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 September 30, 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 September
30, 2003 was 490,862.
                                1
<PAGE>
                        TABLE OF CONTENTS

INDEX

PART I    FINANCIAL INFORMATION

Item 1.  Financial Statements

Interim Balance Sheet                                       3

Interim Statements of Operations                            4

Interim Statements of Cash Flows                            5

Notes to Interim Financial Statements                       7

Item 2. Management's Discussion and Analysis or Plan of
Operations                                                  11

Item 3.  Control and Procedures                             16

PART II   OTHER INFORMATION                                 17

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


                                2
<PAGE>
                 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
                       September 30, 2003
<CAPTION>

<S>                                                 <C>
ASSETS
Current Assets
 Cash                                             $ 216
Total Current Assets

Fixed assets, net                                 1,203

Total Assets                                    $ 1,419

LIABILITIES AND STOCKHOLDERS' DEFICIENCY
Current Liabilities
 Accounts payable and accrued                  $ 30,900
liabilities
 Accrued consulting fees and expenses -         133,126
related party
 Loans from shareholders                          6,500
Total Current Liabilities                       170,526

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                    4,909
Outstanding, 490,862
Additional paid-in capital                    4,353,290
Deficit accumulated during the                4,527,306
development stage
Total stockholders' deficiency                (169,107)

Total Liabilities and Stockholders'             $ 1,419
Deficiency
</TABLE>

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

               TECHNOLOGY ACQUISITION CORPORATION
                  (A Development Stage Company)
           Interim Unaudited Statements of Operations
 For the Three and 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>      <C>       <C>

                              Three      Three     Six       Six
                             Months     Months    Months   Months   Cumulative
                              Ended      Ended    Ended     Ended      From
                            September  September Septembe Septembe   Inception
                            30, 2003   30, 2002     r       r 30,
                                                 30,2003    2002

Revenues
 Product sales                      $ -     $ -      $ -       $ -       $ 21,935
 Management fees - related            -          -        -         -      34,524
party
Total revenues                        -          -        -         -      56,459

Operating Expenses
 General and administrative      70,523      3,082   84,417    23,970     962,571
expenses

Operating Loss                 (70,523)    (3,082) (84,417)  (23,970)   (906,112)

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 Discontinued   (70,523)    (3,082) (84,417)  (23,970) (2,840,038)
Operations

Provision for Income Taxes            -          -        -         -           -

Discontinued Operations
 Operating loss                       -                             - (2,400,617)
 Gain on disposal of                  -          -        -         -     713,349
discontinued operations
Loss from Discontinued                -          -        -         - (1,687,268)
Operations

Net Loss Available to Common          $          $        $         $           $
Stockholders                 (70,523)    (3,082) (84,417)  (23,970) (4,527,306)

Basic and diluted loss per
share of common stock:
 Net loss before               $ (0.14)  $ (0.005) $ (0.17)  $ (0.04)   $ (11.07)
discontinued operations
 Discontinued operations              -          -        -         -      (6.57)
 Net loss per common share     $ (0.14)  $ (0.005) $ (0.17)  $ (0.04)   $ (17.64)

Weighted average number of
common                        490,862    577,112  489,714   577,112     256,601
shares outstanding
</TABLE>

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

                                         Six       Six
                                       Months    Months  Cumulative
                                        Ended     Ended     From
                                      Septembe  Septembe Inception
                                        r 30,     r 30,
                                        2003      2002

Cash flows from operating activities
Net loss                                        $        $          $
                                       (84,417) (23,970) (4,527,306
                                                                  )
Adjustments to reconcile net loss to net
cash used in operating activities
 Depreciation                                 147        -        270
 Common stock issued for services               -        -    257,500
 Common stock issued for licensing              -        -     10,000
agreement
 Transfer of asset for past services            -        -     14,595
rendered
 Notes payable incurred for services            -        -    220,000
rendered
 Realized losses on marketable                  -        -  1,574,100
securities
 Write off stock subscription receivable   50,000        -     50,000
Changes in Assets and Liabilities
 Increase (decrease) in accounts payable    5,521  (2,673)     30,900
and accrued liabilities
 Increase (decrease) in accrued expenses
and consulting fees (related party)      21,300        -    133,126
Net noncash activities related to               -        -    831,654
discontinued operations
Total adjustments                          76,968  (2,673)  3,122,145
Net cash used in operating activities     (7,449) (26,643) (1,405,161
                                                                  )

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

Cash flows from financing activities
 Checks issued in excess of cash                                    -
 Proceeds from the sale of common stock         -     (94)    202,226
 Loans from shareholders                    6,500   27,000     94,805
 Repayments to shareholders                     -        -   (27,000)
 Capital contributions                          -        -     82,412
 Proceeds on notes payable                      -        -  1,054,408
Net cash provided by financing              6,500   26,906  1,406,851
activities

Increase (decrease) in cash and cash        (949)      263        216
equivalents

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

Cash and cash equivalents, end of period    $ 216    $ 263      $ 216


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

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

                                     Six    Six Months
                                    Months     Ended     Cumulative
                                    Ended    September      From
                                  September   30,2002     Inception
                                   30, 2003
Supplemental noncash investing and
financing activities:
 Common stock issued for services       -          -           $ 257,500
rendered
 Common stock issued for licensing      -          -            $ 10,000
agreement
 Gain on exchange of net assets for
common stock of Healthbridge,         -          -           $ 713,349
Inc.
 Transfer of 330,000 shares of
Healthbridge, Inc. to majority
stockholder in full satisfaction      -          -            $ 14,595
of shareholder loans and for past
services rendered
 Realized losses on marketable                               $ 1,574,100
securities
 Notes payable incurred for             -          -           $ 220,000
services rendered
 Conversion of debt to equity           -          -         $ 1,143,002
 Common stock exchanged for             -          -         $ 2,520,009
subsidiary
 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.
                                6
<PAGE>

               TECHNOLOGY ACQUISITION CORPORATION
                  (A Development Stage Company)
              NOTES TO INTERIM FINANCIAL STATEMENTS
                       September 30, 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 September 30, 2003, and the results
of  operations and cash flows for the three and six months  ended
September  30, 2003 and 2002. These results have been  determined
on  the  basis  of 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  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' equity.


NOTE 2. GOING CONCERN, FINANCIAL RESULTS AND LIQUIDITY

The Company has been a development stage company and has incurred
net  operating  losses  since  inception  (June  21,  1972).  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. Management
is  devoting substantially all of its present efforts in securing
and  establishing a new business and has generated  insignificant
revenues.  Management  plans  to conduct  limited  operations  to
minimize operating expenses until external funds can be raised or
internal cash flows are generated.

On  June  6,  2003, the shareholders of Oxywell  GmbH  filed  for
liquidation  of  the  Company due to the  inability  to  generate
enough cash for operations. This also ended the tenure of Wilhelm
Liesner  and  the  Company's ongoing efforts  to  initialize  its
business   operations  with  Oxywell.  Due  to  the  developments
occurring  with Oxywell GmbH, the Company will now have  to  deal
with  customary  minimal costs involved  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
advanced  the  Company  $27,000 and raised  $15,000  through  the
issuance of common stock at $1.00 per share pursuant to a  REG  S
stock  purchase agreement during the fiscal year ended March  31,
2003, and advanced the Company $6,500 during the six months ended
September 30, 2003.

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.
                                7
<PAGE>
Management believes that it will continue to incur losses for  at
least  the next twelve months, and will require additional  funds
through  loans  from  shareholders, debt or equity  financing  to
insure  that  there is sufficient capitalization of  the  Company
during 2004. The satisfaction of cash requirements hereafter will
depend  in  large  part on the Company's ability to  successfully
raise  capital  from  external sources to  fund  growth  for  the
foreseeable  future.  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.

Management  believes  that  despite  the  financial  hurdles  and
funding  uncertainties going forward, is has under development  a
business  plan  that, if successfully funded  and  executed,  can
enhance operating results.
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.

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.

                                8
<PAGE>
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>
<CAPTION>
<S>                <C>       <C>     <C>     <C>      <C>

                                                              Cumulative
                 3 m/e      3 m/e      6 m/e      6 m/e        From
                9/30/03    9/30/02    9/30/03    9/30/02    Inception
Numerator-net
loss available          $         $          $           $            $
to common        (70,523)   (3,082)   (84,417)    (23,970)  (4,527,306)
stockholders

Denominator-weig
hted average      490,862   577,112    489,714     577,112      256,601
number of
common shares
outstanding

Basic and          $ (0.14)         $   $ (0.17)    $ (0.04)    $ (17.64)
diluted loss                (0.005)
per common
share
</TABLE>

                                9
<PAGE>
NOTE 4. RELATED PARTY TRANSACTIONS

Accrued  consulting fees - related party - As  of  September  30,
2003,  the Company owes its President $49,476 for management  and
consulting  services provided to the Company, such as maintaining
the   books   and  records,  overseeing  and  meeting  compliance
requirements,  and  other  general and administrative  duties  as
deemed  necessary. The Company accrues $3,000 per month  for  the
President's services. There is no contract.

Accrued  expenses  -  related party - As of September  30,  2003,
accrued expenses-related party totaled $83,650 as follows:

  (1)   $75,000  - due and payable for services rendered  by  two
     companies that are wholly-owned by the President of this Company.
     The payables incurred represent consulting services rendered
     related to the Company's development, production, and marketing
     of its prior self-contained infectious waste disposal system
     (Redloc II Disposal System.) The services were performed during
     the period October 1, 1996 to December 31, 1997. There was no
     contract.
  (2)  $8,650 - the Company owes two companies wholly-owned by the
     President of this Company 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.

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 September  30,
2003,  the  balance  outstanding  is  $6,500.  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.

NOTE 5. REVERSE SPLIT AND SUBSEQUENT EVENT

On October 13, 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.
                               10
<PAGE>
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  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.  We  do not plan to limit our options to any  particular
industry,  but  will  evaluate each opportunity  on  its  merits.
Although we have not entered into any binding agreement to effect
such  a  transaction, our board of directors 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 our board of directors does determine that a
sale  or  merger  of the Company is in the best interest  of  the
Company's  stockholders, our 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.

The Company has been a development stage company and has incurred
net  operating  losses  since  inception  (June  21,  1972).  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. Management
is  devoting substantially all of its present efforts in securing
and  establishing a new business and has generated  insignificant
revenues.  Management  plans  to conduct  limited  operations  to
minimize operating expenses until external funds can be raised or
internal cash flows are generated.

On  June  6,  2003, the shareholders of Oxywell  GmbH  filed  for
liquidation  of  the  Company due to the  inability  to  generate
enough cash for operations. This also ended the tenure of Wilhelm
Liesner  and  the  Company's ongoing efforts  to  initialize  its
business operations with Oxywell water-oxygenating system. Due to
the  developments occurring with Oxywell GmbH, the  Company  will
now  have  to deal with customary minimal costs involved  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  advanced  the  Company $27,000  and  raised  $15,000
through  the issuance of common stock at $1.00 per share pursuant
to  a REG S stock purchase agreement during the fiscal year ended
March  31, 2003, and advanced the Company $6,500 during  the  six
months ended September 30, 2003.

To  date,  we have not been profitable and we face 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. Our
recurring  losses raise substantial doubt about  our  ability  to
continue  as  a  going concern. Our financial statements  do  not
reflect  any  adjustments that might result from the  outcome  of
this uncertainty. We believe that despite the financial hurdles
                               11
<PAGE>
and   funding   uncertainties  going  forward,  we   have   under
development  a  business  plan that, if successfully  funded  and
executed, can enhance our operating results.

Management believes that it will continue to incur losses for  at
least  the next twelve months, and will require additional  funds
through  loans  from  shareholders, debt or equity  financing  to
insure  that  there is sufficient capitalization of  the  Company
during  2004.  We  do  not  expect  to  purchase  any  plant   or
significant equipment nor do we expect significant changes in the
number of employees.

The  satisfaction of our cash requirements hereafter will  depend
in  large part on our ability to successfully raise capital  from
external  sources to fund our growth for the foreseeable  future.
We expect 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.  Our  ability  to
achieve these objectives cannot be determined at this time.


Related party transactions

Accrued  consulting fees - related party - As  of  September  30,
2003,  the Company owes its President $49,476 for management  and
consulting  services provided to the Company, such as maintaining
the   books   and  records,  overseeing  and  meeting  compliance
requirements,  and  other  general and administrative  duties  as
deemed  necessary. The Company accrues $3,000 per month  for  the
President's services. There is no contract.

Accrued  expenses  -  related party - As of September  30,  2003,
accrued expenses-related party totaled $83,650 as follows:

  (3)   $75,000  - due and payable for services rendered  by  two
     companies that are wholly-owned by the President of this Company.
     The payables incurred represent consulting services rendered
     related to the Company's development, production, and marketing
     of its prior self-contained infectious waste disposal system
     (Redloc II Disposal System.) The services were performed during
     the period October 1, 1996 to December 31, 1997. There was no
     contract.
  (4)  $8,650 - the Company owes two companies, wholly-owned by the
     President of this Company, 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.

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 September  30,
2003,  the  balance  outstanding  is  $6,500.  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.

                               12
<PAGE>
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.

                               13
<PAGE>
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
                               14
<PAGE>
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.

                               15
<PAGE>
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.


                               16
<PAGE>

                   PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 2. Changes in Securities

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

(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
                               17
<PAGE>

                           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 12 day of  November,
2003.


                               TECHNOLOGY ACQUISITION CORPORATION



                                    _____________________________
                                                 Willy H. Liesner
                                           President and Director
                               18
<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;
       (b)    Designed  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: November 12, 2003   By   /s/ Wilhelm Liesner
                               Wilhelm Liesner, President and
                               Chief Executive and Principal
                               Financial Officer

                               19
<PAGE>
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: November 12, 2003       By:  /s Wilhelm Liesner
                              Wilhelm Liesner, President, Chief
                              Executive and Principal Financial
                              Officer

                               20