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                                      2003

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                             ----------------------
                                   FORM 10-K/A
                                (Amendment No. 1)
(MARK ONE)

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

         For the fiscal year ended December 31, 2003

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

            For the transition period from __________ to ___________


                        Commission File Number 000-30045

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

                                  CATUITY, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

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

                DELAWARE                                 38-3518829
    (State or other jurisdiction of          (I.R.S. Employer Identification No)
     incorporation or organization)

2711 E. JEFFERSON AVE. DETROIT MICHIGAN                     48207
(Address of principal executive offices)                 (Zip code)

                                 (313-567-4348)
              (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)

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

           SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

                                      NONE
           SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:

     COMMON STOCK, PAR VALUE $.001 PER SHARE     NASDAQ SMALL CAP MARKET

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Indicate by check mark whether the registrant (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 [ ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K (ss. 229.405 of this chapter) is not contained herein, and
will not be contained, to the best of registrant's knowledge, in definitive
proxy or information statements incorporated by reference in Part III of this
Form 10-K or any amendment to this Form 10-K. [ ]

Indicate by check mark whether the registrant is an accelerated filer (as
defined in Exchange Act Rule 12b-2). Yes [ ] No [X ]

At June 30, 2003 the aggregate market value of voting and non-voting stock held
by non-affiliates of the Registrant totaled approximately $13,053,364 based on
the last sale price as reported on the Nasdaq Small Cap Market. As of February
29, 2004 there were 11,661,417 shares of the Registrant's common stock
outstanding, par value $.001 per share.
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EXPLANATORY NOTE:

         This Amendment No. l to the Annual Report on Form 10-K for the fiscal
year ended December 31, 2003 of Catuity, Inc. is being filed solely to amend
Exhibits 31.1 and 31.2 previously filed with the Form 10-K to comply with the
current certification requirements of Item 601 (b)(31) of Regulation S-K.




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SIGNATURES

    Pursuant to the requirements of Section 13 or 15(d) of the Securities
    Exchange Act of 1934, the registrant has duly caused this report to be
    signed on its behalf by the undersigned, thereunto duly authorized.

    Date: March 17, 2004                      CATUITY, INC.

                                          By: /s/John H. Lowry
                                              --------------------------
                                              John H. Lowry
                                              Vice President, CFO and Secretary














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                                 Exhibit Index



Exhibit No.              Description
-----------              -----------

   31.1                  Certification pursuant to Section 302 of the
                         Sarbanes-Oxley Act of 2002, by Michael V. Howe,
                         the Registrant's Chief Executive Officer.

   31.2                  Certification pursuant to Section 302 of the
                         Sarbanes-Oxley Act of 2002, by John H. Lowry, the
                         Registrant's Chief Financial Officer.