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, 2005.

[ ] Transition  Report Under Section 13 or 15(d) of the Securities  Exchange Act
for the transition period from ____________ to ____________.

Commission file number 0-21070

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

         Nevada                                          66-0426648
         ------                                          ----------
(State of Incorporation)                       (IRS Employer Identification No.)

         3562 Shepherd of the Hills Expressway, Branson, Missouri 65616
         --------------------------------------------------------------
                    (Address of principal executive offices)

                                 (417) 335-3533
                                 --------------
                           (Issuer's telephone number)


Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or Section 15(d) of the Securities  Exchange Act of 1934 during the preceding
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


The number of shares  outstanding of the issuer's common stock, $.001 par value,
as of May 12, 2005 is 7,937,638 shares.

Transitional Small Business Disclosure Format (check one):    Yes        No X



<PAGE>

                             ITEC Attractions, Inc.


                                TABLE OF CONTENTS


PART 1.  FINANCIAL INFORMATION

Item 1.    Financial Statements


                                                                    Page Number
                                                                    -----------

Condensed Balance Sheet
  March 31, 2005.......................................................     1


Condensed Statements of Operations
  Three Months Ended March 31, 2005 and 2004...........................     2

Condensed Statements of Cash Flows
  Three Months Ended March 31, 2005 and  2004..........................     3


Notes to Condensed Financial Statements ...............................     4


Item 2.  Management's Discussion and Analysis of Financial Condition
  and Results of Operations............................................     5


Item 3.  Controls and Procedures.......................................     8


PART II.  OTHER INFORMATION............................................     9

<PAGE>

                             ITEC Attractions, Inc.
                             Condensed Balance Sheet
                                   (Unaudited)
<TABLE>
<CAPTION>


                                                                   March 31,          March 31,
            ASSETS                                                    2005               2004
            ------                                              ----------------   ----------------
<S>                                                           <C>                   <C>
Current assets:
   Cash                                                       $          322,291            152,221
   Accounts receivable                                                    68,463             84,119
   Inventories                                                           505,452            464,181
   Prepaid expenses                                                      150,243            150,632
   Prepaid leases-current                                                 77,753            104,889
                                                                 ----------------   ----------------

            Total current assets                                       1,124,202            956,042
                                                                 ----------------   ----------------


Property and equipment, net of accumulated
  depreciation of $3,943,904                                           6,317,777          6,729,787
Prepaid leases-noncurrent                                                379,629            457,383
Deposits                                                                  12,744              8,128
                                                                 ----------------   ----------------


            TOTAL ASSETS                                      $        7,834,352          8,151,340
                                                                 ================   ================

            LIABILITIES AND STOCKHOLDERS' EQUITY
            ------------------------------------

Current liabilities:
   Accounts payable                                           $          371,051            408,846
   Accrued expenses                                                      231,826            258,539
   Current maturities of long-term debt                                  223,731            227,904
                                                                 ----------------   ----------------

            Total current liabilities                                    826,608            895,289
                                                                 ----------------   ----------------

Accrued lease expense                                                    662,087            605,739
Long-term debt                                                         4,389,165          4,479,453
Deferred revenue                                                          83,371             91,872
Security deposits                                                         12,400             12,400
Interest rate swap agreement                                             168,567            496,114
                                                                 ----------------   ----------------

            Total liabilities                                          6,142,198          6,580,867
                                                                 ----------------   ----------------

Stockholders' equity
   Common stock, $.001 par value, authorized 40,000,000
      shares, issued and outstanding 7,937,638 shares                      7,938              7,938
   Additional paid-in capital                                         10,781,076         10,781,076
   Retained earnings (deficit)                                        (9,096,860)        (9,218,541)
                                                                 ----------------   ----------------

            Total stockholders' equity                                 1,692,154          1,570,473
                                                                 ----------------   ----------------

            TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY        $        7,834,352          8,151,340
                                                                 ================   ================
</TABLE>


           See accompanying notes to condensed financial statements.


                                       1
<PAGE>

                             ITEC Attractions, Inc.
                       Condensed Statements of Operations
                                   (Unaudited)


                                                       Three Months Ended
                                                             March 31,
                                                     2005              2004
                                                 -------------     -------------
Revenue:
     Theater and concession                    $      490,091    $      558,729
     Food service                                     319,826           341,863
     Gift shop                                        108,439            92,115
     Mall operations                                   93,794            88,895
                                                 -------------     -------------
                                                    1,012,150         1,081,602
                                                 -------------     -------------
Direct expense:
     Theater and concession                           369,954           411,173
     Food service                                     381,524           402,187
     Gift shop                                        114,752           112,887
     Mall operations                                  105,098           106,876
                                                 -------------     -------------
                                                      971,328         1,033,123
                                                 -------------     -------------

Gross profit                                           40,821            48,479
                                                 -------------     -------------

Operating expenses:
     General and administrative                       220,604           223,202
     Advertising and marketing                        181,593           160,003
     Depreciation and amortization                    134,338           132,071
     Gain on derivative financial instrument          (70,923)          (19,828)
                                                 -------------     -------------
                                                      465,612           495,448
                                                 -------------     -------------

Operating loss                                       (424,791)         (446,969)
                                                 -------------     -------------

Other income (expense):
     Interest income                                    2,228               527
     Interest expense                                (121,150)         (118,757)
                                                 -------------     -------------
                                                     (118,922)         (118,230)
                                                 -------------     -------------

        Net loss                               $     (543,713)   $     (565,199)
                                                 =============     =============

Loss per common share                          $         (.07)   $         (.07)
                                                 =============     =============

Weighted average common
   shares outstanding                               7,937,638         7,937,638


           See accompanying notes to condensed financial statements.

                                        2
<PAGE>

                           ITEC Attractions, Inc.
                     Condensed Statements of Cash Flows
                                 (Unaudited)
<TABLE>
<CAPTION>


                                                                                      Three Months Ended
                                                                                           March 31,
                                                                                   2005                2004
                                                                              ---------------     ---------------
<S>                                                                         <C>                 <C>
Cash flows from operating activities:
   Net loss                                                                 $       (543,713)   $       (565,199)
    Items not requiring(providing) cash:
       Depreciation and amortization                                                 134,338             132,071
      Gain on derivative financial instrument                                        (70,923)            (19,828)
       Changes in :
         Accounts receivable                                                          17,534              (2,858)
         Inventories                                                                (119,325)            (77,128)
         Prepaid expenses and other                                                    4,103               1,812
         Accounts payable and accrued expenses                                       199,992             188,669
                                                                              ---------------     ---------------
                         Net cash used in operating activities                      (377,994)           (342,461)
                                                                              ---------------     ---------------

Cash flows from investing activities:
   Purchase of property and equipment                                                (76,501)           (113,737)
                                                                              ---------------     ---------------
                         Net cash used in investing activities                       (76,501)           (113,737)
                                                                              ---------------     ---------------

Cash flows from financing activities:
   Principal payments on long-term debt                                              (30,320)            (39,888)
   Proceeds from issuance of long-term debt                                           32,947                   -
                                                                              ---------------     ---------------
                        Net cash provided by (used in) financing activities            2,627             (39,888)
                                                                              ---------------     ---------------

Decrease in cash                                                                    (451,868)           (496,086)

Cash at beginning of period                                                          774,159             648,307
                                                                              ---------------     ---------------

Cash at end of period                                                       $        322,291    $        152,221
                                                                              ===============     ===============

Supplemental cash flows information:
  Interest paid                                                             $        121,150    $        118,757

</TABLE>

           See accompanying notes to condensed financial statements.

                                        3

<PAGE>

                             ITEC Attractions, Inc.

                     Notes to Condensed Financial Statements

                                   (Unaudited)


NOTE 1.  BASIS OF PRESENTATION

ITEC Attractions,  Inc. (formerly known as International  Tourist  Entertainment
Corporation)  (the  "Company")   commenced   operations  in  October  1993.  The
accompanying  interim condensed financial  statements are unaudited,  but in the
opinion  of  management  reflect  all  adjustments  (consisting  only of  normal
recurring  adjustments)  necessary  for a fair  presentation  of  the  financial
position,  results of operations and cash flows for the Company.  The results of
operations for any interim period are not necessarily  indicative of results for
the respective  full year.  Certain  information and note  disclosures  normally
included in the Company's  annual  financial  statements  prepared in accordance
with accounting  principles  generally  accepted in the United States of America
have been condensed or omitted.  These condensed financial  statements should be
read in conjunction with the financial statements and notes thereto contained in
the Company's  annual report on Form 10-KSB for the year ended December 31, 2004
as filed with the Securities and Exchange Commission.

NOTE 2. OPERATING SEGMENTS

The Company operates in three business segments: 1) Theater and concessions,  2)

<PAGE>

Food service, and 3) Retail services.

The following table presents financial  information by operating segment for the
three months ended Mach 31, 2005 and 2004.
<TABLE>
<CAPTION>

Three months ended         Theater and        Food        Retail
March  31 , 2005           Concessions      Service       Services      Corporate     Total
-----------------------------------------------------------------------------------------------
<S>                          <C>           <C>            <C>                        <C>
Sales to unaffiliated
  customers                  $490,091      $  319,826     $  202,233           -     $1,012,150

Operating income
  (loss)                     $120,137      $  (61,698)    $  (17,617)  $(465,612)    $ (424,791)

Three months ended         Theater and        Food        Retail
March  31 , 2004           Concessions      Service       Services      Corporate      Total
-----------------------------------------------------------------------------------------------

Sales to unaffiliated
  customers                  $558,729      $  341,863     $  181,010           -     $1,018,602

Operating income
  (loss)                     $147,557      $  (60,324)    $  (38,753)  $(495,448)    $ (446,969)
</TABLE>


                                       4
<PAGE>

NOTE 3.  DERIVATIVE FINANCIAL INSTRUMENT

The derivative financial instrument held by the Company is an interest rate swap
agreement  with Bank of  America,  N.A.  (the  "Bank")  to  effectively  fix the
interest rate on the Company's term note with the Bank,  which is due June 2013,
at 10.4% through April 1, 2006. The Company's derivative  instrument is recorded
at its fair value with changes in fair value  included in earnings.  The Company
recognized a gain on derivative  financial instrument of $70,923 and $19,828 for
the quarters ended March 31, 2005 and 2004, respectively.


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

General

The following  discussion and analysis  provides  information  which  management
believes  is  relevant  to an  assessment  and  understanding  of the results of
operations and financial condition of ITEC Attractions, Inc. This discussion and
analysis should be read in conjunction  with the financial  statements,  related
notes and Management's  Discussion and Analysis included in the Company's Annual
Report on Form 10-KSB for the year ended December 31, 2004.

ITEC  Attractions,  Inc. began  operations  with the opening of its giant screen
theater and mall facility in Branson, Missouri in October 1993. This facility is
known as the IMAX  Entertainment  Complex (The Complex).  The Complex contains a
532-seat  IMAX theater  with a screen that is 62 feet tall and 83 feet wide.  In
addition,  The Complex  includes an enclosed  shopping  mall with  approximately
22,000  square feet of retail  space.  McFarlain's,  a family  restaurant in the
mall, has been owned and operated by the Company since May 1, 1995.

During the quarter ended  September 30, 1998, the Company  completed an addition
to McFarlain's  restaurant  that increased  seating by 133 people.  This was the
second major expansion of the restaurant over a two and a half year period,  and
brings total seating to 630 people. During the quarter ended March 31, 1997, the
Company  acquired  assets to begin the operation of McFarlain's  Back Porch,  an
express  deli and bakery which is also  located in the mall.  In 2000,  The Back
Porch  was  converted  to the IMAX Food  Court.  The IMAX  Food  Court  includes
franchises for Quiznos Sub Sandwiches,  Baskin & Robbins Ice Cream and Breadeaux
Pizza.

In 1994,  the Company  began  selling gift items related to the films which were
being exhibited in the theater or which are  representative  of the lifestyle of
the Ozarks.  This  operation  has evolved  into the Legacy & Legends  Gift Shop,
which  has  been  one of the  Company's  most  profitable  and  fastest  growing
departments. Because of the success of the Legacy and Legends Gift Shop, in 2000
the Company  made a decision to expand its gift shop  operations.  In October of
2000 the Company  acquired  Fabulous  Finds, a kiosk located in the Complex that

                                       5
<PAGE>

primarily sells costume jewelry.  In January of 2001 the Company acquired Shadow
Box Gifts and Collectibles,  a gift shop located in the Complex that specializes
in the sale of various types of collectibles.  Twelve other shops and kiosks are
currently leased to third parties.

In  December  1997,  the  Company  installed a new 35mm  projection  system,  in
addition to its IMAX giant screen projection  system,  and began showing feature
35mm films each evening in addition to the IMAX giant screen film presentations.

In March 1998,  the Company  completed the  construction  of a 210-seat  theater
named the Little Opry Theater,  for live  performances in The Complex.  Smoke on
the  Mountain,  Gold Wing Express,  Hank  Williams  Revisited and the Keepin' It
Country shows are currently performing in the Little Opry Theater.

On July 24, 2000 the Company completed  financial  arrangements for a program of
additional capital improvements to The Complex.  These improvements included the
construction  of a new theater  center named Elite Cinema III, which is adjacent
to The Complex.  Elite Cinema III houses three  theaters  with  state-of-the-art
sound systems and stadium style seating, and is designed to exhibit 35mm feature
length films.  The seating  capacity of the three theaters is 181, 170, and 132.
Construction  of Elite Cinema III  commenced in March of 2001 and was  completed
during  the third  quarter of 2001.  The  Company  also  increased  the  parking
capacity  of  The  Complex  by 165  spaces  to  accommodate  the  new  theaters.
Construction  of the  parking  expansion  commenced  in  January  2000  and  was
completed  at the time the Elite  Cinema III opened.  The cost of these  capital
improvements was approximately $1.8 million.

RESULTS OF OPERATIONS

Revenues for the quarter ended March 31, 2005  decreased 6 percent to $1,012,150
as  compared to  $1,081,602  for the same  quarter of the  previous  year.  This
decrease is attributed to both a decreases in theater revenue and food revenue.

Direct  operating  expenses  were  $971,328 for the quarter ended March 31, 2005
representing  96 percent of sales,  as compared to expenses of  $1,033,123 or 96
percent of sales for the comparable period of the previous year.

General and administrative  expenses were $220,604 and $223,202 for the quarters
ended March 31, 2005 and 2004, respectively.


                                       6
<PAGE>

Advertising  and marketing  expense was $181,593 for the quarter ended March 31,
2005 compared to $160,003 for the same period in 2004.

Interest expense was $121,150 and $118,757 for the quarters ended March 31, 2005
and 2004, respectively.

Net loss was  $543,713  for the quarter  ended March 31, 2005  compared to a net
loss of $565,199 for the same period of the previous year.  This decrease in the
net loss is primarily  related to the  increased  gain  recorded on the interest
rate swap.

LIQUIDITY AND CAPITAL RESOURCES

As  of  March  31,  2005,  current  assets  totaled  $1,124,202,  while  current
liabilities totaled $826,608.  The Company's current ratio at March 31, 2005 was
1.36 to 1.00.

As of March 31, 2005,  the Company has  outstanding  borrowings of $100,000 from
Ms. Ann Bluto, a director of the Company. This loan bears interest at prime plus
2%.

On July 24, 2000, the Company  refinanced its existing long-term debt with a new
term loan in the amount of  $4,676,203.  The proceeds of the term loan were used
to refinance existing  indebtedness and to finance the construction of three new
theaters and additional parking related thereto and the construction of the food
court.  The term  loan is  secured  by deeds of trust on the  Company's  theater
complex and ground leases.

Going  forward,  the Company  expects to be able to finance its  operations  and
immediate capital  requirements  from currently  available capital and cash flow
from operations.



                                       7
<PAGE>

FORWARD-LOOKING STATEMENTS

When  used in this  Form  10-QSB,  in  other  filings  by the  Company  with the
Securities  and Exchange  Commission,  in the Company's  press releases or other
public stockholder communications,  or in oral statements made with the approval
of an authorized  executive officer of the Company,  the words or phrases "would
be," "will allow,"  "intends to," "will likely result," "are expected to," "will
continue," "is anticipated,"  "estimate,"  "project," or similar expressions are
intended  to  identify  "forward-looking  statements"  within the meaning of the
Private Securities Litigation Reform Act of 1995.

The Company cautions readers not to place undue reliance on any  forward-looking
statements,  which  speak  only  as of the  date  made,  are  based  on  certain
assumptions  and  expectations  which may or may not be valid or actually occur,
and which involve various risks and uncertainties,  including but not limited to
risk of product demand,  market  acceptance,  economic  conditions,  competitive
products and pricing,  difficulties in product  development,  commercialization,
and  technology and other risks.  In addition,  sales and other revenues may not
commence and/or continue as anticipated due to delays or otherwise. As a result,
the Company's  actual  results for future periods could differ  materially  from
those anticipated or projected. Please refer to the "Management's Discussion and
Analysis or Plan of Operation"  that is found in the Company's  Annual Report on
Form 10-KSB for the year ended December 31, 2003 for more details.

Unless otherwise required by applicable law, the Company does not undertake, and
specifically disclaims, any obligations to update any forward-looking statements
to reflect  occurrences,  developments,  unanticipated  events or  circumstances
after the date of such statement.

ITEM 3. CONTROLS AND PROCEDURES

(a) The Company maintains  disclosure controls and procedures as defined in Rule
13a-14(c)  of the  Securities  Exchange  Act of 1934 that are designed to ensure
that  information  required to be  disclosed  in periods  specified in the SEC's
rules and forms is identified,  and that such  information  is  accumulated  and
communicated to the Company's management,  including its Chief Executive Officer
and Chief Financial Officer, as appropriate, to allow timely decisions regarding
required disclosure.

Within 90 days prior to the date of this  report,  the  Company  carried  out an
evaluation,  under the supervision and with the  participation  of the Company's
management,  including the Company's Chief  Executive  Officer and the Company's
Chief Financial Officer, of the effectiveness of the design and operation of the
Company's  disclosure  controls  and  procedures.  Based on the  foregoing,  the
Company's Chief Executive Officer and Chief Financial Officer concluded that the
Company's disclosure controls and procedures were effective.

                                       8
<PAGE>

(b) There have been no significant changes in the Company's internal controls or
in  other  factors  that  could  significantly   affect  the  internal  controls
subsequent to the date the Company completed its evaluation.


                            PART II OTHER INFORMATION


Item 1.           Legal Proceedings
-------           -----------------

                  There are no material legal proceedings  pending to which  the
                  Company  is a party of,  or which any of its  property  is the
                  subject.

Item 2.           Changes in Securities
-------           ---------------------

                  None

Item 3.           Defaults Upon Senior Securities
-------           -------------------------------

                  None

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

                  None

Item 5.           Other Information
-------           -----------------

                  None

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

                  A.   Exhibits:
                       Exhibit 31.1 Certification of CEO and CFO pursuant to
                       Section 302 of the Sarbanes-Oxley Act of 2002

                       Exhibit 32.1 Certification of CEO and CFO pursuant to 18
                       U.S.C. Section 1350, as adopted pursuant to Section 906
                       of the Sarbanes-Oxley Act of 2002

                 B.    Reports on Form 8-K: None

                                       9
<PAGE>


                                   SIGNATURES


In accordance with the requirements of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.





Date               05/13/05                          /s/ Paul M. Bluto
                   --------                          -----------------
                                                     Paul M. Bluto
                                                     Chairman and
                                                     Principal Financial Officer
                                                     Chief Executive Officer




Date              05/13/05                           /s/ Paul E. Rasmussen
                  --------                           ---------------------
                                                     Paul E. Rasmussen
                                                     President
                                                     Chief Operating Officer



                                       10