UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

     [X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934

          For the Quarterly Period Ended June 30, 2003

     [ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934

          For the transition period from _________ to _________

                        Commission File Number: 0-25963

                             GREENSMART CORPORATION
        ----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

                Delaware                              98-0352588
     ----------------------------------       ---------------------------
     (State or other jurisdiction of               (I.R.S. Employer
     incorporation or organization)               Identification Number)

  Unit C11, 8th Floor, Wing Hing Industrial Building, 14 Hing Yip Street, Hong
                                      Kong
             ------------------------------------------------------
                    (Address of principal executive offices)

                                011-852-2519-3933
                           --------------------------
                          (Issuer's telephone number)

                              AGROCAN CORPORATION
         Suite 706, Dominion Centre, 43-59 Queen's Road East, Hong Kong
              ----------------------------------------------------
   (Former name, former address and former fiscal year, if changed since last
                                    report.)

Check  whether  the issuer (1) filed all reports required to be filed by Section
13  or  15(d) of the Exchange Act during the past 12 months (or for such shorter
period  that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes [X] No [ ]
As  of  June  30, 2003, the Company had 44,342,188 shares of common stock issued
and  outstanding.
Transitional Small Business Disclosure Format:  Yes  [ ]  No  [X]
Documents incorporated by reference:  None.


<PAGE>
                             GREENSMART CORPORATION

                                      INDEX


PART I.   FINANCIAL INFORMATION

     Item 1.  Financial Statements

           Consolidated Balance Sheets
       -  June 30, 2003 (Unaudited) and September 30, 2002 (Audited)

           Consolidated Statements of Operations (Unaudited)
       -  Three Months and  Nine Months Ended June 30, 2003 and 2002

           Consolidated Statements of Cash Flows (Unaudited)
       -  Nine Months Ended June 30, 2003 and 2002

           Notes to Consolidated Financial Statements (Unaudited)
       -  Nine Months Ended June 30, 2003 and 2002

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

PART  II.  OTHER INFORMATION

     Item 2.  Changes in Securities and Use of Proceeds

     Item 6.  Exhibits and Reports on Form 8-K

SIGNATURES


                                        2
<PAGE>
<TABLE>
<CAPTION>
PART 1. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS

                           GREENSMART CORPORATION AND SUBSIDIARIES
                                 CONSOLIDATED BALANCE SHEETS
                            JUNE 30, 2003 AND SEPTEMBER 30, 2002
                                   (UNITED STATES DOLLARS)

                                                           (UNAUDITED)         (AUDITED)
                                                          JUN 30, 2003       SEP 30, 2002
<S>                                                     <C>                <C>
ASSETS
CURRENT ASSETS
  Cash and cash equivalents                             $         43,414   $        128,615
  Accounts receivable, less allowance for
    doubtful accounts of $178,617                                838,360            934,600
  Other receivables and prepayments                               82,598            132,399
  Interest receivable                                             15,490                  -
  Inventories                                                  4,113,319            284,886
  Amount due from related parties, net                           422,415            422,415
  Deferred consulting fees                                        28,575                  -
                                                        -----------------  -----------------

  TOTAL CURRENT ASSETS                                         5,544,171          1,902,915

ADVANCES RECEIVABLE, NET                                         117,952            168,145
PROPERTY, PLANT AND EQUIPMENT - NET                              764,145            673,209
                                                        -----------------  -----------------

  TOTAL ASSETS                                          $      6,426,268   $      2,744,269
                                                        =================  =================

LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
  Short-term loans-unsecured                            $        296,411   $        296,411
  Short-term bank loan                                           114,458            120,482
  Account payable                                                 42,862             82,624
  Other payables and accruals                                     40,140            139,903
  Deposits received                                              269,145            296,375
  Amount due to related parties                                   76,291            341,196
  Income tax payable                                              73,149             72,263
                                                        -----------------  -----------------

  TOTAL LIABILITIES, ALL CURRENT                                 912,456          1,349,254

MINORITY INTEREST                                                 66,255             74,644

SHAREHOLDERS' EQUITY
  Preferred stock, par value US$0.0001
    per share, authorized 10,000,000 shares;
    none issued                                                        -                  -
  Common stock, par value US$0.0001
    per share, authorized 100,000,000 shares;
    issued and outstanding 44,342,188 at June 30, 2003
    and 3,673,304 at September 30, 2002                            4,434                367
  Capital in excess of par value                               6,131,872          1,885,251
  Retained earnings
    Unappropriated                                              (810,307)          (686,805)
    Appropriated                                                 120,457            120,457
  Other comprehensive income                                       1,101              1,101
                                                        -----------------  -----------------

  TOTAL SHAREHOLDERS' EQUITY                                   5,447,557          1,320,371
                                                        -----------------  -----------------

  TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY            $      6,426,268   $      2,744,269
                                                        =================  =================

See notes to consolidated financial statements
</TABLE>


                                        3
<PAGE>
<TABLE>
<CAPTION>
                     GREENSMART CORPORATION AND SUBSIDIARIES
                CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
                FOR THE THREE MONTHS ENDED JUNE 30, 2003 AND 2002
                             (UNITED STATES DOLLARS)

                                                       2003         2002
<S>                                               <C>           <C>
NET SALES                                         $   557,897   $  622,109

COST OF SALES                                         493,699      503,874
                                                  ------------  -----------

GROSS PROFIT                                           64,198      118,235

ADMINISTRATIVE AND GENERAL EXPENSES                   102,983      137,136

SELLING EXPENSES                                       29,939       29,610
                                                  ------------  -----------

LOSS FROM OPERATIONS                                  (68,724)     (48,511)

OTHER INCOME (EXPENSE)
  Interest income                                       5,133        5,920
  Interest expense                                     (1,772)      (2,857)
                                                  ------------  -----------

LOSS BEFORE INCOME TAXES                              (65,363)     (45,448)

INCOME TAXES                                                -        6,410
                                                  ------------  -----------

LOSS BEFORE MINORITY INTEREST                         (65,363)     (51,858)
MINORITY INTEREST                                       1,605        3,224
                                                  ------------  -----------

NET LOSS                                          $   (63,758)  $  (48,634)
                                                  ============  ===========

WEIGHT AVERAGE SHARES OUTSTANDING
  Basic and diluted                                29,116,013    3,061,630

BASIC AND DILUTED LOSS PER SHARES                 $     (0.00)  $    (0.02)
                                                  ============  ===========


  See notes to consolidated financial statements
</TABLE>


                                        4
<PAGE>
<TABLE>
<CAPTION>
                     GREENSMART CORPORATION AND SUBSIDIARIES
                CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
                FOR THE NINE MONTHS ENDED JUNE 30, 2003 AND 2002
                             (UNITED STATES DOLLARS)

                                                      2003         2002
<S>                                               <C>           <C>
NET SALES                                         $ 1,044,032   $1,197,145

COST OF SALES                                         862,998      978,160
                                                  ------------  -----------

GROSS PROFIT                                          181,034      218,985

ADMINISTRATIVE AND GENERAL EXPENSES                   248,013      262,227

SELLING EXPENSES                                       64,570       46,165
                                                  ------------  -----------

LOSS FROM OPERATIONS                                 (131,549)     (89,407)

OTHER INCOME (EXPENSE)
  Interest income                                      15,727       17,888
  Interest expense                                     (5,385)      (6,440)
                                                  ------------  -----------

LOSS BEFORE INCOME TAXES                             (121,207)     (77,959)

INCOME TAXES                                           10,684       10,943
                                                  ------------  -----------

LOSS BEFORE MINORITY INTEREST                        (131,891)     (88,902)
MINORITY INTEREST                                       8,389        4,416
                                                  ------------  -----------

NET LOSS                                          $  (123,502)  $  (84,486)
                                                  ============  ===========

WEIGHT AVERAGE SHARES OUTSTANDING
  Basic and diluted                                12,874,757    2,906,883

BASIC AND DILUTED LOSS PER SHARES                 $     (0.01)  $    (0.03)
                                                  ============  ===========


  See notes to consolidated financial statements
</TABLE>


                                        5
<PAGE>
<TABLE>
<CAPTION>
                     GREENSMART CORPORATION AND SUBSIDIARIES
                CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
                 FOR THE NINE MONTHS ENDED JUNE 30, 2003 AND 2002
                             (UNITED STATES DOLLARS)


                                                             2003         2002
<S>                                                       <C>          <C>
OPERATING ACTIVITIES
Net loss                                                  $ (123,502)  $ (84,486)
Adjustments to reconcile net income to net cash
 provided by (used in) operating activities:
  Common shares issued for directors' remuneration            60,000      90,000
  Amortization of deferred consulting fees                     9,525           -
  Depreciation                                                69,322      56,176
  Minority interest in net loss                               (8,389)     (4,416)
  Decrease in account receivable                              96,240     240,546
  Decrease in other receivables, deposit
     and prepayments                                          49,801       1,971
  (Increase) in interest receivable                          (15,490)          -
  (Increase) in inventories                                  (38,526)   (324,683)
  (Increase) in amounts due from related parties                   -     (47,320)
  (Decrease) in accounts payable                             (39,762)   (112,207)
  (Decrease) increase in tax payable                             886     (12,087)
  (Decrease) in other payables and accruals                  (99,763)    (13,740)
  (Decrease) increase in deposits received                   (27,230)    290,156
  (Decrease) increase in amounts due to related parties      (47,264)     13,263
                                                          -----------  ----------

  Net cash provided by (used in) operating activities       (114,152)     93,173
                                                          -----------  ----------

INVESTING ACTIVITIES
  Decrease in advances receivable                             50,193           -
  Additions to property, plant and equipment                 (15,218)    (40,458)
                                                          -----------  ----------

  Net cash provided by (used in) investing activites          34,975     (40,458)
                                                          -----------  ----------

FINANCING ACTIVITIES
  Repayment of short term bank loan                           (6,024)   (119,639)
  Proceeds from short term loans - unsecured                       -      36,145
                                                          -----------  ----------

  Net cash used in financing activities                       (6,024)    (83,494)
                                                          -----------  ----------

Net decrease in cash and cash equivalents                    (85,201)    (30,779)
Cash and cash equivalents at beginning of period             128,615      71,309
                                                          -----------  ----------
Cash and cash equivalents at end of period                $   43,414   $  40,530
                                                          ===========  ==========

Supplemental schedule of non-cash investing and
financing activities:
  Common shares issued for amount due to related parties  $  277,641   $ 180,071
  Common shares issued for consulting fees                $   38,100   $       -
  Common shares issued for assets acquisition             $3,934,947   $       -


Cash paid during the nine months for income taxes         $    9,798   $  23,030

Cash paid during the nine months for interest             $    5,385   $   6,440


See notes to consolidated financial statements
</TABLE>


                                        6
<PAGE>
GREENSMART CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NINE MONTHS ENDED JUNE 30, 2003 AND 2002
(UNAUDITED)
(EXPRESSED IN UNITED STATES DOLLARS)

1.   THE INTERIM FINANCIAL STATEMENTS

The  interim  financial  statements have been prepared by GreenSmart Corporation
(formerly  known  as  AgroCan  Corporation)  and  in  the opinion of management,
reflect  all  material  adjustments  which  are necessary to a fair statement of
results  for  the  interim  periods  presented,  including  normal  recurring
adjustments.  Certain  information  and  footnote  disclosures  made in the most
recent  annual  financial  statements  included  in our Form 10-KSB for the year
ended  September  30,  2002,  have  been  condensed  or  omitted for the interim
statements.  It  is  our  opinion  that, when the interim statements are read in
conjunction  with  the  September 30, 2002 financial statements, the disclosures
are  adequate  to  make the information presented not misleading. The results of
operations  for the nine months ended June 30, 2003 and 2002 are not necessarily
indicative  of  the operating results for the full fiscal year, as the Company's
business  fluctuates  in accordance with planting seasons resulting in increased
revenues  in  the  second  and  third  quarters.

The  preparation  of  financial statements in conformity with generally accepted
accounting principles requires 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  amount  of  revenues  and expenses during the reporting periods. Management
makes  these  estimates  using  the  best  information available at the time the
estimates  are  made; however, actual results could differ materially from those
results.

On  May  13,  2003,  the  Company  executed  an Asset Acquisition Agreement with
Winsmart  Development  Limited.  The  basic  terms of the agreement are that the
Company  issued  to Winsmart 29,868,737 shares of the Company's common stock and
Winsmart  sold  the  Company  i)  approximately  553,212  young eucalyptus trees
planted  in  a total of 340 leased hectares and ii) a tree seedlings and nursery
farm  with  annual  production  capacity of 10 million seedlings situated on 3.3
leased  hectares.  The  leased  land  is  subject  to  a  50 year lease which is
currently  in  its  first  year.  The assets were valued based on an independent
apprasial  at  $3,774,747 and the price of the Company's stock was determined to
be  $0.126  per  share  to  arrive at the number of shares to issue to Winsmart.


                                        7
<PAGE>
2.   INVENTORIES

Inventories at June 30, 2003 and September 30, 2002 are comprised of the
following:
(Trees held for sale inventories are currently being marketed and are included
in current assets, although a portion of these inventories may not be sold
within one year.)

<TABLE>
<CAPTION>
                      JUNE 30, 2003   SEPTEMBER 30, 2002
                       (UNAUDITED)        (AUDITED)
<S>                  <C>              <C>

                           USD               USD
RAW MATERIALS        $       139,216  $          110,030
FINISHED GOODS               184,196             174,856
                     ---------------  ------------------
                     $       323,412  $          284,886

TREES HELD FOR SALE  $     3,475,919                  --
SEEDLINGS                    313,988                  --
                     ---------------  ------------------
                     $     3,789,907                  --
                     ---------------  ------------------
TOTAL INVENTORIES    $     4,113,319  $          284,886
                     ===============  ==================
</TABLE>

3.   SHORT-TERM LOANS

Short-term  loans-unsecured represent amounts borrowed from third parties. Loans
in  the  amount  of  $296,411 are unsecured, non-interest bearing and payable on
demand.

As  of  June  30,  2003,  the Company has a bank loan of $114,458. The bank loan
bears  interest  at  6.04%  per  annum  and  is  due  on April 2004. The loan is
guaranteed  by  a  customer  of  the  Company.

4.   INCOME TAXES

During  the nine months ended June 30, 2003, our subsidiaries recorded an income
tax  of  $10,684.  We  are  subject to income taxes on an entity basis on income
arising  in  or  derived  from  the  tax  jurisdiction  in  which each entity is
domiciled. Our British Virgin Islands subsidiary is not liable for income taxes.
Our  PRC  subsidiaries  comprise  two wholly owned foreign enterprises and a 70%
held  Sino-Foreign  Equity Joint Venture. PRC Companies are generally subject to
income  taxes  at an effective rate of 33% (30% Chinese national income tax plus
3%  Chinese  state income tax). Two of our PRC subsidiaries, Fenglin and Linmao,
are manufacturing companies operating in special zones, and they are entitled to
a  reduced  national  income  taxes rate of 24%. All the subsidiaries are exempt
from state income tax. Further, pursuant to the approval of the relevant PRC tax
authorities,  all  the  subsidiaries have been granted a "tax holidays", whereby
the subsidiaries are fully exempted from PRC income taxes for two years starting
from  the  year profits are first made, followed by a 50% exemption for the next
three


                                        8
<PAGE>
years.  In  1999,  the  two-year, 100% exemption expired for Fenglin and Linmao,
subjecting  them  to income tax at a rate of 12%. Effective January 1, 2001, the
two-year,  100%  exemption expired for Jiali and it became subject to income tax
at  a  rate  of 15%. Losses incurred by PRC companies may be carried forward for
five  years.  Deferred tax assets and liabilities are not considered material at
June  30,  2003  and  2002.

5.   EARNINGS PER SHARE

Basic earnings per share is based on the weighted average shares of common stock
outstanding.  Diluted  earnings  per  share  assumes the conversion, exercise or
issuance of all potential common stock instruments such as options, warrants and
convertible  securities,  unless  the  effect  is  to  reduce  loss per share or
increase  earnings  per  share.

6.   CHANGES IN SECURITIES

On May 13, 2003, the Board of Directors and stockholders approved an increase in
the  number  of  authorized  common share to 100,000,000. During the nine months
ended June 30, 2003, the Company issued 40,668,884 shares of common stock. Among
those shares, 545,454 shares, with an aggregate value of $60,000, were issued to
two  of  the  Company's directors / officers in lieu of cash as remuneration for
their  services to the Company, 7,254,693 shares were issued to the shareholders
in  lieu  of  cash  as  repayment  to  the  shareholders'  loan of $217,641, and
3,000,000  shares  (see Note 7.) with an aggregate value of $198,300 were issued
to  two  dividuals in lieu of cash for their consulting services to the Company.
In  addition,  29,868,737 shares were issued to Winsmart Development Limited for
the  Assets  Acquisition  Agreement,  with  an aggregate value of $3,774,747. As
disclosed  on May 13, 2003 in a Form 8-K filing with the Securities and Exchange
Commission,  there  was  a change in control as a result of the shares issued to
Winsmart  Development  Limited  related  to  the  Asset  Acquisition  Agreement.

7.   CONSULTING AGREEMENTS

As  disclosed  on  April  7,  2003  in a Form S-8 filing with the Securities and
Exchange  Commission,  on  March  28,  2003,  the  Company entered into one year
consulting  agreements  with  Winnex Enterprises Ltd. and Mr. Wong Wai Hung (the
"Consultants").  The  services  to  be  rendered  include  assisting the Company
through  its  relationships  with  potential  sources on a best efforts basis in
order to identity sources for the acquisition of the Company's equity securities
in  connection  with up to $5,000,000. The agreement calls for 500,000 shares of
freely  tradable shares of common stock to be issued to each consultant upon the
signing  of  the  agreement.  In  accordance  with  SFAS 123 and EITF 96-18, the
Company  has  accounted  for  the  shares  based on the fair market value of the
Company's  stock  at the commencement date of the agreement, and the Company has
recorded  deferred consulting fees and consulting expense of $28,575 and $9,525,
respectively  as  of  June  30, 2003. In the event the consultants introduce the
Company  to any party that leads to merger and / or acquisition transaction with
the  Company  that the Consultants will be compensated at the time of closing of
the  transaction  a  fee  up to six percent each on the transaction based on the
number  of  shares issued by the Company for the transaction.


                                       9
<PAGE>
In  connection  with  the  assets  acquired  from  Winsmart on May 13, 2003, the
Company  issued  2,000,000  shares  to  the  Consultants  for their service. The
Company  has  capitalized  and  allocated  an aggregate value of $160,200 to the
assets acquired, which was based on the fair market value of the Company's stock
at  the  date  of  acquisition.


                                       10
<PAGE>
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Cautionary  Statement  Pursuant  to  Safe  Harbor  Provisions  of  the  Private
Securities  Litigation  Reform  Act  of  1995:

This  Quarterly  Report  on  Form 10-QSB for the quarterly period ended June 30,
2003  contains  "forward-looking"  statements  within the meaning of the Federal
securities  laws.  These  forward-looking  statements  include,  among  others,
statements  concerning  our  expectations  regarding sales trends, gross and net
operating  margin  trends,  political  and economic matters, the availability of
equity  capital  to  fund  our  capital  requirements,  and  other statements of
expectations,  beliefs,  future  plans  and  strategies,  anticipated  events or
trends,  and  similar  expressions  concerning  matters  that are not historical
facts.  The  forward-looking  statements in this Quarterly Report on Form 10-QSB
for  the  quarterly  period  ended  June  30,  2003  are  subject  to  risks and
uncertainties  that  could  cause actual results to differ materially from those
results  expressed  in  or  implied  by  the  statements  contained  herein.

Overview:

GreenSmart  Corporation (formerly known as AgroCan Corporation) was incorporated
on  December  8,  1997 in the State of Delaware. Effective December 31, 1997, we
issued  1,598,646  shares  of common stock, which represented all of the capital
stock  outstanding at the completion of this transaction, to the shareholders of
AgroCan  (China) Inc., a corporation incorporated in the British Virgin Islands,
in  exchange  for  all  of  the  capital  stock  of  AgroCan  (China)  Inc.

Prior  to  the  above  transaction,  we  had no material operations. The AgroCan
(China)  Inc.  transaction  was  accounted  for as a recapitalization of AgroCan
(China)  Inc.,  as  the shareholders of AgroCan (China) Inc. acquired all of the
capital  stock  of the company in a reverse acquisition. Accordingly, the assets
and  liabilities  of  AgroCan (China) Inc. were recorded at historical cost, and
the  shares  of  common  stock  issued  by  the  company  were  reflected in the
consolidated  financial  statements  giving retroactive effect as if we had been
the  parent  company  from  inception.

On  May  13,  2003,  we  executed  an  Asset Acquisition Agreement with Winsmart
Development  Limited.  The  basic  terms  of the agreement are that we issued to
Winsmart  29,868,737  shares  of  our  common  stock  and  Winsmart  sold  us i)
approximately  553,212  young  eucalyptus trees planted in a total of 340 leased
hectares  and  ii)  a  tree  seedlings  and  nursery farm with annual production
capacity  of  10  million  seedlings situated on 3.3 leased hectares. The leased
land  is  subject  to  a 50 year lease which is currently in its first year. The
assets were valued based on an independent appraisal at $3,774,747 and the price
of  our  stock  was determined to be $0.126 per share to arrive at the number of
shares  to  issue  to  Winsmart.

We,  through  AgroCan  (China)  Inc.,  currently  own  100%  interest  in  two
wholly-owned  subsidiaries,  Guangxi Linmao Fertilizer Company Limited ("Guangxi
Linmao")  and Jiangxi Jiali


                                       11
<PAGE>
Chemical Industry Company Limited ("Jiangxi Jiali"). We, through AgroCan (China)
Inc.,  also  own  a  70%  interest  in Jiangxi Fenglin Chemical Industry Company
Limited,  a  Sino-Foreign  Equity  Joint Venture ("Jiangxi Fenglin"). All of the
aforementioned  entities  are located in the People's Republic of China ("China"
or  the  "PRC").

We  account  for  our  interest  in  Jiangxi Fenglin similar to a majority-owned
subsidiary  because of our 70% interest, our contractual ability to appoint four
out  of  six directors to the Board of Directors, which is the highest authority
for  the  joint venture, and our right to appoint the Chairman of the Board. Due
to  the  rights  asserted  by  the  PRC  partner  under  customary joint venture
agreements, joint venture interests in the PRC are generally not consolidated in
the  financial  statements of companies that report under the periodic reporting
requirements  of  the United States Securities and Exchange Commission. However,
as  a  result  of  the  aforementioned  factors  specific  to  Jiangxi  Fenglin,
management  believes  that  it is appropriate to consolidate the joint venture's
operations  into  our  consolidated  financial  statements.

We  produce  various compound fertilizers. These ingredients used are blended in
different  proportions and packed into 50 kilogram bags. As of June 30, 2003, we
have  established  an  annual  production  capacity  of  125,000 metric tons for
compound  fertilizers  in  Guangxi  and Jiangxi, two of the largest agricultural
provinces  in China, and we intend to enter markets in other provinces in China.

The asset acquisition from Winsmart Development Limited represents a significant
addition  to  the  assets  of GreenSmart. The trees acquired are currently being
marketed  and  are  held  for  sale,  and we will also continue to engage in our
fertilizer  business  as  we  see the asset acquisition as a step in growing the
company  into  a  multi-product  agricultural  company.

The  consolidated  financial  statements  of  GreenSmart include the accounts of
GreenSmart  and  our  wholly-owned and majority-owned subsidiaries. All material
intercompany  balances  and  transactions  are  eliminated at consolidation. The
consolidated  financial  statements  have  been  prepared  in  accordance  with
generally  accepted  accounting  principles  in  the United States and have been
presented  in  U.S. Dollars ("$"). The functional currency of our PRC operations
is the Chinese Renminbi ("RMB"). The accounts of foreign operations are prepared
in their local currency and are translated into RMB using the applicable rate of
exchange.  The  resulting  translation adjustments are included in comprehensive
income  (loss).  Transactions  denominated  in  currencies  other  than the U.S.
Dollars  are  translated  into USD using the applicable exchange rates. Monetary
assets  and liabilities denominated in other currencies are translated into U.S.
Dollars  at  the  applicable  rate  of  exchange  at the balance sheet date. The
resulting  exchange  gains or losses are credited or charged to the consolidated
statements  of  operations.

Consolidated Results of Operations:

Three Months Ended June 30, 2003 and 2002:


                                       12
<PAGE>
Sales.     The  sales  for the three months ended June 30, 2003 were $557,897 as
compared  to  sales  of  $622,109  for  the  three months ended June 30, 2002, a
decrease  of  $64,212  or  10.3%. The decrease was due to lower demands from our
major  customers.  In  addition,  during  the  quarter, China, especially in the
southern  part,  was  suffering  from  the  outbreak  of  the  SARS virus, which
contributed  to  a decline in overall economic conditions. We have obtained some
urban  greening  contracts  subsequent  to  the  period ended June 30, 2003, and
management  believes  that revenue for the year ended September 30, 2003 will be
approximately  the  same  as prior year levels however there can be no assurance
that  this  will  occur.

Gross  Profit.     Gross  profit  for  the  three months ended June 30, 2003 was
$64,198 or 11.5% of revenues, as compared to $118,235 or 19% of revenues for the
three  months  ended June 30, 2002. The gross profit margin decreased in 2003 as
compared  to 2002 because the slower economic conditions and lower demand of the
fertilizer  products  caused  us  to  lower the selling price for our fertilizer
products.  Management  believes that the lower profit margin is temporary due to
the  bad  economic conditions during this quarter. Management also believes that
we  will  resume  a higher profit margin in the coming quarter as the SARS virus
has  been  put  under  control.

Administrative and General Expenses.     Administrative and general expenses for
the  three  months  ended  June  30, 2003 were $102,983 or 18.5% of revenues, as
compared  to  $137,136  or  22%  of revenues for the three months ended June 30,
2002,  a  decrease  of  $34,153.  The  decrease is mainly due to lower legal and
professional  fee  and  traveling  expenses  as  compared  to  last  year.

Selling  Expenses.     Selling expenses for the three months ended June 30, 2003
were $29,939 or 5.4% of revenues, as compared to $29,610 or 4.8% of revenues for
the  three  months  ended  June  30,  2002.

Loss  from Operations.     Loss from operations was $68,724 for the three months
ended  June  30,  2003, as compared to a loss from operations of $48,511 for the
three  months  ended  June  30,  2002.

Other Income (Expense).     We recorded interest income of $5,133 and $5,920 for
the  three  months  ended  June  30,  2003  and  2002,  respectively.

We  recorded  interest  expense  of $1,772 and $2,857 for the three months ended
June 30, 2003 and 2002, respectively. As of June 30, 2003, we had a bank loan of
$114,458,  which  bears  interest  at  6.04% per annum and is due on April 2004.

Income  Taxes.          During  the three months ended June 30, 2003, we did not
record  any  income tax. We recognized income tax of $6,410 for the three months
ended  June  30,  2002.

Minority  Interest.     For  the  three  months ended June 30, 2003 and 2002, we
recorded  a  minority interest of $1,605 and $3,224 respectively, to reflect the
interest  of our 30% joint venture partner in the net income of Jiangxi Fenglin.

Net  Loss.     Net loss was $63,758 for the three months ended June 30, 2003, as
compared  to a


                                       13
<PAGE>
net  loss  of  $48,634  for the three months ended June 30, 2002. The reason for
recording  higher  net  loss  for  the three months ended June 30, 2003 than the
three  months  ended  June  30, 2002 was primarily the result of the decrease in
sales  and  decrease  in  profit  margin.

Nine Months Ended June 30, 2003 and 2002:

Sales.     The  sales for the nine months ended June 30, 2003 were $1,044,032 as
compared  to  sales  of  $1,197,145  for  the nine months ended June 30, 2002, a
decrease  of  $153,113  or 12.8%. The decrease was due to lower demands from our
major  customers.  In  addition,  during  the  quarter, China, especially in the
southern  part,  was  suffering  from  the  outbreak  of  the  SARS virus, which
contributed  to  a  decline  in  overall  economic conditions. However, since we
obtained  some  urban greening contracts subsequent to the period ended June 30,
2003,  management  believes  that  revenue for the year ended September 30, 2003
will  be  approximately  the  same  as  prior  year  levels.

Gross  Profit.     Gross  profit  for  the  nine  months ended June 30, 2003 was
$181,034  or 17.3% of revenues, as compared to $218,985 or 18.3% of revenues for
the  nine  months ended June 30, 2002. The gross profit margin decreased in 2003
as  compared  to  2002 because the slower economic condition and lower demand of
the  fertilizer products. We needed to lower the price for selling its products.

Administrative and General Expenses.     Administrative and general expenses for
the  nine  months  ended  June  30,  2003 were $248,013 or 23.8% of revenues, as
compared  to  $262,227  or  21.9% of revenues for the nine months ended June 30,
2002,  a  decrease  of  $14,214.  The  decrease is mainly due to lower legal and
professional  fee  and  traveling  expenses  as  compared  to  last  year.

Selling  Expenses.     Selling  expenses for the nine months ended June 30, 2003
were  $64,570  or  6.2% of revenues, as compared to $46,165, or 3.9% of revenues
for  the  nine  months  ended  June  30,  2002,  an increase of $18,405. Selling
expenses  increased  in  2003 compared to 2002 as a result of higher freight for
delivering  of  our fertilizer products.

Loss  from Operations.     Loss from operations was $131,549 for the nine months
ended  June  30,  2003, as compared to a loss from operations of $89,407 for the
nine  months  ended  June  30,  2002.

Other  Income  (Expense).     We recorded interest income of $15,727 and $17,888
for the nine months ended June 30, 2003 and 2002, respectively.

We recorded interest expense of $5,385 and $6,440 for the nine months ended June
30,  2003  and  2002,  respectively.  As of June 30, 2003, we had a bank loan of
$114,458,  which  bears  interest  at  6.04% per annum and is due on April 2004.

Income  Taxes.          During  the nine months ended June 30, 2003, we recorded
income  tax  of


                                       14
<PAGE>
$10,684.  We recognized income tax of $10,943 for the nine months ended June 30,
2002.

Minority  Interest.     For  the  nine  months  ended June 30, 2003 and 2002, we
recorded  a  minority interest of $8,389 and $4,416 respectively, to reflect the
interest  of our 30% joint venture partner in the net income of Jiangxi Fenglin.

Net  Loss.     Net loss was $123,502 for the nine months ended June 30, 2003, as
compared  to  a net loss of $84,486 for the nine months ended June 30, 2002. The
reason  for recording more net loss for the nine months ended June 30, 2003 than
the  nine  months ended June 30, 2002 was primarily the result of the decreasing
sales  and  lower  profit  margin.

Consolidated  Financial  Condition:

Liquidity and Capital Resources - June 30, 2003

We reported a 12.8% decrease in sales during the nine months ended June 30, 2003
compared to the nine months ended June 30, 2002. Subsequent to the quarter ended
of  June  30,  2003,  we  obtained  urban  greening  contracts  for greening and
environmental  improvement  projects of Suzhou Industrial Park, Jiangsu Province
in  Eastern  China.  The value of the contracts is $450,000. Management believes
that  it  has  adequate  funds to support operations for the current fiscal year
ending  September  30,  2003.

To  address  its  on-going  and  long-term  cash  needs,  we  plan  to  initiate
discussions  with  investment  banks  and  financial institutions and attempt to
raise  funds  to support current and future operations. This includes attempting
to raise additional working capital through the sale of additional capital stock
or  through  additional  bank  or  third party borrowings. We cannot provide any
assurance  that  it  will  be  able  to  raise  any  such  funds.

Operating.     For  the nine months ended June 30, 2003, our operations utilized
cash resources of $114,152 as compared to generating $93,173 for the nine months
ended  June  30,  2002.  Our  operations utilized more cash resources in 2003 as
compared to 2002 primarily as a result of the settlement of other payables, less
collection  from  accounts receivable and less in deposits received. At June 30,
2003,  cash and cash equivalents decreased by $85,201 to $43,414, as compared to
$128,615  at  September  30, 2002. We had working capital of $4,631,715, at June
30,  2003,  as  compared to $553,661 at September 30, 2002, resulting in current
ratios  of  6.1:1  and  1.41:1  at  June  30,  2003  and  September  30,  2002,
respectively.

Accounts  receivable.          Accounts  receivable  decreased  by  $96,240,  to
$838,360  at  June  30,  2003,  from  $934,600  at  September 30, 2002. Accounts
receivable  decreased  during the nine months ended June 30, 2003 as a result of
settlement  of  part  of  the  accounts  receivable  from  customers.

Inventories.          Inventories increased by $3,828,433, to $4,113,319 at June
30,  2003,  from


                                       15
<PAGE>
$284,886  at  September 30, 2002. The significant increase in inventories is due
to  the  asset  acquisition  during  May  2003.

Investing.     During the nine months ended June 30, 2003 and 2002, additions to
property, plant and equipment aggregated $160,258 and $40,458, respectively. The
majority  of  the  additions  is  due  to the asset acquisition during May 2003.

During  the  nine months ended June 30, 2003, there were payments on the advance
receivables  of  $50,193.

Financing.     During  the  nine months ended June 30, 2003 and 2002, one of our
subsidiaries  paid  $6,024  and  $119,639,  respectively, on the short-term bank
loans  and received proceeds of $0 and $36,145, respectively, from the unsecured
short-term  loan.

Inflation  and  Currency  Matters:

In  recent  years, the Chinese economy has experienced periods of rapid economic
growth as well as relatively high rates of inflation, which in turn has resulted
in  the  periodic  adoption  by  the  Chinese  government  of various corrective
measures  designed  to  regulate  growth  and contain inflation. Since 1993, the
Chinese  government  has  implemented  an  economic  program designed to control
inflation,  which has resulted in the tightening of working capital available to
Chinese  business  enterprises.  Our  success depends in substantial part on the
continued  growth  and  development  of  the  Chinese economy. During the fiscal
quarters  ended June 30, 2003 and 2002, inflation and changing prices have had a
minor  impact  on  our  operations  and  financial  position. The actual rate of
inflation  in  the  agricultural sector has been nominal, and the price level of
fertilizer  products  has  been  stable.

Foreign  operations are subject to certain risks inherent in conducting business
abroad,  including price and currency exchange controls, and fluctuations in the
relative  value of currencies. Changes in the relative value of currencies occur
periodically  and  may,  in  certain instances, materially affect our results of
operations.  In  addition,  the  Renminbi is not freely convertible into foreign
currencies,  and  the  ability  to  convert  the  Renminbi  is  subject  to  the
availability  of  foreign  currencies.  Effective  December 1, 1998, all foreign
exchange  transactions involving the Renminbi must take place through authorized
banks  in  China at the prevailing exchange rates quoted by the People's Bank of
China.  We  expect that a portion of its revenues will need to be converted into
other  currencies  to  meet foreign exchange currency obligations, including the
payment  of  any  dividends  declared.

Although  the  central government of China has repeatedly indicated that it does
not  intend  to devalue its currency in the near future, recent announcements by
the  central  government  of  China  indicate  that devaluation is an increasing
possibility.  Should  the  central  government  of  China  decide to devalue the
Renminbi,  we do not believe that such an action would have a detrimental effect
on  our operations, since we conduct virtually all of its business in China, and
the  sale  of


                                       16
<PAGE>
our  products  is  settled  in  Renminbi.  However,  devaluation of the Renminbi
against  the  United  States  dollar  would  adversely  affect  our  financial
performance  when  measured  in  United  States  dollars.

New  Accounting  Pronouncements:

In  July  2001,  the FASB issued Statement No.142 "Goodwill and Other Intangible
Assets".  Statement  No.142  requires  the  use of a nonamortization approach to
account  for  purchased  goodwill  and  indefinite  lived  intangibles.  Under a
nonamortization  approach, goodwill and indefinite lived intangibles will not be
amortized  into  results  of  operations,  but  instead  would  be  reviewed for
impairment  and  written  down  and charged to results of operations only in the
periods in which the recorded value of goodwill and indefinite lived intangibles
is  more  than  its  fair  value.  The  provisions  of  Statement No.142 will be
effective  for  us  in  fiscal  2003.  We  do  not  expect  this  standard, when
implemented,  to  have  a material effect on its future results of operations or
financial  position.

In  August  2001,  the  FASB  issued  SFAS No.144, "Accounting for Impairment or
Disposal  of  Long-Lived  Assets".  This  statement supersedes Statement No.121,
"Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to
be  Disposal of", and the accounting and reporting provisions of APB Opinion 30,
"Reporting  the  Results  of  Operation - Reporting the Effects of Disposal of a
Segment  of  a  Business,  and  the  disposal  of  a segment of a business. This
statement  is  effective for us in fiscal 2003. We do not expect the adoption of
Statement  No.144  to have a material impact on our future results of operations
or  financial  position.

In  April  2002, the FASB issued Statement No.145 "Rescission of FASB Statements
No.4,  44 and 64. Amendment of FASB Statement No.13, and Technical Corrections".
The  Statement  addresses  the  accounting  for  extinguishment  of  debt,
sale-leaseback  transactions  and  certain lease modifications. The statement is
effective  for  us  in  fiscal  2003. We do not expect the adoption of Statement
No.145  to  have  a  material  impact  on  our  future  results of operations or
financial  position.

In  July 2002, the FASB issued Statement No.146, "Accounting for Cost Associated
with  Exit or Disposal Activities". The statement addresses financial accounting
and  reporting  for  costs  associated  with  exit  or  disposal  activities and
supercedes  Emerging Issues Task Force Issue No.94-3, "Liability Recognition for
Certain  Employee  Termination  Benefits  and  Other  Costs  to Exit an Activity
(Including  Certain  Costs  Incurred  in  a  Restructing)."  The  provisions  of
Statement  No.146  are  effective  for  exit  or  disposal  activities  that are
initiated  after  December  31, 2002. We do not expect the adoption of Statement
No.146  to  have  a  material  impact  on  our  future  results of operations or
financial  position.

In October 2002, the FASB issued SFAS No. 147, "Acquisition of Certain Financial
acquisitions  of financial institutions, except transactions between two or more
mutual  enterprises. We do not


                                       17
<PAGE>
expect that this standard will have any effect on its financial statements.

In  December  2002,  the  FASB  issued SFAS No. 148, "Accounting for Stock-Based
Compensation  -  Transition  and  Disclosure".  SFAS No. 148 amends SFAS No. 123
"Accounting  and  Stock  Based  Compensation," to provide alternative methods of
transition  for  a voluntary change to the fair value based method of accounting
for  stock-based  employee  compensation.  In  addition, SFAS No. 148 amends the
disclosure requirements of SFAS No. 123 to require prominent disclosures in both
annual  and  interim  financial  statements  about  the method of accounting for
stock-based  employee compensation and the effect of the method used in reported
results. SFAS No. 148 is effective for fiscal years beginning after December 15,
2002.  The  interim  disclosure  provisions  are effective for financial reports
containing financial statements for interim periods beginning after December 15,
2002. We do not expect the adoption of SFAS No. 148 to have a material effect on
out  financial  position,  results  of  operations,  or  cash  flows.


                                       18
<PAGE>
PART  II.  OTHER  INFORMATION

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

During  the  nine  months  ended  June  30, 2003, we issued 40,668,884 shares of
common  stock.  Among  those  shares,  545,454  shares were issued to two of our
directors  /  officers,  Mr.  Danny  Wu and Mr. Lawrence Hon, in lieu of cash as
remuneration  for their services to the Company. 7,254,693 shares were issued to
the shareholders, Texon Investments Holdings Ltd., Intermax Ltd. and Masterpiece
Development  Ltd.,  in  lieu  of  cash  as  repayment to the shareholders' loan.
3,000,000  shares  were  issued  to  two  individuals  in lieu of cash for their
consulting  services  to  the Company. 29,868,737 shares were issued to Winsmart
Development  Limited  in  lieu  of  cash  for  the  assets  acquisition.

ITEM 6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

(a)     Exhibits:
        99.1     Certification  by  Chief  Executive  Officer
        99.2     Certification  by  Chief  Financial  Officer

(b)     Reports  on  Form  8-K:

        During  the  nine  months  ended  June  30,  2003, the Company filed the
        Following  reports  on  the  Form  8-K:

Form     Filing  Date    Event  Reported
-----    ------------    ---------------
8-K      Oct 4, 2002     A report on Form 8-K (item 4), which announced changing
                         in  the  Company's  certifying  accountant.

8-K/A    Oct 23, 2002    A  report  on  Form  8-K/A  (item  4),  which announced
                         changing  in  the  Company's  certifying  accountant.

8-K      March 21, 2003  A  report on Form 8-K (item 5), which announced issuing
                         7,254,693 shares of the Company's common stock to repay
                         the  shareholders'  loan.

8-K      May 13, 2003    A  report  on Form 8-K (item 1, 2 & 5), which announced
                         issuing  29,868,737  shares  to  Winsmart  Development
                         Limited  for  the  assets acquisition and Winsmart will
                         become  the  major shareholder of the Company. Also, it
                         announced  the Company's principal executive office was
                         relocated.


                                       19
<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.

                             GREENSMART CORPORATION
                             ----------------------
                                  (Registrant)

Date:  July 31, 2003                   By:  /s/ LAWRENCE HON
                                               --------------
                                                Lawrence Hon
                                                President  and Chief
                                                Executive Officer
                                                (Duly  Authorized
                                                Officer)


Date:  July 31, 2003                   By:  /s/ SIMON POON
                                               ------------
                                                Simon Poon
                                                Director and Executive
                                                Vice President

Date:  July 31, 2003                   By:  /s/ CARL YUEN
                                               -----------
                                                Carl Yuen
                                                Chief Financial Officer
                                                (Principal Financial
                                                and Accounting Officer)


                                       20
<PAGE>
                                 CERTIFICATIONS
I, Lawrence Hon, Chief Executive Officer, certify that:
1.   I  have  reviewed  this  quarterly  report  on  Form  10-QSB  of GreenSmart
     Corporation  a  Delaware  Corporation;
2.   Based  on  my  knowledge, this quarterly report does not contain any untrue
     statement  of a material fact or omit to state a material fact necessary to
     make  the  statements  made, in light of the circumstances under which such
     statements  were made, not misleading with respect to the period covered by
     this  annual  report;
3.   Based  on  my  knowledge,  the  financial  statements,  and other financial
     information  included  in  this  quarterly  report,  fairly  present in all
     material  respects  the financial condition, results of operations and cash
     flows  of  the  registrant  as  of,  and for, the periods presented in this
     quarterly  report;
4.   The  registrant's  other  certifying  officers  and  I  are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     Exchange  Act  Rules  13a-14  and  15d-14)  for  the  registrant  and have:
     a)   designed  such  disclosure  controls  and  procedures  to  ensure that
          material  information  relating  to  the  registrant,  including  its
          consolidated  subsidiaries, is made known to us by others within those
          entities,  particularly  during the period in which this annual report
          is  being  prepared;
     b)   evaluated  the  effectiveness  of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this  quarterly  report  (the  "Evaluation  Date");  and
     c)   presented  in  this  quarterly  report  our  conclusions  about  the
          effectiveness  of  the disclosure controls and procedures based on our
          evaluation  as  of  the  Evaluation  Date;
5.   The  registrant's  other certifying officers and I have disclosed, based on
     our  most  recent  evaluation,  to  the registrant's auditors and the audit
     committee  of  registrant's  board  of directors (or persons performing the
     equivalent  functions):
     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which  could  adversely  affect  the registrant's ability to
          record,  process,  summarize  and  report  financial  data  and  have
          identified  for  the  registrant's auditors any material weaknesses in
          internal  controls;  and
     b)   any  fraud, whether or not material, that involves management or other
          employees  who  have  a  significant role in the registrant's internal
          controls;  and
6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly  report whether or not there were significant changes in internal
     controls  or  in  other  factors  that  could significantly affect internal
     controls  subsequent  to  the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date:  July 31, 2003
/s/  Lawrence Hon, Chief Executive Officer
----------------------------------------------------
Principal Executive Officer


                                       21
<PAGE>
I, Carl Yuen, Chief Financial Officer, certify that:
1.   I  have  reviewed  this  quarterly  report  on  Form  10-QSB  of GreenSmart
     Corporation  a  Delaware  Corporation;
2.   Based  on  my  knowledge, this quarterly report does not contain any untrue
     statement  of a material fact or omit to state a material fact necessary to
     make  the  statements  made, in light of the circumstances under which such
     statements  were made, not misleading with respect to the period covered by
     this  annual  report;
3.   Based  on  my  knowledge,  the  financial  statements,  and other financial
     information  included  in  this  quarterly  report,  fairly  present in all
     material  respects  the financial condition, results of operations and cash
     flows  of  the  registrant  as  of,  and for, the periods presented in this
     quarterly  report;
4.   The  registrant's  other  certifying  officers  and  I  are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     Exchange  Act  Rules  13a-14  and  15d-14)  for  the  registrant  and have:
     a)   designed  such  disclosure  controls  and  procedures  to  ensure that
          material  information  relating  to  the  registrant,  including  its
          consolidated  subsidiaries, is made known to us by others within those
          entities,  particularly  during the period in which this annual report
          is  being  prepared;
     b)   evaluated  the  effectiveness  of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this  quarterly  report  (the  "Evaluation  Date");  and
     c)   presented  in  this  quarterly  report  our  conclusions  about  the
          effectiveness  of  the disclosure controls and procedures based on our
          evaluation  as  of  the  Evaluation  Date;
5.   The  registrant's  other certifying officers and I have disclosed, based on
     our  most  recent  evaluation,  to  the registrant's auditors and the audit
     committee  of  registrant's  board  of directors (or persons performing the
     equivalent  functions):
     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which  could  adversely  affect  the registrant's ability to
          record,  process,  summarize  and  report  financial  data  and  have
          identified  for  the  registrant's auditors any material weaknesses in
          internal  controls;  and
     b)   any  fraud, whether or not material, that involves management or other
          employees  who  have  a  significant role in the registrant's internal
          controls;  and
6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly  report whether or not there were significant changes in internal
     controls  or  in  other  factors  that  could significantly affect internal
     controls  subsequent  to  the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date:  July 31, 2003
/s/  Carl Yuen, Chief Financial Officer
----------------------------------------------------
Principal Financial Officer


                                       22
<PAGE>