NEW MILLENNIUM MEDIA INTERNATIONAL, INC.

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                   QUARTERLY REPORT UNDER SECTION 13 OR 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                ------------------------------------------------
                        For quarter ended March 31, 2003
                         Commission File Number 0-29195


                    NEW MILLENNIUM MEDIA INTERNATIONAL, INC.
                 (Name of Small Business Issuer in Its Charter)

        Colorado                           (7310)                84-1463284
--------------------------------------------------------------------------------
(State or jurisdiction of      (Primary Standard Industrial   (I.R.S. Employer
incorporation or organization)   Classification Code Number  Identification No.)

                         200 9th Avenue North, Suite 210
                          Safety Harbor, Florida 34695
                                 (727) 797-6664
                                 --------------
        (Address and Telephone Number of Principal Executive Offices and
                          Principal Place of Business)

                            John D. Thatch, President
                    New Millennium Media International, Inc.
                         200 9th Avenue North, Suite 210
                          Safety Harbor, Florida 34695
            (Name, Address and Telephone Number of Agent for Service)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed  by  Section  13 or 15 (d) of the  Securities  Exchange  Act of 1934
during the preceding 12 months (or for such shorter  period that the  registrant
was  required  to file such  reports),  and (2) has been  subject to such filing
requirements for the past 90 days.

                                 Yes [X] No [ ]

As of March 31, 2003 there were 10,724,848  shares of the Company's common stock
issued and outstanding.

<PAGE>

                    NEW MILLENNIUM MEDIA INTERNATIONAL, INC.

                                      INDEX
                                                                            Page
                                                                            ----
Part I   Financial Information.................................................3
         Item 1   Financial Statements ........................................3
                  Condensed Balance Sheet......................................3
                  Condensed Statement of Operations............................4
                  Condensed Statement of Cash Flows............................5
                  Notes to the Condensed Financial Statements..................6
         Item 2   Management's Discussion and Analysis of
                  Financial Condition and Results of Operations...............10
                  Overview....................................................10
                  Critical Accounting Policies................................11
                  Liquidity and Capital Resources.............................11
                  Material Changes in Financial Condition.....................11
                  Results of Operations.......................................11
                  Operating Expense...........................................12
                  Loss From Operations........................................13
                  Net Loss....................................................13
                  Trends and Events...........................................14
         Item 3   Quantitative and Qualitative Disclosures
                  About Market Risk...........................................14
Part II  Other Information....................................................14
         Item 1   Legal Proceedings...........................................14
         Item 2   Changes in Securities and Use of Proceeds...................15
                  Common Stock Transferred....................................15
                  Use of Proceeds.............................................15
         Item 3   Defaults Upon Senior Securities.............................15
         Item 4   Submission of Matters to a Vote of Security Holders.........15
         Item 5   Other Information...........................................15
         Item 6   Exhibits and Reports on Form 8-K............................16
Signatures....................................................................16
Exhibit Index.................................................................17
Certifications................................................................18

                                       2
<PAGE>

                          PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

                    NEW MILLENNIUM MEDIA INTERNATIONAL, INC.
                                BALANCE SHEETS

<TABLE>
<CAPTION>
                                     ASSETS
                                     ------
                                                               March 31, 2003
                                                                (Unaudited)  December 31, 2002
                                                                -----------  -----------------
CURRENT ASSETS
<S>                                                             <C>             <C>
Cash                                                            $      4,403    $     16,335
Accounts receivable, net                                              16,388           1,006
Other receivables, net                                                    --           2,891
                                                                ------------    ------------
TOTAL CURRENT ASSETS                                                  20,791          20,232
                                                                ------------    ------------

PROPERTY AND EQUIPMENT, NET                                        1,020,572       1,065,870
                                                                ------------    ------------

OTHER ASSETS
Deferred royalty expense                                              50,000          75,000
Deposits                                                              21,276          21,276
                                                                ------------    ------------
TOTAL OTHER ASSETS                                                    71,276          96,276
                                                                ------------    ------------
TOTAL ASSETS                                                    $  1,112,639    $  1,182,378
                                                                ============    ============

                    LIABILITIES AND STOCKHOLDERS' DEFICIENCY
                    ----------------------------------------

CURRENT LIABILITIES
Notes and loans payable                                              582,024       1,297,940
Notes payable, related party                                              --         303,657
Accounts payable                                                     470,091         449,865
Royalties payable                                                     83,924          83,924
Accrued expenses                                                     338,017         330,707
Accrued compensation                                                 143,505         154,250
Customer deposits                                                         --          28,500
Deferred revenues                                                     68,777          41,609
Deferred gain on sale of future revenues                             150,000         150,000
Accrued commitment penalty                                           200,000         200,000
                                                                ------------    ------------
TOTAL CURRENT LIABILITIES                                          2,036,338       3,040,452
                                                                ------------    ------------

REDEEMABLE PREFERRED STOCK (1,021,655 SHARES)                      1,021,655              --
STOCKHOLDERS' DEFICIENCY
Preferred stock, par value $0.001; 10,000,000 shares
     authorized Convertible Series A, Preferred stock,
     5,000,000 shares authorized, 237,173 and 12,173
     shares issued and outstanding, respectively,
     2003 and 2002                                                       237              12
Preferred stock issuable, at par value (50,000 shares)                    50              --
Common stock, par value $0.001; 15,000,000 shares authorized,
     10,724,848 and 10,253,508 shares issued and outstanding,
     respectively, 2003 and 2002                                      10,725          10,254
Common stock issuable, at par value. (1,000 shares)                        1               1
Additional paid in capital                                         5,529,447       5,101,664
Accumulated deficit                                               (7,400,344)     (6,915,826)
                                                                ------------    ------------
                                                                  (1,859,884)     (1,803,895)
Less deferred consulting expense                                     (72,895)        (44,104)
Less subscriptions receivable                                        (12,575)        (10,075)
                                                                ------------    ------------
TOTAL STOCKHOLDERS' DEFICIENCY                                    (1,945,354)     (1,858,074)
                                                                ------------    ------------
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK
    AND STOCKHOLDERS' DEFICIENCY                                $  1,112,639    $  1,182,378
                                                                ============    ============
</TABLE>

                 See accompanying notes to financial statements

                                       3
<PAGE>

                    NEW MILLENNIUM MEDIA INTERNATIONAL, INC.
                            STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                            For the            For the
                                                                         quarter ended      quarter ended
                                                                         March 31, 2003     March 31, 2002
                                                                          ------------       ------------
<S>                                                                       <C>                <C>
REVENUES                                                                  $    112,733       $    211,427

COST OF EYECATCHER DISPLAY SALES                                                74,660                 --
                                                                          ------------       ------------

GROSS PROFIT                                                                    38,073            211,427

OPERATING EXPENSES
Compensation                                                                   140,323             82,104
Bad debt                                                                        15,408             (3,469)
Consulting fees                                                                111,151             70,850
Depreciation                                                                    43,798             43,367
General and administrative                                                     105,642            277,624
Professional fees                                                               34,621             32,850
Rent expense                                                                    25,047             28,511
Royalties                                                                       24,608             51,175
                                                                          ------------       ------------
TOTAL OPERATING EXPENSES                                                       500,598            504,377
                                                                          ------------       ------------
Loss from Operations                                                          (462,525)          (292,950)
                                                                          ------------       ------------
OTHER INCOME (EXPENSE)
Other income                                                                    11,372                 --
Settlement gain, net                                                            12,379                 --
Interest expense                                                               (45,744)           (29,809)
                                                                          ------------       ------------
TOTAL OTHER EXPENSES, NET                                                      (21,993)           (29,809)
                                                                          ------------       ------------
Loss before cumulative effect of change in accounting principle               (484,518)          (322,759)
Cumulative effect of change in accounting principle                                 --           (565,095)
                                                                          ------------       ------------
NET LOSS                                                                  $   (484,518)      $   (887,854)
                                                                          ============       ============
Basic and Diluted Loss Per Common Share:
     Loss before cumulative effect of change in accounting principle      $      (0.05)      $     (0.036)
     Cumulative effect of change in accounting principle                            --       $     (0.064)
                                                                          ------------       ------------
Net Loss Per Common share-Basic and Diluted                               $      (0.05)      $     (0.100)
                                                                          ============       ============
Weighted average common shares outstanding                                  10,492,891          8,881,047
                                                                          ============       ============
</TABLE>

                 See accompanying notes to financial statements

                                       4
<PAGE>

                    NEW MILLENNIUM MEDIA INTERNATIONAL, INC.
                            STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                         For the          For the
                                                      quarter ended    quarter ended
                                                      March 31, 2003   March 31, 2002
                                                       ------------     ------------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                    <C>              <C>
Net Loss                                               $   (484,518)    $   (887,854)
Adjustments to reconcile net loss to net
  cash used in operating activities:
Cumulative effect of change in accounting principle              --          565,095
Stock and options for services                              107,499          118,107
Stock based settlement gain, net                            (12,379)              --
Expense of option grants to noteholders                      28,000               --
Bad Debt                                                     15,408               --
Depreciation                                                 43,798           43,367
Other non-cash income                                          (354)
(INCREASE) DECREASE IN ASSETS:
Accounts receivable                                         (30,790)         (28,209)
Other receivables                                             2,891               --
Deferred royalty expense                                     25,000               --
INCREASE (DECREASE) IN LIABILITIES:
Notes payable - related party-accrued interest               (3,922)              --
Accounts payable and accrued expenses                        27,537           15,056
Accrued compensation                                         29,730               --
Customer deposits                                           (28,500)              --
Deferred revenues                                            27,168               --
(Increase) decrease in prepaid expenses                          --           30,673
Increase (decrease) in related party payables                    --           48,082
                                                       ------------     ------------
NET CASH USED IN OPERATING ACTIVITIES                      (253,432)         (95,683)
                                                       ------------     ------------
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of boards                                  1,500               --
                                                       ------------     ------------
NET USED IN INVESTING ACTIVITIES                              1,500               --
                                                       ------------     ------------
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from loans payable                                  65,000           55,000
Proceeds from sale of preferred stock                       175,000               --
Proceeds from exercise of common stock options                   --              350
                                                       ------------     ------------
NET CASH PROVIDED BY FINANCING ACTIVITIES                   240,000           55,350
                                                       ------------     ------------
EFFECT OF EXCHANGE RATE CHANGES ON CASH
Net Increase (Decrease) in cash                        $    (11,932)    $    (40,333)
Cash beginning of year                                       16,335           47,239
                                                       ------------     ------------
CASH END OF YEAR                                       $      4,403     $      6,906
                                                       ============     ============

SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING
  AND FINANCING ACTIVITIES:

Preferred shares issued in exchange for loans          $  1,121,655
Common share issued for subscriptions receivable       $      2,500
</TABLE>

                 See accompanying notes to financial statements

                                       5
<PAGE>

                    NEW MILLENNIUM MEDIA INTERNATIONAL, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                 MARCH 31, 2003
                                 --------------
                                   (UNAUDITED)
                                   -----------

NOTE 1 BASIS OF PRESENTATION AND RECENT ACCOUNTING PRONOUNCEMENTS
-----------------------------------------------------------------

The accompanying unaudited financial statements have been prepared in accordance
with accounting  principles  generally  accepted in the United States of America
and the rules and  regulations  of the United  States  Securities  and  Exchange
Commission for interim consolidated financial information.  Accordingly, they do
not include all the  information  and footnotes  necessary  for a  comprehensive
presentation of financial  position and results of operations and should be read
in conjunction  with the Company's  Annual Report Form 10-KSB for the year ended
December 31, 2002.

It is management's opinion,  however, that all material adjustments  (consisting
of normal recurring  adjustments)  have been made which are necessary for a fair
financial  statement  presentation.  The results for the interim  period are not
necessarily indicative of the results to be expected for the year.

Certain  amounts in the 2002  financial  statements  have been  reclassified  to
conform with the 2003 presentation.

In  November  2002,  the FASB issued FASB  Interpretation  No. 45,  "Guarantor's
Accounting  and  Disclosure  Requirements  for  Guarantees,  Including  Indirect
Guarantees  of  Indebtedness  of Others"  (FIN 45).  FIN 45  requires  that upon
issuance of a guarantee,  a guarantor  must  recognize a liability  for the fair
value  of an  obligation  assumed  under  a  guarantee.  FIN  45  also  requires
additional  disclosures  by a  guarantor  in its  interim  and annual  financial
statements  about  the  obligations   associated  with  guarantees  issued.  The
recognition  provisions  of FIN 45 are effective  for any  guarantees  issued or
modified after December 31, 2002. The disclosure  requirements are effective for
financial  statements  of interim or annual  periods  ending after  December 15,
2002. . The adoption of this  pronouncement  does not have a material  effect on
the earnings or financial position of the Company.

In  January   2003,   the  FASB  issued   Interpretation   No.  46  ("FIN  46"),
"Consolidation of Variable Interest Entities.: FIN 46 requires that if an entity
has a controlling  financial interest in a variable interest entity, the assets,
liabilities and results of activities of the variable  interest entity should be
included in the consolidated financial statements of the entity. FIN 46 requires
that its provisions are effective  immediately for all arrangements entered into
after January 31, 2003. The Company does not have any variable interest entities
created after  January 31, 2003.  For those  arrangements  entered into prior to
January  31,  2003,  the FIN 46  provisions  are  required  to be adopted at the
beginning of the first interim or annual period  beginning  after June 15, 2003.
The Company has not identified any variable  interest  entities to date and will
continue to evaluate whether it has variable  interest entities that will have a
significant impact on its consolidated balance sheet and results of operations.

NOTE 2 NOTES PAYABLE AND REDEEMABLE PREFERRED STOCK
---------------------------------------------------

The company  borrowed  $65,000  from 3  individuals  during the quarter of which
$50,000 was converted to stock in January 2003. (See Note 3)

In January  2003 certain note holders  converted  their  $1,021,655  of loans to
Series A convertible  preferred stock. For financial  accounting  purposes,  the
preferred shares were valued at $1.00 per share based on the common stock quoted
trading  price  of  $0.20  per  share  of the  conversion  date  and the 4 for 1
conversion ratio of the preferred stock to common stock. Accordingly, no gain or
loss on conversion of the loans was  recognized  except for an $882 loss from an
overissuance which was not refunded since it was not material. The conversion is
contingent  on  the  Company  raising  $1,000,000  by  the  sale  of  Series  A,
Convertible  Preferred Stock by May 15, 2003. If the Company does not raise such
funds,  the creditors may cancel the  conversion  agreement at any time prior to
September  25,  2003  by  written  notice  to the  Company.  Accordingly,  these
preferred shares are considered redeemable at the holders' option and classified
as a contingency  between  liabilities  and equity in the  accompanying  balance
sheet at March 31, 2003.

NOTE 3 COMMITMENTS
------------------

The  Company  executed a six-month  consulting  agreement  on February  17, 2003
whereby the  consultant  will provide  public  relations  services.  The Company
agreed to issue 100,000 free trading shares under their ESOP, 100,000 restricted
shares,  and warrants to purchase  150,000  common shares (50,000 at an exercise
price of $0.50;  50,000 at $0.75 and 50,000 at  $1.00).  which vest 1/3 every 30
days. The resulting estimated expense will be recognized over the contract term.
(see Notes 5 and 6)

The  Company  executed a one-year  consulting  agreement  on  February  28, 2003
whereby the consultant will provide management and financial consulting services
to the Company.  The consultant was granted 30,000 common shares as compensation
which were issued immediately. The resulting expense will be recognized over the
contract term. (see Note 5)

NOTE 4 PREFERRED STOCK ISSUANCES
--------------------------------

In January 2003,  the Company  granted  100,000  Series A convertible  preferred
shares in exchange for $100,000 of loans. 50,000 shares were valued at $1.00 per
share based on the quoted  trading  price of the common stock on January 6, 2003
and the 4-for-1 conversion ratio for the preferred shares which were immediately
convertible,  50,000  shares  were valued at $0.80 per share based on the quoted
trading price of the common stock on January 23, 2003 and the 4-for-1 conversion
ratio for the preferred shares which were immediately convertible.  Accordingly,
the Company recorded a settlement gain of $10,000.

                                       6
<PAGE>

                    NEW MILLENNIUM MEDIA INTERNATIONAL, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                 MARCH 31, 2003
                                 --------------
                                   (UNAUDITED)
                                   -----------

During the quarter  ended March 31,  2003,  the Company  sold Series A preferred
shares for cash.  In January,  the Company sold 50,000  preferred  shares to one
investor for $50,000. In February,  the Company sold 75,000 preferred shares for
two  investors  for  $75,000.  In March 2003 the Company  sold 25,000  preferred
shares to one  investor  for $25,000.  The latter  25,000  shares were issued in
April 2003.

NOTE 5 COMMON STOCK ISSUANCES
-----------------------------

On January 1, 2003 the Company  issued  77,640  shares to an employee  under his
employment agreement,  requiring $25,000 worth of stock using the 30-day average
price prior to fiscal 2002  year-end.  For financial  accounting  purposes,  the
stock was valued on the earned date of December 31, 2002 resulting in a value of
$21,739  and  a  settlement   gain  of  $3,261  in  January  2003.  The  $25,000
compensation expense had been expensed and accrued in December 2002.

During the quarter  ended March 31,  2003,  the Company  issued  100,000  common
shares pursuant to exercises of options granted under the default  provisions of
certain  promissory notes. The issuance resulted in subscriptions  receivable of
$2,500 for an exercise price of $.025 per share. Total subscriptions  receivable
related to exercised  options  under  default  provisions  of  promissory  notes
through March 31, 2003 were $12,575 at March 31, 2003.

During the quarter  ending March 31, 2003, the Company issued 293,700 shares for
services rendered to various non-employee  consultants and service providers. On
January 6, 2003,  23,700 shares were issued for services  rendered and valued at
the $0.25 per share  quoted  trading  price on the  grant  date  resulting  in a
consulting  expense of $5,925. On February 18, 2003,  200,000 shares were issued
under a February 17, 2003 six-month consulting agreement. The shares were valued
at the quoted trading price of $0.23 on the grant date which was the measurement
date  since the  shares  were  contractually  fully  vested  at the grant  date.
Accordingly, the Company recognized an expense through March 31, 2003 of $10,674
and a deferred  expense of $35,326 at March 31,  2003.  On  February  21,  2003,
40,000  shares were issued for services  rendered and valued at the $0.37 quoted
trading price on the grant date resulting in a consulting expense of $14,800. On
March 4, 2003,  30,000  shares were issued to a consultant  under a February 28,
2003 one-year consulting  agreement.  The shares were valued at the $0.25 quoted
trading price on the grant date which was the measurement  date since the shares
were considered fully vested at the grant date. Accordingly,  an expense through
March 31,  2003 of $625 was  recognized  and a  deferred  expense  of $6,875 was
recorded at March 31, 2003.

NOTE 6 WARRANT AND OPTIONS GRANTS
---------------------------------

On January 2, 2003 the Company  granted 62,500 5-year  warrants with an exercise
price of $0.25 per share to its Scientific Advisory Board members.  The warrants
were valued at $0.28 per warrant or an aggregate $17,432 for these non-employees
using the  Black-Scholes  Options Pricing Model with the following  assumptions;
expected  life of 5 years,  volatility of 253%,  zero  expected  dividends and a
discount  rate of 3.05%.  Based on the members  service  term of three years the
Company  recognized  an expense  through  March 31,  2003 of $841 and a deferred
consulting expense of $16,591 at March 31, 2003.

On January 6, 2003 the Company  granted to an employee  5,000  warrants  with an
exercise  price based on the 5-day  average  prior to the date of  exercise  and
expiring  January  6,  2006.  These  variable  warrants  were  valued  under the
intrinsic  value  method of APB 25 at the  balance  sheet date of March 31, 2003
resulting in a value of $0.10 per warrants or a total $500.

                                       7
<PAGE>

                    NEW MILLENNIUM MEDIA INTERNATIONAL, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                 MARCH 31, 2003
                                 --------------
                                   (UNAUDITED)
                                   -----------

On February 18, 2003 the Company granted 150,000 warrants (50,000 at an exercise
price of $0.50;  50,000 at $0.75 and 50,000 at $1.00) expiring April 20, 2004 to
a consultant  for a service  period  through  August 17, 2003. The warrants were
valued at $0.0065,  $0.0039 and $0.1253 respectively per warrant or an aggregate
$6,785  using  the  Black-Scholes  Options  Pricing  Model  with  the  following
assumptions;  expected life of 30 to 428 days,  volatility of 161% to 214%, zero
expected dividends and a discount rate of 1.2% to 1.3%. Accordingly, the Company
recorded a  consulting  expense of $1,056  through  March 31, 2003 and  deferred
consulting of $5,729 at March 31, 2003. (see Note 3)

Had compensation cost for the Company's options and warrants granted to employee
been determined  using the fair value method of SFAS 123, the Company's net loss
for the  period  indicated  would have been  changed to the pro forma  amount as
follows:

                                            Three Months
                                           Ended March 31,
                                                2003
                                            ------------

Net loss, as reported                       $   (484,518)

Add: Stock-based employee compensation
expense included in net income, net of
related tax effects                                  500

Deduct: Total stock-based employee
compensation expense determined under
fair value based method, net of
related tax effects                               (1,356)
                                            ------------

Pro forma net loss                          $   (485,374)
                                            ============

Earnings per share:
Basic and diluted - as reported             $      (0.05)
                                            ============
Basic and diluted -pro forma                $      (0.05)
                                            ============

NOTE 8 GOING CONCERN
--------------------

As reflected in the  accompanying  financial  statements,  the Company has a net
loss of $484,518  and cash used in  operations  of $253,432 in the three  months
ended  March 31,  2003 and an  accumulated  deficit,  stockholders'  deficit and
working capital deficit of $7,400,344, $1,945,354 and $2,015,547,  respectively,
at March 31, 2003.  The ability of the Company to continue as a going concern is
dependent  on  the  Company's  ability  to  further  generate  sales  and  raise
additional capital.

The Company is working  towards  re-filing  its Form SB-2 with the United States
Securities  and Exchange  Commission  in order for it to become  effective.  The
Swartz  $25,000,000  equity line should then become available for the Company to
obtain the necessary funding to expand its operations.

                                       8
<PAGE>

                    NEW MILLENNIUM MEDIA INTERNATIONAL, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                 MARCH 31, 2003
                                 --------------
                                   (UNAUDITED)
                                   -----------

NOTE 9 SUBSEQUENT EVENTS
------------------------

In April 2003 the Company issued 175,000 Series A preferred  shares for $175,000
cash , 22,500  Series A  preferred  shares  for  consulting  and 5,000  series A
preferred shares for a $5,000 note conversion.

                                       9
<PAGE>

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

GENERAL
Management's   discussion  and  analysis   contains   various  "forward  looking
statements." Such statements consist of any statement other than a recitation of
historical fact and can be identified by the use of forward-looking  terminology
such as "may,"  "expect,"  "anticipate,"  "estimate,"  or  "continue"  or use of
negative or other variations or comparable terminology.

We caution that these statements are further qualified by important factors that
could cause  actual  results to differ  materially  from those  contained in the
forward-looking   statements,   that  these   forward-looking   statements   are
necessarily  speculative,  and there are certain  risks and  uncertainties  that
could cause actual events or results to differ materially from those referred to
in such forward-looking statements.

OVERVIEW
New Millennium Media International,  Inc. (NMMI) is engaged in activities in the
advertising  business.  The primary activity of the Company  currently  involves
several types of visual advertising: The IllumiSign-EyeCatcher  front-lit motion
display boards, the IllumiSign-EyeCatcher back-lit motion display boards, plasma
screens and LED display boards.  NMMI sells  advertising  space on these display
boards on a contractual yearly basis,  payable monthly or in the case of the LED
boards,  on an event  basis.  In certain  instances we sell and continue to sell
motion display boards. The criteria that determines the sale rather than leasing
the displays is two fold: (i) sales in foreign  countries  where recovery of the
displays in the event of  non-payment  would be a major  expense and recovery of
the display  economically  impractical  and,  (ii) sales to  customers  in large
quantity  where leasing the displays is determined to be nearly  impossible  and
the customer  retains the displays for its own benefit and the customer  intends
to place the displays in non-competition with the business model of the Company.
The Company is continuing to devote  substantially all of its present efforts to
implementing  its  operational  and  marketing  plans  designed to establish new
business accounts for its mobile LED boards and the motion display boards.

On July 23, 2001, NMMI signed an exclusive licensing agreement with the inventor
of a new  technology  that  allows the  manufacture  of  large-scale  LED (light
emitting   diode)  video  displays  with  dramatic   improvements  in  cost  and
performance  (hereafter referred to as "OnScreen").  Under this agreement,  NMMI
will  continue  to  participate  in the  research  and  development  of this new
technology  and will have the exclusive  worldwide  marketing  rights to sell or
license the technology.  A working  prototype model for this technology has been
completed  and  successful  and the  development  team  has  decided  to  pursue
fabrication  of a  larger,  true-to-scale,  prototype  of the  OnScreen  display
technology.  In further  support of ongoing  research  and  development  of this
innovative  technology,  NMMI  formed  an  OnScreen  Scientific  Advisory  Board
consisting of six nationally  recognized scientific  technologic  individuals in
the field of science  and  technology  headed by David  Pelka,  all of whom have
earned  at least one  Doctor of  Philosophy  degree in a  scientific  discipline
relating to LED.

NMMI continues to incur significant  losses from operations.  We incurred losses
from  operations  of $462,525 for the quarter  ended March 31, 2003  compared to
$292,950 for the same term of 2002 a loss increase of $169,575.  As of March 31,
2003, we had an accumulated deficit of $7,400,344.

                                       10
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CRITICAL ACCOUNTING POLICIES
Our financial  statements  and related  financial  information  are based on the
application  of accounting  principles  generally  accepted in the United States
(GAAP). The preparation of financial  statements under GAAP requires  management
to make estimates and assumptions that affect the reported amount of revenue and
expenses  during the  periods.  We believe our use of estimates  and  underlying
accounting  assumptions  adhere to GAAP and are consistently and  conservatively
applied.  Estimates have been made by management in several areas including, but
not limited,  to accounts  receivable  allowances,  valuation of long-lived  and
intangible assets including goodwill.  We have based our estimates on historical
experience  and on various  other  assumptions  that we believe to be reasonable
under  the   circumstances   and  review   valuations  based  on  estimates  for
reasonableness and conservatism on a consistent basis. Actual results may differ
materially from these estimates under different assumptions or conditions.

LIQUIDITY AND CAPITAL RESOURCES
Since  inception,  we have funded our  operations  and  investments in equipment
primarily  through equity financings and borrowing from related parties that are
not necessarily isolated transactions; however, there is no assurance that there
will be proceeds from such transactions in the future.

MATERIAL CHANGES IN FINANCIAL CONDITION
As shown on the attached  Balance  Sheet,  the Property  and  Equipment  net has
decreased  only  slightly,  4%,  during the first  three  months  period of 2003
compared to December 31, 2002 due to depreciation  expense;  however,  the Total
Assets shows a decrease of $69,739,  6% for the same period comparison.  This is
primarily because of the $$45,298 Property and Equipment  decrease from December
31,  2002 to March 31,  2003 and the  Deferred  Royalty  Expense  decrease  from
$75,000 for December 31, 2002 to $50,000 as of March 31, 2003. The Total Current
Assets,  Cash and  Receivables,  increased by $559 for the first three months of
2003. The Total Current  Liabilities  decreased by $1,004,114 during these three
nine months of 2003, a decrease of 33%.  This is  principally  the result of the
decrease of Notes and Loans  Payable (a decrease of $715,916)  and Related Party
Notes  Payable (a decrease of  $303,657).  The majority of these  payables  were
converted  to  Company  equity  that is  noted  as  Redeemable  Preferred  Stock
(1,021,655  shares  valued at $1.00 per  share) on the  Company  Balance  Sheet.
Additional  Paid in Capital  increased  8%  ($427,783),  from  $5,101,664  as of
December 31, 2002 to $5,529,447 at March 31, 2003. Accumulated Deficit increased
$484,518 for the first three months of 2003.  The money  received by the Company
that gave rise to these increases of Paid in Capital and Accumulated Deficit was
used to fund the ongoing  operations  of the Company  and royalty  expense.  The
Total  Stockholders'  Deficiency  increased by 5% ($87,280),  from $1,858,074 at
December 31,, 2002 to $1,945,354 at March 31,2003.

RESULTS OF OPERATIONS
Revenue
The  comparative  revenue  for the first  quarter of 2003  compared  to the same
period for 2002 shows a decrease of $98,694, 47%. This decrease is due primarily
to increased competition relating to the mobile LED truck rental. The noticeable
competition has caused us to lower our rental rate to remain  competitive  while
spending more resources to promote the mobile LED unit.

                                       11
<PAGE>

Cost of EyeCatcherPlus  Display Sales.  Cost of EyeCatcherPlus  display sales of
$74,660  related  to a  $57,000  sale of  EyeCatcherPlus  displays  included  in
revenues for the three months ended March 31, 2003.  Many of the  EyeCatcherPlus
displays  were  sold  at a loss as part  of a  negotiated  distributor  contract
wherein the distributor  paid an offsetting  distributor fee sufficient to cover
the loss.

The net result is an 82%  decrease in Gross  Profit from  $211,427 for the first
three  months of 2002 to $38,073  for the same  period of 2003.  Notwithstanding
this decrease,  the Company  continues to lease the motion  displays and to sell
the displays on a limited basis, see the section captioned "Overview" above. The
Graphic Arts  Department  continues  to be a revenue  source for the Company for
both the leased and sold  motion  displays.  The  Company  retains the rights to
print the display  posters for the motion  displays  whether  they are leased or
sold.  As  the  Company   installs   additional   display   boards,   additional
advertisements are sold.  Generally,  this is cumulative,  i. e., as the display
boards are placed,  the  advertisements are sold for a term of several months or
yearly. Even though the advertisement  contracts expire, many are renewed with a
minimal amount of sales effort so long as the display board continues to produce
revenue with no additional  effort. No additional effort is generally  necessary
to place the display board because it remains in place at the host venue.

Operating Expenses
There was an increase of 71% of  Compensation  Expense for the first  quarter of
2003 compared to the same period of 2002, from $82,104 to $140,323. This $58,219
increase  is  the  result  of  including  compensation  under  a new  employment
agreement  with  the  Director  of  Operations  who  was  previously  paid  as a
consultant which fees were previously included under consulting fees.

Consulting  Fees  increased  from  $70,850 to  $111,151,  an increase of $40,301
comparing the first quarter periods. This additional expense relates principally
to consulting  services outside the Company relating to the OnScreen project and
amortization of approximately  $35,000 of consulting fees which were deferred at
December 31, 2002 and relate to warrants issued to consultants in mid 2002.

Bad Debt  increased by $18,877 from  $(3,469) to $15,408 for these first quarter
comparisons.  This amount  represents  uncollectable  rent from an office  space
rental tenant.  The prior year credit of $3,469 results from recovery of certain
bad debt recorded prior to that quarter.

The  Depreciation  expense  increased  approximately 1% to $43,798 for the first
quarter of 2003.  This  depreciation  expense  reflects the  depreciation of the
Company owned equipment.

There was a decrease in the General and Administrative expenses of $171,982, 62%
for the first quarter  comparison of 2003 and 2002.  This decrease from $277,624
to  $105,642  takes into  account a net  reduction  in such  expenses as general
office expenses and supplies,  commissions paid for advertising sales, telephone
and  cell  phone,  Internet  service,  office  utilities,  insurances,  business
promotion, travel and lodging, and EyeCatcherPlus display maintenance/repairs.

                                       12
<PAGE>

Professional  Fees increased by 5% for the first quarter of 2003 compared to the
same  period of 2002,  from  $32,850 to  $34,621.  This  expense is  principally
accounting and legal fees for the day to day operation of the Company.

Rent Expense  decreased by 12%,  from $28,511 to $25,047,  for the first quarter
comparison of 2002 to 2003.  This expense is the rent and rent related  expenses
for the Company offices and warehouse space.

Royalties  decreased  from $51,175 for the first  quarter of 2002 to $24,608 for
the first  quarter of 2003,  52%  decrease.  The  Royalty  expense is money paid
pursuant to a contract  between the  Company  and the  inventor of the  OnScreen
technology. This contract provides for periodic quarterly payments that are made
by the  Company  out of  operating  capital  or by  borrowing  money  from third
parties.

These  aggregate of these expenses yield a Total  Operating  Expense of $500,598
for the first three months of 2003  compared to $504,377,  a decrease of $3,377.
In the opinion of management this 1% decrease in Total Operating  Expenses shows
that the Company is beginning to  stabilize.  Although the Company  continues to
grow, the current  staffing of the Company is expected to be sufficient to carry
the  Company  through  its growth  during  the next six to twelve  months at the
present rate of growth.

Loss From Operations
Loss from  Operations  is a  function  of Gross  Profit  minus  Total  Operating
Expenses.  This  loss  increased  $169,575  for the first  three  months of 2003
compared  to the same  period of 2002.  Although  the Total  Operating  Expenses
decreased  slightly,  $3,779, the Gross Profit decrease of $173,354 is the major
factor that causes the net operational loss.

Other Income (Expense)
The Total  Other  Expenses,  Net shows a decrease  of $7,816 for the first three
months of 2003  compared to 2002. A  significant  amount of this decrease is the
$45,744 interest expense  resulting from loan balances  (approximately  $12,000)
and current stock options  ($28,000).  The Settlement Gain, Net is the result of
settlement  gains  resulting from debt to stock  conversions.  The $11,372 Other
Income is the amount  received as rent from two office space  rentals.  When the
Company  relocated it offices,  it contracted for space additional to that which
it  immediately  intended to occupy in  anticipation  to growing  into the total
space.  In the interim,  the Company  rents the  additional  office  space.  The
Settlement  gain, Net is discussed in Notes 4 and 5, Preferred  Stock  Issuances
and Common Stock Issuances in the Notes to the Financial  Statements,  March 31,
2003  attached  hereto.  This  calculation  is a net figure that also takes into
consideration $882 of miscellaneous offset.

Loss Before Cumulative Effect of Change in Accounting Principle
This loss  increased  50%,  $161,759 for the first quarter  comparison for years
2003 and 2002. This operational loss is a function of the Operating Expenses and
Other  Expenses and is principally  the result of the continuing  Company growth
which requires  additional  display boards and equipment as well as the in-house
personnel necessary to provide operational support.

Cumulative Effect of Change in Accounting Principle
For a  detailed  explanation  of  Cumulative  Effect  of  Change  in  Accounting
Principle please see Note 3, Effect of Recent Accounting Pronouncements,  in the
Notes to the  Condensed  Financial  Statements  March 31, 2002  attached to Form
8-KSB filed May 20, 2002.

                                       13
<PAGE>

Basic and Fully Diluted Loss Per Common Share
The Basic Loss Per Common Share before cumulative effect of change in accounting
principle  for the first  quarter of 2003  compared to the same  quarter of 2002
increased  from $(0.036) to $(0.05),  a comparative  Basic Loss Per Common Share
increase of  approximately  39%.  This  increase  in loss per common  share is a
function  of the  increase  in the net loss  offset by the  increase in weighted
average shares.  We are continuing to concentrate on  establishing  new business
and increasing sales relating to the IllumiSign  EyeCatcher backlit and frontlit
display board and the LED display sign truck.

Net Loss and Weighted Average Common Shares Outstanding
When taking into  consideration  the  Cumulative  Effect of Change in Accounting
Principle, the Net Loss Per Common Share-Basic and Diluted has decreased by 50%,
from (0.100) to (0.05) for the 2003 and 2002 first  quarters.  This three months
decrease is due primarily to the change in accounting  principle as noted above.
The Weighted Average Common Shares Outstanding increased by 1,611,844 shares for
the  comparison of the first  quarters of 2003 to 2002.  This is an 18% increase
for this period.

TRENDS AND EVENTS
Over the past  approximately  twelve  months  we have been  engaged  in a slight
change  in our  operations  model  primarily  in  that we  have  agreed  to sell
IllumiSign-EyeCatcher  motion displays in limited circumstances.  This change in
Company policy is described above in the section entitled "Overview". Management
feels that this is a positive change in that the Company now has the opportunity
to earn additional revenue in foreign countries as well as certain United States
based advertising entities that otherwise would purchase from competitors of the
Company or not use motion  displays  at all.  Thus far,  all  purchasers  of the
displays  have  agreed  to  purchase  all of the  advertising  posters  from the
Company.  This sale of  in-house  printed  posters  is an  additional  source of
Company revenue.

Although  the  OnScreen  technology  is  still  in  development,   the  OnScreen
Scientific  Advisory Board advises Company  management that it feels  optimistic
that the second  prototype  will be  complete by the end of Summer 2003 and upon
completion   this  prototype  could  produce   commercial   interest  among  LED
manufacturers.

Although  forward  looking with no real assurance that the future will unfold as
anticipated  by  management,  the Company  management  certainly  feels that the
current trend of the Company is toward an increased number of motion displays in
place and a  continuing  increase in the number of  bookings  for the mobile LED
unit. In the opinion of management,  the cumulative  effect of these events is a
positive trend. Thus far the Company has continued to grow at a slow, but steady
pace,  there is,  however,  no real  assurance  that this  positive  trend  will
continue.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Registrant is a Small business  issuer as defined by these  Regulations and need
not provide the information required by this Item 3.

                           PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.
The Company is presently  negotiating the settlement of an ongoing litigation in
Great Britain with the  individual  patent owner who licenses to the Company the
current

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manufacture  and  sale of the  front-lit  IllumiSign  EyeCatcher  display.  This
litigation   is  described   as  Maurice   Grosse  and  New   Millennium   Media
International,  Inc.,  Claim  Number  HQ02X01340  in the High Court of  Justice,
Queen's Bench Division. These settlement negotiations are progressing and should
be concluded in the next few months.  This  litigation was initiated as a result
of the Company deciding to phase out  distribution of the  IllumiSign-EyeCatcher
front-lit displays in deference to the more modern backlit displays.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS.

COMMON STOCK TRANSFERRED
The company  relied on Section 4(2) of the  Securities  Act of 1933 as the basis
for  an  exemption  from  registration  regarding  the  following  transfers  to
accredited investors because they did not involve a public offering.

During  February 2003 the Company  issued  100,000 common shares to an unrelated
entity  pursuant  to  a  consulting   agreement;   40,000  common  shares  to  a
non-employee  for contract labor; and 50,000 common shares pursuant to exercises
of options granted under the default provisions of certain promissory notes.

During  March 2003 the  Company  issued  23,700  common  shares  pursuant  to an
agreement relating to the purchase of LED panels installed on the Company mobile
LED unit; 30,000 common shares as payment for non-employee  consulting  services
relating  to  financial  and  business  development;  and 50,000  common  shares
pursuant to exercises of options granted under the default provisions of certain
promissory notes.

USE OF PROCEEDS
The proceeds from these  transactions  (Common Stock  Transferred) were used for
working capital and general corporate purposes, including acquisitions,  funding
anticipated  operating  losses,  sales  and  marketing  expenses,   purchase  of
additional  inventory,  working  capital,  new product  development  and to fund
payment  obligations  for  contemplated   acquisitions,   corporate   partnering
arrangements  and  lawsuit  settlement.  We reserve the right to vary the use of
proceeds  among these  categories  because  our  ability to use the  proceeds is
dependent on a number of factors,  including the extent of market  acceptance of
our variety of display boards,  unexpected  expenditures  for further  technical
development, sales and marketing efforts and the effects of competition.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None

ITEM 5. OTHER INFORMATION.

On March 19, 2002 the Company  filed an amended Form  10-KSB/A for year-end 2001
and filed a second  amended Post Effective  Amendment to Form SB-2  Registration
Statement for Small Business  Issuers the original of which was filed  September
13, 2000. On April 22, 2002 the Securities and Exchange Commission  commented on
the second  amended Post  Effective  Amendment.  A third amended Post  Effective
Amendment to Form SB-2  Registration  Statement  for Small  Business  Issuers is
currently in process.

                                       15
<PAGE>

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

(a)  Exhibits

Exhibit
Number                              Description

3.1    *Amended  Articles  of  Incorporation  of the  Company  (Incorporated  by
       reference from our  registration  statement on Form SB-2/A filed with the
       commission on October 26, 2001.

3.2    *Bylaws of the Company  (Incorporated  by reference from our registration
       statement on Form SB-2/A filed with the commission on October 26, 2001.

13.1   * Form 10-KSB filed April 15, 2003 for year end December 31, 2002.

13.2   * Form 10-KSB/A filed April 17, 2003 for year end December 31, 2001.

99.1   CEO/CFO  Certification  Pursuant to Section 906 of the Sarbanes-Oxley Act
       of 2002.

* Incorporated herein by reference as indicated.

(b) Reports on Form 8-K

The Company  filed a Form 8-K on  February 4, 2003 giving  notice of a change in
Company independent  auditors from Richard J. Fuller,  C.P.A., P.A. to Salberg &
Company,  P.A. This change was approved by the Board of Directors on February 3,
2003

                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

Signed and submitted this 15th day of May 2003.


                                       New Millennium Media International, Inc.
                                                     (Registrant)

                                       by: /s/__________________________________
                                           John Thatch as President/CEO/Director

                                       16
<PAGE>

                                  EXHIBIT INDEX

Exhibit
Number                              Description

3.1    * Amended  Articles  of  Incorporation  of the Company  (Incorporated  by
       reference from our  registration  statement on Form SB-2/A filed with the
       commission on October 26, 2001.

3.2    * Bylaws of the Company  (Incorporated by reference from our registration
       statement on Form SB-2/A filed with the commission on October 26, 2001.

13.1   * Form 10-KSB filed April 15, 2003 for year end December 31, 2002.

13.2   * Form 10-KSB/A filed April 17, 2003 for year end December 31, 2001.

16     Form 8-K filed  February  4, 2003  giving  notice of a change in  Company
       independent  auditors from Richard J. Fuller,  C.P.A.,  P.A. to Salberg &
       Company, P.A, incorporated herein by reference.

99.1   CEO/CFO  Certification  Pursuant to Section 906 of the Sarbanes-Oxley Act
       of 2002.

* Incorporated herein by reference as indicated.

(b)  Reports on Form 8-K

The Company  filed a Form 8-K on  February 4, 2003 giving  notice of a change in
Company independent  auditors from Richard J. Fuller,  C.P.A., P.A. to Salberg &
Company,  P.A. This change was approved by the Board of Directors on February 3,
2003

                                       17
<PAGE>

                                 CERTIFICATIONS

I, John "JT"  Thatch,  as  CEO/President/Director/acting  CFO of New  Millennium
Media International, Inc., certify that:

1. I have reviewed this quarterly  report on Form 10-Q of New  Millennium  Media
International, 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;

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;

4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a) Designed such disclosure controls and procedures to ensure that material
     information   relating  to  the  registrant,   including  its  consolidated
     subsidiaries,  is  made  known  to  us by  others  within  those  entities,
     particularly  during  the period in which  this  quarterly  report is being
     prepared;

     b) Evaluated the effectiveness of the registrant's  disclosure controls and
     procedures  as of a date  within 90 days prior to the  filing  date of this
     quarterly report (the "Evaluation Date"); and

     c)  Presented  in  this  quarterly   report  our   conclusions   about  the
     effectiveness  of the  disclosure  controls  and  procedures  based  on our
     evaluation as of the Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation,  to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent function):

     a) All  significant  deficiencies  in the design or  operation  of internal
     controls which could adversely affect the  registrant's  ability to record,
     process,  summarize and report  financial data and have  identified for the
     registrant's auditors any material weaknesses in internal controls; and

     b) Any fraud,  whether or not material,  that involves  management or other
     employees  who  have  a  significant  role  in  the  registrant's  internal
     controls; and

6. The  registrant's  other  certifying  officers  and I have  indicated in this
quarterly  report  whether or not there  were  significant  changes in  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: May 15th, 2003               New Millennium Media International, Inc.

                                   By: /s/_____________________________________
                                       John "JT" Thatch
                                       CEO/President/Director/acting CFO

                                       18
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