U.S. SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB
         QUARTERLY REPORT FOR SMALL BUSINESS ISSUERS SUBJECT TO THE 1934
                           ACT REPORTING REQUIREMENTS

        [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
                  EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD
                            ENDED SEPTEMBER 30, 2002

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

     For the transition period from ________________ to ___________________

                        Commission File Number: 000-29983


                        GLOBAL INDUSTRIAL SERVICES, INC.
             (Exact name of registrant as specified in its charter)


       Nevada                                           98-0203485
--------------------------------------------------------------------------------
(State of Incorporation)                    (I.R.S. Employer Identification No.)


                        14th Floor, 609 Granville Street
                         Vancouver, B.C. Canada V6Y 1G5
                    (Address of principal executive offices)

       Registrant's telephone number, including area code: (604) 683-8358

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act  during  the past 12  months  and (2) has been
subject to such filing requirements for the past 90 days. Yes [X]

There are  31,049,960  shares of  common  stock  issued  and  outstanding  as of
November 1, 2002.

                                       1
<PAGE>


                                      INDEX



                                                                      Page
PART I - FINANCIAL INFORMATION

Item 1.   Financial Statements

     Consolidated Balance Sheets......................................  3

     Consolidated Statements of Operations (Unaudited)................  4

     Consolidated Statements of Stockholders' Equity and
     Comprehensive Income (Loss) (Unaudited)..........................  5

     Consolidated Statements of Cash Flows (Unaudited)................  6

     Notes to Financial Statements....................................  7

Item 2. Management's Discussion and Analysis and Plan of Operation.... 21

Item 3. Controls and Procedures....................................... 26


PART II - OTHER INFORMATION

Item 1. Legal Proceedings............................................. 26

Item 2. Changes in Securities......................................... 26

Item 3. Defaults Upon Senior Securities............................... 28

Item 4. Submission of Matters to a Vote of Security Holders........... 28

Item 5. Other Information............................................. 28

Item 6.Exhibits and Reports on Form 8-K............................... 28

Signatures............................................................ 29


                                       2
<PAGE>


                         PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS


GLOBAL INDUSTRIAL SERVICES INC.
Consolidated Balance Sheets
(Expressed in U.S. Dollars)
<table>
<caption>
--------------------------------------------------------------------------------------------------------------
                                                                              December 31,       September 30,
                                                                                      2001                2002
                                                                                 (Audited)         (Unaudited)
--------------------------------------------------------------------------------------------------------------
<S>                                                                                 <C>                <C>
Assets

Current assets:
     Cash and cash equivalents                                             $      391,277       $      162,959
     Accounts receivable (note 16(c))                                             466,982              893,566
     Due from director                                                              4,746               18,758
     Prepaid expenses                                                              22,552                6,638
     Inventories (note 2)                                                         299,000              404,001
--------------------------------------------------------------------------------------------------------------
     Total current assets                                                       1,184,557            1,485,922

Property and equipment (note 3)                                                 3,019,794            3,407,966
Investments (note 4)                                                              100,591                    -
Goodwill (note 5)                                                                  19,743               19,743
Equipment lease deposit                                                            45,500               45,500

--------------------------------------------------------------------------------------------------------------
Total assets                                                               $    4,370,185       $    4,959,131
==============================================================================================================

Liabilities and Stockholders' Equity

Current liabilities:
     Bank indebtedness (note 6)                                            $       75,949       $      114,125
     Accounts payable                                                             646,434              968,204
     Accrued liabilities                                                          129,005              192,239
     Deferred revenue                                                              75,507               95,688
     Payable on acquisition of subsidiaries (note 7)                            1,174,300            1,174,300
     Current portion of long-term debt (note 8)                                   553,528              752,556
     Current portion of obligations under capital leases (note 9)                 201,869              216,853
     Advances from affiliated parties (note 10)                                   346,539              515,817
--------------------------------------------------------------------------------------------------------------
     Total current liabilities                                                  3,203,131            4,029,782

Long-term debt (note 8)                                                           677,013              515,743
Obligations under capital leases (note 9)                                          60,597              452,182
--------------------------------------------------------------------------------------------------------------
                                                                                3,940,741            4,997,707

Stockholders' equity:
     Authorized:
         50,000,000 Common stock at $0.001 par value
     Issued and outstanding:
         30,376,960 Common stock (2001 - 24,971,931)                               19,973               25,378
     Additional paid-in capital                                                 4,672,499            5,620,364
     Accumulated deficit                                                       (4,234,279)          (5,661,197)
     Accumulated other comprehensive loss:
         Cumulative translation adjustment                                        (28,749)             (23,121)
--------------------------------------------------------------------------------------------------------------
     Total stockholders' equity                                                   429,444              (38,576)

Continuing operations (note 1(a))
Commitments and contingencies (note 14)
--------------------------------------------------------------------------------------------------------------
Total liabilities and stockholders' equity                                 $    4,370,185       $    4,959,131
==============================================================================================================
</table>
See accompanying notes to consolidated financial statements.


                                       3
<PAGE>


GLOBAL INDUSTRIAL SERVICES INC.
Consolidated Statements of Operations
(Unaudited)
(Expressed in U.S. Dollars)
<table>
<caption>
--------------------------------------------------------------------------------------------------------------
                                    For the three      For the three          For the nine        For the nine
--------------------------------------------------------------------------------------------------------------
                                     months ended       months ended          months ended        months ended
                                     September 30       September 30          September 30        September 30
                                             2001               2002                  2001                2002
--------------------------------------------------------------------------------------------------------------
<S>                                        <C>                <C>                  <C>                    <C>

Sales:
     Drilling                     $       441,420    $     1,047,450       $    1,999,734       $    1,843,659
     Engineering fees                     511,928            537,873            1,839,303            1,514,213
     ---------------------------------------------------------------------------------------------------------
                                          953,348          1,585,323            3,839,037            3,357,872
Cost of sales:
     Drilling                             451,393            657,387            1,597,385            1,541,551
     Engineering                          370,040            374,529            1,219,321            1,096,892
     ---------------------------------------------------------------------------------------------------------
                                          821,433          1,031,916            2,816,706            2,638,443
Gross margin:
     Drilling                              (9,973)           390,063              402,349              302,108
     Engineering                          141,888            163,344              619,982              417,321
     ---------------------------------------------------------------------------------------------------------
                                          131,915            553,407            1,022,331              719,429
Operating expenses:
     General and administrative           653,157            468,166            4,124,112            1,890,161
     Amortization of goodwill              52,275                  -              149,521                    -
     Depreciation of equipment                  -              1,223                    -                5,553
     ---------------------------------------------------------------------------------------------------------
                                          705,432            469,389            4,273,633            1,895,714

--------------------------------------------------------------------------------------------------------------
Income (loss) before other income
   (expenses)                            (573,517)            84,018           (3,251,302)          (1,176,285)

Other income (expenses):
     Interest on long-term debt           (96,301)          (120,793)            (148,722)            (278,951)
     Interest on payable on
       investment (note 7)                      -            (13,796)                   -              (39,986)
     Write off of investment (note 4)           -                  -                    -             (105,332)
     Interest income                        7,863                 26               35,134                2,682
     Gain on forgiveness of debt                -                  -                    -              112,500
     Other income                               -             17,097                    -               58,454
     ---------------------------------------------------------------------------------------------------------
                                          (88,438)          (117,466)            (113,588)            (250,633)

--------------------------------------------------------------------------------------------------------------
Loss                              $      (661,955)   $       (33,448)      $   (3,364,890)      $   (1,426,918)
==============================================================================================================

Loss per share of common stock:
     Basic and diluted (note 13)  $        (0.03)    $        (0.00)       $        (0.19)      $        (0.05)
==============================================================================================================

Weighted average number of
   shares of common stock:
     Basic and diluted (note 13)       20,473,764         29,457,676           17,669,413           29,128,676
==============================================================================================================
</table>
See accompanying notes to consolidated financial statements.

                                       4
<PAGE>


global industries services inc.
Consolidated Statements of Stockholders' Equity and Comprehensive Income (Loss)
(Unaudited)
(Expressed in U.S. Dollars)

Nine months ended September 30, 2002

<table>
<caption>

                                                                      Additional       Common     Currency                    Total
                                                    Common shares        paid-in        stock  translation  Accumulated shareholder'
                                               Shares         Amount     capitalsubscriptions   adjustment      deficit       equity
------------------------------------------------------------------------------------------------------------------------------------
<S>                                              <C>         <C>          <C>          <C>         <C>           <C>         <C>
Balance, December 31, 2001                  24,971,931       19,973    4,672,499            -  $   (28,749) $(4,234,279) $  429,444
------------------------------------------------------------------------------------------------------------------------------------

Issuance of shares of common stock             966,666          967      135,033            -            -            -     136,000
Stock compensation components of
   comprehensive loss:
Issuance of shares of common stock
   for services                              3,177,000        3,177      637,593            -            -            -     640,770
Issuance of shares of common stock
   in settlement of payables                 1,261,363        1,261      175,239            -            -            -     176,500
Components of comprehensive loss:
   Loss                                              -            -            -            -            -   (1,426,918) (1,426,918)
   Foreign currency translation adjustment           -            -            -            -        5,628            -       5,628
                                            (1,421,290)
------------------------------------------------------------------------------------------------------------------------------------
Balance, September 30, 2002                 30,376,960  $    25,378  $ 5,620,364  $         -  $   (23,121) $(5,661,197) $  (38,576)
====================================================================================================================================


</table>

See accompanying notes to consolidated financial statements.


                                       5
<PAGE>

GLOBAL INDUSTRIAL SERVICES INC.
Consolidated Statements of Cash Flows
(Unaudited)
(Expressed in U.S. Dollars)
<table>
<caption>
--------------------------------------------------------------------------------------------------------------
                                                                              For the nine        For the nine
                                                                              months ended        months ended
                                                                              September 30        September 30
                                                                                      2001                2002
--------------------------------------------------------------------------------------------------------------

                                                                                 <C>                 <C>

Cash flows from operating activities:
     Loss                                                                  $   (3,364,890)      $   (1,426,918)
     Items not involving cash:
         Depreciation and amortization                                            302,714              225,891
         Bad debt expense                                                          75,531                5,866
         Non-cash interest                                                            313               69,506
         Stock-based compensation                                               2,293,950              640,770
         Debenture discount amortization                                           25,000                    -
         Write off of property and equipment                                        8,000                    -
         Write off of investment                                                        -              105,332
     Changes in operating assets and
       liabilities (note 16(a))                                                   777,977               46,136
     ---------------------------------------------------------------------------------------------------------
     Net cash provided by (used in) operating activities                          118,595             (333,417)

Cash flows from investing activities:
     Additions to property and equipment, net                                      (5,381)            (168,804)

     ---------------------------------------------------------------------------------------------------------
     Net cash used in investing activities                                         (5,381)            (168,804)

Cash flows from financing activities:
     Increase (Decrease) in bank indebtedness                                     (21,018)              38,176
     Proceeds from issuance of shares of
       common stock                                                               125,000              136,000
     Repayment of long-term debt                                                 (258,204)            (716,748)
     Proceeds from long-term debt                                                 163,400              685,000
     Repayment of capital leases                                                        -              (43,431)
     Advances from affiliated party                                               254,071              169,278
     Decrease in payable on acquisition of subsidiaries                          (140,000)                   -
--------------------------------------------------------------------------------------------------------------
     Net cash provided by financing activities                                    123,249              268,275

Effect of changes in foreign exchange rates
   on cash balances                                                               (16,212)               5,628

--------------------------------------------------------------------------------------------------------------
Increase (decrease) in cash and cash equivalents                                  220,251             (228,318)

Cash and cash equivalents, beginning of period                                    119,376              391,277

--------------------------------------------------------------------------------------------------------------
Cash and cash equivalents, end of period                                   $      339,627       $      162,959
==============================================================================================================
</table>
See accompanying notes to consolidated financial statements.


                                       6
<PAGE>


GLOBAL INDUSTRIAL SERVICES INC.
Notes to Consolidated Financial Statements
(Unaudited)
(Expressed in U.S. Dollars)

September 30, 2002 and 2001

--------------------------------------------------------------------------------


Global Industrial  Services Inc. (the "Company") was incorporated under the laws
of the State of Nevada on July 24, 1998. On March 30, 2000, the Company  changed
its name from Charger  Ventures,  Inc. to Global  Industrial  Services  Inc. The
Company,  through its subsidiary  Stothert Group,  Inc.,  provides  engineering,
construction  and  project  management   services  and  provides,   through  its
subsidiary AK Drilling, Inc., mineral and water drilling services.

1. Accounting policies:

     (a)  Basis of presentation:

          The  information   included  in  the  accompanying  interim  financial
          statements  is unaudited  and should be read in  conjunction  with the
          annual audited financial statements and notes thereto contained in the
          Company's  Annual  Report on Form  10-KSB  for the  fiscal  year ended
          December  31, 2001.  In the opinion of  management,  all  adjustments,
          consisting only of normal  recurring  adjustments,  necessary for fair
          presentation  of the results of  operations  for the  interim  periods
          presented  have been reflected  herein.  The results of operations for
          the interim periods  presented are not  necessarily  indicative of the
          results to be  expected  for the entire  fiscal  year or for any other
          interim period.

          These financial statements have been prepared on a going concern basis
          in  accordance  with  United  States  generally  accepted   accounting
          principles.  The  going  concern  basis of  presentation  assumes  the
          Company will continue in operation throughout the next fiscal year and
          into the foreseeable future and will be able to realize its assets and
          discharge  its  liabilities  and  commitments  in the normal course of
          business.  Certain conditions,  discussed below, currently exist which
          raise  substantial  doubt upon the  validity of this  assumption.  The
          financial  statements do not include any adjustments that might result
          from the outcome of this uncertainty.

          As reflected in the accompanying  consolidated  financial  statements,
          the Company has had recurring  losses from  operations,  negative cash
          flow from  operations and at September 30, 2002, had a working capital
          deficiency  of  $2,543,860.  Also,  as described in notes 7, 8, 9, the
          Company is in default on payments under certain  acquisition loans and
          other loan  agreements.  To September 30, 2002, the  creditor(s)  have
          taken no action on this default. These matters raise substantial doubt
          about the Company's ability to continue as a going concern.

          The  Company  believes  its cash  reserves at  September  30, 2002 are
          sufficient to maintain its present  level of operations  over the next
          three months.  Management  plans to take the  following  steps that it
          believes will be sufficient to provide the Company with the ability to
          continue as a going concern:

                                       7
<PAGE>

          (i)  Raise additional capital through the sale of its capital stock;

          (ii) Raise   additional   funds   through   financing   agreements  or
               renegotiate agreements currently in default;

          (iii)Acquire  additional  profitable  operating  companies through the
               issuance of shares of capital stock and cash.

          Such  financing  may  not be  available  or may  not be  available  on
          reasonable  terms.  The  resolution  of this  going  concern  issue is
          dependent on the realization of  management's  plans. If management is
          unsuccessful in raising future debt or equity financings,  the Company
          will be required  to  liquidate  assets and curtail or possibly  cease
          operations  and  creditors,  including  under  the  acquisition  loans
          described  in note 7, may be able to take  action to  realize on their
          security.

     (b) 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  amounts  of assets  and
          liabilities and the disclosure of contingent assets and liabilities at
          the date of the  financial  statements  and the  reported  amounts  of
          revenues and expenses during the reporting  period.  Significant areas
          requiring  the  use  of  estimates  include  the  valuation  of  stock
          compensation  and the  determination  of goodwill  impairment.  Actual
          results may differ significantly from these estimates.

     (c)  Net income (loss) per share:

          Basic income (loss) per share is computed  using the weighted  average
          number of  shares  of common  stock  outstanding  during  the  period.
          Diluted income (loss) per share is computed using the weighted average
          number of common  and  potentially  dilutive  common  stock  issuances
          outstanding during the period.

     (d)  Recent accounting pronouncements:

          In August  2001,  the FASB issued FAS No. 143,  "Accounting  for Asset
          Retirement  Obligations",  which requires  entities to record the fair
          value of a liability for an asset retirement  obligation in the period
          in which it is incurred and a  corresponding  increase in the carrying
          amount of the related  long-lived  asset. FAS No. 143 is effective for
          fiscal years beginning after June 15, 2002.

          In October  2001,  the FASB  issued FAS No. 144,  "Accounting  for the
          Impairment or Disposal of Long-Lived  Assets and for Long-Lived Assets
          to be  Disposed  of".  FAS No. 144  applies to the  assessment  of the
          impairment  in the  carrying  value of  long-lived  assets,  excluding
          goodwill and certain  other  specified  items,  including  those to be
          disposed of by sale, including  discontinued  operations.  FAS No. 144
          requires  that those  long-lived  assets be  measured  at the lower of
          carrying  amounts  and fair  value  less  costs  to  sell.  Therefore,
          discontinued  operations  will no longer be measured at net realizable
          value or  include  amounts  for  operating  losses  that  have not yet
          occurred.  The Company  implemented  FAS No. 144 in fiscal  2002.  The
          adoption did not impact the Company's financial position or results of
          operations.

                                       8
<PAGE>

          Currently,  the  Company  does  not  believe  that the  impact  of the
          adoption of FAS No. 143 will be material to its financial results.

     (e)  Comparative figures:

          Certain of the comparative  figures have been  reclassified to conform
          to the presentation adopted in the current period.

2. Inventories:

--------------------------------------------------------------------------------
                                              December 31         September 30
--------------------------------------------------------------------------------
                                                     2001                 2002
--------------------------------------------------------------------------------
                                                                    (unaudited)

        Raw materials                       $     299,000       $      404,001
--------------------------------------------------------------------------------

Inventories consist principally of drilling pipe and drilling supplies.


GLOBAL INDUSTRIAL SERVICES INC.
Notes to Consolidated Financial Statements
(Unaudited)
(Expressed in U.S. Dollars)

September 30, 2002 and 2001

--------------------------------------------------------------------------------

3.     Property and equipment:
<table>
<caption>
--------------------------------------------------------------------------------------------------------------
                                                                              Accumulated             Net book
       December 31, 2001                                          Cost       depreciation                value
--------------------------------------------------------------------------------------------------------------
<S>                                                              <C>                <C>                 <C>
       Drill rigs                                      $     3,029,952     $      811,180       $    2,218,772
       Automobiles and trucks                                  416,695            176,120              240,575
       Equipment                                               617,034            129,074              487,960
       Computer equipment and software                         348,702            295,899               52,803
       Office equipment, furniture and fixtures                288,993            270,495               18,498
       Office building                                           1,735                549                1,186

--------------------------------------------------------------------------------------------------------------
                                                       $     4,703,111     $    1,683,317       $    3,019,794
--------------------------------------------------------------------------------------------------------------

                                                                              Accumulated             Net book
       September 30, 2002 (unaudited)                             Cost       depreciation                value
--------------------------------------------------------------------------------------------------------------

       Drill rigs                                      $     3,557,447     $      966,786       $    2,590,661
       Automobiles and trucks                                  483,143            197,323              285,820
       Equipment                                               629,227            154,821              474,406
       Computer equipment and software                         353,346            312,925               40,421
       Office equipment, furniture and fixtures                291,236            275,677               15,559
       Office building                                           1,735                636                1,099

--------------------------------------------------------------------------------------------------------------
                                                       $     5,316,134     $    1,908,168       $    3,407,966
--------------------------------------------------------------------------------------------------------------
</table>

                                       9
<PAGE>

     Depreciation  expense recorded in the statements of operations for the nine
     months and quarter  ended  September  30, 2002 was  $225,891  and  $67,627,
     respectively (nine months and quarter ended September 30, 2001 was $153,193
     and $51,914, respectively).

4. Investments:

     (a)  Stothert invested $105,332 (2001 - $100,591) (CAD $160,000) in 160,000
          non-voting  preferred  shares of Lakes Ranch Ltd. on August 30,  1996.
          Lakes  Ranch Ltd.  is owned and  controlled  by a  stockholder  of the
          Company. The recoverability of this investment became impaired and the
          Company  determined that a write-off of the investment was required as
          at June 30, 2002.

     (b)  In2001,  the Company paid cash of $19,367 and issued  25,000 shares of
          common  stock with a market  value of $16,250  to the  stockholder  of
          Trisil Minerals,  Inc.  ("Trisil") in exchange for a 180-day option to
          purchase  Trisil.  In addition,  the Company incurred capital costs of
          $1,220  related to this  investment.  The Company wrote off $36,837 of
          costs associated with the option upon expiry of the original option in
          2001.

          During the first nine months of 2002,  the Company signed a new option
          agreement with the stockholder of Trisil Minerals,  Inc. Upon issuance
          of 25,000 shares of common stock of the Company to the  stockholder of
          Trisil, the new agreement gives the Company an open period in which to
          evaluate  Trisil's  properties  and markets for its  products,  at the
          Company's  expense.  As at  September  30,  2002,  no shares have been
          issued for this right.

5. Goodwill:

     In 2000, the Company  acquired AK Drilling,  Inc., a company engaged in the
     contract  drilling for  minerals and water.  According to the terms of this
     acquisition,  the Company acquired all of the capital stock of AK Drilling,
     Inc. for a total  consideration of $1,150,000 in cash plus 1,000,000 shares
     of common stock of the Company  valued at $0.64 per share  (market value at
     the acquisition date). At September 30, 2002,  $628,000 of the cash portion
     of the purchase price remained unpaid (see note 7).

     In 2000, the Company acquired  Stothert Group,  Inc., an engineering  firm.
     According to the terms of this acquisition, the Company acquired all of the
     capital stock of Stothert Group,  Inc. for total  consideration of $814,300
     in cash plus 227,000  shares of common stock of the Company valued at $0.88
     per share (market value at the  acquisition  date).  At September 30, 2002,
     $546,300 of the cash portion of the  purchase  price  remained  unpaid (see
     note 7).


     Goodwill  recorded  through  these  acquisitions  totaled  $1,016,016.  The
     Company  adopted  FAS No. 142  "Goodwill  and Other  Intangible  Assets" on
     January 1, 2002. Upon adoption,  goodwill is no longer amortized under this
     new  accounting  standard  and the Company is required to perform an annual
     assessment of impairment of goodwill.  Amortization expense recorded in the
     statements   of   operations   for  the  nine  months  and  quarter   ended
     September 30,  2002 totals  $NIL and $NIL,  respectively  (nine  months and
     quarter  ended  September  30, 2001 - $149,521 and $52,275,  respectively).
     Excluding goodwill amortization, adjusted loss and adjusted loss per common
     share for the three and nine  months  ended  September  30,  2001  would be


                                       10
<PAGE>

     $609,680 and $3,215,369 and ($0.03) and ($0.18),  respectively. In December
     2001, the Company determined that a write-down of goodwill arising from the
     Stothert Group  acquisition was required due to continued  projected future
     negative operating cash flows from these operations.  The carrying value of
     Stothert  Group's  goodwill at  December 31,  2001 was written down to nil,
     requiring a write-down of $657,095.


6. Bank indebtedness:

     Bank  indebtedness  is comprised  of a chequing  account  overdraft  and an
     operating line. The First Citizens Bank Operating Line  established in 2000
     was transferred to Wells Fargo Bank in 2002. The Wells Fargo Bank Operating
     Line  is  secured  by all  unsecured  inventory,  accounts  receivable  and
     equipment. The loan bears interest at a fixed annual rate of 6%, and is for
     a maximum amount of $150,000.  The balance due as of September 30, 2002 was
     $100,039 (2001 - First

     Citizens Bank - $75,949).  The First Citizens Bank Chequing  Account was in
     overdraft at September 30, 2002 to the amount of $14,086 (2001 - $NIL).

7.     Payable on acquisition of subsidiaries:

--------------------------------------------------------------------------------
                                                December 31         September 30
                                                      2001                 2002
--------------------------------------------------------------------------------
                                                                    (unaudited)

       AK Drilling, Inc.                    $      628,000       $      628,000
       Stothert Group, Inc.                        546,300              546,300

--------------------------------------------------------------------------------
                                            $    1,174,300       $    1,174,300
--------------------------------------------------------------------------------

     The  Company is in default of making its  purchase  price  payments  on the
     acquisitions of AK Drilling,  Inc. and Stothert  Group,  Inc. (note 5). The
     Company  intends  to enter  into  negotiations  with the  debt  holders  to
     renegotiate  the payment terms for the outstanding  obligation  under these
     acquisitions.  In the event that the Company is unable to  renegotiate  the
     payment terms of the individual acquisition agreements, the holders will be
     able to take action under their  security  rights on the debt  instruments.
     The outcomes of the negotiations and any future actions by the debt holders
     are not  known at this  time.  However,  the  possibility  exists  that the
     actions  taken or outcome of the  negotiations  may result in the  acquired
     entities  being  returned to the  holders in  settlement  and may  possibly
     require the Company to cease  operations.  The remaining  operations of the
     Company  (excluding  the AK Drilling and  Stothert  Group  businesses)  are
     summarized as follows:


                                       11
<PAGE>

--------------------------------------------------------------------------------

       Balance Sheet information
       as at September 30, 2002                                      (unaudited)

       Current assets                                            $      125,891
       Other current liabilities                                        848,830

       Statement of Operations information
       Nine months ended September 30, 2002

       Interest income                                           $          174

       Operating expenses                                               992,145

       Expense recovery                                                (112,500)
       Other expenses                                                   228,537
--------------------------------------------------------------------------------
       Total expense                                                  1,108,182

--------------------------------------------------------------------------------
       Loss                                                       $    1,108,008
--------------------------------------------------------------------------------

8.     Long-term debt:
<table>
<caption>
--------------------------------------------------------------------------------------------------------------
                                                                              December 31         September 30
                                                                                     2001                 2002
--------------------------------------------------------------------------------------------------------------
                                                                                                   (unaudited)
<S>                                                                                 <C>                 <C>
       FCB Consolidation (a)                                               $      557,461       $            -
       Sellars Financial Inc. (b)                                                 275,968              396,388
       Center Capital 3 (c)                                                       237,558                    -
       Maricopa Equity Management Corp. (d)                                       100,000              100,000
       FCB Trucks (e)                                                              29,996                    -
       Dateline Drilling (f)                                                       26,808               27,883
       Kettle Drilling (g)                                                          2,750                2,750
       Wells Fargo Consolidation (h)                                                    -              685,000
       Performance Dodge Trucks                                                         -               56,278
--------------------------------------------------------------------------------------------------------------
       Total                                                                    1,230,541            1,268,299
       Less:  current portion                                                    (553,528)            (752,556)

--------------------------------------------------------------------------------------------------------------
       Long-term portion                                                   $      677,013       $      515,743
--------------------------------------------------------------------------------------------------------------
</table>

                                       12
<PAGE>

     Maturities  of long-term  debt for the twelve month period ended  September
     30, 2002 are as follows:

          ---------------------------------------------------------

          2003                                      $       752,556
          2004                                              239,250
          2005                                              253,981
          2006                                               11,256
          2007                                               11,256

          ---------------------------------------------------------
                                                    $     1,268,299
          ---------------------------------------------------------


The Company's long-term debt agreements,  as described below, do not contain any
financial covenants.

     (a)  The  Company was  obligated  to First  Citizens  Bank under a 60-month
          promissory  note dated  September 30, 1999 in the principal  amount of
          $944,030.  The loan was  bearing  interest  at a fixed  annual rate of
          8.25% per year with monthly payments of $19,253 and was secured by all
          inventory, accounts receivable, equipment and general intangibles. The
          First  Citizens  Bank  loan  was  refinanced  by a  Wells  Fargo  Bank
          consolidation loan in September of 2002 (see note 8(h)).

     (b)  On November  15,  2001,  the  Company  issued a  convertible  note for
          $251,130 (CAD $400,000).  The Company  received an additional  $31,391
          (CAD  $50,000) on December 5, 2001,  and an  additional  $94,174  (CAD
          $150,000) on December 12, 2001.  Interest payable on this note accrues
          at an annual rate of thirty percent and is payable monthly  commencing
          30 days  following  the  advance  of funds  under the  note.  The note
          matures on November 15, 2002.

          The  holder  has the  right  to  convert  up to fifty  percent  of any
          outstanding  unpaid  principal  and interest at any time the Company's
          shares of common stock is trading at a price of $1.00 or greater for a
          period of ten consecutive trading days. The conversion price per share
          shall be eighty  percent  of the  average  closing  bid prices for the
          common stock for the five trading days prior to but not  including the
          Conversion Date. On maturity date, the holder has the right to convert
          any unpaid  principal  portion of this note of $50,000 or greater,  or
          any lesser amount  representing  the full  remaining  outstanding  and
          unpaid principal portion, and the monthly interest, into the Company's
          common stock at the conversion price. The beneficial conversion option
          amount  related  to the  convertible  instrument  is  $124,642  and is
          recorded  as a debt  discount  and  additional  paid  in  capital  and
          recognized  over  the  term to  maturity  of the  loan  as  additional
          interest expense.

          The  holder  of the  convertible  note will  receive  one  warrant  to
          purchase  one share of common  stock for each dollar of  principal  or
          interest  converted  under this note. The warrant shall be exercisable
          for a period of one year from the date of issue at the exercise  price
          of eighty  percent of the  average  closing  bid prices for the common
          stock  for the  five  trading  days  prior  to but not  including  the
          exercise date.  The fair value of the warrants at the commitment  date
          of $30,468 will be recognized upon conversion.

                                       13
<PAGE>

     (c)  The Center Capital loan was bearing interest of 9.0% per year, payable
          in monthly  installments  totaling  $61,680  per year,  and secured by
          liens on certain drill rigs and other  equipment.  The Center  Capital
          loan  was  refinanced  by a Wells  Fargo  Bank  consolidation  loan in
          September of 2002 (see note 8(h)).

          (d) On June  22,  2001,  the  Company  issued a  $100,000  convertible
          debenture together with a premium of $25,000.  The premium was paid on
          August 23, 2001 as per the original terms of the convertible debenture
          agreement.  On August 23, 2001 the parties  agreed to an  extension of
          the terms of the convertible  debenture  whereby the Company would pay
          an additional $15,000 to keep the funds available for a further thirty
          days  until  September  22,  2001,  with an option to pay yet  another
          $15,000 for another thirty days (until October 22, 2001).  Payments of
          $15,000 and $27,000 were made in September,  2001 and November,  2001,
          respectively.  The Company has not made any additional payments to the
          lender and is in the process of renegotiating the terms and conditions
          with the  lenders.  At any  time the  holder  may opt to  convert  the
          debenture to common stock at a conversion price which is the lesser of
          (a) 110% of the closing bid price for  Company's  common  stock on the
          trading day immediately preceding its issuance date, or (b) 80% of the
          lowest  closing bid price for  Company's  common stock during the five
          trading  days  prior  to  and  including  the  conversion   date.  The
          conversion price is subject to certain  adjustments should the Company
          grant stock options, declare a stock split, issue additional shares of
          capital stock or issue  convertible  debt. The  beneficial  conversion
          feature  valued at $25,000  has been  recorded as  additional  paid in
          capital and is recognized as additional  interest  expense during 2001
          over  the  term  of the  debenture  using  the  interest  method.  Any
          remaining  principal  balance is to be  automatically  converted  into
          common stock of the Company on June 22, 2003.

     (e)  The  Company was  obligated  to First  Citizens  Bank under a 60-month
          promissory  note  dated  January  4, 1999 in the  principal  amount of
          $65,165.  The note was  bearing  interest at a fixed rate of 7.75% per
          year with monthly payments of $1,314,  and secured by liens on certain
          trucks.  The First  Citizens Bank note was refinanced by a Wells Fargo
          Bank consolidation loan in September of 2002 (see note 8(h)).

     (f)  The Company is obligated  to Dateline  Drilling,  Inc.  under a demand
          note in the principal  amount of $25,000 plus accrued annual  interest
          at prime  plus 1%.  The note  matured on  January  26,  2002,  and the
          Company is in the process of  renegotiating  the terms and  conditions
          with the lender.

     (g)  The  Company  is  obligated  to  Kettle   Drilling  under  a  12-month
          promissory  note  dated  December  2000,  in the  principal  amount of
          $33,000.  Payments of $2,750 per month  commenced in January 2001, and
          no  interest  has  been  paid  or  accrued  as of  December  2000,  in
          accordance  with  the  terms  of the  promissory  note.  The  note  is
          non-interest  bearing unless payments are late, in which case interest
          due on the  late  payment  amounts  at 18%  per  year.  This  note  is
          guaranteed by a stockholder of the Company.

     (h)  The  Company  is  obligated  to  Wells  Fargo  Bank  under a  60-month
          promissory  note dated  September 17, 2002 in the principal  amount of
          $685,000.  The Wells Fargo Bank loan  consolidated  several  loans and
          notes  payable.  The loan bears  interest at a fixed annual rate of 6%
          per year with  monthly  payments  of  $13,243  and is  secured  by all
          inventory, accounts receivable, equipment and general intangibles.

                                       14
<PAGE>

9. Obligations under capital leases:

     The Company is obligated to Dateline  Drilling,  Inc.  ("Dateline") under a
     24-month lease arrangement  dated May 20,  2000 to make monthly payments of
     $16,651 with a final  payment of $38,000 at the end of the 24-month  lease.
     At September 30, 2002, the Company is in default of its  obligations  under
     this lease.  As a result,  Dateline has the right to  repossess  the leased
     drilling  equipment.  The balance due as of September 30, 2002 was $199,118
     (2001 - $184,956). The implicit interest rate is 10.47%.

     The Company is obligated to Wells Fargo  Equipment  Finance,  Inc.  under a
     48-month  lease  arrangement  dated  September  24,  2001 to  make  monthly
     payments  of  $1,779  with a  final  payment  of  $8,156  at the end of the
     48-month lease.  The balance due as of September 30, 2002 was $64,917 (2001
     - $77,510). The implicit interest rate is 6.36%.

     The Company is obligated to Talon Drilling, Inc. ("Talon") under a 20-month
     lease  arrangement  dated  September 15,  2002 to make monthly  payments of
     $22,500.  The balance due as of  September  30, 2002 was  $405,000  (2001 -
     $NIL). The implicit interest rate is 3%.

     At September  30, 2002 and December 31, 2001,  the gross amount of property
     and equipment and related accumulated  amortization  recorded under capital
     leases and included in capital assets were as follows:

--------------------------------------------------------------------------------
                                                December 31         September 30
                                                    2001                 2002
--------------------------------------------------------------------------------
                                                                     (unaudited)

       Drill rigs                           $      395,000       $      800,000
       Automobile and trucks                        81,562               81,562
--------------------------------------------------------------------------------
                                                   476,562              881,562
       Less accumulated amortization               (45,248)             (72,240)

--------------------------------------------------------------------------------
                                             $     431,314       $      809,322
--------------------------------------------------------------------------------

At September  30, 2002,  capital  lease  repayments  for the twelve month period
ended September 30, 2002 are due as follows:

          ---------------------------------------------------------
          2003                                        $     521,319
          2004                                              156,355
          2005                                               21,355
          2006                                                8,156
          ---------------------------------------------------------
          Total minimum lease payments                      707,185
          Less amount representing interest
            (at rates ranging from 6.36% to 10.47%)         (38,150)
          ---------------------------------------------------------
          Present value of capital lease obligations        669,035
          Less:  current portion                            216,853

          ---------------------------------------------------------
          Obligation under capital leases,
            excluding current portion                       452,182
          ---------------------------------------------------------

                                       15
<PAGE>


Interest of $6,333 (2001 - $16,733)  relating to capital lease  obligations  has
been included in interest expense for the nine months ended September 30, 2002.

10. Advances from affiliated parties:

     Advances from affiliated  parties are non-interest  bearing,  unsecured and
     due on demand. Advances of $490,671 (December 31, 2001 - $239,642) are owed
     to a stockholder of the Company.  Advances of $25,146  (December 31, 2001 -
     $106,897) are owed to a company controlled by a stockholder of the Company.
     In 2001, the Company issued  4,599,751  shares of common stock to a company
     controlled  by a  stockholder  as settlement of $1,379,925 in advances from
     affiliated parties.

11. AK International, S.A. operations:

     In 2000 and 2001, AK  International,  S.A.  conducted  contracted  drilling
     activities  in Peru,  S.A.  Drilling  ceased  in 2001  when  the  Company's
     drilling  contract was cancelled.  The Company removed its major assets and
     contract  personnel  from Peru,  S.A.  during fiscal 2001. The revenue from
     these operations during the first nine months ending September 30, 2002 was
     $NIL  (2001 -  $292,930)  with net  income of $NIL  (2001 -  $20,513).  The
     remaining  assets in Peru  including  inventory  and property and equipment
     were not recoverable.  The Company  recognized a write-down of property and
     equipment  of $58,401 and a  write-down  of  inventory  in cost of sales of
     $35,405 during the last quarter of 2001.

12. Capital stock:

     Under the Stock Plan  maintained  by the  Company,  the  Company  can grant
     incentive stock options and  non-qualified  stock options to officers,  key
     employees,  consultants and directors of the Company at a price of not less
     than $0.25 per share.

     The  maximum  number  of  shares  which  may be  issued  under  the plan is
     2,000,000.

     On January 14,  2000,  the Company  granted  options to purchase  2,000,000
     shares of common stock.  500,000 shares are  exercisable at $0.25 per share
     and 1,500,000 shares are exercisable at $0.50 per share. The options vested
     immediately and expire in three years.

     Pursuant to APB 25, the Company has recorded employee  compensation expense
     of $NIL during the nine months ended September 30, 2002 (2001 - $16,250).

     A summary of stock option transactions is as follows:

--------------------------------------------------------------------------------
                                                                            2002
--------------------------------------------------------------------------------

       Outstanding, January 1, 2002 and September 30, 2002             2,000,000

--------------------------------------------------------------------------------

       Exercisable, September 30, 2002                                 2,000,000
--------------------------------------------------------------------------------

       Weighted average remaining life of options outstanding         0.25 years
--------------------------------------------------------------------------------

                                       16
<PAGE>

13. Income per share:

     Common  shares held in escrow of 5,000,000 for future debt  conversion,  if
     any, at  September  30, 2002 have been  excluded  from the  calculation  of
     weighted average number of shares of common stock.

14. Commitments and contingencies:

     (a)  Operational leases:

          AK  Drilling  rents  on-site  office and living  quarters on a per-job
          basis.  The  terms of the  leases  range  from a  month-to-month  to a
          maximum of a six month lease.

          Stothert  leases  premises  under an operating  lease which expires in
          2005. The aggregate  minimum annual rental payments over the next five
          years are $170,455 (CAD $271,500) per year.

          Stothert  leases  office  equipment  and the  payment  schedule  is as
          follows:


          ---------------------------------------------------------

          2002                                       $        7,963
          2003                                                7,963
          2004                                                6,434
          2005                                                4,814
          2006                                                1,216

          ---------------------------------------------------------

          Rent expenses  included in the  statements of operations  for the nine
          months ended  September  30, 2002 and 2001 was $148,111 and  $149,803,
          respectively.

     (b)  Letters of credit:

          Stothert has issued standby letters of credit  totaling  $134,195 (CAD
          $211,800) relating to contracts in progress.  These standby letters of
          credit will expire on December 31, 2002.

15. Geographic areas and industry segments:

     The Company  defines an  operating  segment as a component  that engages in
     business  activities  whose  operating  results  are  reviewed by the chief
     operating  decision maker and for which discrete  financial  information is
     available. The Company's chief operating decision maker has been identified
     as the Chairman, who reviews operating results for the entity as a whole in
     making decisions about allocating  resources and assessing  performance for
     the Company.

     The Company  currently  operates  in two  principal  segments,  engineering
     services and drilling services.

     The  Company's  foreign  operations  are  conducted  by  Global,   Stothert
     ("Engineering") and AK International ("Drilling").

                                       17
<PAGE>

<table>
<caption>
--------------------------------------------------------------------------------------------------------------
                                           For the three months                      For the nine months
                                            ended September 30                       ended September 30
--------------------------------------------------------------------------------------------------------------
                                                (unaudited)                              (unaudited)
--------------------------------------------------------------------------------------------------------------
                                                2001             2002                2001                 2002
--------------------------------------------------------------------------------------------------------------
<S>                                               <C>            <C>                 <C>                 <C>
       Interest expense:
           Drilling                    $      20,289    $      59,904      $       62,983       $       96,650
           Engineering                        16,762                -              18,437                    -
           Global                             59,250           60,889              67,302              182,301

--------------------------------------------------------------------------------------------------------------
                                       $      96,301    $     120,793      $      148,722       $      278,951
==============================================================================================================

       Depreciation and amortization:
           Drilling                    $      44,145    $      63,682      $      129,789       $      207,979
           Engineering                         7,769            3,945              23,404               17,912
           Global                             52,275                -             149,521                   -
--------------------------------------------------------------------------------------------------------------
                                       $     104,189    $      67,627      $      302,714       $      225,891
==============================================================================================================

       Segment profit (loss):
           Drilling                    $   (157,237)    $     190,768      $     (281,537)      $      (91,975)
           Engineering                     (148,256)         (117,851)           (258,174)            (226,935)
           Global                          (356,462)         (106,365)         (2,825,179)          (1,108,008)

--------------------------------------------------------------------------------------------------------------
                                       $   (661,955)    $     (33,448)    $    (3,364,890)      $   (1,426,918)
==============================================================================================================

       Segment property and equipment net additions:
           Drilling                    $    (132,949)   $      89,060      $       (2,703)      $      152,289
           Engineering                         3,333                -               8,084               16,515

--------------------------------------------------------------------------------------------------------------
                                       $    (129,616)   $      89,060      $        5,381       $      168,804
==============================================================================================================
</table>

<table>
<caption>
--------------------------------------------------------------------------------------------------------------
                                                                                    As at                As at
--------------------------------------------------------------------------------------------------------------
                                                                              December 31         September 30
                                                                                     2001                 2002
--------------------------------------------------------------------------------------------------------------
                                                                                                   (unaudited)
<S>                                                                                   <C>               <C>
       Segment assets:
           Drilling                                                        $    3,485,501       $    4,268,834
           Engineering                                                            683,589              564,406
           Global                                                                 201,095              125,891

--------------------------------------------------------------------------------------------------------------
                                                                           $    4,370,185       $    4,959,131
==============================================================================================================
</table>

                                       18
<PAGE>

Sales to the Company's major customers  representing  more than 10% of the total
revenues included:
<table>
<caption>
--------------------------------------------------------------------------------------------------------------
                                           For the three months                      For the nine months
                                            ended September 30                       ended September 30
--------------------------------------------------------------------------------------------------------------
                                                (unaudited)                              (unaudited)
--------------------------------------------------------------------------------------------------------------
                                                2001             2002                2001                 2002
--------------------------------------------------------------------------------------------------------------
<S>                                             <C>              <C>                 <C>                 <C>
       Customer A                      $      94,963    $     848,492      $      734,737       $    1,420,266
       Customer B                             59,109                -             404,723                    -
       Customer C                            136,993          335,748             142,605              697,296
       Customer D                            101,649             37,615           298,880              188,262
==============================================================================================================
</table>

The  following  geographic  area data for trade  revenues is based on product or
service  delivery  location  and  property,  plant,  and  equipment  is based on
physical location.

<table>
<caption>
--------------------------------------------------------------------------------------------------------------
                                           For the three months                      For the nine months
                                            ended September 30                       ended September 30
--------------------------------------------------------------------------------------------------------------
                                                (unaudited)                              (unaudited)
--------------------------------------------------------------------------------------------------------------
                                                2001             2002                2001                 2002
--------------------------------------------------------------------------------------------------------------
<S>                                             <C>               <C>                <C>                 <C>
       Revenues from external customers:
           United States               $     432,548    $     1,047,450    $    1,698,943       $    1,843,659
            Canada                           511,928            537,873         1,839,303            1,514,213
            Peru                               8,872                -             300,791                    -
--------------------------------------------------------------------------------------------------------------
                                       $     953,348    $     1,585,323    $    3,839,037       $    3,357,872
==============================================================================================================
</table>

<table>
<caption>
--------------------------------------------------------------------------------------------------------------
                                                                                    As at                As at
--------------------------------------------------------------------------------------------------------------
                                                                              December 31         September 30
                                                                                     2001                 2002
--------------------------------------------------------------------------------------------------------------
                                                                                                   (unaudited)

                                                                               <C>                   <C>
       Segment assets:
           United States                                                   $    3,485,501       $    4,394,725
            Canada                                                                884,684              564,406

--------------------------------------------------------------------------------------------------------------
                                                                           $    4,370,185       $    4,959,131
==============================================================================================================
</table>
                                       19
<PAGE>


16.    Supplemental information:

<table>
<caption>
--------------------------------------------------------------------------------------------------------------
                                                                             For the nine         For the nine
                                                                             months ended         months ended
                                                                             September 30         September 30
                                                                                     2001                 2002
--------------------------------------------------------------------------------------------------------------
                                                                              (unaudited)          (unaudited)
<S>                                                                                <C>                 <C>
(a)      Cash flow information:
              Changes in operating assets
                 and liabilities:
                  Accounts receivable                                      $      283,615       $     (432,450)
                  Due from director                                                     -              (14,012)
                  Prepaid expenses                                                113,882               15,914
                  Inventories                                                     (29,169)            (105,001)
                  Other assets                                                    (39,729)                   -
                  Accounts payable                                                343,439              498,270
                  Accrued liabilities                                                   -               63,234
                  Deferred revenue                                                105,939               20,181

--------------------------------------------------------------------------------------------------------------
                                                                           $      777,977       $       46,136
==============================================================================================================

(b)      Supplementary cash flow disclosure:
              Cash paid for:
                  Interest                                                 $       62,553       $      209,445
                  Income taxes                                                          -                    -

              Non-cash transactions:

                  Shares issued as settlement of payables                       2,277,700              176,500
                  Shares issued for services                                            -              640,770
                  Shares issued for options to purchase                            16,250                    -
                  Capital lease addition                                                -              450,000

==============================================================================================================
                                                                                    As at                As at
--------------------------------------------------------------------------------------------------------------
                                                                              December 31         September 30
                                                                                     2001                 2002
--------------------------------------------------------------------------------------------------------------
                                                                                                   (unaudited)
(c)      Allowance for doubtful accounts:
              Opening balance                                              $      123,213       $      140,306
              Bad debt expense                                                     18,547                5,866
              Write-offs and settlements                                           (1,454)                 216

--------------------------------------------------------------------------------------------------------------
              Closing balance                                              $      140,306       $      146,388
==============================================================================================================
</table>

                                       20
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATIONS

The following  discussion  should be read in conjunction  with the  consolidated
financial statements of the Company and related notes included elsewhere in this
Report for the period ended September 30, 2002. All statements  contained herein
(other  than  historical  facts)  including,  but  not  limited  to,  statements
regarding the  Company's  future  development  plans,  the Company's  ability to
generate cash from its  operations,  and any losses related  thereto,  are based
upon current  expectations.  These  statements are forward looking in nature and
involve  a  number  of  risks  and  uncertainties.  Actual  results  may  differ
materially from the anticipated results, or other expectations, expressed in the
Company's  forward  looking  statements.   Generally,  the  words  "anticipate,"
"believe,"  "estimate," "expects," and similar expressions as they relate to the
Company  and/or  its  management,   are  intended  to  identify  forward-looking
statements.  Among  the  factors  that  could  cause  actual  results  to differ
materially could be the inability of the Company to obtain additional  financing
to meet its  capital  requirements,  needs and  general  business  and  economic
conditions as well as technological developments.

The  accompanying  consolidated  financial  statements  include the  accounts of
Global  Industrial  Services  Inc.  and  its  wholly-owned  subsidiaries.  Those
subsidiaries are Stothert Group, Inc. ("Stothert"),  Stothert's subsidiaries, AK
Drilling, Inc. ("AK Drilling"), and AK Drilling's subsidiary.

OVERVIEW

The Company has a limited history of operations and no history of profitability.
It was  incorporated  as Charger  Ventures Inc. on July 24, 1998 and changed its
name to Global  Industrial  Services  Inc.  on March 30,  2000.  The Company was
organized to engage in any lawful corporate business,  including but not limited
to  the  business  of  combining  and  integrating  specialized  product/service
providers of the  industrial  services  industry  sector.  Prior to December 31,
1999, the Company had no operating history other than organizational matters. In
the second quarter of 2000, the Company  acquired two operating  entities and is
no longer in the development stage.

The auditors' report on the December 31, 2001 consolidated  financial statements
includes an additional  explanatory  paragraph  that states that the Company has
suffered  recurring  losses and negative  cash flows from  operations  and has a
working capital deficiency and is in default on certain debt payments that raise
substantial  doubt  about  our  ability  to  continue  as a going  concern.  The
consolidated  financial  statements  do not include any  adjustments  that might
result from the outcome of this uncertainty.

On  April  6,  2000  the  Company  acquired  AK  Drilling,  Inc.  from  its sole
shareholder who remains as the operator of AK Drilling.  The  acquisition  price
was $1,150,000 in cash and 1 million  common shares of the Company.  The Company
is in default of making its purchase  price  payments on the  acquisition  of AK
Drilling,  Inc.  since August 6, 2000 as the Company did not have  adequate cash
flow to pay out the remaining  balance.  At September 30, 2002, the Company owed
the  shareholder of AK Drilling  $628,000  (December 31, 2001 - $628,000) of the
cash portion of the purchase. As a privately owned drilling company, AK Drilling
has provided drilling services to the mining industry since 1995.  Anthony King,
the operator of AK, has over 20 years of hard rock  drilling  experience.  Since
1995,  AK  Drilling  operates  primarily  in the mineral  exploration  and water
drilling industry.  AK Drilling's offices are located in Ramsay,  Montana and it
has  projects  throughout  the  United  States.  AK  Drilling's  subsidiary,  AK
International,  S.A., had some minor operations in Peru;  however,  during 2001,
the  Company  ceased its Peru's  operations  due to bad  economical  factors and

                                       21
<PAGE>

unsteady political  environment and focused its effort in the United States. The
Company wrote off the Peru's assets in 2001.

On April  26,  2000 the  Company  acquired  Stothert  from its  shareholders  in
consideration for $814,300 in cash and 227,000 common shares of the Company. The
Company is in default of making its purchase price  payments on the  acquisition
of  Stothert  Group Inc.  since  November  20,  2000 as the Company did not have
adequate cash flow to pay out the remaining balance.  At September 30, 2002, the
Company owed the Stothert  shareholders  $546,300 (December 31, 2001 - $546,300)
of the cash portion of the purchase price. Stothert is a Vancouver based company
providing  engineering,  construction  and project  management  services for the
power,  pulp  and  paper,   industrial  minerals,   forestry  and  environmental
industries.  It was  established  in 1966 and  employs  professional  engineers,
managers and operations specialists.  Stothert provides a full range of services
including  feasibility  studies,   detailed   engineering,   project  management
services,  turnkey supply and  construction,  operations and training  services,
technical  audits and due diligence.  It has carried out industrial  projects in
over 60 countries.

During the first nine months of fiscal 2002,  the Company was  financed  through
advances  from  related  parties of  approximately  $169,278  (nine months ended
September 30, 2001 - $254,071).  The Company issued 966,666 common shares during
the nine months ended September 30, 2002 and raised $136,000.  In addition,  the
Company issued 4,438,363 common shares for payments to contractors and employees
as well as  settling  debts  owed of  $817,270  during  the  nine  months  ended
September 30, 2002.

During the first nine months of fiscal 2001,  the Company  issued  common shares
for payments to contractors and employees as well as settling for debts owed for
$2,293,950.  706,667  common  shares were sold to raise  $125,000 in cash in the
first nine months of 2001.


RESULTS OF OPERATIONS

The Company was not  operating  prior to December 31, 1999 and had only incurred
minimal  start-up  expenses as of that date. The acquisitions of Stothert and AK
Drilling  were  completed  during the second  quarter in 2000.  The two acquired
companies  results are reflected in the consolidated  financial  statements from
the dates of acquisition.

Total revenues during the quarter and nine months ending September 30, 2002 were
$1,585,323 and $3,357,872  respectively (2001 - $953,348 and $3,839,037) made up
of $1,047,450  and  $1,843,659  (2001 - $441,420 and  $1,999,734)  from drilling
services and  $537,873 and  $1,514,213  (2001 - $511,928  and  $1,839,303)  from
engineering services. Both service lines' three months revenues ending September
30, 2002  increased  from the same period last year as the Company  continued to
recover from a slow North American market.  However,  the revenues for the first
nine  months in 2002 were less  than the same  period  last year as the  Company
experienced a slow  recovery  from the downturn of the economy  during the first
six months in 2002.  The Company is  anticipating  a good year from its drilling
services for the remainder of the year. The  engineering  services  revenue will
maintain at the current level in the fourth quarter.

During the quarter and nine months ending  September 30, 2002,  cost of sales of
$1,031,916 and $2,638,443  respectively  (2001 - $821,433 and  $2,816,706)  were
made up of $657,387 and $1,541,551 (2001 - $451,393 and $1,597,385)  expenses in
the  drilling  services  and  $374,529  and  $1,096,892  (2001  -  $370,040  and
$1,219,321) in the engineering  services.  Compared to the last period's,  there


                                       22
<PAGE>

had been a 26%  increase  in its  cost of  sales  during  the  quarter  and a 6%
decrease during the nine months ending September 30, 2002. Gross profits for the
third quarter in 2002 for the drilling and  engineering  operations were 37% and
30%  respectively  (2001  - (2%)  and 28%  respectively).  As  anticipated,  the
drilling  operation's  gross  profit have  improved  drastically  as the Company
continued to focused its effort in the recovering North American economy and has
secured itself in a few  well-rewarded  contracts  during the last quarter.  The
engineering  service's gross profit increased  slightly compared to prior year's
as it is slowly recovering from a slow North American market.  Gross profits for
the nine months  ending in September  30, 2002 for the drilling and  engineering
operations were 16% and 28% respectively (2001 - 20% and 34% respectively). Both
lines'  gross  profits  for the  nine-month  period  ending  September  30, 2002
decreased because the Company was slow in recovering during the first six months
in 2002.

During the three months and nine months ending  September 30, 2002,  general and
administrative costs amounted to $468,166 and $1,890,161  respectively  compared
to last year's $653,157 and $4,124,112, a 28% and 54% decrease respectively. The
decrease  is a  continuous  effort by the  management  to keep the  general  and
administrative  costs at a reasonable  level.  During the  quarter,  the Company
issued 950,000 common shares at fair market value of $52,046 for compensation to
the contractors,  to the employees and to settle debt payments. And in the first
nine months in 2002, the Company issued  4,438,363  common shares at fair market
value of $817,270 for compensation to the  contractors,  to the employees and to
settle debt payments.

Of the $468,166 in the general and administrative  costs this quarter,  $115,364
(2001 - $309,469)  was related to salaries  and  benefits  and another  $248,539
(2001 - $226,734) to consulting fees. The Company  incurred  interest expense of
$134,589 and received  interest income of $26 in the quarter (2001 - $96,301 and
$7,863 respectively).

The Company  recorded a loss of $33,448 during the quarter (2001 - a net loss of
$661,955).  Drilling services resulted in a $190,768 profit in the third quarter
(2001 - $157,237  loss) and the  engineering  services  operation  resulted in a
$117,851  loss (2001 - $148,256  loss).  The parent  company  recorded a loss of
$106,365 during the quarter (2001 - $356,462 loss).

The loss in the third  quarter in 2002 is less than the same  period in 2001 due
mainly to the strong performance in the drilling  operations and the recovery of
the North American economy during the quarter.

The  Company  recorded  a loss of  $1,426,918  during  the  nine  months  ending
September 30, 2002 (2001 - a net loss of $3,364,890). Drilling services resulted
in a $91,975  loss in the first nine  months in 2002 (2001 - $281,537  loss) and
the engineering  services operation resulted in a $226,935 loss (2001 - $258,174
loss).  The parent company  recorded a loss of $1,108,008  during the first nine
months in 2002  (2001 -  $2,825,179  loss).  The loss in the first  nine  months
ending  September  30,  2002 is less than the same  period in 2001  because  the
Company cut back a number of general and administrative expenses.

The results of the engineering  and drilling  operations are expected to improve
in 2002 as the Company has been negotiating  additional drilling and engineering
projects  and  contracts in the fourth  quarter of 2002.  The  negotiations  are
ongoing. Thus far, the Company has secured and entered into two drilling and one
engineering  contracts in the fourth quarter. The corporate entity will continue
to be a cost center as it undertakes to improve the debt and equity structure of
the Company and review additional acquisition opportunities.

                                       23
<PAGE>

LIQUIDITY AND CAPITAL RESOURCES

The working capital  position of the Company at September 30, 2002 was a deficit
of $2,543,860.  This amount includes unpaid balances relating to the purchase of
Stothert  and AK  Drilling  of  $1,174,300  which  are in the  process  of being
re-structured.  It is expected  that these unpaid  balances  will be repaid from
operating  cash  flows  or from  equity  financings.  However,  there  can be no
assurance that there will be additional equity.

As at September  30,  2002,  $1,413,063  of the  $1,937,334  long-term  debt and
obligations  under  capital  leases,  including  the  current  portion,  relates
specifically  to AK  Drilling.  These  loans are  generally  for and  secured by
equipment  purchases  for items  such as drill  rigs and haul  trucks  and carry
interest rates which range from 7.5% to 10%. The related party advances are from
a stockholder  of the Company and from a company  controlled by a stockholder of
the Company and the advances are non-interest bearing,  unsecured and payable on
demand.  The debt owing to the  shareholders  of AK Drilling and Stothert is due
and the Company is in  discussions  with the  shareholders  to arrange a form of
repayment for these amounts which it expects to complete in 2002. The debt owing
to the shareholders of AK Drilling and Stothert are unsecured and the debt owing
to former  shareholder of AK Drilling bears an interest rate of 8% per annum. If
the terms  cannot be  renegotiated  with the  shareholders  of  Stothert  and AK
Drilling, the Company would require to pay the outstanding amounts on demand.

At December 31, 2001 the Company had working capital deficiency of $2,018,574.

Financing  will have to be raised  to  address  the  Company's  working  capital
deficiency  and repay its other  obligations.  The Company  continues  to try to
reduce  its  cash  expenditures  and  plans  on  raising  funds  through  equity
offerings.  Although  there are no  assurances  that  adequate  financing can be
achieved and on  reasonable  terms to eliminate the  Company's  working  capital
deficiency, the Company believes that such financings can be achieved.

The most significant  assets of the Company are the drilling  equipment operated
by AK  Drilling  with a net  book  value  of  $3,352,362  (December  31,  2001 -
$2,948,955),  and the  accounts  receivable  of  $893,566  (December  31, 2001 -
$466,982) of which Stothert  operations accounts for $441,121 (December 31, 2001
-  $317,638)  and  AK  Drilling  accounts  for  $347,942  (December  31,  2001 -
$131,767), and other amounts account for $104,503 (December 31, 2001 - $17,577).

Goodwill of $1,016,016  was recorded on the two  acquisitions  completed  during
2000. The Company adopted FAS No. 142 "Goodwill and Other Intangible  Assets" on
January 1, 2002. Upon adoption,  goodwill was no longer  amortized under the new
accounting  standard and the Company is required to perform an annual assessment
of impairment of goodwill.  The impact of this change in accounting principle is
as follows:

                                       24
<PAGE>

<table>
<caption>
                                                Three months     Nine months ended         Three months      Nine months
                                                    ended             ended                    ended             ended
                                                       September 30, 2002                       September 30, 2001
--------------------------------------------- ------------------ ------------------- ------------------ -----------------
<S>                                                      <C>                <C>                <C>              <C>
Net Loss as Reported                                  $(33,448)        $(1,426,918)         $(661,955)      $(3,364,890)
--------------------------------------------- ------------------ ------------------- ------------------ -----------------
Add: Amortization of Goodwill                                 -                   -            52,275           149,521
--------------------------------------------- ------------------ ------------------- ------------------ -----------------
Adjusted Net Loss                                     $(33,448)        $(1,426,918)         $(609,680)      $(3,215,369)
--------------------------------------------- ------------------ ------------------- ------------------ -----------------
Adjusted Net Loss per Common Share, Basic               $(0.00)             $(0.05)            $(0.03)           $(0.18)
and Diluted
--------------------------------------------- ------------------ ------------------- ------------------ -----------------
</table>

In December 2001, the Company  determined that a write-down of goodwill  arising
from the Stothert  Group  acquisition  was  required due to continued  projected
future negative operating cash flows from these operations as a result of a slow
economy and unfavorable  business and political  factors.  The carrying value of
Stothert  Group's  goodwill  at  December 31,  2001  was  written  down  to nil,
requiring  a  write-down  of  $657,095.  Amortization  expense  recorded  in the
statements of operations  for the quarter ended  September 30,  2002 totals $NIL
(2001 - $52,275) and $NIL (2001 - $149,521) for the nine months ended  September
30, 2002.

OUTLOOK

The Company believes its cash and cash equivalent will be sufficient to maintain
its present level of  development  efforts over the next three months.  However,
the  Company's  projections  of future cash needs and cash flows may differ from
actual  results.  The Company  plans to complete a private  placement  of equity
securities and convertible debt to fund possible future acquisitions and working
capital.  The sale of additional  equity  securities or  convertible  debt could
result in  additional  dilution  to the  stockholders.  The  Company can give no
assurance that it will be able to generate funds from operations,  refinance its
existing  overdue debt  obligations  that funds will be available to the Company
from debt or equity financings,  or that if available,  the Company will be able
to obtain such funds on favorable  terms and conditions.  The Company  currently
has no definitive arrangements with respect to additional financing.

Upon  successful  refinancing of the Company,  the growth strategy will continue
with  acquisitions  in the industrial  services  industry.  The Company plans to
continue  acquiring small to mid-size  companies in the drilling and engineering
fields through a combination of cash and stock.  Cash acquisition  payments will
be spread  over 12 to 24 months and paid out of cash  flow.  The  desired  ratio
would be 35% cash and 65% stock.  The Company  believes  that  significant  cost
savings will occur  through the merger of similar  companies  through  decreased
overheads and a more effective utilization of personnel and assets.

The  Company  plans to  continue  its  growth in its  drilling  and  engineering
operations, thus, acquiring more related capital assets. The Company is planning
to raise up to $5 million in the next  twelve  months to achieve  the  following
objectives:


                                       25
<PAGE>


o    Pay $628,000 of the cash portion  outstanding at September 30, 2002 for the
     acquisition of AK Drilling;

o    Pay $546,300 of the cash portion  outstanding at September 30, 2002 for the
     acquisition of Stothert Group;

o    Finalize  the terms of the joint  venture  between AK Drilling and Dateline
     Drilling;

o    Acquire four additional  methane gas drilling units and support  equipment;
     and

o    Acquire  an  Idaho-based  drilling  company  with  17  drills  in the  U.S.
     mainland,  Pacific Rim, Peru and Bolivia,  increasing  the Company's  total
     number of drill rigs to 40.

If management is unsuccessful in obtaining financing or in achieving  profitable
operations,  the Company  will be required to cease  operations.  The outcome of
these matters cannot be predicted at this time.

ITEM 3. CONTROLS AND PROCEDURES

(a)  Evaluation of disclosure controls and procedures

Terry  Kirby,  our Chief  Executive  Officer and Chief  Financial  Officer  (the
"Certifying Officer"),  maintains a system of disclosure controls and procedures
that is designed to provide  reasonable  assurance  that  information,  which is
required to be disclosed,  is accumulated and communicated to management timely.
Under the supervision and with the  participation of management,  the Certifying
Officer  evaluated  the  effectiveness  of  the  design  and  operation  of  its
disclosure controls and procedures (as defined in Rule 13a-14(c)/15d-14(c) under
the Exchange Act) within 90 days prior to the filing date of this report.  Based
upon that  evaluation,  the  Certifying  Officer  concluded  that our disclosure
controls  and  procedures  are  effective  in timely  alerting  them to material
information  relation to our Company  required to be  disclosed  in our periodic
filings with the SEC.

(b)  Changes in internal controls

The Certifying Officer also has indicated that there were no significant changes
in the Company's  internal  controls or other  factors that could  significantly
affect such controls subsequent to the date of his evaluation, and there were no
corrective  actions  with  regard  to  significant   deficiencies  and  material
weaknesses.


                           PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

The Company is not a party to any material pending legal proceedings and, to the
best of its  knowledge,  no such  action  by or  against  the  Company  has been
threatened.

ITEM 2. CHANGES IN SECURITIES

ISSUANCE OF STOCK FOR SERVICES OR IN SATISFACTION OF OBLIGATIONS

On October 18, 2001,  the Company  adopted a Consulting  and Legal Services Plan
which  provides  for  the  issuance  of  the  Company's  equity   securities  as


                                       26
<PAGE>

compensation for consulting  and/or legal services  provided to the Company from
time to time. The Company limits the recipients of stock issued  pursuant to the
Plan to natural  persons who performed  bona-fide  services to the Company which
were not in connection with the offer or sale of securities in a capital-raising
transaction,  and which do not  directly  or  indirectly  promote or  maintain a
market for the Company's securities. All shares issued pursuant to the Plan were
registered with the Securities and Exchange Commission on Form S-8, as follows:

<table>
<caption>

------------------------------- ---------------------------- ---------------------------- ----------------------------
SEC Registration Number         Effective Date of            Number of securities         Number of securities
                                Registration Statement       issued under equity          remaining available for
                                                             compensation plan            future issuance under
                                                                                          equity compensation plans
                                                                                          (excluding securities
                                                                                          reflected in column (c)
<S>                             <C>                          <C>                          <C>
(a)                             (b)                          (c)                          (d)
------------------------------- ---------------------------- ---------------------------- ----------------------------
          333-71920                      10/19/01                     1,108,334                        0
------------------------------- ---------------------------- ---------------------------- ----------------------------
          333-75348                      12/18/01                       582,500                        0
------------------------------- ---------------------------- ---------------------------- ----------------------------
          333-87086                      04/26/02                     1,477,000                        0
------------------------------- ---------------------------- ---------------------------- ----------------------------
          333-75348                      05/31/02                     2,000,000                        0
------------------------------- ---------------------------- ---------------------------- ----------------------------
</table>

On October 14, 2002,  the Company  issued  220,000  shares of its common stock a
non-U.S.  resident for services and out-of-pocket expenses valued at $22,000, or
$0.10 per share.  The issuance of these  securities was deemed to be exempt from
registration   under  Regulation  S  of  the  Securities  Act.  The  Shares  are
"restricted  securities" pursuant to Regulation S and Rule 144 promulgated under
the  Securities  Act,  and may not be traded in the  United  States  other  than
pursuant to Rule 144,  unless the shares are  registered  or an  exemption  from
registration is available.  The investor  represented that he was aware that the
investment in the  securities was  speculative  involving a high degree of risk,
that  there was no  guarantee  of any gain from  this  investment,  and that the
entire  investment  could  be lost.  Additionally,  the  investor  acknowledged,
certified and warranted to the Company that he:

(a)  is a natural person who acquired the Shares on his own behalf,  and not for
     the benefit of any other person or entity;

(b)  is not,  and was not on the  acquisition  date,  a  resident  in the United
     States of America, any of its territories and possessions, any State of the
     United States of America,  or the District of Columbia and was not and will
     not be an American citizen;

(c)  shall resell the shares only in accordance with Regulation S or pursuant to
     a registration or an available exemption from registration;

(d)  shall not  engage in hedging  transactions  unless in  compliance  with the
     Securities Act; and

                                       27
<PAGE>

(e)  agrees  to  notify  the  Company  at any time and from  time to time of any
     change in residency or citizenship.


ITEM 3. DEFAULTS UPON SENIOR SECURITIES

The  Company  is in  default  of  making  its  purchase  price  payments  on the
acquisitions of AK Drilling,  Inc. and Stothert  Group,  Inc., in the amounts of
$628,000 in default since November 20, 2000 and $546,300 in default since August
6, 2000,  respectively.  The Company intends to enter into negotiations with the
debt holders to  renegotiate  the payment terms for the  outstanding  obligation
under these acquisitions. In the event that the Company is unable to renegotiate
the payment terms of the individual acquisition agreements,  the holders will be
able to take action under their  security  rights on the debt  instruments.  The
outcomes of the  negotiations and any future actions by the debt holders are not
known at this time.  However,  the possibility  exists that the actions taken or
outcome of the negotiations  may result in the acquired  entities being returned
to the  holders in  settlement  and may  possibly  require  the Company to cease
operations.

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

     No matters were  submitted to a vote of the Company's  stockholders  during
the third quarter of 2002.

ITEM 5. OTHER INFORMATION

None

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

(a)  Exhibits.

      Number               Description

     2.1  Agreement  and  Plan of  Reorganization  between  the  Registrant  and
          Passant  Acquisition  Corp.  dated  August 16, 2001  (incorporated  by
          reference to Exhibit 10.1 to the  Registrant's  Current  Report on 8-K
          filed with the Securities and Exchange Commission on August 21, 2000).

     3.1  Articles of Incorporation (incorporated by reference to Exhibit 3.1 to
          the  Registrant's  Form 10-KSB filed with the  Securities and Exchange
          Commission on April 17, 2001).

     3.2  Articles of Amendment to Articles of  Incorporation  (incorporated  by
          reference  to Exhibit 3.2 to the  Registrant's  Form 10-KSB filed with
          the Securities and Exchange Commission on April 17, 2001).

     3.3  By-laws of the Registrant (incorporated by reference to Exhibit 3.3 to
          the  Registrant's  Form 10-KSB filed with the  Securities and Exchange
          Commission on April 17, 2001).

     4.1  Form of Common Stock Certificate (incorporated by reference to Exhibit
          4.1 to the Registrant's Registration Statement on Form SB-2 filed with
          the Securities and Exchange Commission on January 11, 2002).

     10.1 Stock  Option Plan  (incorporated  by reference to Exhibit 10.1 to the
          Registrant's  Registration  Statement  on Form  SB-2  filed  with  the
          Securities and Exchange Commission on January 11, 2002).

                                       28
<PAGE>

     10.2 Convertible  Note issued to Sellars  Financial Inc.  (incorporated  by
          reference to Exhibit 10.2 to the Registrant's  Registration  Statement
          on Form SB-2 filed with the  Securities  and  Exchange  Commission  on
          January 11, 2002).

     10.3 Option  to  Purchase  Property   Agreement  Carl  D.  Huston  and  the
          Registrant   (incorporated   by  reference  to  Exhibit  10.3  to  the
          Registrant's  Registration  Statement  on Form  SB-2  filed  with  the
          Securities and Exchange Commission on January 11, 2002).

     10.4 Share Purchase Agreement between AK Drilling,  Inc. and the Registrant
          (incorporated  by  reference  to  Exhibit  10.4  to  the  Registrant's
          Registration  Statement  on Form SB-2  filed with the  Securities  and
          Exchange Commission on January 11, 2002).

     10.5 Share Purchase  Agreement  between the Shareholders of Stothert Group,
          Inc. and the Registrant  (incorporated by reference to Exhibit 10.5 to
          the  Registrant's  Registration  Statement on Form SB-2 filed with the
          Securities and Exchange Commission on January 11, 2002).

     10.6 Agreement  and Licence  granting  Stothert the right to use the Skewed
          Gas Flow Technology  (incorporated by reference to Exhibit 10.6 to the
          Registrant's  Registration  Statement  on Form  SB-2  filed  with  the
          Securities and Exchange Commission on January 11, 2002).

     10.7 Management  Agreement with St. George Capital Corp.  (incorporated  by
          reference to Exhibit 10.7 to the Registrant's  Registration  Statement
          on Form SB-2 filed with the  Securities  and  Exchange  Commission  on
          January 11, 2002).

     99.1*Certification  pursuant to 18 U.S.C. Section 1350, as adopted pursuant
          to Section 906 of the Sarbanes-Oxley Act of 2002

     99.2*Certification  pursuant  to Section 302 of the  Sarbanes-Oxley  Act of
          2002

* Filed herewith.


(b)  Reports on Form 8-K

          None.

                                   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.

                                                GLOBAL INDUSTRIAL SERVICES, INC.


                                         /s/      Terry Kirby
                                   ---------------------------------------------
                                   By:Terry Kirby, President/Secretary/Treasurer

                                   (PRINCIPAL EXECUTIVE AND FINANCIAL OFFICER)

                                                     Date: November 14, 2002

                                       29
<PAGE>

EXHIBIT 99.1



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


I, Terry Kirby,  Chief Executive  Officer and Chief Financial  Officer of Global
Industrial Services, Inc. (the"Company"),  certify to the best of my knowledge,
pursuant  to 18 U.S.C.  Section  1350 as adopted  pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002, that:

(1)  the  Company's  Quarterly  Report on Form 10-QSB for the  quarterly  period
     ended  September  30,  2002,  as filed  with the  Securities  and  Exchange
     Commission  on the date  hereof  (the "Report")  fully  complies  with the
     requirements  of Section 13(a) or 15(d) of the  Securities  Exchange Act of
     1934; and

(2)  the information  contained in the Report fairly  presents,  in all material
     respects, the financial condition and results of operations of the Company.



Date: November 14, 2002                              /s/ Terry Kirby
                                                     ---------------------------
                                                     Terry Kirby
                                                     Chief Executive Officer and
                                                     Chief Financial Officer


                                       30
<PAGE>

EXHIBIT 99.2



                             CERTIFICATE PURSUANT TO
                PURSUANT TO THE SECURITIES EXCHANGE ACT OF 1934,
                             RULES 13a-14 AND 15d-14
                             AS ADOPTED PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002


I, Terry Kirby,  Chief Executive  Officer and Chief Financial  Officer of Global
Industrial Services, Inc., certify that:

(1)  I have reviewed this quarterly  report on Form 10-QSB of Global  Industrial
     Services, 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;

Date:  November 14, 2002



                                                     /s/ Terry Kirby
                                                     ---------------------------
                                                          Terry Kirby
                                                     Chief Executive Officer and
                                                     Chief Financial Officer

                                       31
<PAGE>