SECURITIES AND EXCHANGE COMMISSION
                   Washington, D.C. 20549

                         FORM 10-QSB


(Mark One)
   [X]Quarterly  report under Section 13  or  15(d)  of  the
     Securities  Exchange  Act of  1934  for  the  quarterly
     period ended December 31, 2003.

   [   ]Transition report under Section 13 or 15(d)  of  the
     Securities  Exchange  Act of 1934  for  the  transition
     period from              to               .


             Commission file number: 000-049635

             TECHNOLOGY ACQUISITION CORPORATION
  (Exact name of small business issuer as specified in its
                          charter)


            Nevada                         87-2099034
 (State or other jurisdiction           (I.R.S. Employer
              of                       Identification No.)
incorporation or organization)



       509 N. Winnetka, Suite 207, Dallas, Texas 75208
           (Address of principal executive office)
                        (Postal Code)

                2807 Allen Street, Suite 713
                     Dallas, Texas 75204
               (Registrant's mailing address)

                       (214) 948-2990
    (Registrant's telephone number, including area code)


Check whether the issuer: (1) filed all reports required  to
be  filed by Section 13 or 15(d) of the Exchange Act  during
the  past  12  months (or for such shorter period  that  the
registrant was required to file such reports), and  (2)  has
been  subject to such filing requirements for  the  past  90
days.

        Yes  x                                No____


The  number  of  outstanding shares of the  issuer's  common
stock, $0.01 par value (the only class of voting stock),  as
of December 31, 2003 was 510,900.
<PAGE> 1
                      TABLE OF CONTENTS

INDEX

PART I    FINANCIAL INFORMATION

Item 1.  Financial Statements

Interim Balance Sheet

Interim Statements of Operations

Interim Statements of Cash Flows

Notes to Interim Financial Statements

Item 2.  Management's Discussion and Analysisor Plan of
Operations

Item 3.  Control and Procedures

PART II   OTHER INFORMATION

Item 1. Legal Proceedings

Item 2. Changes in Securities

Item 3. Defaults Upon Senior Securities

Item 4. Submission of Matters to a Vote of Security Holders

Item 5. Other Information

Item 6. Exhibits

Signatures








<PAGE> 2
               PART I - FINANCIAL INFORMATION

ITEM 1.FINANCIAL STATEMENTS
As  used  herein,  the term "Company" refers  to  Technology
Acquisition   Corporation,  a  Nevada  corporation,   unless
otherwise  indicated.   In the opinion  of  management,  the
accompanying unaudited financial statements included in this
Form  10-QSB  reflect  all adjustments (consisting  only  of
normal recurring accruals) necessary for a fair presentation
of the results of operations for the periods presented.  The
results  of  operations for the periods  presented  are  not
necessarily indicative of the results to be expected for the
full year.

<TABLE>

             TECHNOLOGY ACQUISITION CORPORATION
                (A Development Stage Company)
               Interim Unaudited Balance Sheet
                      December 31, 2003
<CAPTION>

<S>                                      <C>
ASSETS
Current Assets
 Cash                                          $ 237
Total Current Assets

Fixed assets, net                              1,130

Total Assets                                 $ 1,367

LIABILITIES AND STOCKHOLDERS' DEFICIENCY
Current Liabilities
 Accounts payable and accrued               $ 29,596
liabilities
 Loans from shareholders                      39,900
Total Current Liabilities                     69,496

Stockholders' Equity
Preferred stock: $0.25 Par Value;
Authorized Shares, 5,000,000, Issued and           -
Outstanding, None
Common stock: $0.01 Par Value; Authorized
Shares, 30,000,000; Issued and                 5,109
Outstanding, 510,900
Additional paid-in capital                 4,482,465
Deficit accumulated during the
development stage                        (4,555,703)
Total stockholders' deficiency              (68,129)

Total Liabilities and Stockholders'          $ 1,367
Deficiency

</TABLE>

        See condensed notes to financial statements.
<PAGE> 3
<TABLE>

             TECHNOLOGY ACQUISITION CORPORATION
                (A Development Stage Company)
         Interim Unaudited Statements of Operations
  For the Three and Nine Months Ended December 31, 2003 and
                          2002, and
  For the period from Inception (June 21, 1972) to December
                          31, 2003
<CAPTION>

<S>                        <C>         <C>        <C>         <C>      <C>

                              Three     Three      Nine      Nine
                             Months     Months    Months    Months  Cumulative
                              Ended     Ended      Ended    Ended      From
                            December   December  December  December  Inception
                               31,     31, 2002     31,    31, 2002
                              2003                 2003

Revenues                       $ -       $ -        $ -      $ -        $ -

Operating Expenses
 General and                   28,396    50,466    112,813   74,436     990,968
administrative expenses

Operating Loss               (28,396)  (50,466)  (112,813) (74,436)   (990,968)

Other Expenses
 Realized losses on
permanent declines in               -         -          -        - (1,574,100)
marketable equity
securities
 Interest expense                   -         -          -        -   (359,826)
Total Other Expenses                -         -          -        - (1,933,926)

Net Loss Before              (28,396)  (50,466)  (112,813) (74,436) (2,924,894)
Discontinued Operations

Provision for Income Taxes          -         -          -        -           -

Discontinued Operations
 Operating loss                     -         -          -        - (2,344,158)
 Gain on disposal of                -         -          -        -     713,349
discontinued operations
Loss from Discontinued              -         -          -        - (1,630,809)
Operations

Net Loss Available to      $ (28,396)         $          $        $           $
Common Stockholders                    (50,466)  (112,813) (74,436) (4,555,703)

Basic and diluted loss per
share of common stock:
 Net loss before             $ (0.06)  $ (0.09)   $ (0.23) $ (0.13)   $ (11.23)
discontinued operations
 Discontinued operations            -         -          -        -      (6.26)
 Net loss per common share   $ (0.06)  $ (0.09)   $ (0.23) $ (0.13)   $ (17.49)

Weighted average number of
common                        510,209   577,112    496,753  577,112     260,424
shares outstanding



</TABLE>



        See condensed notes to financial statements.
<PAGE> 4
<TABLE>

             TECHNOLOGY ACQUISITION CORPORATION
                (A Development Stage Company)
         Interim Unaudited Statements of Cash Flows
  For the Nine Months Ended December 31, 2003 and 2002, and
  For the period from Inception (June 21, 1972) to December
                          31, 2003
<CAPTION>

<S>                                <C>         <C>        <C>

                                      Nine        Nine
                                     Months      Months  Cumulative
                                      Ended      Ended      From
                                    December    December  Inception
                                       31,        31,
                                      2003        2002

Cash flows from operating
activities
Net loss                                     $         $           $
                                     (112,813)  (74,436) (4,555,703)
Adjustments to reconcile net loss
to net cash used in operating
activities
 Depreciation                              221        49         344
 Common stock issued for services       12,000         -     269,500
 Related party expenses converted       31,950         -     117,375
to paid-in capital
 Common stock issued for licensing           -         -      10,000
agreement
 Transfer of asset for past                  -         -      14,595
services rendered
 Notes payable incurred for                  -         -     220,000
services rendered
 Realized losses on marketable               -         -   1,574,100
securities
 Write off stock subscription           50,000         -      50,000
receivable
Changes in Assets and Liabilities
 Increase (decrease) in accounts         4,814    51,137      29,596
payable and accrued liabilities
 Increase (decrease) in related              -
party expenses
Net noncash activities related to            -         -     831,653
discontinued operations
Total adjustments                       98,985    51,186   3,117,163
Net cash used in operating            (13,828)  (23,250) (1,438,540)
activities

Cash flows from investing
activities
 Capital expenditures                        -   (1,474)     (1,474)
Net cash flows used in investing             -   (1,474)     (1,474)
activities

Cash flows from financing
activities
 Checks issued in excess of cash             -      (94)           -
 Proceeds from the sale of common            -         -     202,226
stock
 Loans from shareholders                12,900    27,000     101,205
 Capital contributions                       -         -      82,412
 Proceeds on notes payable                   -         -   1,054,408
Net cash provided by financing          12,900    26,906   1,440,251
activities

Increase (decrease) in cash and          (928)     2,182         237
cash equivalents

Cash and cash equivalents,               1,165         -           -
beginning of period

Cash and cash equivalents, end of        $ 237   $ 2,182       $ 237
period


Cash paid for interest and income       -          -          -
taxes:
</TABLE>

        See condensed notes to financial statements.
<PAGE> 5
<TABLE>

             TECHNOLOGY ACQUISITION CORPORATION
                (A Development Stage Company)
         Interim Unaudited Statements of Cash Flows
  For the Six Months Ended September 30, 2003 and 2002, and
                     for the period from
       Inception (June 21, 1972) to September 30, 2003
<CAPTION>

<S>                                  <C>         <C>       <C>

                                        Nine      Nine
                                       Months    Months  Cumulative
                                        Ended     Ended     From
                                      December  December Inception
                                      31, 2003  31, 2002
Supplemental noncash investing and
financing activities:
 Common stock issued for services     $ 12,000      -    $ 269,500
rendered
 Related party expense converted to   $ 117,375          $ 117,375
paid-in capital
 Common stock issued for licensing        -         -    $ 10,000
agreement
 Gain on exchange of net assets for
common stock of Healthbridge, Inc.        -         -    $ 713,349
 Transfer of 330,000 shares of
Healthbridge, Inc. to majority
stockholder in full satisfaction of       -         -    $ 14,595
shareholder loans and for past
services rendered
 Realized losses on marketable                           $
securities                                               1,574,100
 Notes payable incurred for services      -         -    $ 220,000
rendered
 Conversion of debt to additional         -         -    $
paid-in capital                                          1,143,002
 Common stock exchanged for               -         -    $
subsidiary                                               2,520,009
 Notes payable exchanged for              -         -    $ 638,010
inventory
 Common stock issued for                  -         -    $ 102,500
organization costs
 Write down of inventory                  -         -    $ 572,829
</TABLE>


        See condensed notes to financial statements.
<PAGE> 6
             TECHNOLOGY ACQUISITION CORPORATION
                (A Development Stage Company)
            NOTES TO INTERIM FINANCIAL STATEMENTS
                      December 31, 2003

NOTE 1. STATEMENT OF INFORMATION FURNISHED

The accompanying unaudited interim financial statements have
been  prepared  in accordance with Form 10-QSB  instructions
and  in  the  opinion of management contains all adjustments
(consisting of only normal recurring adjustments)  necessary
to  present fairly the financial position as of December 31,
2003,  and the results of operations and cash flows for  the
three  and  nine  months ended December 31, 2003  and  2002.
These  results  have been determined on the  basis  of  U.S.
generally  accepted accounting principles and practices  and
applied  consistently with those used in the preparation  of
the Company's 2003 Annual Report on Form 10-KSB.

Certain   information   and  footnote  disclosure   normally
included in the financial statements presented in accordance
with U.S. generally accepted accounting principles have been
condensed  or omitted. It is suggested that the accompanying
financial  statements  be  read  in  conjunction  with   the
accompanying   financial  statements   and   notes   thereto
incorporated  by  reference  in the  Company's  2003  Annual
Report on Form 10-KSB.

Certain  accounts from prior periods have been  reclassified
to  conform  to  the  current period's  presentation.  These
changes  had  no  effect on previously reported  results  of
operations or total stockholders' deficiency.


NOTE 2. GOING CONCERN, FINANCIAL RESULTS AND LIQUIDITY

The accompanying financial statements have been prepared  in
conformity with generally accepted accounting principles  in
the   United   States   of   America,   which   contemplates
continuation  of  the Company as a going concern,  which  is
dependent upon the Company's ability to establish itself  as
a  profitable  business. The Company has been a  development
stage  company and has incurred net operating  losses  since
inception (June 21, 1972). To date, the Company has not been
profitable and it faces all the risks common to companies in
their     early    stages    of    development,    including
undercapitalization and uncertainty of funding sources, high
initial expenditure levels and uncertain revenue streams, an
unproven   business  model,  and  difficulties  in  managing
growth.  The  Company's recurring losses  raise  substantial
doubt about its ability to continue as a going concern.  The
financial  statements  do not reflect any  adjustments  that
might result from the outcome of this uncertainty.

The  Company's plan of operation for the coming year  is  to
identify and acquire a favorable business opportunity and it
is  exploring  the possibility of selling  or  merging  with
another  Company.  The Company does not plan  to  limit  its
options  to any particular industry, but will evaluate  each
opportunity  on  its merits. Although the  Company  has  not
entered  into  any  binding  agreement  to  effect  such   a
transaction,  the  board of directors of  the  Company  does
consider such offers and would consider all of the terms  of
any  such  offer as part of its fiduciary duty to  determine
whether any such transaction is in the best interest of  the
Company's  stockholders. If the Company's board of directors
does  determine that a sale or merger of the Company  is  in
the  best interest of the Company's stockholders, its  board
of  directors may determine to pursue such a transaction and
the  consideration  to  be  paid  in  connection  with  such
transaction  would  be used to expand the acquired  business
and fund future operations. Management believes that despite
the   financial  hurdles  and  funding  uncertainties  going
forward, that it can successfully merge with another company
if properly funded and executed.

Management  plans to conduct limited operations to  minimize
operating  expenses  until external  funds  can  be  raised,
internal cash flows are generated, or a merger is completed.
Management  believes that it will continue to  incur  losses
for  at  least  the  next  twelve months  and  will  require
additional  funds  through  a  combination  of  loans   from
shareholders  and debt or equity financing  to  insure  that
there  is  sufficient capitalization. The Company's  minimal
costs involve in the maintenance of corporate franchise  and
filing   reports   and  reporting  obligations   under   the
Securities  Exchange Act of 1934. These  expenses  primarily
involve  accounting fees, auditing fees, filing fees,  legal
and  professional fees, which have been, and continue to be,
advanced   by   the   Company's   President   and   majority
shareholder.  To  meet these objectives, the  President  and
majority  shareholder has advanced the Company approximately
$40,000.   The   Company  expects  to  aggressively   pursue
additional  sources of funds, the form of  which  will  vary
depending on the prevailing market and other conditions, and
may  include  a sale transaction or the issuance  of  equity
securities.  However,  there  is  no  assurance  that   such
additional  funds  will  be available  for  the  Company  to
finance  its  operations on acceptable  terms,  if  at  all.
Furthermore, there is no assurance the net proceeds from any
successful financing arrangement will be sufficient to cover
cash  requirements  as  the  Company  expands  its  business
operations.

The continued existence of the Company is dependent upon its
ability  to  meet  future  financing  requirements  and  the
success   of   future   operations.  These   factors   raise
substantial doubt about the Company's ability to continue as
a  going concern. Management believes that actions presently
taken  to  revise  the  Company's  operating  and  financial
requirements  provide the opportunity  for  the  Company  to
continue  as  a  going  concern. The  Company's  ability  to
achieve these objectives cannot be determined at this time.


NOTE 3. EARNINGS PER SHARE

Basic  earnings or loss per share is based on  the  weighted
average  number of shares outstanding during the  period  of
the financial statements. Diluted earnings or loss per share
are  based  on the weighted average number of common  shares
outstanding and dilutive common stock equivalents. All share
and  per  share  information are adjusted  retroactively  to
reflect  stock  splits  and  changes  in  par  value,   when
applicable.  All earnings or loss per share amounts  in  the
financial statements are basic earnings or loss per share.

The  computation of basic and diluted loss per share  is  as
follows for the periods indicated:
<TABLE>


<S>          <C>       <C>       <C>        <C>       <C>

                                                          Cumulative
                3 m/e      3 m/e     9 m/e       9 m/e       From
              12/31/03   12/31/02   12/31/03   12/31/02   Inception
Numerator-net
loss          $(28,396)  $(50,466) $(112,813)  $(74,436) $(4,555,703)
available to
common
stockholders

Denominator-
weighted        510,209    577,112    496,753    577,112      260,424
average
number of
common shares
outstanding

Basic and      $ (0.06)   $ (0.09)   $ (0.23)   $ (0.13)    $ (17.49)
diluted loss
per common
share
</TABLE>


NOTE 4. RELATED PARTY TRANSACTIONS

Accrued expenses.

Consulting fees - During the nine months ended December  31,
2003,  the  Company  accrued $3,000 per month  for  services
rendered  to  the  Company  by its  President  and  majority
shareholder  such  as  maintaining the  books  and  records,
overseeing  and meeting compliance requirements,  and  other
general and administrative duties as deemed necessary. There
is no contract.

Rent  expense  - During the nine months ended  December  31,
2003,  the  Company accrued $550 per month for  the  use  of
office  facilities in Dallas and Munich, Germany. There  are
no  rental  agreements and the monthly rents  are  $250  and
$300, respectively.

During the quarter ended December 31, 2003, the President of
the  Company agreed to convert $117,375 of accrued  expenses
owed  him  to additional paid-in capital due to insufficient
capital  resources.  The balance converted  represented  (a)
$42,375  in accrued expenses and (b) $75,000 due and payable
for  services rendered related to the Company's development,
production,   and  marketing  of  its  prior  self-contained
infectious   waste  disposal  system  (Redloc  II   Disposal
System.)  by  two  companies that are  wholly-owned  by  the
President  of  this  Company. The  services  were  performed
during  the  period  October 1, 1996 to December  31,  1997.
There was no contract.

Loans from shareholders.

From  time  to time, the Company's president or one  of  his
related entities, advances funds to pay expenses incurred on
behalf  of the Company. As of December 31, 2003, the balance
outstanding  is  $39,900. These loans  are  unsecured,  non-
interest bearing and due on demand.

Oxywell Agreement.

On  June 6, 2003, the shareholders of Oxywell GmbH filed for
liquidation of the Company due to the inability to  generate
sufficient  cash for operations. This also ended the  tenure
of  Wilhelm  Liesner and essentially the  Company's  ongoing
business  efforts  related to the Oxywell  water-oxygenating
system.

Common stock.

See Note 5.


NOTE 5. STOCKHOLDERS' EQUITY

Common stock.

During  the  quarter ended December 31,  2003,  the  Company
issued 20,000 shares of common stock at $0.60 per share,  or
$12,000  for consideration of services rendered. The  shares
were  issued  at  the  fair market  value  on  the  date  of
issuance.  The shares were issued as follows:  7,500  shares
were   issued  to  two  directors  for  business  management
consulting  services rendered, 2,500 shares were issued  for
accounting services rendered, and 10,000 shares were  issued
for consulting services rendered.

Reverse split.

During  the  quarter ended December 31,  2003,  pursuant  to
written  consent  of two thirds of all  of  the  issued  and
outstanding  shares of the Corporation's common  stock,  the
Company effectuated a 10:1 reverse stock split of all of the
issued  and  outstanding shares of the Corporation's  common
stock.  All  share  and  per  share  information  have  been
retroactively restated.

Stock Based Compensation.

The  Company  granted stock option during fiscal  year  2002
which  are  described more fully in Note 6 of the  Company's
annual  report on Form 10KSB at March 31, 2003. The  Company
has  adopted the disclosure-only provisions of Statement  of
Financial  Accounting  Standards No.  123,  "Accounting  for
Stock-Based Compensation." Accordingly, no compensation cost
has   been  recognized  for  the  stock  option  plans.  Had
compensation cost for the Company's stock option plans  been
determined  based on the fair value at the  grant  date  for
awards in fiscal 2003 consistent with the provisions of SFAS
No.  123, the Company's net loss and loss per share for  the
fiscal  third  quarter  and  year-to-date  would  have  been
reduced to the pro forma amount indicated below:

                3 m/e     3 m/e      9 m/e      9 m/e
              12/31/03  12/31/02    12/31/03  12/31/02
Net loss
 As reported  $(28,396) $(50,466)  $(112,813)         $
                                               (74,436)
 Pro Forma    $(43,036) $(65,106)  $(156,732)         $
                                              (118,355)
Loss per
share
 As reported   $ (0.06)  $ (0.09)    $ (0.23)  $ (0.13)
 Pro Forma     $ (0.08)  $ (0.11)    $ (0.32)  $ (0.21)

The fair value of each option grant is estimated on the date
of  grant using the Black-Scholes option-pricing model  with
the  following weighted-average assumptions used for grants:
fair  value  of  $0.10  per share;  dividend  yield  of  0%;
expected volatility of 0%; discount rate of 5%; and expected
lives of 3 years.


<PAGE> 7

ITEM  2.  MANAGEMENT'S DISCUSSION AND ANALYSIS  OR  PLAN  OF
OPERATION

When   used   in  this  discussion,  the  words  "believes",
"anticipates",   "expects",  and  similar  expressions   are
intended   to  identify  forward-looking  statements.   Such
statements  are  subject to certain risks and uncertainties,
which  could cause actual results to differ materially  from
those  projected. Readers are cautioned not to  place  undue
reliance  on  these forward-looking statements, which  speak
only   as   of   the  date  hereof.  Technology  Acquisition
Corporation  (TAC)  undertakes no  obligation  to  republish
revised  forward-looking statements  to  reflect  events  or
circumstances  after  the  date hereof  or  to  reflect  the
occurrence  of unanticipated events. Readers are also  urged
to  carefully  review  and consider the various  disclosures
made  by  TAC which attempt to advise interested parties  of
the  factors which affect the business, in this  report,  as
well  as the TAC's periodic reports on Forms 10-KSB,  10-QSB
and 8-K filed with the Securities and Exchange Commission.

PLAN OF OPERATIONS

The accompanying financial statements have been prepared  in
conformity with generally accepted accounting principles  in
the   United   States   of   America,   which   contemplates
continuation  of  the Company as a going concern,  which  is
dependent upon the Company's ability to establish itself  as
a  profitable  business. The Company has been a  development
stage  company and has incurred net operating  losses  since
inception (June 21, 1972). To date, the Company has not been
profitable and it faces all the risks common to companies in
their     early    stages    of    development,    including
undercapitalization and uncertainty of funding sources, high
initial expenditure levels and uncertain revenue streams, an
unproven   business  model,  and  difficulties  in  managing
growth.  The  Company's recurring losses  raise  substantial
doubt about its ability to continue as a going concern.  The
financial  statements  do not reflect any  adjustments  that
might result from the outcome of this uncertainty.

The  Company's plan of operation for the coming year  is  to
identify and acquire a favorable business opportunity and it
is  exploring  the possibility of selling  or  merging  with
another  Company.  The Company does not plan  to  limit  its
options  to any particular industry, but will evaluate  each
opportunity  on  its merits. Although the  Company  has  not
entered  into  any  binding  agreement  to  effect  such   a
transaction,  the  board of directors of  the  Company  does
consider such offers and would consider all of the terms  of
any  such  offer as part of its fiduciary duty to  determine
whether any such transaction is in the best interest of  the
Company's  stockholders. If the Company's board of directors
does  determine that a sale or merger of the Company  is  in
the  best interest of the Company's stockholders, its  board
of  directors may determine to pursue such a transaction and
the  consideration  to  be  paid  in  connection  with  such
transaction  would  be used to expand the acquired  business
and fund future operations. Management believes that despite
the   financial  hurdles  and  funding  uncertainties  going
forward, that it can successfully merge with another company
if properly funded and executed.

Management  plans to conduct limited operations to  minimize
operating  expenses  until external  funds  can  be  raised,
internal cash flows are generated, or a merger is completed.
Management  believes that it will continue to  incur  losses
for  at  least  the  next  twelve months  and  will  require
additional  funds  through  a  combination  of  loans   from
shareholders  and debt or equity financing  to  insure  that
there  is  sufficient capitalization. The Company's  minimal
costs involve in the maintenance of corporate franchise  and
filing   reports   and  reporting  obligations   under   the
Securities  Exchange Act of 1934. These  expenses  primarily
involve  accounting fees, auditing fees, filing fees,  legal
and  professional fees, which have been, and continue to be,
advanced   by   the   Company's   President   and   majority
shareholder.  To  meet these objectives, the  President  and
majority  shareholder has advanced the Company approximately
$40,000.   The   Company  expects  to  aggressively   pursue
additional  sources of funds, the form of  which  will  vary
depending on the prevailing market and other conditions, and
may  include  a sale transaction or the issuance  of  equity
securities.  However,  there  is  no  assurance  that   such
additional  funds  will  be available  for  the  Company  to
finance  its  operations on acceptable  terms,  if  at  all.
Furthermore, there is no assurance the net proceeds from any
successful financing arrangement will be sufficient to cover
cash  requirements  as  the  Company  expands  its  business
operations.

The continued existence of the Company is dependent upon its
ability  to  meet  future  financing  requirements  and  the
success   of   future   operations.  These   factors   raise
substantial doubt about the Company's ability to continue as
a  going concern. Management believes that actions presently
taken  to  revise  the  Company's  operating  and  financial
requirements  provide the opportunity  for  the  Company  to
continue  as  a  going  concern. The  Company's  ability  to
achieve these objectives cannot be determined at this time.

The Company does not plan to hire any significant employees,
purchase  any  significant assets, or incur any  significant
research  and  development  costs  during  the  next  twelve
months.

RELATED PARTY TRANSACTIONS

Accrued expenses.

Consulting fees - During the nine months ended December  31,
2003,  the  Company  accrued $3,000 per month  for  services
rendered  to  the  Company  by its  President  and  majority
shareholder  such  as  maintaining the  books  and  records,
overseeing  and meeting compliance requirements,  and  other
general and administrative duties as deemed necessary. There
is no contract.

Rent  expense  - During the nine months ended  December  31,
2003,  the  Company accrued $550 per month for  the  use  of
office  facilities in Dallas and Munich, Germany. There  are
no  rental  agreements and the monthly rents  are  $250  and
$300, respectively.

During the quarter ended December 31, 2003, the President of
the  Company agreed to convert $117,375 of accrued  expenses
owed  him  to additional paid-in capital due to insufficient
capital  resources.  The balance converted  represented  (a)
$42,375  in accrued expenses and (b) $75,000 due and payable
for  services rendered related to the Company's development,
production,   and  marketing  of  its  prior  self-contained
infectious   waste  disposal  system  (Redloc  II   Disposal
System.)  by  two  companies that are  wholly-owned  by  the
President  of  this  Company. The  services  were  performed
during  the  period  October 1, 1996 to December  31,  1997.
There was no contract.

Loans from shareholders.

From  time  to time, the Company's president or one  of  his
related entities, advances funds to pay expenses incurred on
behalf  of the Company. As of December 31, 2003, the balance
outstanding  is  $39,900. These loans  are  unsecured,  non-
interest bearing and due on demand.

Oxywell Agreement.

On  June 6, 2003, the shareholders of Oxywell GmbH filed for
liquidation of the Company due to the inability to  generate
sufficient  cash for operations. This also ended the  tenure
of  Wilhelm  Liesner and essentially the  Company's  ongoing
business  efforts  related to the Oxywell  water-oxygenating
system.

Common stock.

During  the  quarter ended December 31,  2003,  the  Company
issued 20,000 shares of common stock at $0.60 per share,  or
$12,000  for consideration of services rendered. The  shares
were  issued  at  the  fair market  value  on  the  date  of
issuance.  The shares were issued as follows:  7,500  shares
were   issued  to  two  directors  for  business  management
consulting  services rendered, 2,500 shares were issued  for
accounting services rendered, and 10,000 shares were  issued
for consulting services rendered.

<PAGE> 8

RISK FACTORS

We  have  sought to identify what we believe to be the  most
significant  risks  to  our  business.  However,  we  cannot
predict whether, or to what extent, any of such risks may be
realized  nor  can we guarantee that we have identified  all
possible  risks that might arise. Investors should carefully
consider   all  of  such  risk  factors  before  making   an
investment  decision with respect to our  Common  Stock.  We
provide  the  following  cautionary  discussion  of   risks,
uncertainties  and possible inaccurate assumptions  relevant
to our business. These are factors that we think could cause
our  actual  results  to  differ  materially  from  expected
results.  Other  factors  besides those  listed  here  could
adversely affect us.

We are vulnerable to volatile market conditions.

The  market  prices  for securities of  developmental  stage
companies,  including ours, are highly  volatile  and,  from
time  to  time,  experience  significant  price  and  volume
fluctuations that are unrelated to the operating performance
of   particular   companies.  In   addition,   technological
innovations   or  new  products,  governmental   regulation,
developments  in  patent  or other proprietary  rights,  and
general  market conditions may have a significant effect  on
the market price of our common stock.

We face intense competition.

Many   of  the  organizations  competing  against  us   have
financial and other resources substantially greater than our
own. In addition, many of our competitors have significantly
greater  experience  in research and development,  obtaining
regulatory   approvals,  and  commercializing  and   selling
products.  Accordingly,  our competitors  may  succeed  more
rapidly than we will.

We will continue to incur operating losses.

Our  business  operations  began in  1972  and  we  incurred
operating  losses  since inception.  The  Company's  current
ability  to  generate revenues and to achieve  profitability
and  positive cash flow will depend on the successful of our
future  operations. We expect to incur significant operating
losses over the next twelve months and our ability to become
profitable will depend our ability to find a suitable merger
candidate.

We may not obtain additional financing.

We  anticipate that our existing funds will be sufficient to
fund  our operating requirements as currently planned during
2004.  We  expect to use, rather than generate,  funds  from
operations  for the foreseeable future, and as a result,  we
will  need  significant  funding to  pursue  other  business
opportunities.  The actual amount of funds we  will  require
will be determined by a number of factors, many of which are
beyond  our control. We will seek additional funding through
collaborative arrangements, by borrowing money or by selling
additional equity securities. Any sales of additional equity
securities are likely to result in further dilution  to  our
then  existing stockholders. Further, if we issue additional
equity  securities,  the  new  equity  securities  may  have
rights,  preferences  or  privileges  senior  to  those   of
existing  holders of our common stock. We  may  also  borrow
money  from conventional lenders, possibly at high  interest
rates  and on other terms that are unfavorable to us,  which
will  increase  the  risk  of  your  holdings.  Despite  our
efforts,  additional funding may not be available to  us  at
all or only on terms that are unacceptable to us.

You  may lack an effective vote on corporate matters due  to
control by management.

You  may  lack  an effective vote on corporate  matters  and
management  may be able to act contrary to your  objectives.
If management votes together, it could influence the outcome
of   corporate   actions  requiring  shareholder   approval,
including  the  election  of directors,  mergers  and  asset
sales.  As  a result, new stockholders may lack an effective
vote  with  respect to the election of directors  and  other
corporate matters. Therefore, it is possible that management
may  take  actions  with respect to its  ownership  interest
which may not be consistent with your objectives or desires.

We  may  experience  significant fluctuations  in  quarterly
results.

Significant  variations in our quarterly  operating  results
may  adversely affect the market price of our common  stock.
Our  operating  results have varied  on  a  quarterly  basis
during  our  operating history, and we expect to  experience
significant  fluctuations  in  future  quarterly   operating
results. These fluctuations have been and may in the  future
be  caused by numerous factors, many of which are outside of
our control. We believe that period-to-period comparisons of
our results of operations will not necessarily be meaningful
and  that you should not rely upon them as an indication  of
future  performance. Also, it is likely that  our  operating
results  could  be below the expectations of  public  market
analysts  and  investors. This could  adversely  affect  the
market price of our common stock.

We  depend  on  our  key  executive officers  and  technical
personnel.

The  success  of  our  business plan depends  on  attracting
qualified   technical,  and  knowledgeable  personnel,   and
failure  to  retain the necessary personnel could  adversely
affect our business. Competition for qualified personnel  is
intense, and we may need to pay premium wages to attract and
retain   personnel.   Attracting  and  retaining   qualified
personnel is critical to our business. Inability to  attract
and retain the qualified personnel necessary would limit our
ability to implement our business plan successfully.

We may not have a majority of independent directors.

We  cannot  guarantee  our Board of Directors  will  have  a
majority  of  independent directors in the  future.  In  the
absence   of  a  majority  of  independent  directors,   our
executive officers, who are also principal stockholders  and
directors,   could  establish  policies   and   enter   into
transactions   without  independent  review   and   approval
thereof. This could present the potential for a conflict  of
interest  between the Company and its stockholders generally
and the controlling officers, stockholders or directors.

Large  sales  of  common stock could  adversely  affect  our
common stock and our ability to raise capital.

Future  sales  of our common stock by existing  stockholders
pursuant  to Rule 144 under the Securities Act, or following
the  exercise  of  outstanding options and  warrants,  could
adversely  affect  the  market price of  our  common  stock.
Substantially  all of the outstanding shares of  our  common
stock   are   freely   tradable,  without   restriction   or
registration under the Securities Act, other than the  sales
volume  restrictions of Rule 144 applicable to  shares  held
beneficially by persons who may be deemed to be  affiliates.
Our  directors  and  executive  officers  and  their  family
members  are  not  under lockup letters or  other  forms  of
restriction on the sale of their common stock. The  issuance
of  any  or all of these additional shares upon exercise  of
options   will  dilute  the  voting  power  of  our  current
stockholders  on  corporate matters and, as  a  result,  may
cause  the  market  price of our common stock  to  decrease.
Further,  sales of a large number of shares of common  stock
in the public market could adversely affect the market price
of  the  common stock and could materially impair our future
ability  to generate funds through sales of common stock  or
other equity securities.

We are considered a penny stock.

The Company's stock differs from many stocks, in that it  is
a  "penny stock." The Securities and Exchange Commission has
adopted a number of rules to regulate "penny stocks."  These
rules  include, but are not limited to, Rules 3a5l-l, 15g-1,
15g-2,  15g-3,  15g-4,  15g-5, 15g-6  and  15g-7  under  the
Securities and Exchange Act of 1934, as amended.

Because  our  securities probably constitute  "penny  stock"
within the meaning of the rules, the rules would apply to us
and our securities. The rules may further affect the ability
of  owners  of  our  stock to sell their securities  in  any
market  that  may develop for them. There may be  a  limited
market  for  penny stocks, due to the regulatory burdens  on
broker-dealers. The market among dealers may not be  active.
Investors in penny stock often are unable to sell stock back
to  the  dealer  that sold them the stock. The  mark-ups  or
commissions  charged by the broker-dealers  may  be  greater
than  any profit a seller may make. Because of large  dealer
spreads,   investors  may  be  unable  to  sell  the   stock
immediately back to the dealer at the same price the  dealer
sold the stock to the investor. In some cases, the stock may
fall  quickly in value. Investors may be unable to reap  any
profit  from any sale of the stock, if they can sell  it  at
all.

Stockholders  should  be  aware  that,  according   to   the
Securities  and Exchange Commission Release No.  34-  29093,
the  market  for penny stocks has suffered in  recent  years
from patterns of fraud and abuse. These patterns include:

  -    Control of the market for the security by one or a few
    broker-dealers that are often related to the promoter or
    issuer;

  -    Manipulation of prices through prearranged matching of
    purchases and sales and false and misleading press releases;

  -    "Boiler room" practices involving high pressure sales
    tactics and unrealistic price projections by inexperienced
    sales persons;

  -     Excessive and undisclosed bid-ask differentials  and
    markups by selling broker-dealers; and

  -     The  wholesale  dumping of the  same  securities  by
    promoters  and  broker-dealers after  prices  have  been
    manipulated to a desired level, along with the inevitable
    collapse of those prices with consequent investor losses

Furthermore,  the  "penny stock" designation  may  adversely
affect  the  development  of  any  public  market  for   the
Company's  shares  of  common stock or,  if  such  a  market
develops,  its continuation. Broker-dealers are required  to
personally determine whether an investment in "penny  stock"
is suitable for customers.

Penny  stocks are securities (i) with a price of  less  than
five  dollars  per  share; (ii) that are  not  traded  on  a
"recognized" national exchange; (iii) whose prices  are  not
quoted  on  the  NASDAQ automated quotation system  (NASDAQ-
listed  stocks  must still meet requirement (i)  above);  or
(iv)  of  an  issuer  with  net tangible  assets  less  than
$2,000,000  (if the issuer has been in continuous  operation
for  at  least three years) or $5,000,000 (if in  continuous
operation for less than three years), or with average annual
revenues of less than $6,000,000 for the last three years.

Section  15(g) of the Exchange Act, and Rule  15g-2  of  the
Commission require broker-dealers dealing in penny stocks to
provide  potential investors with a document disclosing  the
risks  of  penny stocks and to obtain a manually signed  and
dated  written receipt of the document before effecting  any
transaction  in  a  penny stock for the investor's  account.
Potential investors in the Company's common stock are  urged
to   obtain  and  read  such  disclosure  carefully   before
purchasing any shares that are deemed to be "penny stock."

Rule  15g-9  of  the  Commission requires broker-dealers  in
penny  stocks  to  approve the account of any  investor  for
transactions in such stocks before selling any  penny  stock
to  that investor. This procedure requires the broker-dealer
to  (i) obtain from the investor information concerning  his
or   her  financial  situation,  investment  experience  and
investment objectives; (ii) reasonably determine,  based  on
that  information,  that transactions in  penny  stocks  are
suitable  for  the  investor  and  that  the  investor   has
sufficient  knowledge and experience  as  to  be  reasonably
capable of evaluating the risks of penny stock transactions;
(iii)  provide the investor with a written statement setting
forth  the  basis  on  which  the  broker-dealer  made   the
determination in (ii) above; and (iv) receive a  signed  and
dated  copy  of such statement from the investor, confirming
that   it   accurately  reflects  the  investor's  financial
situation,  investment experience and investment objectives.
Compliance  with  these  requirements  may  make   it   more
difficult  for  the Company's stockholders to  resell  their
shares to third parties or to otherwise dispose of them.


<PAGE> 9


ITEM 3. CONTROLS AND PROCEDURES

a.   Evaluation of Disclosure Controls and Procedures:

Disclosure  controls and procedures are designed  to  ensure
that  information required to be disclosed  in  the  reports
filed  or  submitted  under the Exchange  Act  is  recorded,
processed,  summarized and reported, within the time  period
specified in the SEC's rules and forms. Disclosure  controls
and  procedures  include, without limitation,  controls  and
procedures  designed to ensure that information required  to
be  disclosed in the reports filed under the Exchange Act is
accumulated  and communicated to management,  including  the
Chief  Executive  Officer and Chief  Financial  Officer,  as
appropriate,  to  allow timely decisions regarding  required
disclosure.  As  of the end of the period  covered  by  this
report,  the President, who is also the Chief Executive  and
Principal  Financial Officer, carried out an  evaluation  of
the  effectiveness  of  the  design  and  operation  of  the
Company's disclosure controls and procedures. Based upon and
as  of  the date of that evaluation, the President concluded
that  the  Company's disclosure controls and procedures  are
effective  to  ensure  that  information  required   to   be
disclosed in the reports the Company files and submits under
the  Exchange  Act  is recorded, processed,  summarized  and
reported as and when required.

b.   Changes in Internal Control over Financial Reporting:

There were no changes in the Company's internal control over
financial  reporting  identified  in  connection  with   the
Company's evaluation of these controls as of the end of  the
period  covered by this report that could have significantly
affected  those  controls subsequent  to  the  date  of  the
evaluation referred to in the previous paragraph,  including
any   correction   action   with   regard   to   significant
deficiencies and material weakness.


<PAGE> 10

                 PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 2. Changes in Securities

During  the  quarter ended December 31,  2003,  the  Company
issued 20,000 shares of common stock at $0.60 per share,  or
$12,000  for consideration of services rendered. The  shares
were  issued  at  the  fair market  value  on  the  date  of
issuance.  The Company relied on exemption from registration
under   Section   4  (2)  under  the  Securities   Act.   No
underwriting  or other commissions were paid  in  connection
with the issuance of these shares.

Item 3. Defaults Upon Senior Securities

None

Item 4. Submission of Matters to a Vote of Security Holders

On  October  13,  2003, pursuant to written consent  of  two
thirds   (3,737,500  shares)  of  all  of  the  issued   and
outstanding  shares of the Corporation's common  stock,  the
Company effectuated a 10:1 reverse stock split of all of the
issued  and  outstanding shares of the Corporation's  common
stock.

Item 5. Other Information

None

Item 6. Exhibits and Reports on Form 8-K


<PAGE> 11

(1) Exhibits


EXHIBIT PAGE
NO.NO.DESCRIPTION

3.1(a)Articles of Incorporation
3.2(a)Certificates of Amendment to Certificate of
      Incorporation of Registrant
3.3(a)Certificates of Amendment to Certificate of
      Incorporation of Registrant
3.4(a)Articles of Incorporation of Registrant
3.5(a)Articles of Merger of Registrant
3.6(a)Certificate of Amendment to Certificate of
      Incorporation of Registrant
3.7(a)Bylaws of Registrant
3.8(a) Amended Bylaws of Registrant
10.1(a)License Agreement between Registrant and Wilhelm
      Liesner
10.2(a)License Agreement between Wilhelm Liesner and Oxywell
      GmbH
10.3(b)Agreement of Amendment between Wilhelm Liesner and
      Oxywell GmbH

-----------------------------------------------------------
  (a)  Incorporated by reference from the 10-SB filed with the
     Securities Exchange Commission on February 20, 2002
(b)  Incorporated by reference from the 10-SB/A filed with
the Securities Exchange Commission on July 9, 2002

(2) Reports on Form 8-K - None

<PAGE> 12

                         SIGNATURES

In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf  by
the undersigned, hereunto duly authorized, this 13th day  of
February 2004.


                  TECHNOLOGY ACQUISITION CORPORATION



                  _______________________________________
                  Wilhelm Liesner, President and Director
<PAGE>

Exhibit 31 CERTIFICATION OF PRINCIPAL EXECUTIVE AND FINACIAL
OFFICER
  Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Wilhelm Liesner, certify that:

(1)I have reviewed this quarterly report on Form 10-QSB of
Technology Acquisition Corporation (the "registrant");

(2) Based on my knowledge, this report does not contain any
untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in
light of the circumstances under which such statements were
made, not misleading with respect to the period covered by
this report;

(3)Based on my knowledge, the financial statements, and
other financial information included in this report, fairly
present in all material respects the financial condition,
results of operations and cash flows of the registrant as
of, and for, the periods presented in this report;

(4)I am responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange
Act Rules 13a-15(e) and 15d-15(e)) and internal control over
financial reporting (as defined in Exchange Act Rules 13a-
15(f) and 15d-15(f)) for the small business issuer and have:


(a)Designed such disclosure controls and procedures, or
caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material
information relating to the registrant, is made known to us
by others within those entities, particularly during the
period in which this report is being prepared;
(bDesigned such internal control over financial reporting,
or caused such internal control over financial reporting to
be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting
and the preparation of financial statements for external
purposes in accordance with generally accepted accounting
principles;
(c)Evaluated the effectiveness of the small business
issuer's disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the
period covered by this report based on such evaluation; and
(d)Disclosed in this report any change in the small business
issuer's internal control over financial reporting that
occurred during the small business issuer's most recent
fiscal quarter (the small business issuer's fourth fiscal
quarter in the case of an annual report) that has materially
affected, or is reasonably likely to materially affect, the
small business issuer's internal control over financial
reporting; and


(5)I have disclosed, based on my most recent evaluation of
internal control over financial reporting, to the small
business issuer's auditors and the audit committee of the
small business issuer's board of directors (or persons
performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in
the design or operation of internal control over financial
reporting which are reasonably likely to adversely affect
the registrant's ability to record, process, summarize and
report financial information; and

(b)Any fraud, whether or not material, that involves
management or other employees who have a significant role in
the registrant's internal control over financial reporting.


Date: February 13, 2004      By: /s/ Wilhelm Liesner
                            Wilhelm Liesner, President and
                            Chief Executive and Principal
                            Financial Officer

<PAGE> 13

Exhibit 32
 Certification by the Chief Executive and Financial Officer
                 pursuant to 18 U.S.C. 1350
as adopted pursuant to Section 906 of the Sarbanes-Oxley Act
                           of 2002

The undersigned hereby certifies that, to his knowledge, (i)
the  Form 10-QSB filed by Technology Acquisition Corporation
(the  "Issuer")  for the quarter ended September  30,  2003,
fully  complies  with the requirements of Section  13(a)  or
15(d)  of the Securities Exchange Act of 1934, and (ii)  the
information contained in that report fairly presents, in all
material  respects, the financial condition and  results  of
operations  of the Issuer on the dates and for  the  periods
presented therein.

TECHNOLOGY ACQUISITION CORPORATION

Date: February 13, 2000By: /s/ Wilhelm Liesner
Wilhelm Liesner, President, Chief Executive and
Principal Financial Officer