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
December 31, 2001	                                   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
December 31, 2001.










ITEM 1.  FINANCIAL STATEMENTS
Consolidated balance sheet (in U.S. dollars)
As at December 31, 2001
                                              2001              2000
                                           ---------          ---------
ASSETS
CURRENT ASSETS
    Cash                                    $  4,386          $   817
    Accounts receivable                        5,997           13,452
    Research and development
      tax credit receivable                    4,785            5,809
                                            ---------          ---------
                                              15,167           20,078

EQUIPMENT - net of amortization               14,873           18,357
INTANGIBLE ASSET
   Proprietary technology                          1                1
                                            ---------          -------
                                           $  30,042       $   38,437
                                           =========        ===========

LIABILITIES
CURRENT LIABILITIES
   Accounts payable and accrued charges    $  94,632      $   284,339
   Due to related company                    346,756           22,761
                                           ----------       -----------
                                             441,388          307,100
   Due to an individual, non-interest
   bearing and without specific methods
   of repayment                                   -            64,425
                                           -----------        ----------
                                             441,388           371,525
DEFERRED INCOME TAXES                          4,368             3,587
                                            ---------          ---------
                                             445,756           375,112
                                             ========          =======
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                           (441,171)          (336,691)

ACCUMULATED OTHER COMPREHENSIVE INCOME        25,125               (317)
                                            ---------          ---------
                                            (415,714)          (336,676)
                                          $   30,042        $    38,436
                                           =========         ==========

Consolidated statement of income and deficit (in U.S. dollars)
Period ending December 31


                                2001                      2000
                          ------------------      ----------------------
                       (3 months)    (6 months)   (3 months)  (6 months)

EXPENSES

  Operating          $     897         $ 4,398    $  13,146    $ 29,850
  Selling                   -               -           286         286
  Administrative        18,966          40,024       16,647      25,932
  Financial                340             366          674         775
  Loss (gain) on
   foreign exchange       (17)             609          799      (2,020)
                       --------        ---------    ---------   --------
                       20,186           45,397       31,552      54,823

LESS revenues
realized during
development stage         599              599        1,562       6,204

LOSS BEFORE
INCOME TAXES           19,587           44,798       29,990      48,619




INCOME TAXES
Deferred                 -              -             -          -
                     ---------       ---------  ---------  --------
Net loss               19,587         44,798     29,990      48,619

Deficit, beginning
of period             421,584          396,373      306,702     288,072
                      --------         --------     --------    -------
Deficit, end
of period          $  441,171          441,171   $  336,692   $ 336,691
                   ===========         =======    =========    ========

Loss per
common share
0.002            0.004        0.003       0.005

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











Consolidated statement of cash flows (in U.S. dollars)
Period ending December 31
                                  2001                    2000
                       (3 months)   (6 months)   (3 months)  (6 months)
                       -----------------------     ---------------------

CASH PROVIDED BY (USED IN)
OPERATIONS

Net loss             $ (19,587)     $ (44,798)  $ (29,990)   $ (48,619)
Items not
involving cash

 Amortization              770          1,550       1,001         2,033
 Deferred income taxes


Change in non cash
operating working capital:

Accounts receivable       2,199         8,947        5,512       12,548
Income taxes
Receivable                   44           249           -           -
Prepaid expenses                           -           482          978
Accounts payable and
accrued charges           6,655        (2,136)      18,761       20,432
Research and development
tax credits receivable                                (198)        (111)
Advances from related
Company                   8,783        18,610           -            -
Advances form directors                                 -            -
Advance from an
Individual                  -             -

           172         (822)
                         ---------     ---------    ---------  ---------
Net cash used in
operating activities     (1,136)      (17,578)      (4,260)     (13,561)

INVESTING                   -             -            -            -

CASH INCREASE (DECREASE) (1,136)

       (17,578)     (4,260)     (13,561)
CURRENCY TRANSLATION
ADJUSTMENT ON CASH        3,716         20,368        (634)       1,449

CASH AT BEGINNING
OF PERIOD                 1,806          1,596       5,711       12,929
                        --------        ------    --------      --------
CASH (DEFICIENCY)
AT END OF PERIOD        $ 4,386       $  4,386     $   817       $  817
                        =======       ========     =======       =======

CASH (DEFICIENCY)
CONSIST OF:
Cash                    $ 4,386       $  4,386     $   817       $  817
                        =======       ========     =======       ======

Statement of other comprehensive income (in U.S dollars)
Period ending December 31




                                2001                   2000
                     ----------------------    -----------------------
                     (3 months)  (6 months)   (3 months)    (6 months)




Balance at
beginning of period   $ 21,435    $ 4,830       $  293       $  (1,546)



Effect of translation
during period            3,690     20,295         (610)           1,229
                      ---------   --------       --------     ---------



Balance at end
of period            $  25,125   $ 25,125       $ (317)         $  (317)
                      ========   =========     =========        ========































Consolidated operating, selling, administrative and
financial expenses (in U.S. dollars)
Period ending December 31


                                     2001                   2000
                          (3 months)  (6 months)   (3 months) (6 months)
                       --------------------------    -------------------

OPERATING EXEPENSES

Amortization                  $ 737      $ 1,484      $  959   $ 1,947
Taxes and permits                -            -          475       969
Rent                             -            -        3,088     5,196
Salaries and fringe
Benefits                         -         2,754       8,662    18,206
Materials                        78           78         (66)    5,563
Subcontracts                     82           82          (2)       78
                             -------     --------      ------    ------
                              $ 897      $ 4,397     $ 13,116 $ 31,959

Grants                           -           -             30   (2,109)
                             --------     -------     --------   ------
                              $ 897      $ 4,397     $ 13,146 $ 29,850
                             ======      =======     ========  ========


SELLING EXPENSES

Travelling                     -             -       $    286 $   286
                             ========     =======    ========  =======


ADMINISTRATIVE EXPENSES

Amortization                $    33      $    66      $    42 $    86
Office expenses                  86          565          359   1,057
Professionnal fees           18,129       37,913       16,080  24,217
Registration and
trustee fees                    718        1,480          166     572
                           ---------      -------      ------  -------
                           $ 18,966     $ 40,024     $ 16,647 $25,932


FINANCIAL EXPENSES

Interest and bank charges  $    340     $    366      $   674 $   775
                           ========      ========     ======= ========









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 2000.  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 December 31, 2001, 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 and it is also
dependent on shareholder advances.  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 is
actively seeking 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 December 31, 2001 and the three
months ended December 31, 2000.

During the second quarter of fiscal 2002, the Company's net cash used in
operations was similar to that of the previous years at $1,136 compared
to cash used in operations of $4,260 during the second quarter of fiscal
2001. The second quarter 2002 operating loss of $19,587 compared to an
operating loss of $29,990 for the second quarter 2001 is due to the
continued lack of sales revenue from sales of the general hygiene kit or
other test kits.

The Company realized limited revenues of $599 in the second quarter of
fiscal 2002 compared to $1,562 of revenue in the same quarter of 2001.
The substantial decrease in revenue was due to (i) the Company's
increased efforts to research and develop other test kits and spending
less time selling the general hygiene test kit and (ii) the Company's
continued efforts to find sufficient financing.  The Company expects to
continue to utilize any revenues generated by the Company to continue
its research and development efforts as well as corporate development.
The company will, during fiscal 2002 deploy considerable effort in
promoting the general hygiene test kit and signing new distribution
agreements in different countries around the world.

Administrative expenses increased slightly from $16,647 in the second
quarter of fiscal 2001 to $18,966 for the second quarter of 2002 while
operating expenses decreased from $13,146 in the second quarter 2001
compared to $897 in the same quarter of 2002.  This change is directly
related to the decrease in expenses related to 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 increase in the next twelve months due to the
Company's commitment to marketing its products.


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 September 30, 2001,
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

A current report on Form 8-K was filed on December 5, 2001 which
reported the change in certifying accountants.

(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 Form 10-QSB to be signed on its behalf
by the undersigned thereunto duly authorized.

                                       NOVAMEX USA, LTD


Date:   August 5, 2002                       /s/ Karim Menassa
                                           ----------------------
                                             Karim Menassa
                                              President

Date:   August 5, 2002                      /s/ Jean-Francois Welch
                                                -------------------
                                                Jean-Francois Welch
                                                     Secretary