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, 2003.

[ ] 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 8, 2003 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, 2003................................................          1


Condensed Statements of Loss
  Three Months Ended March 31, 2003 and 2002....................          2


Condensed Statements of Cash Flows
  Three Months Ended March 31, 2003 and  2002...................          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)


                                                                 March 31,
           ASSETS                                                   2003
           ------                                              ---------------
Current assets:
   Cash                                                        $       54,864
   Accounts receivable                                                 40,309
   Inventories                                                        520,439
   Prepaid expenses                                                   123,638
   Prepaid leases-current                                             104,889
                                                               ---------------

           Total current assets                                       844,139
                                                               ---------------

Property and equipment, net of accumulated
  depreciation of $3,410,016                                        6,900,894
Prepaid leases-noncurrent                                             562,272
Deposits                                                                2,643
                                                               ---------------

           TOTAL ASSETS                                        $    8,309,948
                                                               ===============

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

Current liabilities:
   Accounts payable                                            $      417,658
   Accrued expenses                                                   337,337
   Current maturities of long-term debt                               230,379
                                                               ---------------

           Total current liabilities                                  985,374
                                                               ---------------

Accrued lease expense                                                 549,391
Long-term debt                                                      4,665,467
Deferred revenue                                                        3,062
Security deposits                                                      11,400
Interest rate swap agreement                                          678,789
                                                               ---------------

           Total liabilities                                        6,893,483
                                                               ---------------

Stockholders' equity
   Common stock, $.001 par value, authorized
      40,000,000 shares, issued and outstanding
      7,937,638 shares                                                  7,938
   Additional paid-in capital                                      10,781,076
   Retained earnings (deficit)                                     (9,372,549)
                                                               ---------------

           Total stockholders' equity                               1,416,465
                                                               ---------------

           TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY          $    8,309,948
                                                               ===============

            See accompanying notes to condensed financial statements.


                                       -1-
<PAGE>
                             ITEC Attractions, Inc.
                          Condensed Statements of Loss
                                   (Unaudited)

                                                   Three Months Ended
                                                         March 31,

                                                  2003              2002
                                               ------------     -------------

Revenue:
     Theater and concession                   $   442,942      $    409,799
     Food service                                 290,904           295,708
     Gift shop                                     99,860           105,731
     Mall operations                               90,312            74,001
                                              ------------     -------------
                                                  924,018           885,239
                                              ------------     -------------
Direct expense:
     Theater and concession                       340,368           309,901
     Food service                                 357,806           315,478
     Gift shop                                    112,435           105,736
     Mall operations                               91,096            89,202
                                              ------------     -------------
                                                  901,705           820,317
                                              ------------     -------------


Gross profit                                       22,313            64,922
                                              ------------     -------------

Operating expenses:
     General and administrative                   232,313           160,743
     Advertising and marketing                    161,772           159,897
     Depreciation and amortization                132,828           130,759
     Gain on derivative financial
        instrument                                (24,587)          (69,500)
                                              ------------     -------------
                                                  502,326           381,899
                                              ------------     -------------

Operating loss                                   (480,013)         (316,977)
                                              ------------     -------------

Other income (expense):
     Interest income                                  198                49
     Interest expense                            (121,696)         (127,985)
                                              ------------     -------------
                                                 (121,498)         (127,936)
                                              ------------     -------------

        Net loss                              $  (601,511)     $   (444,913)
                                              ============     =============

Loss per common share                         $      (.08)     $       (.06)
                                              ============     =============

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,
                                                                                   2003                2002
                                                                              ---------------     ---------------
<S>                                                                         <C>                 <C>
Cash flows from operating activities:
   Net loss                                                                 $       (601,511)   $       (444,913)
    Items not requiring(providing) cash:
       Depreciation and amortization                                                 132,828             130,759
      Gain on derivative financial instrument                                        (24,587)            (69,500)
       Changes in:
         Accounts receivable                                                           5,076              13,580
         Inventories                                                                (144,248)            (78,952)
         Prepaid expenses and other                                                   14,659              24,591
         Accounts payable and accrued expenses                                       371,680             235,616
                                                                              ---------------     ---------------
                         Net cash used in operating activities                      (246,103)           (188,819)
                                                                              ---------------     ---------------

Cash flows from investing activities:
   Purchase of property and equipment                                               (103,756)            (18,011)
                                                                              ---------------     ---------------
                         Net cash used in investing activities                      (103,756)            (18,011)
                                                                              ---------------     ---------------

Cash flows from financing activities:
   Net borrowings under line of credit agreement                                           -             200,000
   Principal payments on long-term debt                                              (40,476)            (66,421)
   Proceeds from issuance of long-term debt                                           45,805              85,000
                                                                              ---------------     ---------------
                        Net cash provided by financing activities                      5,329             218,579
                                                                              ---------------     ---------------

Increase (decrease) in cash                                                         (344,530)             11,749

Cash at beginning of period                                                          399,394              66,084
                                                                              ---------------     ---------------

Cash at end of period                                                         $       54,864      $       77,833
                                                                              ===============     ===============


Supplemental cash flows information:
  Interest paid                                                               $      121,696      $      127,985

</TABLE>

            See accompanying notes to condensed financial statements.





                                       -3-
<PAGE>

                             ITEC Attractions, Inc.

                     Notes to Condensed Financial Statements
                             March 31, 2003 and 2002
                                   (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 generally  accepted  accounting  principles 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, 2002 as filed with the Securities
and Exchange Commission.

NOTE 2. OPERATING SEGMENTS

The Company operates in three business segments: 1) Theater and concessions,  2)
Food service, and 3) Retail services.

The following table presents financial  information by operating segment for the
three months ended March 31, 2003 and 2002.

Three months ended      Theater and    Food     Retail
March 31, 2003          Concessions   Service   Services   Corporate     Total
--------------------------------------------------------------------------------

Sales to unaffiliated
  customers              $442,942    $290,904   $190,172  $     -     $ 924,018

Operating income
  (loss)                 $102,574    $(66,902)  $(13,359) $(502,326)  $(480,013)

Three months ended     Theater and     Food       Retail
March 31, 2002          Concessions    Service   Services  Corporate     Total
--------------------------------------------------------------------------------

Sales to unaffiliated
  customers              $409,799    $295,708   $179,732  $     -     $ 885,239

Operating income
  (loss)                 $ 99,898    $(19,770)  $(15,206) $(381,899)  $(316,977)


                                       -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 instruments of $24,587 and $69,500 for
the three months ended March 31, 2003 and 2002, 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, 2002.

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.



                                       -5-

<PAGE>

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
primarily sells custom 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,  and the Keepin' It Country show are currently
being held 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, 2003 increased 4 percent to $924,018 as
compared to $885,239 for the same quarter of the previous year. This increase is
primarily a result of an increase in film revenues in the IMAX theater.

Direct  operating  expenses  were  $901,705 for the quarter ended March 31, 2003
representing  98 percent of sales,  as  compared  to  expenses of $820,317 or 93
percent of sales for the comparable  period of the previous year.  This increase
in direct operating expenses is attributed  principally to an increase in salary
and wage expenses for the quarter ended March 31, 2003.

General and administrative  expenses were $232,313 and $160,743 for the quarters
ended  March 31,  2003 and 2002,  respectively.  This  increase  in general  and
administrative  expenses  is  primarily  due to an  increase  in salary and wage
expenses, including bonuses approved in the first quarter of 2003, to be paid in
May 2003.

Advertising  and marketing  expense was $161,772 for the quarter ended March 31,
2003 compared to $159,897 for the same period in 2002.

                                       -6-

<PAGE>


Interest expense was $121,696 and $127,985 for the quarters ended March 31, 2003
and 2002.

Net loss was  $601,511  for the quarter  ended March 31, 2003  compared to a net
loss of $444,913 for the same period of the previous year.

LIQUIDITY AND CAPITAL RESOURCES

As of March 31, 2003, current assets totaled $844,139, while current liabilities
totaled $985,374. The Company's current ratio at March 31, 2003 was .86 to 1.00.

As of March 31, 2003,  the Company has  outstanding  borrowings of $100,000 from
Ms. Ann Bluto, a director of the Company. This loan bears interest at prime plus
1%.

On July 24,  2000,  the  Company  refinanced  its  existing  line of credit  and
existing  long-term debt with a new line of credit in the amount of $200,000 and
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 line of credit and the term loan are 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,  cash flow from
operations, and commercial or related party borrowings.

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, 2002 for more details.


                                       -7-
<PAGE>

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  periods specified in the
     SEC's  rules  and  forms,  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.

(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.


                                       -8-
<PAGE>


                            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 99.1 CEO and CFO  certification  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       5/12/03                                /s/ Paul M. Bluto
           -------                                -----------------
                                                  Paul M. Bluto
                                                  Chairman and
                                                  Principal Financial Officer
                                                  Chief Executive Officer




Date       5/12/03                                /s/ Paul E. Rasmussen
           -------                                ---------------------
                                                  Paul E. Rasmussen
                                                  President
                                                  Chief Operating Officer


                                      -10-

                Certification of the Principal Executive Officer
                        and Principal Financial Officer
                 (Section 302 of the Sarbanes-Oxley Act of 2002)

        I, Paul M. Bluto, certify that:

1. I have reviewed  this  quarterly  report on Form 10-QSB of ITEC  Attractions,
Inc.;

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 quarterly
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 in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

         a) designed  such  disclosure  controls and  procedures  to ensure that
         material  information relating to the registrant is made known to us by
         others within the entity,  particularly during the period in which this
         quarterly 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:

         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

                                      -11-
<PAGE>

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: May 12, 2003
                                                   /s/ Paul M. Bluto
                                                   ---------------------------
                                                   Paul M. Bluto
                                                   Chief Executive Officer and
                                                   Chief Financial Officer



                                      -12-