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

                          FORM 10-QSB

      (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
            OF THE SECURITIES EXCHANGE ACT OF 1934

       For the Quarterly Period Ended March 31, 2002

                OR

(   ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
         OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File No. 0-25803

             AMERICA'S SENIOR FINANCIAL SERVICES, INC.
 -----------------------------------------------------------------
(Exact name of small business issuer as specified in its charter)

                    Florida	               65-0181535
-----------------------------------	-----------------------
(State or other jurisdiction of 	(I.R.S. Employer Identification No.)
 incorporation or organization)

         10800 Biscayne Blvd. Suite 500
               Miami, FL 33161
	----------------------------------------
	(Address of principal executive offices)
                 (305) 751-3232
	----------------------------------------------------
	(Registrant's telephone number, including area code)


	----------------------------------------------------
	(Former Address and telephone number)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 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

Number of shares outstanding of each of the issuer's classes of common equity:

As of March 31, 2002, the Company had a total of 20,270,983 shares of
Common Stock, par value $.001 per share (the "Common Stock"), outstanding.

Transitional Small Business Disclosure Format:	Yes [   ]		No	[ X ]







                 AMERICA'S SENIOR FINANCIAL SERVICES, INC.
                           FORM 10-QSB
                   QUARTER ENDED MARCH 31, 2002



INDEX

	PAGE NO.
	--------------
PART I
Item 1.     Financial Statements                                          3-7
Item 2.     Management's Discussion and Analysis of Financial Condition
            and Results of Operations                                    8-10

PART II
Item 1.     Legal Proceedings	                                             10
Item 2.     Changes in Securities                                          11
Item 6.     Exhibits and Reports on Form 8-K                               11

SIGNATURES                                                                 11
































                                     2
PART 1
Item 1.  FINANCIAL STATEMENTS

AMERICA'S SENIOR FINANCIAL SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)

ASSETS	                       31-Mar.-02       31-Dec-01
                                   (Unaudited)
CURRENT ASSETS:
Cash and cash equivalents          $ 1,194,701       $1,316,406
Brokerage fees receivable              152,322          144,877
Employee advances                       11,669           16,837
Mortgage loans held for sale         3,042,224        2,991,322
Prepaid expenses                       209,754          324,483

TOTAL CURRENT ASSETS                 4,610,670        4,793,925

PROPERTY AND EQUIPMENT, net            337,912          359,538

OTHER ASSETS
Goodwill, net                        4,836,911        4,836,911
Notes receivable                       250,000          250,000
Other assets                            69,161           70,216

    TOTAL OTHER ASSETS               5,156,072        5,157,127

    TOTAL                          $10,104,654      $10,310,590
LIABILITIES AND STOCKHOLDERS EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt
 and capital lease obligations    $      2,734      $     2,734
Lines of credit                        669,721          921,476
Warehouse lines of credit            2,955,918        2,966,792
Accounts payable                       662,749          593,457
Accrued liabilities                  1,845,866        1,821,823

      TOTAL CURRENT LIABILITIES      6,136,988        6,306,282

CAPITAL LEASE OBLIGATIONS,
less current portion                    43,785           43,785

TOTAL LIABILITIES                    6,180,773        6,350,067

STOCKHOLDERS EQUITY:
Preferred stock, $0.001 par value; 10,000,000 shares
Authorized, 4,118,003 shares issued and outstanding 5,034,669
at September 30,2001 and 5,651,336 at December 31, 2001.
                                         5,652           5,035
Common stock, $0.001 par value; 25,000,000 shares
Authorized, shares issued and outstanding, 20,270,983 at
March 31,2002 17,006,150 at December 31, 2001.
                                        20,271          17,006
Additional paid in capital          15,872,260      15,384,122
Retained earnings (deficit)        (11,445,641)    (10,575,660)
Income Year to Date                   (528,661)   (    869,980)

      TOTAL STOCKHOLDERS' EQUITY     3,923,881       3,960,523

TOTAL                             $ 10,104,654     $10,310,590

See notes to consolidated financial statements

                                     3



















































AMERICA'S SENIOR FINANCIAL SERVICES, INC. AND SUBSIDIARIES
                 CONSOLIDATED INCOME STATMENTS
                        (UNAUDITED)

                                          THREE MONTHS
                                         ENDED MAR 31,


                                         2002             2001

REVENUES                              $1,430,476      $1,947,612

EXPENSES:
Payroll and related expense            1,238,035       1,324,837
Admin, processing, and occupancy         507,852         533,073
Depreciation                              22,779          21,120
Goodwill amortization                       0             64,473
Acquisitions, mergers and investment
related expense                          161,537         210,949

    TOTAL EXPENSES                     1,930,203       2,154,452

LOSS FROM OPERATIONS                    (499,727)       (206,840)

OTHER

Interest Income
Interest expense                         (28,934)        ( 8,578)

    Total other,                        ( 28,934)        ( 8,578)

INCOME/(LOSS) BEFORE EXTRAORDINARY ITEMS
AND INCOME TAXES                        (528,661)       (215,418)

EXTRAORDINARY ITEMS
Gain on settlement of Debenture
(No applicable income tax)                                986,690


PROVISION FOR INCOME TAXES                  -                -
NET INCOME/(LOSS)                       (528,661)        771,272

INCOME/(LOSS) PER COMMON SHARE:
Basic                                 $   (0.029)     $    0.093

Diluted                               $   (0.029)     $    0.093

Weighted average common
shares outstanding                     18,136,531      8,284,328



See notes to consolidated financial statements


                                    4



        AMERICA'S SENIOR FINANCIAL SERVICES, INC. AND SUBSIDIARIES
                 CONSOLIDATED STATEMENT OF CASH FLOWS
                            (UNAUDITED)

                                                            THREE MONTHS
                                                           ENDED MARCH 31,

CASH FLOWS FROM OPERATING ACTIVITIES                   2002               2001

Net Income / (Loss)                                  (528,661)       $ 771,272

Adjustments to reconcile net income / (loss) to net cash
Provided by (used in) operating activities:
Depreciation and amortization                          22,780           85,593
Extraordinary item settlement of debenture                            (986,690)
Common stock issued for services                      477,021          359,638
Changes in certain assets and liabilities:
Brokerage fee receivable                               (7,600)        (336,458)
Employee advances                                       5,169            1,300
Prepaid expenses                                      114,730          (69,282)
Other current assets and liabilities, net               1,206             (292)
Accounts payable                                       63,726         (267,406)
Accrued liabilities                                  (220,312)         416,313

NET CASH PROVIDED BY (USED IN)
OPERATING ACTIVITIES                                  (71,941)         (26,012)

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase / Sale of property and equipment              (1,155)          (5,584)
Increase in Mortgage loans                            (55,710)        (102,407)

NET CASH USED IN INVESTING ACTIVITIES:                (56,865)        (107,991)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, net            15,000           30,000
Other capital contributions                           (50,000)           -

Net borrowings under line of credit                    42,101          501,814
Change in long-term debt                                 -            (166,355)

NET CASH PROVIDED BY FINANCING ACTIVITIES               7,101          365,459

NET INCREASE /(DECREASE) IN CASH AND CASH
EQUIVALENTS                                          (121,705)         231,456

CASH AND CASH EQUIVALENTS, beginning of period      1,316,406          463,079

 CASH AND CASH EQUIVALENTS, end of period          $1,194,701          694,535


                    See notes to consolidated financial statements



                                    5




       AMERICA'S SENIOR FINANCIAL SERVICES, INC. AND SUBSIDIARIES
                CONSOLIDATED STATEMENT OF CASH FLOWS
                         (UNAUDITED)

(continued)
                                                       THREE MONTHS
                                                       ENDED MARCH 31,

                                                       2002        2001
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest paid in cash during the period             $ 10,527    $ 7,581
Income taxes paid in cash during the period              -            -

SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:
During the first quarter 2002, the Company recognized $27,888 of expense
 related  to the vesting of restricted stock issued to employees.
During the first quarter 2002, the Company issued 1,264,644 shares valued at
 $153,630 for services.
During the first quarter 2002, the Company issued 433,333 shares valued at
$47,667 as payment for the acquisition of  certain assets and employees of
Dupont  Mortgage.
During the first quarter 2002, the Company issued 1,416,856 shares valued at
$170,023 as retention bonuses for executives and in lieu of certain executive's
 cash salaries for 2001.



























                                   6




Note 1, Basis of Presentation

The unaudited, condensed, consolidated financial statements included
herein, commencing at page 3, have been prepared in accordance with the
requirements of Regulation S-B and supplementary financial information
included herein, if any, has been prepared in accordance with Item 310(b) of
Regulation S-B and, therefore, omit or condense certain footnotes and other
information normally included in financial statements prepared in accordance
with generally accepted accounting principles. In the opinion of management,
all adjustments  (consisting only of normal recurring accruals) necessary for
a fair presentation of the financial information for the interim periods
reported have been made. Results of operations for the three months ended
March 30, 2002 are not necessarily indicative of the results that may be
expected for the year ending December 31, 2002. These financial statements
should be read in conjunction with the Company's Form 10-KSB, as filed with
the Securities and Exchange Commission on April 12, 2002.

Note 2, Gain / Loss Per Share

The Company follows the provisions of SFAS No. 128, "Earnings Per
Share," which requires presentation of basic earnings per share including only
outstanding common stock, and diluted earnings per share including the effect
of dilutive common stock equivalents. The Company's basic and diluted income
or losses per share for all periods presented are the same since the Company's
stock options and warrants are anti-dilutive.
Earnings per share from continuing operations equated to (0.029) for the
period ending March 31, 2002.  This compares favorably to the earnings per
share for the full year ended December 31,2001 of (.069) per share


Note 3, Income Taxes

	The Company follows the provisions of SFAS No. 109, "Accounting for
Income Taxes." In accordance with this statement, the Company records a
valuation allowance so that the deferred tax asset balance reflects the
estimated amount of deferred tax assets that may be realized.  Therefore, the
deferred tax assets generated by the net losses in the periods presented have
been offset in their entirety by a deferred tax asset valuation allowance.


Note 4, Loans held for Sale/ Warehouse Line of Credit

	 As part of Jupiter Mortgage Corporation acquisition, completed in
August 1999, the Company obtained certain loan funding credit facilities. As a
result, the balance sheet of the Company includes a "Warehouse line of credit"
and "loans held for sale." The warehouse line of credit is used to fund loans
as they are produced, and this line of credit is secured by the mortgages.






                                     7
ITEM 2.	MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

INTRODUCTORY STATEMENT

	The Private Securities Litigation Reform Act provides a "safe harbor"
for forward-looking statements. Certain statements included in this form 10-
QSB are forward looking and are based on the Company's current expectations
and are subject to a number of risks and uncertainties that could cause actual
results to differ significantly from results expressed or implied in any
forward-looking statements made by, or on behalf of, the Company. The Company
assumes no obligation to update any forward-looking statements contained
herein or that may be made from time to time by, or on behalf of, the
Company.

RESULTS OF OPERATIONS
Total Revenues from loan operations for the three-month period ending March
31, 2002 were $1,430,476 versus 1,947,612 for the comparable period in 2001.
This is a decrease over the prior year of  $517,136 or 26 percent.  The
Company's forward mortgage origination platform experienced a sales decrease
as a direct result of decreased refinancing activity in the first quarter of
2002, compared to the increased refinancing activity that occurred in the
first quarter of 2001.  The Company's business model for forward mortgage
origination relies on relationship selling, and the Company does not seek out
refinance activity or spend money on advertising to attract such business.
Rather, the Company remains focused on its relationships with realtors and
developers.

The Company recently announced that it acquired the assets and operations of
Dupont Mortgage with a transaction date of December 31, 2001.  During the
first quarter of 2002, the Company began to execute its plan to integrate the
Dupont operations into Jupiter's wholesale mortgage subsidiary, Synergy
Mortgage Solutions.  This integration included obtaining approval from certain
of Dupont's prior warehouse facilities, and certain of these approvals were
not obtained until April 2002.  Certain other approvals are still pending.
Subsequently the Company did not realize a benefit from the newly acquired
wholesale operation, but expects to see results starting in the second quarter
of this year.

Total expenses from ALL operations (production related and corporate office
related) for the three-month period ended March 31, 2002 were $1,930,203
versus $2,154,452.  This is a decrease in overall expenses over the prior year
of  $224,249 or 10 percent.  The decrease is largely attributable to decreased
commission dollars paid as a result of reduced revenues.  However, additional
expenses were also incurred as a direct result of integration efforts regarding
Dupont Mortgage.

Most of the Company's first quarter loss was "non cash".  Included in the
above expenses for the first quarter 2002 are AMSE corporate office expenses
of  $410,573. These are from accruals and other operational costs related to
investor relations, legal and accounting issues and NOT directly attributable
to the Company's loan production.  The majority of theses expenses are related
to the amortization of contracts that date back into the prior year.  $368,862
of these corporate expenses were "non-cash".


                                   8
As referenced above, the Company also incurred one-time expenses regarding the
expansion of its wholesale mortgage platform to include the operations of
Dupont Mortgage.  These expenses were related to accounting, personnel and
system integration.  The expanded wholesale platform is expected to begin
producing significant new revenues in the 2nd quarter of this year.

Total other expenses for the three-month period ended March 31, 2002 were
$28,934 versus $8,578 (+237%) for the three-month period ended March 31, 2001.
This increase was attributable to interest costs for lines of credit.

LIQUIDITY AND CAPITAL RESOURCES

As previously discussed, the Company has been seeking to raise working and
expansion capital through the sale of its securities. As a result of the
Company's improving cash position, stronger balance sheet and increased sales
trend institutional investors have made several investment proposals. Although
there can be no assurances that any agreements will be reached, the Company is
actively negotiating several major transactions which if concluded could
provide the Company with additional working capital and funds for additional
acquisitions.

There can be no assurances any such transactions will be completed.

BUSINESS RISKS AND UNCERTAINTIES

WE HAVE HAD A HISTORY OF OPERATING LOSSES AND THIS MAY
CONTINUE TO BE THE CASE

    We have incurred losses in each of the last three years. We cannot assure
that we can achieve profitability in the short and/or long terms, if at all.
We may be required to raise additional capital in the future to sustain our
operations. We can give no assurance that we will be successful in procuring
such capital on terms we deem to be favorable. If we are unable to procure
such capital, we may be required to curtail our level of activities.

IF WE LOSE OUR KEY PERSONNEL, OUR BUSINESS AND
PROSPECTS MAY BE ADVERSELY AFFECTED.

    Although as our sales grow we continue to expand our management, we only
have a few key officers and directors. If any of them should leave our
company, this could have an adverse effect on our business and prospects.

AVAILABILITY OF MORTGAGES AT REASONABLE RATES.

    The success of our mortgage origination business is dependent upon the
availability of mortgage funding at reasonable rates. Although there has been
no limitation on the availability of mortgage funding in the last few years,
there can be no assurance that mortgages at attractive rates will continue to
be available.







                                   9
COMPETITION.

    There are many sources of mortgages available to potential borrowers
today. These sources include consumer finance companies, mortgage banking
companies, savings banks, commercial banks, credit unions, thrift
institutions, credit card issuers and insurance companies. Many of these
alternative sources are substantially larger and have considerably greater
financial, technical and marketing resources than we do. Additionally, many
financial services organizations against whom we compete for business have
formed national loan origination networks or have purchased home equity
lenders. We compete for mortgage loan business in several ways, including
convenience in obtaining a loan, customer service, marketing and distribution
channels, amount and term of the loan, loan origination fees and interest
rates. If any of these competitors significantly expand their activities in
our market, our business could be materially adversely affected. Changes in
interest rates and general economic conditions may also affect our business
and our competitors. During periods of rising interest rates, competitors who
have locked into lower rates with potential borrowers may have a competitive
advantage.

    The Company continues to seek out a federally chartered savings and loan
which would allow the Company to expand both its forward and reverse mortgage
originations to a nationwide reach, without the onerous expense of individual
state licensing and regulatory compliance issues.

	PART II

ITEM 1.  LEGAL PROCEEDINGS

  In December of 1998 we advanced $250,000 to Home Care America, Inc.
(HCAI), an acquisition candidate, pursuant to a promissory note. The
purpose of the note was for HCAI to use as working capital. There is no
affiliation between HCAI and us.

In April 1999 we sued HCAI and Robert G. Williams in the Circuit Court
of the 11th Judicial Circuit, Miami-Dade County, Florida for repayment
of the $250,000 promissory note.

As of March 15, 2002 no settlement or judgment has been made pursuant
to this litigation. No assurances can be given as to the final outcome
of this matter.

	     On April 9, 2001 a legal action was filed in the Eleventh Circuit
Court in Dade County by Michael Shelley, a former director of the company
who was removed from his position by a majority vote of the shareholders
on November 30, 2000. The former director has sued the Company and
Company's Chairman, Nelson A. Locke, in a derivative action alleging
mismanagement and other matters. The Company's Board of Directors has
investigated these allegations.  After an investigation described below,
the Company's Board determined these allegations to be without merit and
a continuation of the former director's behaviors, which resulted in his
removal from the board. To respond as completely as possible, the Board
formed an Investigative Committee that consisted of directors deemed
independent of the controversy, and the Committee researched all of the


                                   10
former director's complaints.  An investigative report was compiled by
the Committee and filed with the Court in January 2002.  The Company
intends to petition the Court to dismiss the suit, award costs and
damages and impose certain other legal sanctions on behalf of the
Company.

The Company has reached an amicable settlement with several former
employees acquired as part of the Company's acquisitions, whose positions
were subsequently eliminated.  The Company expects the matter to be fully
resolved prior to the end of 2002.

The Company reports that there is no outstanding litigation pending of any kind
with the Company's former debenture holder as reported in previous filings.  The
Company believes that as of this writing all parties are in compliance with the
settlement agreement.

ITEM 2.  CHANGES IN SECURITIES
During the first quarter of 2002, the Company issued 1,264,644 shares of
our common stock for services to be rendered. The Company also issued
1,416,856 shares of our common stock as payment in lieu of cash salaries
due to certain executives, and retention bonuses for the key management
executives of the Company.  In March 2002, these shares were registered
via an S-8 registration statement and may be sold into the market
according to the applicable SEC guidelines, and certain 10b5-1 written
for distribution as they may apply.

In addition 433,333 shares of our common stock and 666,667 of our
preferred stock were issued for the acquisition of Dupont Mortgage.  Such
shares were issued without registration pursuant to an exemption from
registration under Section 4 (2) of the Securities Act of 1933.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K


 None.

	SIGNATURES

Pursuant to 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.

		AMERICA'S SENIOR FINANCIAL SERVICES, INC.

Dated: May 14, 2002
			By:_/s/Nelson  A. Locke______________________
			Nelson A. Locke,
			Chief Executive Officer


	By: /s/Dean J. Girard___________________________
			Dean J. Girard
			Principal Accounting Officer



						11