United States
                       Securities and Exchange Commission
                             Washington, D.C.  20549

                                   FORM 10-QSB

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

          For  the  quarterly  period  ended  June  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:     0-49638
                                   -------


                    INTERNATIONAL COMMERCIAL TELEVISION INC.
                    ----------------------------------------
        (Exact name of small business issuer as specified in its charter)

                  Nevada                               76-0621102
       -----------------------------         --------------------------------
       State or other jurisdiction of        (IRS Employer Identification No.)
       incorporation or organization


              10245 Sunrise Place NE, Bainbridge Island, WA  98110
              ----------------------------------------------------
                    (Address of principal executive offices)


                                 (206) 842-3729
                                 --------------
                           (Issuer's telephone number)

          110 SE Fourth Avenue, Suite 102, Delray Beach, Florida  33483
          -------------------------------------------------------------
         (Former name or former address, if changed since last report.)

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  issuer  was  required to file such reports), and (2) has been
subject to  such  filing  requirements  for  the  past  90  days. Yes [X] No [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: As of August 11, 2003, the Issuer had
10,633,188  shares  of  common  stock,  par  value  $0.001 per share, issued and
outstanding.

Transitional  Small  Business  Disclosure  Format  (Check  one): Yes [ ] No [X]


<PAGE>
<TABLE>
<CAPTION>
                                TABLE OF CONTENTS


PART  I  -  FINANCIAL  INFORMATION
----------------------------------
<S>                                                                            <C>
ITEM 1.  FINANCIAL  STATEMENTS                                                     1

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
         RESULTS OF  OPERATIONS                                                   23

ITEM 3.  CONTROLS  AND  PROCEDURES                                                27


PART  II  -  OTHER  INFORMATION
--------------------------------

ITEM 6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K                                    28

SIGNATURES
</TABLE>


<PAGE>
<TABLE>
<CAPTION>
                         PART I - FINANCIAL INFORMATION
                         ------------------------------


ITEM 1.  FINANCIAL  STATEMENTS
<S>      <C>                                                                   <C>
         Review  Report  of  Independent  Certified  Public  Accountants           2

         Consolidated Balance Sheets as of June 30, 2003 (unaudited) and
           December  31,  2002                                                     3

         Consolidated Statements of Operations for the three months ended June
           30, 2003 and 2002 (unaudited) and for the six months ended June 30,
           2003  and  2002  (unaudited)                                            4

         Consolidated Statements of Shareholders' Deficit for the six months
           ended June 30, 2003 (unaudited) and year ended December 31, 2002        5

         Consolidated Statements of Cash Flows for the six months ended June
           30, 2003 and 2002 (unaudited)                                           6

         Notes to the Consolidated Financial Statements                         7-22
</TABLE>

                                     Page 1
<PAGE>
REPORT  OF  INDEPENDENT  CERTIFIED  PUBLIC  ACCOUNTANTS

The  Board  of  Directors
International  Commercial  Television  Inc.  and  Subsidiaries
Bainbridge Island, Washington


We  have  reviewed  the accompanying consolidated balance sheet of International
Commercial Television Inc. and Subsidiaries (the "Company") as of June 30, 2003,
and  the  related  consolidated  statements  of operations for the three and six
months  ended June 30, 2003 and 2002, and the related consolidated statements of
shareholders'  deficit and cash flows for the six months ended June 30, 2003 and
2002.  All  information  included  in  these  financial  statements  is  the
representation of the management of International Commercial Television Inc. and
Subsidiaries.

We conducted our review in accordance with standards established by the American
Institute  of  Certified  Public  Accountants.  A  review  of  interim financial
information  consists  principally  of applying analytical procedures and making
inquiries  of  persons  responsible for financial and accounting matters.  It is
substantially  less in scope than an audit in accordance with auditing standards
generally  accepted  in  the United States of America, the objective of which is
the  expression  of  an  opinion  regarding  the financial statements taken as a
whole.  Accordingly,  we  do  not  express  such  an  opinion.

Based  on our review, we are not aware of any material modifications that should
be  made to the accompanying consolidated financial statements referred to above
for  them  to  be in conformity with accounting principles generally accepted in
the  United  States  of  America.

Note  14  of  the Company's audited financial statements as of December 31, 2002
and  for  the  year  then ended discloses that the Company experienced recurring
losses  from operations, had negative working capital, and negative equity as of
December  31, 2002.  Our auditors' report on those financial statements includes
an  explanatory paragraph referring to the matters in Note 14 of those financial
statements  and indicating that these matters raised substantial doubt about the
Company's  ability  to  continue as a going concern.  As indicated in Note 12 of
the Company's unaudited interim consolidated financial statements as of June 30,
2003, and for the six months then ended, the Company has continued to experience
recurring  losses  from  operations,  has negative working capital, and negative
equity  as  of  June  30, 2003.  The accompanying interim consolidated financial
statements  do  not include any adjustment that might result from the outcome of
this  uncertainty.

We  have  previously  audited,  in  accordance with auditing standards generally
accepted  in  the  United  States  of America, the consolidated balance sheet of
International  Commercial  Television  Inc.  and Subsidiaries as of December 31,
2002,  and  the  related  consolidated  statements  of operations, shareholders'
equity and cash flows for the year then ended (not presented herein); and in our
report  dated  March  25,  2003,  we included an explanatory paragraph regarding
substantial  doubt about the Company's ability to continue as a going concern on
those  consolidated  financial  statements.  In our opinion, the information set
forth in the accompanying consolidated balance sheet as of December 31, 2002, is
fairly stated, in all material respects, in relation to the consolidated balance
sheet  from  which  it  has  been  derived.



August  12,  2003
City  of  Industry,  California


                                     Page 2
<PAGE>
<TABLE>
<CAPTION>
            INTERNATIONAL COMMERCIAL TELEVISION INC. AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEETS
                    AS OF JUNE 30, 2003 AND DECEMBER 31, 2002

                  (See Independent Accountants' Review Report)
                   ------------------------------------------

                                                     June 30,    December 31,
                                                   ------------  ------------
                                                       2003          2002
                                                   ------------  ------------
                                                   (unaudited)
                                                   ------------
<S>                                                <C>           <C>
                                     ASSETS
                                     ------

CURRENT ASSETS:
  Cash                                             $         -   $    21,008
  Accounts receivable                                   44,492        21,750
  Inventory, net                                            50            50
  Prepaid expenses and deposits                         18,542        52,110
                                                   ------------  ------------
    Total current assets                                63,084        94,918
                                                   ------------  ------------

PROPERTY AND EQUIPMENT:
  Furniture and equipment                              110,869       116,279
  Less accumulated depreciation                         34,776        21,239
                                                   ------------  ------------
    Property and equipment, net                         76,093        95,040
                                                   ------------  ------------

      Total assets                                 $   139,177   $   189,958
                                                   ============  ============


                      LIABILITIES AND SHAREHOLDERS' DEFICIT
                      -------------------------------------

CURRENT LIABILITIES:
  Bank overdraft                                   $     1,730   $         -
  Accounts payable and accrued liabilities             241,277       198,335
  Due to related parties                               325,545       359,830
                                                   ------------  ------------
    Total current liabilities                          568,552       558,165
                                                   ------------  ------------

NOTE PAYABLE AND ACCRUED INTEREST TO
  SHAREHOLDER:                                         590,723       729,588
                                                   ------------  ------------

SHAREHOLDERS' DEFICIT:
  Common stock                                             514           490
  Common stock committed                                     -        37,500
  Additional paid-in-capital                           283,107       325,131
  Accumulated deficit                               (1,219,719)   (1,266,916)
  Unearned compensation                                (84,000)     (194,000)
                                                   ------------  ------------
    Total shareholders' deficit                     (1,020,098)   (1,097,795)
                                                   ------------  ------------

      Total liabilities and shareholders' deficit  $   139,177   $   189,958
                                                   ============  ============
</TABLE>


The  accompanying  notes  are an integral part of these consolidated statements.


                                     Page 3
<PAGE>
<TABLE>
<CAPTION>
                            INTERNATIONAL COMMERCIAL TELEVISION INC. AND SUBSIDIARIES

                                      CONSOLIDATED STATEMENTS OF OPERATIONS
                            FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2003 AND 2002

                                  (See Independent Accountants' Review Report)
                                   ------------------------------------------


                                                 For the three months ended          For the six months ended
                                              --------------------------------  --------------------------------
                                               June 30, 2003    June 30, 2002    June 30, 2003    June 30, 2002
                                              ---------------  ---------------  ---------------  ---------------
                                                (unaudited)      (unaudited)      (unaudited)      (unaudited)
                                              ---------------  ---------------  ---------------  ---------------
<S>                                           <C>              <C>              <C>              <C>


NET SALES                                     $      421,002   $       739,150  $      938,691   $    1,107,220
COST OF SALES                                        254,062           315,417         432,152          511,890
                                              ---------------  ---------------  ---------------  ---------------
GROSS PROFIT                                         166,940           423,733         506,539          595,330
                                              ---------------  ---------------  ---------------  ---------------

OPERATING EXPENSES:
  Depreciation                                         7,183               930          14,980            1,831
  General and administrative                         181,193           197,545         357,376          351,552
  Selling and marketing                               34,592            57,449          82,421           86,169
  Royalties                                           22,577            78,493         103,106          114,087
  Rent                                                13,163            17,866          29,905           20,683
                                              ---------------  ---------------  ---------------  ---------------
    Total operating expenses                         258,708           352,283         587,788          574,322
                                              ---------------  ---------------  ---------------  ---------------

OPERATING INCOME (LOSS)                              (91,768)           71,450         (81,249)          21,008

OTHER EXPENSES:
  Interest expense                                         -            10,095          10,419           20,188
  Interest expense, shareholder                            -             6,062           9,618           17,510
                                              ---------------  ---------------  ---------------  ---------------
    Total other expenses                                   -            16,157          20,037           37,698
                                              ---------------  ---------------  ---------------  ---------------

OTHER INCOME:
  Income from forgiveness of accrued
  interest on related party note payable             148,483                 -         148,483                -


INCOME (LOSS) BEFORE INCOME TAXES                     56,715            55,293          47,197          (16,690)

INCOME TAXES                                               -                 -               -                -
                                              ---------------  ---------------  ---------------  ---------------

NET INCOME (LOSS)                             $       56,715   $        55,293  $       47,197   $      (16,690)
                                              ===============  ===============  ===============  ===============


BASIC INCOME (LOSS) PER SHARE                 $         0.01   $          0.01  $         0.00   $        (0.00)
                                              ===============  ===============  ===============  ===============

FULLY DILUTED INCOME (LOSS) PER SHARE         $         0.01   $          0.01  $         0.00   $        (0.00)
                                              ===============  ===============  ===============  ===============
</TABLE>


The  accompanying  notes  are an integral part of these consolidated statements.


                                     Page 4
<PAGE>
<TABLE>
<CAPTION>
                                     INTERNATIONAL COMMERCIAL TELEVISION INC. AND SUBSIDIARIES

                                         CONSOLIDATED STATEMENTS OF SHAREHOLDERS' DEFICIT

                                           (See Independent Accountants' Review Report)
                                            ------------------------------------------


                                             Common Stock         Common    Additional
                                        ---------------------  -----------  ----------
                                           $0.001 par value       Stock      Paid-In     Accumulated     Unearned
                                        ---------------------  -----------  ----------  ------------  --------------
                                          Shares      Amount    Committed    Capital      Deficit      Compensation      Totals
                                        -----------  --------  -----------  ----------  ------------  --------------  ------------
<S>                                     <C>          <C>       <C>          <C>         <C>           <C>             <C>
Balances, January 1, 2002               10,249,500   $   150   $        -   $ (11,873)  $  (707,860)  $    (280,000)  $  (999,583)

Issuance of common stock                   234,688       235            -     351,805             -               -       352,040

Deferred issuance costs applied                  -         -            -    (124,996)            -               -      (124,996)

Amortization of deferred
  compensation under
  nonqualified stock option
  plan                                           -         -            -           -             -          28,000        28,000


Net loss                                         -         -            -           -       (16,690)              -       (16,690)
                                        ------------------------------------------------------------------------------------------

Balances, June 30, 2002 (unaudited)     10,484,188       385            -     214,936      (724,550)       (252,000)     (761,229)

Issuance of common stock                   105,000       105            -     157,395             -               -       157,500

Stock options cancelled                          -         -            -     (47,200)            -          47,200             -

Common stock committed for services              -         -       37,500           -             -               -        37,500

Amortization of deferred
  compensation under
  nonqualified stock option
  plan                                           -         -            -           -             -          10,800        10,800

Net loss                                         -         -            -           -      (542,366)              -      (542,366)
                                        ------------------------------------------------------------------------------------------

Balances, December 31, 2002             10,589,188       490       37,500     325,131    (1,266,916)       (194,000)   (1,097,795)

Issuance of common stock                    29,000        29      (37,500)     39,471             -               -         2,000

Common stock returned to
  treasury and cancelled                    (5,000)       (5)           -      (7,495)            -               -        (7,500)

Stock options cancelled                          -         -            -     (74,000)            -          74,000             -

Amortization of deferred
  compensation under
  nonqualified stock option
  plan                                           -         -            -           -             -          36,000        36,000

Net income                                       -         -            -           -        47,197               -        47,197
                                        ------------------------------------------------------------------------------------------

Balances, June 30, 2003
  (unaudited)                           10,613,188   $   514   $        -   $ 283,107   $(1,219,719)  $     (84,000)  $(1,020,098)
                                        ==========================================================================================
</TABLE>


The accompanying notes are an integral part of these consolidated statements.


                                     Page 5
<PAGE>
<TABLE>
<CAPTION>
                  INTERNATIONAL COMMERCIAL TELEVISION INC. AND SUBSIDIARIES

                            CONSOLIDATED STATEMENTS OF CASH FLOWS
                       FOR THE SIX MONTHS ENDED JUNE 30, 2003 AND 2002

                        (See Independent Accountants' Review Report)
                         ------------------------------------------


                                                                     June 30,     June 30,
                                                                  ------------  ------------
                                                                      2003          2002
                                                                  ------------  ------------
                                                                  (unaudited)   (unaudited)
                                                                  ------------  ------------
<S>                                                               <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income (loss)                                               $    47,197   $   (16,690)
  Adjustments to reconcile net income (loss) to net cash provided
    by operating activities:
      Depreciation                                                     14,980         1,831
      Gain on disposition of property and equipment                    (1,442)            -
      Income from forgiveness of accrued interest on related
        party note payable                                           (138,865)            -
      Amortization of deferred compensation under nonqualified
        stock option plan                                              36,000        28,000
      Increase in accounts receivable                                 (22,742)       (3,805)
      Decrease in inventory                                                 -           350
      Decrease in prepaid expenses                                     33,568         7,139
      Increase in accounts payable and accrued liabilities             42,941        59,694
      Increase in accrued interest on note payable                          -        20,188
                                                                  ------------  ------------
        Net cash provided by operating activities                      11,637        96,707
                                                                  ------------  ------------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Proceeds from disposition of property and equipment                   2,867             -
  Additions to property and equipment                                  (1,957)         (571)
                                                                  ------------  ------------
        Net cash provided by (used in) investing activities               910          (571)
                                                                  ------------  ------------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Increase (decrease) in bank overdraft                                 1,730        (1,792)
  Advances from related parties                                       111,582        54,286
  Payments to related parties                                        (145,867)     (170,819)
  Common stock cancelled and returned to treasury                      (3,000)            -
  Proceeds from issuance of common stock                                2,000       352,041
                                                                  ------------  ------------
      Net cash (used in) provided by financing activities             (33,555)      233,716
                                                                  ------------  ------------

NET (DECREASE) INCREASE IN CASH                                       (21,008)      329,852

CASH, beginning of the period                                          21,008             -
                                                                  ------------  ------------

CASH, end of period                                               $         -   $   329,852
                                                                  ============  ============

SUPPLEMENTAL DISCLOSURES OF CASH FLOW
INFORMATION:

  Interest expense paid                                           $    10,419   $    11,448
                                                                  ============  ============

  Income taxes paid                                               $         -   $         -
                                                                  ============  ============

SUPPLEMENTAL DISCLOSURE OF NON-CASH FLOW
INFORMATION:
  Forgiveness of accrued interest on related party note payable   $   148,483   $         -
                                                                  ============  ============
  Common stock cancelled and returned to treasury                 $     4,500   $         -
                                                                  ============  ============
</TABLE>


The  accompanying  notes  are an integral part of these consolidated statements.


                                     Page 6
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

Organization
------------

International  Commercial  Television  Inc.,  (the  "Company"  or  "ICTV")  was
organized  under  the  laws  of  the  state  of  Nevada  on  June  25,  1998.

On April 1, 2000, the Company entered into a Share and Option Purchase Agreement
with  the  trustees of The Better Block Trust ("BBT"), which owned or controlled
all  of the equity interest in Windowshoppc.com Limited ("WSL"), R.J.M. Ventures
Limited  ("RJML")  and  Better Blocks International Limited ("BBIL").  Under the
agreement,  the Company purchased all of the equity interest in WSL and RJML, an
option  to  purchase  all of the equity in BBIL and obtained a license to all of
the  assets owned by BBIL.  The purchase price under the agreement was 8,000,000
shares of the Company's common stock and a $590,723 promissory note.  The option
exercise  price is the issuance of an additional 500,000 shares of the Company's
common  stock.  For  accounting purposes, the acquisition has been treated as an
acquisition  of  ICTV by WSL and RJML and as a recapitalization of WSL and RJML.

Strategic  Media  Marketing  Corp.  ("SMM")  was incorporated in the Province of
British  Columbia  on  February  11, 2003 and has a December 31 fiscal year-end.

Windowshoppc.com Limited was organized under the laws of New Zealand on June 25,
1999 and has a fiscal year-end of March 31.  During the period, at the direction
of management, WSL was removed from the New Zealand Registrar of Companies.  All
assets  and  commitments  of  WSL  have been transferred or assigned directly to
ICTV.

R.J.M. Ventures Limited was organized under the laws of New Zealand on April 23,
1998 and has a fiscal year-end of March 31.  During the period, at the direction
of  management,  RJML  was  removed from the New Zealand Registrar of Companies.
All assets and commitments of RJML have been transferred or assigned directly to
ICTV.

Nature  of  operations
----------------------

The  Company  sells  various  consumer  products.  The  products  are  primarily
marketed  and  sold  through infomercials.  The products are sold throughout the
United  States and internationally via the infomercials.  Although the companies
are  incorporated  in  Nevada,  New Zealand and British Columbia, operations are
currently  run  from  Washington  State  and  British  Columbia.

Principles  of  consolidation
-----------------------------

The  accompanying consolidated financial statements include 100% of the accounts
of  the  Company  and  its  wholly-owned  subsidiary  SMM.  All  significant
inter-company  transactions  and  accounts  have  been  eliminated.

Accounting  method
------------------

The  Company's  consolidated financial statements are prepared using the accrual
method  of  accounting.  The  Company  has  elected  a  December  31  year-end.


                                     Page 7
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

New  accounting  pronouncements
-------------------------------


In  April 2002, the FASB issued SFAS Statement No. 145 ("SFAS 145"), "Rescission
of Statements No. 4, 14 and 64, Amendment of FASB Statement No. 13 and Technical
Corrections".  This  statement  rescinds SFAS No. 4, "Reporting Gains and Losses
from  Extinguishment  of Debt," and an amendment of that Statement, SFAS No. 64,
"Extinguishments  of  Debt  Made  to  Satisfy  Sinking-Fund  Requirements." This
statement  also rescinds SFAS No. 44, "Accounting for Intangible Assets of Motor
Carriers".

This  statement  amends  SFAS  No. 13, "Accounting for Leases," to eliminate any
inconsistency  between  the  required accounting for sale-leaseback transactions
and  the  required accounting for certain lease modifications that have economic
effects  that  are similar to sale-leaseback transactions.  SFAS 145 also amends
other  existing  authoritative  pronouncements  to  make  various  technical
corrections,  clarify  meanings,  or  describe their applicability under changed
conditions. This statement is effective for fiscal years beginning after May 15,
2002.  The  adoption  of this statement did not have a significant impact on the
financial  condition  or  results  of  operations  of  the  Company.

In  June  2002, the FASB issued SFAS Statement No. 146 ("SFAS 146"), "Accounting
for  Costs  Associated  with  Exit  or  Disposal Activities".  SFAS 146 requires
companies  to  recognize  costs associated with exit or disposal activities when
they  are  incurred rather than at the date of commitment to an exit or disposal
plan.  Examples of costs covered by the standard include lease termination costs
and  certain  employee severance costs that are associated with a restructuring,
discontinued  operations,  plant  closing,  or  other exit or disposal activity.
Previous  accounting  guidance  was provided by Emerging Issued Task Force Issue
No.  94-3  ("EITF  94-3"),  "Liability  Recognition  for Certain Costs, Employee
Termination  Benefits  and  Other  Costs  to Exit an Activity (including Certain
Costs  Incurred  in a Restructuring)".  SFAS 146 replaces EITF 94-3 and is to be
applied  prospectively  to  exit or disposal activities initiated after December
31,  2002.  The  adoption of this statement did not have a significant impact on
the  financial  condition  or  results  of  operations  of  the  Company.

In November 2002, the FASB issued Interpretation No. 45 ("FIN 45"), "Guarantor's
Accounting  and  Disclosure  Requirements  for  Guarantees,  Including  Indirect
Guarantees  of  Indebtedness  of  Others."  FIN  45  requires the recognition of
certain  guarantees  as  liabilities  at  fair market value and is effective for
guarantees  issued or modified after December 31, 2002.  The Company has adopted
the  disclosure requirement of FIN 45 and does not expect the impact of the fair
market value requirement to have a material impact on its financial condition or
results  of  operations  of  the  Company.

In  December  2002,  the  FASB  issued  SFAS  Statement  No.  148  ("SFAS 148"),
"Accounting for Stock-Based Compensation - Transition and Disclosure".  SFAS 148
allows  for  the  Company's  current  method  of accounting for stock options to
continue.  Effective  for  interim  periods  beginning  after December 15, 2002,
disclosure  will  be required for information on the fair value of stock options
and  the  effect  on  earnings  per share (in tabular form) for both interim and
annual  reports.  The  adoption  of  this  statement  did not have a significant
impact  on  the  financial  condition  or  results of operations of the Company.

The  Company  has  adopted  SAB  No.  101,  "Revenue  Recognition  in  Financial
Statements" ("SAB 101").  SAB 101 establishes accounting and reporting standards
for the recognition of revenue.  It states that revenue generally is realized or
realizable and earned when all of the following criteria are met: (1) persuasive
evidence  of  an  arrangement exists; (2) delivery has occurred or services have
been  rendered;  (3)  the  seller's  price  to  the  buyer  is  fixed  or
determinable;  (4)  collectibility  is  reasonably  assured.  The


                                     Page 8
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

New  accounting  pronouncements  (continued)
--------------------------------------------

adoption  of  this  statement did not have a significant impact on the financial
condition  or  results  of  operations  of  the  Company.

The  Company  adopted  the  provisions  of  FIN  No. 44, "Accounting for Certain
Transactions  Involving Stock Compensation (an interpretation of APB Opinion No.
25)".  FIN  44  clarifies  the  application  of  Opinion No. 25 for only certain
issues.  It  does  not address any issues related to the application of the fair
value  method  in  Statement  No. 123.  Among other issues, FIN 44 clarifies the
definition of employee for purposes of applying Opinion No. 25, the criteria for
determining  whether  a plan qualifies as a noncompensatory plan, the accounting
consequence  of various modifications to the terms of the previously fixed stock
option  or award, and accounting for an exchange of stock compensation awards in
a  business  combination.  The  adoption  of  this  statement  did  not  have  a
significant  impact  on  the financial condition or results of operations of the
Company.

Revenue  recognition
--------------------

Product  sales  revenue  is  recognized  upon  shipment  of  the  product to the
customer.  The  Company  has a return policy whereby the customer can return any
product  received within 30 days of receipt for a full refund excluding shipping
and  handling.  The  Company  provides  an allowance for returns based upon past
experience.  Revenue  related  to  the sale of third party products is generally
recorded at gross amounts with a corresponding charge to cost of sales.  Certain
third  party  products are sold under a commission basis and only the commission
income  is  recorded  for  these  sales.

Concentration  of  credit  risk
-------------------------------

Financial instruments, which potentially subject the Company to concentration of
credit  risk, include cash and trade receivables.  The Company maintains cash in
bank  accounts  that, at times, may exceed federally insured limits.  As of June
30,  2003,  the Company did not exceed the federally insured limit.  The Company
has  not  experienced any losses in such accounts and believes it is not exposed
to  any significant risks on its cash in bank accounts.  As of June 30, 2003 and
December 31, 2002, all of the Company's trade receivables were due from four and
two  customers,  respectively.

Cash  equivalents
-----------------

The  Company  considers  all  unrestricted  highly  liquid  investments  with an
original  maturity  of  three  months  or  less  to  be  cash  equivalents.

Accounts  receivable
--------------------

No  allowance  for  uncollectible  accounts  has  been  provided.  The Company's
management  has  evaluated  the  accounts and believes they are all collectible.

Inventory
---------

Inventory  consists primarily of products held for resale, and are stated at the
lower  of  cost  (first-in,  first-out  method)  or  market.


                                     Page 9
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Property  and  equipment
------------------------

Property and equipment are carried at cost and depreciation is computed over the
estimated  useful  lives  of  the  individual  assets ranging from 3 to 7 years.
Depreciation  is  computed  using  the  straight-line  method.

The  related  cost  and  accumulated depreciation of assets retired or otherwise
disposed  of  are  removed  from  the accounts and the resultant gain or loss is
reflected  in  earnings.  Maintenance  and  repairs are expensed currently while
major  renewals  and  betterments  are  capitalized.

Long-term  assets  of  the  Company  are  reviewed  annually as to whether their
carrying  value has become impaired.  Management considers assets to be impaired
if  the  carrying  value  exceeds  the  future projected cash flows from related
operations.  Management  also  re-evaluates  the  periods  of  amortization  to
determine  whether subsequent events and circumstances warrant revised estimates
of  useful  lives.  As  of  June 30, 2003, management expects these assets to be
fully  recoverable.

Depreciation expense amounted to $7,183 and $930 for the three months ended June
30, 2003 and 2002, respectively, and $14,980 and $1,831 for the six months ended
June  30,  2003  and  2002,  respectively.

Shipping  and  handling
-----------------------
Shipping  and  handling costs are included in cost of sales.  Amounts paid to us
by  customers  for  shipping  and  handling  charges  are included in net sales.

Research  and  development
--------------------------

Research  and  development  costs  are  expensed as incurred and are included in
selling  and  marketing  expense  in  the  accompanying  consolidated  financial
statements.  Research  and  development  costs  primarily  consist of efforts to
discover  and  develop  new  products  and  the  testing  and  development  of
direct-response  advertising  related  to  these  products.

Advertising  costs
------------------

Advertising  costs  are  expensed  as  incurred  and are included in selling and
marketing  expense  in  the  accompanying  consolidated  financial  statements.

Income  taxes
-------------

The  Company uses the asset and liability method of accounting for income taxes,
which  requires  the  recognition of deferred tax liabilities and assets for the
expected  future tax consequences of temporary differences between tax bases and
financial  reporting  bases  of  assets  and  liabilities.

Income  tax  benefits have not been recorded during the current period on United
States losses.  These benefits will be recorded when realized or at such time it
is  determined  that  these  benefits  are  likely  to  be  realized.


                                    Page 10
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Stock  options
--------------

The  Company  adopted a stock option plan ("Plan").  The purpose of this Plan is
to  provide  additional  incentives  to  key  employees, officers, directors and
consultants  of  the  Company  and its subsidiaries in order to help attract and
retain  the  best  available  personnel  for  positions  of  responsibility  and
otherwise promoting the success of the business activities.  It is intended that
options  issued  under  this  Plan  constitute  nonqualified  stock  options.

The  Company  applies  Accounting  Principles Board ("APB") Opinion No. 25 ("APB
25"), "Accounting for Stock Issued to Employees," and related interpretations in
accounting  for  all  stock  option  plans.  Under  APB 25, compensation cost is
recognized  for  stock options granted to employees when the option is less than
the  market  price  of  the  underlying  common  stock  on  the  date  of grant.

SFAS  No.  123  ("SFAS 123"), "Accounting for Stock-Based Compensation" and SFAS
No.  148  (SFAS  148), "Accounting for Stock-Based Compensation - Transition and
Disclosure  -  an amendment of FASB Statement No. 123" require disclosures as if
the Company had applied the fair value method to employee awards rather than the
intrinsic  value  method.  The  fair value of stock-based awards to employees is
calculated  through  the  use  of option pricing models, even though such models
were developed to estimate the fair value of freely tradable, fully transferable
options  without  vesting  restrictions,  which  differ  significantly  from the
Company's  stock  option  awards.  These  models  also  require  subjective
assumptions,  including  future  stock  price  volatility  and  expected time to
exercise,  which greatly affect the calculated values.  The Company's fair value
calculations  for  awards  from  stock  option  plans  were  made  using  the
Black-Scholes  option  pricing  model.

The  following  is  a  summary of stock options granted under the existing stock
option  plan  for the six months ended June 30, 2003 and year ended December 31,
2002:

<TABLE>
<CAPTION>
                                       Number  of  Shares
                                ---------------------------------
                                              Non-                 Exercise
                                              ----                 --------
                                Employee    Employee     Totals    Price
                                ---------  ----------  ----------  ------
<S>                             <C>        <C>         <C>         <C>
Balance, January 1, 2002         350,000   1,125,000   1,475,000
  Granted on December 31, 2002         -     685,000     685,000   $ 1.50
  Cancelled during the year            -     (86,000)    (86,000)  $ 0.50
  Cancelled during the year            -    (435,000)   (435,000)  $ 2.00
                                ---------  ----------  ----------

Balance, December 31, 2002       350,000   1,289,000   1,639,000
  Cancelled during the period    (50,000)    (24,000)    (74,000)  $ 0.50
  Cancelled during the period   (300,000)   (150,000)   (450,000)  $ 2.00
                                ---------  ----------  ----------

Balance, June 30, 2003                  -   1,115,000   1,115,000
                                =========  ==========  ==========
</TABLE>


                                    Page 11
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Stock  options  (continued)
---------------------------

The Company provides proforma disclosures of compensation expense under the fair
value  method  of  SFAS  123  and  SFAS  148.

Following  are  the  weighted  average assumptions used for the six months ended
June  30:

<TABLE>
<CAPTION>
                                   2003      2002
                                 --------  --------
<S>                              <C>       <C>
Risk-free interest rate             4.00%     5.88%
Expected dividend yield                -         -
Expected lives                   5 years   5 years
Expected volatility                 58.3%     50.0%
</TABLE>

Had  compensation  cost for the Company's option plans been determined using the
fair  value  method at the grant dates, the effect on the Company's net loss and
loss  per  share  would have been as follows for the three months and six months
ended  June  30:

<TABLE>
<CAPTION>
                                                 For the three months ended       For the six months ended
                                               -------------------------------  -------------------------------
                                               June 30, 2003    June 30, 2002   June 30, 2003    June 30, 2002
                                               --------------   --------------  --------------  ---------------
<S>                                            <C>              <C>             <C>             <C>
Net income (loss) as reported                  $       56,715  $       55,293   $        47,197  $        (16,690)
Deduct:
  Total stock based employee compensation
  determined under fair value method for all
  awards, net of related tax effects                   87,705               -            87,705                 -
                                               --------------  --------------   ----------------   ---------------

  Pro forma net income (loss)                  $      (30,990)  $       55,293   $      (40,508)   $      (16,690)
                                               ===============  ===============  ===============   ===============

Earnings per share:
  Basic - as reported                          $         0.01   $         0.01   $         0.00   $         (0.00)
                                               ===============  ===============  ===============   ===============
  Basic - pro forma                            $        (0.00)  $         0.01   $        (0.00)  $         (0.00)
                                               ===============  ===============  ===============   ===============

  Diluted - as reported                        $         0.01   $         0.01   $         0.00   $         (0.00)
                                               ===============  ===============  ===============   ===============
  Diluted - pro forma                          $        (0.00)  $        (0.01)  $        (0.00)  $         (0.01)
                                               ===============  ===============  ===============  ================
</TABLE>

Use  of  estimates
------------------

The  preparation  of  financial statements in conformity with generally accepted
accounting  principles  of  the  United States of America requires management to
make  estimates  and  assumptions  that  affect  the  amounts  reported  in  the
consolidated  financial  statements and accompanying notes.  Management believes
that  the  estimates utilized in preparing its consolidated financial statements
are  reasonable  and prudent.  Actual results could differ from these estimates.


NOTE  2  -  BUSINESS  ACQUISITION

On April 1, 2000, the Company entered into a Share and Option Purchase Agreement
with  the  trustees of BBT, which owned or controlled all of the equity interest
in  WSL,  RJML  and BBIL.  Under the agreement, the Company purchased all of the
equity  interest  in  WSL  and  RJML,  an  option  to purchase all of the equity


                                    Page 12
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  2  -  BUSINESS  ACQUISITION  (CONTINUED)

in BBIL and obtained a license to all of the assets owned by BBIL.  The purchase
price under the agreement was 8,000,000 shares of the Company's common stock and
a  $590,723  promissory  note.

The option exercise price is the issuance of an additional 500,000 shares of the
Company's  common  stock.  Upon  the exercise of the option, the assets acquired
will  be  recorded  at  BBIL's  historical  cost.

The  license to all of the assets owned by BBIL consisted primarily of exclusive
worldwide  rights  to  manufacture,  market,  distribute,  further  develop, and
otherwise  fully  exploit  the  proprietary  rights  owned by BBIL.  The license
rights  have an initial term of 10 years, at the end of the first five years and
at  the  end  of  each  subsequent  year,  BBIL may extend the term by one year.

For  accounting  purposes, the acquisition has been treated as an acquisition of
ICTV  by WSL and RJML and as a recapitalization of WSL and RJML.  As of April 1,
2000  (date  of  acquisition),  WSL,  RJML and BBIL were valued at approximately
$15,000,000  in  an  independent  appraisal performed by Houlihan Lokey Howard &
Zukin  Financial Advisors, Inc.  The Company believes the value of the assets it
acquired  was  $13,900,000, because it currently has only license rights related
to  BBIL,  and  not  ownership  of  BBIL.


NOTE  3  -  DEFERRED  CHARGES

Deferred  charges  consist  of  specific  costs  directly  attributable  to  the
Company's  offering.  These  costs have been charged against the Company's gross
proceeds  from  the  initial  offering.


NOTE  4  -  LICENSE  AND  RECONVEYANCE  AGREEMENTS

Effective  April  1,  2000,  the Company entered into a License and Reconveyance
Agreement  with  WSL and RJML.  These agreements are royalty-free.  WSL and RJML
own or have rights in certain intellectual properties that they do not presently
wish  to  exploit, but which it may wish to exploit in the future.  Accordingly,
WSL  and  RJML  granted  all  production  rights, proprietary rights, inventory,
development  rights,  hard  assets,  licenses  and  any  assets or rights to the
Company.  The  Company  has  the  right  to  further  develop  and  enhance  the
intellectual  properties as the Company sees fit.  At the option of WSL or RJML,
they  can  demand  to  reconvey all grants previously given to the Company.  The
license  agreements  are  in  effect until WSL and RJML exercise their rights to
demand  reconveyance.


NOTE  5  -  FINANCIAL  INSTRUMENTS

Statement  of  Financial Accounting Standards No. 107 ("SFAS 107"), "Disclosures
About Fair Value of Financial Instruments" requires disclosure of the fair value
of  financial  instruments held by the Company.  SFAS 107 defines the fair value
of  financial  instruments  as  the  amount  at  which  the  instrument could be
exchanged  in  a  current  transaction  between  willing parties.  The following
methods  and  assumptions  were  used  to  estimate  fair  value:

The  carrying  amount  of accounts receivable and payable approximate fair value
due  to  their  short-term  nature.  The  carrying  amount  of note payable debt
approximates  fair  value  based  on the borrowing rate of prime rate plus 1.0%.


                                    Page 13
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  6  -  COMMITMENTS  AND  CONTINGENCIES

Smart  Stacks
-------------

On  May  18, 1998, RJML entered into a manufacturing, marketing and distribution
agreement  with the inventor of Smart Stacks.  Smart Stacks is a set of rotating
and  stacking  storage trays.  Pursuant to the agreement, the inventor grants to
RJML  the  exclusive  right to manufacture, advertise, promote, market, sell and
distribute  Smart  Stacks  worldwide through all means.  In consideration of the
grants  received,  RJML  shall  pay  a  royalty  based on net sales depending on
various  scenarios  as  defined  in  the  agreement.  The  initial  term  of the
agreement  is five years starting May 18, 1998.  The agreement automatically and
continually  renews  for successive additional five-year terms unless RJML is in
material  default  and  is notified in writing at least thirty days prior to the
end  of  the  then  current  term  that  the  inventor  intends to terminate the
agreement.

On  July  1,  1998,  RJML entered into a production agreement with The Broadcast
Arts Group, Inc. ("BAG") for the creation of infomercials of Smart Stacks.  RJML
pays  all  necessary  expenses  for  the  creation of the infomercials and after
completion,  will  retain  all rights, title and interest arising under the U.S.
Copyright  Act,  the U.S. Trademark Act and all other applicable laws, rules and
regulations in and to the entire editorial, visual, audio and graphic content of
the  infomercials.  In consideration of services rendered by BAG, RJML shall pay
a royalty based on RJML's adjusted gross sales depending on various scenarios as
defined  in  the  agreement.  This agreement has an indefinite term, however, it
may  be  terminated  upon thirty days written notice under certain conditions as
defined  in  the  agreement.

Derma  Wand
-----------

On  August  17,  1999,  WSL entered into a production agreement with BAG for the
creation of infomercials of Derma Wand.  WSL pays all necessary expenses for the
creation of the infomercials and after completion, will retain all rights, title
and  interest  arising  under the U.S. Copyright Act, the U.S. Trademark Act and
all other applicable laws, rules and regulations in and to the entire editorial,
visual,  audio  and  graphic  content  of the infomercials.  In consideration of
services  rendered by BAG, WSL shall pay a royalty based on adjusted revenues or
units sold depending on various scenarios defined in the agreement.  The initial
term  of  this  agreement  is  until  August  31,  2002.  Upon  expiration, this
agreement  automatically  and  continually  renews  for  successive  additional
three-year  terms  unless  either party is in material breach or the other party
notifies the breaching party in writing at least thirty days prior to the end of
the  then  current  term.

On  October  15,  1999,  WSL  entered  into  an  endorsement  agreement  with an
individual  for  her  appearance in a Derma Wand infomercial.  On July 11, 2001,
the  agreement  was  amended  to  include  a  royalty payment for each unit sold
internationally,  up  to a maximum royalty payment for any one calendar quarter.
Further,  if  the infomercial is aired in the United States, then the airing fee
will  revert  back to the same flat rate per calendar quarter.  The initial term
of  the  agreement  is  five  years  starting  October  15, 1999.  The agreement
automatically  and  continually renews for successive additional five-year terms
unless  RJML  is  in material default and is notified in writing at least thirty
days  prior  to  the end of the then current term that the individual intends to
terminate  the  agreement.

The  Company assumed any and all responsibilities associated with the agreements
noted above on April 1, 2000, pursuant to the license and reconveyance agreement
disclosed  in  Note  4.


                                    Page 14
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  6  -  COMMITMENTS  AND  CONTINGENCIES  (CONTINUED)

Derma  Wand  (continued)
------------------------

On  January  5,  2001,  WSL  entered into a marketing and royalty agreement with
Omega  5.  WSL  shall  have worldwide nonexclusive rights to manufacture, market
and  distribute  Derma  Wand.  In consideration of these rights, WSL shall pay a
royalty  for  each  unit  sold  of  Derma Wand depending on various scenarios as
defined  in  the  agreement.  The  agreement  is  silent  as  to  its  duration.

Nail  Dazzle
------------

On  April  10,  2002,  the Company entered into a production agreement with BAG.
Pursuant  to  the  agreement,  BAG  shall  produce  a direct response television
commercial  in  120-second and 60-second versions for the purpose of advertising
and  marketing  a  product known as Nail Dazzle.  The base production budget for
the  commercials  shall be $23,950.  In consideration for the services received,
the  Company  shall  pay a royalty based on adjusted gross revenue, depending on
various  scenarios.  In  addition,  the  Company  shall  pay royalty per kit for
international  television kits sold and international single color cylinder kits
sold.  This  agreement  shall  remain  in  effect unless and until terminated by
either  parties  in  accordance  with  the  provisions  of  the  agreement.

On  April  16, 2002, the Company entered into an exclusive license and marketing
agreement  with  Select  Home  Products  ("SHP").  SHP has granted the exclusive
right  to  market  a  pen-style  nail  decorating device in the United States of
America.  In  consideration  for the right received, the Company shall pay SHP a
royalty  based  on a fully packed kit of ten units of single color of the device
or  the  pro-rata  equivalent  per  individual unit of color of the device.  The
initial  term  of  the  agreement  is  five  years starting April 16, 2002.  The
agreement  automatically  and  continually renews for successive additional five
year  terms  unless  the  Company  is  in  default.

The  Company  has committed to purchase from SHP $100,000 worth of the device by
July  31, 2002.  As of December 31, 2002, the Company had not purchased $100,000
worth  of  the device.  SHP has agreed to extend the deadline until such time as
the $100,000 commitment has been met.  In addition, the Company has committed to
purchase on an annual basis beginning July 31, 2002, for five consecutive years,
the  following  amounts  of  single  units  of  color  of  the  device:

Year  one             750,000  units
Year  two           2,000,000  units
Year  three         2,400,000  units
Year  four          2,880,000  units
Year  five          3,456,000  units

During  the  period,  the  Company  sold  certain  trademarks,  a  domain  name,
copyrights,  infomercials  and  inventory,  all  relating  to  Nail  Dazzle to a
shareholder  (the  "Purchaser").  All commitments entered into by the Company in
connection  with  Nail  Dazzle  have  been  transferred  to  and  assumed by the
Purchaser.


                                    Page 15
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  6  -  COMMITMENTS  AND  CONTINGENCIES  (CONTINUED)

SprintR
-------

On  June  6,  2002,  the Company entered into an exclusive license and marketing
agreement with Land Surfer Scooter Company Ltd. ("LSSC").  LSSC has been granted
by  way of a valid agreement, by the manufacturer, the exclusive right to market
a fold-up rocker-powered scooter.  LSSC agrees to allow the Company to order the
scooters  directly  from the manufacturer and the Company agrees to provide LSSC
all  copies of such orders.  In consideration of the grant received, the Company
shall  pay  LSSC  a  royalty  per unit sold depending on various scenarios.  The
initial  term  of  the  agreement  is  five  years  starting  June 6, 2002.  The
agreement  automatically  and  continually renews for successive additional five
years  unless  the  Company  is  in  default.

Bondzalot
---------

On  July  8,  2002,  the  Company  entered  into  an  exclusive  marketing  and
distribution  agreement  with  an  individual  in  connection  with  a  range of
specialty  adhesive  products  ("Products").  The  individual  has  granted  the
exclusive  right  to  market  through  all forms of distribution a product to be
known as BondzalotTM in all countries throughout the world other than Canada and
the  United  Kingdom,  and  on  a  non-exclusive  basis in Canada and the United
Kingdom.  In consideration for the right received, the Company shall, at its own
expense,  produce and test broadcast a long form infomercial ("Program") and pay
a  royalty  on a per unit basis at a price to be determined.  The Company agrees
to  purchase  a  minimum of $250,000 worth of Products from the individual on an
annual basis, commencing from the date the Program is test broadcasted (December
15, 2002), to retain the exclusive rights, otherwise the license shall revert to
a  non-exclusive  license.  The  initial  term  of  the  agreement is five years
starting  July  8, 2002.  The agreement automatically and continually renews for
successive  additional  five-year terms, unless either party is in breach of the
agreement  and  the  breach  is  not  remedied within 30 days of written notice.

IBIZ
----

On  September  6,  2002, the Company entered into an exclusive license agreement
with  IBIZ, Inc. and its principal (collectively, "IBIZ").  IBIZ has granted the
exclusive  right,  subject  to  certain conditions, to market certain automotive
care  and  appearance  products  through  almost  all forms of distribution on a
worldwide  basis.

In  consideration  for  the  right  received, the Company shall pay a royalty at
varying  rates  depending on various scenarios starting at $0.50 per kit.  For a
certain  period  of  time,  IBIZ  will  also  grant to the Company the option to
purchase  certain  assets,  including  but  not  limited  to,  all  formulas,
specifications,  technical  drawings, patents, trademarks, copyrights, and trade
secrets  for the sum of $3 million, payable as to $1 million cash and $2 million
by  way  of the issuance of a promissory note with interest at Chase Manhattan's
prime  plus  2%  per  annum,  principal  and  interest  payable  in  quarterly
installments over three years and prepayable in full without penalty or premium.
The  initial  term of the agreement is five years starting September 6, 2002 and
shall  continue  in full force and effect unless terminated by mutual agreement.
Upon  expiration  of the initial five-year term, the agreement automatically and
continually renews for successive additional five-year terms, unless the Company
notifies  IBIZ  at  least  30  days  before  the  end  of the then current term.

During  the  period,  the  Company  cancelled  its  agreement  with  IBIZ,  Inc.


                                    Page 16
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  6  -  COMMITMENTS  AND  CONTINGENCIES  (CONTINUED)

Twin  Tech
----------

In  January,  2003, the Company entered into an exclusive agreement with Chevron
Oronite Company LLC ("COC") whereby the parties acknowledge that ICTV intends to
market,  sell  and distribute various automobile fuel and oil additive products,
developed  by  COC,  in the United States and elsewhere in the world via various
means  and  media,  including,  without  limitation, one or more direct response
television programs of 30 minutes or less.  The initial term of the agreement is
three  years  from the date of first airing of the infomercial and automatically
renews  for  three  years  unless  the  Company  is  in  default.

On  February  20, 2003, the Company entered into a Supply Agreement with Calidad
Auto  Tech,  Inc.  ("CAT")  whereby CAT will sell to the Company and the Company
will  purchase  from  CAT  certain  automobile  fuel  and  oil additive products
developed  by  COC.  The  initial  term of the agreement is three years from the
date of first airing of the infomercial and automatically renews for three years
unless  the  Company  is  in  default.

On  April  28,  2003,  the  Company  entered  into  a Broadcast Video Production
Agreement  with  Real  to Reel Productions ("Real to Reel") whereby Real to Reel
will  render  various  services  related  to  the  production  of an infomercial
designed  to  sell  the Chevron/Texaco Automotive Engine Treatment Additive.  In
addition  to  the production fee, the Company shall pay a royalty based on gross
sales  generated  from the infomercial.  The term of the agreement is five years
and  Real to Reel retains the right of first refusal for subsequent new shows to
further  promote  the  product.

On  April  28,  2003,  the  Company  entered  into  a  funding  agreement with a
shareholder,  whereby  the  shareholder  agrees to pay Real to Reel's production
fee,  and  in  return,  the  Company  has agreed to pay a per kit royalty to the
shareholder  based  on  various  scenarios, until such time as the total royalty
payments  reach  $2,000,000.

Other  products
---------------

On June 6, 2002, the Company entered into a sales representative agreements with
six  unrelated entities.  Pursuant to the agreements, these entities shall serve
as  the  exclusive  independent  sales  representatives  for the sale of various
products within a specified territory.  In consideration for the services given,
the  Company  shall pay a commission at a rate ranging from 3% to 20% of the net
sales  price.  The  initial  term  of the agreements range from one to two years
starting June 6, 2002.  The agreements shall automatically and continually renew
for successive additional one to two year terms unless either party notifies the
other,  at  least  thirty  days  before  the  end of the then current agreement.
During  the  period,  the  Company  terminated  all  six  sales  representative
agreements.

Other  matters
--------------

For  the  period  from  April 1, 2000 through June 30, 2003, the Company did not
maintain  product  liability  insurance  for  all  products  sold.  For  certain
products, the Company is listed as an additional insured party under the product
manufacturers'  insurance  policy.  At  present,  management is not aware of any
claims  against  the  Company  for  any  products  sold.

On September 28, 2002, the Company entered into an operating lease agreement for
office  facilities  from  an unrelated party for approximately $2,100 per month.
The  lease is scheduled to expire on October 1, 2003.  The future minimum rental
commitment  is  $18,900  for  the  year  ending  December  31,  2003.


                                    Page 17
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  6  -  COMMITMENTS  AND  CONTINGENCIES  (CONTINUED)

Other  matters  (continued)
---------------------------

On  October  15, 2002, the Company entered into an operating lease agreement for
office  facilities  for its international operations from an unrelated party for
approximately  $3,600 per month for the first 12 months and approximately $4,000
per  month  for  the subsequent 24 months.  The term of the lease is three years
commencing  January  1,  2003  and  ending  December  31,  2005.


NOTE  7  -  RELATED  PARTY  TRANSACTIONS

The Company has received short-term advances from a shareholder.  These advances
amounted  to  $285,298  and  $288,656 as of June 30, 2003 and December 31, 2002,
respectively.  Interest  rates charged during these periods ranged from 5.25% to
15.5%.  These  advances  are  included  in  "Due  to  related  parties"  on  the
accompanying  consolidated  balance  sheets.

The  Company  has  received  short-term advances from shareholders, officers and
directors  of the Company.  These advances amounted to $40,247 and $71,174 as of
June  30,  2003  and  December  31,  2002, respectively.  These advances bear no
interest  and  are due on demand.  It is anticipated that these advances will be
paid  within  one year.  These advances are included in "Due to related parties"
on  the  accompanying  consolidated  balance  sheets.

The  Company  has  a  note  payable  to a shareholder in the amount of $590,723.
During  the  period,  the  shareholder  agreed  to  forego  all interest owed in
connection  with  this note and is in the process of re-writing the note. A gain
of $148,483 ($0.01 per share) has been recorded in connection with the amount of
accrued  interest  forgiven  on  the  note.  The  note  is  unsecured.

The  Company has made sales to entities controlled by directors and shareholders
of  the Company.  Sales to these entities amounted to approximately $117,000 and
$24,000  for  the  three  months ended June 30, 2003 and 2002, respectively, and
approximately  $179,000  and  $54,000 for the six months ended June 30, 2003 and
2002,  respectively.  In  addition,  as  of  June  30,  2003,  the Company has a
receivable  from  one  of  the  entities  controlled by a director, amounting to
$4,500  for  product sales.  No such receivable existed as of December 31, 2002.

The Company has made purchases from entities controlled by a common director and
a shareholder.  Purchases from these entities amounted to approximately $182,000
and $33,000 for the three months ended June 30, 2003 and 2002, respectively, and
approximately  $182,000  and  $56,000 for the six months ended June 30, 2003 and
2002,  respectively.  In  addition,  as  of  June  30,  2003,  the Company has a
receivable from the shareholder, amounting to $31,628 related to the Nail Dazzle
sale.  No  such  receivable  existed  as  of  December  31,  2002.


NOTE  8  -  CAPITAL  TRANSACTIONS

Between  the  periods  February  12,  2002  to June 21, 2002, the Company issued
234,688  shares  of  its  common  stock  at  $1.50  per  share  for  $352,041.


                                    Page 18
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  8  -  CAPITAL  TRANSACTIONS  (CONTINUED)

Between the periods July 1, 2002 to December 31, 2002, the Company issued 50,000
shares  of  its common stock at $1.50 per share for consulting services totaling
$75,000  and  55,000  shares  of its common stock at $1.50 per share for certain
property  and  equipment  totaling  $82,500.

In  December  2002,  the  Company committed 25,000 shares of its common stock at
$1.50  per  share  for  consulting services totaling $37,500.  These shares were
issued  on  January  9,  2003.

On  June  13,  2003,  5,000  shares  at  $1.50  per share, totaling $7,500, were
returned  to  treasury  and  cancelled.  55,000 shares were originally issued on
September  6, 2002 in consideration for certain property and equipment.  As part
of  another  transaction,  it was agreed to reduce the original consideration by
5,000  shares.

During  the period, 4,000 options were exercised at $0.50 per share, for a total
of  $2,000.


NOTE  9  -  BASIC  AND  FULLY  DILUTED  LOSS  PER  SHARE

Statement  of  Financial  Accounting Standards No. 128 (SFAS 128), "Earnings Per
Share"  requires  presentation of basic earnings per share and dilutive earnings
per  share.

The  computation  of  basic  earnings per share is computed by dividing earnings
available  to  common shareholders by the weighted average number of outstanding
common shares during the period.  Diluted earnings per share gives the effect to
all  dilutive  potential  common  shares  outstanding  during  the  period.  The
computation  of  diluted earnings per share does not assume conversion, exercise
or  contingent exercise of securities that would have an anti-dilutive effect on
losses.

The  computations  for  basic  and  fully diluted loss per share are as follows:

<TABLE>
<CAPTION>
                                               Income               Shares             Per Share
                                          -----------------  --------------------  ------------------
For the six months ended June 30, 2003:      (Numerator)        (Denominator)            Amount
----------------------------------------  -----------------  --------------------  ------------------
<S>                                       <C>                <C>                   <C>
Basic and fully diluted income per share
----------------------------------------

Income available to common shareholders   $         47,197             10,613,624  $            0.00
                                          =================  ====================  ==================

                                                 Loss               Shares              Per Share
For the six months ended June 30, 2002:      (Numerator)         (Denominator)           Amount
----------------------------------------  -----------------  --------------------  ------------------

Basic and fully diluted loss per share
----------------------------------------

Loss available to common shareholders     $        (16,690)            10,310,116  $           (0.00)
                                          =================  ====================  ==================
</TABLE>


                                    Page 19
<PAGE>
                     INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  9  -  BASIC  AND  FULLY  DILUTED  LOSS  PER  SHARE  (CONTINUED)

<TABLE>
<CAPTION>
                                                 Income                Shares             Per Share
                                           -------------------  --------------------  -----------------
For the three months ended June 30, 2003:      (Numerator)         (Denominator)           Amount
-----------------------------------------  -------------------  --------------------  -----------------
<S>                                        <C>                  <C>                   <C>
Basic and fully diluted income per share
-----------------------------------------

Income available to common shareholders    $            56,715            10,615,565  $            0.01
                                           ===================  ====================  =================

                                                   Income               Shares             Per Share
-----------------------------------------  -------------------  --------------------  -----------------
For the three months ended June 30, 2002:       (Numerator)         (Denominator)           Amount
-----------------------------------------  -------------------  --------------------  -----------------

Basic and fully diluted income per share
-----------------------------------------

Income available to common shareholders    $            55,293            10,378,511  $            0.01
                                           ===================  ====================  =================
</TABLE>

NOTE  10  -  INCOME  TAXES

The Company did not provide any current or deferred US federal, state or foreign
tax  provision  or  benefit  for  any  of  the  periods presented because it has
experienced  operating  losses since inception.  The Company has provided a full
valuation  allowance  on  the  net  deferred  tax  asset  because of uncertainty
regarding  its  realizability.  This  asset  primarily consists of net operating
losses  and  amortization.

The  Company  had net operating losses of approximately $1,640,000 related to US
federal,  foreign and state jurisdictions through June 30, 2003.  Utilization of
net  operating  losses, which begin to expire at various times starting in 2021,
may  be  subject  to  certain  limitations.

Deferred  income  taxes  reflect  the  net  tax effects of temporary differences
between  the  carrying amounts of assets and liabilities for financial reporting
purposes  and  the  amounts  used  for  income  tax  purposes.

Significant components of the Company's deferred tax assets are approximately as
follows  as  of  June  30:

<TABLE>
<CAPTION>
                                 2003          2002
                             ------------  ------------
<S>                          <C>           <C>

Net operating loss           $   336,000   $   194,000
Basis of investments           2,327,000     2,430,000
Basis of intangibles             428,000       428,000
Basis of stock options           103,000             -
Accumulated amortization         (94,000)      (65,000)
Accumulated depreciation          (8,000)            -
State taxes                     (125,000)     (121,000)
                             ------------  ------------
  Total deferred tax assets    2,967,000     2,866,000
Valuation allowance           (2,967,000)   (2,866,000)
                             ------------  ------------
  Net deferred tax assets    $         -   $         -
                             ============  ============
</TABLE>


                                    Page 20
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  11  -  SEGMENT  REPORTING

The  Company  operates  in one industry segment and is engaged in the selling of
various  consumer products primarily through direct marketing infomercials.  The
Company  evaluates performance and allocates resources based on several factors,
of  which  the  primary  financial measure is operating loss by geographic area.
Operating  expenses  are  primarily  prorated  based on the relationship between
domestic  and  international  sales.

Information  with  respect to the Company's operating loss by geographic area is
as  follows:

<TABLE>
<CAPTION>

                                  For the six months ended June 30, 2003  For the six months ended June 30, 2002
                                   -------------------------------------  --------------------------------------
                                   Domestic    International    Totals     Domestic   International     Totals
                                   ---------  ---------------  ---------  ----------  --------------  ----------
<S>                                <C>        <C>              <C>        <C>         <C>             <C>
Net sales                          $ 166,575  $      772,116   $938,691   $       -   $    1,107,220  $1,107,220
Cost of sales                         23,200         408,952    432,152           -          511,890     511,890
                                   ---------  ---------------  ---------  ----------  --------------  ----------
Gross profit                         143,375         363,164    506,539           -          595,330     595,330
                                   ---------  ---------------  ---------  ----------  --------------  ----------

Operating expenses:
  Depreciation                         2,658          12,322     14,980           -            1,831       1,831
  General and administrative          63,418         293,958    357,376           -          351,552     351,552
  Selling and marketing               14,626          67,795     82,421           -           86,169      86,169
  Royalties                           18,297          84,809    103,106           -          114,087     114,087
  Rent                                 5,307          24,598     29,905      20,683                -      20,683
                                   ---------  ---------------  ---------  ----------  --------------  ----------
Total operating expense              104,306         483,482    587,788      20,683          553,639     574,322
                                   ---------  ---------------  ---------  ----------  --------------  ----------

Operating income (loss)            $  39,069  $     (120,318)  $(81,249)  $ (20,683)  $       41,691  $   21,008
                                   =========  ===============  =========  ==========  ==============  ==========
</TABLE>
<TABLE>
<CAPTION>

                                For the three months ended June 30, 2003  For the three months ended June 30, 2002
                                   -------------------------------------  ------------------------------------
                                   Domestic    International    Totals     Domestic   International    Totals
                                   ---------  ---------------  ---------  ----------  --------------  --------
<S>                                <C>        <C>              <C>        <C>         <C>             <C>
Net sales                          $ 114,016  $      306,986   $421,002   $       -   $      739,150  $739,150
Cost of sales                         19,700         234,362    254,062           -          315,417   315,417
                                   ---------  ---------------  ---------  ----------  --------------  --------
Gross profit                          94,316          72,624    166,940           -          423,733   423,733
                                   ---------  ---------------  ---------  ----------  --------------  --------

Operating expenses:
  Depreciation                         1,945           5,238      7,183           -              930       930
  General and administrative          49,071         132,122    181,193           -          197,545   197,545
  Selling and marketing                9,368          25,224     34,592           -           57,449    57,449
  Royalties                            6,114          16,463     22,577           -           78,493    78,493
  Rent                                 3,565           9,598     13,163      17,866                -    17,866
                                   ---------  ---------------  ---------  ----------  --------------  --------
Total operating expense               70,063         188,645    258,708      17,866          334,417   352,283
                                   ---------  ---------------  ---------  ----------  --------------  --------

Operating income (loss)            $  24,253  $     (116,021)  $(91,768)  $ (17,866)  $       89,316  $ 71,450
                                   =========  ===============  =========  ==========  ==============  ========
</TABLE>


                                    Page 21
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                  (See Independent Accountants' Review Report)
                   -------------------------------------------


NOTE  12  -  LIQUIDITY

The  accompanying  consolidated financial statements have been prepared assuming
the  Company will continue as a going concern and do not include any adjustments
to  reflect  the  possible  future  effects  on the recoverability of assets and
liquidation  of liabilities that may result from this uncertainty.  Although the
Company  generated  positive  cash  flows  from operating activities for the six
month  periods ended June 30, 2003 and 2002, the Company, for the most part, has
experienced  recurring  losses  from operations.  In addition, the Company has a
working  capital deficiency of approximately $505,000 and an accumulated deficit
of  approximately  $1,220,000  as  of June 30, 2003.  These considerations raise
substantial  doubt  about  the Company's ability to continue as a going concern.
Management  is  actively  pursuing  additional  financing  to  fund  the current
operating  losses  and  working  capital  deficiency.


                                    Page 22
<PAGE>
ITEM 2. MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
          OPERATIONS

Except  for  the  historical information presented in this document, the matters
discussed  in this Form 10-QSB, and specifically in the "Management's Discussion
and  Analysis or Plan of Operation", or otherwise incorporated by reference into
this  document  contain "forward looking statements" (as such term is defined in
the  Private Securities Litigation Reform Act of 1995).  These statements can be
identified  by  the  use  of  forward-looking  terminology  such  as "believes",
"expects",  "may", "will", "intends", "should", or "anticipates" or the negative
thereof or other variations thereon or comparable terminology, or by discussions
of strategy that involve risks and uncertainties.  The safe harbor provisions of
Section  21E of the Securities Exchange Act of 1934, as amended, and Section 27A
of  the  Securities Act of 1933, as amended, apply to forward-looking statements
made  by  the  Company.  You  should not place undue reliance on forward-looking
statements.  Forward-looking  statements  involve  risks and uncertainties.  The
actual  results  that  the  Company  achieves  may  differ  materially  from any
forward-looking  statements  due  to  such  risks  and  uncertainties.  These
forward-looking  statements  are  based on current expectations, and the Company
assumes  no  obligation  to  update  this  information.  Readers  are  urged  to
carefully  review  and  consider  the various disclosures made by the Company in
this  report  on  Form  10-QSB and in the Company's other reports filed with the
Securities  and Exchange Commission that attempt to advise interested parties of
the  risks  and  factors  that  may  affect  the  Company's  business.

The  following  discussion and analysis of the Company's financial condition and
results  of  operations  should  be  read  in  conjunction  with  the  Financial
Statements  and accompanying notes and the other financial information appearing
elsewhere  in  this  report.

OVERVIEW

ICTV  was incorporated as Moran Dome Exploration, Inc. on June 25, 1998.  We had
limited  operations and assets until April 2000, when we entered into and closed
a  Share  and Option Purchase Agreement with Kelvin Claney, Robin Jan Claney and
William Ainslie Reece, in their capacity as trustees of The Better Blocks Trust.
When  the  Share  and  Option  Purchase  Agreement  with The Better Blocks Trust
closed,  we  began  our  operations  as  an infomercial company selling products
directly  to  consumers  via  long-form  and  short-form  infomercials,  both
domestically  and  internationally.  We  market products that we own or have the
exclusive  license  to  market  (which we refer to as "our products" or "our own
products"),  and  we  also  act  as  the international marketing distributor for
products  owned  by third parties (which we refer to as "third-party products").
As the international marketing distributor for the third-party products, we take
previously  existing infomercials for third-party products, locate international
infomercial  operators to sell the products featured in the infomercials, and we
receive  either  a  royalty or the difference between the price at which we sell
the  product to the international infomercial operator and the price at which we
acquire  the  product.

Although  we  currently  sell  products  through  infomercials,  the goal of our
business  plan  is  to  use the brand awareness we create in our infomercials so
that  we  can sell the products featured in our infomercials, along with related
families  of  products, under distinct brand names in traditional retail stores.
Our  goal  is  to have these families of products sold in the traditional retail
environment in shelf-space dedicated to the product category.  We are developing
the  infrastructure  to create these brands of products so that we can implement
our  business  plan.

Fluctuations  in our revenue are driven by changes in our product mix.  Revenues
may  vary  substantially from period to period depending on our product line-up.
A  product  that  generates  revenue in one quarter may not necessarily generate
revenues  in  each quarter of a fiscal year for a variety of reasons, including,
seasonal  factors,  the  product's stage in its life-cycle, the public's general
acceptance  of  the  infomercial  and other outside factors, such as the general
state  of  the  economy.

Just  as  fluctuations in our revenues are driven by changes in our product mix,
our  gross  margins  from period to period depend on our product mix.  Our gross
margins  vary according to whether the products we are selling are primarily our
own  products or third-party products.  As a general rule, the gross margins for


                                    Page 23
<PAGE>
our  own  products are considerably higher based on proportionately smaller cost
of  sales.  For  third-party  products, our general experience is that our gross
margins are lower, because we record as cost of sales the proportionately higher
cost  of  acquiring  the  product  from  the manufacturer.  Within each category
(i.e.,  our  own products versus third-party products), gross margins still tend
to  vary  based  on  factors  such  as  market  price  sensitivity  and  cost of
production.

Many  of  our  expenses for our own products are incurred up-front.  Some of our
up-front  expenditures  include  infomercial  production  costs and purchases of
media  time.  If  our  infomercials  are successful, these up-front expenditures
produce revenue on the back-end, as consumers purchase the products aired on the
infomercials.  We  do  not incur infomercial production costs and media time for
our  third-party  products,  because  we  merely  act  as  the  distributor  for
pre-produced  infomercials.  It  is  the  responsibility  of  the  international
infomercial  operators  to  whom  we  sell  the third-party products to take the
pre-produced  infomercial,  adapt  it to their local standards and pay for media
time.

RESULTS  OF  OPERATIONS

Comparison  of  Quarterly  Results

The  following  discussion  compares  our  results of operations for the quarter
ended  June  30,  2003,  with  the  quarter  ended  June  30,  2002.

Revenues

Our  revenues decreased to approximately $421,000 for the quarter ended June 30,
2003, from approximately $739,000 for the quarter ended June 30, 2002, down 43%.
In  2003, as was the case in 2002, we focused on the international markets, with
almost  73%  of  our  revenue  coming  from international sales in comparison to
almost  100%  in  2002.  The  products  that provided most of our revenue in the
quarter ended June 30, 2003, were our own products Nail Dazzle and Smart Stacks,
and  third-party  product  Ab Away.  Sales of our own products made up just less
than  half  of our revenues for the three months ended June 30, 2003, decreasing
to  approximately  $201,000  (48%  of total revenue) from approximately $449,000
(61%  of  total revenues) for the same period in 2002.  During the quarter ended
June  30,  2003,  our  product  Smart  Stacks generated approximately $63,000 in
sales,  or  roughly  15%  of  our  total  sales for the quarter in comparison to
approximately  $9,000  (1%  of  total  sales)  for the same period in 2002.  The
products  that  provided most of our revenue in the quarter ended June 30, 2002,
were  our  Dermawand  and  third-party products Aussie Nads, Cybersonic and Pack
Max.

Gross  Margin

Gross margin percentage decreased to approximately 40% in the quarter ended June
30,  2003,  from  approximately  57%  in  the  quarter ended June 30, 2002.  The
decrease  in  gross  margin  percentage  was  primarily  due to the fact that we
received  more of our total revenues in the quarter ended June 30, 2003 from the
sale  of  third-party  products  whereas  in  the quarter ended June 30, 2002 we
received  more  revenue  from sales of our own products, where our cost of sales
are  much  lower.  In the quarter ended June 30, 2003, we received gross margins
of  approximately  $84,000 for Nail Dazzle, $24,000 for Smart Stacks and $18,000
for  Derma  Wand,  whereas in the quarter ended June 30, 2002, we received gross
margins  of  approximately  $296,000  for  Derma  Wand, $26,000 for Pack Max and
royalties  of  approximately $71,000 and $26,000 for Aussie Nads and Cybersonic.

Operating  Expenses

Total  operating  expenses  decreased  to  approximately $259,000 in the quarter
ended  June  30, 2003, from approximately $352,000 in the quarter ended June 30,
2002,  down  approximately  93,000, or 26%.  The majority of the decrease can be
attributed  to  decreases in royalties ($55,916), selling and marketing expenses
($22,857) and general and administrative expenses ($16,352).  Lower revenues for
the quarter ended June 30, 2003 versus the same period in 2002 resulted in lower
royalties  and  selling  and  marketing  expenses.


                                    Page 24
<PAGE>
Net  Income

To  date,  we  have  not  achieved  profitability on a consistent basis. Our net
income this quarter is almost identical to our net income for the same period in
2002,  however  this  year's  income  is  attributed to a gain realized from the
forgiveness  of  interest  expense  previously  accrued  on  the note payable to
shareholder. Our operating loss for the quarter ended June 30, 2003 increased to
approximately  $92,000 from an operating income of approximately $71,000 for the
quarter  ended  June 30, 2002, for a swing of $163,000. The substantial increase
in  our  operating loss is attributed to the 43% drop in revenues. We anticipate
that  until a follow-up financing is completed, we will continue to operate at a
loss.  Market  acceptance  of  the products we launch will also be a determining
factor  as  to  whether  we  will  continue  to  operate  at  a  loss.

Comparison  of  Year-to-Date  Results

The  following  discussion compares our results of operations for the six months
ended  June  30,  2003,  with  the  six  months  ended  June  30,  2002.

Revenues

Our  revenues  decreased to approximately $939,000 for the six months ended June
30,  2003, from approximately $1,107,000 for the six months ended June 30, 2002,
down 15%. The products that provided most of our revenue in the six months ended
June  30,  2003, were our own products Derma Wand, Nail Dazzle, and Smart Stacks
and third-party product Ab Away. Sales of our own products made up almost 72% of
our revenues for the six months ended June 30, 2003, increasing to approximately
$676,000 from approximately $653,000 (59% of total revenues) for the same period
in  2002.  During  the  six  months  ended June 30, 2003, our product Derma Wand
generated approximately $455,000 in sales, or roughly 48% of our total sales for
the  period in comparison to approximately $645,000 (58% of total sales) for the
same  period  in  2002.  The  products  that provided most of our revenue in the
quarter ended June 30, 2002, were our Derma Wand and third-party products Aussie
Nads,  Cybersonic  and  Pack  Max.

Gross  Margin

Gross  margin percentage remained steady at approximately 54% for the six months
ended  June  30, 2003.  Although revenues were down from the comparative period,
gross  margin  was  identical due to the fact that we received more of our total
revenues  in  the  six  months  ended  June  30,  2003 from the sales of our own
products  as compared to the same period in 2002.  For the six months ended June
30,  2003,  we  received gross margins of approximately $295,000 for Derma Wand,
$96,000  for  Nail Dazzle and $45,000 for Cybersonic, compared to the six months
ended  June  30, 2002, where we received gross margins of approximately $443,000
for  Derma Wand, $26,000 for Pack Max and royalties of approximately $74,000 and
$52,000  for  Aussie  Nads  and  Cybersonic,  respectively.

Operating  Expenses

Total  operating expenses increased to approximately $588,000 for the six months
ended  June  30, 2003, from approximately $574,000 for the six months ended June
30, 2002, up approximately 14,000, or 2%.  The majority of the increase can be
attributed  to  increases  in  depreciation  ($13,149)  and  rent  ($9,222).

Net  Income

As  discussed  in  the  quarterly analysis this year's income is attributed to a
gain realized from the forgiveness of interest expense previously accrued on the
note  payable  to  shareholder. Our operating loss for the six months ended June
30,  2003  increased  to  approximately  $81,000  from  an  operating  income of
approximately  $21,000 for the same period in 2002, for a swing of $102,000. The
substantial  increase  in  our  operating  loss is attributed to the 15% drop in
revenue.


                                    Page 25
<PAGE>
PLAN  OF  OPERATION;  LIQUIDITY  AND  CAPITAL  RESOURCES

At  June 30, 2003, we had no cash, compared to approximately $21,000 at December
31,  2002.  We  generated  positive  cash  flow from operations of approximately
$12,000  for  the  six months ended June 30, 2003, most of which was used to pay
down  advances  from  related  parties,  compared  to  positive  cash  flow from
operations  of  approximately  $97,000  for  the six months ended June 30, 2002.

The  Company  has  a note payable to The Better Blocks Trust ("BB Trust") in the
amount  of  approximately  $591,000.  During  the period, the BB Trust agreed to
forego  all  interest  owed  in connection with this note and the Company and BB
Trust  are  in  the  process of re-writing the note. A gain of $148,483 has been
recorded in connection with the amount of accrued interest forgiven on the note.

Currently,  we  have  granted  1,115,000  stock  options,  120,000  with a $0.50
exercise  price,  310,000  with  a $2.00 exercise price and 685,000 with a $1.50
exercise price.  To date, a total of 24,000 stock options have been exercised at
$0.50  for  $12,000.  If  the  optionees exercise the remainder of these options
over  the next four years as they vest, we will receive approximately $1,700,000
in  capital.  We  estimate  that the $0.50 options granted on September 28, 2001
will  result  in  non-cash compensation expense of approximately $84,000 that we
will  recognize  over  the  next  four  years  as  services  are rendered by the
optionees.  This  assumes  an  estimated fair value of $1.50 per share, based on
the price of our offering of $1.50 per share at the time.  We also estimate that
we will disclose in the notes to our financial statements pro forma compensation
expense  of approximately $1,054,000 over the next four years in accordance with
the  fair  value  based  method  prescribed  in  SFAS  123.

The  Company  has  experienced recurring losses from operations and has negative
cash  flows  from operating activities for the years ended December 31, 2002 and
2001.  In  addition,  the  Company  has  a  working  capital  deficiency  of
approximately $505,000 and an accumulated deficit of approximately $1,220,000 as
of June 30, 2003.  These recurring losses and our need for additional capital to
sustain  operations  has  led  to  the  "going  concern"  opinion  issued by our
independent  auditors.  In  an  effort  to  reach  profitability and become less
dependent on the requirement to finance continuing operations, we are working to
increase  revenues  and  profit  margins  by  continuing the trend of generating
revenues  by selling our own products where our margins are much higher than our
third-party  products.  Furthermore,  we  are  actively  pursuing  additional
financing  so  that we may produce two long-form infomercials and one short-form
infomercial  over  the  course  of  the  next  nine  months.  We have no binding
commitments  or arrangements for additional financing, and there is no assurance
that  our  management  will  be able to obtain any additional financing on terms
acceptable  to  us,  if  at  all.


                                    Page 26
<PAGE>
ITEM  3.     CONTROLS  AND  PROCEDURES

Based  on  the evaluation of the Company's disclosure controls and procedures as
of  a  date  within 90 days of the filing date of this quarterly report, each of
Kelvin  Claney,  the  Chief Executive Officer of the Company, and Patrick Lavin,
the  Chief  Financial  Officer of the Company, have concluded that the Company's
disclosure  controls  and  procedures are effective in ensuring that information
required  to be disclosed by the Company in the reports that it files or submits
under  the  Securities Exchange Act of 1934, as amended, is recorded, processed,
summarized  and  reported  within the time periods and requirements specified by
the  Securities  and  Exchange  Commission's  rules  and  forms.

There were no significant changes in the Company's internal controls or in other
factors that could significantly affect these controls subsequent to the date of
their  evaluation,  including  any corrective actions with regard to significant
deficiencies  and  material  weaknesses.


                                    Page 27
<PAGE>
                           PART II - OTHER INFORMATION
                           ---------------------------


ITEM  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

EXHIBITS

31.1   Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2   Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32     Certifications  pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

REPORTS  ON  FORM  8-K

No  reports  on  Form  8-K  were  filed  during the quarter ended June 30, 2003.


                                    Page 28
<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, thereunto duly
authorized.

     INTERNATIONAL  COMMERCIAL  TELEVISION  INC.


Date:  August  11,  2003     By:  /s/  Kelvin  Claney
                                -------------------------
                             Name:  Kelvin  Claney
                             Title:  Chief  Executive  Officer


Date:  August  11,  2003     By:  /s/  Patrick  Lavin
                                -------------------------
                             Name:  Patrick  Lavin
                             Title:  Chief  Financial  Officer


                                    Page 29
<PAGE>