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 UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
      For the transition period from _________________ to _________________

                         Commission file number 0-32823


                     INNOVATIVE TECHNOLOGY ACQUISITIONS CORP
        (Exact name of small business issuer as specified in its charter)

            Delaware                                       98-0348407
(State or other jurisdiction of                (IRS Employer Identification No.)
 incorporation or organization)


              144 King Street East, Toronto Ontario Canada M5C 1G8
                    (Address of principal executive offices)


                                 (416) 594-4441
                           (Issuer's telephone number)

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: 4,854,086

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

<PAGE>


                         PART I -- FINANCIAL INFORMATION










                  INNOVATIVE TECHNOLOGY ACQUISITION CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                              Financial Statements
                                  July 31, 2002




                                      -2-
<PAGE>

                  INNOVATIVE TECHNOLOGY ACQUISTION CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)

                                  BALANCE SHEET
                               As of July 31, 2002



                                     ASSETS

INTANGIBLES (net of accumulated amortization)                      $      --
                                                                   ===========

                      LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES:
   Loans payable - stockholder                                     $   120,400
   Note payable - affiliate                                            100,000
   Due to stockholders                                                 292,486
   Accrued interest                                                    128,260
   Other accrued expenses                                               41,675
                                                                   -----------
           Total current liabilities                                   682,821

LONG TERM LIABILITIES:
   Other                                                                 5,830
                                                                   -----------
           Total liabilities                                           688,651
                                                                   -----------

STOCKHOLDERS' DEFICIT:
   Common stock, $0.01 par value; 100,000,000 shares authorized,
     4,854,086 shares issued and outstanding                            48,541
   Additional paid-in capital                                        1,355,545
   Deficit accumulated during development stage                     (2,092,737)
                                                                   -----------
           Total stockholders' deficit                                (688,651)
                                                                   -----------
           Total liabilities and stockholders' deficit             $      --
                                                                   ===========









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

                                      -3-
<PAGE>
<TABLE>
<CAPTION>

                  INNOVATIVE TECHNOLOGY ACQUISTION CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)



                            STATEMENTS OF OPERATIONS

                                                                                          Cumulative from
                                                         For the quarter ended            February 8, 1996
                                                                July 31,                    (inception)
                                                  ------------------------------------    through July 31,
                                                        2002                2001                2002
                                                  ----------------    ----------------    ----------------
<S>                                               <C>                 <C>                 <C>
REVENUE                                           $           --      $           --      $           --
                                                  ----------------    ----------------    ----------------

GENERAL AND ADMINISTRATIVE:
   Administrative                                            1,110                 750               6,049
   Development costs                                          --                  --               657,822
   Professional fees                                        20,300                --               198,105
   Promotion                                                  --                  --                41,176
   Consulting                                               20,000              30,000             272,250
   Amortization of intangibles                                --                  --               750,000
   Other                                                      --                  --                43,640
                                                  ----------------    ----------------    ----------------
      Total general and administrative expenses             41,410              30,750           1,969,042
                                                  ----------------    ----------------    ----------------

OTHER INCOME (EXPENSE)
   Interest expense                                         (4,871)             (5,240)           (128,260)
   Other income                                               --                  --                 4,565
                                                  ----------------    ----------------    ----------------
           Total other income (expense)                     (4,871)             (5,240)           (123,695)
                                                  ----------------    ----------------    ----------------

Net loss                                          $        (46,281)   $        (35,990)   $     (2,092,737)
                                                  ================    ================    ================

Loss per share                                    $          (0.01)   $          (0.01)
                                                  ----------------    ----------------

Weighted average number of shares outstanding            4,854,086           4,804,086
                                                  ================    ================

</TABLE>









    The accompanying notes are an integral part of these financial statements

                                      -4-
<PAGE>

                  INNOVATIVE TECHNOLOGY ACQUISTION CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)



                            STATEMENTS OF OPERATIONS




                                                   For the nine months ended
                                                           July 31,
                                                  --------------------------
                                                      2002           2001
                                                  -----------    -----------

REVENUE                                           $      --      $      --
                                                  -----------    -----------

GENERAL AND ADMINISTRATIVE:
   Administrative                                       3,049          7,953
   Development costs                                     --             --
   Professional fees                                   25,300           --
   Promotion                                             --             --
   Consulting                                          90,000         30,000
   Amortization of intangibles                           --             --
   Other                                                  250           --
                                                  -----------    -----------
      Total general and administrative expenses       118,599         37,953
                                                  -----------    -----------

OTHER INCOME (EXPENSE)
   Interest expense                                   (15,351)       (15,720)
   Other income                                          --             --
                                                  -----------    -----------
           Total other income (expense)               (15,351)       (15,720)
                                                  -----------    -----------

Net loss                                          $  (133,950)   $   (53,673)
                                                  ===========    ===========

Loss per share                                    $     (0.03)   $     (0.01)
                                                  -----------    -----------

Weighted average number of shares outstanding       4,854,086      4,804,086
                                                  ===========    ===========








    The accompanying notes are an integral part of these financial statements

                                      -5-
<PAGE>
<TABLE>
<CAPTION>

                  INNOVATIVE TECHNOLOGY ACQUISTION CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)


                       STATEMENTS OF STOCKHOLDERS' DEFICIT
        For the Period from February 8, 1996 (Inception) to July 31, 2002


                                               Common Stock                          Deficit
                                        --------------------------                   Accumulated
                                                                      Additional     During
                                                                      Paid-In        Development      Total
                                          Shares         Amount       Capital        Stage            Deficit
                                        -----------    -----------    -----------    -----------    -----------
<S>                                     <C>            <C>            <C>            <C>            <C>
Initial capitalization for cash,
   at $0.02 per share                     4,500,000    $    45,000    $    45,000    $      --      $    90,000
Common stock issued to
   acquire distribution license
   at $1.00 per share                       500,000          5,000        495,000           --          500,000
Net loss, nine months ended
   October, 11, 1996                           --             --             --         (106,497)      (106,497)
                                        -----------    -----------    -----------    -----------    -----------
Balance at October 31, 1996               5,000,000         50,000        540,000       (106,497)       483,503
Net loss                                       --             --             --          (70,904)       (70,904)
                                        -----------    -----------    -----------    -----------    -----------
Balance at October 31, 1997               5,000,000         50,000        540,000       (177,401)       412,599
Common stock issued for cash,
   at $1.00 per share                       151,500          1,515        149,985           --          151,500
Less: subscription receivable for
   shares issued                               --           (1,515)      (149,985)          --         (151,500)
Net loss                                       --             --             --         (116,022)      (116,022)
                                        -----------    -----------    -----------    -----------    -----------
Balance at October 31, 1998 as
   previously reported                    5,151,500         50,000        540,000       (293,423)       296,577
Adjustment in connection with
   agreement that was not consummated    (1,000,000)       (10,000)        10,000           --             --
                                        -----------    -----------    -----------    -----------    -----------
Balance at October 31, 1998, as
   restated                               4,151,500         40,000        550,000       (293,423)       296,577




    The accompanying notes are an integral part of these financial statements

                                      -6-
<PAGE>

                  INNOVATIVE TECHNOLOGY ACQUISTION CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)



                                               Common Stock                          Deficit
                                        --------------------------                   Accumulated
                                                                      Additional     During
                                                                      Paid-In        Development      Total
                                          Shares         Amount       Capital        Stage            Deficit
                                        -----------    -----------    -----------    -----------    -----------
Common stock issued at $1.00
   per share                                649,586          6,496        643,090           --          649,586
Collection of subscription receivable          --            1,515        149,985           --          151,500
Net loss                                       --             --             --       (1,471,449)    (1,471,449)
                                        -----------    -----------    -----------    -----------    -----------
Balance at October 31, 1999               4,801,086         48,011      1,343,075     (1,764,872)      (373,786)
Net loss                                       --             --             --          (39,907)       (39,907)
                                        -----------    -----------    -----------    -----------    -----------
Balance at October 31, 2000               4,801,086         48,011      1,343,075     (1,804,779)      (413,693)
Common stock issued for services at
   $1.00 per share                            3,000             30          2,970           --            3,000
Net loss                                       --             --             --         (154,008)      (154,008)
                                        -----------    -----------    -----------    -----------    -----------
Balance at October 31, 2001               4,804,086    $    48,041    $ 1,346,045    $(1,958,787)   $  (564,701)
Common Stock issued for services at
   $.20 per share                            50,000            500          9,500           --           10,000
Net Loss                                       --             --             --         (133,950)      (133,950)
                                        -----------    -----------    -----------    -----------    -----------
Balance at July 31, 2002                  4,854,086    $    48,541    $ 1,355,545    $(2,092,737)   $  (688,651)
                                        ===========    ===========    ===========    ===========    ===========

</TABLE>




    The accompanying notes are an integral part of these financial statements

                                       -7-
<PAGE>
<TABLE>
<CAPTION>

                  INNOVATIVE TECHNOLOGY ACQUISTION CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)


                            STATEMENTS OF CASH FLOWS

                                                   For the nine months ended
                                                           July 31,
                                               ---------------------------------


                                               ---------------------------------   Cumulative from February 8, 1996 (inception)
                                                    2002              2001                     through July 31, 2002
                                               ---------------   ---------------   --------------------------------------------
<S>                                            <C>               <C>               <C>
Operating activities:
   Net loss                                    $  (133,950)      $   (53,673)      $                (2,092,737)
   Adjustments to reconcile net loss to
      Net cash used in operating activities:
   Amortization                                       --                --                             750,000
   Development costs                                  --                --                             649,586
     Stock Issued for services                      10,000              --                              10,000
Changes in assets and liabilities:
   Increase in accrued interest                     15,351            15,720                           128,260
   Decrease in subscription receivables               --                --                             151,500
   Increase in other accrued expenses               11,110              --                              41,675
                                               ---------------   ---------------   --------------------------------------------
Net cash used in operating activities              (97,489)          (37,953)                         (361,716)

Cash flows from investing activities:
   Acquisition of distribution license                --                --                            (750,000)
                                               ---------------   ---------------   --------------------------------------------
Net cash used in investing activities                 --                --                            (750,000)

Cash flows from financing activities:
   Loans and advances - shareholders                97,489            37,953                           412,886
   Increase in notes payable - other                  --                --                             105,830
   Proceeds from sales of common stock                --                --                             593,000
                                               ---------------   ---------------   --------------------------------------------
Net cash provided by financing activities           97,489            37,953                         1,111,716

Net increase (decrease) in cash                       --                --                                --
Cash at beginning of the year                         --                --                                --
                                               ---------------   ---------------   --------------------------------------------
Cash at the end of the year                    $      --         $      --         $                      --

</TABLE>


    The accompanying notes are an integral part of these financial statements

                                       -8-
<PAGE>

                  INNOVATIVE TECHNOLOGY ACQUISTION CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)



Supplemental disclosures of non-cash financing activities:
   In November  1998, the Company issued 649,586 shares of common stock at $1.00
per share to reimburse an affiliated  company for costs incurred in developing a
product.
   In May 2001,  the Company  issued  3,000  shares of common stock at $1.00 per
   share to pay a consultant  for  services  related to the  maintenance  of the
   Company's website.
 In December  2001, the Company issued 50,000 shares of common stock at $.20 per
share to pay for investment banking services.







    The accompanying notes are an integral part of these financial statements

                                       -9-
<PAGE>

                  INNOVATIVE TECHNOLOGY ACQUISTION CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)


                          NOTES TO FINANCIAL STATEMENTS



NOTE 1-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
-------------------------------------------------


    Organization and Business Activity
    ----------------------------------

         Innovative  Technology  Acquisition  Corporation,   formerly  known  as
         Virilite Neutracutical  Corporation (the "Company") was incorporated in
         the state of Delaware in February  1996. It was formed with the purpose
         of developing a sophisticated  line of  nutraceutical,  functional food
         and beverage  products,  using a proprietary  formula,  which  utilized
         LIBIDO as a base component.  In February 1996, the Company acquired the
         exclusive  distribution  rights to LIBIDO  for the  United  States  and
         Mexico. Because of prior registration of the name LIBIDO as a trademark
         for an  unrelated  product,  and other  marketing  considerations,  the
         Company refers to the component as VIRILITE (Note 4).

         The  Company is  considered  to be in the  development  stage,  and the
         accompanying  financial  statements,  represent  those of a development
         stage enterprise.

    Use of Estimates
    ----------------

         The  preparation of financial  statements in conformity  with generally
         accepted  accounting  principles  requires management to make estimates
         and  assumptions   that  affect  the  reported  amount  of  assets  and
         liabilities and disclosure of contingent  assets and liabilities at the
         date of the financial statements and the reported amount of revenue and
         expenses during the reporting period.  Actual results could differ from
         those estimates.

    Intangibles
    -----------

         Intangible assets consist of a distribution  license,  which is carried
         at cost less accumulated amortization.

    Net Loss Per Common Share
    -------------------------

         The Company  applies SFAS No. 128,  Earnings Per Share.  In  accordance
         with SFAS No. 128,  basic net loss per share has been computed based on
         the weighted  average of common shares  outstanding  during the period.
         Diluted  earnings  per share  include  the  effects of any  outstanding
         financial instruments that may be converted into common stock. SFAS No.
         128 provides  guidance to  calculate  the  equivalent  number of common
         shares that would be likely  issued in the event the holder would elect
         to convert the financial  instrument  into common  shares.  As per SFAS
         No.128, there were no common stock equivalents at July 31, 2002.





                                      -10-
<PAGE>

                  INNOVATIVE TECHNOLOGY ACQUISTION CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)


                    NOTES TO FINANCIAL STATEMENTS (Continued)


NOTE 1-SUMMARY OF SIGNIFICANT ACCOUNT POLICIES (CONTINUED)

    Income Taxes
    ------------

         The Company  accounts for income taxes  pursuant to the  provisions  of
         FASB No. 109 "Accounting for Income Taxes", which requires, among other
         things, a liability approach to calculating  deferred income taxes. The
         asset and liability  approach  requires the recognition of deferred tax
         liabilities  and assets for the  expected  future tax  consequences  of
         temporary differences between the carrying amounts and the tax bases of
         assets and  liabilities.  The Company has had  operating  losses  since
         inception   and   accordingly   has  not  provided  for  income  taxes.
         Realization  of  the  benefits   related  to  the  net  operating  loss
         carryforward  may be  limited  in any one year due to IRS Code  Section
         382, change of ownership rules.



NOTE 2-LOAN PAYABLE-STOCKHOLDER
-------------------------------

         The loan,  which was incurred in connection  with the  acquisition of a
         distribution license from a corporate  stockholder in August 1996 (Note
         4) had an original due date of August 28, 1998.  In 2002,  the due date
         of the loan was extended to August 28, 2003. The loan bears interest at
         prime plus 1% (or 8.25%).  There are no installment  payments due under
         the terms of the agreement.  Principal plus all accrued interest is due
         on August 28, 2003. Accrued interest at July 31, 2002 was approximately
         $72,000.


NOTE 3-NOTE PAYABLE-AFFILIATE
-----------------------------

         Note payable affiliate had an original due date of May 24, 1998. During
         1998, the due date of the loan was extended until May 24, 2001. The due
         date was extended to May 24, 2003.  The note bears  interest at 1% over
         prime (or 8.25%). There are no installment payments due under the terms
         of the agreement. Principal plus all accrued interest is due on May 24,
         2003.  Accrued interest at July 31, 2002, in connection with this loan,
         was approximately $56,000.


NOTE 4-RELATED PARTY TRANSACTIONS
---------------------------------

    Distribution License
    --------------------

         In February  1996,  the Company  acquired  the  exclusive  distribution
         rights,  in the United  States and Mexico,  to Libido,  from one of its
         stockholders.  For marketing purposes and due to the prior registration
         of the name Libido as a trademark for an unrelated product, the Company
         refers to Libido as "VIRILITE".





                                      -11-
<PAGE>

                  INNOVATIVE TECHNOLOGY ACQUISTION CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)


                    NOTES TO FINANCIAL STATEMENTS (Continued)


NOTE 4-RELATED PARTY TRANSACTIONS (CONTINUED)

    Distribution License (continued)
    --------------------------------

         VIRILITE  is the  base  component  of the  line of  nutraceutical  food
         products the Company plans to develop and market.

         The distribution license,  which expires on December 31, 2014 (Note 1),
         was  purchased  from  one of the  Company's  shareholders  for a  total
         consideration  of  $750,000;  in the form of  $50,000  cash,  a note of
         $200,000  (Note 2) maturing  on August 28, 2003 with  interest at prime
         plus 1% and  500,000  shares of the  Company's  stock  valued at $1 per
         share.

    Development Costs
    -----------------

         The Company,  through a subsidiary of its major  stockholder,  plans to
         commence  development  of a product in the form of an energy bar, which
         will be used for test  marketing  purposes.  Through  October 31, 1998,
         development  costs incurred totaled  $657,822.  No production has taken
         place as of July 31, 2002.

    Consulting Fees
    ---------------

         In the quarter  ended July 31,  2002,  the Company  accrued  $20,000 in
         consulting  fees relating to the interaction  with investment  bankers,
         and acquisition due diligence. The fees are payable to a stockholder of
         the Company.


NOTE 5-SUBSEQUENT EVENTS
------------------------

         The  company  has  entered  into a  letter  of  intent  with  BioSource
         Therapeutics,  Inc.,  to  acquire  100%  of  that  company  in a  stock
         transaction.  It is anticipated that the company will issue 1.4 million
         new shares.  One-third  of those  shares  shall be held in escrow until
         BioSource  meets  certain  to be agreed  upon  performance  milestones.
         BioSource has developed a functional  food  product/dietary  supplement
         that  address the needs of people with  catabolic  caexia also known as
         "wasting  syndrome"  which  affects  people with  HIV/AIDS  and certain
         cancers.

NOTE 6-GOING CONCERN CONSIDERATION
----------------------------------

         The accompanying  financial  statements have been prepared assuming the
         Company  will  continue  as a going  concern.  The basis of  accounting
         contemplates  the recovery of the Company's assets and the satisfaction
         of its liabilities in the normal course of operations. Since inception,
         the  Company  has been  involved in the  acquisition  of the  exclusive
         distribution  rights to LIBIDO for the United  States and  Mexico,  the
         prior  registration of the trademark and the performance of preliminary
         marketing  promotional  activities.  The Company's  ultimate ability to
         attain profitable  operations is dependent upon its main  stockholders'
         providing additional financing to complete its development  activities,
         and to achieve a level of sales to support its cost structure.  Through
         July  31,  2002,  the  Company  has  accumulated  a  deficit   totaling
         approximately  $2,092,737,  which  raises  substantial  doubt about the
         Company's ability to continue as a going concern.



                                      -12-
<PAGE>

                  INNOVATIVE TECHNOLOGY ACQUISTION CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)




         Item 2.  Plan of Operation

Since  inception we have produced no revenues.  We continue to need  shareholder
financing to maintain our  operations.  Since the test marketing  period we have
not produced or  manufactured  any additional  products.  During the next twelve
months it is expected that we will continue to rely on shareholder  financing or
the sale of our securities to continue funding our operations.

         Plan of Operation

         During our  fourth  quarter  we expect to close on the  acquisition  of
BioSource  Technologies,  Inc., a New York based developer of dietary supplement
products and functional  foods.  BioSource has developed a supplement  meant for
people with  catabolic  caexiea,  commonly  referred  to as  "wasting  syndrome"
associated  with  diseases  such as  HIV/AIDS,  hepatitis  and  cancer.  We will
concentrate our efforts on bringing this product to market.  It is expected that
following the acquisition  that a product could be brought to market within 3 to
6 months.  This  product  will be  marketed  to doctors  who treat  people  with
catabolic caexiea.

         While the  acquisition of the BST will be for stock,  it is anticipated
that we will need to raise additional  funds to bring the product to market.  We
will seek to raise the  required  capital  through  private  sales of our common
stock or through debt instruments, such as a convertible debenture.

         The  acquisition of BST will postpone our  introduction  of our current
Virilite product to the market as further described below.  However, it is still
our  intention  to  bring  dietary   supplement  and  functional  food  products
containing Virilite to market.

         The  manufacturer  of  the  Virilite  powder,  Med-Eq  of  Norway,  has
developed  a more  concentrated  form of the dietary  supplement.  We are in the
process of  determining  if any changes will be need to be made to our TERBO Bar
recipes.  Until we are able to assess the need to  reformulate  the TERBO Bar we
intend to import and sell  Virilite in tablet  form.  The tablets are  available
directly from the manufacturer

         We intend to seek contract  manufacturing  and distribute the TERBO Bar
and  other  products  based  on  Virilite.  In  order  to do so we may  have  to
sub-license  the product to the contract  manufacturer  or  distributor or enter
into another type of profit or revenue sharing arrangement

         We have been actively seeking contract manufacturers for the TERBO Bars
and a beverage product had been previously developed, but had not been produced.
We believe that it is important to have product line extensions  available so as
to keep the product line fresh and innovative.

         Marketing  of the  Virilite  products  and any  other  products  we may
acquire,  as described below, will take place mainly on the internet through the
use of web  sites,  search  engine  placement,  banner  ads  and  opt-in  e-mail
advertising.  We will sell our products  directly and not through retail outlets
initially.  The competition  for retail space makes it cost  prohibitive to seek
such placement. We have developed a brand identity using the name "Virilite" and
"TERBO" and intend to continue using those names.


                                      -13-
<PAGE>

                  INNOVATIVE TECHNOLOGY ACQUISTION CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)


         The web site will  contain  information  on the  product,  areas  where
consumers  could  interact  with each other and a secure  e-commerce  site where
consumers  could  purchase  our  products.  It  is  anticipated  that  web  site
development  would be paid for based  upon a revenue  sharing  model or it would
require Us to pay for the web site development  services through the issuance of
our common stock. We prefer these types of arrangements so as to preserve cash.

         Additional  marketing  strategies include the use of infomercials on TV
or Radio.  Radio  infomercials are typically less expensive to produce and radio
time is  significantly  less  expensive than TV time. It is not expected that we
would use this type of  marketing  until we have  established  a  customer  base
through our internet strategy.

         Previously we  advertised  the TERBO Bar in USA Today,  Playboy,  Men's
Health  magazine and on the Howard Stern Show.  These  advertisements  were very
expensive and could not be sustained. Such a national advertising campaign could
be effective  if  sustained.  The  However,  we intend to focus more on internet
marketing as it provides a more cost  effective  approach and the anonymity that
many consumers seek when purchasing personal health items.

         It is probable that our business operations will consume more cash then
they generate over the short-term.  Therefore,  management believes that it will
be  necessary  to raise  additional  capital  for the  Company  through  private
placements of the Company's stock or through shareholder loans.





                                      -14-
<PAGE>

PART II-- OTHER INFORMATION

ITEM 1.         LEGAL PROCEEDINGS
         We are not currently involved in any legal proceedings.

ITEM 2.         CHANGES IN SECURITIES AND USE OF PROCEEDS
         None

ITEM 3.         DEFAULTS UPON SENIOR NOTES.
         None.

ITEM 4.         SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDIERS
         None.

ITEM 5.         OTHER INFORMATION.
         None.

Item 6. Exhibits and Reports on Form 8-K.

(a)  3.1  Articles of Incorporation incorporated by reference from the Company's
          filing on Form 10-SB dated June 1, 2001.
     3.2  Amendment to Articles of Incorporation (November 1997) incorporated by
          reference from the Company's filing on Form 10-SB dated June 1, 2001.
     3.3  Amendment to Articles of Incorporation (December 1999) incorporated by
          reference from the Company's filing on Form 10-SB dated June 1, 2001.
     3.4  Bylaws  incorporated  by reference  from the Company's  filing on Form
          10-SB dated June 1, 2001.
(b) Reports on Form 8-K.  No reports on Form 8-K where filed  during the 3 month
period ended July 31. 2002.


                                   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.

                                                     /s/ Randy Lebow
                                         Innovative Technology Acquisition Corp.
Date: September 20, 2002                             /s/ Randy Lebow
                                                        President





                                      -15-
<PAGE>

                    CERTIFICATION OF CHIEF EXECUTIVE OFFICER
                                   PURSUANT TO
                             18 U.S.C. SECTION 1350,
                      AS ADOPTED PURSUANT TO SECTION 906 OF
                         THE SARBANES-OXLEY ACT OF 2002

I, Randy Lebow, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of Innovative Technology
Acquisition Corp.;

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;

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 20, 2002
/s/ Randy Lebow
President




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