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 June 30, 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 August 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
  June 30, 2003  ..........................................................   1


Condensed Statements of Operations
  Three and Six Months Ended June 30, 2003 and 2002........................   2


Condensed Statements of Cash Flows
  Six Months Ended June 30, 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)


                                                                      June 30,
          ASSETS                                                        2003
          ------                                                    -----------

Current assets:
   Cash                                                             $   161,923
   Accounts receivable                                                   55,366
   Inventories                                                          557,600
   Prepaid expenses                                                     138,064
   Prepaid leases-current                                               104,889
                                                                    -----------

          Total current assets                                        1,017,842

Property and equipment, net of
  accumulated depreciation of $3,540,519                              6,802,870
Prepaid leases-non-current                                              536,050
Deposits                                                                 22,701
                                                                    -----------


          TOTAL ASSETS                                              $ 8,379,463
                                                                    ===========

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

Current liabilities:

   Accounts payable                                                 $   533,902
   Accrued expenses                                                     332,187
   Current maturities of long-term debt                                 220,877
                                                                    -----------

          Total current liabilities                                   1,086,966

Accrued lease expense                                                   563,478
Long-term debt                                                        4,592,531
Deferred revenue                                                          4,981
Security deposits                                                        12,400
Interest rate swap agreement                                            679,803
                                                                    -----------

          Total liabilities                                           6,940,159

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)                                       (9,349,710)
                                                                    -----------

          Total stockholders' equity                                  1,439,304
                                                                    -----------

          TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                $ 8,379,463
                                                                    ===========

            See accompanying notes to condensed financial statements.

                                                          1

<PAGE>

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

<TABLE>
<CAPTION>
                                                      Three Months Ended                    Six Months Ended
                                                          June 30,                              June 30,
                                                    2003             2002                 2003             2002
                                                 -----------      -----------         ------------     -------------
<S>                                              <C>              <C>                 <C>              <C>
Revenue:
    Theater and concession                       $ 1,105,409      $   849,868         $  1,548,351     $   1,259,667
    Food service                                     953,376          965,339            1,244,280         1,261,047
    Gift shops                                       338,091          356,227              437,951           461,958
    Mall operations                                  107,024          108,228              197,336           182,229
                                                 -----------      -----------         ------------     -------------
                                                   2,503,900        2,279,662            3,427,918         3,164,901
                                                 -----------      -----------         ------------     -------------
Direct Expense:
    Theater and concession                           652,493          436,147              992,861           746,048
    Food service                                     770,932          795,958            1,128,738         1,111,436
    Gift shops                                       259,571          249,092              372,006           354,828
    Mall operations                                  115,067           98,348              206,163           187,550
                                                 -----------      -----------         ------------     -------------
                                                   1,798,063        1,579,545            2,699,768         2,399,862
                                                 -----------      -----------         ------------     -------------

Gross Profit                                         705,837          700,117              728,150           765,039
                                                 -----------      -----------         ------------     -------------

Operating Expense:
    General and administrative                       175,541          190,792              407,854           351,535
    Advertising and marketing                        254,572          233,932              416,344           393,829
    Depreciation and amortization                    130,483          131,429              263,311           262,188
    (Gain) loss on derivative financial
      instrument                                       1,014          118,037              (23,573)           48,537
                                                 -----------      -----------         ------------     -------------
                                                     561,610          674,190            1,063,936         1,056,089
                                                 -----------      -----------         ------------     -------------

Operating Income (Loss)                              144,227           25,927             (335,786)         (291,050)

Other Income (Expense):
    Interest income                                       68              110                  266               159
    Interest expense                                (121,454)        (133,015)            (243,150)         (261,000)
                                                 -----------      -----------         ------------     -------------
                                                    (121,386)        (132,905)            (242,884)         (260,841)
                                                 -----------      -----------         ------------     -------------

      Net Income (Loss)                          $    22,841      $  (106,978)        $   (578,670)    $    (551,891)
                                                 ===========      ===========         ============     =============

Income (loss) per common share                   $      0.00      $     (0.01)        $      (0.07)    $       (0.07)
                                                 ===========      ===========         ============     =============
Weighted average common
   shares outstanding                              7,937,638        7,937,638            7,937,638         7,937,638

</TABLE>

            See accompanying notes to condensed financial statements.

                                        2
<PAGE>

                             ITEC Attractions, Inc.

                       Condensed Statements of Cash Flows
                                   (Unaudited)
<TABLE>
<CAPTION>


                                                                                          Six Months Ended
                                                                                             June 30,
                                                                                    2003                 2002
                                                                              ---------------      --------------
<S>                                                                           <C>                  <C>
Cash flows from operating activities:
   Net loss                                                                   $      (578,670)     $      (551,891)
     Items not requiring(providing) cash:

      Depreciation and amortization                                                   263,311              262,188
       (Gain) loss on derivative financial instrument                                 (23,573)              48,537
      Changes in:
        Accounts receivable                                                            (9,981)              (9,437)
        Inventories                                                                  (181,409)            (153,184)
        Prepaid expenses and deposits                                                 (46,047)             (43,152)
        Prepaid leases                                                                 80,618               83,457
        Accounts payable and other accrued expenses                                   471,604              250,713
                                                                              ---------------      ---------------
                         Net cash used in operating activities                        (24,147)            (112,769)
                                                                              ---------------      ---------------

Cash flows from investing activities:
   Purchase of property and equipment                                                (136,215)             (42,181)
                                                                              ---------------      ---------------
                         Net cash used in investing activities                       (136,215)             (42,181)
                                                                              ---------------      ---------------

Cash flows from financing activities:
   Net borrowings under line of credit agreement                                            -              200,000
   Principal payments on long-term debt                                               (77,109)            (120,870)
   Proceeds from issuance of long-term debt                                                 -              110,000
                                                                              ---------------      ---------------
                        Net cash provided by (used in) financing activities           (77,109)             189,130
                                                                              ---------------      ---------------

Increase (decrease) in cash                                                          (237,471)              34,180

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

Cash at end of period                                                         $       161,923      $       100,264
                                                                              ===============      ===============


Supplemental cash flow information:
  Cash paid during the period for interest                                    $       243,150      $       261,000
</TABLE>


           See accompanying notes to condensed financial statements.


                                        3

<PAGE>

                             ITEC Attractions, Inc.

                     Notes to Condensed Financial Statements
                             June 30, 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
six months ended June 30, 2003 and 2002.
<TABLE>
<CAPTION>

Six months ended            Theater and      Food       Retail
June 30 , 2003              Concessions     Service     Services   Corporate         Total
--------------------------------------------------------------------------------------------
<S>                         <C>           <C>          <C>         <C>            <C>
Sales to unaffiliated
  customers                 $1,548,351    $1,244,280   $635,287    $         -    $3,427,918

Operating income
  (loss)                    $  555,490    $  115,542   $ 57,118    $(1,063,936)   $ (335,786)

Six months ended            Theater and     Food        Retail
June 30 , 2002              Concessions     Service     Services   Corporate         Total
---------------------------------------------------------------------------------------------

Sales to unaffiliated
  customers                 $1,259,667    $1,261,047   $644,187    $         -    $3,164,901

Operating income
  (loss)                    $  513,619    $  149,611   $101,809    $(1,056,089)   $ (291,050)

</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 loss on  derivative  financial  instruments  of $1,014  during the
quarter ended June 30, 2003,  and a gain of $23,573  during the six months ended
June 30, 2003.

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.

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 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.


                                       -5-
<PAGE>

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 shows 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 June 30, 2003  increased 9 percent to $2,503,900
as compared to $2,279,662  for the same quarter of the previous  year.  Revenues
for the six-month  period ended June 30, 2003  increased 8 percent to $3,427,918
compared to $3,164,901 in the prior year period. This increase is a result of an
increase in film revenues in the IMAX  theater,  and the revenues from the Elite
Cinema III.

Direct  operating  expenses were  $1,798,063 for the quarter ended June 30, 2003
representing  72 percent of sales,  as compared to expenses of  $1,579,545 or 69
percent  of  sales  for the  comparable  period  of the  previous  year.  Direct
operating  expenses  were  $2,699,768  for the six months  ended June 30,  2003,
representing  79 percent of sales, as compared to an expense of $2,399,862 or 76
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.

General and administrative  expenses were $175,541 and $190,792 for the quarters
ended June 30, 2003 and 2002 respectively and were $407,854 and $351,535 for the
six months ended June 30, 2003 and 2002  respectively.  This increase in general
and  administrative  expenses is primarily due to an increase in salary and wage
expenses, including bonuses paid in May and June of 2003.

Advertising  and  marketing  expense was $254,572 for the quarter ended June 30,
2003  compared to $233,932  for the same period in 2002 and was $416,344 for the
six months ended June 30, 2003 compared to $393,829 for the same period in 2002.
The  increase  in  advertising  and  marketing  is a result  of an  increase  in
advertising  expense  related to the Elite Cinema III, the Little Opry  theater,
and an overall increase in the advertising budget for 2003 for The Complex.



                                       -6-
<PAGE>

Interest  expense was $121,454 and $133,015 for the quarters ended June 30, 2003
and 2002,  respectively  and was $243,150 for the six months ended June 30, 2003
and $261,000 for the same period in 2002.

Net income was  $22,841 for the  quarter  ended June 30, 2003  compared to a net
loss of $106,978 for the same period of the previous year. Net loss was $578,670
for the six months  ended June 30, 2003  compared to a net loss of $551,891  for
the six months ended June 30, 2002.

LIQUIDITY AND CAPITAL RESOURCES

As  of  June  30,  2003,  current  assets  totaled  $1,017,842,   while  current
liabilities totaled $1,086,966. The Company's current ratio at June 30, 2003 was
..94 to 1.00.

As of June 30, 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 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 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,  and cash flow
from operations.

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 31 CEO and CFO certification pursuant to
               Section 906 of the Sarbanes-Oxley Act of 2002

               Exhibit 32 CEO AND CFO certification 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              8/14/03                           /s/ Paul M. Bluto
                  -------                           -----------------
                                                    Paul M. Bluto
                                                    Chairman and
                                                    Principal Financial Officer
                                                    Chief Executive Officer




Date              8/14/03                           /s/ Paul E. Rasmussen
                  -------                           ---------------------
                                                    Paul E. Rasmussen
                                                    President
                                                    Chief Operating Officer


                                      -10-