U.S. SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549

                                  Form 10-QSB

(Mark One)

[x] Quarterly Report under Section 13 or 15(d) of the Securities Exchange Act
of 1934

                 For the quarterly period ended September 30, 2003
-----------------------------------------------------------------------------

[ ]  Transition Report under Section 13 or 15(d)of the Exchange Act For the
     Transition Period from ________  to  ___________
-----------------------------------------------------------------------------

                         Commission File Number: 0-29087
-----------------------------------------------------------------------------

                                  NUTEK, INC.
-----------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)


             Nevada                               87-0374623
 -------------------------------   ---------------------------------------
 (State or other jurisdiction of   (I.R.S. Employer Identification Number)
  incorporation or organization)


   6330 McLeod Drive, Suite 1, Las Vegas, NV            89120
 ------------------------------------------------    -------------
    (Address of principal executive offices)          (zip code)


             702-262-2061 (Telephone)     702-262-0033 (Fax)
        ---------------------------------------------------------
                        Issuer's Telephone Number


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

Check  whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d)  of  the  Exchange  Act  of 1934 during the past 12 months (or 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 [ ]

               APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                    PROCEEDING DURING THE PRECEDING FIVE YEARS

Check whether the Registrant filed all documents  and  reports  required  to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution  of
securities under a plan confirmed by a court.

                                                              Yes [ ] No [ ]

                   APPLICABLE ONLY TO CORPORATE ISSUERS

                                        1



The  Registrant  has  95,889,245  outstanding,  par value $.001 per share as of
September  30,  2003.   The Registrant has 524,508 shares  of  Preferred  Stock
Series A issued and outstanding  and 508,500 shares of Preferred Stock Series B
issued and outstanding as of September 30, 2003.

Traditional Small Business Disclosure Format (check one) Yes [  ] No [X]


                                       2



PART I.  FINANCIAL INFORMATION

Item 1.   Financial Statements.................................     4
          Balance Sheet (unaudited)............................   5-6
          Statements of Operations (unaudited).................     7
          Statements of Cash Flows (unaudited).................     8
          Notes to Financial Statements........................  9-14

Item 2.  Management's Discussion and Analysis of Plan
           of Operation........................................    15

Item 3. Controls and Procedures................................    16




PART II. OTHER INFORMATION

Item 1.   Legal Proceedings....................................    17

Item 2.   Changes in Securities and Use of Proceeds............    17

Item 3.   Defaults upon Senior Securities......................    17

Item 4.   Submission of Matters to a Vote
           of Security Holders.................................    17

Item 5.   Other Information.....................................   17

Item 6.   Exhibits and Reports on Form 8-K......................   17

Signatures......................................................   24


                                      3


                     PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS AND EXHIBITS

The unaudited financial statements  of  registrant  for  the three months ended
September 30, 2003, follow.  As prescribed by item 310 of  Regulation  S-B, the
independent  auditor  has reviewed these unaudited interim financial statements
of the registrant for the  nine months ended September 30, 2003.  The financial
statements reflect all adjustments,  which  are,  in the opinion of management,
necessary to a fair statement of the results for the interim period presented.

                                         4



To the Board of Directors of
Nutek, Inc.
Las Vegas, Nevada


We  have  reviewed  the  accompanying  balance  sheet  of Nutek, Inc. (a Nevada
corporation)  as  of September 30, 2003 and the related statements  of  income,
changes in stockholders'  equity  and  cash flows for the three months and nine
months then ended, in accordance with Statements  on  Standards  for Accounting
and  Review  Services  issued  by  the  American Institute of Certified  Public
Accountants.  All information included in  these  financial  statements  is the
representation of the management of Nutek, Inc.

A  review consists principally of inquiries of Company personnel and analytical
procedures  applied  to financial data.  It is substantially less in scope than
an  audit  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 review, we are not aware of any material modifications that should
be made to the accompanying financial statements  in  order  for  them to be in
conformity with generally accepted accounting principles.


Gary V. Campbell, CPA, Ltd.

November 11, 2003
Las Vegas, Nevada



				       NUTEK INC.
				     BALANCE SHEETS
			  AS OF SEPTEMBER 30, 2003 AND DECEMBER 31, 2002


<TABLE>
<CAPTION>

<S> <C>                                             <C>           <C> <C>
                    ASSETS

                                             September 30, 2003  December 31, 2002
Current Assets:
  Cash                                            $  110,493          $44,371
  Accounts receivable                              1,343,585        1,567,277
  Inventory                                          228,629          222,890
  Accrued income                                      11,200           11,200
  Prepaid expenses                                   260,620          119,408
  Note receivable, related party                     521,049          753,206
  Current portion of notes receivable                 10,148            7,500
						  ----------	   ----------
     Total current assets                         $2,485,724       $2,725,852

Property and Equipment, net of
    accumulated depreciation                       2,834,691        2,948,032

Other Assets:
  Line of credit fee, net of amortization                475                -
  Trade show booths, net of amortization                   -            5,304
  Note receivable, net of current portion                  -            5,800
  Deposits                                           274,034           30,284
  Patent rights acquired, net of amortization        561,262          561,262
  Long-term investment                                 8,000            8,000
  Website assets, net of amortization                 29,340           19,654
  Customer lists, net of amortization                 44,583           43,583
  Patterns/designs, net of amortization               43,611           44,488
  Packaging design/artwork, net of amortization       86,513           69,687
  Goodwill                                         1,692,782        1,692,782
  Trademarks                                           8,000            8,000
  Licensing fees                                      50,000           50,000
						  ----------	   ----------
     Total other assets                            2,798,600        2,538,844

Total Assets                                      $8,119,015       $8,212,728
						  ==========	   ==========
</TABLE>

<TABLE>
<CAPTION>

<S> <C>                                                        <C>           <C> <C>
           LIABILITIES AND STOCKHOLDERS' EQUITY

                                                        September 30, 2003 December 31, 2002
Current Liabilities:
  Accounts payable                                           $   87,234         $591,723
  Accrued expenses                                              283,117          153,233
  Line of credit                                                374,776          373,800
  Notes payable, related party                                  233,950          170,000
  Current portion of long-term notes payable                     91,035          123,418
							     ----------       ----------
     Total current liabilities                               $1,070,112       $1,412,174

Long-Term Debt:
  Long-term notes payable, net of current portion                27,644           58,173
  Bonds payable                                                       -          170,411
							     ----------       ----------
     Total long-term debt                                        27,644          228,584

Total Liabilities                                             1,097,756        1,640,758
							     ----------       ----------

Stockholders' Equity:
  Common stock:
    Common stock, $0.001 par value, 200,000,000
    shares authorized; 96,847,578 shares issued,
    95,889,245 outstanding at Sept. 30, 2003                     96,848           88,974
  Preferred stock Series A:
    Preferred stock, $0.001 par value, 10,000,000
    shares authorized; 524,508 Series A shares
    issued and outstanding at Sept. 30, 2003                        525              560
  Preferred stock Series B:
    Preferred stock, $0.001 par value, 10,000,000
    shares authorized; 508,500 Series B shares
    issued and outstanding at Sept. 30, 2003                        509              509
  Additional paid-in capital-common stock                     7,915,339        7,555,559
  Additional paid-in capital-preferred Series A               2,671,166        3,021,132
  Additional paid-in capital-preferred Series B                 507,992          507,991
  Noncontrolling interest in subsidiary of Nutek Oil, Inc.      369,646          355,782
  Subscriptions receivable                                    (153,750)        (153,750)
  Treasury stock, at cost; 958,333 shares at Sept.30, 2003    (134,388)        (134,388)
  Accumulated Deficit                                       (4,252,628)      (4,670,399)
							     ----------       ----------
     Total stockholders' equity                               7,021,259        6,571,970

Total Liabilities and Stockholders' Equity                   $8,119,015       $8,212,728
							     ==========       ==========



</TABLE>

				       		 NUTEK INC.
					     STATEMENT OF INCOME
		   		    FOR THE THREE MONTHS AND NINE MONTHS
				      ENDED SEPTEMBER 30, 2003 AND 2002


<TABLE>
<CAPTION>

<S> <C>                                       <C>            <C> <C>            <C> <C>

                                         3 Months Ended 3 Months Ended 9 Months Ended  9 Months Ended
                                         Sept. 30, 2003  Sept. 30, 2002  Sept. 30, 2003 Sept. 30, 2002

Revenue                                      $1,712,748     1,880,388     5,213,830     4,946,567

Cost of Goods Sold                              992,334       780,036     2,877,824     2,117,801
					      ---------	    ---------	  ---------	---------
Gross Profit                                    720,414     1,100,352     2,336,006     2,828,766

Expenses:
  Selling, general and administrative           627,912       886,892     1,827,849     2,116,897
  Depreciation                                   64,554        56,005       193,274       161,457
  Amortization                                        -        10,984             -        33,846
					      ---------	    ---------	  ---------	---------
     Total expenses                             692,466       953,881     2,021,123     2,312,200

Operating Income                                 27,948       146,471       314,883       516,566

Other Income (Expense):
  Interest income                                   450             -         1,633             -
  Forgiveness of debt                           (39,381)            -            93             -
  Other income                                      671             -             -             -
  Interest expense                              (23,289)     (30,344)       (60,558)      (59,108)
  Other income                                  153,487         6,856       159,487        42,213
  Minority interest, Nutek Oil, Inc.              2,784             -         2,233             -
					      ---------	    ---------	  ---------	---------
     Total other income (expense)                94,722      (23,488)       102,888       (16,895)

Net Ordinary Income                            $122,670      $122,983      $417,771      $499,671


Basic weighted average number of  common
  shares outstanding                         95,656,175    86,217,819    92,369,448    79,137,430

Diluted weighted average number of common
  shares outstanding                        148,106,975   146,367,119   144,820,248   139,286,730

Basic Net Income Per Share                       $0.001        $0.001        $0.005        $0.006

Diluted Net Income Per Share                     $0.001        $0.001        $0.003        $0.004
</TABLE>

				       NUTEK INC.
				STATEMENT OF CASH FLOWS
			FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2003 AND 2002


<TABLE>
<CAPTION>

<S>           <C>                                           <C> <C>

                                                          3 Months Ended
                                                          Sept. 30, 2003

    Cash Flows From Operating Activities:
         Net income                                           $122,670
       Adjustments to reconcile net income to net
         cash provided by operating activities:
           Depreciation Expense                                 64,554
           Amortization Expense                                      -
           Increase (Decrease) non-controlling
            interest in subsidiary                              (2,784)
           Increase in accounts receivable                     258,090
           Increase in inventory                                (3,081)
           (Increase) Decrease in line of credit fees              475
           (Increase) Decrease in prepaid expenses              14,942
           Increase in deposits                               (227,250)
           Decrease in accounts payable                        (70,228)
           Increase in accrued expenses                         29,104
							     ----------
            Net cash used by operating activities              186,492

     Cash Flows From Investing Activities:
           (Increase) Decrease on notes receivable             133,123
           (Increase) Decrease in property and equipment       (13,705)
           (Increase) / Decrease in other assets                     -
           Purchase of intangible assets                        (3,662)
							     ----------
            Net cash provided by investing activities          115,756

     Cash Flows From Financing Activities:
           Increase (Decrease) in notes payable                  1,546
           Increase (Decrease) in notes payable               (225,134)
	   Repurchase of non-controlling interest		16,098
           Issuance of stock                                   186,704
           Increase (Decrease) in Treasury Stock                     -
	   Increase (Decrease) in Preferred Stock	      (350,000)
           Proceeds from line of credit                              -
							     ----------
            Net cash provided by financing activities         (370,786)


         Net Increase in Cash                                  (68,538)

         Balance, Beginning                                    179,031

         Balance, Ending                                     $ 110,493

         Interest Paid                                       $  23,289

         Taxes Paid                                          $       -



</TABLE>



<PAGE>
                                  NUTEK, INC.

                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


 NOTE 1 - HISTORY AND ORGANIZATION OF THE COMPANY

   Nutek, Inc. was incorporated in August 1991 under the laws of the  State  of
   Nevada as Nutek, Inc. (the "Company") and is engaged in multiple industries.

   SRC  International, Inc. was incorporated on June 20, 1997 in Illinois.  SRC
   International,  Inc.  manufactures  "Super  Glide,"  a rail covering made of
   extremely  durable,  super-slick  space  age  polymer,  designed  to  reduce
   friction  between  the  rails  and hangers in the dry cleaning  and  garment
   industries.

   Century Clocks, Inc. is a Nevada  corporation  formed  by Nutek, Inc. and is
   doing business in Nevada.  The company produces wall clocks.

   Kristi & Co., a Nevada corporation, was incorporated on  September 13, 1999.
   The company purchased clothing designs and design groups on January 6, 2000.

   Nutek Oil, Inc. was incorporated on December 3, 1998.  The company is in the
   oil  producing  business  and  purchased  selected equipment and  assets  on
   February 23, 2000 from Clipper Operating Company.   During  2001, Nutek Oil,
   Inc. began operations as a separate company.

   Datascension,  Inc. and related assets were purchased on July  2,  2001  for
   $2,200,000 using  company  shares at fair market value.  Datascensions, Inc.
   is a premier data solutions  company  representing a unique expertise in the
   collecting, storage, processing, and interpretation  of  data.  During 2002,
   Datascensions,  Inc.  expanded  operations  into  Costa Rica purchasing  Sin
   Fronteras, Inc.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

   BASIS OF ACCOUNTING
   The Company's policy is to prepare the financial statements  on  the accrual
   basis of accounting.  The fiscal year end is December 31.

   CASH AND CASH EQUIVALENTS
   Cash  and  cash  equivalents  consist  of  highly  liquid  investments  with
   maturities of three months or less when purchased.

   INVESTMENTS AND MARKETABLE SECURITIES
   The  Company  has adopted FASB No. 115.  Equity securities are classified as
   available for sale and reported at fair value.

   Investments are  recorded at the lower of cost or market.  Any reductions in
   market value below  cost  are shown as unrealized losses in the consolidated
   statement of operations.



                                                                              #

<PAGE>
                                   NUTEK, INC.

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)


NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

   CONSOLIDATION POLICY
   The accompanying consolidated  financial  statements include the accounts of
   Nutek, Inc. and its different business segments:   SRC  International, Inc.,
   Century Clocks, Inc., Kristi & Co., Datascensions, Inc., and Nutek Oil, Inc.
   All   significant   inter-company   balances  and  transactions  have   been
   eliminated.

   INVENTORY VALUATION
   Inventories are stated at the lower of cost or market, cost being determined
   on the first in, first out (FIFO) basis.

   USE OF ESTIMATES
   The  preparation  of  financial  statements  in  conformity  with  generally
   accepted accounting principles requires  that  management make estimates and
   assumptions which affect the reported amounts of  assets  and liabilities as
   of  the date of the financial statements and revenues and expenses  for  the
   period reported.  Actual results may differ from these estimates.

   COMPREHENSIVE INCOME
   Statements   of   Financial   Accounting   Standards   No.   130,  Reporting
   Comprehensive Income (SFAS 130), requires that total comprehensive income be
   reported in the financial statements.  The Company does not have  any  items
   considered  to  be  other  comprehensive  income  for  the nine months ended
   September 30, 2003.

   FIXED ASSETS
   Fixed assets are stated at cost.  Expenditures that materially  increase the
   life  of  the assets are capitalized.  Ordinary maintenance and repairs  are
   charged to  expense as incurred.  When assets are sold or otherwise disposed
   of, the cost  and  the related accumulated depreciation and amortization are
   removed from the accounts  and  any  resulting gain or loss is recognized at
   that time.

   Depreciation is computed primarily on the straight-line method for financial
   statement purposes over the following estimated useful lives:

                        Computer equipment            5 years
                        Drilling equipment           20 years
                        Factory equipment             7 years
                        Furniture and fixtures        7 years
                        Office equipment              5 years
                        Equipment and machinery      20 years
                        Molds and tooling            20 years

   All assets are booked at historical purchase  price and there is no variance
   between book value and the purchase price.



                                                                              #

<PAGE>
                                   NUTEK, INC.

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)


NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

   INTANGIBLE ASSETS
   The  Company  has  adopted  SFAS  No. 142, "Goodwill  and  Other  Intangible
   Assets", which requires that goodwill  and other indefinite lived intangible
   assets are no longer amortized, but reviewed  annually,  or sooner if deemed
   necessary, for impairment.  Under guidance from SFAS No. 142, management has
   determined  that  as the major intangible asset, the value of  the  electric
   light switch, purchased  late  in  1999, has not significantly decreased and
   there has been no reduction in the usefulness  of  the asset as of September
   30, 2003.

   The following intangible assets have also been assessed  under guidance from
   SFAS No. 142, and concluded that they have not significantly  decreased  and
   there  has been no reduction in the usefulness of the assets as of September
   30, 2003:  clothing patterns and designs, artwork, customer lists, packaging
   designs, patents, and trademarks.

   NET INCOME PER SHARE
   Basic net  income per share is computed using the weighted average number of
   shares of common  stock  outstanding  for  the  period  end.  The net income
   (loss)  for  the  period  end is divided by the weighted average  number  of
   shares outstanding for that period to arrive at net income per share.

   Diluted net income per share  reflects  the  potential   dilution that could
   occur  if  the  securities  or  other contracts to issue common  stock  were
   exercised or converted into common stock.

   COMPENSATED ABSENCES
   The Company has made no accrual for vacation or sick pay because the Company
   does not provide for these benefits.

   ADVERTISING
   Advertising costs are expensed when  incurred.   Advertising  for  the three
   months  and  nine  months ended September 30, 2003 amounted to $304 and  $6,
   respectively.

   DEPLETION
   Oil well leases are  depleted  over  the  units  of production, or 12 years,
   whichever is shorter.

   RESEARCH AND DEVELOPMENT
   The Company expenses its research and development in the periods incurred.



NOTE 3 - PROPERTY AND EQUIPMENT

   Property  and equipment are made up of the following  as  of  September  30,
2003:

      Drilling equipment                        $     138,220
      Factory equipment                                 1,381
      Equipment and machinery                       1,780,955
      Molds and tooling                               758,065
      Office equipment                                401,629
      Trade show booths                                 6,150
      Leasehold improvements                          544,431
      Accumulated depreciation                       (796,140)
						--------------
                                                $   2,834,691
						==============

NOTE 4 - STOCKHOLDERS' EQUITY

   During 2003, the Company sold 3,138,889 shares of common stock for $117,000.

   The Company also issued 3,113,257 shares of common stock for services during
   the nine months ended September 30, 2003.

   The Company  also  issued  1,621,522  shares of common stock for outstanding
   bonds during the nine months ended September 30, 2003.

   The Company returned 35,000 shares of preferred  stock Series A as guarantee
   for a debt during the nine months ended September 30, 2003.

NOTE 5 - LONG-TERM NOTE PAYABLE

   The Company has entered into agreements for long-term notes payable.  Long-
   term notes payable consists of the following at September 30, 2003:

   Note payable to a vendor; no specific repayment terms,
   interest at 12% annually through February 2004.
   The loan is secured by stock in Nutek Oil, Inc.         $       53,088

   Note payable to a vendor, no specific repayments terms
   and no stated interest rate.  Secured by assets.                40,000

   Note payable to a vendor, monthly payments of $348
   inclusive of 7% annual interest through September 2006,
   secured by equipment.                                           10,591

   Note payable to a vendor, monthly payments of $906,
   inclusive of 12% annual interest through February 2006.
   Secured by equipment.                                           15,000
                                                                  118,679
   Less current portion                                           (91,035)
							   ---------------
                                                           $       27,644
							   ===============



                                                                              #

<PAGE>
                                   NUTEK, INC.

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)


NOTE 5 - LONG-TERM NOTE PAYABLE (CONTINUED)

   Principal maturities are as follows:
         Twelve months ended September 30,
         2004                                  $       91,035
         2005                                          23,546
         2006                                           4,098
         2007                                              -
					       --------------
                                               $      118,679

NOTE 6 - INCOME TAXES

   Deferred income taxes result from timing differences  in  the recognition of
   expense for tax and financial statement purposes.  Statements  of  Financial
   Accounting  Standards  No.  109  "Accounting  for  Income Taxes", (SFAS 109)
   requires deferred tax liabilities or assets at the end  of each period to be
   determined  using  the  tax  rate  expected to be in effect when  taxes  are
   actually paid or recovered.  The sources of those timing differences and the
   current tax effect of each were as follows:
                                              3 MONTHS          9 MONTHS
                                                ENDED             ENDED
                                           SEPT. 30, 2003   SEPT. 30, 2003

         Depreciation and amortization     $     29,138      $     76,219
         Net operating loss carryforward         12,569            65,822
         Valuation allowance                    (41,707)         (142,041)
					   ------------	     ------------
                                           $          -      $         -

   The components of the net deferred tax  asset  at  September  30, 2003 under
   SFAS 109 are as follows:

         Depreciation and amortization                 $   (939,861)
         Net operating loss carryforward                  1,028,054
         Valuation allowance                                (88,193)
						       -------------
                                                       $          -

   Reconciliations  between  the actual tax expense and the amount computed  by
   applying the U.S. Federal Income  Tax  rate  to  income  before taxes are as
   follows:

                         3 MONTHS   PERCENT OF    9 MONTHS      PERCENT OF
                           ENDED      PRETAX        ENDED        PRETAX
                      SEPT. 30, 2003  INCOME    SEPT. 30, 2003   INCOME
   Expected             $ 41,707       34%        $ 142,041        34%
   Valuation allowance   (41,707)     (34%)        (142,041)      (34%)
			---------     -----	  ----------	  -----
   Actual expense       $      -        0%        $       -         0%



                                                                              #

<PAGE>
                                   NUTEK, INC.

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)


NOTE 7 - LINE OF CREDIT

   The  Company  has  a  line of credit agreement with a financial  institution
   which provides maximum  borrowing  of  $375,000.   Interest  on  outstanding
   balances  accrues  at  7%  and is payable monthly.  The line has no specific
   expiration date and is secured  by  assets  of  Murray  Conradie  and  Scott
   Kincer.

NOTE 8 - RELATED PARTY TRANSACTIONS

   The Company holds a note payable to a shareholder, in the amount of $45,000.
   This  agreement  has  no  specific repayment terms, and 3% interest annually
   through June 2004.  This loan is unsecured.

   The Company holds a note payable to a shareholder, in the amount of $55,000.
   This agreement has no specific  repayment  terms, no annual interest, and no
   defined maturity date.  This loan is unsecured.

   The Company holds a note payable to a shareholder, in the amount of $50,000.
   This agreement has no specific repayment terms,  and  10%  interest annually
   through June 2004.  This loan is unsecured.

   The Company holds a note payable to a shareholder in the amount  of $20,000.
   This  agreement  has  no specific repayment terms, and 10% interest annually
   through June 2006.  This loan is unsecured.

   The Company holds an outstanding note payable to a shareholder in the amount
   of $50,000.  This payable  accrues  interest at 10% annually through January
   2004.  All principal and interest is due in full on January 24, 2004.

   The Company has an outstanding note payable to Murray Conradie in the amount
   of  $1,950.   This  payable has no stated  interest  rate  and  no  specific
   repayment terms.

   The Company has an outstanding note payable to Scott Kincer in the amount of
   $12,000.  This payable  accrues  interest at 1% monthly due on the first day
   of each month.

   The Company has an outstanding receivable  from  a shareholder in the amount
   of  $3,250.  This receivable has no stated interest  rate  and  no  specific
   repayment terms.

   The Company has an outstanding receivable from a shareholder, related to the
   purchase of Sin Fronteras, Inc.,  Sin Fronteras, Inc., a shareholder, in the
   amount of $517,799.  This receivable has no stated interest rate due in full
   on or before April 30, 2004.





<PAGE>
                                   NUTEK, INC.

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)


NOTE 9 - CONTINGENCIES AND COMMITMENTS

   SUBSCRIPTIONS RECEIVABLE
   The Company  has  received  common  stock  subscriptions  in  the  amount of
   $153,750.  The Company reported this as part of a shareholder's equity.

   LEASES
   The  Company is committed under several non-cancelable lease agreements  for
   office space with various termination dates through 2011.

   At September 30, 2003, aggregate future minimum payments under these leases,
   are as follows:

        Twelve months ended September 30,
        2004                                             $   181,223
        2005                                                 174,509
        2006                                                 177,989
        2007                                                 104,693
        2008                                                 105,917
        Thereafter                                           255,100
							 -------------
        Total minimum lease payments                     $   999,431

NOTE 10 - ACQUISITIONS

   All assets  are booked at historical purchase price and there is no variance
   between book value and the purchase price.

   Patent rights  for  an  electro static light switch were acquired August 27,
   1999, for the fair market  price  of  $1,000,000  from  a non-related party.
   Payment was made by issuing 600,000 shares of restricted common stock valued
   at $.30 per share.

   Another $150,000 was to be paid in cash with the balance  of  $670,000 to be
   paid by increasing the royalty payment from seven to ten percent  until  the
   balance  is  paid  off.   After  numerous  delays  by  the  inventor  of the
   Electrostatic Light Switch Patent Number 5833350 to provide Nutek, Inc.  the
   information,   continuation   patents,  and  schematics  which  Nutek,  Inc.
   purchased,  Nutek,  Inc. acquired  world  wide  rights  to  a  significantly
   enhanced patent and returned the rights to Electro Static Solutions, LLC for
   Patent Number 5833350.

   NUTEK OIL, INC.
   Some of the assets and leases of the Clipper Operating Company were acquired
   on February 23, 2000  with  2,064,348  shares  of  Nutek,  Inc. stock at the
   current market price of $.31 representing $639,948; a note for  $639,948 was
   issued  for  the  balance  of  the  purchase  price.  The purchase price  of
   $1,279,896 was made up of mineral acreage for $454,959;  equipment at market
   value $788,217, and gas pipeline at market value $36,720.



                                                                              #

<PAGE>
                                   NUTEK, INC.

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)


NOTE 10 - ACQUISITIONS (CONTINUED)

   SRC INTERNATIONAL, INC.
   This company was acquired for 1,000,000 shares of the company's common stock
   for  all the outstanding stock of SRC International, Inc. in  a  transaction
   consummated on April 1, 1998.

   SRC International,  Inc. manufactures "Super Glide," a rail covering made of
   an extremely durable,  super-slick,  space  age  polymer  designed to reduce
   friction  between  rails  and  hangers  in  the  dry  cleaning  and  garment
   industries.   The  business  combination  has  been accounted for under  the
   pooling of interest method.

   CENTURY CLOCKS, INC.
   This company was incorporated in Nevada on January  15,  1999 by Nutek, Inc.
   On April 30, 1999, clock molds valued at $257,800 were acquired.   Shares in
   the  amount  of 1,315,000 with a fair market value of $.12 totaling $157,800
   plus notes payable  in  the amount of $100,000 was given in exchange for the
   clock molds.

   KRISTI & CO.
   This  company was acquired  January  6,  2000  for  250,000  shares  of  the
   Company's  stock  in  exchange  for the outstanding common stock of Kristi &
   Co., and a note payable in the amount of $50,000 which has been paid in full
   as of September 30, 2003.  Kristi  &  Co.  has the rights to certain women's
   resort  wear  clothing  designs  and  design  groups.    Kristi  &  Co.  was
   incorporated September 13, 1999.

   Kristi & Co. reported the rights and assets purchased from  Kristi  Hough at
   their  historical  cost of zero in a manner similar to a pooling of interest
   due to the common control  of  management,  per APB Opinion 16.  When Nutek,
   Inc. purchased Kristi & Co., the acquisition  was  booked  at  the estimated
   fair  market value of those rights and assets which Kristi owned  under  the
   purchase  method of accounting for business combinations per APB 16 as there
   was not a common  control  issue  for  this transaction.  Accordingly, these
   designs and client lists were restated at their estimated fair market values
   per the best judgment of management.

   Management  based  its evaluation on the fact  that  these  customer  lists,
   designs, and patterns  had previously generated revenues of approximately 18
   months.  Nutek, Inc. estimated  the customer list at $50,000 and the designs
   and patterns at $50,000.

   Current  sales and cash flows of Kristi  &  Co.'s  line  indicate  that  the
   valuation  was  accurate.  The Company anticipates selling these items since
   Kristi & Co. is no longer in business.

   DATASCENSIONS, INC.
   This company was  acquired  on  July 2, 2001 for $2,000,000 of Nutek, Inc.'s
   restricted common stock in exchange  for  the  outstanding  common  stock of
   Datascensions, Inc.  There were 27,500,000 shares issued.



                                                                              #

<PAGE>
                                   NUTEK, INC.

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)


NOTE 10 - ACQUISITIONS (CONTINUED)

   DATASCENSIONS, INC. (CONTINUED)

   Of  this  amount,  20,911,111  has  been  converted to 209,111 shares of the
   Series A preferred stock.  Datascensions, Inc.  is a premiere data solutions
   company  representing unique expertise in collection,  storage,  processing,
   and interpretation of data.

   Sin Fronteras, Inc., a Costa Rican company, was acquired on May 13, 2002 for
   13,517,241  shares  of  Nutek,  Inc.'s  common  stock  in  exchange  for the
   outstanding common stock of Sin Fronteras, Inc. at the fair market value  of
   the  average  trading price of Nutek, Inc.'s stock for the five trading days
   prior to May 13,  2002  at  the price of $0.0725.  This acquisition entitled
   Nutek, Inc. to assume $750,000 of note receivable due to Sin Fronteras, Inc.
   No other assets or liabilities  were assumed.  The transaction was accounted
   for by the purchase method of accounting for business combinations.

NOTE 11 - WARRANTS AND OPTIONS

   The Company does not currently have  any  stock options issued.  The Company
   has adopted FASB No. 123 and will account for  stock issued for services and
   stock options under the fair value method.

NOTE 12 - MINORITY INTEREST IN SUBSIDIARIES

   The Company has accounted for minority interest  in  Nutek  Oil, Inc. in the
   amount  of  $(2,233)  for  the  nine months ended September 30, 2003.   This
   amount represents the 22.1% interest owned by various individuals other then
   Nutek, Inc.






Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATIONS

The following is a discussion of certain factors affecting Registrant's results
of operations, liquidity and capital resources. You  should  read the following
discussion  and  analysis  in  conjunction  with  the Registrant's consolidated
financial statements and related notes that are included  herein  under  Item 1
above.

CAUTIONARY STATEMENTS FOR PURPOSES OF THE SAFE HARBOR PROVISIONS OF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995.

The  statements contained in the section captioned Management's Discussion  and
Analysis  of Financial Condition and Results of Operations which are historical
are "forward-looking  statements"  within  the  meaning  of  Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities  Exchange
Act  of  1934,  as  amended.  These  forward-looking  statements  represent the
Registrant's  present  expectations  or  beliefs concerning future events.  The
Registrant  cautions that such forward-looking  statements  involve  known  and
unknown risks,  uncertainties  and  other  factors  which  may cause the actual
results,  performance  or  achievements  of  the  Registrant  to be  materially
different  from  any future results, performance or achievements  expressed  or
implied by such forward-looking  statements.  Such factors include, among other
things,  the  uncertainty  as  to the Registrant's  future  profitability;  the
uncertainty as to the demand for  Registrant's services; increasing competition
in the markets that Registrant conducts  business;  the Registrant's ability to
hire, train and retain sufficient qualified personnel; the Registrant's ability
to obtain financing on acceptable terms to finance its growth strategy; and the
Registrant's ability to develop and implement operational and financial systems
to manage its growth.

1) Plan of Operation

The  Company  is  engaged  in  multiple  business activities,  which  currently
include:

(A) Datascension Inc., which conducts telephone  market  research  and provides
data entry services for third parties;
(B) Nutek Oil Inc, which owns the rights to oil leases in Texas;
(C)  Kristi  & Co., Inc., which designs, manufactures and sells woman's  resort
wear clothing;
(D) Century Innovations Inc., which produces plastic wall clocks;
(E) SRC International Inc., which produces plastic coverings for metal rails;
(F) Other consumer/industrial products which include: a patented safety product
that replaces  standard  light  switch  cover plates that automatically provide
illumination in the event of a power failure;  and  a  patented  plastic buffet
plate that allows the user to hold both a plate and cup in one hand.

The Company's websites can be found at: www.nutk.com; www.tekplate.com; and
www.datascension.com; and www.nutekoil.com

(i) Short-term Objectives:


The Company plans to accomplish the following:

 - Purchase an additional 100 call center stations to further expand the
company's growth ability,
 - Introduce a compensation and audit committee comprised of a majority of
   independent members,
 - Invest in automatic predictive dialers for our Costa Rica facilities, which
will further increase productivity by approximately 20-30%,
 - Continue market penetration and consumer awareness of the Tekplate product,
 - Make acquisitions of strategic competitors,
 - Develop strategic Joint Venture relationships, and
 - Continue to test and evaluate the market research industry at additional
offshore locations.


(ii) Long-term Objectives:

 - Expand the Tekplate penetration to both a national and international level.
  -  Secure  additional significant business opportunities and new clients  for
Datascension Inc.
 - Continue workover  program  in Texas to allow for increase of oil production
to over 1,200 barrels per month.


There is a planned sale of significant  equipment and assets to include, Kristi
&  Co.,  Inc,  SRC International Inc.  The company  anticipates  a  significant
capital infusion  into  the  company  from the sale of these assets, which will
provide  additional capital for the purchase  of  Tekplate  inventory  and  the
further expansion  of  Datascension  into the International markets.  Excluding
any potential acquisition, the Company's  work force is expected to increase at
a rate equal to actual increases of our business operations.

1)  During the Third Quarter ended September  30,  2003  the  Company had a net
profit of $122,670 from operations against revenues of $1,712,748  as  compared
to a net profit from operations of $122,983 against revenues of $1,880,388  for
the same quarter last year.  The Company has decreased its selling, general and
administration  costs  from  $780,036 for the same period last year to $627,912
for the Third Quarter this year.  Depreciation costs for the Third Quarter this
year were $64,554 as compared to $56,005 for the same period last year.

As of September 30, 2003, the  Company  has  ninety  six  million eight hundred
forty  seven  thousand five hundred seventy eight (96,847,578)  shares  of  its
$0.001 par value  common  voting  stock  issued  and  ninety five million eight
hundred  eighty  nine thousand two hundred forty five (95,889,245)  outstanding
which are held by  approximately  six  hundred ninety six (696) shareholders of
record.    The  Company  also  has five hundred  eight  thousand  five  hundred
(508,500) shares of its $0.001 par  value  Preferred  Stock Series B issued and
outstanding,  as  of September 30, 2003. All Series B Preferred  shares,  which
have been issued, were  issued  for  cash at $1.00 a share.  Series B Preferred
shares have the same voting rights as  the  common  shares but have priority in
the event of Company liquidation.  All of the shares  outstanding  were  to  be
redeemed  at  $1.00  a  share  plus all accrued dividends prior to December 31,
1993.  This has been extended by mutual agreement.  Series B shares have annual
dividends of $0.15 a share payable  quarterly.   They are convertible to common
shares on a one for one basis at the holders' option.   The  Company  also  has
five  hundred  twenty  four thousand five hundred and eight (524,508) shares of
its $0.001 par value Preferred  Stock  Series  A  issued and outstanding, as of
September 30, 2003.

2) Results of Operations

For  the  Third Quarter, ended September 30, 2003, the  Company  has  generated
$1,712,748  in revenues and generated a profit of $122,670 for the same period.
This compares  to  revenues of $1,880,388 and a profit of $122,983 for the same
period last year.  The  Company  has  increased its working capital position by
$1,415,612  from a positive $1,313,678 at  December  31,  2002  to  a  positive
$2,485,724 on September 30, 2003.

The majority  of  the  Company's  expenses for the quarter included payroll and
administrative costs.


TekPlate has undergone a complete repositioning under Mr. Silverman's direction
in terms of packaging, literature and the www.tekplate.com website has been
updated to reflect the new positioning of this product.

3) Liquidity and Capital Resources

Management is of the opinion that sufficient  working capital will be available
from internal operations and from outside sources during the next twelve months
thereby enabling Nutek to meet its obligations  and  commitments as they become
payable.  Historically,  Nutek  has been successful in its  efforts  to  secure
working capital from private placements  of common stock securities, bank debt,
and loans from private investors.  Currently,  Mr. Conradie and Mr. Kincer have
both  provided  significant personal collateral to  the  Company's  bankers  in
return for a substantial  line  of  credit  and the commitment to fund purchase
orders for the Tekplate product from major wholesalers.

As an ongoing concern, if the Company needs to  raise additional funds in order
to fund expansion, develop new or enhanced services  or  products,  respond  to
competitive   pressures   or  acquire  complementary  products,  businesses  or
technologies, any additional  funds  raised  through  the issuance of equity or
convertible debt securities, the percentage ownership of  the  stockholders  of
the  Company  will  be reduced, stockholders may experience additional dilution
and such securities may  have rights, preferences or privileges senior to those
of the Company's Common Stock.    The  Company  does  not  currently  have  any
contractual  restrictions  on  its  ability to incur debt and, accordingly, the
Company  could  incur  significant  amounts  of  indebtedness  to  finance  its
operations.   Any  such  indebtedness  could  contain  covenants,  which  would
restrict the Company's operations.

The Company currently has four hundred fifty  two  (452) employees of which six
(6) are Officers of the Company.  As the Company continues  to grow and develop
its product lines it will need to add employees.

The  Company's  consolidated  financial  statements have been prepared  on  the
assumption the Company will continue as a  going  concern.  Management believes
that current operations will continue to provide sufficient  revenues  to  meet
operating costs and expansion.

Unclassified  Balance Sheet - In accordance with the provisions of SFAS No. 53,
the Company has elected to present an unclassified balance sheet.

Earnings Per Share  -  The  Company  adopted  the  provisions  of  Statement of
Financial  Accounting  Standards  ("SFAS")  No. 128, "Earnings Per Share"  that
established  standards  for  the computation, presentation  and  disclosure  of
earnings per share ("EPS"), replacing  the  presentation  of Primary EPS with a
presentation of Basic EPS. It also requires dual presentation  of Basic EPS and
Diluted  EPS  on  the  face  of the income statement for entities with  complex
capital structures.

                                        18

Forward-Looking Statements

This Form 10-QSB includes "forward-looking  statements"  within  the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section  21E  of the
Securities  Exchange  Act  of  1934,  as  amended.   All statements, other than
statements of historical facts, included or incorporated  by  reference in this
Form 10-QSB which address activities, events or developments which  the Company
expects  or anticipates will or may occur in the future, including such  things
as future  capital  expenditures  (including  the  amount  and nature thereof),
finding suitable merger or acquisition candidates, expansion  and growth of the
Company's  business  and operations, and other such matters are forward-looking
statements.

These statements are based  on  certain  assumptions  and  analyses made by the
Company  in  light  of its experience and its perception of historical  trends,
current conditions and expected future developments as well as other factors it
believes are appropriate in the circumstances.  However, whether actual results
or developments will conform with the Company's expectations and predictions is
subject to a number of  risks  and  uncertainties,  general economic market and
business conditions; the business opportunities (or lack  thereof)  that may be
presented  to  and  pursued by the Company; changes in laws or regulation;  and
other factors, most of which are beyond the control of the Company.

This  Form  10-QSB  contains   statements   that   constitute  "forward-looking
statements." These forward-looking statements can be  identified  by the use of
predictive,  future-tense  or  forward-looking terminology, such as "believes,"
"anticipates,"  "expects," "estimates,"  "plans,"  "may,"  "will,"  or  similar
terms. These statements  appear  in a number of places in this Registration and
include statements regarding the intent,  belief or current expectations of the
Company, its directors or its officers with respect to, among other things: (i)
trends affecting the Company's financial condition or results of operations for
its limited history; (ii) the Company's business  and  growth strategies; (iii)
the  Internet and Internet commerce; and, (iv) the Company's  financing  plans.
Investors  are  cautioned  that  any  such  forward-looking  statements are not
guarantees   of   future   performance   and  involve  significant  risks   and
uncertainties,  and  that  actual  results may  differ  materially  from  those
projected in the forward-looking statements  as  a  result  of various factors.
Factors  that  could  adversely affect actual results and performance  include,
among others, the Company's  limited operating history, dependence on continued
growth  in  the  use  of the Internet,  the  Company's  inexperience  with  the
Internet, potential fluctuations  in  quarterly operating results and expenses,
security  risks  of  transmitting information  over  the  Internet,  government
regulation, technological change and competition.

Consequently, all of the  forward-looking  statements  made in this Form 10-QSB
are qualified by these cautionary statements and there can be no assurance that
the actual results or developments anticipated by the Company  will be realized
or,   even  if  substantially  realized,  that  they  will  have  the  expected
consequence  to  or  effects on the Company or its business or operations.  The
Company assumes no obligations to update any such forward-looking statements.


                                       19



Item 3. Controls and Procedures

Within 90 days prior to  the  date  of this quarterly report on Form 10-QSB for
the  third  quarter  ended September 30,  2003,  the  Company  carried  out  an
evaluation, under the  supervision  and with the participation of the Company's
management, including the Company's Chief Executive Officer and Chief Financial
Officer, of the effectiveness of the  design  and  operation  of  the Company's
disclosure  controls  and  procedures pursuant to Rule 13a-14 of the Securities
Exchange Act of 1934. Based  upon  that  evaluation,  these principal executive
officers  and  principal  financial  officer  concluded  that   the   Company's
disclosure  controls  and  procedures are effective in timely alerting them  to
material  information relating  to  the  Company,  including  its  consolidated
subsidiaries,  required  to  be included in the Company's periodic SEC filings.
There have been no significant changes in internal controls or in other factors
that could significantly affect internal controls subsequent to the date of our
most recent evaluation.


                           PART II OTHER INFORMATION

ITEM 1.  Legal Proceedings

The Company is from time to time involved in litigation incident to the conduct
of its business.  Certain litigation  with third parties and present and former
employees of the Company is routine and  incidental, such litigation can result
in large monetary awards for compensatory or punitive damages.

The Company is currently involved in the following litigation:

The previous facility leased by Registrant  in Henderson, Nevada was leased for
the purpose of consolidating all the operations  into  one  location.   A prior
tenant of the premises had vacated the premises leaving fixtures  that occupied
approximately 50% of the floor space in the warehouse.  The landlord had agreed
to have this equipment removed within 90 days.  This did not occur and after 14
months, when the equipment had not been removed from the premises;  a  decision
was  made  to  find alternate premises and terminate the lease for cause.   The
Registrant is claiming damages, and this litigation is currently active.

The Company, along  with  a  number of individual shareholders, filed a federal
lawsuit on March 21, 2003 in the  United  States  District  Court,  District of
Nevada,   against  Ameritrade  Holding  Corp.,  E*Trade  Group  Inc.,  Fidelity
Brokerage Services  LLC, Maxim Group LLC and Charles Schwab & Company Inc., for
securities fraud, breach of contract, and negligence, among other claims.   The
plaintiff group is also  demanding declaratory and injunctive relief, including
asking for general, special and punitive financial damages; and that the matter
be taken up for jury trial  in  the  jurisdiction of the United States District
Court's Nevada District.

UPDATE

Although some of the plaintiffs had agreed  to  settle  the  failed delivery of
certificates to shareholders if the shares were delivered by July  2, 2003, the
settlement  proposed  by  the  brokerages  was not carried out as agreed.   The
company has now retained additional counsel  and  filed an amended complaint on
October 31, 2003.

On  October  20,  2003,  Nutek,  Inc. (the "Company") issued  a  press  release
announcing that the Company would  be placing the patented TekPlate product and
various  related  licenses,  marketing  agreements,  etc.,  into  a  subsidiary
corporation that will be spun  off  from  the  parent  Nutek  as a wholly owned
subsidiary and has declared a stock dividend in that company. The dividend will
take the form of a dividend certificate representing common stock,  which  will
be  distributed  to  the  Company's beneficial stockholders of record as of the
record date.

The company is in the process  of issuing the dividend shares to all beneficial
holders of Nutek stock as of the Record Date of November 7, 2003.


ITEM 2.  Changes in Securities and Use of Proceeds

None.

ITEM 3.  Defaults upon Senior Securities

None.

ITEM 4.  Submission of Matters to a Vote of Security Holders

None

ITEM 5.  Other Information

None

ITEM 6.  Exhibits and Reports on Form 8-K

None


                                         20

                                     SIGNATURES

Pursuant to the requirements of  Section  12  of the Securities Exchange Act of
1934, the registrant has duly caused this report  to be signed on its behalf by
the undersigned, thereunto duly authorized.

                                               Nutek, Inc.
                                               ------------
                                             (Registrant)
/s/ Murray N. Conradie
-----------------------------------
Murray N. Conradie, President and Chairman of the Board
Date: November 14, 2003


/s/ Jason F. Griffith, CPA
-----------------------------------
Jason F. Griffith, CFO and Corporate Secretary
Date:  November 14, 2003