UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

     |X|     QUARTERLY  REPORT  PURSUANT  TO  SECTION  13  OR  15(d)
                 OF  THE  SECURITIES  EXCHANGE  ACT  OF  1934

                  For  the  quarter  ended  June  30,  2002

                                       or

     |  |     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 0-21679

                           RETURN ASSURED INCORPORATED
             (Exact name of registrant as specified in its charter)

     Delaware                                    13-3896069
     (State  or  other  jurisdiction  of         (I.R.S.  or  Employer
     incorporation  or  organization)            Identification  No.)


     5962  La  Place  Court,  Suite  230
     Carlsbad,  California                             92008
    (Principal  executive  offices)                    (Zip  Code)

                                 (760) 438-7245

              (Registrant's telephone number, including area code)

     Check 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, and (2) has been subject to such filing requirements for
the past 90 days. Yes |X| No | |

     As of August 18, 2002, there were 35,834,012 shares of the registrant's
common stock, par value $0.001 issued and outstanding.

<PAGE>
                           RETURN ASSURED INCORPORATED

                  JUNE 30, 2002 QUARTERLY REPORT ON FORM 10-QSB
                                TABLE OF CONTENTS

                                                                         Page
                                                                         Number

Special  Note  Regarding  Forward-Looking  Statements .................. 2

     PART  I  -  FINANCIAL  INFORMATION

Item  1.     Financial  Statements ..................................... 3

Item  2.     Management's Discussion and Analysis of Financial
               Condition and Results of Operations .................... 11

     PART  II  -  OTHER  INFORMATION

Item  1.     Legal Proceedings ........................................ 15

Item  2.     Changes in Securities and Use of Proceeds ................ 15

Item  3.     Defaults in Senior Securities ............................ 16

Item  4.     Submission of Matters to a Vote of Security Holders ...... 16

Item  5.     Other Information ........................................ 16

Item  6.     Exhibits and Reports on Form 8-K ......................... 16



                SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

     To  the  extent  that the information presented in this Quarterly Report on
Form 10-QSB for the quarter ended June 30, 2002 discusses financial projections,
information  or  expectations  about our products or markets, or otherwise makes
statements  about  future  events,  such  statements are forward-looking. We are
making  these  forward-looking  statements  in  reliance  on  the  safe  harbor
provisions  of the Private Securities Litigation Reform Act of 1995. Although we
believe  that the expectations reflected in these forward-looking statements are
based  on  reasonable assumptions, there are a number of risks and uncertainties
that  could  cause actual results to differ materially from such forward-looking
statements.  These  risks and uncertainties are described, among other places in
this  Quarterly  Report,  in  "Management's Discussion and Analysis of Financial
Condition  and  Results  of  Operations."

     In  addition,  we  disclaim  any  obligations to update any forward-looking
statements  to  reflect events or circumstances after the date of this Quarterly
Report.  When  considering  such  forward-looking statements, you should keep in
mind  the  risks  referenced  above  and the other cautionary statements in this
Quarterly  Report.

                                                                         Page 2
<PAGE>
                         PART I - FINANCIAL INFORMATION
ITEM  1.     FINANCIAL  STATEMENTS

     Independent  Accountant's  Report ...................................... 4

     Consolidated Balance Sheet as of June 30, 2002 and December 31, 2001 ... 5

     Consolidated Statements  of Operations for the three months
       ended June 30, 2002 and  June 30, 2001 and for the
       six months ended June 30, 2002 and June 30, 2001 ..................... 6

     Consolidated Statements of Cash Flows for the six months ended
       June 30, 2002 and June  30,  2001 .....................................7

     Notes  to  Consolidated  Financial  Statements ...................... 8-10



                                                                         Page 3
<PAGE>
INDEPENDENT  ACCOUNTANT'S  REPORT


To  the  Board  of  Directors  and  Shareholders  of
EliteJet,  Inc.  and  Subsidiaries,

The  accompanying  consolidated  financial  statements have been prepared giving
effect  to  the  acquisition  of Return Assured Incorporated and Subsidiaries by
EliteJet  Inc.,  an  increase  in  the  number  of authorized shares, a 1 for 60
reverse  stock  split, and the change of the name of Return Assured Incorporated
to EliteJet, Inc. These transactions are described in Note 1 to the consolidated
financial  statements.

We  have  reviewed  the accompanying consolidated balance sheet of EliteJet Inc.
and Subsidiaries as of June 30, 2002, and the related consolidated statements of
operations,  and  cash  flows  for the six-month periods ended June 30, 2002 and
2001,  and the related consolidated statements of operations for the three-month
periods  then  ended.  These  financial statements are the responsibility of the
Company's  management.

We  conducted  our  reviews  in  accordance  with  standards  established by the
American  Institute  of  Certified  Public  Accountants.  A  review  of  interim
financial  information consists principally of applying analytical procedures to
financial  data  and  making  inquiries of persons responsible for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with generally accepted auditing standards, the objective of which is
the  expression  of  an  opinion  regarding  the financial statements taken as a
whole.  Accordingly,  we  do  not  express  such  an  opinion.

Based on our reviews, we are not aware of any material modifications that should
be  made to the accompanying consolidated financial statements for them to be in
conformity  with  generally  accepted  accounting  principles.

The  accompanying  financial  statements have been prepared assuming the Company
will  continue  as  a  going concern. As discussed in Note 1 to the consolidated
financial  statements  reported  upon,  the  Company has sustained recurring net
operating  losses  and has a shareholders' deficit. In addition, the holders of
the  preferred stock currently have the right to redeem their shares for cash in
an  amount  which  exceeds  currently  available  funds.  These  factors  raise
substantial  doubt  about  the Company's ability to continue as a going concern.
The  financial  statements do not include any adjustments that might result from
this  uncertainty.

The  information  set  forth  in the accompanying consolidated balance sheet has
been  derived  from the financial statements of EliteJet, Inc. and subsidiary as
of  December  31, 2001, which were audited by other auditors whose report, dated
July  10,  2002,  expressed  an  unqualified  opinion  on  those  statements.


GOLDSTEIN  GOLUB  KESSLER  LLP
New  York,  New  York

July  22,  2002


                                                                         Page 4
<PAGE>
<TABLE>
<CAPTION>

                                                                            ELITEJET, INC. AND SUBSIDIARIES
                                                      (SEE NOTE 1 TO THE CONSOLIDATED FINANCIAL STATEMENTS)

                                                                                 CONSOLIDATED BALANCE SHEET


                                                                                     JUNE 30    DECEMBER 31
                                                                                        2002           2001
                                                                                  (UNAUDITED)     (AUDITED)


<S>                                                                              <C>           <C>
ASSETS

Current Assets:
Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $    49,060   $   341,899
Cash in escrow. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    2,791,752
Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      179,481       220,053
Prepaid expenses and other current assets . . . . . . . . . . . . . . . . . . .        1,883         2,194

TOTAL CURRENT ASSETS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    3,022,176       564,146

Property and Equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . . .    2,575,981     2,562,211
Other Assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       11,960

TOTAL ASSETS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $ 5,610,117   $ 3,126,357
===============================================================================  ============  ============

LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)

Current Liabilities:
Accounts payable and accrued liabilities. . . . . . . . . . . . . . . . . . . .  $ 1,756,008   $   243,893
Current portion of long term debt . . . . . . . . . . . . . . . . . . . . . . .       96,781       242,967
Customer deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       50,000
Due to shareholder. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       98,198       105,798
Secured convertible note. . . . . . . . . . . . . . . . . . . . . . . . . . . .      350,000

TOTAL CURRENT LIABILITIES . . . . . . . . . . . . . . . . . . . . . . . . . . .    2,300,987       642,658

Long Term Debt, net of current portion. . . . . . . . . . . . . . . . . . . . .    2,236,598     2,045,357

TOTAL LIABILITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    4,537,585     2,688,015
-------------------------------------------------------------------------------  ------------  ------------

Commitments and Contingencies

Minority interest in equity of subsidiary . . . . . . . . . . . . . . . . . . .      255,000       299,258


Redeemable Preferred Stock, 5,000,000 authorized, 6,000 designated as series A,
  $1,000 stated value; issued 5,000 shares, and outstanding 3,829 shares;
   no liquidation preference. . . . . . . . . . . . . . . . . . . . . . . . . .    3,828,873


Shareholders' Equity (Deficit):
Common stock - $.001 par value; authorized 100,000,000, issued
  and outstanding 7,697,234  and 7,000,000 shares, respectively.                       7,697         7,000
Additional paid-in capital. . . . . . . . . . . . . . . . . . . . . . . . . . .     (123,333)    2,107.882
Accumulated deficit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   (2,895,705)   (1,975,798)

TOTAL SHAREHOLDERS' EQUITY (DEFICIT). . . . .. . .        . . . . . . . . . . .   (3,011,341)      139,084

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) . . . .  . . . . . . . . .  $ 5,610,117   $ 3,126,357
===============================================================================  ============  ============

</TABLE>



                                                                         Page 5
<PAGE>
<TABLE>
<CAPTION>

                                                                  ELITEJET, INC. AND SUBSIDIARIES
                                                          (SEE NOTE 1 TO THE CONSOLIDATED FINANCIAL
                                                                                      STATEMENTS)

                                                             CONSOLIDATED STATEMENT OF OPERATIONS


                                                                    UNAUDITED
                                               ---------------------------------------------------
                                                    THREE-MONTH               SIX-MONTH
                                                    PERIOD ENDED              PERIOD ENDED
                                               ------------------------  -------------------------
                                               JUNE 30,     JUNE 30,     JUNE 30,     JUNE 30,
                                               2002         2001         2002         2001

<S>                                            <C>          <C>          <C>          <C>
Charter revenue. .. . . . . . . . . . . . . .  $  877,349   $  132,990   $1,324,316   $  132,990

Cost of revenue . . . . . . . . . . . . . . .     461,266       99,548    1,128,663      169,413


Margin. . . . . . . . . . . . . . . . . . . .     416,083       33,442      195,653      (36,423)

Selling, General and administrative expenses.     625,403      537,484    1,007,959      782,830

Loss from operations. . . . . . . . . . . . .    (209,320)    (504,042)    (812,306)    (819,253)

Other expense:
     Interest expense . . . . . . . . . . . .      56,567       48,962      100,831       91,492


Net loss before minority interest . . . . . .    (265,887)    (553,004)    (913,137)    (910,745)

Minority interest in loss of subsidiary . . .           -            -           49            -

Net Loss. . . . . . . . . . . . . . . . . . .    (265,887)    (553,004)    (913,088)    (910,745)

Dividends on preferred stock. . . . . . . . .       6,819            -        6,819            -

Net loss attributable to common shareholders.  $ (272,706)  $ (553,004)  $ (919,907)  $ (910,745)
=============================================  ===========  ===========  ===========  ===========

Net loss per share - basic and diluted. . . .  $    (0.04)  $    (0.08)  $    (0.12)  $    (0.13)
=============================================  ===========  ===========  ===========  ===========
Weighted-average number of shares outstanding   7,597,234    7,000,000    7,472,406    7,000,000
=============================================  ===========  ===========  ===========  ===========

</TABLE>



                                                                         Page 6

<PAGE>
<TABLE>
<CAPTION>

                                                                 ELITEJET, INC. AND SUBSIDIARIES
                                           (SEE NOTE 1 TO THE CONSOLIDATED FINANCIAL STATEMENTS)

                                                            CONSOLIDATED STATEMENT OF CASH FLOWS


                                                                             UNAUDITED
                                                                         -----------------
                                         SIX-MONTH PERIOD ENDED JUNE 30, 2002         2001

<S>                                                                      <C>          <C>
Operating activities:
Net loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $ (913,088)  $(910,745)
Items not involving cash:
    Minority interest . . . . . . . . . . . . . . . . . . . . . . . . .          49
Depreciation and amortization . . . . . . . . . . . . . . . . . . . . .     414,136     677,915
Legal services rendered in exchange for shares. . . . . . . . . . . . .       1,000
Non cash interest expense . . . . . . . . . . . . . . . . . . . . . . .      18,164
(Increase) decrease in operating assets:
Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . .      40,572     (60,229)
    Prepaid expenses and other current assets . . . . . . . . . . . . .         311
    Other assets. . . . . . . . . . . . . . . . . . . . . . . . . . . .      (8,874)          -
Increase (decrease) in operating liabilities:
    Accounts payable and accrued liabilities. . . . . . . . . . . . . .     244,506      31,319
    Customer deposits . . . . . . . . . . . . . . . . . . . . . . . . .     (50,000)

NET CASH USED IN OPERATING ACTIVITIES . . . . . . . . . . . . . . . . .    (253,224)   (261,740)
-----------------------------------------------------------------------  -----------  ----------

Investing activities:
Acquisition of property and equipment . . . . . . . . . . . . . . . . .    (427,906)
Net cash received on merger . . . . . . . . . . . . . . . . . . . . . .   2,792,588

NET CASH PROVIDED BY INVESTING ACTIVITIES . . . . . . . . . . . . . . .   2,364,682
-----------------------------------------------------------------------  -----------

Financing activities:
Principal payments on long term debt. . . . . . . . . . . . . . . . . .    (493,143)    (55,235)
Repayments to shareholder . . . . . . . . . . . . . . . . . . . . . . .      (7,600)
Cash received from loans. . . .     . . . . . . . . . . . . . . . . . .     888,198     185,098

NET CASH PROVIDED BY FINANCING ACTIVITIES . . . . . . . . . . . . . . .     387,455     129,863
-----------------------------------------------------------------------  -----------  ----------

Increase (decrease) in cash . . . . . . . . . . . . . . . . . . . . . .   2,498,913    (131,877)

Cash at beginning of period . . . . . . . . . . . . . . . . . . . . . .     341,899     138,235

Cash at end of period . . . . . . . . . . . . . . . . . . . . . . . . .  $2,840,812   $   6,358
=======================================================================  ===========  ==========


SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for Interest. . . . . . . . . . . . . . . .  $   82,667   $  91,492
=======================================================================  ===========  ==========

SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:

  Net Assets received in acquisition. . . . . . . . . . . . . . . . . .  $1,574,369
=======================================================================  ===========
  Accrual of dividends on preferred stock . . . . . . . . . . . . . . .  $    6,819
=======================================================================  ===========

</TABLE>




                                                                         Page 7
<PAGE>
                  RETURN ASSURED INCORPORATED AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS



1.  PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

     EliteJet, Inc. ("EliteJet Nevada") was incorporated under the laws of the
     State of Nevada on November 16, 1999. The Company was formed to acquire,
     own, and operate jet air transportation. The company and its subsidiary,
     Elite Jet Partners, LLC ("Elite Jet Partners"), provide charter services
     throughout North America and the Caribbean.

     These financial statements have been prepared giving effect to the
     acquisition of Return Assured Incorporated, a Delaware Corporation
     ("Return Assured Delaware") and Subsidiaries by EliteJet Nevada, an
     increase in the number of authorized shares from 51,000,000 (50,000,000
     common and 1,000,000 preferred) to 105,000,000 shares (100,000,000 common
     and 5,000,000 preferred), a 1 for 60 reverse stock split, and the change of
     the name of Return Assured Delaware to EliteJet, Inc. ("The Merger
     Transaction") The board of directors of Return Assured Delaware and its
     majority stockholders approved these corporate actions on April 25, 2002
     and prior. The approval by Return Assured Delaware's board of directors and
     the majority stockholders is adequate under Delaware law to effect these
     corporate actions. The corporate actions will not become effective until 20
     days after Return Assured Delaware has mailed an information statement to
     its stockholders. Stockholders of Return Assured Delaware have no right
     under Delaware Law or Return Assured Delaware's certificate of
     incorporation or bylaws to dissent these corporate actions. To date, the
     information statement has not been declared effective by the Securities and
     Exchange Commission and as such, has not been mailed to Return Assured
     Delaware's stockholders. However, since no further decisions by the Company
     need to be made regarding these corporate actions, the Company has
     accounted for them effective April 26, 2002.

     On April 26, 2002, EliteJet Nevada, through a reverse triangular merger,
     became the accounting parent and the legal subsidiary of Return Assured
     Delaware. Return Assured Delaware issued 7,000,000 shares of its stock to
     the shareholder of EliteJet Nevada in exchange for his shares of EliteJet
     Nevada in the Merger Transaction. On April 25, 2002, Return Assured
     Delaware's assets amounted to $2,795,724, liabilities amounted to
     $1,221,355 and Redeemable Preferred Stock amounted to $2,828,873. Return
     Assured Delaware's name will now be EliteJet, Inc. ("EliteJet Delaware"), a
     Delaware corporation. As a result, the former subsidiaries of Return
     Assured Delaware became wholly owned subsidiaries of EliteJet Delaware. The
     merger was accounted for as a capital transaction, accompanied by a
     recapitalization. The consolidated statements of operations and cash flows
     include the activity of Return Assured Delaware and its subsidiaries only
     since the date of the merger. The consolidated financial statements include
     the following companies, EliteJet Nevada, EliteJet Delaware, Elite Jet
     Partners, Return Assured Incorporated (a Nevada Corporation) ("Return
     Assured Nevada"), and Edutec Computer Education Institute, Inc. ("Edutec")
     (collectively, the "Company"). At the date of the merger, Return Assured
     Nevada and Edutec were inactive companies.

     The accompanying consolidated financial statements have been prepared
     assuming the Company will continue as a going concern. As shown in the
     accompanying consolidated financial statements, the Company has sustained
     recurring net losses, and has a shareholders' deficit. In addition, the
     holders of the preferred stock currently have the right to redeem their
     shares for cash in an amount which exceeds currently available funds.


                                                                         Page 8
<PAGE>

     For comparability, certain 2001 amounts have been reclassified, where
     appropriate, to conform to the financial statement presentation used in
     2002.

     The consolidated financial statements have been prepared without audit
     pursuant to the rules and regulations of the SEC. Certain information and
     footnote disclosures normally included in financial statements prepared in
     accordance with accounting principles generally accepted in the United
     States of America have been condensed of omitted pursuant to such rules and
     regulations.

     The interim financial statements include all adjustments consisting only of
     normal recurring accruals which, in the opinion of management, are
     necessary to ensure that the financial statements are not misleading.

     Cash in escrow denotes cash being held by an attorney. These amounts are
     not considered restricted because these funds are subject to withdrawal by
     the Company at the Company's option.

     Amounts due to shareholder represents funds advanced to the Company from
     the Company's majority shareholder, who is also an officer of the Company.
     These amounts are non-interest bearing and have no specific repayment
     terms.



2.  CONTINGENCIES:

     The Company was named in a lawsuit against Internet Business International,
     Inc. by Michael Rose, et al, in Orange County California Superior Court.
     The lawsuit alleges that the Company breached a contract to pay a finder's
     fee on the merger transaction. It is the Company's position that no
     liability exists, and the Company intends to vigorously defend the suit. If
     the Company is unsuccessful in defending this suit, the Company could incur
     a loss of $750,000.

     A legal proceeding is pending against the Company and two former officers,
     by a former officer of a subsidiary of Return Assured Delaware. This former
     officer of the Company's subsidiary is claiming that he is entitled to
     receive shares from the Company for contributions he made in founding
     Return Assured Delaware. It is the Company's position that its defense has
     merit. The two former officers of the Company have escrowed 780,000 shares
     of the Company's common stock they own to secure the claim if it is
     successful.

     Several other lawsuits have been asserted against the Company for amounts
     which are not material to the Company's results of operations or financial
     position. The Company believes that its defense of such suits have merit.
     The aggregate of the amount claimed against the Company under these other
     lawsuits is approximately $60,000.

     Since, in the opinion of management, estimated losses under legal
     proceedings were not probable, no accrual is required in accordance with
     Statement of Financial Accounting Standards No. 5.


                                                                         Page 9
<PAGE>
3.  PRO FORMA INFORMATION:

     The following pro forma information assumes that the acquisition had
     occurred at the beginning of the periods presented:

<TABLE><CAPTION>

                                Six-Months Period Ended           Three-Months Period Ended
                               ---------------------------       -------------------------
                               June  30,       June  30,         June  30,       June  30,
                                    2002            2001              2002            2001
<S>                           <C>             <C>               <C>              <C>
Sales                         $ 1,324,316     $   132,990       $   877,349      $   132,990
Loss  from  continuing
 operations                    (1,362,377)     (2,932,183)         (332,224)      (1,390,256)
Loss  per  share  -  basic
 and  diluted                       (0.18)          (0.41)            (0.04)           (0.19)
Weighted  average  number
 of  shares                     7,472,406       7,140,566         7,597,234        7,145,368

</TABLE>

4.  SECURED CONVERTIBLE NOTE:

     On April 23, 2002, the Company received $350,000 in exchange for a secured
     convertible note. The holder of the note is entitled to 50 hours of private
     flying service valued at $100,000 in lieu of interest which equates to an
     interest rate of approximately 29% and is being recorded as interest
     expense over the term of the loan. The note is due on April 23, 2003. On
     the due date of the loan, the holders have the option to convert the note
     into shares of the Company. The conversion price shall be the lesser of
     $3.00 or the average of the three lowest closing price of the Company's
     common stock for the 40 days immediately preceding the conversion date. The
     loan is secured by substantially all of the assets of the Company subject
     to the security on the long-term debt.


5.  MINORITY INTEREST:

     During 2001, the Company sold a 2% interest in Elite Jet Partners to a
     previously unrelated third party (the "client") in return for the use of
     private aircraft for 50 hours per year valued at $300,000. The client can
     sell its ownership percentage to the Company at any time after two years
     for 85% of its initial investment. As such, the company records minority
     interest for this investment at 85% of the client's initial investment,
     which is $255,000.

6.  REDEEMABLE PREFERRED STOCK

     The Company's redeemable preferred stock ("The Preferred Shares") carry a
     dividend rate of 1%, of which approximately $61,000 is accrued and in
     arrears at June 30, 2002. The Preferred Shares are convertible at the
     lesser of the three lowest per share market value prices for the previous
     45-day period preceding the conversion date or $3.00. Per share market
     price is defined as the closing bid prices of the Company's common shares.
     The preferred shares are redeemable based on factors outside the Company's
     control. At June 30, 2002, these factors had been met and as such, the
     preferred shares can be redeemed at any time for cash at the holder's
     option.


                                                                        Page 10
<PAGE>

ITEM  2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF  OPERATIONS

OVERVIEW

     We  are  in  the  business  of  operating  a  fractional aircraft ownership
program.  We  sell  ownership  interests  in  a  limited liability company which
entitles  the purchaser to utilize our aircraft for a specified number of flight
hours  per annum.  In addition, we provide management, ground support and flight
operation  services  to  customers  after  the  sale.  Our  revenues derive from
management  and  usage  fees  charged  to  clients  in  connection  with  flight
operations.  We  place  great  emphasis  on  customer service.  Our programs are
designed  to  offer  customers  guaranteed  availability  of aircraft, lower and
predictable  operating  costs  and  liquidity.

We  were incorporated during the fourth quarter of 1999 and commenced operations
in  2000.  We  did not realize operating income from our charter services during
calendar  year 2000. We began to realize income from our charter services during
2001.

We  derive  our revenue primarily from the charter of our aircraft. Interests in
our controlled LLC are sold to customers who pay our management and hourly fees.

     We  derive  revenue  from charging our owner-customers three types of fees:

     - Monthly management fees which are a portion of
       monthly shared fixed expenses;

     - Hourly fees for actual flight time; and

     - Miscellaneous fees, such as catering

We  have  low  operating  expenses because we operate a single type of aircraft,
have  a  highly  productive workforce and use advanced technologies. The largest
components  of  our cost of sales are aircraft fuel and pilot costs. The largest
components  of  our operating expenses are salaries, wages and benefits provided
to  our  employees.  Sales and marketing expenses include advertising, promotion
and  client entertainment.   Maintenance materials and repairs are expensed when
incurred. Because the average age of our aircraft is about twenty-two years, all
of  our  aircraft require less maintenance now than they will in the future. Our
maintenance  costs  will increase, both on an absolute basis and as a percentage
of our unit costs, as our fleet ages. Other costs of sale and operating expenses
consist  of  depreciation,  certain  purchased  services,  insurance,  passenger
refreshments,  personnel expenses, communication costs, supplies and taxes other
than  payroll  taxes.

RECENT  DEVELOPMENTS

     On  April  26,  2002, our predecessor company, Return Assured Incorporated,
agreed  to  acquire all of the stock of  EliteJet, Inc. This transaction gave us
access  to  all  of  the cash on hand of Return Assured to continue our aircraft
charter  business.


RESULTS  OF  OPERATIONS

     The  following  discussion  of our results of operations, and liquidity and
capital  resources, concerns our fractional aircraft ownership program.  We have
not  discussed any of the results of our discontinued operations. Our discussion
of  liquidity and capital resources relates to our financial condition following
the acquisition of all of the outstanding shares of EliteJet  by our predecessor
company.


                                                                        Page 11
<PAGE>
Three  Months  Ended  June 30, 2002 Compared to Three Months Ended June 30, 2001

     Charter Revenue

     Charter revenue increased from $132,990 during the three months ended June
30,  2001  to $877,349 during the three months ended June 30, 2002. The increase
was  due to the commencement of charter operations during 2001 while during 2002
we  were  fully  operational during the entire three month period. Cost of sales
increased  from $99,548 during the three months ended June 30, 2001 to $461,266
during  the  three months ended June 30, 2002. This increase corresponded to our
becoming  fully  operational  during  2002.

     Operating  Expenses

     Operating  expenses consist of selling expenses, general and administrative
expenses,  and depreciation expense. Operating expenses were $537,484 during the
three months ended June 30, 2001 and $625,403 during the three months ended June
30.  2002.  The  slight  increase  was  based on a decision to conserve cash for
equipment  and  other  hard  costs.

     Loss  From  Operations

     During  the  three month periods ended June 30, 2001 and June 30, 2002, our
losses from operations were $504,042 and $209,320, respectively. The loss in the
2001 period was due to our start-up of operations during that period without any
corresponding  income  from charter services. During the 2002 period we realized
charter  revenue  of  approximately  $877,000  but  corresponding  increases  in
cost  of  sales  and operating expenses resulted in our loss during this period.

     Other  Expenses

     Other expenses were $48,962 during the three months ended June 30, 2001 and
$56,567  during  the  three  months  ended  June  30, 2002. These other expenses
consist  primarily of interest and reflect and increased level of borrowing


Six  Months  Ended  June  30,  2002  Compared  to Six Months Ended June 30, 2001


     Charter Revenue

     Charter revenue  increased from $132,990 during the six months ended June
30,  2001  to $1,324,316 during the six months ended June 30, 2002. The increase
was  due to the commencement of charter operations during 2001 while during 2002
we  were  fully  operational  during  the entire six month period. Cost of sales
increased  from $169,413 during the six months ended June 30, 2001 to $1,128,663
during  the  six  months  ended June 30, 2002. This increase corresponded to our
becoming  fully  operational  during  2002.


                                                                        Page 12
<PAGE>
     Operating  Expenses

     Operating  expenses consist of selling expenses, general and administrative
expenses,  and depreciation expense. Operating expenses were $782,830 during the
six  months  ended June 30, 2001 and $1,128,668 during the six months ended June
30.  2002.  The  increase was based on increased operations and on a decision to
conserve  cash  for  equipment  and  other  hard  costs.

     Loss  From  Operations

     During  the  six  month  periods ended June 30, 2001 and June 30, 2002, our
losses from operations were $819,253 and $812,306, respectively. The loss in the
2001 period was due to our start-up of operations during that period without any
corresponding  income  from charter services. During the 2002 period we realized
charter  revenue  of  approximately    $1,324,316  but  corresponding  increases
in cost of sales and operating expenses resulted in our loss during this period.

Other  Expenses

     Other  expenses  were $91,492 during the six months ended June 30, 2001 and
$100,831 during the six months ended June 30, 2002. These other expenses consist
primarily of interest and reflect and increased level of borrowing.



LIQUIDITY  AND  CAPITAL  RESOURCES

     Working  Capital

     As of December 31, 2001, we had cash of $341,899 and accounts receivable of
$220,053.  At  the  end  of  our first quarter, on March 31, 2002, we had a cash
overdraft  of  $1,882 and accounts receivable of $42,116. We recognized the need
for  immediate  capital  in order to continue operations. After exploring all of
our  alternatives,  we  entered  into  the transaction with Return Assured under
which Return Assured acquired all of our outstanding stock. As of June 30, 2002,
we  had  cash  on  hand  of $49,060 and unrestricted cash held by an attorney of
$2,791,752.

     We believe that our cash on hand will allow us to continue with our planned
operations  for  a  period  of  two  years.  Cash will be used to pay all of our
operating expenses.  Aircraft will in all likelihood not be acquired unless they
can  be  leased or obtained with seller or third party financing. Acquisition of
aircraft by these methods, as compared to being purchased for cash, allows us to
pay  for  the  cost  of  aircraft over time as income from charter operations is
earned.

     Financing  Activities

     Our  financing  activities  have consisted primarily of issuances of common
stock,  sale  of  limited  liability company interests in our controlled limited
liability  company  and  long  term  debt.


                                                                        Page 13
<PAGE>
     During  the  six  months  ended  June 30, 2002, we borrowed $340,000 from a
third  party  lender, and $100,000  from  the  Small  Business  Administration.

     During the year ended December 31, 2001, we received $300,000 from the sale
of limited liability company units. We did not receive any amounts from the sale
of limited liability company units during the six months ended June 30, 2002. We
expect  to  realize  substantial  financing  from the sale of these units in the
remainder  of  2002  and  thereafter. It is through the sale of these units that
customers  join  our  fractional  share  ownership  program.

     Capital  Resources

     Our  primary capital resource is our cash on hand. Additional aircraft will
not be obtained unless they are available on terms that will allow us to finance
their acquisition. If necessary we believe we can raise additional funds through
the  sale  of common or preferred stock in one or more private placements. We do
not  anticipate that we will be able to obtain debt financing except for secured
debt  incurred  in  acquiring  aircraft.

     Going Concern Qualification

     In its review of our financial statements for the period ended June 30,
     2002 included in this report, our independent accountant's have noted
     factors which raise substantial doubt about our ability to continue as a
     going concern. These factors include that we have sustained recurring net
     operating losses and have a shareholders' deficit. In addition, holders of
     preferred stock have the right to redeem their shares for cash in an amount
     which exceeds available funds.

     Management believes that our access to the cash on hand of Return Assured
     will provide us with the working capital to continue our aircraft charter
     business. Management also believes that our preferred shareholders will not
     seek to redeem their shares out of funds needed for our continued
     operation.

NEW  ACCOUNTING  STANDARDS

     In June 2001, the Financial Accounting Standards Board issued Statement No.
141,  "Business  Combinations"  and  Statement  No.  142,  "Goodwill  and  Other
Intangible Assets". These statements become effective for us on July 1, 2001 for
Statement  No.  141  and  January  1,  2002  for  Statement  No.  142.

     In  June  2001,  the  Financial  Accounting  Standards  Board  also  issued
Statement  No.  143 "Accounting For Asset Retirement Obligations" and in August,
2001,  Statement  No.  144 "Accounting For Impairment and Disposal of Long Lived
Assets".  Statement  No.  143  will  change  the  accounting  and  reporting for
obligations associated with the retirement of tangible long-lived assets and the
associated  asset  retirement  costs.

     In  August 2001, the FASB issued SFAS No. 144 Accounting for the Impairment
of  Long-Lived Assets. SFAS No. 144 addresses financial accounting and reporting
for  the  impairment or disposal of long-lived assets. SFAS No. 144 is effective
for  fiscal  years beginning after December 15, 2001, and interim periods within
those  fiscal  years,  with  early  application  encouraged.

     In  May 2002, the Financial Accounting Standards Board issued SFAS No. 145,
Rescission  of  FASB  Statements No. 4, 44 and 64, Amendment of FASB No. 13, and
Technical  Corrections  (SFAS No. 145). SFAS No. 145 eliminates Statement 4 (and
Statement 64, as it amends Statement 4, which requires gains and losses from the
extinguishment  of  debt  to  be  aggregated  and, if material, classified as an
extraordinary  item,  net  of the related income tax effect. The criteria in APB
Opinion No. 30 will now be used to classify those gains and losses. SFAS No. 145
amends  FASB  Statement  No. 13 to require that certain lease modifications that
have economic effects similar to sale-leaseback transactions be accounted for in
the  same  manner  as  sale-leaseback  transactions.

     We  are  in  the process of analyzing SFAS No. 141 through 145.  Management
cannot  currently  assess  what effect the adoption of these pronouncements will
have  on  our  financial  position  or  results  of  operations.


                                                                        Page 14

                           PART II - OTHER INFORMATION
ITEM  1.     LEGAL  PROCEEDINGS
     Not  applicable.


ITEM  2.     CHANGES  IN  SECURITIES  AND  USE  OF  PROCEEDS
     On  April  10,  2002,  Matthew J. Sebal was issued 14,000,000 shares of the
Company's common stock in connection with a cancellation of a debt for $140,000.
Mr.  Sebal was the Company's President, he now serves as the Company's Secretary
and  as  a  director.

     On  April  10,  2002,  Kaplan  Gottbetter  &  Levenson,  LLP, the Company's
counsel, was issued 1,705,420 shares of the Company's common stock in connection
with  cancellation  of  a  debt  for  $17,054.

     On  April  10,  2002,  Todd  J.  Cusolle  was  issued 900,000 shares of the
Company's common stock for services rendered by Mr. Cusolle to
the  Company.  Mr.  Cusolle  is  a  director  of  the  Company.

     On  April  10,  2002,  Darren  Lozinik  was  issued  300,000  shares of the
Company's  common stock in connection with a cancellation of debt for past wages
valued  at  $40,000.

     On  April  10, 2002, Accent Pacific Capital, Inc. was issued 300,000 shares
of  the  Company's common stock in connection with a cancellation of debt valued
at  $62,155.73 and for services rendered by Mr. Michael Sweatman to the Company.

     On  April  10,  2002,  Peter  Coker  Sr. was issued 1,624,460 shares of the
Company's  common  stock  in  connection  with  a cancellation of debt valued at
$36,000  and  for  services  rendered  by  Mr.  Coker  to  the  Company.

      On April 23, 2002, the Company issued 14,000 shares of its common stock to
KGL Investments, Ltd. ("KGL") in satisfaction of a $100,000 loan provided by KGL
to  the  Company.

     On  April 23, 2002, the Company issued 14,000 shares of its common stock to
Joseph  Campagna  ("Campagna")  in  satisfaction  of a $100,000 loan provided by
Campagna  to  the  Company.

     On  April 23, 2002, the Company issued 30,000 shares of its common stock to
Ascension  Holdings  Limited  ("Ascension")in settlement of a claim held against
the  Company.

     On  April 23, 2002, the Company issued 12,000 shares of its common stock to
KGL Investments, Ltd. ("KGL") in settlement of a claim held against the Company.
On  April 23, 2002, the Company also issued 33,333 shares of its common stock to
KGL  in  payment  of  service  fees  owed  by  the  Company  to  KGL.

     On  April  23, 2002, the Company issued 5,000 shares of its common stock to
Dunlap Industries, Inc. ("Dunlap")in payment of service fees owed by the Company
to  Dunlap.

On  April  23,  2002,  the  Company  issued 25,000 shares of its common stock to
Walter  Davidson  ("Davidson")in  payment of service fees owed by the Company to
Davidson.

On  April 23, 2002, the Company issued 10,000 shares of its common stock to Alex
Crohn  ("Crohn")in  payment  of  service  fees  owed  by  the  Company to Crohn.

On  April 23, 2002, the Company issued 10,000 shares of its common stock to Mike
Newman  ("Newman")in  payment  of  service  fees  owed by the Company to Newman.


                                                                        Page 15
     All  of  the  foregoing  securities  were  sold  under  the  exemption from
registration  provided by Section 4(2) of the Securities Act. Neither we nor any
person  acting on our behalf offered or sold the securities by means of any form
of  general  solicitation  or general advertising. All purchasers represented in
writing  that  they acquired the securities for their own accounts. A legend was
placed  on  the  stock  certificates  stating  that the securities have not been
registered  under the Securities Act and cannot be sold or otherwise transferred
without  registration  or  an  exemption  therefrom.


ITEM  3.     DEFAULTS  IN  SENIOR  SECURITIES
     None.


ITEM  4.     SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS
     On  March  15,  2002, our board of directors approved the corporate actions
described below. These corporate actions were approved by the written consent of
the  majority  of  our  shareholders  on  April  23, 2002. The corporate actions
approved  were:

     Amendments  to  the Company's Certificate of Incorporation to: (1) increase
the  number  of authorized shares of the Company's capital stock from 51,000,000
shares to 105,000,000 shares, of which 100,000,000 shares shall be Common Stock,
par  value  $0.001 per share, and 5,000,000 shares shall be preferred stock, par
value  $0.001  per  share;  (2)  reverse  split  the  outstanding  shares of the
Company's  Common Stock on a one-for-sixty basis, so that every sixty issued and
outstanding shares of Common Stock before the split shall represent one share of
Common Stock after the split with all fractional shares equal to or greater than
$.050  rounded  up  to the next whole share and those less than $0.50 eliminated
and  paid  for  in  cash;  and  (3)  change the name of the Company to "EliteJet
Holdings,  Inc.";  and

     The acquisition by the Company of all of the issued and outstanding capital
stock  of  EliteJet,  Inc.,  a  Nevada  corporation.


ITEM  5.     OTHER  INFORMATION
     None.

ITEM  6.     EXHIBITS  AND  REPORTS  ON  FORM  8-K
     (a)     Exhibits:

     (b)     Reports  on  Form  8-K:
     On  May  10,  2002,  we  filed  a  Report  on  Form  8-K  that  reported an
"acquisition  or  disposition  of  assets"  that occurred on April 26, 2002. The
report  describes  our acquisition of all of the outstanding stock of EliteJets,
Inc.  in  exchange  for  7,000,000  shares  of  our  common  stock.

     On  June  11,  2002,  we filed a Report on Form 8-K that reported an "other
event"  that  occurred on June 10, 2002. The report described our discontinuance
of  our  operation  that involved assuring that participating merchants accepted
returns  of  products  purchased  by  consumers  and  businesses.

     On  July  15,  2002,  we filed a Report on Form 8-K which we amended with a
Report  on  Form  8-K/A  dated July 23, 2002. This Report included the financial
statements  of  EliteJet,  Inc.  and pro forma financial statements of EliteJet,
Inc.  and  Return  Assured. These financial statements and pro forma information
related  to the acquisition described in our Report on 8-K that was filed on May
10,  2002.

     No  other  Form  8-K's  were  filed  during  the period represented by this
Quarterly  Report  on  Form  10-QSB.

                                                                        Page 16
<PAGE>
                                   SIGNATURES
     In  accordance with Section 13 or 15(d) of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

     RETURN  ASSURED  INCORPORATED


Dated: August 19, 2002                    By:     /s/  Scott  Walker
                                                  ------------------
                                                  Scott  Walker
                                                  President and Chairman
                                                 (principal  financial officer)


     The undersigned, the Chief Executive Officer and Chief Financial Officer of
the Registrant, certifies that this report complies with all of the requirements
of  section 13(a) and 15(d) of the Exchange Act and the information contained in
this  report  fairly presents, in all material respects, the financial condition
and  results  of  operations  of  the  Registrant.


Date: August 19, 2002                     By:     /s/  Scott  Walker
                                                  ------------------
                                                  Scott  Walker



                                                                        Page 17