UNITED STATES
                       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 0-25853
            --------------------------------------------------------

                             Scientific Energy, Inc.
        (Exact name of small business issuer as specified in its charter)

            Nevada                                         87-0570975
(State or other jurisdiction                   (IRS Employer Identification No.)
of incorporation or organization)


                  630 North 400 West, Salt Lake City, UT 84103
                    (Address of principal executive offices)

                                 (801) 359-2410
                            Issuer's telephone number


 (Former  name,  former  address and former  fiscal year,  if changed since last
report.)

                      APPLICABLE ONLY TO CORPORATE ISSUERS

     State the number of shares  outstanding of each of the issuer's  classes of
common equity,  as of the latest  practical  date:  October 22, 2003  55,200,000
                                            ------------------------------------

     Transitional Small Business  Disclosure Format (check one). Yes ; No X
                                                                 ----   ----




<PAGE>


                         PART I - FINANCIAL INFORMATION


Item 1.  Financial Statements


                         INDEPENDENT ACCOUNTANT'S REPORT


Scientific Energy, Inc.
(A Development Stage Company)


         We have reviewed the accompanying  balance sheet of Scientific  Energy,
Inc. as of September 30, 2003,  and the related  statement of operations for the
three and nine months  ended  September  30, 2003 and 2002 and the  statement of
cash flows for the nine month periods ended  September 30, 2003 and 2002.  These
financial statements are the responsibility of the Company's management.

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

         Based on our  review,  we are not aware of any  material  modifications
that should be made to the financial statements referred to above for them to be
in conformity with accounting principles generally accepted in the United States
of America.

         We have  previously  audited,  in accordance  with  auditing  standards
generally  accepted  in the  United  States of  America,  the  balance  sheet of
Scientific  Energy,  Inc. as of December 31, 2002, and the related statements of
operations,  cash flows, and  stockholders'  equity for the year then ended (not
presented  herein);  and in our report  dated March 14,  2003,  we  expressed an
unqualified  opinion  on  those  financial  statements.   In  our  opinion,  the
information set forth in the accompanying balance sheet as of December 31, 2002,
is fairly  stated,  in all material  respects,  in relation to the balance sheet
from which it has been derived.

         Note 1 of the Company's audited financial statements as of December 31,
2002,  and for the year then  ended  discloses  that the  Company  has  suffered
recurring  losses from  operations and has no  established  source of revenue at
December 31, 2002. Our auditors' report on those financial  statements  includes
an explanatory  paragraph  referring to the matters in Note 1 of those financial
statements and indicating that these matters raised  substantial doubt about the
Company's ability to continue as a going concern.  As indicated in Note 1 of the
Company's  unaudited interim financial  statements as of September 30, 2003, and
for the three and nine months then ended, the Company


<PAGE>



has  continued  to suffer  recurring  losses  from  operations  and still has no
established  source of revenue at September 30, 2003. The  accompanying  interim
consolidated  financial  statements  do not include any  adjustments  that might
result from the outcome of this uncertainty.


                                                    Respectfully Submitted,



                                                    Robison, Hill & Co.
                                                    ----------------------------
                                                    Certified Public Accountants

Salt Lake City, Utah
October 22, 2003

































<PAGE>



                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                           CONSOLIDATED BALANCE SHEET
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                               September 30,        December 31,
                                                                                    2003                2002
                                                                             ------------------  ------------------
<S>                                                                          <C>                 <C>
ASSETS
Current Assets:
Cash & Cash Equivalents                                                      $                -  $                -
Prepaid Expenses                                                                              5                   -
                                                                             ------------------  ------------------

     Total Current Assets                                                                     5                   -
                                                                             ------------------  ------------------

Other Assets:
Intangibles                                                                              50,000              50,000
                                                                             ------------------  ------------------

     Total Assets                                                            $           50,005  $           50,000
                                                                             ==================  ==================

LIABILITIES
Current Liabilities:
Accounts Payable                                                             $           40,792  $           36,471
Overdraft                                                                                    11                 212
Income Taxes Payable                                                                          -                 100
Accrued Payroll Liabilities                                                                 455                 455
Note Payable - Shareholder                                                               33,351              22,037
                                                                             ------------------  ------------------

     Total Liabilities                                                                   74,609              59,275
                                                                             ------------------  ------------------

STOCKHOLDERS' EQUITY
Common Stock, Par Value $.001,
   Authorized 100,000,000 shares
   Issued 55,200,000 and 42,200,000 Shares at
   September 30, 2003 and December 31, 2002                                              55,200              42,200
Common Stock to be Issued                                                                     -              13,000
Paid-In Capital                                                                         705,272             705,272
Deficit Accumulated During the
   Development Stage                                                                   (785,076)           (769,747)
                                                                             ------------------  ------------------

     Total Stockholders' Equity                                                         (24,604)             (9,275)
                                                                             ------------------  ------------------

     Total Liabilities and Stockholders' Equity                              $           50,005  $           50,000
                                                                             ==================  ==================
</TABLE>


                 See accompanying notes and accountants' report.


<PAGE>



                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                                                               Cumulative
                                                                                                                 Since
                                                                                                              May 30, 2001
                                                                                                               Inception
                                      For the Three Months Ended            For the Nine Months Ended              of
                                             September 30,                        September 30,               Development
                                        2003               2002              2003               2002             Stage
                                 ------------------ ------------------ ----------------- ------------------ ----------------
<S>                              <C>                <C>                <C>               <C>                <C>
Revenues:                        $                - $                - $               - $                - $              -
                                 ------------------ ------------------ ----------------- ------------------ ----------------

Expenses:
Research & Development                            -                  -               138             13,116           68,090
General & Administrative                      4,541              5,237            10,662            196,450          401,885
                                 ------------------ ------------------ ----------------- ------------------ ----------------

     Loss from Operations                    (4,541)            (5,237)          (10,800)          (209,566)        (469,975)

Other Income (Expense)
Interest, Net                                (1,399)            (2,228)           (4,529)            (9,138)         (19,251)
Write-down of Technology
    and Royalties                                 -                  -                 -           (295,750)        (295,750)
                                 ------------------ ------------------ ----------------- ------------------ ----------------

     Net Loss Before Taxes                   (5,940)            (7,465)          (15,329)          (514,454)        (784,976)

     Income Tax Expense                           -                  -                 -                  -              100
                                 ------------------ ------------------ ----------------- ------------------ ----------------

     Net Loss                    $          (5,940) $          (7,465) $        (15,329) $        (514,454) $       (785,076)
                                 ================== ================== ================= ================== ================


Basic & Diluted Loss
Per Share                        $                - $                - $               - $            (0.01)
                                 ================== ================== ================= ==================

Weighted Average Shares                  55,200,000         42,200,000        55,200,000         34,752,000
                                 ================== ================== ================= ==================
</TABLE>

                 See accompanying notes and accountants' report.


<PAGE>


                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                                    Cumulative
                                                                                                       since
                                                                                                      May 30,
                                                                                                        2001
                                                                For the Nine Months Ended           Inception of
                                                                      September 30,                 Development
                                                                2003                2002               Stage
                                                          -----------------  ------------------  ------------------
CASH FLOWS FROM OPERATING
ACTIVITIES:
<S>                                                       <C>                <C>                 <C>
Net Loss                                                  $         (15,329) $         (514,454) $         (785,076)

Adjustments to Reconcile Net Loss to Net
Cash Used in Operating Activities:
Write-down of Technology and Royalties                                    -             295,750             295,750
Stock Issued for Expenses                                                 -             130,000             210,000

Change in operating assets and liabilities:
(Increase) Decrease in Prepaid Expenses                                  (5)            (31,404)            (95,755)
Increase (Decrease) in Accounts Payable                               4,321              11,551              40,792
Increase (Decrease) in Income Tax Payable                              (100)                  -                   -
Increase (Decrease) in Bank Overdraft                                  (201)                 88                  11
Increase (Decrease) in Accrued Expenses                                   -               1,074                 495
                                                          -----------------  ------------------  ------------------
  Net Cash Used in operating activities                             (11,314)           (107,395)           (333,783)
                                                          -----------------  ------------------  ------------------

CASH FLOWS FROM INVESTING
ACTIVITIES:
Net cash provided by investing activities                                 -                   -                   -
                                                          -----------------  ------------------  ------------------

CASH FLOWS FROM FINANCING
ACTIVITIES:
Cash acquired in Merger                                                   -                   -                 432
Payment on Shareholder Loan                                         (32,267)             (1,400)            (25,139)
Proceeds from Shareholder Loan                                       43,581             108,785             358,490
                                                          -----------------  ------------------  ------------------
  Net Cash Provided by Financing Activities                          11,314             107,385             333,783
                                                          -----------------  ------------------  ------------------

Net (Decrease) Increase in Cash
       and Cash Equivalents                                               -                 (10)                  -
Cash and Cash Equivalents at
       Beginning Period                                                   -                  10                   -
                                                          -----------------  ------------------  ------------------

  Cash and Cash Equivalents at End of Period              $               -  $                -  $                -
                                                          =================  ==================  ==================
</TABLE>

<PAGE>

                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                                     Cumulative
                                                                                                       since
                                                                                                      May 30,
                                                                                                        2001
                                                                For the Nine Months Ended           Inception of
                                                                      September 30,                 Development
                                                                2003                2002               Stage
                                                          -----------------  ------------------  ------------------
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the year for:
<S>                                                       <C>                <C>                 <C>
  Interest                                                $           1,085  $            2,459  $            6,620
  Income taxes                                            $               -  $                -  $              100

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING
ACTIVITIES: None

Common Stock Exchanged for Technology                     $               -  $                -  $          250,040
Note Payable Converted to Common Stock                    $               -  $                -  $          300,000
</TABLE>





















                 See accompanying notes and accountants' report.


<PAGE>



                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2003 AND 2002

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         This summary of accounting  policies for Scientific  Energy,  Inc. "the
Company," (a development  stage company) is presented to assist in understanding
the Company's financial statements. The accounting policies conform to generally
accepted  accounting  principles  and  have  been  consistently  applied  in the
preparation of the financial statements.

Interim Reporting

         The  unaudited  financial  statements  as of September 30, 2003, in the
opinion of management,  all  adjustments  (which  include only normal  recurring
adjustments)  necessary  to fairly state the  financial  position and results of
operations for the three and nine months.  Operating results for interim periods
are not  necessarily  indicative  of the results  which can be expected for full
years.

Nature of Operations and Going Concern

         The accompanying  financial  statements have been prepared on the basis
of accounting principles applicable to a "going concern",  which assume that the
Company  will  continue in  operation  for at least one year and will be able to
realize  its assets  and  discharge  its  liabilities  in the  normal  course of
operations.

         Several conditions and events cast doubt about the Company's ability to
continue as a "going concern," in particular the determination by the Company to
write-down some of their technology  assets. The Company has incurred net losses
of  approximately  $785,000  for the period  from May 30,  2001  (inception)  to
September 30, 2003, has a liquidity problem,  and requires additional  financing
in order to finance  its  business  activities  and meet its  obligations  on an
ongoing basis.  The Company has attempted to pursue  alternative  financing with
one  entity,  although  no  commitments  have  been  obtained.  In the  interim,
shareholders  of the Company  have  committed  to meeting its minimal  operating
expenses.

         The  Company's  future  capital  requirements  will  depend on numerous
factors  including,  but not limited to, its willingness to continue progress in
developing its products.

         These  financial  statements do not reflect  adjustments  that would be
necessary  if the Company  were unable to continue as a "going  concern".  While
management believes that the actions already taken or planned, will mitigate the
adverse conditions and events which raise doubt about the validity of the "going
concern" assumption used in preparing these financial  statements,  there can be
no assurance that these actions will be successful.

         If the  Company  were unable to  continue  as a "going  concern",  then
substantial adjustments would be necessary to the carrying values of assets, the
reported  amounts of its  liabilities,  the reported  expenses,  and the balance
sheet classifications used.


<PAGE>



                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2003 AND 2002
                                   (Continued)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

Organization and Basis of Presentation

         The Company was originally  incorporated under the laws of the State of
Nevada,  under the name of Quazon Corp.,  Inc.  Scientific Energy was originally
incorporated  under  the  laws of the  State  of Utah  on May  30,  2000.  As of
September 30, 2003,  the Company is in the  development  stage and has not begun
planned principal operations.

Acquisition of Subsidiary

         On June 6, 2001,  Scientific  Energy,  Inc.  (A Utah  Corporation)  and
Quazon,  Corp.  (A Nevada  Corporation)  entered into an  agreement  and plan of
reorganization.  Pursuant to the agreement,  Scientific  Energy,  Inc.  acquired
20,000,000  shares of  Quazon's  shares in  exchange  for 100% of the issued and
outstanding shares of Scientific Energy.

Principles of Consolidation

         The  consolidated   financial   statements   include  the  accounts  of
Scientific Energy,  Inc.  (formerly Quazon,  Corp.) a Nevada corporation and its
wholly-owned subsidiary Scientific Energy, Inc., a Utah corporation.

         The results of subsidiaries  acquired during the year are  consolidated
from their effective dates of acquisition.

         All  significant  inter-company  accounts  and  transactions  have been
eliminated.

Nature of Business

         The Company is currently looking for a merger or acquisition candidate.
The Company  intends to acquire  interests  in various  business  opportunities,
which in the opinion of management  will provide a profit to the Company.  There
can be no  assurance  that such an  agreement  will be reached and  finalized on
terms and conditions acceptable to the Company.

Concentration of Credit Risk

         The  Company has no  significant  off-balance-sheet  concentrations  of
credit  risk such as foreign  exchange  contracts,  options  contracts  or other
foreign hedging arrangements.


<PAGE>



                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2003 AND 2002
                                   (Continued)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

Cash and Cash Equivalents

         For purposes of the statement of cash flows, the Company  considers all
highly liquid debt instruments purchased with a maturity of three months or less
to be cash equivalents to the extent the funds are not being held for investment
purposes.

Pervasiveness of Estimates

         The  preparation of financial  statements in conformity  with generally
accepted  accounting  principles  required  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.

Loss per Share

         Basic loss per share has been  computed  by  dividing  the loss for the
year  applicable to the common  stockholders  by the weighted  average number of
common  shares  outstanding  during the years.  There were no common  equivalent
shares outstanding at June 30, 2003 and 2002.


NOTE 2 - INCOME TAXES

         As of  September  30,  2003,  the  Company  had a  net  operating  loss
carryforward for income tax reporting  purposes of  approximately  $785,000 that
may be offset against future taxable income through 2022. Current tax laws limit
the amount of loss  available to be offset  against future taxable income when a
substantial  change in  ownership  occurs.  Therefore,  the amount  available to
offset future taxable income may be limited. No tax benefit has been reported in
the financial statements, because the Company believes there is a 50% or greater
chance the  carry-forwards  will expire unused.  Accordingly,  the potential tax
benefits of the loss  carry-forwards are offset by a valuation  allowance of the
same amount.


<PAGE>



                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2003 AND 2002
                                   (Continued)


NOTE 3 - DEVELOPMENT STAGE COMPANY

         The Company has not begun principal  operations and as is common with a
development  stage  company,  the Company has had  recurring  losses  during its
development  stage.  The  Company's  financial  statements  are  prepared  using
generally  accepted  accounting  principles  applicable to a going concern which
contemplates  the  realization  of assets and  liquidation of liabilities in the
normal course of business.  However,  the Company does not have significant cash
or other material  assets,  nor does it have an  established  source of revenues
sufficient to cover its  operating  costs and to allow it to continue as a going
concern.  In the interim,  shareholders of the Company have committed to meeting
its minimal operating expenses.

NOTE 4 - COMMITMENTS

         As of  September  30,  2003,  all  activities  of the Company have been
conducted by corporate  officers from their business offices.  Currently,  there
are no outstanding debts owed by the company for the use of these facilities and
there are no commitments for future use of the facilities.

NOTE 5- INTANGIBLE ASSETS

         On May 30, 2001,  Scientific  Energy,  Inc. (Utah) acquired  intangible
assets including  technology,  trade secrets, and patent applications for design
and  process  and  potential  patents  on  either  design  or  process  on their
technology of $250,040.  The Company became the owner of the technology pursuant
to the  reorganization  entered into between the Company and Scientific  Energy,
Inc. (Utah). This technology consists of energy cell technology that is believed
to provide a reliable  energy  source  that can be used in  portable  electronic
devices and will increase the life of existing batteries significantly.

         During   the  first   quarter   of  2002,   management   reviewed   the
reasonableness of the value of their technology, and decided that in the absence
of research and development efforts the value of the technology was only $50,000
at that time. Thus, the intangible assets were written-down $200,000.









<PAGE>



                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2003 AND 2002
                                   (Continued)

NOTE 6 - LINE OF CREDIT / NOTE PAYABLE - SHAREHOLDER

         On August 15,  2001,  the  president of the Company gave the Company an
unsecured line of credit for up to $350,000. The Line carries interest at Prime.
As of  September  30, 2003 and  December  31, 2002 the Company  owes $33,351 and
$22,037,  respectively,  against this line of credit and has been reported along
with accrued interest in the accompanying  financial statements as "Note Payable
Shareholder."

NOTE 8- COMMON STOCK TRANSACTIONS

         On May 17, 2002, the president of the Company converted $250,000 of his
note payable into 10,000,000  shares of common stock.  Also on May 17, 2002, the
Company issued an additional  5,200,000 shares for accrued salaries of $130,000.
These  transactions  were  valued at  approximately  $0.025 per share,  the fair
market value of shares on the date of issuance.

         On December 11, 2002, the president of the Company converted $50,000 of
his note payable into  5,000,000  shares of common  stock.  Also on December 11,
2002, the Company issued an additional  8,000,000 shares for accrued salaries of
80,000.  These  transactions  were valued at approximately  $0.01 per share, the
fair market value of the shares at the date the agreements were made.


<PAGE>



ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

         The  following  information  should  be read in  conjunction  with  the
consolidated  financial statements and notes thereto appearing elsewhere in this
Form 10-QSB.

Introduction

         The  Company is a  development  stage  company  that has not engaged in
material  operations or realized  revenues for several years.  An officer of the
Company  has,  in the past,  advanced  funds for  payment  of  certain  expenses
incurred by the Company.  A portion of these advances has been subject to a note
payable,  and the Company has issued  shares of Company  common  stock for other
advances.

         For the immediate future, necessary funds, including funds for expenses
related to the Company's reporting obligations under the Securities Exchange Act
of 1934,  will be provided by Todd Crosland,  president,  director and principal
stockholder of the Company, under a $350,000 loan agreement. As of September 30,
2003,  the  Company  owes  $33,351  on this note.  Until the  Company is able to
generate revenues or is able to obtain significant  outside financing,  there is
substantial doubt about its ability to continue as a going concern.

         At  September  30,  2003,  the  Company  had total  assets of  $50,005,
consisting of mainly of  technology.  The technology was acquired by the Company
as  part  of a plan of  reorganization  with  Scientific  Energy,  Inc.,  a Utah
Corporation  ("Scientific").  Pursuant  to the  agreement,  the  Company  issued
20,000,000  shares in exchange for 100% of the issued and outstanding  shares of
Scientific. The technology is the sole asset of Scientific. Total liabilities at
September  30, 2003,  were  $74,609,  consisting  mainly of accounts  payable of
$40,792, note payable to shareholder of $33,351 .

Results of Operations

         For the three and nine months ended  September  30,  2003,  general and
administrative  expenses  were $4,541 and $10,662 and research  and  development
expenses were $0 and $138. General and administrative expenses are primarily for
legal, accounting services and salaries.

         The  Company  does not  anticipate  any  material  revenues  during the
succeeding 12 months.  During this interim period, the Company  anticipates that
its expenses will be stable.

         In the  opinion of  management,  inflation  has not and will not have a
material effect on the operations of the Company.

Plan of Operation

         As of September  30, 2003,  the  president of the Company has agreed to
loan to the  Company  up to  $350,000.  The loan is  repayable  on  demand  with
interest at prime rate.  As of  September  30,  2003,  the Company  owes $33,351
against this line of credit and has been reported along with accrued interest in
the accompanying financial statements as "Note Payable Shareholder". The


<PAGE>



Company estimates that this loan agreement will provide  sufficient cash for its
operating  needs  for  general  and   administrative   expenses,   research  and
development,  minimum  royalty  payments and  marketing  efforts for the next 12
months.

         Because the Company  lacks funds,  it may be necessary for the officers
and  directors  either to advance  additional  funds to the Company or to accrue
expenses  until such time as  revenues  are  generated  sufficient  to cover the
expenses of the Company. Management intends to hold expenses to a minimum and to
obtain  services on a contingency  basis when possible.  Further,  the Company's
directors will defer any compensation  until such time as revenues are generated
sufficient to cover the expenses of the Company. However, if the Company engages
outside  advisors or consultants in its  development of the business,  it may be
necessary for the Company to attempt to raise  additional  funds. As of the date
hereof,  the Company has not made any  arrangements or definitive  agreements to
use outside advisors or consultants or to raise any capital.

         In the event the Company needs additional capital, most likely the only
method  available  will be the private  sale of its  securities.  Because of the
nature of the Company as a  development  stage  company,  it is unlikely that it
could make a public sale of securities or be able to borrow any  significant sum
from either a commercial or private  lender.  There can be no assurance that the
Company will be able to obtain  additional  funding when and if needed,  or that
such funding, if available, can be obtained on terms acceptable to the Company.

         The  Company  does  not  expect  to  purchase  or  sell  any  plant  or
significant  equipment and does not expect significant  changes in the number of
employees in the next 12 months.

Net Operating Loss

         As of  September  30,  2003,  the  Company  had a  net  operating  loss
carry-forward for income tax reporting  purposes of approximately  $785,000 that
may be offset against future taxable income through 2022. Current tax laws limit
the amount of loss  available to be offset  against future taxable income when a
substantial  change in  ownership  occurs.  Therefore,  the amount  available to
offset future taxable income may be limited. No tax benefit has been reported in
the financial statements, because the Company believes there is a 50% or greater
chance the  carry-forwards  will expire unused.  Accordingly,  the potential tax
benefits of the loss  carry-forwards are offset by a valuation  allowance of the
same amount.

Forward-Looking Information

         This report includes  forward-looking  statements because we believe it
may  be  helpful  to  investors  to  communicate  our  plans  and  expectations.
Forward-looking  statements  about  what may  happen in the  future are based on
management's  beliefs,   assumptions  and  plans  for  the  future,  information
currently available to management,  and other statements that are not historical
in nature.  Forward-looking statements include statements in which words such as
"expect,"  "anticipate,"  "intend," "plan," "believe,"  estimate," "consider" or
similar  expressions  are  used.  These  forward-  looking  statements  are  not
guarantees  of  future   performance  and  involve  risks,   uncertainties   and
assumptions, including among others:


<PAGE>



         *        We may not be able to  develop  commercially  viable  products
                  based on our technologies.

         *        We have not obtained any third-party independent  verification
                  of our test results or of the efficacy of our product designs.

         *        We  cannot  assure  that our  intellectual  properties  do not
                  infringe on the intellectual properties of others.

         *        We may not be able to prevent  others from  infringing  on our
                  intellectual properties.

         *        We may not be able to obtain required additional capital.

         *        Our technologies may not lead to commercial  products that can
                  be manufactured  readily or economically in large numbers that
                  will operate efficiently or economically.

         *        We may not be able to market any products we develop.

         Although we believe our plans and expectations stated,  reflected in or
suggested by our forward-looking  statements are reasonable,  our future results
and  stockholder  values may differ  materially  from those  expressed  in these
forward-looking  statements.  Many of the  factors  that  will  determine  these
results  and  values  are beyond  our  ability  to  control  or  predict.  These
statements  reflect  management's  current  view of our  future  events  and are
subject to  certain  risks,  uncertainties,  assumptions  and risks.  Any of the
factors noted above or elsewhere in this document, as well as in other materials
filed with the Securities and Exchange  Commission,  should be considered before
any investor  decides to purchase or retain any of our  securities.  Any of such
factors  could have a material  adverse  effect on our  business  and  financial
condition and prospects,  results of operations and trading price for our common
stock.

         Our forward-looking  statements speak only as of the date they are made
and should not be relied upon as representing  our plans and  expectations as of
any  subsequent  date.  We do not  undertake  to  update,  correct or revise any
forward-looking  statements, even if our plans and expectations change. However,
from time to time,  we may  voluntarily  update,  correct or revise our previous
forward-looking statements.

Item 3.  Controls and Procedures

         The Company's Chief Executive  Officer and Chief Financial Officer have
concluded,  based on an evaluation  conducted within 90 days prior to the filing
date of this  Quarterly  Report  on Form  10-Q,  that the  Company's  disclosure
controls and  procedures  have  functioned  effectively  so as to provide  those
officers the information necessary whether:

                  (i) this  Quarterly  Report on Form 10-Q  contains  any untrue
statement of a material fact or omits to state a material fact necessary to make
the statements made, in light of the


<PAGE>



circumstances under which such statements were made, not misleading with respect
to the period covered by this Quarterly Report on Form 10-Q, and

                  (ii) the financial statements, and other financial information
included in this Quarterly  Report on Form 10-Q,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
Company as of, and for, the periods  presented in this Quarterly  Report on Form
10-Q.

         There  have  been no  significant  changes  in the  Company's  internal
controls or in other factors since the date of the Chief Executive Officer's and
Chief  Financial  Officer's  evaluation  that could  significantly  affect these
internal controls,  including any corrective actions with regards to significant
deficiencies and material weaknesses.

                           PART II--OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

         None.

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

         (a) Exhibits:



<PAGE>
<TABLE>
<CAPTION>

                  SEC
   Exhibit     Reference
   Number        Number                             Title of Document                               Location

------------- ------------ ------------------------------------------------------------------- -------------------
<S>           <C>          <C>                                                                 <C>
      Item 2.              Plan of Acquisition, Reorganization, Arrangement, Liquidation or
                           Succession

         2.01 2            Agreement and Plan of Reorganization among Quazon Corp.,            Incorporated by
                           Scientific Energy, Inc., and the stockholders of Scientific Energy, reference(1)
                             Inc. dated June 6, 2001


      Item 3.              Articles of Incorporation and Bylaws

------------- ------------ ------------------------------------------------------------------- -------------------
         3.01 3            Amendment to Articles of Incorporation to change the name of the    Incorporated by
                           Company to Scientific Energy, Inc.                                  reference(2)


     Item 10.              Material Contracts

------------- ------------ ------------------------------------------------------------------- -------------------
        10.01 10           Royalty Agreement dated May 31, 2001, by and between Otis H.        Incorporated by
                           Sanders, David Sanders, Daryl Conley, Paul Thomas and Scientific    reference(2)
                           Energy, Inc.

        10.02 10           Form of Employment Agreement dated May 31, 2001, by and             Incorporated by
                           between Scientific Energy, Inc. and related schedule of employees   reference(2)
                           and compensation
        10.03 10           Loan Agreement dated as of June 15, 2001, between Scientific        Incorporated by
                           Energy, Inc. and Todd B. Crosland with related form of Promissory   reference(2)
                           Note

     Item 31.
------------- ------------ ------------------------------------------------------------------- -------------------
         31.1 31           Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of
                           2002
         31.2 31           Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of
                           2002
     Item 32.
------------- ------------ ------------------------------------------------------------------- -------------------
         32.1 32           Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of
                           2002.
         32.2 32           Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of
                           2002.
</TABLE>

(1) Incorporated by reference from the current report on Form 8-K, June 6, 2001.
(2) Incorporated by reference from the Form 10-QSB, June 30, 2001.

         (b)  Reports on Form 8-K.  The Company did not file any reports on Form
8-K during the quarter ended September 30, 2003




<PAGE>



                                   SIGNATURES

         In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                             SCIENTIFIC ENERGY, INC.

Date: October 24, 2003                     By: /S/ Todd B. Crosland
                                           ------------------------------------
                                           Todd B. Crosland
                                           President and Chief Financial Officer
                                           (Principal Executive Officer)


Date: October 24, 2003                     By: /S/ Jana Meyer
                                           ------------------------------------
                                           Jana Meyer
                                           Secretary/Treasuer and Director
                                           (Principal Financial and Accounting
                                            Officer)