 (Unaudited)                 (Audited)
                                                                           ----------------------    ----------------------
ASSETS
   CURRENT ASSETS
<S>                                                                        <C>                       <C>
     Cash in bank                                                          $                2,906    $                5,537
                                                                           ----------------------    ----------------------
                                                   TOTAL CURRENT ASSETS                     2,906                     5,537
                                                                           ----------------------    ----------------------

                                                                           $                2,906    $                5,537
                                                                           ======================    ======================

LIABILITIES & EQUITY
   CURRENT LIABILITIES
     Accounts payable                                                      $                    0    $                    0
                                                                           ----------------------    ----------------------

                                              TOTAL CURRENT LIABILITIES                         0                         0

   STOCKHOLDERS' EQUITY
     Common Stock $.001 par value:
       Authorized - 100,000,000 shares
       Issued and outstanding 6,000,000 shares                                              6,000                     6,000
     Additional paid-in capital                                                            20,000                    20,000
     Deficit accumulated during the development stage                                     (23,094)                  (20,463)
                                                                           ----------------------    ----------------------

                                             TOTAL STOCKHOLDERS' EQUITY                     2,906                     5,537
                                                                           ----------------------    ----------------------

                                                                           $                2,906    $                5,537
                                                                           ======================    ======================
</TABLE>


                                        3

<PAGE>



                              ULTRONICS CORPORATION
                          (A Development Stage Company)
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                                      3/14/90
                                           Three Months Ended                       Six Months Ended                 (Date of
                                                June 30,                                June 30,                   inception) to
                                        2002                2001                2002               2001               6/30/02
                                 ------------------  ------------------  -----------------   -----------------  ------------------
<S>                              <C>                 <C>                 <C>                 <C>                <C>
Net sales                        $                0  $                0  $               0   $               0  $                0
Cost of sales                                     0                   0                  0                   0                   0
                                 ------------------  ------------------  -----------------   -----------------  ------------------

                GROSS PROFIT                      0                   0                  0                   0                   0

General and administrative
   expenses                                     555                 625              2,631               2,798              23,094
                                 ------------------  ------------------  -----------------   -----------------  ------------------

                    NET LOSS     $             (555) $             (625) $          (2,631)  $          (2,798) $          (23,094)
                                 ==================  ==================  =================   =================  ==================

Basic & diluted net income
   (loss) per weighted
   average share                 $              .00  $              .00  $             .00   $             .00
                                 ==================  ==================  =================   =================

Weighted average number of
   common shares used to
   compute net income
   (loss) per weighted
   average share                          6,000,000           6,000,000          6,000,000           6,000,000
                                 ==================  ==================  =================   =================
</TABLE>


                                        4

<PAGE>



                              ULTRONICS CORPORATION
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                                      3/14/90
                                           Three Months Ended                       Six Months Ended                 (Date of
                                                June 30,                                June 30,                   inception) to
                                        2002                2001                2002               2001               6/30/02
                                 ------------------  ------------------  -----------------   -----------------  ------------------
OPERATING ACTIVITIES
<S>                              <C>                 <C>                 <C>                 <C>                <C>
   Net (loss)                    $             (555) $             (625) $          (2,631)  $          (2,798) $          (23,094)
   Adjustments to reconcile net
     (loss) to cash used by
     operating activities:
       Accounts payable                      (1,391)             (1,488)                 0                   0                   0
                                 ------------------  ------------------  -----------------   -----------------  ------------------
                    NET CASH
           USED BY OPERATING
                  ACTIVITIES                 (1,946)             (2,113)            (2,631)             (2,798)            (23,094)

INVESTING
   ACTIVITIES                                     0                   0                  0                   0                   0
                                 ------------------  ------------------  -----------------   -----------------  ------------------

                    NET CASH
          PROVIDED (USED) BY
         INVESTING ACTIVITIES                     0                   0                  0                   0                   0

FINANCING ACTIVITIES
   Proceeds from sale of
     common stock                                 0                   0                  0                   0              26,000
                                 ------------------  ------------------  -----------------   -----------------  ------------------

                    NET CASH
                 PROVIDED BY
         FINANCING ACTIVITIES                     0                   0                  0                   0              26,000
                                 ------------------  ------------------  -----------------   -----------------  ------------------

         INCREASE (DECREASE)
                     IN CASH
                         AND
            CASH EQUIVALENTS                 (1,946)             (2,113)            (2,631)             (2,798)              2,906

Cash and cash equivalents
   at beginning of period                     4,852               8,808              5,537               9,493                   0
                                 ------------------  ------------------  -----------------   -----------------  ------------------

               CASH AND CASH
                 EQUIVALENTS
            AT END OF PERIOD     $            2,906  $            6,695  $           2,906   $           6,695  $            2,906
                                 ==================  ==================  =================   =================  ==================
</TABLE>






                                        5

<PAGE>


Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

     The  Company  has had no  operational  history  and has  yet to  engage  in
business of any kind.  Expenses  of $555 during the quarter  ended June 30, 2002
and $2,631 for the six months  ended June 30,  2002 are  related to the costs of
regulatory  filings to maintain the Company's status as an SEC reporting entity.
These costs were borne by another  entity  prior to  December,  1997.  All risks
inherent in new and  inexperienced  enterprises  are  inherent in the  Company's
business.  The Company has not made a formal study of the economic  potential of
any  business.  At the  present,  the Company has not  identified  any assets or
business opportunities for acquisition.

     The Company has limited liquidity and available capital resources,  such as
credit  lines,  guarantees,  etc.  and  should a  merger  or  acquisition  prove
unsuccessful,  it is possible  that the Company may be dissolved by the State of
Nevada for  failing to file  reports.  Should  management  decide not to further
pursue its acquisition activities, management may abandon its activities and the
shares of the Company would become worthless.

     Based on current economic and regulatory  conditions,  Management  believes
that it is possible,  if not probable,  for a company like the Company,  without
many assets or liabilities,  to negotiate a merger or acquisition  with a viable
private company.  The opportunity arises  principally  because of the high legal
and  accounting  fees and the length of time  associated  with the  registration
process of "going public". However, should any of these conditions change, it is
very possible that there would be little or no economic  value for anyone taking
over control of the Company.

                           PART II - OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K

         (a)      Exhibits
                  None

         (b)      Reports on Form 8-K
                  None.

                                   SIGNATURES

         Pursuant to the requirements of the Securities and Exchange Act of
1934, the Issuer has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                              ULTRONICS CORPORATION



Dated: August 8, 2002        /s/ W. Reed Jensen
                             --------------------------------------------
                             W. Reed Jensen, President and Director


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