8

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB

[X]  Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange
     Act  of  1934

For  the  quarterly  period  ended  JUNE  30,  2002

[ ]  Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act
     of  1934

     For  the  transition  period  from  __________  to  __________

     Commission  File  Number  0-32905

                           AMANASU ENERGY CORPORATION
                           --------------------------
        (Exact name of Small Business Issuer as specified in its charter)

NEVADA                                              98  -  0347883
------          ------                              --------------
(State  or other jurisdiction of                    (IRS Employer
incorporation)                                      Identification  No.)

                 701 FIFTH AVENUE, 36TH FLOOR, SEATTLE, WA 98109
                 -----------------------------------------------
                    (Address of principal executive offices)

                                  206-262-8188
                                  ------------
                           (Issuer's telephone number)

        _________________________________________________________________
     (Former name, former address and former fiscal year if changed since last
                                     report)


State the number of shares outstanding of each of the issuer's classes of common
equity,  as  of the latest practicable date:   41,247,816 SHARES OF COMMON STOCK
                                              ----------------------------------
ISSUED  AND  OUTSTANDING  AS  OF  AUGUST  12,  2002.
 ---------------------------------------------------

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


                                        2
<PAGE>

PART  I  FINANCIAL  INFORMATION

ITEM  1.          FINANCIAL  STATEMENTS

GENERAL

The  Company's  unaudited financial statements for the six months ended June 30,
2002  are  included  with  this Form 10-QSB.  The unaudited financial statements
have  been  prepared  in  accordance  with  the instructions to Form 10-QSB and,
therefore, do not include all information and footnotes necessary for a complete
presentation  of  financial  position,  results  of  operations, cash flows, and
stockholders'  equity  in  conformity  with  generally  accepted  accounting
principles.  In  the opinion of management, all adjustments considered necessary
for a fair presentation of the results of operations and financial position have
been  included  and  all  such  adjustments  are  of  a normal recurring nature.
Operating  results  for  the  six months ended June 30, 2002 are not necessarily
indicative  of  the  results  that  can  be  expected for the fiscal year ending
December  31,  2002.

                                        3
<PAGE>



                           AMANASU ENERGY CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                                  JUNE 30, 2002
                                   (UNAUDITED)






                                 C O N T E N T S



                                                                     Page
                                                                     ----

     Balance  Sheets                                                  1

     Statements  of  Operations  and  Deficit  Accumulated
          During  Development  Stage                                  2

     Statements  of  Cash  Flows                                      4

     Notes  to  Financial  Statements                                 5






                                        4
<PAGE>

                           AMANASU ENERGY CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                                 BALANCE SHEETS
                                   (UNAUDITED)

<TABLE>
<CAPTION>



                                                    As at         As at
                                                   June 30,    December 31,
                                                     2002          2001
                                                      $             $
<S>                                               <C>         <C>

ASSETS

Current Assets:
    Cash . . . . . . . . . . . . . . . . . . . .  $  71,770   $      35,287
                                                  ----------  --------------
               Total current assets. . . . . . .     71,770          35,287

Fixed Assets:
    Automotive equipment . . . . . . . . . . . .     25,859          25,859
        Less accumulated depreciation. . . . . .      5,510           3,060
                                                  ----------  --------------
               Net fixed assets. . . . . . . . .     20,349          22,799

Other Assets:
    Rent deposit. . . . . . . . . . . .. . . . .      8,028           8,028
                                                  ----------  --------------
               Total assets. . . . . . . . . . .  $ 100,147   $      66,114
                                                  ==========  ==============


LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:
    Accounts payable . . . . . . . . . . . . . .  $     960   $           -
    Stockholder advance. . . . . . . . . . . . .        100             100
                                                  ----------  --------------
                Total current liabilities. . . .  $   1,060   $         100

Stockholders' Equity:
Common Stock, 100,000,000 shares of $0.001 . . .     27,058          27,048
  par value; issued and outstanding 41,257,816
  and 41,247,816, respectively

Additional Paid-in Capital . . . . . . . . . . .    367,482         317,492

Deficit accumulated during the development stage   (295,453)       (278,526)
                                                  ----------  --------------
               Total Stockholders' equity. . . .     99,087          66,014
                                                  ----------  --------------

Total Liabilities and Stockholders' Equity . . .  $ 100,147   $      66,114
                                                  ==========  ==============
</TABLE>




            These statements should be read in conjunction with the
                         year-end financial statements.

                                        5
<PAGE>
                           AMANASU ENERGY CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                      STATEMENTS OF OPERATIONS AND DEFICIT
                      ACCUMULATED DURING DEVELOPMENT STAGE
                                   (UNAUDITED)
<TABLE>
<CAPTION>



                         Six Month Periods Ended June 30,    February 22, 1999
                                  2002      2001            (Date of Inception)
                                                              To June 30, 2002
<S>                     <C>                <C>                  <C>
Revenue:
    Interest income. .  $           28     $     580            $   2,286
Expenses . . . . . . .          16,955        15,030              297,739
                        --------------      ---------           ----------

Loss accumulated . . .  $      (16,927)    $ (14,450)           $(295,453)
    during development
    stage               ==============     ===========          ==========

Loss Per Share -
     Basic and Diluted  $            -     $      -
                        ==============     =========
</TABLE>





            These statements should be read in conjunction with the
                         year-end financial statements.


                                        6
<PAGE>
                           AMANASU ENERGY CORPORATION
                          (A DEVELOPMENT STATE COMPANY)
                      STATEMENTS OF OPERATIONS AND DEFICIT
                      ACCUMULATED DURING DEVELOPMENT STAGE
                                   (UNAUDITED)
<TABLE>
<CAPTION>



                         Quarters Ended June 30,    February 22, 1999
                             2002      2001        (Date of Inception)
                                                     To June 30, 2002
<S>                     <C>             <C>            <C>
Revenue:
    Interest income. .  $         -    $    580        $   2,286
Expenses . . . . . . .       15,710      10,977          297,739
                        ------------  ---------         ---------

Loss accumulated
  during development
  stage . . .           $   (15,710)   $(10,397)       $(295,453)
                        ============   =========       ==========

Loss Per Share -
     Basic and Diluted  $        -     $     -
                        ===========    ========
</TABLE>






            These statements should be read in conjunction with the
                         year-end financial statements.


                                        7
<PAGE>
                           AMANASU ENERGY CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
<TABLE>
<CAPTION>



                                                   Six Month Periods           February 22, 1999
                                                    Ended June 30,            (Date of Inception)
                                               2002              2001          To June 30, 2002
<S>                                            <C>               <C>              <C>
CASH FLOWS FROM OPERATIONS:
Net Loss. . . . . . . . . . . . . . . . .      $  (16,927)
Charges Not Requiring The Outlay Of Cash:
    Depreciation. . . . . . . . . . . . .           2,450                 -           5,510
    Services provided for common stock. .               -             8,105          70,000
Changes In Assets And Liabilities:
Increase in accounts payable. . . . . . .             960                 -             960
                                               -----------       -----------      ----------
    NET CASH CONSUMED BY. . . . . . . . .         (13,517)           (6,345)       (218,983)
      OPERATING ACTIVITIES

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of automobile. . . . . . . . . .               -                 -         (25,859)
Rent deposit for warehouse lease. . . . .               -                 -          (8,028)
                                               -----------       -----------      ----------

    NET CASH CONSUMED BY. . . . . . . . .               -                 -         (33,887)
      INVESTING ACTIVITIES                     -----------       -----------      ----------

CASH FLOWS FROM FINANCING ACTIVITES:
Sales of common stock . . . . . . . . . .          50,000           200,000         324,540
Advances received in anticipation of. . .               -            44,640             100
                                               -----------       -----------      ----------
  common stock sales
                                                   50,000           244,640         324,640
                                               -----------       -----------      ----------
NET CASH PROVIDED BY FINANCING
   ACTIVITIES

Net change in cash. . . . . . . . . . . .          36,483           238,295          71,770

Cash balance, beginning of period . . . .          35,287                 -               -
                                               -----------       -----------      ----------
Cash balance, end of period . . . . . . .      $   71,770        $  238,295       $  71,770
                                               ===========       ===========      ==========
</TABLE>






            These statements should be read in conjunction with the
                         year-end financial statements.


                                        8
<PAGE>
                           AMANASU ENERGY CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2002
                                   (UNAUDITED)


1.     BASIS  OF  PRESENTATION

The  unaudited  interim financial statements of Amanasu Energy Corporation ("the
Company")  as  of  June  30,  2002 and for the three month and six month periods
ended  June  30,  2002 and 2001, have been prepared in accordance with generally
accepted  accounting principles.  In the opinion of management, such information
contains  all  adjustments,  consisting  only  of  normal recurring adjustments,
necessary  for a fair presentation of the results for such periods.  The results
of  operations for the quarter and six month periods ended June 30, 2002 are not
necessarily  indicative  of  the results to be expected for the full fiscal year
ending  December  31,  2002.

Certain  information and disclosures normally included in the notes to financial
statements  have  been  condensed  or  omitted  as  permitted  by  the rules and
regulations  of  the  Securities  and  Exchange Commission, although the Company
believes  the  disclosure  is  adequate  to  make  the information presented not
misleading.  The  accompanying  unaudited financial statements should be read in
conjunction  with  the  financial  statements  of the Company for the year ended
December  31,  2001.





                                        9
<PAGE>

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

Forward  Looking  Statements
----------------------------

This  report  on  Form 10-QSB contains certain forward-looking statements within
the  meaning  of section 21e of the Securities Exchange Act of 1934, as amended,
and  other  applicable securities laws.  All statements other than statements of
historical  fact  are  "forward-looking  statements"  for  purposes  of  these
provisions,  including any projections of earnings, revenues, or other financial
items; any statements of the plans, strategies, and objectives of management for
future  operation; any statements concerning proposed new products, services, or
developments;  any  statements  regarding  future  economic  conditions  or
performance;  statements  of belief; and any statement of assumptions underlying
any  of  the foregoing.  Such forward-looking statements are subject to inherent
risks  and  uncertainties, and actual results could differ materially from those
anticipated  by  the  forward-looking  statements.

Company  Overview
-----------------

The  Company  was organized February 22, 1999.  Our operations to date have been
limited  to  obtaining  the  license  to  the technology, conducting preliminary
marketing  efforts,  and  conducting  preliminary  testing  of  the  equipment.


PLAN  OF  OPERATIONS

The  Company  is  a  development  stage  corporation.  We have not commenced our
planned  operations  of  manufacturing  and  selling a toxic and hazardous waste
disposal  system.

During  the  year 2001, we raised $274,540 through the issuance of common stock,
$200,000  of  which  was the result of the exercise of 20,000,000 stock purchase
options  by  our's president and principal shareholder.  We raised an additional
$50,000  during  the  quarter  ended  June  30,  2002.  We  intend  to  raise
approximately  $2,000,000  to  $3,000,000 in the near future through the private
placement  of our common stock.  The proceeds of such private placements will be
used  to construct two demonstrational units, a one-half ton daily capacity unit
and a one ton daily capacity unit, to fully launch the marketing and sale of our
licensed  proprietary  Amanasu  furnace,  and  for other general working capital
needs.  Our  activities  over the next twelve months will be entirely devoted to
the  construction  of a limited number of demonstrational units, the hiring of a
limited  staff  to  conduct  our  business,  and  the  commencement of marketing
activities.  We have entered into discussions with a number of private investors
concerning the private placement of our common stock.  At this time, however, we
have  not  received  commitments from any source.  Although we are encouraged by
our  discussions,  we  cannot  predict  whether we will be successful in raising
capital,  which  capital  is  essential  to  our  plan  of  operations.

                                       10
<PAGE>

We  expect  to  outsource the construction and fabrication of our units to third
parties,  including the proprietary combustion system which will be manufactured
by the inventor of the furnace at his factory in Hokkaido, Japan.  We expect the
production  cycle  of our product to be three to six months.  We believe that we
can  manufacture  as  many  as  thirty units per month using currently available
manufacturing  and assembly resources and we believe the production and assembly
resources  of  the  third parties will be sufficient to meet anticipated product
demand  of the next twelve months.  Tests are now being conducted of the furnace
at  a  California  facility  which  is  expected  to  be  a  primary  source  of
manufacturing  capability.  Testing  began  in  late  2001.  The second stage of
testing was successfully completed during the second quarter of 2002.  The third
and  final  stage  of testing will be conducted during the remainder of 2002.  A
total  of  $44,000 has thus far been spent on this testing.  The remaining tests
are  expected  to  cost  an  additional  $166,000.

We  will require a minimum of $1,000,000 to satisfy our cash requirements of the
next  twelve  months.  If  we  are  successful  in  raising  this money, we will
commence  production  and marketing of its units to prospective customers in the
Pacific  Rim.  If  we  are  in successful in raising the projected $2,000,000 to
$3,000.000  from  sales  of common stock, management believes that this funding,
along  with  bank  borrowings and cash flow from the sales of units, will enable
the  us  to  commence  the  full  scale manufacture and sale of our product.  We
cannot predict whether we will be successful in our capital raising efforts.  If
we  are not successful in raising $1,000,000, we may not be able to complete our
plan  of  operations.


RESULTS  OF  OPERATIONS

The  results of operations during the second quarter and first half of 2002 were
losses  of  $15,710  and  $16,927, respectively, compared with losses of $10,397
and  $14,450,  respectively,  in  the  comparable  2001  periods.


LIQUIDITY  AND  CAPITAL  RESOURCES

We had cash of $71,770 as of June 30, 2002, up from $35,287 at December 31, 2001
as  a  result  of sales of our common stock.  During the three months ended June
30,  2002,  we  financed our operations mainly through a private placement which
resulted in subscriptions to purchase our Common Stock of $50,000. We anticipate
that  we  will  operate  at  a  loss  for  the  foreseeable  future.  Our  cash
requirements  over  the  next  twelve  months  are estimated to be approximately
$1,000,000,  which are entirely devoted to, the construction of a limited number
of demonstrational units, the hiring of a limited staff to conduct our business,
and  general  working  capital  needs.  We  have entered into discussions with a
number  of  private  investors  concerning  the  private placement of our common
stock,  however, at this time, we have not received commitments from any source.
Moreover,  although  we  are  encouraged  by  our discussions, we cannot predict
whether we will be successful in raising any capital, which capital is essential
to  our  plan  of  operations.

                                       11
<PAGE>

Our  capital  requirements  depend  on  numerous  factors, including the rate of
market  acceptance  of  our  services,  our  ability  to maintain and expand our
customer  base,  the  level of resources devoted to developing and expanding our
marketing  and  sales  organization and our research and development activities,
the  availability  of  materials  provided  by  third-party vendors, the rate of
expansion  of  our  network  infrastructure  and  other  factors.

PART  II  -  OTHER  INFORMATION

Item  1.   Legal  Proceedings

           NONE

Item  2.   Changes  in  Securities  and  Use  of  Proceeds

           NONE

Item  3.   Defaults  Upon  Senior  Securities:

           NONE

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

           NONE

Item  5.   Other  Information:

           NONE

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

      (a)  Exhibits

           Exhibit  -  NONE

      (b)  Reports  on  Form  8-K:  NONE


                                       12
<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.

Dated:  August  13,  2002


                                        AMANASU  ENERGY  CORPORATION



                                        By:  /s/  Atsushi  Maki
                                        ---------------------------------
                                        Atsushi  Maki,  Chairman,  President
                                        and  Chief  Financial  Officer