UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-QSB

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACTS OF 1934

For the quarterly period ended June 30, 2004

Commission File Number 0-16286

ATLANTIS BUSINESS DEVELOPMENT CORPORATION

(Exact name of registrant as specified in its charter)





|Delaware                        | 95-4082020            
|------------------------------- | ----------------------
|(State or other jurisdiction of | (I.R.S. Employer      
|Incorporation or Organization)  | Identification Number)





54 Broad Street, Suite 200B

Red Bank, NJ 07701

(Address of principal executive offices)



(732) 212-9988

(Registrant's telephone number, including area code)



Medplus Corporation

(Former name, former address, if changed since last report)

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 [ ]

As of June 30, 2004, there were 50,662,300 shares of the registrant's Common
Stock, par value $.001 per share, outstanding.

FORWARD LOOKING STATEMENTS

Some of the information presented in this quarterly report constitutes
forward-looking statements within the meaning of the private Securities
Litigation Reform Act of 1995. Statements that are not historical facts,
including statements about management's expectations for fiscal year 2003 and
beyond, are forward looking statements and involve various risks and
uncertainties. Although the Company believes that its expectations are based on
reasonable assumptions within the bounds of its knowledge, there can be no
assurance that actual results will not differ materially from the Company's
expectations. Factors that could cause the actual results to differ materially
from expectations are discussed in the Company's Annual Report on Form 10-K and
in other filings with the Securities and Exchange Commission.

---



FINANCIAL STATEMENTS































ATLANTIS BUSINESS DEVELOPMENT CORPORATION

(FORMERLY MEDPLUS CORPORATION)

(A DEVELOPMENT STAGE COMPANY)





CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

(UNAUDITED)





THREE MONTHS ENDED JUNE 30, 2004 AND 2003

























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ATLANTIS BUSINESS DEVELOPMENT CORPORATION

(FORMERLY MEDPLUS CORPORATION)

(A DEVELOPMENT STAGE COMPANY)

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

THREE MONTHS ENDED JUNE 30, 2004 AND 2003





INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS











CONDENSED CONSOLIDATED FINANCIAL STATEMENTS





> Balance Sheetas of June 30, 2004 (Unaudited)
> 
> Statements of Operations for the Three Months ended
> June 30, 2004 and 2003 with Cumulative Totals Since
> April 1, 2003 (Unaudited)
> 
> Statements of Cash Flows for the Three Months ended
> June 30, 2004 and 2003 with Cumulative Totals Since
> April 1, 2003 (Unaudited)
> 
> Notes to Condensed Consolidated Financial Statements











---





|ATLANTIS BUSINESS DEVELOPMENT CORPORATION
|-----------------------------------------
|(FORMERLY MEDPLUS CORPORATION)           
|(A DEVELOPMENT STAGE CORPORATION)        
|BALANCE SHEET                            
|JUNE 30, 2004 (UNAUDITED)                



|                                                          |  |   |             |           |           | 2004
|--------------------------------------------------------- |  | - | ----------- | --------- | --------- | ----
|ASSETS                                                    |  |   |             |           |           |     
|Cash and
    cash equivalents                             |  |   | $           | 35,415   
|Investments at cost                                       |  |   |             |           | 42,500   
|Marketable
    securities                                 |  |   |             |           | 72,720   
|Fixed assets - net                                        |  |   |             |           | 203,464  
|Goodwill                                                  |  |   |             |           | 3,770,000
|Deposit                                                   |  |   |             |           | 500      
|                                                          |  |   |             |           |           |     
|Total Assets                                              |  |   |             | $         | 4,124,599
|                                                          |  |   |             |           |           |     
|                                                          |  |   |             |           |           |     
|LIABILITIES AND
    STOCKHOLDERS' EQUITY                  |  |   |            
|Accounts
    payable and accrued expenses                 |  | $ | 63,209     
|Accrued payroll
    taxes                                 |  |   |             |           | 289,783  
|Short-term debt                                           |  |   |             | 150,000  
|                                                          |  |   |             |           |           |     
|Total Liabilities                                         |  |   |             |           | 502,992  
|                                                          |  |   |             |           |           |     
|                                                          |  |   |             |           |           |     
|STOCKHOLDERS'
    EQUITY                                  |  |   |             |          
|Common stock, $.001
    par value, authorized 200,000,000 |  |  
|shares at June 30,
    2004 and 50,662,300                |  |   |            
|shares issued and
    outstanding                         |  |   |             | 50,662   
|Additional paid-in
    capital                            |  |   |             |           | 4,986,254
|Deficit accumulated
    during development stage          |  |   | (1,415,309)
|Total
    Stockholders' Equity                            |  |   |             | 3,621,607
|                                                          |  |   |             |           |           |     
|Total Liabilities
    and Stockholders' Equity            |  | $ | 4,124,599  
|                                                          |  |   |             |           |           |     
|Net Asset (Loss)
    Value Per Share                      |  |   | $           | (0.071)  







The accompanying notes are an integral part of the condenses
consolidated financial statements

---











|ATLANTIS BUSINESS DEVELOPMENT CORPORATION        
|-------------------------------------------------
|(FORMERLY MEDPLUS CORPORATION)                   
|(A DEVELOPMENT STAGE COMPANY)                    
|STATEMENTS OF OPERATIONS(UNAUDITED)              
|FOR THE THREE MONTHS ENDED JUNE 30, 2004 AND 2003
|WITH CUMULATIVE TOTALS SINCE APRIL 1, 2003       

|                                             |                       |  |                       |  | Cumulative           
|-------------------------------------------- | --------------------- |  | --------------------- |  | ---------------------
|                                             |                       |  |                       |  | Totals Since         
|                                             |                       |  |                       |  | April 1, 2003        
|                                             | 2004                  |  | 2003                  |  | (See Note 1)         
|                                             |                       |  |                       |  |                      
|REVENUES                                     | $           127,993   |  | $           -         |  | $             127,993
|                                             |                       |  |                       |  |                      
|COST OF SALES                                | 16,500                |  | -                     |  | 16,500               
|                                             |                       |  |                       |  |                      
|GROSS PROFIT                                 | 111,493               |  | -                     |  | 111,493              
|                                             |                       |  |                       |  |                      
|                                             |                       |  |                       |  |                      
|OPERTAING EXPENSES                           |                       |  |                       |  |                      
|COMPENSATION                                 | 37,364                |  | 12,000                |  | 57,839               
|PROFESSIONAL FEES                            | 743,144               |  | 21,500                |  | 779,174              
|OTHER                                        | -                     |  | 12,041                |  | 32,803               
|GENERAL AND ADMINISTRATIVE
    EXPENSES      | 20,291                |  | -                     |  | 20,291               
|OFFICE RENT AND EXPENSES                     | 4,600                 |  | -                     |  | 21,100               
|TRAVEL AND MEALS EXPENSES                    | 9,863                 |  | -                     |  | 15,329               
|CONTRACT SERVICES                            | -                     |  | -                     |  | 49,435               
|STOCKHOLDER RELATIONS                        | -                     |  | -                     |  | 10,183               
|                                             |                       |  |                       |  |                      
|TOTAL OPERATING EXPENSES                     | 815,262               |  | 45,541                |  | 986,154              
|                                             |                       |  |                       |  |                      
|                                             |                       |  |                       |  |                      
|NET LOSS                                     | $        (703,769)    |  | $           (45,541)  |  | $           (874,661)
|                                             |                       |  |                       |  |                      
|NET CHANGE IN ASSETS FROM
    OPERATIONS     |                       |  |                       |  |                      
|PER BASIC AND DILUTED
    SHARES             | $             (0.025) |  | $             (0.012) |  | -                    
|                                             |                       |  |                       |  |                      
|WEIGHTED AVERAGE NUMBER OF
    COMMON SHARES | 27,906,049            |  | 3,944,718             |  |                      





The accompanying notes are an integral part of the condenses
consolidated financial statements

---







|ATLANTIS BUSINESS DEVELOPMENT CORPORATION        
|-------------------------------------------------
|(FORMERLY MEDPLUS CORPORATION)                   
|( A DEVELOPMENT STAGE CORPORATION)               
|CONDENSED
    STATEMENTS OF CASH FLOWS           
|FOR THE THREE MONTHS ENDED JUNE 30, 2004 AND 2003
|WITH CUMULATIVE TOTALS SINCE APRIL 1, 2003       

|                                                                    |        |                       |   |                       |   | Cumulative        
|------------------------------------------------------------------- | ------ | --------------------- | - | --------------------- | - | ------------------
|                                                                    |        |                       |   |                       |   | Totals Since      
|                                                                    |        |                       |   |                       |   | April 1, 2003     
|                                                                    |        | 2004                  |   | 2003                  |   | (See Note 1)      
|                                                                    |        |                       |   |                       |   |                   
|CASH FLOWS FROM OPERATING
    ACTIVITIES                            |        |                       |   |                       |   |                   
|Net loss                                                            |        | $      
    (703,769) |   | $       
    (45,541) |   | (874,661)         
|                                                                    |        |                       |   |                       |   |                   
|                                                                    |        |                       |   |                       |   |                   
|Adjustments to reconcile
    net loss to net cash                   |        |                       |   |                       |   |                   
|used in operating
    activities:                                   |        |                       |   |                       |   |                   
|                                                                    |        |                       |   |                       |   |                   
|Depreciation                                                        |        | 201                   |   | -                     |   | 536               
|Common stock issued for
    director fees and related expenses      |        | 646,099               |   | -                     |   | 646,099           
|Investment received from sale
    of product                        |        | (72,720)              |   | -                     |   | (72,720)          
|                                                                    |        |                       |   |                       |   |                   
|Changes in assets and
    liabilities:                              |        |                       |   |                       |   |                   
|Other liabilities                                                   |        | -                     |   | -                     |   | 101               
|Other assets                                                        |        | (500)                 |   | -                     |   | (500)             
|Accounts payable and accrued
    expenses                           |        | 16,433                |   | -                     |   | 61,210            
|Accrued payroll taxes                                               |        | 1,850                 |   | -                     |   | 1,850             
|Total Adjustments                                                   |        | 591,363               |   | -                     |   | 636,576           
|Net cash used in operating
    activities                           |        | (112,406)             |   | (45,541)              |   | (238,085)         
|                                                                    |        |                       |   |                       |   |                   
|                                                                    |        |                       |   |                       |   |                   
|CASH FLOWS FROM INVESTING
    ACTIVITIES                            |        |                       |   |                       |   |                   
|Acquisition of property                                             |        | -                     |   | -                     |   | (4,000)           
|Increase in investment                                              |        | (20,000)              |   | -                     |   | (42,500)          
|Net cash used in investing
    activities                           |        | (20,000)              |   | -                     |   | (46,500)          
|                                                                    |        |                       |   |                       |   |                   
|                                                                    |        |                       |   |                       |   |                   
|CASH FLOWS FROM FINANCING
    ACTIVITIES                            |        |                       |   |                       |   |                   
|Short-term debt - advances                                          |        | -                     |   | -                     |   | 105,000           
|Stock issued for cash                                               |        | -                     |   | -                     |   | 65,000            
|Issuance of note                                                    |        | 150,000               |   | 50,000                |   | 150,000           
|Net cash provided by
    financing activity                         |        | 150,000               |   | 50,000                |   | 320,000           
|                                                                    |        |                       |   |                       |   |                   
|                                                                    |        |                       |   |                       |   |                   
|NET INCREASE IN CASH AND
    CASH EQUIVALENTS                       |        | 17,594                |   | 4,459                 |   | 35,415            
|                                                                    |        |                       |   |                       |   |                   
|CASH AND CASH
    EQUIVALENTS - BEGINNING OF PERIOD                 | 17,821 |                       | - |                       | -
|                                                                    |        |                       |   |                       |   |                   
|CASH AND CASH EQUIVALENTS
    - END OF PERIOD                       |        | $           35,415    |   | $             4,459   |   | $           35,415
|                                                                    |        |                       |   |                       |   |                   
|                                                                    |        |                       |   |                       |   |                   
|                                                                    |        |                       |   |                       |   |                   
|SUPPLEMENTAL SCHEDULE OF
    NONCASH ACTIVITY:                      |        |                       |   |                       |   |                   
|                                                                    |        |                       |   |                       |   |                   
|Issuance of common stock for
    director fees and related expenses |        | $         646,099     |   | $           -         |   | $           -     
|                                                                    |        |                       |   |                       |   |                   
|Investment received from sale
    of product                        |        | $           72,720    |   | $           -         |   | $            -    



The accompanying notes are an integral part of the condenses
consolidated financial statements



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ATLANTIS BUSINESS DEVELOPMENT CORPORATION

(FORMERLY MEDPLUS CORPORATION)

(A DEVELOPMENT STAGE COMPANY)

NOTESTO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2004 AND 2003

(UNAUDITED)



NOTE 1- ORGANIZATION



The condensed consolidated unaudited interim financial statements
        included herein have been prepared, without audit, pursuant to the rules
        and regulations of the Securities and Exchange Commission. The condensed
        consolidated financial statements and notes are presented as permitted
        on Form 10-QSB and do not contain information included in the Company's
        annual consolidated statements and notes. 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 or omitted pursuant to such
        rules and regulations, although the Company believes that the
        disclosures are adequate to make the information presented not
        misleading. It is suggested that these condensed consolidated financial
        statements be read in conjunction with the March 31, 2004 audited
        financial statements and the accompanying notes thereto. While
        management believes the procedures followed in preparing these condensed
        consolidated financial statements are reasonable, the accuracy of the
        amounts are in some respects dependent upon the facts that will exist,
        and procedures that will be accomplished by the Company later in the
        year.



These condensed consolidated unaudited financial statements reflect
        all adjustments, including normal recurring adjustments which, in the
        opinion of management, are necessary to present fairly the consolidated
        operations, changes in permanent stockholders equity (deficit), changes
        in temporary equity and cash flows for the periods presented.



The Company was incorporated in the State of Delaware in December
        1986 as Vision Technology International. They changed their name in 1992
        to Medplus Corporation and in August 2003, changed its name to Atlantis
        Business Development Corporation. The Company had operated in the health
        care financing industry. The Company ceased all operations in 1998 and
        has little or no viable operations since that date.



On April 20, 2003, the Company's Board of Directors voted to be
        regulated as a Business Development Company pursuant to Section 54 of
        the Investment Company Act of 1940. The decision to become a Business
        Development Company was made primarily to better reflect the Company's
        anticipated future business and developing relationships. The Company
        does not intend to focus its investments in any one industry; but
        intends to carefully screen any and all candidates that appear to have
        superior investment opportunities.





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ATLANTIS BUSINESS DEVELOPMENT CORPORATION

(FORMERLY MEDPLUS CORPORATION)

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(CONTINUED)

JUNE 30, 2004 AND 2003

(UNAUDITED)



NOTE 1- ORGANIZATION (CONTINUED)

Accordingly, the Company is now a Business Development Company that
        has elected to be regulated pursuant to Section 54 of the Investment
        Company Act of 1940. A Business Development Company is an investment
        company designed to assist eligible portfolio companies with capital
        formation.



With this new designation, the Company has decided to offset their
        existing additional paid-in capital to the deficits that had accumulated
        since inception (December 1986). The net result was that the deficits
        accumulated in the development stage was left with a balance of
        $540,643.



NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

> Development Stage Company

Atlantis Business Development Corporation is a development stage
        company. The Company devotes substantially all of its efforts to seek,
        investigate and, if warranted, invest in other companies.

> Use of Estimates

The preparation of financial statements in conformity with accounting
        principles generally accepted in the United States of America requires
        management to make estimates and assumptions that affect the reported
        amounts of assets and liabilities and disclosure of contingent assets
        and liabilities at the date of the financial statements and the reported
        amounts of revenues and expenses during the reporting period. Actual
        results could differ from those estimates.













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ATLANTIS BUSINESS DEVELOPMENT CORPORATION

(FORMERLY MEDPLUS CORPORATION)

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(CONTINUED)

JUNE 30, 2004 AND 2003

(UNAUDITED)







NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(CONTINUED)

Basis of Presentation



The accompanying condensed consolidated financial statements have
        been prepared on a going concern basis, which contemplates the
        realization of assets and the satisfaction of liabilities in the normal
        course of business. The Company has been inactive since 1998. These
        factors indicate that the Company will be unable to continue as a going
        concern. The condensed consolidated financial statements do not include
        any adjustments relating to the recoverability and classification of
        recorded asset amounts or the amounts and classification of liabilities
        that might be necessary should the Company be unable to continue as a
        going concern. The Company's continuation as a going concern is
        dependent upon its ability to generate sufficient cash to meet its
        obligations on a timely basis, to obtain financing as may be required,
        and ultimately to attain successful operations.



Principles of Consolidation



The condensed consolidated financial statements include the accounts
        of the Company and its wholly-owned subsidiary: E-Direct, Inc. E-Direct,
        Inc. was acquired in June 2004.



Cash and Cash Equivalents



The Company considers all highly liquid debt instruments and other
        short-term investments with an initial maturity of three months or less
        to be cash or cash equivalents.



At June 30, 2004, the Company maintained cash and cash equivalent
        balances at one financial institution which is insured by the Federal
        Deposit Insurance Corporation, whose amounts do not exceed the insured
        limit of $100,000.







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ATLANTIS BUSINESS DEVELOPMENT CORPORATION

(FORMERLY MEDPLUS CORPORATION)

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(CONTINUED)

JUNE 30, 2004 AND 2003

(UNAUDITED)



NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(CONTINUED)

Income Taxes



Deferred income taxes are reported using the liability method.
        Deferred tax assets are recognized for deductible temporary differences
        and deferred tax liabilities are recognized for taxable temporary
        differences. Temporary differences are the differences between the
        reported amounts of assets and liabilities and their tax bases. Deferred
        tax assets are reduced by a valuation allowance when, in the opinion of
        management, it is more likely than not that some portion or all of the
        deferred tax assets will not be realized. Deferred tax assets and
        liabilities are adjusted for the effects of changes in tax laws and
        rates on the date of enactment.



Fair Value of Financial Instruments



The carrying amounts reported in the balance sheet for cash and
        accrued expenses approximate fair value because of the immediate or
        short-term maturity of these financial statements.



Property and Equipment





Furniture and equipment are stated at cost.
        Depreciation is provided using the straight-line method over the
        estimated useful lives of the assets.





Maintenance and repairs are charged to operations
        when incurred. Betterments and renewals are capitalized. When furniture
        and equipment are sold or otherwise disposed of, the asset accounts and
        related accumulated depreciation accounts are relieved, and any gain or
        loss is included in operations.





The useful lives of furniture and equipment for
        purposes of computing depreciation are:

Furniture and equipment 5-7 years





Depreciation expense for June 30, 2004 was $201.



The fixed assets acquired by the company by E-Direct in June 2004
        were not depreciated in June 30, 2004. Those assets are expected to be
        placed into service July 1, 2004.





---



ATLANTIS BUSINESS DEVELOPMENT CORPORATION

(FORMERLY MEDPLUS CORPORATION)

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(CONTINUED)

JUNE 30, 2004 AND 2003

(UNAUDITED)







NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(CONTINUED)





Goodwill and Other Intangible Assets





In June 2001, the Financial Accounting Standards Board ("FASB")
        issued Statements of Financial Accounting Standards ("SFAS") No. 142 "Goodwill
        and Other Intangible Assets". This Statement addresses financial
        accounting and reporting for acquired goodwill and other intangible
        assets and supercedes APB Opinion No. 17, "Intangible Assets". It
        addresses how intangible assets that are acquired individually or with a
        group of other assets (but not those acquired in a business combination)
        should be accounted for in financial statements upon their acquisition.
        SFAS No. 142 also addresses how goodwill and other intangible assets
        should be accounted for after they have been initially recognized in the
        financial statements. SFAS No. 142 has been considered when determining
        impairment of goodwill in certain transactions.



Advertising Costs



The Company's expenses the costs associated with advertising as
        incurred. There were no advertising costs for the three months ended
        June 30, 2004 and 2003, respectively.



Earnings (Loss) Per Share of Common Stock



Historical net income (loss) per common share is computed using the
        weighted average number of common shares outstanding. Diluted earnings
        per shares (EPS) includes additional dilution from common stock
        equivalents, such as stock issuable pursuant to the exercise of stock
        options and warrants. Common stock equivalents were not included in the
        computation of diluted earnings per share when the Company reported a
        loss because to do so would be antidilutive for periods presented.







---





ATLANTIS BUSINESS DEVELOPMENT CORPORATION

(FORMERLY MEDPLUS CORPORATION)

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(CONTINUED)

JUNE 30, 2004 AND 2003

(UNAUDITED)





NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(CONTINUED)



Earnings (Loss) Per Share of Common Stock (Continued)



The following is a reconciliation of the computation for basic and
    diluted EPS:







> Options and warrants outstanding to purchase stock were not included
>         in the computation of diluted EPS for June 30, 2004 and 2003 because
>         inclusion would have been antidilutive. There were no options or
>         warrants outstanding at June 30, 2004 and 2003, respectively.
>         Reclassifications
>         
>         
>         Certain reclassifications have been made to prior year captions in
>         order to conform to current year presentation.

---





ATLANTIS BUSINESS DEVELOPMENT CORPORATION

(FORMERLY MEDPLUS CORPORATION)

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(CONTINUED)

JUNE 30, 2004 AND 2003

(UNAUDITED)







NOTE 3- STOCKHOLDERS' EQUITY

> The Company issued 2,531,780 shares of common stock to an investor
>         for $50,000 on June 25, 2003. The Company on September 19, 2003
>         rescinded this transaction. The transfer agent on October 17, 2003
>         cancelled the stock.
>         
>         The Board of Directors on July 29, 2003 voted to increase the common
>         stock authorized of the Company to 200,000,000 and approved a 1 for 10
>         reverse stock split.
>         
>         The Company issued 20,000,000 shares of stock to convert $203,200 of
>         payables and cancel their deferred compensation and employment contracts
>         that existed from the prior officers and stockholders. The amount
>         retired was agreed upon contractually.
>         
>         The Company issued 1,075,000 shares of stock for cash of $65,000 and
>         the conversion of a note of $105,000 in the fourth quarter of the
>         Company's fiscal year.
>         
>         The Company issued 24,825,00 shares of stock for director fees and
>         other related expenses of $646,099 during acquisition of E-Direct, Inc.
>         and for the purchase of E-Direct, Inc.'s assets valued at $3,970,000.











---

ATLANTIS BUSINESS DEVELOPMENT CORPORATION

(FORMERLY MEDPLUS CORPORATION)

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(CONTINUED)

JUNE 30, 2004 AND 2003

(UNAUDITED)



NOTE 4- PROVISION FOR INCOME TAXES

> The Company did not provide for income taxes in the three months
>         ended June 30, 2004 and 2003. Additionally, the Company established a
>         valuation allowance equal to the full amount of the deferred tax assets
>         due to the uncertainty of the utilization of the operating losses in
>         future periods.

At June 30, 2004 and 2003, the deferred tax assets consists of the
    following:









NOTE 5- SUBSEQUENT EVENTS

> On July 20, 2004, the Company had retained Investor Growth, Inc. to
>         assist with Investment Banking, Business Development, and Investor
>         Relations. Investor Growth, Inc. transitions privately held entities and
>         publicly trading companies into larger publicly traded markets. Investor
>         Growth, Inc. has arranged $300,000 of equity financing and will
>         participate in future financing records.





---

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF

FINANCIAL CONDITION AND RESULTS OF OPERATIONS

LIQUIDITY AND CAPITAL RESOURCES

At June 30, 2004 the Company had working capital of $35,415 compared to
working capital of $4,459 at June 30, 2003. The working capital increase was due
to the Company's increased accounts payable and accrued expenses. The Company's
current liabilities are higher than its assets due primarily to the tax
liability and accounts payable from operations.

The Company's liquidity position is severely strained. Liquidity needs are
currently being met by the issuance of common stock. On April 20, 2003, the
Company's Board of Directors voted to be regulated as a Business Development
Company pursuant to Section 54 of the Investment Company Act of 1940. The
Company's ability to continue operations is dependent upon this business
direction change and it's ability to raise additional equity and/or debt
financing. This and other factors raise substantial doubt as to the Company's
ability to continue as a going concern. Although the Company is actively engaged
in activities with intent to raise equity and/or debt financing in order to meet
its long-term liquidity needs, there can be no assurance that the Company will
be able to consummate the transaction and/or raise the additional financing
necessary for continuing operations.

RESULTS OF OPERATIONS

There was $127,993 in revenue derived from the Company for the three month
period ended June 30, 2004. Similarly there was zero revenue for the three month
period ended June 30, 2003.

There was $815,262 Operational Expenses for operations for the three month
period ended June 30, 2004, compared to $45,541 operation expenses for the three
month period ended June 30, 2003. This increase in operational expense is
attributable to non-cash outlay of director's fees of stock.

There were no Sales and Marketing expenses for market awareness programs for
the three month period ended June 30, 2004.

ITEM 3. Effectiveness of the registrant's disclosure controls and procedures

As of June 30, 2004, the Company carried out an evaluation of the
effectiveness of the Company's disclosure controls and procedures (as defined by
Rule 13a-14(c) under the Securities Exchange Act of 1934) under the supervision
and with the participation of the Company's chief executive officer and chief
financial officer. Based on and as of the date of such evaluation, the
aforementioned officers have concluded that the Company's disclosure controls
and procedures were effective.

The Company also maintains a system of internal accounting controls that is
designed to provide assurance that assets are safeguarded and that transactions
are executed in accordance with management's authorization and properly
recorded. This system is continually reviewed and is augmented by written
policies and procedures, the careful selection and training of qualified
personnel and an internal audit program to monitor its effectiveness. During the
three-month period ended June 30, 2004, there were no significant changes to
this system of internal controls or in other factors that could significantly
affect those controls.

PART II

OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None

ITEM 2. CHANGES IN SECURITIES

---



None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

On May 20, 2004, a majority of the shareholders of the Company approved by
written consent the Company's 2004 Employee Stock Incentive Plan.

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

(a) Exhibits

> 31     Rule 13a-41(a)/15d-14(a) Certificates
> 32     Section 1350 Certifications

(b) Reports on Form 8-K

On May 20, 2004,the Company filed a current report on Form 8-K announcing the
resignation of its President. The Company filed a current report on Form 8-K on
June 21, 2004, announcing the appointment of 2 new Board members.

Signatures

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

ATLANTIS BUSINESS DEVELOPMENT CORPORATION



Date: August 13, 2004



/s/ John Figliolini

John Figliolini

President



Date: August 13, 2004



/s/ Tim DeHerrera

Tim DeHerrera

Treasurer



---





ATLANTIS BUSINESS DEVELOPMENT CORPORATION

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

CERTIFICATION PURSUANT TO RULE 13A-14 AND 15D-14 OF

THE SECURITIES AND EXCHANGE ACT OF 1934

I John Figliolini, President, certify that:

(1) I have reviewed this quarterly report on form 10-QSB of Atlantis Business
Development Corporation (the "registrant");

(2) Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to sate 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 officers 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 officers and I have disclosed, based on
our most recent evaluation, to the registrant's auditors and the audit committee
of registrant's board of directors (or persons performing the equivalent
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 officers 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.

Date: August 13, 2004

/s/ John Figliolini

John Figliolini

President

---







ATLANTIS BUSINESS DEVELOPMENT CORPORATION

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

CERTIFICATION PURSUANT TO RULE 13A-14 AND 15D-14 OF

THE SECURITIES AND EXCHANGE ACT OF 1934

I, Tim DeHerrera, Treasurer, certify that:

(1) I have reviewed this quarterly report on form 10-QSB of Atlantis Business
development Corporation (the "registrant");

(2) Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to sate 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 officers 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 officers and I have disclosed, based on
our most recent evaluation, to the registrant's auditors and the audit committee
of registrant's board of directors (or persons performing the equivalent
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 officers 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.

Date: August 13, 2004

/s/ Tim DeHerrera

Tim DeHerrera

Treasurer



---





CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Atlantis Business Development
Corporation (the "Company") on Form 10-QSB for the quarter ended June 30, 2004,
as filed with the Securities and Exchange Commission on the date hereof (the
"Report"), I John Figliolini, Chief Executive Officer of the Company, certify,
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002, to the best of my knowledge, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d)
of the Securities Exchange Act of 1934, as amended; and

(2) The information contained in the report fairly presents, in all material
respects, the financial condition and results of operations of the Company.

By: /s/ John Figliolin

John Figliolini

President

Dated:     August
13, 2004

---







CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Atlantis Business Development
Corporation (the "Company") on Form 10-QSB for the quarter ended June 30, 2004
as filed with the Securities and Exchange Commission on the date hereof (the
"Report"), I Tim DeHerrera, Treasurer of the Company, certify, pursuant to 18
U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, to the best of my knowledge, that:

(3) The Report fully complies with the requirements of Section 13(a) or 15(d)
of the Securities Exchange Act of 1934, as amended; and

(4) The information contained in the report fairly presents, in all material
respects, the financial condition and results of operations of the Company.



By: /s/ Tim DeHerrera

Tim DeHerrera

Treasurer

Dated:  August 13, 2004