United States
                              Securities and Exchange Commission
                                    Washington, DC 20549

                                       FORM 10-QSB

                          Quarterly Report Under Section 13 or 15(d) of
                              the Securities Exchange Act of 1934

For the Quarter Ended   			           Commission File Number
March 31, 2002	                             		         0-30935

                                     NOVAMEX USA LTD.
                   (Exact name of registrant as specified in its charter)

                                       OREGON
             (State or other jurisdiction of incorporation or organization)

                                     98-0198290
                          (I.R.S. Employer Identification No.)

                               2281 Guenette street
                      Ville Saint-Laurent, Quebec, Canada  H4R 2E9
                          (Address of principal executive offices)

                                   (514) 339-9355
                    (Registrant's telephone number, including area code)

Securities registered pursuant to Section 12 (b) of the Act:

                                      None

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

State the number of shares outstanding of each of the registrants classes
of common equity, as of the latest practicable date.

Common stock, par value $.001; 10,500,000 shares outstanding as of August
1, 2002.

ITEM 1.  FINANCIAL STATEMENTS

NOVAMEX USA LTD AND SUBSIDIARY

(A DEVELOPMENT STAGE COMPANY)
Consolidated balance sheet (in U.S. dollars)

As at march 31,
                                   	 		  2002  	    2001
ASSETS

CURRENT ASSETS
	Cash	 						$ 8,373	 $ 22,400
	Accounts receivable           		  3,779  	    6,012
	Research and development
	   tax credit receivable        		  4,767         5,352
				                   	-------	  -------
         							 16,919        33,764
EQUIPMENT - net of amortization          		 14,047        16,491

INTANGIBLE ASSET
Proprietary technology			                  1             1
          							--------	  --------
								$ 30,967	 $ 50,256
								========	  =======

LIABILITIES

CURRENT LIABILITIES
Accounts payable and accrued charges          $  93,056   $  191,316
Due to related company		        		 346,465      196,832
								--------	 --------
        						       439,521      388,148
Due to an individual, non-interest
bearing and without specific
methods of repayment                  		    -           5,875
								--------	  -------
        							 439,521      394,023

DEFERRED INCOME TAXES			               4,163        3,413
								--------	  -------
        							 443,684      397,436

DEFICIENCY IN ASSETS

CAPITAL STOCK
Preferred stock, $0.10 par value. 1,000,000 shares
authorized, voting and participating, no shares
outstanding

Common stock, no par value, 100,000,000 shares
authorized, voting and participating,
10,500,000 issued, outstanding and paid        $     332  	     $ 332

DEFICIT ACCUMULATED DURING THE
DEVELOPMENT STAGE  			       	 (439,731)    (354,964)
ACCUMULATED OTHER COMPREHENSIVE INCOME            26,682         7,452
                                                ---------     --------
							       (412,717)     (347,180)
 								$  30,967 	  $  50,256
								=========      ========










NOVAMEX USA LTD AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)

Consolidated statement of income
and deficit (in U.S. dollars)
Period ending March 31
2002 2001
--------------------------------------------------
                               (3 months)    (9 months)   (3 months)  (9 months)
EXPENSES
Operating 				$  ( 1,051)      $  3,347   $  9,369    $ 39,218
Selling	                        -              - 		    379	    665
Administrative                       145		 40,169	 14,646	 40,578
Financial		                    32		    398	    175	    950
Loss (gain) on foreign exchange      110		    719	 (6,329)   	 (8,349)
						------	--------	   -------   -------
            			    (  764)     	 44,633 	 18,240      73,062
LESS revenues realized
during development stage  	       676          1,275      (   33)     6,170
					     -------	--------	 ----------	  -------

LOSS BEFORE INCOME TAXES         ( 1,440)        43,358      18,273     66,892

INCOME TAXES

Deferred					  -		     -		-		-
					    --------	  --------	    -------   -------

Net loss		               ( 1,440)		  43,358       18,273    66,892

Deficit, beginning of period     441,171		 396,373	   36,691	 288,072
					   ---------	 ---------	    -------	  -------

Deficit, end of period 		 $  439,731	     $ 439,731 	$ 354,964  $ 354,964
					============	=========	  ========= =========

Loss per common share	            0.004          0.002        0.006     0.006


Weighted average number of
common shares outsanding       10,500,000     10,500,000  10,500,000  10,500,000
					 ==========	     ==========	==========	=========
















NOVAMEX USA LTD AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)

Consolidated statement of cash flows (in U.S. dollars)
Period ending March 31,
                2002                       2001
       (3 months)    (9 months)    (3 months)   (9 months)

CASH PROVIDED BY (USED IN)
OPERATIONS
Net loss 			  $ 1,440      $ (43,358)    $ (18,273)   $ (66,892)
Items not involving cash
Amortization		      768		 2,318	   1,000	     3,033
Deferred income taxes
Change in non cash
operating working capital:
Accounts receivable         2,218		11,165	   6,643	    19,191
Income taxes receivable   (   249)          -             -              -
Prepaid expenses              		   - 		  (   19)          959
Accounts payable and
 accrued charges		  ( 1,576)		(3,712)	  94,155       114,587
Research and development
 tax credits receivable      					     111
Advances from related
 Company			  (   290)		18,320           -            -
Advances form directors					           -            -
Advance from an individual     -            - 		( 56, 942) 	 (  57,764)
                          ---------     ---------    ----------   ----------
Net cash used in
 operating activities       2,311	    ( 15,267)        26,675       13,114

INVESTING		           -              -              -            -

CASH INCREASE (DECREASE)    2,311       ( 15,267)        26,675       13,114


CURRENCY TRANSLATION
ADJUSTMENT ON CASH	    1,676		 22,044	  (  5,092)	   (  3,643)

CASH AT BEGINNING
OF PERIOD			    4,386		  1,596		 817	     12,929
                           -------	     --------       --------     --------

CASH (DEFICIENCY)
AT END OF PERIOD		  $ 8,373		$ 8,373	  $ 22,400	   $ 22,400
				  ========		=======	  ========	  =========

CASH (DEFICIENCY)
CONSIST OF:

Cash				  $ 8,373		$ 8,373	  $ 22,400	   $ 22,400
				  ======= 		=======       =========    ========







NOVAMEX USA LTD AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)

Statement of other comprehensive income (in US dollars)
Period ending March 31

2002        2001
                        -------------------------      -----------------------
                      (3 months)     (9 months)       (3 months)   (9 months)

Balance at beginning
 of period			$ 25,125	  $ 4,830          $  (   317)   $ ( 1,546)

Effect of translation
 during period		   1,557	   21,852			 7,769	  8,998
                       ---------     ----------          ---------   -----------

Balance at end
 of period			$ 26,682	  $ 26,682		  $  	 7,452    $   7,452
                        =========     ========           ========    =========




































NOVAMEX USA LTD AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
Consolidated operating, selling, administrative and
financial expenses (in U.S. dollars)
Period ending March 31
2002 2001
			          (3 months)    (9 months)   (3 months)    (9 months)

OPERATING EXEPENSES

Amortization		       $  734  	  $ 2,218 	   $   958 		$  2,904
Taxes and permits                 -            -            695           1,664
Rent					     -		-          2,039           7,234
Salaries and fringe benefits   (  662)        2,092       5,696          23,902
Materials                       1,015         1,093         (30)          5,533
Subcontracts				-		  82         -	            78
					  ------	   ---------    -------        -------
$  1,087	  $  5,485     $  9,358       $ 41,315

Grants                    	(  2,138)       (2,138)          11        (2,097)
                              --------      --------     --------       -------
      $( 1,051)  	   $  3,347    $  9,369       $ 39,218

SELLING EXPENSES

Travelling	          			-            -  		  379		     665
					 ========	    =======    =========	 ========
ADMINISTRATIVE EXPENSES

Amortization       		$     33	    $     99   $     43 	$     129
Office expenses				38             603        452          1,509
Professionnal fees		   ( 156)         37,757     14,151         38,368
Registration and trustee fees     230	       1,710        -              572
					  --------       -------    --------       -------
					$    145 	    $ 40,169   $ 14,646       $ 40,578
                              =========	     =======   =========      ========

FINANCIAL EXPENSES

Interest and bank charges 	$	32	    $    398   $    175       $    950
					========= 		======   =========	  =======















ITEM 2.  Management's Discussion and Analysis of Financial Statements

This Form 10-QSB contains certain forward-looking statements.  For this
purpose any statements contained in this Form 10-QSB that are not
statements of historical fact may be deemed to be forward-looking
statements.  Without limiting the foregoing, words such as "may", "will",
"expect", "believe", "anticipate", "estimate" or "continue" or comparable
terminology are intended to identify forward-looking statements.  These
statements by their nature involve substantial risks and uncertainties,
and actual results may differ materially depending on a variety of
factors.

General

Novamex USA Ltd. (the "Company"), was originally incorporated in the state
of Oregon on February 12, 1991 under the name International Business
Development Ltd. The Company was organized and authorized to pursue any
lawful purpose or purposes. The Company amended its Articles of
Incorporation on June 23, 1998, changing its name to Novamex USA Ltd. The
Company has had limited revenues and is considered to be a "development
stage company".

	The Company operates in the biotechnology industry. The Company
develops and manufactures detection kits mainly to non-clinical industry
segments including the agri-food  and veterinary segments.  Non-clinical
methods of testing and detection include those that are not intended to be
used for establishing a clinical diagnosis.  These non-clinical methods
are usually used in house for self control purposes and are most
prominently used in the food industry to better control microbial
contamination during processing.  To be  useful, however, these methods
must meet acceptable performance criteria.

	The Company uses antigen-antibody reaction technology and employ
rapid diagnostic methods in their detection tests.  The Company has
developed unique testing methods in which any detectible reaction takes
place entirely inside a plastic cassette. Their tests also have other
benefits of the rapid diagnostic methods such as no incubation or washing
steps.  Tests developed by the Company produce results in approximately
fifteen minutes.

	Test results are read visually using a colorimetric reaction.
Moreover, these methods do not need any sophisticated equipment and may be
carried out as field tests by workers having no laboratory training.  The
average cost for a test is between U.S. $4.50 and $7 per sample. The
Company has developed timely, affordable tests that do not compromise
accuracy.  The Company's evaluation  results have established 99.4%
accuracy rating on many of its detection tests, although such accuracy
ratings have been established by the Company in its controlled
environment.

	The tests have a shelf life of approximately 14 months when stored
at four degrees Celsius.  Each test uses enzymes or colored
particles coupled with specific antibodies.  Any reaction between
antibodies and antigens are revealed by adding a chromogenic substance
(pigment producing micro-organism) to the sample.  If a reaction has taken
place, or in other words the test is positive, the test will yield a blue
color that is visible to the naked eye.

	The general hygiene kit is the only test kit currently
commercialized and it has produced limited revenue since September of
2001.  This kit does not require any special equipment and can be
performed by anyone with minimal training.  These tests have advantages
over other popular hygiene tests that are often costly, difficult to
interpret and may give variable or inconsistent results.  This test
currently represents the largest source of revenue for the Company.  The
Company is currently developing three test kits.  The company is currently
concentrating its efforts in the development of three rapid test kits, in
order to increase its focus and chances of success.

Liquidity and Capital Resources

At March 31, 2002, the Company had cash of $8,373 on hand.  The Company
has limited capital resources and is substantially dependent upon sales
proceeds from the Company's general hygiene test kit to meet its capital
requirements.  Sales from the hygiene test kit are the only source of
revenue and currently will not provide sufficient capital through the
development stage.  As a result, the Company may need to seek additional
capital through traditional bank loans, a private offering of common stock
or another form of debt or equity financing. If the Company is not
successful in raising sufficient capital through any of the aforementioned
options, the ability of the Company to meet its financial obligations in a
timely manner or to remain in business is doubtful.

Results of Operations

Comparison of the three months ended March 31, 2002 and the three months
ended March 31, 2001.

During the third quarter of fiscal 2002, the Company's net cash used in
operations was similar to that of the previous years at $2,311 compared to
cash used in operations of $26,675 during the third quarter of fiscal
2001. The third quarter 2002 operating gain of $1,440 compared to an
operating loss of $18,273 for the third quarter of 2001 is due to the
diminished operations and therefore expenses of the Company.

The Company realized limited revenues in the third quarter of fiscal 2002
and none in the same quarter of 2001.  The absence of revenue was due to
the Company's increased efforts to research and develop other test kits
and spending less time selling the general hygiene test kit. The Company
expects to continue to utilize any revenues generated by the Company to
continue its research and development efforts. The company will, during
fiscal 2002-2003 deploy considerable effort in promoting the general
hygiene test kit and signing new distribution agreements in different
countries around the world.

Administrative expenses decreased dramatically from $14,646 in 2001 to
$145 for the third quarter of 2002 while operating expenses decreased
significantly from $9,369 in the third quarter 2001 compared to none in
the same quarter of 2002.  This change is directly related to the decrease
in expenses, itself related to the decrease in sales of the general
hygiene kit.  The administrative and operating expenses are currently
larger than the revenues due to the Company's accelerated efforts
marketing,  research and development activities.  The Company expects its
operating expenses to stay at the current level for the next twelve
months.


Comparison of the nine months ended March 31, 2002 and the nine months
ended March 31, 2001.

The Company realized revenues of $1,275 from product sales in the nine
months ended March 31, 2002, compared to $6,170 in the same period of
2001. The Company did not have any other significant income in the nine
months of fiscal 2002.
Administrative expenses decreased slightly during the nine months ended
March 31, 2002 to $40,169 compared to $40,578.  The Company expects this
to continue at a similar rate for the next twelve months.

As of March 31, 2002, accounts receivable was $3,779, compared to accounts
payable also at March 31, 2002, which was $93,056. The increased imbalance
of accounts receivable to accounts payable is a result of the Company's
development stage operations.  The efforts have been placed on research
and development of test kits.  As a result, the increase in the total
deficit from inception through the nine months ending March 31, 2002, was
$439,731 compared to $354,964 for the same period in 2001.

PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

	None.

Item 2.  Changes in Securities

	No instruments defining the rights of the holders of any class of
registered securities have been materially modified, limited or qualified.

	Since the Company's last report for the year ended June 30, 2002,
the Company has not issued or sold any securities which are not registered
under the Securities Act of 1933.

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) Reports on Form 8-K

		One current report on Form 8-K was filed by the Company on
August 3, 2002, reporting a change in control.


(B) Exhibits.  The following exhibits are included as part of this report:
		None

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this to be signed on its behalf by the
undersigned thereunto duly authorized.

Novamex USA, Ltd.

August 5th, 2002			  	By:
--------------------------------
President


August 5th, 2002			  	By:
-------------------------------
Secretary































SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this to be signed on its behalf by the
undersigned thereunto duly authorized.

Novamex USA, Ltd.


August 5th, 2002			  	By: _____________________
President


August 5th, 2002			  	By:______________________
Secretary


8