| LASERRECORDING SYSTEMS, INC.                                  |
|---------------------------------------------------------------|
| (Exactname of registrant as specified in its Charter)         |
|                                                          |   |
| NEWJERSEY                                                     | 22-2582847 |
| (Stateor Other Jurisdiction of Incorporation or Organization) | (I.R.S.Employer Identification No.) |
|                                                          |   |
| 1359 New YorkAvenue                                           |   |
| HuntingtonStation, New York                                   | 11746 |
| (Addressof Principal Executive Offices)                       | (ZipCode) |
|                                                          |   |
| (800)786-1352                                                 |
| (Registrant'sTelephone Number, Including Area Code)           |

| LASER RECORDING SYSTEMS, INC.           |
|--------------------------------------------------------|
| BALANCE SHEETSAPRIL 30, 2003 AND JANUARY 31, 2003 |

| CURRENT ASSETS: Cash and Cash Equivalents         Total Current Assets              Total Assets | April 30,2003$           331$           331$           331 | January 31,2003$           1,566$           1,566$           1,566 |
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| LIABILITIES:AccruedExpenses     Total CurrentLiabilitiesLoans Payable - Stockholder  Total LiabilitiesSTOCKHOLDERS’ EQUITY:Common Stocks – 10,000,000 shares authorized, 10,000,000 issued and outstandingPaid in CapitalRetained Earnings(accumulateddeficit)              Total Stockholders’ EquityTotal Liabilities and Stockholders’ Equity | -                  -$      30,000$      30,000 $   7,408,9101,400(7,439,979)$  (29,669)$          331 | $            500              500$        30,000$        30,500 $   7,408,9101,400(7,439,244)$  (28,934)$          1,566 |
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| LASER RECORDING SYSTEMS, INC.                                        |
|-------------------------------------------------------------------------------------|
| STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS |
| FOR THE THREEMONTHS ENDED APRIL 30                                                  |

| Revenues: Interest Income       Total RevenuesExpenses: Administrative Expenses Taxes       Total ExpensesNet Loss | 2003$            -0-$           -0-$          673 $           62  $          735 $        (735) | 2002$            -0-$           -0-$       2,468 $            50 $       2,518 $     (2,518) |
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| LASER RECORDING SYSTEMS, INC.    |
|-------------------------------------------------|
| STATEMENT OF CASH FLOWS          |
| For the Three  Months Ended |
| April30                                         |

| Cash flows from operating activities:  Net LossCash flows from financing activities: Accrued Expenses Maintaining the Corporate EntityNet cash provided by (used in) financing activitiesIncrease (Decrease) in CashCash – Beginning of PeriodCash – End of Period | 2003$            -0-$         (500)          (735)$   (1,235)$   (1,235)$       1,566$         331 | 2002$            -0-(791)       (2,518)$   (3,309)$   (3,309)$       4,254$         945 |
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| Date: June 13, 2003 | /s/ CarlLanzisera                                 |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                     | Carl Lanzisera                                                                                                                                                                                                    |
|                     | Chief Executive Officer and Chief FinancialOfficer                                                                                                                                                                |