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 March 31, 2002

[ ]   TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE EXCHANGE ACT

      For the transition period from ___________ to ___________


                       Commission file number:  000-32711

                            UNIVERSAL ICE BLAST, INC.
        (Exact name of small business issuer as specified in its charter)

            Nevada                                       88-0360067
(State or other jurisdiction of             (IRS  Employer  Identification  No.)
 incorporation or organization)

                    533 6th Street South, Kirkland, WA 98033
                    (Address of principal executive offices)

                                 (425) 893-8424
                           (Issuer's telephone number)

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

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS
Check  whether  the  registrant  filed  all documents and reports required to be
filed  by  Section l2, 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
State the number of shares outstanding of each of the issuer's classes of common
equity,  as  of  the  latest  practicable  date:  34,166,654 at April 30, 2002.














<page>
                            UNIVERSAL ICE BLAST, INC.
                                   FORM 10-QSB
                                TABLE OF CONTENTS


                         Part I - Financial Information

Item 1. Consolidated Financial Statements (Unaudited)                         3


Item 2. Management's Discussion and Analysis of Financial Condition and
        Results  of  Operations                                              12

Item 3.  Quantitative and Qualitative Disclosure about Market Risk           15

                          Part II - Other Information

Item 1. Legal Proceedings                                                    15

Item 2. Changes in Securities                                                15

Item 3. Defaults Upon Senior Securities                         (a)

Item 4. Submission of Matters to a Vote of Security Holders     (a)

Item 5. Other Information                                       (a)

Item 6. Exhibits and Reports on Form 8-K                                     15

Signatures Page                                                              16




(a)  There  are  no  issues  requiring  disclosure for these items and they have
therefore  been  omitted


























<page>
                            UNIVERSAL ICE BLAST, INC.
                                   FORM 10-QSB
                         For the period ended March 31, 2002



                          PART  I.  FINANCIAL  INFORMATION



ITEM  1.  CONSOLIDATED  FINANCIAL  STATEMENTS



                            UNIVERSAL ICE BLAST, INC.
                           CONSOLIDATED BALANCE SHEETS



                                                   March 31,      December 31,
                                                     2002             2001
                                                  (Unaudited)
                                                 --------------  --------------
                                     ASSETS

CURRENT  ASSETS

    Cash and cash equivalents                    $      25,768   $      54,455
    Accounts receivable - trade                        263,409         347,147
    Interest receivable on shareholder notes            18,746             -
    Inventory                                          383,900         322,090
    Prepaid  expenses  and  other                       12,227             -
                                                 --------------  --------------
       Total  current  assets                          704,050         723,692

EQUIPMENT,  net                                        204,185         230,166
OTHER  ASSETS                                           10,525          10,525
                                                 --------------  --------------

       Total  assets                             $     918,760   $     964,383
                                                 ==============  ==============





















<page>
                            UNIVERSAL ICE BLAST, INC.
                           CONSOLIDATED BALANCE SHEETS



                                                   March 31,      December 31,
                                                     2002             2001
                                                  (Unaudited)
                                                 --------------  --------------

                      LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT  LIABILITIES
    Accounts  payable                            $     378,263   $     467,982
    Notes  payable                                     217,810         123,000
    Accrued  liabilities                                28,570          40,087
    Customer  deposits                                  25,000             -
    Advances  from officers                             32,847          62,087
    Deferred  revenue                                  420,852         341,327
    Current portion of capital lease
      obligations and long-term debt                   101,666         108,335
                                                 --------------  --------------
       Total  current  liabilities                   1,205,008       1,142,818
                                                 --------------  --------------

LONG-TERM  LIABILITIES
    Capital lease obligations,
      net of current portion                            44,685          57,109
    Long-term debt, net of current portion             129,557         141,964
    Deferred gains from sale/leasebacks                 25,712          28,895
    Deferred officers' compensation                    116,262         116,262
                                                 --------------  --------------
Total  long-term  liabilities                          316,216         344,230
                                                 --------------  --------------

STOCKHOLDERS' DEFICIT
    Preferred stock, $0.001 par value, 5,000,000
      shares authorized, none issued                       -               -
    Common stock, $0.001 par value, 100,000,000
     shares authorized, 34,166,654 and
     33,109,654 shares issued and outstanding
     in  2002  and  2001, respectively                  34,166          33,109
    Additional  paid-in capital                      4,227,925       4,085,370
    Shareholder notes receivable                    (1,169,650)     (1,169,650)
    Stock options and warrants                         103,654          84,738
    Accumulated  deficit                            (3,798,559)     (3,556,232)
                                                 --------------  --------------
       Total stockholders' deficit                    (602,464)       (522,665)
                                                 --------------  --------------
Total liabilities and stockholders' deficit      $     918,760   $     964,383
                                                 ==============  ==============








    The accompanying notes are an integral part of these consolidated financial
                                   statements.

<page>
                            UNIVERSAL ICE BLAST, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

                                                  Three Months Ended March 31,
                                                 ------------------------------
                                                     2002             2001
                                                 --------------  --------------
REVENUE
  Sales  of  machines  and  accessories          $       3,594   $       3,183
  Service  and  rental  income                          42,906          65,464
                                                 --------------  --------------
     Total Revenue                                      46,500          68,647
                                                 --------------  --------------

COST  OF  REVENUE
  Machines  and  accessories                               625             -
  Service  and  rental                                  36,087          35,719
                                                 --------------  --------------
     Total Cost of Revenue                              36,712          35,719
                                                 --------------  --------------

     Gross Profit                                        9,788          32,928
                                                 --------------  --------------

OPERATING  EXPENSES
  General  and  administrative                         184,590         124,931
  Research  and  development                            42,416          46,174
  Selling  and  marketing                               20,795          13,455
                                                 --------------  --------------
     Total Operating Expenses                          247,801         184,560
                                                 --------------  --------------

OPERATING LOSS                                        (238,013)       (151,632)
INTEREST  INCOME                                        19,098             -
INTEREST  EXPENSE                                      (23,412)         (9,753)
                                                 --------------  --------------

NET  LOSS                                        $    (242,327)  $    (161,385)
                                                 ==============  ==============

BASIC  AND  DILUTED  NET  LOSS  PER  SHARE       $       (0.01)  $       (0.01)
                                                 ==============  ==============

WEIGHTED AVERAGE SHARES OUTSTANDING USED IN
  BASIC AND DILUTED PER-SHARE CALCULATION           33,207,432      20,919,560
                                                 ==============  ==============












    The accompanying notes are an integral part of these consolidated financial
                                   statements

<page>
                            UNIVERSAL ICE BLAST, INC.
                 CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT
                        THREE MONTHS ENDED MARCH 31, 2002
                                   (UNAUDITED)

<table>
                      Common  Stock         Additional    Shareholder   Stock
                --------------------------  Paid-in       Notes         Options       Accumulated
                Shares        Amount        Capital       Receivable    and Warrants  Deficit       Total
                ------------  ------------  ------------  ------------  ------------  ------------  ------------

             <c>           <c>           <c>           <c>           <c>           <c>           <c>
BALANCE,
Dec.31, 2001      33,109,654  $    33,109   $ 4,085,370   $(1,169,650)  $    84,738   $(3,556,232)  $  (522,665)

Common stock
 issued for cash     780,000          780       116,182           -             -             -         116,962

Shares and
 warrants issued
 to consultants
 providing
 services to
 the Company         277,000          277        26,373           -          15,916           -          42,566

Stock options
 issued as
 compensation            -            -             -             -           3,000           -           3,000

Net  loss                -            -             -             -             -        (242,327)     (242,327)
                ------------  ------------  ------------  ------------  ------------  ------------  ------------
BALANCE,
March 31, 2002    34,166,654  $    34,166   $ 4,227,925   $(1,169,650)  $   103,654   $(3,798,559)  $  (602,464)
                ============  ============  ============  ============  ============  ============  ============
</table>































    The accompanying notes are an integral part of these consolidated financial
                                   statements

<page>
                            UNIVERSAL ICE BLAST, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

                                                  Three Months Ended March 31,
                                                 ------------------------------
                                                     2002             2001
                                                 --------------  --------------
CASH  FLOWS  FROM  OPERATING  ACTIVITIES
  Net loss                                       $    (242,327)  $    (161,385)
  Adjustments to reconcile net loss to net
  cash from operating activities
    Depreciation  and  amortization                     26,569          21,339
    Common stock and warrants issued for
      goods  and  services                              42,566             -
    Stock options issued as compensation                 3,000             -
    Amortization of deferred stock-based
      compensation                                         -             1,500
    Amortization of deferred gain on
      sale/leaseback transactions                       (3,183)          (3,183)
  Changes in operating assets and liabilities
    Accounts receivable - trade                         83,738           (3,835)
    Accounts receivable - related parties                  -             (4,131)
    Interest receivable on shareholder notes           (18,746)             -
    Inventory                                          (61,810)          (4,210)
    Prepaid expenses and other                         (12,227)         (29,940)
    Accounts payable                                   (18,169)          (1,517)
    Accrued  liabilities                               (11,517)         (16,891)
    Due to related parties                                 -                (50)
    Deferred  revenue                                   79,525              -
    Deferred officers' compensation                        -             24,221
    Customer  deposits                                  25,000              -
                                                 --------------  --------------
Net  cash  used in operating activities               (107,581)       (178,082)
                                                 --------------  --------------

CASH  FLOWS  FROM  INVESTING  ACTIVITIES
  Purchases  of  equipment                                (588)            -
                                                 --------------  --------------
Net cash used in investing activities                     (588)            -
                                                 --------------  --------------

CASH  FLOWS  FROM  FINANCING  ACTIVITIES
  Payments on capital lease  bligations                (18,063)        (14,596)
  Proceeds from borrowings on notes payable             56,260             -
  Proceeds from issuance of common stock               116,962         168,649
  Payments on advances from officers                   (29,240)        (27,984)
  Payments on long-term debt                           (13,437)         (5,927)
  Payments of notes payable                            (33,000)            -
                                                 --------------  --------------
Net cash provided by financing  activities              79,482         120,142
                                                 --------------  --------------
DECREASE  IN  CASH  AND  CASH  EQUIVALENTS             (28,687)        (57,940)

CASH  AND  CASH  EQUIVALENTS
  Beginning  of  period                                 54,455          66,413
                                                 --------------  --------------
       End  of  period                           $      25,768   $       8,473
                                                 ==============  ==============

The accompanying notes are an integral part of these consolidated financial
                                   statements.
<PAGE>
                            UNIVERSAL ICE BLAST, INC.
                CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
                                   (UNAUDITED)

                                                  Three Months Ended March 31,
                                                 ------------------------------
                                                     2002             2001
                                                 --------------  --------------

SUPPLEMENTAL CASH FLOW DISCLOSURE:
  Interest  paid                                 $      15,609   $       7,514
                                                 ==============  ==============

  Income  taxes  paid                            $         -     $         -
                                                 ==============  ==============

NON-CASH INVESTING AND FINANCING TRANSACTIONS

Conversion of accounts payable to note payable   $      71,550   $         -

Stock options issued as compensation             $       3,000   $         -

Common stock and warrants issued for
  goods  and  services                           $      42,566   $         -



































    The accompanying notes are an integral part of these consolidated financial
                                   statements

<page>
                            UNIVERSAL ICE BLAST, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                        THREE MONTHS ENDED MARCH 31, 2002
                                   (UNAUDITED)

NOTE  1  -  BASIS  OF  PRESENTATION  OF  UNAUDITED INTERIM FINANCIAL INFORMATION

     The  accompanying  unaudited  financial  statements  have  been prepared in
accordance with accounting principles generally accepted in the United States of
America  for  interim  financial statements and with instructions to Form 10-QSB
pursuant to the rules and regulations of the Securities and Exchange Commission.
Accordingly,  they  do not include all of the information required by accounting
principles  generally  accepted  in  the  United States of America  for complete
financial  statements.  The  accompanying financial statements should be read in
conjunction  with  the  audited consolidated financial statements of the Company
included  in  the  Company's  December  31,  2001  Annual Report on Form 10-KSB.

     In  the  opinion  of management, all adjustments, consisting only of normal
recurring  accruals  considered  necessary  for  a  fair presentation, have been
included.  The  results of operations for the three-month period ended March 31,
2002  are not necessarily representative of operating results to be expected for
the  entire  fiscal  year.

NOTE  2  -  USE  OF  ESTIMATES

     The  preparation  of  financial  statements  in  conformity with accounting
principles  generally  accepted  in  the   United  States  of  America  requires
management to make estimates and assumptions that affect the amounts reported in
the  financial  statements  and  accompanying notes. Actual results could differ
from  those  estimates.

NOTE  3  -  FINANCIAL  CONDITION,  LIQUIDITY  AND  GOING  CONCERN

   The Company's consolidated financial statements have been prepared on a going
concern  basis,  which  contemplates the realization of assets and settlement of
liabilities and commitments in the normal course of business for the foreseeable
future.  Since inception in 1995, the Company has accumulated losses aggregating
$3,798,000,  including a loss of $242,000 for the three-month period ended March
31,  2002.

   The  Company  had  a  working capital deficit of $500,000 and a stockholders'
deficit  of  $602,000  at  March  31,  2002.  Management's  plans  for continued
existence include a focus towards rental and sale of ice blast machines and away
from services. The Company is actively pursuing marketing arrangements for their
products  in the precision, environmental and industrial cleaning markets. These
efforts  include the arrangement with Ford Motor Company as more fully described
in  Note  5.  The  Company's  future  success  is  dependent upon its ability to
achieve  profitable  operations and generate cash from operating activities, and
upon  obtaining  additional  financing.  There  is no assurance that the Company
will  be able to generate sufficient cash from operations or through the sale of
additional  shares  of  common  stock  or  from  additional  borrowings.

   As further described in Note 9, during the three months ended March 31, 2002,
the  Company  converted  approximately  $72,000 in trade accounts payable to one
supplier to a short-term note payable bearing interest at an annual rate of 18%.
The  Company's  ability  to obtain additional cash could have a material adverse
effect  on  its  financial  position,  results  of operations and its ability to
continue  in existence. The consolidated financial statements do not include any
adjustments  that  might  result  from  the  outcome  of  this  uncertainty.



<page>
                            UNIVERSAL ICE BLAST, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                        THREE MONTHS ENDED MARCH 31, 2002
                                   (UNAUDITED)

NOTE  4  -  COMMON  STOCK

During  the three months ended March 31, 2002, the Company issued 780,000 shares
of  common stock through private placements under Section 4(2) of the Securities
Act  in  the  aggregate  amount  of $116,962 to four investors, all of whom were
accredited  investors  and/or  existing shareholders of the Company.  During the
same period, under Section 4(2) of the Securities Act the Company issued 277,000
shares  of  common  stock  and  100,000 warrants to four investors for goods and
services  having a fair market value of $42,566.  All common shares issued above
are  restricted  subject  to  Rule  144.

NOTE  5  -  STOCK  OPTIONS  AND  WARRANTS

     The  Company has a stock option plan under which employees, consultants and
others  may  be  awarded  incentive  or  non-statutory  stock  options. The plan
authorizes  the  grant  of options for the purchase of up to 6 million shares of
common  stock.  At  December  31,  2001  options  outstanding, all of which were
non-statutory,  totaled  1,021,175.  New  options  to purchase 650,000 shares of
stock were granted to employees at prices from $0.20 to $0.25 during the quarter
ended  March 31, 2002.  Of the options granted, 350,000 vested immediately, with
the  balance  vesting  over  four  years.  Based  on the intrinsic value method,
150,000  of the vesting options included a compensation element in the amount of
$3,000.

NOTE  6  -  CONTRACT  WITH  THE  FORD  MOTOR  COMPANY

     During 2001 the Company designed, assembled, and installed a precision gear
cleaning  ice  blast  system under the terms of a purchase order from Ford Motor
Company.  The  purchase  order  is  for  a  price of approximately $341,000 with
commitments  for an additional three similar systems. Ford's commitments will be
automatically  triggered  upon  Ford's  acceptance of the first system, which is
required  within 90 days of installation.  The gear cleaning system became fully
operational  in  March  2002 after several factory-induced delays. The system is
required  to  undergo  three  months  of  testing  as  part  of  the  Six  Sigma
Implementation  Ready  process.

The  Company  has  recognized no revenue from the Ford system during the quarter
ended  March  31,  2002.  Likewise, during the year ended December 31, 2001, the
Company  recognized  no  revenue  with the exception of approximately $55,000 of
engineering  design  fees  that are in addition to the price of the system.  The
remaining  $341,000  has  been  deferred  and  will  be recognized as sales upon
acceptance  of  the  Ice  Blast  precision  cleaning  system  by  the  customer.

NOTE  7  -  FOREIGN  OPERATIONS

During  the  three  month  period  ended  March 31, 2002, the Company reached an
agreement  in  principle to acquire certain assets of its Dutch distributor. The
Company  is  in the process of forming a Dutch subsidiary in order to consummate
the  transaction.  Terms are still being negotiated and no definitive agreements
have  been  signed.  The  Company expects to finalize the formation of its Dutch
subsidiary  and  the  acquisition  of  these assets during the second quarter of
fiscal  2002.





<page>
                            UNIVERSAL ICE BLAST, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                        THREE MONTHS ENDED MARCH 31, 2002
                                   (UNAUDITED)

NOTE  8  -  COMMITMENTS  AND  CONTINGENCIES

   Certain  vendors  of  the  Company  have threatened to bring legal action for
payment  of overdue amounts. One suit has been filed.  The Company is working to
resolve  these issues.  In addition, a former sales representative is attempting
to  collect disputed commissions.  All reasonable amounts relating to these past
due  and  disputed  liabilities  have been accrued in the accompanying financial
statements.

NOTE  9  -  SUBSEQUENT  EVENTS

   Subsequent  to  March  31,  2002,  The  Company received payments on accounts
receivable  from  Ford of approximately $77,000.  Approximately $32,000 of these
proceeds  were  used  to  repay  a  note  payable  as  further  described below.

   Subsequent to March 31, 2002, the Company repaid a note payable in the amount
of  approximately  $32,000  and subsequently borrowed an additional $32,000 from
the  same  lender.  The  new  note is collateralized by accounts receivable from
Ford  and bears interest at an annual rate of 12%. The note is to be repaid upon
the  receipt of accounts receivable payments from Ford.  The Company also issued
a  note  payable to another lender subsequent to March 31, 2002 in the amount of
$25,000.  The  note  is also collateralized by accounts receivable from Ford and
bears  interest  at  an  annual rate of 12%.  This note is to be repaid upon the
receipt  of  accounts  receivable  payments  from  Ford.  The  terms of the note
include  conversion rights allowing the note holder to convert any or all of the
note  balance  to  common  stock  in  the Company at a value of $0.15 per share.

   Subsequent  to March 31, 2002 the Company extended the term of the short term
note  payable to a supplier described in Note 3.  The new note payable is in the
amount  of  approximately  $72,000  and bears interest at an annual rate of 18%.
One  half  of  the principal balance is due on August 1, 2002 with the remaining
balance  due on November 1, 2002.  The note is secured by personal guarantees of
the  two  founders  of  Universal  Ice  Blast,  Inc.
























<page>
                            UNIVERSAL ICE BLAST, INC.
                                   FORM 10-QSB
                       For the period ended March 31, 2002

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

   The  following discussion and analysis should be read in conjunction with the
Company's  interim  consolidated financial statements included elsewhere in this
Quarterly  Report on Form 10-QSB (the "Quarterly Report") and with the Company's
consolidated  annual  financial  statements  and   management's  discussion  and
analysis  included  in  the  Company's  December  31, 2001 Annual report on Form
10-KSB  (the  "Annual  Report").

   Certain forward-looking  statements  contained herein regarding the Company's
business  and  prospects  are  based  upon  numerous  assumptions  about  future
conditions,  which  may ultimately prove to be inaccurate and actual results may
materially  differ  from  anticipated  results described in such statements. The
Company's  ability  to  achieve  such  results  is  subject to certain risks and
uncertainties,  such  as  the impact of competition and pricing, changing market
conditions,  general  economic  conditions,  the Company's history of losses and
need  for  additional  capital  and  other risks. Forward-looking statements are
identified by words such as "believe", "anticipate", "expect", "intend", "plan",
"will",  "may",  "confident"  and other similar expressions. Any forward-looking
statements  contained  herein  represent  the  Company's judgment as of the date
hereof.  The Company disclaims, however, any intent or obligation to update such
forward-looking  statements.  As  a result, the reader is cautioned not to place
undue  reliance  on  any  forward-looking  statements  contained  herein.


                              RESULTS OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 2002 COMPARED TO THREE MONTHS ENDED MARCH 31, 2001

     During  the three months ended March 31, 2002, revenues decreased by 28% to
$46,000 as compared to the three months ended March 31, 2001. First quarter 2002
sales  of  machines  and  accessories increased to $4,000 from $3,000 during the
comparable three month period of 2001, while service and rental income decreased
52%  to $43,000 during the three months ended March 31, 2001 from $65,000 during
the  comparable  period  of  2001. The Company sold no machines during the first
three  months of both 2002 and 2001.  However, orders were received and assembly
initiated  on  three  machines  for  customers other than Ford.  The Company has
invoiced customers for approximately $80,000 on these orders but all revenue has
been  deferred  until  the  machines  are  complete, shipped and accepted by the
customers.  Machine  revenue  represents  the  amortization of deferred gains on
sale/leaseback  transactions  originating  in 1999.  The decrease in service and
rental  income  is attributable to a fewer service jobs performed during 2002 as
well  as  the  Company's  focus  on  installation and support of the Ford system
during  2002  at  the  expense  of  potential  rental  opportunities.

     Gross  profit  decreased to $10,000 during the three months ended March 31,
2002 as compared to $33,000 during the comparable period of the prior year. As a
percent  of  sales,  gross profit decreased to 21% during the three months ended
March  31,  2002  as compared to 48% during the comparable period of 2001. Gross
profits  from  sales  of  machines  and accessories remained unchanged at $3,000
during the first three months of 2002 compared to the comparable 2001 period due
primarily  to  the  fact  that  no machine were sold during either period. Gross
profits  from  services  and  rental income decreased to $7,000 during the three
months  ended March 31, 2002 as compared to $30,000 for the comparable period of
2001.  The  $23,000  decrease  in  service and rental gross profit is the result
lower  rental  and  service  rates  obtained  on  2002  work  and an increase in
depreciation  expense  on  new  equipment.
<page>
                            UNIVERSAL ICE BLAST, INC.
                                   FORM 10-QSB
                       For the period ended March 31, 2002

     For  the  three  months  ended  March  31, 2002, general and administrative
expense  increased 47% to $184,000 from $125,000 during the comparable period of
2001.  The  $59,000  increase  is  the  result of increased payroll costs, which
include  the  appointment of a Chief Engineer, as well as increased fees paid to
financing  and  public  relations  consultants.

     Research  and development expenses decreased 9% to $42,000 during the three
months  ended March 31, 2002 as compared to $46,000 during the comparable period
of  2001. The $4,000 decrease in research and development expenses is the result
of  lower  patent  expenses in 2002. The Company expects to incur additional R&D
costs  in connection with the Ford project throughout the manufacturing process,
as  new  engineering  and  operational  issues  arise. The actual amount of such
costs,  while expected to be significant, cannot be determined at this time. All
costs  of  engineering  consulting and prototype development related to the Ford
project  are  being  expensed  as  research  and  development  costs.

     Selling and marketing expenses increased $8,000 to $21,000 during the three
months ended March 31, 2002 as compared to $13,000 for the comparable prior year
period.  The  increase  in selling and marketing expenses is attributable to the
hiring  of  a  Vice  President  of  Sales  &  Marketing  in  early  2002.

     The  Company's  operating  losses  increased by $86,000 to $238,000 for the
three  months ended March 31, 2002 from $152,000 for the comparable 2001 period.
The  $23,000  decrease in gross profit on service and rental sales combined with
the  $59,000  increase  in general and administrative expenses accounted for the
increase  in  operating  losses.  Management  anticipates  incurring  additional
future  operating  losses  through  the  remainder  of  2002.

     During  the  quarter  ended  March  31, 2002, the Company recorded interest
income  in the amount of $19,000 in connection with Shareholder notes receivable
in  the  aggregate  amount  of  approximately  $1,170,000. The Shareholder notes
receivable  resulted  from  the Company's issuance of common stock to a officers
and  employees  during the year ended December 31, 2001. The Company reported no
interest  income  during  the  three  month  period  ended  March  31,  2001.

     Interest  expense  increased  by $13,000 to $23,000 during the three months
ended  March  31, 2002 as compared to $10,000 for the comparable three months of
the  prior  year.  This increase is the result of interest on new long-term debt
and  notes  payable which the company incurred in late 2001 and early 2002. As a
result  of  the Company's working capital deficit of $500,000, interim financing
necessary  to  settle  operating  liabilities  arising  from  the  assembly  and
installation  of  the  Ford  gear  cleaning  system  as  well  as to cover other
operating  expenses  is  anticipated  to be expensive if adequate equity capital
cannot  be  raised. Should the Company be required to finance anticipated future
operations  with  debt  as  opposed  to  equity,  future interest expense can be
expected  to  increase  significantly.

FINANCIAL  CONDITION,  LIQUIDITY  AND  CAPITAL  RESOURCES

   As  of  March 31, 2002, the Company had cash and cash equivalents of $26,000.
During  the  quarter  ended  March  31,  2001, operating activities used cash of
$108,000  as compared to $178,000 during 2001. Cash used by operating activities
resulted  primarily  from  the  Company's  net  loss reduced by depreciation and
amortization  and  other  non-cash  charges.  The  Company used cash of $600 for
capital expenditures during the three months ended March 31, 2002 as compared to
zero  for  2001. The Company has no significant commitments for future purchases
of  capital  assets.

<page>
                            UNIVERSAL ICE BLAST, INC.
                                   FORM 10-QSB
                       For the period ended March 31, 2002

   Financing  activities provided cash of $79,000 during the quarter ended March
31,  2001  as compared to $120,000 during 2001. Cash has been provided primarily
from  sale  of Company Common Stock, which provided $117,000 and $169,000 during
2002  and 2001, respectively. Payments on capital lease obligations used cash of
$18,000  and  $15,000 during 2002 and 2001. Proceeds from notes payable provided
cash  of $56,000 in 2002 while repayments of notes payable used cash of $33,000.
No  notes  payable  activity  occurred in the three months ended March 31, 2001.
Long-term  debt  repayments  were $13,000 in 2002 as compared to $6,000 in 2001.
The Company borrows and repays, on a revolving basis, cash advances from its two
Founders and Officers. Repayment of such advances totaled $29,000 and $28,000 in
2002  and  2001,  respectively.

   The  Company  had  a  working capital deficit of $500,000 and a stockholders'
deficit  of  $602,000  at  March  31,  2002.  Management's  plans  for continued
existence include a focus towards rental and sale of ice blast machines and away
from services. The Company is actively pursuing marketing arrangements for their
products  in the precision, environmental and industrial cleaning markets. These
efforts  include the arrangement with Ford Motor Company as more fully described
in  Note  6.  The  Company's  future  success  is  dependent upon its ability to
achieve  profitable  operations and generate cash from operating activities, and
upon  obtaining  additional  financing.  There  is no assurance that the Company
will  be able to generate sufficient cash from operations or through the sale of
additional  shares  of  common  stock  or  additional  borrowings.

   The  current  expansion  of  the  Company's business demands that significant
financial  resources  be  raised  to  fund capital expenditures, working capital
needs, debt service and the cash flow deficits expected to be generated over the
next  three  to  six  months  by operating losses. Current cash balances and the
realization  of accounts receivable will not be sufficient to fund the Company's
current business plan beyond the next two months.   Consequently, the Company is
currently seeking convertible debt and/or additional equity financing as well as
the  placement  of  a  credit  facility,  in  the  aggregate  amount of at least
$250,000,  to  fund  the  Company's  immediate  liquidity  needs.  Management is
currently  negotiating  with  existing shareholders as well as other individuals
and  organizations in order to obtain the working capital necessary to meet both
current  and  future  obligations  and  commitments. To further supplement these
activities,  the  Company  has engaged two investment-banking firms to assist in
securing funding, with an objective of raising at least  $2 million.  Management
is  confident that these efforts will produce financing to further the growth of
the  Company.  Nevertheless,  there can be no assurance that the Company will be
able  to  raise additional capital on satisfactory terms or at all. In the event
that  the Company is unable to obtain such additional capital or to obtain it on
acceptable  terms  or  in  sufficient  amounts,  the impact thereof would have a
material  adverse  effect  on  the  Company's  business,  operating  results and
financial  condition  as  well  as its ability to service debt requirements. The
consolidated  financial  statements  do  not  include any adjustments that might
result  from  the  outcome  of  this  uncertainty.

   As  disclosed  in  an  explanatory  paragraph  in  the  Report of Independent
Accountants  on  the  Company's   December  31,  2001   consolidated   financial
statements,  the  foregoing liquidity and financial conditions raise substantial
doubt  about  the  Company's  ability  to  continue  as  a  going  concern.






<page>
                            UNIVERSAL ICE BLAST, INC.
                                   FORM 10-QSB
                       For the period ended March 31, 2002

ITEM  3.   QUANTITATIVE  AND  QUALITATIVE  DISCLOSURE  ABOUT  MARKET  RISK

   The Company believes that it does not have  any material exposure to interest
or commodity risks. The Company does not own any derivative instruments and does
not engage in any hedging transactions.

                           PART II - OTHER INFORMATION

ITEM  1.  LEGAL PROCEEDINGS

   Certain  vendors  of  the  Company  have threatened to bring legal action for
payment of overdue amounts.  One suit has been filed.  The Company is working to
resolve  these issues.  In addition, a former sales representative is attempting
to  collect disputed commissions.  All reasonable amounts relating to these past
due  and  disputed  liabilities  have been accrued in the accompanying financial
statements.

ITEM  2.  CHANGES  IN  SECURITIES

   During  the  three  months  ended  March 31, 2002, the Company issued 780,000
shares  of  common  stock  through  private placements under Section 4(2) of the
Securities  Act  in  the  aggregate amount of $116,962 to four investors, all of
whom  were  accredited  investors  and/or  existing shareholders of the Company.
During  the  same  period,  under Section 4(2) of the Securities Act the Company
issued 277,000 shares of common stock and 100,000 warrants to four investors for
goods  and  services  having  a fair market value of $42,566.  All common shares
issued  above  are  restricted  subject  to  Rule  144.

ITEM  6.  EXHIBITS  AND  REPORTS  ON  FROM  8K.

(a)  Exhibits  -  None.

(b)  Reports  on  Form  8K.   No  reports  on Form 8-K were filed by the Company
during  the  quarter  ended  March  31,  2002.

On  April  8,  2002  the Company filed a report on Form 8-K disclosing that Moss
Adams, LLP had declined to stand for re-appointment as the Company's independent
accountants.  This report also disclosed the fact that the Company had appointed
Williams  &  Webster,  P.S.  as  its  independent  accountants.



















<page>
                            UNIVERSAL ICE BLAST, INC.
                                   FORM 10-QSB
                       For the period ended March 31, 2002

                                   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.


Universal  Ice  Blast,  Inc.



By:     /s/   David  A.  Saporta
-----------------------------------------------
DAVID A. SAPORTA, CHIEF FINANCIAL OFFICER

Date:  May 17, 2002