UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                AMENDMENT NO. 1
                                  FORM 10-QSB


[X]   QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934

                 For the quarterly period ended: APRIL 30, 2004

[_]   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
      ACT OF 1934 For the transition period ended

Commission file number 333-52268


                    DIRECT RESPONSE FINANCIAL SERVICES, INC.
            --------------------------------------------------------
           (Exact name of small business as specified in its charter)


                                    Colorado
                         ------------------------------
                        (State or other jurisdiction of
                         incorporation or organization)

                                   84-1547578
                         -----------------------------
                        (IRS Employer Identification #)

                              2899 AGOURA ROAD #115
                               WESTLAKE, CA 91361
                                  250-497-6072
                     --------------------------------------
                    (Address of principal executive offices)


                                  250-497-6072
                                ----------------
                               (Telephone Number)

        (Former name, former address, and former fiscal year, if changed
                               since last report)

The number of shares outstanding of each of the issuer's classes of common
equity, as of the last practicable date: Common Stock 21,300,488 as of June 17,
2004.

Transitional Small Business Disclosure Format: [X] YES  [ ] NO

<PAGE>

DIRECT RESPONSE FINANCIAL SERVICES, INC.

QUARTERLY REPORT

                                TABLE OF CONTENTS


FINANCIAL INFORMATION
ITEM 1 - FINANCIAL STATEMENTS AND NOTES                                     3
ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION        10
ITEM 3. - CONTROLS AND PROCEDURES                                           12
OTHER INFORMATION
ITEM 1. - LEGAL PROCEEDINGS                                                 13
ITEM 2. - CHANGES IN SECURITIES AND USE OF PROCEEDS                         13
ITEM 3. - DEFAULTS UPON SENIOR SECURITIES                                   13
ITEM 4. - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS               13
ITEM 5. - OTHER INFORMATION                                                 13
ITEM 6. - EXHIBITS AND REPORTS ON FORM 8-K                                  13
SIGNATURES                                                                  14

                                       II
<PAGE>

                         INDEX TO FINANCIAL STATEMENTS

                    DIRECT RESPONSE FINANCIAL SERVICES, INC.

                   CONSOLIDATED INTERIM FINANCIAL STATEMENTS

                                 April 30, 2004


                                                                        Page
                                                                        ----


      Consolidated Balance Sheets                                        F-2

      Consolidated Statements of Operations                              F-3

      Consolidated Statements of Cash Flows                              F-4

      Notes to Consolidated Financial Statements                         F-5

                                      F-1
<PAGE>

                    DIRECT RESPONSE FINANCIAL SERVICES, INC.
                         (A DEVELOPMENT STAGE COMPANY)

                           CONSOLIDATED BALANCE SHEETS

                                     ASSETS

                                                        April 30,    January 31,
                                                          2004          2004
                                                      (Unaudited)     (Note 1)
                                                      -----------   -----------
CURRENT ASSETS
  Cash                                                $    37,358   $       250
  Inventory                                                65,000        58,000
  Deposit                                                   8,650        25,000
  Prepaid Expense                                           5,229        84,225
                                                      -----------   -----------
      Total current assets                                116,237       167,475

PROPERTY AND EQUIPMENT
  Net of $558 and $447 depreciation at April 30,
   2004 and January 31, 2004                                1,675         1,786

OTHER ASSETS
  Investments                                             200,000       200,000
                                                      -----------   -----------
      Total assets                                    $   317,912   $   369,261
                                                      ===========   ===========

                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES
  Accounts payable and accrued expenses               $   389,329   $   463,566
  Accrued interest payable                                 29,953        15,706
  Shareholder deposit                                     110,000            --
  Advances from stockholders, current portion              10,000        33,067
                                                      -----------   -----------
      Total current liabilities                           539,282       512,339
                                                      -----------   -----------
LONG TERM LIABILITIES
  Advances from stockholders, less current portion        371,760       371,760
  Advances from related party                              20,825        20,825
  Debenture payable                                       135,500       150,000
                                                      -----------   -----------
      Total liabilities                                 1,067,367     1,054,924

Commitments and contingencies                                  --            --

STOCKHOLDERS' EQUITY (DEFICIT)
  Common stock - authorized 100,000,000 shares,
   no par value, 20,236,093 and 19,472,834
   shares issued and outstanding at April 30,
   2004 and January 31, 2004                            1,858,530     1,699,030

  (Deficit) accumulated during the development stage   (2,607,985)   (2,384,693)
                                                      -----------   -----------
      Total stockholders' equity (deficit)               (749,455)     (685,663)
                                                      -----------   -----------

      Total liabilities and stockholders' equity
       (deficit)                                      $   317,912   $   369,261
                                                       ===========   ===========


        The accompanying notes are an integral part of these statements.

                                      F-2
<PAGE>

                    DIRECT RESPONSE FINANCIAL SERVICES, INC.
                         (A DEVELOPMENT STAGE COMPANY)

                     CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (UNAUDITED)

                                                                     April 24,
                                         Three          Three          2002
                                        Months         Months       (inception)
                                        Ending         Ending         through
                                       April 30,      April 30,      April 30,
                                         2004           2003            2004
                                     ------------   ------------   ------------

Revenues                             $        263   $         --   $      2,341
Cost of sales                                  --             --            969
                                     ------------   ------------   ------------
   Gross Profit                               263             --          1,372

Costs and Expenses:
   Consulting expense                      68,092        404,279      1,847,247
   Professional fees                       85,218          6,710        362,004
   Advertising and marketing               19,091          3,503         51,499
   General and administrative              29,873          1,974        203,963
   Rent                                     6,000          6,000         46,856
                                     ------------   ------------   ------------
   Total                                  208,274        422,466      2,511,569

Earnings (loss) from operations          (208,011)      (422,466)    (2,510,197)

Interest income                                --             --             --
Interest expense                          (15,281)        (3,000)       (37,788)
Loss on investment                             --             --        (60,000)
                                     ------------   ------------   ------------

Net (loss)                           $   (223,292)  $   (425,466)  $ (2,607,985)
                                     ============   ============   ============

(Loss) per share                     $          *   $          *   $          *
                                     ============   ============   ============


Weighted average shares outstanding    19,706,286     18,353,167     18,245,657
                                     ============   ============   ============


        The accompanying notes are an integral part of these statements.

                                      F-3
<PAGE>

                       CONSOLIDATED STATEMENT OF CASH FLOWS
                                    (UNAUDITED)

<TABLE>
<CAPTION>
                                                                        April 24,
                                             Three          Three         2002
                                             Months         Months     (inception)
                                             Ending         Ending       through
                                            April 30,      April 30,    April 30,
                                              2004           2003         2003
                                           -----------   -----------   -----------
<S>                                        <C>           <C>           <C>
Cash flows from operating activities:
  Net (loss)                               $  (223,292)  $  (425,467)  $(2,607,985)
  Non-cash items included in net (loss):
    Depreciation                                   111           112           558
    Expenses paid by issuing stock                  --       403,280     1,674,030
    Loss on investment                              --            --        60,000
  Net change in operating assets and
   liabilities:
    Prepaid expenses                            95,346          (100)       36,121
    Inventory                                   (7,000)           --       (65,000)
    Accounts payable and accrued
     liabilities                               (59,990)       15,011       419,282
                                           -----------   -----------   -----------
Net cash (used) by operating activities       (194,825)       (7,164)     (482,994)

Cash flows from investing activities:
  Purchase of investments                           --            --      (260,000)
  Purchase of property and equipment                --            --        (2,233)
                                           -----------   -----------   -----------
Net cash (used) by investing activities             --            --      (262,233)

Cash flows from financing activities:
  Repayment of loans--related parties          (23,067)           --       (23,067)
  Proceeds from shareholder deposit            130,000            --       130,000
  Proceeds from loans payable -
   related parties                                  --         3,165       425,652
  Proceeds from issuance of common stock       125,000            --       150,000
  Proceeds from debenture                           --            --       100,000
                                           -----------   -----------   -----------
Net cash provided by financing activities      231,933         3,165       782,585
                                           -----------   -----------   -----------

Net increase (decrease) in cash                 37,108        (3,999)       37,358
Cash at beginning of period                        250         4,392            --
                                           -----------   -----------   -----------
Cash at end of period                      $    37,358           393        37,358
                                           ===========   ===========   ===========


Supplemental disclosure of cash flow information:

Cash paid during the period for:
  Interest                                         $        --   $        --   $        --
  Income taxes                                     $        --   $        --   $        --
</TABLE>


        The accompanying notes are an integral part of these statements.

                                      F-4
<PAGE>

                    DIRECT RESPONSE FINANCIAL SERVICES, INC.
                         (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  (UNAUDITED)


NOTE 1 - FINANCIAL STATEMENTS

The accompanying  consolidated  financial  statements  included herein have been
prepared by Direct Response Financial Services,  Inc. without audit, pursuant to
the  rules  and  regulations  of the  Securities  and  Exchange  Commission  for
reporting on Form 10-QSB.  Certain  information and footnote disclosure normally
included in the  financial  statements  prepared in  accordance  with  generally
accepted accounting principles have been condensed or omitted as allowed by such
rules  and  regulations,  and the  Company  believes  that the  disclosures  are
adequate to make the information presented not misleading.  It is suggested that
these  financial  statements  be read in  conjunction  with the January 31, 2004
audited financial statements and the accompanying notes thereto contained in the
Annual Report on Form 10-KSB filed with the Securities and Exchange  Commission.
While management  believes the procedures  followed in preparing these financial
statements  are  reasonable,  the  accuracy of the amounts are in some  respects
dependent  upon  the  facts  that  will  exist,  and  procedures  that  will  be
accomplished by the Company later in the year. The results of operations for the
interim periods are not necessarily  indicative of the results of operations for
the full year.  In  management's  opinion all  adjustments  necessary for a fair
presentation of the Company's financial  statements are reflected in the interim
periods included.

Amounts  shown for  January  31,  2004 were  taken  from the  audited  financial
statements of that date.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

ORGANIZATION AND DESCRIPTION OF BUSINESS

The  Company  was  incorporated  in the  State of  Colorado  on April 7, 2000 as
Relevant  Links,  Inc.  The Company is in the  development  stage and has had no
significant operations.

On  April  29,  2002,  the  Company  entered  into  an  Agreement  and  Plan  of
Reorganization  between itself and Direct Response Financial  Services,  Inc., a
Delaware  corporation  (DEL),  and  changed  its  focus  to the  development  of
financial  services  for the direct  response  industry.  Because the  surviving
shareholders  are those of the  subsidiary,  the Company has  accounted  for the
acquisition as a reverse  acquisition,  which is a capital transaction and not a
business combination.  Accordingly, the consolidated statements include only the
results  of  operations  of DEL from the date of  acquisition,  and  comparative
financial  statements  presented are those of the subsidiary,  DEL.  Because the
subsidiary  had been  formed on April 24,  2002,  no  financial  information  is
presented before that date.

On May 16, 2002, the Company  participated in forming Direct Card Services,  LLC
(DCS)  for  the  purpose  of  facilitating  the  Company's  bankcard  processing
business. Under the terms of the LLC agreement, the Company has a 50% interest.

In June of 2002,  the  company  changed  its name to Direct  Response  Financial
Services, Inc.

The Company provides marketing and financial products and services to merchants.

                                      F-5
<PAGE>

                    DIRECT RESPONSE FINANCIAL SERVICES, INC.
                         (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  (UNAUDITED)


DEVELOPMENT STAGE COMPANY

The Company is in the development  stage and has had no significant  operations.
Prior to April 24, 2002, the Company was in a development  stage relating to its
internet  portal  operations.  Subsequent to that date,  the Company is in a new
development  stage  relating  to  the  development  of  its  financial  services
business.

BASIS OF CONSOLIDATION

The accompanying  consolidated financial statements include the Company and its'
wholly owned and controlled  subsidiaries.  All inter-company accounts have been
eliminated in the consolidation.

The  Company  considers  its 50%  interest in DCS to be a  controlling  interest
because of control factors in addition to its profit interest. Because DCS has a
deficit equity position at period end, no minority interest has been recorded.

RECLASSIFICATIONS

Certain  reclassifications  have been made to previously  reported statements to
conform to the Company's current financial statement.

NOTE 3 - STOCK TRANSACTIONS

In accordance to the addendum to  convertible  debenture and warrant to purchase
common  stock the Company  issued  888,259  shares of stock to the holder of the
debenture and converted  $14,500 of the debenture to common stock at the average
of $.16 per share.  In  addition  the  debenture  holder  advanced  the  Company
$110,000 against future conversions.

                                      F-6
<PAGE>

ITEM 2.  MANAGEMENT DISCUSSION AND ANALYSIS

The following discussion of our financial condition and results of our
operations should be read in conjunction with the Financial Statements and Notes
thereto. Our fiscal year ends January 31. This document contains certain
forward-looking statements including, among others, anticipated trends in our
financial condition and results of operations and our business strategy. (See
"Factors Which May Affect Future Results"). These forward-looking statements are
based largely on our current expectations and are subject to a number of risks
and uncertainties. Actual results could differ materially from these
forward-looking statements. Important factors to consider in evaluating such
forward-looking statements include (i) changes in external factors or in our
internal budgeting process which might impact trends in our results of
operations; (ii) unanticipated working capital or other cash requirements; (iii)
changes in our business strategy or an inability to execute our strategy due to
unanticipated changes in the industries in which we operate; and (iv) various
competitive market factors that may prevent us from competing successfully in
the marketplace.


During the previous fiscal quarter to date, we have initiated the following
actions and strategies with regards to the on-going advancement of our business
opportunities:

o ROI Media Services, Inc. - The Company, through its subsidiary Direct Card
Services, LLC, entered into a written contract with ROI Media Services, Inc.
Pursuant to this agreement the parties are to jointly pursue radio networks for
the distribution of debit cards and related products and services. Under the
terms of the agreement Direct Card Services is to advance all monies for debit
card programs in exchange for a priority of repayment for advances made and for
a 50% share of all net profits from debit card sales, transaction income and
other income from related products and services. As part of the agreement ROI,
at its cost and subject to reimbursement, is to identify and negotiate with
radio media providers to partner with ROI and DCS for the offer of debit cards.

As a result of this agreement Emmis Communications Corporation (NasdaqNM:EMMS)
and Spanish Broadcasting System (Nasdaq:SBSA) entered into agreements with DCS
and ROI for the joint offering of debit cards. Each radio network has agreed to
provide significant media to promote the respective debit card program. Each
contract provides for a three year commitment to the debit card program. ROI and
DCS continue to solicit radio media partners for the sale of the Company's debit
cards and other financial products.


o Optimum Pay USA, Inc.- In addition to its pre-existing relationship as a 2%
owner of all outstanding equity in Optimum Pay USA, Inc. the Company, through
its subsidiary Direct Card Services, LLC, entered into several agreements with
OP for issuance and approval of debit card programs. These agreements included
three existing card programs - (1) the DCS Personal Advantage Media Card; (2)
the La Raza Personal Advantage Media Card; and (3) the La Vida Buena Card. Under
each of these agreements, the Company is committed to purchase a minimum order
of 5,000 cards/units. To date, the Company has paid a total of $90,500 against
these minimum orders, leaving balances due under each account as follows: DCS
Personal Advantage Media Card - $61,010; La Raza Personal Advantage Media Card-
$60,000; and La Vida Buena Card - $33,000. Of these amounts, a total of $60,000
is to be held by Optimum Pay in depository and reserve accounts for the
Company's benefit.

All cards are networked through MasterCard. Further, DCS was approved as an
independent sales organization of MasterCard as part of the bank approval
process for the above card programs. In addition, the Company contracted with
Optimum Pay for the delivery and installation of its Internet financial site
called www.globalmoneyonline.com. OP provides the interface with the issuing
bank and the processor for the Company's debit card programs. OP also manages
the data from all card programs as well as provides some form of customer
service for card customers. Additionally, OP operates and maintains the
technology infrastructure for www.globalmoneyonline.com.

o Agent Agreement with CardService International - In addition to its existing
relationship with Chase Merchant Services for the processing of referred
merchant credit and debit card transactions, the Company entered into a
Non-Exclusive, Non-Registered Agent Agreement with CardService International,
Inc. This agreement allows the Company access to an additional card processor,
providing another option for the Company when referring merchant card processing
business.

                                       10
<PAGE>

As it continues to grow, the Company will need additional capital. In the past,
capital needs were met through cash advances by third party investors and
through loans by interested shareholders. In order for the Company to sustain
its projected growth and to achieve its current business model the Company will
require significant capital either through equity investment or through loans.

CAPITAL RAISING ACTIVITIES

We have engaged in the following financing activities and require additional
capital to expand operations to a level where revenues sufficient to sustain
operations can be generated.

Private Sale of Convertible Debenture

In January 2003, as amended on May 19, 2003, we signed a Securities Purchase
Agreement with La Jolla Cove Investors, Inc. for the sale of a $150,000 8%
convertible debenture and non-detachable warrant to purchase up 1,500,000 shares
of our common stock. The debenture bears interest at 8%, matures two years from
the date of issuance and is convertible into shares of our common stock. The
number of common shares into which this debenture may be converted is equal to
the dollar amount of the debenture being converted multiplied by eleven, minus
the product of the conversion price, multiplied by ten times the dollar amount
of the debenture being converted, divided by the conversion price. The
conversion price is equal to the lesser of: (i) $1.00 or (ii) 80% of the average
of the five lowest volume weighted average prices during the 20 calendar days
prior to the conversion date. The full principal amount of the convertible
debentures are due upon default under the terms of convertible debentures. See
the Selling Stockholder section for a Sample Debenture Conversion Calculation.

On or about February 19, 2004, the Company and La Jolla Cove Investors entered
into an Addendum to the debenture which provided that upon effectiveness of the
Company's SB-2 Registration Statement (which was declared effective as of
February 19, 2004), La Jolla would immediately effect a $2,500 conversion of the
debenture and $25,000 warrant exercise, along with providing a $150,000
pre-payment to the Company against future warrant conversions.

On March 23, 2004, the Company and La Jolla entered into another Addendum to the
debenture which provided the following:

      o For a period of 60 days from the Addendum La Jolla would convert no more
      than $2,200 of the debenture and related Warrants per calendar week, on a
      cumulative basis

      o Beginning from the 61st day from the Addendum the 10% monthly maximum
      conversion amount shall be 20% if the volume weighted average price is
      above $0.63

      o The maturity date of the debenture is extended to January 9, 2006, and
      the expiration date of the non-detachable warrant is extended to January
      9, 2007

      o If a conversion election is made by La Jolla on a date when the volume
      weighted average price is below $0.63, the Company shall have the right to
      prepay that portion of the debenture that La Jolla elected to convert at
      150% of such amount.

      As of April 28, 2004, La Jolla has converted $14,500 of the debenture,
leaving a debenture balance of $135,500. As of April 28, 2004, the prepaid
warrant credit balance is $110,000. The total shares issued to La Jolla to date
under the debenture is 888,259.

Private Sale of Stock

During the year, no private sales of stock took place.

                                       11
<PAGE>

ONGOING REQUIREMENTS

We will have to secure additional capital to meet our ongoing requirements and
to meet our stated objectives throughout the 2004 fiscal year. We are
identifying potential investors in conjunction with our current finance
partners, and will seek to secure new investment banking partners on an ongoing
basis. Of course, sources of capital and the cost of capital are subject to
prevailing and general market conditions. Moreover, any terms and conditions
related to such investment or loan are contingent upon satisfactory terms and
conditions for the Company. Based on current market conditions and given our
success in raising private financing in the past, we expect that we will be able
to complete financings as required for growth and operations. We are continuing
to review all opportunities for both long-term equity programs as well as debt
financing. Any significant capital expenses or increases in operating costs will
be dependent upon our ability to raise additional capital, debt financing or
generate revenue from sales of our products or services.

ITEM 3. CONTROLS AND PROCEDURES

(A)   EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

       As of April 30, 2004, we carried out an evaluation, under the supervision
       and with the participation of our Chief Executive Officer and Chief
       Financial Officer, of the effectiveness of the design and operation of
       our disclosure controls and procedures. Based on this evaluation, our
       Chief Executive Officer and Chief Financial Officer concluded that our
       disclosure controls and procedures are effective in timely alerting them
       to material information required to be included in our periodic reports
       that are filed with the Securities and Exchange Commission. It should be
       noted that the design of any system of controls is based in part upon
       certain assumptions about the likelihood of future events, and there can
       be no assurance that any design will succeed in achieving its stated
       goals under all potential future conditions, regardless of how remote. In
       addition, we reviewed our internal controls, and there have been no
       significant changes in our internal controls or in other factors that
       could significantly affect those controls subsequent to the date of their
       last evaluation.


(B)    CHANGES IN INTERNAL CONTROLS

       There were no significant changes in the Company's internal controls or
       in other factors that could significantly affect these controls during
       the quarter covered by this Report or from the end of the reporting
       period to the date of this Form 10-QSB.

                                       12
<PAGE>

                                     PART II

                                OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Direct Response Financial Services, Inc. has never been in bankruptcy,
receivership or any similar legal proceeding, and is not subject to any pending
legal proceedings. Direct Response Financial Services is not aware of any
threatened legal proceedings. The foregoing is also true, to the knowledge of
the company, with respect to each officer, director and control shareholder as
well as any entity owned by any officer, director and control shareholder.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

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

Reports on Form 8-K

None during this reporting period.

Exhibits

31.1  Certification by Chief Executive Officer and Chief Financial Officer
      pursuant to Sarbanes-Oxley Section 302: Provided Herewith

32.1  Certification by Chief Executive Officer and Chief Financial Officer
      pursuant to 18 U.S. C. Section 1350: Provided Herewith

                                       13
<PAGE>

                                   SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                        DIRECT RESPONSE FINANCIAL SERVICES, INC.

                                        By:    /s/Ted Kozub
                                               ----------------------------
                                        Name:  Ted Kozub
                                        Title: Chief Executive Officer and
                                               Chief Financial Officer
                                        Date:  June 21, 2004

                                       14