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 July 31, 2002

         __       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                  SECURITIES EXCHANGE ACT OF 1934

           For the transition period from ____________ to ____________

                        Commission File Number: 001-08397

                               GOLD STANDARD, INC.
        (Exact name of small business issuer as specified in its charter)

                           UTAH                              87-0302579
                  --------------------------           -------------------------
                  (State or other jurisdiction              (IRS Employer
                     of incorporation or                 Identification No.)
                          organization)

          136 South Main Street, Suite 712, Salt Lake City, Utah 84101
          ------------------------------------------------------------
                    (Address of principal executive offices)

                                 (801) 328-4452
                                  -------------
                           (Issuer's telephone number)

                                 Not Applicable
                                 --------------
             (Former name, former address and former fiscal year, if
                           changed since last report.)

         The number of shares of the issuer's common stock outstanding as of
September 16, 2002, is 1,269,885 shares.


<PAGE>

                          PART I. FINANCIAL INFORMATION

Item 1 - Financial Statements

                      GOLD STANDARD, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                       July 31, 2002 and October 31, 2001
<TABLE>
<CAPTION>


                                                                         July 31, 2002               October 31, 2001
                                                                   ---------------------------   -------------------------
                                                                          (Unaudited)
                 ASSETS
<S>                                                                          <C>                        <C>
CURRENT ASSETS
     Cash and cash equivalents                                               $      1,031,091           $          59,548
     Certificates of deposit                                                                -                   1,354,112
     Accounts receivable                                                                  100                       7,512
     Accrued interest                                                                       -                       9,260
     Prepaid expenses                                                                   4,799                       5,476
                                                                   ---------------------------   -------------------------
                 TOTAL CURRENT ASSETS                                               1,035,990                   1,435,908

PROPERTY AND EQUIPMENT
     Equipment and leasehold
       improvements                                                                    11,003                      17,107
                                                                   ---------------------------   -------------------------
                                                                                       11,003                      17,107

OTHER ASSETS
     Investment in affiliate                                                                                       93,665
     Available for sale securities                                                    385,000
                                                                   ---------------------------   -------------------------
                                                                                      385,000                      93,665
                                                                   ---------------------------   -------------------------

                                                                             $      1,431,993           $       1,546,680
                                                                   ===========================   =========================

                 LIABILITIES AND EQUITY

CURRENT LIABILITIES
     Accounts payable - trade                                                $          2,872           $           4,956
     Accrued liabilities                                                                  647                         647
     Income tax payable                                                                     -                         100
                                                                   ---------------------------   -------------------------
                 TOTAL CURRENT LIABILITIES                                              3,519                       5,703

STOCKHOLDERS' EQUITY
     Common stock                                                                       1,270                       1,270
     Additional paid-in capital                                                    13,314,437                  13,314,437
     Note receivable from related party
        for stock issued                                                             (136,379)                   (132,169)
     Accumulated deficit                                                          (12,042,189)                (11,642,561)
     Other comprehensive income                                                       291,335
                                                                   ---------------------------   -------------------------
                 TOTAL STOCKHOLDERS' EQUITY                                         1,428,474                   1,540,977
                                                                   ---------------------------   -------------------------
                                                                             $      1,431,993           $       1,546,680
                                                                   ===========================   =========================
</TABLE>

          See accompanying notes to consolidated financial statements.


                                       1
<PAGE>


                      GOLD STANDARD, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
            Three and nine month periods ended July 31, 2002 and 2001
<TABLE>
<CAPTION>


                                                     Three months ended                        Nine months ended
                                                         July 31,                                   July 31,
                                               ---------------------------------     -----------------------------------
                                                   2002              2001                2002               2001
                                               --------------   ----------------     ---------------   -----------------
                                                (Unaudited)        (Unaudited)         (Unaudited)       (Unaudited)

<S>                                            <C>              <C>                  <C>               <C>
INCOME FROM OPERATIONS                         $           -    $             -      $            -    $               -

EXPENSES

Depreciation                                             186              8,384               6,104               25,152
   Leasehold exploration
     and carrying costs                               78,602             58,689             208,036              221,287
   General and administrative:
     Legal                                             1,486             29,259              14,816               39,823
     Other                                            58,361             64,917             210,509              228,114
                                               --------------   ----------------     ---------------   -----------------
         NET LOSS FROM OPERATIONS                   (138,635)          (161,249)           (439,465)            (514,376)

OTHER INCOME (EXPENSES)
   Interest income                                     4,311             (6,129)             26,735               45,270
   Gain on sale of assets                             13,103                  -              13,103                    -
                                               --------------   ----------------     ---------------   -----------------

NET (LOSS)                                     $    (121,221)   $      (167,378)     $     (399,627)   $        (469,106)


OTHER COMPREHENSIVE INCOME
    Unrealized holding gain                          291,335                  -             291,335                    -
                                               --------------   ----------------     ---------------   -----------------

COMPREHENSIVE INCOME (LOSS)                    $     170,114    $      (167,378)     $     (108,292)   $        (469,106)
                                               ==============   ================     ===============   =================

Net income (loss) per common share             $       (0.10)   $         (0.13)     $        (0.31)   $           (0.37)
                                               ==============   ================     ===============   =================
</TABLE>


          See accompanying notes to consolidated financial statements.


                                       2
<PAGE>


                      GOLD STANDARD, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
            Three and nine month periods ended July 31, 2002 and 2001
<TABLE>
<CAPTION>


                                                     Three months ended                        Nine months ended
                                                         July 31,                                   July 31,
                                               ---------------------------------     -----------------------------------
                                                   2002              2001                2002               2001
                                               --------------   ----------------     ---------------   -----------------
                                                (Unaudited)        (Unaudited)         (Unaudited)       (Unaudited)

<S>                                            <C>              <C>                  <C>               <C>
CASH PROVIDED BY (USED IN)
  OPERATING ACTIVITIES
   Net income (loss)                           $    (121,221)   $      (167,378)     $     (399,627)   $        (469,106)
    Add (deduct) adjustments
     to cash basis:
       Depreciation                                      186              8,384               6,104               25,152
       Decrease (increase) in:
         Accrued interest                                  -             16,894               9,260               (3,289)
         Prepaid expenses                             (1,493)            (2,637)                677               (1,967)
         Accounts receivable                               -                  -               7,412                    -
       Increase (decrease) in:
         Accounts payable                             (1,708)             3,860              (2,085)               4,668
         Income tax payable                                -                  -                (100)                (100)
         Accrued liabilities                               -                  -                   -                 (445)
                                               --------------   ----------------     ---------------   -----------------

           NET CASH PROVIDED BY (USED
           IN) OPERATING ACTIVITIES                 (124,236)          (140,877)           (378,359)            (445,087)

CASH USED IN INVESTMENT
  ACTIVITIES
   Decrease (increase) in
    certificates of deposits                               -             (5,967)          1,354,112              (19,471)
   Equipment purchased                                     -                  -                   -               (1,091)
   Increase in note receivable                        (1,041)            (2,329)             (4,210)              (6,986)
                                               --------------   ----------------     ---------------   -----------------

           NET CASH USED IN
           INVESTMENT ACTIVITIES                      (1,041)            (8,296)          1,349,902              (27,548)

NET INCREASE (DECREASE) IN CASH
    AND CASH EQUIVALENTS                            (125,277)          (149,173)            971,543             (472,635)

CASH BALANCE AT BEGINNING
  OF PERIOD                                        1,156,368            255,444              59,548              578,906
                                               --------------   ----------------     ---------------   -----------------

CASH BALANCE AT END
  OF PERIOD                                    $   1,031,091    $       106,271      $    1,031,091    $         106,271
                                               ==============   ================     ===============   =================
</TABLE>



          See accompanying notes to consolidated financial statements.

                                       3
<PAGE>



                      GOLD STANDARD, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                       July 31, 2002 and October 31, 2001
                                   (Unaudited)



NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         The Company's accounting policies reflect industry practices and
         conform to generally accepted accounting principles. The following
         policies are considered to be significant:

         Financial Statements
         --------------------
         The financial information provided in the Consolidated Balance Sheet
         for the year ended October 31, 2001, has been taken from the audited
         financial statements at that date. In the opinion of management, all
         adjustments necessary to present fairly the financial position, results
         of operations and cash flow at July 31, 2002, have been made. All such
         adjustments were of a normal, recurring nature.

         Principles of Consolidation
         ---------------------------
         The accompanying consolidated financial statements at July 31, 2002,
         include the accounts of Gold Standard, Inc., and its subsidiaries, Gold
         Standard South, Gold Standard Minas, S.A. and Tormin, S.A. As used
         herein, references to Gold Standard, Inc., the Registrant, or the
         Company refers to Gold Standard, Inc. and its consolidated
         subsidiaries. All significant intercompany balances and transactions
         are eliminated.

         Gold Standard South, a Utah corporation, was organized for the purpose
         of carrying on a property acquisition and gold exploration program in
         the country of Uruguay, but is no longer conducting operations. Gold
         Standard Minas was organized for the purpose of carrying on a gold
         exploration program in the country of Brazil. Tormin S.A. at one time
         held certain mineral exploration concessions in Uruguay but is no
         longer operating.

         Investment in Mining Properties
         -------------------------------
         Prospecting and exploration costs incurred in the search for new mining
         properties are charged to expense as incurred. Direct costs associated
         with the development of identified reserves are capitalized until the
         related geological areas are put into production, sold or abandoned. As
         of July 31, 2002, there were no geological areas under production.


                                       4
<PAGE>

                      GOLD STANDARD, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                       July 31, 2002 and October 31, 2001
                                   (Unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

         Loss Per Share
         --------------
         The Company applies Statement of Financial Accounting Standards No. 128
         Earnings Per Share (SFAS No. 128) which requires the calculation of
         basic and diluted loss per share. Basic loss per share of common stock
         is computed based on the weighted-average number of common shares
         outstanding during the period. The Company has common stock equivalents
         outstanding at July 31, 2002 in the form of stock warrants. These
         warrants were excluded in the calculations of diluted loss per share
         because their inclusion would have been anti-dilutive.

         Comprehensive Income
         --------------------
         The Company applies Statement of Financial Accounting Standards No. 130
         Reporting Comprehensive Income (SFAS No. 130). Comprehensive income is
         defined as the change in equity of a business enterprise during a
         period from transactions and other events and circumstances from non-
         owner sources. It includes all changes in equity during a period except
         those resulting from investments by owners and distributions to owners.

         Cash Equivalents
         ----------------
         For purposes of the statement of cash flows, the Company considers all
         highly liquid debt instruments and investments readily convertible into
         cash, or purchased with a maturity of three months or less, to be cash
         equivalents.

NOTE 2 - EQUIPMENT AND LEASEHOLD IMPROVEMENTS

         Equipment and leasehold improvements are stated at cost. Maintenance,
         repairs, and renewals, which neither materially add to the value of the
         property nor appreciably prolong its life, are charged to expense as
         incurred. Gains or losses on dispositions of property, equipment, and
         leasehold improvements are included in earnings. Depreciation and
         amortization of property and equipment is provided on the straight-line
         method using the estimated lives shown below:

                                                             Years
                                                             -----
                Furniture and equipment                       3-7
                Transportation equipment                       5
                Leasehold improvements                    lease term


                                       5
<PAGE>

                      GOLD STANDARD, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                       July 31, 2002 and October 31, 2001
                                   (Unaudited)


NOTE 3 - INVESTMENT IN AFFILIATE

         On April 26, 2002, Pan American Motorsports (PAM) agreed in principal
         with an unrelated third party, Queench, Inc., (Queench) to issue
         7,000,000 shares of its stock. At the same time, the PAMS president
         sold 1,000,000 shares of PAMS stock to Queench. In addition, Gold
         Standard and its president and the PAMS president transferred voting
         rights for shares beneficially owned by each to Queench until April 26,
         2004. As a result of these transactions, Gold Standard's ownership
         percentage in PAMS dropped to 11.6% effective with the closing date of
         the transactions of May 31, 2002. Gold Standard now accounts for its
         investment in PAMS under FASB 115, Accounting for Certain Investments
         in Debt and Equity Securities. The aggregate fair value, cost basis and
         unrealized holding gain of Gold Standard's investment in PAMS is as
         follows:

                                                            July 31, 2002
                                                            -------------

                  Available for sale investment               $385,000

                  Cost basis                                  $ 93,000

                  Unrealized holding gain included in
                           other comprehensive income         $291,335


NOTE 4 - MINING PROPERTIES

         The Company holds directly or through its subsidiary companies, mineral
         and exploration rights to property located in Brazil. All exploration
         costs associated with these properties have been charged to operations
         as incurred, consistent with the Company's accounting policies (see
         Note 1). No development costs have been capitalized on these properties
         through July 31, 2002.

NOTE 5 - RELATED PARTY TRANSACTIONS

         The Company has funded the majority of the operations of its
         subsidiaries Gold Standard South, Gold Standard Minas, and Tormin S.A.
         with unsecured non-interest bearing long-term cash advances. As of July
         31, 2002, the Company had receivables from these companies of $513,936,
         $2,567,923 and $270,360, respectively. All intercompany transactions
         have been eliminated in consolidation.

         In January 2000 the Company president exercised options to purchase
         100,000 shares of common stock at $1.50 per share. The shares were
         purchased with a non-interest bearing promissory note in the amount of
         $150,000. The note has been discounted at a rate of 6.21% and is due on
         January 18, 2004.

                                       6
<PAGE>


                      GOLD STANDARD, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                       July 31, 2002 and October 31, 2001
                                   (Unaudited)


NOTE 6 - NON-COMPENSATORY STOCK WARRANTS

         In connection with issuance of its common stock, the Company has issued
         warrants to outside parties for the purchase of additional shares at
         specified prices in the future. Unexercised warrants aggregate 46,875
         shares at July 31, 2002. They carry a weighted average price of $12 per
         share and have a weighted average remaining life of .66 years.

NOTE 7 - WARRANTS ISSUED AS COMPENSATION

         The Company has issued compensatory stock warrants to officers,
         employees and consultants during the course of business. No
         compensation expense has been recorded for these warrants.

         Reported and pro forma net loss and loss per share for the period ended
         July 31, 2002 are as follows:

                           Net loss
                             As reported             $ (399,627)
                             Pro forma               $ (399,627)

                           Loss per share
                             As reported                   (.31)
                             Pro forma                     (.31)

         The weighted-average fair values at date of grant for compensatory
         warrants were estimated using the Black-Scholes option pricing model,
         based on the following assumptions: (1) no expected dividend yields;
         (ii) an expected volatility rate of 110%; and (iii) expected weighted
         average lives of 2.92 years. The weighted-average risk-free interest
         rate applied was 5.78%.

         Stock warrant activity is summarized as follows:

                                                                        Avg.
                                                                      Exercise
                                                               Shares   Price
                Warrants outstanding
                  beginning of period                         100,000  $ 1.75
                    Granted                                      -          -
                    Exercised                                    -          -
                    Canceled or expired                          -          -
                                                              -------

                Warrants outstanding
                  and exercisable,
                  end of period                               100,000  $ 1.75
                                                              =======

         All 100,000 outstanding warrants at July 31, 2002 were exercisable at
         $1.75 per share and carried a weighted average remaining contractual
         life of .92 years.


                                       7
<PAGE>


                      GOLD STANDARD, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                       July 31, 2002 and October 31, 2001
                                   (Unaudited)


 NOTE 8 - INCOME TAXES

         The Company has significant net operating loss and net capital loss
         carry forwards which should give rise to a deferred tax asset. Because
         the Company has no assurance that the tax benefit from the net
         operating loss and net capital loss will ever be realized, a valuation
         allowance has been provided equal to the deferred tax asset.

         The amounts and expiration dates of net operating loss carry forwards
         and investment tax credits at July 31, 2002 are detailed in the
         following summary:

                                   Federal            State             Net
                                 Net Operating     Net Operating       Capital
         Expiration Date            Loss             Loss               Loss
         ----------------        --------------   ----------------  -----------
         October 31, 2002        $           --   $           --    $    74,928
         October 31, 2003             1,441,272               --        101,409
         October 31, 2004               675,277               --             --
         October 31, 2005             1,106,261               --             --
         October 31, 2006               545,495               --             --
         October 31, 2007               478,137               --             --
         October 31, 2009               613,656               --             --
         October 31, 2010               124,338          124,138             --
         October 31, 2012                63,410           63,210             --
         October 31, 2013                    --          245,865             --
         October 31, 2014                    --          318,944             --
         October 31, 2015                    --          167,861             --
         October 31, 2016                    --          245,121             --
         October 31, 2018               246,157               --             --
         October 31, 2019               319,144               --             --
         October 31, 2020               168,061               --             --
         October 31, 2021               245,321               --             --
                                 --------------   --------------    -----------
                                 $    6,026,529   $    1,165,139    $   176,337
                                 ==============   ==============    ===========


NOTE 9 - CONCENTRATION OF CREDIT RISK

         The Company maintains substantially all cash balances with various
         financial institutions located in the State of Utah. Accounts at the
         financial institutions are insured by the Federal Deposit Insurance
         Corporation up to $100,000 per institution. Uninsured balances totaled
         $931,091 at July 31, 2002.

                                       8
<PAGE>

Item 2 - Management's Discussion and Analysis of Financial Condition and Results
         of Operations

Introduction

         Gold Standard, Inc. and its subsidiaries (the Registrant) were formed
to engage in the acquisition, exploration, and if warranted, development of gold
mineralized properties. At the present time, Registrant's activities are solely
exploration related and concentrated in Brazil. The following discussion should
be read in conjunction with the text of Management's Discussion and Analysis of
Financial Condition and Results of Operations contained in Registrant's Form
10-KSB for fiscal year ended October 31, 2001.

Results and Plan of Operations

         No revenue was generated by Company operations during the nine-month
periods ended July 31, 2002 and 2001.

         Exploration related expenses for the current three-month period ended
July 31, 2002 were $78,602 compared to $58,689 for the three-month period ended
July 31, 2001. Exploration related expenses for the current nine-month period
ended July 31, 2002 were $208,036 compared to $221,287 for the nine-month period
ended July 31, 2001. Unless exploration activities discover deposits with
developmental potential or Registrant acquires new exploration opportunities,
Registrant currently anticipates that exploration expenses will continue at the
level experienced in the first nine months for the remainder of the current
year.

         Registrant's general and administrative expenses, excluding legal
expenses totaled $58,361 for the three-month period ended July 31, 2002 compared
to $64,917 for the three-month period ended July 31, 2001. General and
administrative expenses, excluding legal expenses totaled $210,509 for the
nine-month period ended July 31, 2002 compared to $228,114 for the nine-month
period ended July 31, 2001. The two most significant general and administrative
expense categories during the nine-month period ended July 31, 2002 were (a)
professional and consulting fees $37,124 ($44,963 in 2001) and (b) wages and
salaries $117,000 ($117,000 in 2001). The balance of general and administrative
expenses includes office supplies and expenses, office rent, travel, etc.
Expenses for the remaining three months of the year, with the exception of
professional and consulting fees should remain close to level in the first nine
months of the year. With the completion of year-end accounting services,
professional and consulting fees should decrease considerably during the
remaining three months of the year. The Registrant's management has been
conscientious in striving to control general and administrative expenses. The
Registrant has no long-term debt and is expected to meet all of its obligations
as they come due.

         Registrant presently plans to continue its present level of exploration
activities on its Brazilian properties. To the extent that Registrant is unable
to generate revenues from its activities, for operations Registrant will
continue to rely on cash, cash equivalents and certificates of deposit currently
on hand. As described in more detail in the Registrant's last Annual Report on
Form 10-KSB, the Registrant presently anticipates that, unless there are
unanticipated increases in expenses, its current funds will allow it to continue
the current level of operations activities through the fiscal year ending
October 31, 2003. Unless Registrant is able to generate adequate revenues from
its activities, after such time (or prior to such time if operations or expenses
exceed current levels significantly), Registrant will need to raise additional
funds through debt or equity financing to continue operations. Registrant's

                                       9
<PAGE>

ability to raise such additional capital at such time will depend on the
prospects for the registrant's activities. There is no assurance that Registrant
will be able to obtain the capital it requires to continue operations on terms
and conditions acceptable to Registrant, even if the Registrant's exploration
activities prove successful.

         The Registrant's future results of operations, to a significant degree,
depend on its success in locating, acquiring and producing commercial gold
deposits. With exploration proceeding on several properties whose commercial
production potential is not presently determinable, and considering the
difficulty of projecting future mineral prices, which tend to be volatile, it
is, at best, difficult to accurately project future results of operations.

         In addition to continuing operations as described above, the Registrant
continues its efforts exploring opportunities to merge or consolidate with
another operating business, in an effort to reestablish a Nasdaq listing, to
redirect operations, and/or to take advantage of the Registrant's status as a
public entity. As previously disclosed, such efforts may lead to a change in
business direction. While the Registrant has reviewed a number of potential
opportunities over the past year, to date it has not entered into any agreements
or arrangements to effect such changes.

Factors that May Affect Future Results

         THIS QUARTERLY REPORT ON FORM 10-QSB CONTAINS FORWARD-LOOKING
STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933, AS
AMENDED. FORWARD-LOOKING STATEMENTS RELATE TO OUR FUTURE PLANS, OBJECTIVES,
EXPECTATIONS, AND INTENTIONS. THESE STATEMENTS MAY BE RECOGNIZED BY THE USE OF
WORDS SUCH AS "BELIEVES," "EXPECTS," "MAY," "WILL," "INTENDS," "PLANS,"
"SHOULD," "SEEKS," "ANTICIPATES," AND SIMILAR EXPRESSIONS. IN PARTICULAR,
STATEMENTS REGARDING OUR ESTIMATED FUTURE OPERATIONAL EXPENSES, NEED FOR
ADDITIONAL CAPITAL, AND POTENTIAL FUTURE BUSINESS OPPORTUNITIES ARE
FORWARD-LOOKING STATEMENTS AND SUBJECT TO MATERIAL RISKS. ACTUAL RESULTS COULD
DIFFER MATERIALLY FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS AS A
RESULT OF THE FACTORS SET FORTH BELOW AND THE MATTERS SET FORTH IN THE REPORT
GENERALLY. WE CAUTION THE READER, HOWEVER, THAT THIS LIST OF FACTORS IS NOT BE
EXHAUSTIVE, PARTICULARLY WITH RESPECT TO FUTURE FACTORS. ANY FORWARD-LOOKING
STATEMENTS ARE MADE PURSUANT TO THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995 AND, AS SUCH, SPEAK ONLY AS OF THE DATE MADE. WE UNDERTAKE NO
RESPONSIBILITY TO UPDATE PUBLICLY ANY FORWARD-LOOKING STATEMENTS FOR ANY REASON,
EVEN IF NEW INFORMATION BECOMES AVAILABLE OR OTHER EVENTS OCCUR IN THE FUTURE.

         Factors that may affect forward-looking statements include a wide range
of factors that could materially affect future developments and performance,
including the following: Changes in company-wide strategies, which may result in
changes in types or mix of business in which Registrant is involved or chooses
to invest; changes in exploration related activities, changes in U.S, global or
regional economic conditions, changes in U.S. and global financial and equity
markets, including significant interest rate fluctuations, which may impede
Registrant's access to, or increase the cost of, external financing for its
operations; legal and regulatory developments, such as regulatory actions
affecting environmental activities; adverse weather conditions or natural
disasters, such as hurricanes and earthquakes; and labor disputes, which may
lead to increased costs or disruption of operations.

                                       10
<PAGE>

                           PART II - OTHER INFORMATION

Item 1 - Legal Proceedings

         None.

Item 2 - Changes in Securities

         None.

Item 3 - Defaults on Senior Securities

         None.

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

         None.

Item 5 - Other Information

         None.

Item 6 - Exhibits and Reports on Form 8-K

         (a)      Exhibits
                  --------

         The following exhibits are attached hereto or are incorporated herein
by reference as indicated in the table below:

         Exhibit                                             Location if other
           No.                Title of Document           than attached hereto
         -------              -----------------           --------------------

         3.01*             Articles of Incorporation        1999 Form 10-KSB
                           (as amended to date)             Exhibit 3.01

         3.02*             Amended Bylaws                   2000 Form 10-KSB
                                                            Exhibit 3.02

         99.1              Certification

* Denotes exhibits specifically incorporated in this Form 10-QSB by reference to
other filings of Registrant pursuant to the provisions of Securities and
Exchange Commission rule 12b-32 and Regulation S-B, Item 10(f)(2). These
documents are located under File No. 001-10287 at, among other locations, the
Securities and Exchange Commission, Public Reference Branch, 450 5th St., N.W.,
Washington, D.C. 20549.

                                       11
<PAGE>

         (b)      Reports on Form 8-K
                  -------------------

         There were no reports on Form 8-K filed by the Registrant during the
quarter ended July 31, 2002.


                                   SIGNATURES

         In accordance with the requirements of the Exchange Act, the registrant
has caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.

                                        GOLD STANDARD, INC.


Date     September 16, 2002             By:   /s/ Scott L. Smith
                                           -------------------------------------
                                           Scott L. Smith
                                           President and Chief Financial Officer



                                 CERTIFICATIONS

I, Scott L. Smith, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of Gold Standard, Inc.;

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

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


Date     September 16, 2002             By:     /s/ Scott L. Smith
                                           -------------------------------------
                                           Scott L. Smith
                                           President and Chief Financial Officer


                                       12
<PAGE>