SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 10-QSB


   Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange
            Act of 1934 for the Quarterly Period Ended March 31, 2002


                         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 of        (I.R.S. Employer

           Incorporation or organization)        Identification No.)


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


                                 (801) 359-2410

                           (Issuer's telephone number)






Check mark  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
for such shorter period that the issuer was required to file such reports),  and
(2) has been  subject  to such  filing  requirements  for the past 90 days.  Yes
[X] No [ ]

State the number of shares outstanding of each of the issuer's classes of common
equity,  as of the latest  practicable  date.  As of March 31, 2002,  issuer had
27,000,000 shares of issued and outstanding common stock, par value $0.001.

Transitional Small Business Disclosure Format:  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   consolidated  balance  sheet  of
Scientific  Energy,  Inc. as of March 31, 2002 and December  31,  2001,  and the
related  consolidated  statements  of  operations  and cash  flows for the three
months ended March 31, 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 statement 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 consolidated financial statements for them to
be in conformity with generally accepted accounting principles.

                                                   Respectfully submitted



                                                   /S/ ROBISON, HILL & CO.
                                                   Certified Public Accountants

Salt Lake City, Utah
May 14, 2002











<PAGE>



                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                           CONSOLIDATED BALANCE SHEET
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                  March 31,      December 31,
                                                                    2002             2001
                                                               ---------------  --------------
ASSETS
Current Assets:
<S>                                                            <C>              <C>
Cash & Cash Equivalents                                        $             -  $           10
Prepaid Expenses                                                             -          64,306
                                                               ---------------  --------------

     Total Current Assets                                                    -          64,316
                                                               ---------------  --------------

Other Assets:
Intangibles                                                             50,000         250,040
                                                               ---------------  --------------

     Total Assets                                              $        50,000  $      314,356
                                                               ===============  ==============

LIABILITIES
Current Liabilities:
Bank Overdraft                                                 $         5,367  $            -
Accounts Payable                                                        31,644          31,692
Accrued Payroll Liabilities                                            131,207           4,085
Note Payable - Shareholder                                             250,985         196,879
                                                               ---------------  --------------

     Total Liabilities                                                 419,203         232,656
                                                               ---------------  --------------

STOCKHOLDERS' EQUITY
Common Stock, Par Value $.001,
   Authorized 100,000,000 shares
   Issued 27,000,000 Shares at
   December 31, 2001                                                    27,000          27,000
Paid-In Capital                                                        223,472         223,472
Deficit Accumulated During the
   Development Stage                                                  (619,675)       (168,772)
                                                               ---------------  --------------

     Total Stockholders' Equity                                       (369,203)         81,700
                                                               ---------------  --------------

     Total Liabilities and Stockholders' Equity                $        50,000  $      314,356
                                                               ===============  ==============
</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
                                                                For the Three     Inception
                                                                Months Ended          of
                                                                  March 31,      Development
                                                                    2002            Stage
                                                               ---------------  --------------
<S>                                                            <C>              <C>
Revenues:                                                      $             -  $            -
                                                               ---------------  --------------

Expenses:
Research & Development                                                   9,543          64,379
General & Administrative                                               151,490         261,594
                                                               ---------------  --------------

     Loss from Operations                                             (161,033)       (325,973)

Other Income (Expense)
Interest, Net                                                           (3,993)         (7,825)
Write-down of Technology and Royalties                                (285,877)       (285,877)
                                                               ---------------  --------------

     Net Loss                                                  $      (450,903) $     (619,675)
                                                               ===============  ==============

Basic & Diluted Loss
Per Share                                                      $        (0.02)
                                                               ===============
</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,
                                                               For the Period        2001
                                                                    Ended        Inception of
                                                                  March 31,      Development
                                                                    2002            Stage
                                                               ---------------  --------------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                            <C>              <C>
Net Loss                                                       $      (450,903) $     (619,675)

Adjustments to Reconcile Net Loss to Net
Cash Used in Operating Activities:
Write-down of Technology and Royalties                                 285,877         285,877

Change in operating assets and liabilities:
(Increase) Decrease in Prepaid Expenses                                (21,531)        (85,837)
Increase (Decrease) in Accounts Payable                                    (48)         31,644
Increase (Decrease) in Bank Overdraft                                    5,367           5,367
Increase (Decrease) in Accrued Expenses                                127,122         131,207
                                                               ---------------  --------------
  Net Cash Used in operating activities                                (54,116)       (251,417)
                                                               ---------------  --------------

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

CASH FLOWS FROM FINANCING ACTIVITIES:
Cash acquired in Merger                                                      -             432
Note Payable Shareholder                                                54,106         250,985
                                                               ---------------  --------------
  Net Cash Provided by Financing Activities                             54,106         251,417
                                                               ---------------  --------------

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

  Cash and Cash Equivalents at End of Period                   $             -  $            -
                                                               ===============  ==============

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the year for:
  Interest                                                     $         1,353  $        2,244
  Income taxes                                                 $             -  $            -

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING
ACTIVITIES: None
Common Stock Exchanged for Technology                          $       250,040  $      250,040
</TABLE>
                       See accompanying notes and accountants' report.


<PAGE>



                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 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 March 31, 2002, 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  months.  Operating  results for interim  periods are not  necessarily
indicative of the results which can be expected for full years.

        In this interim report, the Company, has made a determination to make an
adjustment of $285,877.  This  write-down is made pursuant to the  determination
that,  research on the long life battery  technologies has failed to achieve any
meaningful  results,  the Company is no longer going to fund its research at its
New Mexico  research  facility and that it will terminate its lease,  employment
and royalty agreements, thereby ceasing all forward progress on the research and
development of the Company's technologies.

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 aforementioned determination by
the  Company to  write-down  some of their  technology  assets.  The Company has
incurred net losses of approximately $365,066 for the first quarter of 2002, 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.







<PAGE>



                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2002
                                   (Continued)

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

        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.

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 March
31,  2002,  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.







<PAGE>



                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2002
                                   (Continued)

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

Nature of Business

         The Company plans to enter into a written agreement with  Grandway-USA,
and its sister  company in Taiwan and China for such  entities to fund  research
toward the  development  and  manufacture  of an extended  life battery pack for
lap-top  computers.  There can be no assurance  that such an  agreement  will be
reached and finalized on terms and  conditions  acceptable to the Company or, if
an agreement is reached, that the development efforts will results in marketable
products or revenues to the Company.

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

        The reconciliations of the numerators and denominators of the basic loss
per share computations are as follows:
<TABLE>
<CAPTION>
                                                                                  Per-Share
                                                  Income           Shares           Amount
                                                  ------           ------           ------
                                                (Numerator)     (Denominator)

                                                 For the Three Months Ended March 31, 2002
Basic Loss per Share
<S>                                             <C>              <C>           <C>
Loss to common shareholders                     $ (450,903)      27,000,000    $      (0.02)
                                                ==========       ==========    ============
</TABLE>

        As of March 31, 2002, there are no common stock equivalents.




<PAGE>



                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2002
                                   (Continued)

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

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.

NOTE 2 - INCOME TAXES

        As of March 31, 2002, the Company had a net operating loss  carryforward
for income tax reporting  purposes of approximately  $534,000 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.

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 March 31, 2002 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.

        The Company,  as of the date of this report has terminated  their office
space for a research lab in New Mexico.  During the first  quarter of 2002,  the
Company decided to move its research to a new facility in Taiwan and China.





<PAGE>



                             SCIENTIFIC ENERGY, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2002
                                   (Continued)

NOTE 5 - EMPLOYMENT CONTRACTS / ROYALTY AGREEMENT

        The Company,  as of the date if this report,  has terminated all royalty
agreements  and  employment  contracts  with Paul Thomas,  Daryl  Conley,  David
Sanders and Otis H. Sanders. The royalty agreements provided for a royalty of 5%
of the  gross  manufacturing  cost of the  product  invented  by such  inventor.
Payment  of  royalties  was due on or before  the 30th day after  each  calendar
quarter for the previous quarter's manufacturing costs. No actual royalties were
ever paid,  however,  the royalty  agreements also provided for advances against
future royalties.

        The annual  salaries  and  royalty  advances  that  resulted  from these
agreements for each of these individuals were as follows:
<TABLE>
<CAPTION>
                                                            Annual          Annual
                         Name                              Salaries        Advances
------------------------------------------------------  -------------------------------

<S>                                                     <C>             <C>
Paul Thomas                                             $         8,000 $        15,996
Daryl Conley                                            $        14,000 $        27,996
David Sanders                                           $         8,000 $        15,996
Otis H. Sanders                                         $        20,000 $        39,966
                                                        -------------------------------

     Total                                              $        50,000 $        99,954
                                                        =============== ===============
</TABLE>
NOTE 6- 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 THREE MONTHS ENDED MARCH 31, 2002
                                   (Continued)

NOTE 7 - LINE OF CREDIT / NOTE PAYABLE - SHAREHOLDER

        On  August15,  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 March 31, 2002 the  Company has  borrowed  $250,985  against  this line of
credit and has been  reported  along with accrued  interest in the  accompanying
financial statements as "Note Payable Shareholder."




<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 March 31,
2002,  the  Company  owes  $250,985  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 March 31, 2002,  the Company had total assets of $50,000,  consisting
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 March 31, 2002,  were $419,203,
consisting of accounts payable and accrued expenses of $162,851 and note payable
shareholder of $250,985.

Results of Operations

        For the three months ended March 31,  2002,  general and  administrative
expenses  were  $151,490  and  research and  development  expenses  were $9,543.
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 March 31, 2002, 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 March 31, 2002 the Company has borrowed  $250,985 against this
line of  credit  and has  been  reported  along  with  accrued  interest  in the
accompanying  financial  statements as "Note Payable  Shareholder".  The 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.


<PAGE>



        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 March 31, 2002, the Company had a net operating loss carry-forward
for income tax reporting  purposes of approximately  $534,000 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:

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

*       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.





<PAGE>



                           PART II--OTHER INFORMATION


                            ITEM 1. LEGAL PROCEEDINGS

    There are  presently  no material  pending  legal  proceedings  to which the
Company or any of its subsidiaries is a party or to which any of its property is
subject and, to the best of its knowledge,  no such actions  against the Company
are contemplated or threatened.


                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.














<PAGE>



ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

    (a) Exhibits:
        --------
<TABLE>
<CAPTION>
               SEC
  Exhibit   Reference
  Number     Number                      Title of Document                                           Location

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

<S>                   <C>                                                                            <C>
    Item 2.           Plan of Acquisition, Reorganization, Arrangement, Liquidation or
                      Succession
       2.012          Agreement and Plan of Reorganization among Quazon Corp.,                        Incorporated by
                      Scientific Energy, Inc., and the stockholders of Scientific Energy, Inc.        reference(1)
                      dated June 6, 2001


     Item 33          Articles of Incorporation and Bylaws
----------------------------------------------------------------------------------------------------- ----------------
       3.013          Amendment to Articles of Incorporation to change the name of the                Incorporated by
                      Company to Scientific Energy, Inc.                                              reference(2)

   Item 10.           Material Contracts

----------------------------------------------------------------------------------------------------- ----------------
      10.0110         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.

      10.0210         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
      10.0310         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
</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 March 31, 2002.




<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: May 15, 2002                  By:    /S/ Todd B. Crosland
                                          --------------------------------------
                                          Todd B. Crosland
                                          President and Chief Financial Officer
                                         (Principal Executive Officer)