SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                   FORM 10QSB

                  Quarterly Report under Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


For Quarter Ended                                     Commission File Number
- ------------------                                    ----------------------
                                                       0-30145
September 30, 2002                                     33-41063-A

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

Florida                                               59-3723328
- ------------------------------------               --------------------------
State or Other Jurisdiction                           (I.R.S. Employer
of incorporation or organization)                     Identification Number)

3816 W. Linebaugh Ave., Suite 200, Tampa, FL, 33624
- --------------------------------------------------------
(Address of principal Executive Offices                     Zip Code)

Registrant's telephone number, including area code: (813) 964-1300


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

                           Yes   X     No
                               -----      -----

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

                         19,247,767 as of September 30, 2002
<PAGE>

                         GLOBAL ASSETS & SERVICES, INC.

                          (A DEVELOPMENT STAGE COMPANY)
                              FINANCIAL STATEMENTS

                               SEPTEMBER 30, 2002
                                   (UNAUDITED)








<PAGE>



                           ACCOUNTANT'S REVIEW REPORT
                          Certified Public Accountants
                        9175 East Kenyon Ave., Suite 100
                             Denver, Colorado 80237

Michael B. Johnson C.P.A.                             Telephone:  (303) 796-0099
Member:  A.I.C.P.A.                                         Fax:  (303) 796-0137
Colorado Society of C.P.A.s




Board of Directors of
Global Assets and Services, Inc.
Tampa, FL

We have reviewed the accompanying balance sheet for Global Assets & Services,
Inc. (a development stage company) for September 30, 2002 and the related
statements of operations for the three and nine-months ended September 30, 2002
and 2001 and for the period from May 25, 1988 (inception) to September 30, 2002
and cash flows for the nine-months ended September 30, 2002 and 2001 and for the
period from May 25, 1988 (inception) to September 30, 2002, included in the
accompanying Securities and Exchange Commission 10-QSB for the period ended
September 30, 2002. These financial statements are the responsibility of the
Company's management.

We conducted our review in accordance with standards established by the American
Institute of Certified Public Accountants. A review of interim financial
information consists principally of applying analytical procedures to financial
data and making inquiries of persons responsible for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with auditing standards generally accepted in the United States, the objective
of which is the expression of an opinion regarding the financial statements
taken as a whole. Accordingly, we do not express such an opinion.

Based on our review, we are unaware of any material modifications that should be
made to the accompanying financial statements for them to be in conformity with
accounting principles generally accepted in the United States.

We have previously audited, in accordance with auditing standards generally
accepted in the United States, the balance sheet as of December 31, 2001, and
the related statements of operations, stockholders' equity and cash flows for
the year then ended (not presented herein). In our report dated April 18, 2002,
we expressed an unqualified opinion on those financial statements. In our
opinion, the information set forth in the accompanying balance sheet as of
September 30, 2002 is fairly stated in all material respects in relation to the
balance sheet from which it has been derived.


Michael Johnson & Co., LLC
Denver, CO
November 14, 2002

/s/Michael Johnson & Co., LLC



<PAGE>
<TABLE>
<CAPTION>


                        GLOBAL ASSETS AND SERVICES, INC.
                         (A Development Stage Company)
                                 Balance Sheets
                                  (Unaudited)

<S>                                                                          <C>                        <C>




                                                                               September 30,              December 31,
                                                                                   2002                       2001
                                                                             ------------------         ------------------
ASSETS:
Current assets:
   Cash                                                                               $ 12,853                      $ 100
                                                                             ------------------         ------------------

      Total current assets                                                              12,853                        100
                                                                             ------------------         ------------------

Other assets:
    Intangible asset                                                                   656,250                          -
                                                                             ------------------         ------------------

       Total other assets                                                              656,250                          -
                                                                             ------------------         ------------------

TOTAL ASSETS                                                                         $ 669,103                      $ 100
                                                                             ==================         ==================


LIABILITIES AND STOCKHOLDERS' EQUITY:
Current Liabilities:
   Accounts Payable and Accrued Liabilities                                            $ 7,869                   $ 36,162
                                                                             ------------------         ------------------

Total Current Liabilities                                                                7,869                     36,162
                                                                             ------------------         ------------------

Stockholders' Equity:
Common Stock, $.001 Par Value, 100,000,000 shares
   authorized, 19,247,767 shares issued and outstanding                                 19,247                      7,797
Additional Paid-In Capital                                                           1,174,553                    204,566
Deficit accumulated during the development stage                                      (532,566)                  (248,425)
                                                                             ------------------         ------------------

Total Stockholders' Equity (Deficit)                                                   661,234                    (36,062)
                                                                             ------------------         ------------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                           $ 669,103                      $ 100
                                                                             ==================         ==================
</TABLE>
See Accountants Review Report


<PAGE>
<TABLE>
<CAPTION>



<S>                                    <C>               <C>                <C>              <C>                 <C>


                                                                                                              May 25, 1988
                                          Three-Months Ended                   Nine-Months Ended             (Inception) to
                                              September 30,                       September 30,               September 30,
                                         2002             2001               2002             2001                2002
                                         ----             ----               ----             ----                ----

Revenue
   Revenue                                    $ -              $ -                 $ -             $ -            $ 846,545
   (Less) Cost of Sales                         -                -                   -               -             (336,524)
                                       ----------        ---------          ----------       ---------           ----------
Total Income                                    -                -                   -               -              510,021

Operating Expenses
   Doubtful Accounts                            -                -                   -               -               34,469
   Consultant Fees                        221,250                -             236,296               -              578,475
   Legal & Accounting                      18,391                -              28,391               -              107,083
   Advertising                                  -                -                   -               -               14,542
   Interest Expense                             -                -                   -               -                8,577
   Telephone                                  159                -                 159               -               26,401
   Travel                                   5,000                -               5,000               -                5,000
   Rent                                     1,457                -               8,665               -               51,335
   Other General Expenses                     582                -               5,630               -              220,726
                                       ----------        ---------          ----------       ---------           ----------
Total Expenses                            246,839                -             284,141               -            1,046,608
                                       ----------        ---------          ----------       ---------           ----------
Net Loss From Operations                 (246,839)               -            (284,141)              -             (536,587)
                                       ----------        ---------          ----------       ---------           ----------
Other Income
   Interest Income                              -                -                   -               -                4,021
                                       ----------        ---------          ----------       ---------           ----------
Net Loss                               $ (246,839)             $ -          $ (284,141)            $ -           $ (532,566)
                                       ==========        =========          ==========       =========           ==========
Per Share Information:

   Weighted average number of
     common shares outstanding         16,117,767        4,397,767          16,117,767       4,397,767
                                       ----------        ---------          ----------       ----------
Net Loss per Common Share                  *                *                  *                *
                                       ==========        =========          ==========       ==========
* Less than $.01

</TABLE>
See Accountants Review Report

<PAGE>
<TABLE>
<CAPTION>


                        GLOBAL ASSETS AND SERVICES, INC.
                         (A Development Stage company)
                  Statement of Stockholders' Equity (Deficit)
                               September 30, 2002
                                  (Unaudited)

<S>                                  <C>            <C>             <C>           <C>          <C>           <C>        <C>


                                                                                                              Deficit
                                                                                                               Accumulated
                                                                                                 Additonal    During the
                                          Preferred Stock                Common Stock           Paid-In       Development
                                     # of Shares     Amount         # of Shares   Amount        Capital        Stage          Totals
                                     -----------     ------         -----------   ------        -------        -----          ------
-

Balance December 31, 1995                   -               $ -     3,575,268      $ 3,575      $ 87,810     $ (132,399)  $ (41,014)

Issuance for Merger                   693,221        55,556,100        66,533           67           (67)             -  55,556,100
Reverse Merger                       (486,754)      (48,675,400)            -            -             -              - (48,675,400)
Deduction other assets                      -        (6,763,122)            -            -                            -  (6,763,122)
Net Loss for Year                           -                 -             -            -             -        (72,473)    (72,473)
                                     --------       -----------     ---------     --------     ---------     ----------   ----------
Balance - December 31, 1996           206,467           117,578     3,641,801        3,642        87,743       (204,872)      4,091

Preferred Stock to Common Stock      (206,467)         (117,578)      755,966          755       116,823              -           -
Net Loss for year                           -                 -             -            -             -         (4,091)     (4,091)
                                     --------       -----------     ---------     --------     ---------     -----------  ----------
Balance - December 31, 1997                 -                 -     4,397,767        4,397       204,566       (208,963)          -
                                     --------       -----------     ---------     --------     ---------     -----------  ----------
Balance - December 31, 1998                 -                 -     4,397,767        4,397       204,566       (208,963)          -
                                     --------       -----------     ---------     --------     ---------     -----------  ----------
Balance - December 31, 1999                 -                 -     4,397,767        4,397       204,566       (208,963)          -
                                     --------       -----------     ---------     --------     ---------     -----------  ----------
Balance - December 31, 2000                 -                 -     4,397,767        4,397       204,566       (208,963)          -
                                     --------       -----------     ---------     --------     ---------     -----------  ----------
Stock issued for services 12/11             -                 -     3,400,000        3,400             -              -       3,400
Net Loss for year                           -                 -             -            -             -        (39,462)    (39,462)
                                     --------       -----------     ---------     --------     ---------     -----------  ----------
Balance - December 31, 2001                 -                 -     7,797,767        7,797       204,566       (248,425)    (36,062)
                                     --------       -----------     ---------     --------     ---------     -----------  ----------
Stock issued for cash 3/28                  -                 -        20,000           20         7,980              -       8,000
Stock issued for services 3/28              -                 -     6,800,000        6,800        (3,400)             -       3,400
Stock issued for services 4/2               -                 -     1,000,000        1,000             -              -       1,000
Stock issued for services 6/18              -                 -       500,000          500             -              -         500
Stock issued for services 7/12              -                 -       710,000          710        70,327              -      71,037
Stock issued for Asset
Acquistion 8/12                             -                 -     1,750,000        1,750       654,500              -     656,250
Stock issued for services 8/12              -                 -       590,000          590       220,660              -     221,250
Stock issued for cash 9/18                  -                 -        80,000           80        19,920              -      20,000
Net Loss for Period                         -                 -             -            -             -       (284,141)   (284,141)
                                     --------       -----------     ----------    --------     ----------    -----------  ----------
Balance - September 30, 2002                -               $ -     19,247,767    $ 19,247     $1,174,553    $ (532,566)  $ 661,234
</TABLE>
See Accountants Review Report

<PAGE>
<TABLE>
<CAPTION>


                        GLOBAL ASSETS AND SERVICES, INC.
                         (A Development Stage Company)
                            Statement of Cash Flows
                                  (Unaudited)

<S>                                                                     <C>                  <C>                <C>


                                                                                                            May 25, 1988
                                                                            Nine-Months Ended              (Inception) to
                                                                              September 30,                 September 30,
                                                                         2002               2001                2002
                                                                         ----               ----                ----

Cash Flows from Operating Activities:
Net Loss                                                                $(284,141)               $ -            $ (532,566)
Adjustments to reconcile net loss to cash
   used in operating activities:
   Increase (decrease) in accounts payable                                (28,293)                 -                 7,869
   Stocks issued for services                                             297,287                  -               303,987
                                                                        ----------           -------            ----------
Net Cash Flows Used by Operating Activities                               (15,147)                 -              (220,710)
                                                                        ----------           -------            ----------

Cash Flows from Financing Activities:
   Issuance of Common Stock                                                28,000                  -               233,563
                                                                        ---------            -------            ----------
Net Cash Flows Provided by Financing Activities                            28,000                  -               233,563
                                                                        ---------            -------            ----------
Net Increase (Decrease) in Cash                                            12,853                  -                12,853
                                                                        ---------            -------            ----------
Cash and cash equivalents - Beginning of period                                 -                  -                     -
                                                                        ---------            -------            ----------
Cash and cash equivalents - End of period                                $ 12,853                $ -              $ 12,853
                                                                        =========            =======            ==========
Supplemental Disclosure of Cash Flow Information
      Cash paid for Interest                                                  $ -                $ -                   $ -
                                                                        =========            =======            ==========
      Cash paid for Income Taxes                                              $ -                $ -                   $ -
                                                                        =========            =======            ==========
Non-Cash Transactions
    Common stock issued for services                                    $ 297,287                $ -             $ 303,987
      12,469,000 shares issued                                          =========            =======            ==========
    Common stock issued for Asset Acquistion                            $ 656,250                $ -             $ 656,250

</TABLE>

See Accountants Review Report

<PAGE>



                        GLOBAL ASSETS AND SERVICESS, INC.
                          (A Development Stage Company)
                          Notes to Financial Statements
                               September 30, 2002
                                   (Unaudited)



Note 1 - Presentation of Interim Information:

In the opinion of the management of Global Assets & Services, Inc., the
accompanying unaudited financial statements include all normal adjustments
considered necessary to present fairly the financial position as of September
30, 2002, and the results of operations for the three-months and nine-months
ended September 30, 2002 and 2001, and May 25, 1988 (inception) to September 31,
2002, and cash flows for the nine-months ended September 30, 2002 and 2001 and
May 25, 1988 (inception) to September 30, 2002. Interim results are not
necessarily indicative of results for a full year.

The financial statements and notes are presented as permitted by Form 10-QSB,
and do not contain certain information included in the Company's audited
financial statements and notes for the fiscal year ended December 31, 2001.

Note 2 - Purchase Agreement:

On September 30, 2002, a purchase agreement was signed with Tomigel & Junon to
purchase the license to distribute their products for 1,750,000 shares of common
stock at $.375 per share.

Note 3 - Subsequent Event:

On October 12, 2002, the Board of Directors authorized the issuance of 5,000,000
shares of common stock to various persons for consulting and management
services.


<PAGE>

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

     The company re-commenced  operations in early 2002, and has had no revenues
in 2002 but has  incurred  significant  expenses  to date in the start up of its
operations, and expects to continue losses on operations at current rates.

Results of Operations for the quarter ended September 30, 2002 compared to
--------------------------------------------------------------------------------
quarter ended September 30, 2001
- ------------------------------

     The  Company  had no revenue  for the period in 2002 or 2001.  The  company
incurred  expenses  totalling  $246,839  in the  quarter in 2002  compared to no
expenses in the quarter in 2001.  The increased  expenses in the quarter in 2002
consisted of $221,280 in consulting fees,legal and accounting of $18,391, travel
of $5,000 rent of $1,457 and miscellaneous  expenses. The company had a net loss
of  ($246,839)  in the  quarter  in 2002  compared  to no  profit or loss in the
quarter in 2001. The company had a nominal loss per share in the quarter in 2002
and no profit/loss per share in the quarter in 2001.

Comparison of Operating Results for the Nine Months Ended September 30, 2002 and
--------------------------------------------------------------------------------
September 30, 2001
------------------

     The Company had no revenues for the nine month period ended September 30 in
2002 or 2001.  The Company  incurred  expenses in the period in 2002 of $284,141
compared  to none in the  period  in  2001.  The  company  incurred  $15,046  in
consulting,  $28,391 legal and accounting,  $5,000 in travel $8,665 in rent, and
$5,630 in miscellaneous  expenses in the period in 2002 compared to none in 2001
in the period. The company had a net loss of ($284,141) in the nine month period
in 2002  compared  to no  profit  or loss in 2001.  The net loss per  share  was
nominal for the period in 2002 and none in the period in 2001.

The company expects to continue to incur expenses for the forseeable future at a
similar rate as in the nine month period in 2002.  It cannot predict revenues at
the date of this report.

Liquidity and Capital Resources
- -------------------------------

     At September 2002, the Company had $12,853 cash and no other current assets
with which to conduct operations.  The lack of liquidity or liquid assets raises
substantial  doubt about the  Company's  ability to continue as a going  concern
unless it is able to generate  sufficient cash flows to meet its obligations and
sustain operations.


<PAGE>


                           PART II - OTHER INFORMATION

ITEM 1.    LEGAL PROCEEDINGS
- -------    -----------------

           None

ITEM 2.    CHANGES IN SECURITIES
- -------    ---------------------

           On March 28, 2002 the company issued 20,000 shares of common stock
           for $8,000 cash in a private placement.

ITEM 3.    DEFAULT UPON SENIOR SECURITIES
- -------    ------------------------------

           None

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

           None

ITEM 5.    OTHER INFORMATION
- -------    -----------------

           None

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

                8/K October 1, 2002
                8/K August 21, 2002


Exhibit 99.14  Other Consent




<PAGE>


                          GLOBAL ASSETS & SERVICES, INC.
                          (A Development Stage Company)


                                   SIGNATURES

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



                                             GLOBAL ASSETS & SERVICES, INC.



Date: November 19, 2002                      /s/ Bertram Cutler
                                             -----------------------------------
                                            Bertram Cutler, President, CEO-  CFO