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
March 31, 2003                                         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.

                         7,817,767 as of March 31, 2003
<PAGE>


                        GLOBAL ASSETS AND SERVICES, INC.

                          (A DEVELOPMENT STAGE COMPANY)
                              FINANCIAL STATEMENTS

                                 MARCH 31, 2003
                                   (UNAUDITED)


<PAGE>



                           MICHAEL JOHNSON & CO., LLC
                          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



          REPORT ON REVIEW BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS


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


We have reviewed the  accompanying  balance sheet of Global Assets and Services,
Inc. for March 31, 2003 and the related  statement of operations  and cash flows
for the three-months ended March 31, 2003 and 2002, and May 25, 1988 (inception)
to  March  31,  2003,  included  in the  accompanying  Securities  and  Exchange
Commission  Form 10-QSB for the period  ended March 31,  2003.  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, 2002,  and
the related  statements of operations,  stockholders'  equity and cash flows for
the year then ended (not presented herein).  In our report dated March 17, 2003,
we  expressed  an  unqualified  opinion on those  financial  statements.  In our
opinion, the information set forth in the accompanying balance sheet as of March
31, 2003 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
May 20, 2003

<PAGE>
<TABLE>
<CAPTION>

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

<S>                                                                          <C>                        <C>



                                                                                 March 31,                December 31,
                                                                                   2003                       2002
                                                                             ------------------         ------------------
ASSETS:
Current assets:
   Cash                                                                                $ 4,475                    $ 1,365
                                                                             ------------------         ------------------

      Total current assets                                                               4,475                      1,365
                                                                             ------------------         ------------------

TOTAL ASSETS                                                                           $ 4,475                    $ 1,365
                                                                             ==================         ==================


LIABILITIES AND STOCKHOLDERS' EQUITY:
Current Liabilities:
   Accounts Payable and Accrued Liabilities                                           $ 16,869                    $ 7,869
   Notes Payable - Shareholder                                                          10,000                          -
                                                                             ------------------         ------------------

Total Current Liabilities                                                               26,869                      7,869
                                                                             ------------------         ------------------

Stockholders' Equity:
Common Stock, $0.01 Par Value, 100,000,000 shares                                       29,292                     24,192
   authorized, 29,392,767 shares issued and outstanding
   in 2003, 24,192,767 shares outstanding in 2002                                    2,816,858                  2,320,958
Additional Paid-In Capital                                                          (2,868,544)                (2,351,654)
                                                                             ------------------         ------------------
Deficit accumulated during the development stage
                                                                                       (22,394)                    (6,504)
                                                                             ------------------         ------------------
Total Stockholders' Deficit
                                                                                       $ 4,475                    $ 1,365
                                                                             ==================         ==================
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

See Accountants Review Report
</TABLE>

<PAGE>
<TABLE>
<CAPTION>

                        GLOBAL ASSETS AND SERVICES, INC.
                           (Development Stage Company)
                            Statements of Operations
                                  (Unaudited)
<S>                                            <C>                 <C>                 <C>

                                                                                     May 25, 1988
                                                  Three-Months Ended                (Inception) to
                                                       March 31,                       March 31,
                                               2003                2002                  2003
                                               ----                ----                  ----

Revenue
   Revenue                                           $ -                 $ -              $ 846,545
   (Less) Cost of Sales                                -                   -               (336,524)
                                               ---------           ---------           ------------
Total Income                                           -                   -                510,021
                                               ---------           ---------           ------------
Operating Expenses
   Doubtful Accounts                                   -                   -                 34,469
   Consultant Fees                               258,299                   -              1,689,811
   Legal & Accounting                              2,000              10,000                 99,083
   Advertising                                         -                   -                 14,542
   Directors and Officers Fees                   255,000                   -              1,229,500
   Interest Expense                                    -                   -                  8,577
   Telephone                                         707                   -                 28,523
   Travel                                              -                   -                  7,500
   Rent                                                -               2,894                 47,096
   Other General Expenses                            884               3,073                223,485
                                               ---------           ---------           ------------
Total Expenses                                   516,890              15,967              3,382,586
                                               ---------           ---------           ------------
Net Loss From Operations                        (516,890)            (15,967)            (2,872,565)
                                               ---------           ---------           ------------
Other Income
   Interest Income                                     -                   -                  4,021
                                               ---------           ---------           ------------
Net Loss                                       $(516,890)          $ (15,967)          $ (2,868,544)
                                               =========           =========           ============
Per Share Information:

   Weighted average number of
     common shares outstanding                24,192,767           7,797,767
                                              ----------           ---------
Net Loss per Common Share                        *                   *
                                              ==========           =========
* Less than $.01

See Accountants Review Report
</TABLE>

<PAGE>
<TABLE>
<CAPTION>

                        GLOBAL ASSETS AND SERVICES, INC.
                          (Development Stage Company)
                  Statement of Stockholders' Equity (Deficit)
                                 March 31, 2003
                                  (Unaudited)
<S>                                     <C>           <C>             <C>            <C>        <C>         <C>         <C>

                                                                                                                Accumulated
                                                                                                  Additional    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)          -
                                        --------      -----------     ----------     --------   ----------  -----------  -----------
Issuance of stock for services 12/11           -                -      3,400,000        3,400            -            -       3,400
Loss for year                                  -                -              -            -            -      (39,462)    (39,462)
                                        --------      -----------     ----------     --------   ----------  -----------  -----------
Balance - December 31, 2001                    -                -      7,797,767        7,797      204,566     (248,425)    (36,062)
                                        --------      -----------     ----------     --------   ----------  -----------  -----------
Issuance of stock for cash 3/28                -                -         20,000           20        1,980            -       2,000
Issuance of stock for services 3/28            -                -      6,800,000        6,800      673,200            -     680,000
Issuance of stock for services 4/2             -                -      1,000,000        1,000       99,000            -     100,000
Issuance of stock for services 6/18            -                -        500,000          500       49,500            -      50,000
Issuance of stock for services 7/12            -                -        710,000          710       70,327            -      71,037
Issuance of stock for Asset Acquisition 8/12   -                -      1,750,000        1,750      645,500            -     647,250
Issuance of stock for services 8/12            -                -        590,000          590       58,410            -      59,000
Issuance of stock for cash 9/18                -                -         80,000           80       19,920            -      20,000
Issuance of stock for services 10/15           -                -      4,945,000        4,945      489,555            -     494,500
Loss for year                                  -                -              -            -            -   (2,103,229) (2,103,229)
                                        --------      -----------     ----------     --------   ----------  -----------   ----------
Balance - December 31, 2002                    -                -     24,192,767       24,192    2,311,958   (2,351,654)    (15,504)
                                        --------      -----------     ----------     --------   ----------  -----------   ----------
Issuance of stock for services 1/15            -                -      2,550,000        2,550      252,450            -     255,000
Issuance of stock for licenses 3/11            -                -      2,550,000        2,550      252,450            -     255,000
Loss for period                                -                -              -            -            -     (516,890)   (516,890)
                                        --------      -----------     ----------     --------   ----------  -----------   ---------
Balance - March 31, 2003                       -              $ -     29,292,767     $ 29,292    $2,816,858 $(2,868,544)  $ (22,394)
                                        ========      ===========     ==========     ========    ========== ===========   ==========
See Accountants Review Report
</TABLE>

<PAGE>
<TABLE>
<CAPTION>


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

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

                                                                                                            May 25, 1988
                                                                            Three-Months Ended             (Inception) to
                                                                                March 31,                     March 31,
                                                                         2003               2002                2003
                                                                         ----               ----                ----

Cash Flows from Operating Activities:
Net Loss                                                                $ (516,890)          $(15,967)        $ (2,868,544)
Issuance of stock for services                                             504,900                  -            1,962,837
Increase in notes payable - shareholder                                     10,000                  -               10,000
Increase in accounts payable                                                 6,465             10,000               16,869
                                                                        ----------           --------         ------------
Net Cash Flows Used by Operating Activities                                  4,475             (5,967)            (878,838)
                                                                        ----------           --------         ------------
Cash Flows from Financing Activities:
   Issuance of Common Stock for Asset Acquisition                                -                  -              656,250
   Issuance of Common Stock                                                      -              8,000              227,063
                                                                        ----------           --------         ------------
Net Cash Flows Provided by Financing Activities                                  -              8,000              883,313
                                                                        ----------           --------         ------------
Net Increase (Decrease) in Cash                                              4,475              2,033                4,475
                                                                        ----------           --------         ------------
Cash and cash equivalents - Beginning of period                                  -                100                    -
                                                                        ----------           --------         ------------
Cash and cash equivalents - End of period                                  $ 4,475            $ 2,133              $ 4,475
                                                                        ==========           ========         ============
Supplemental Disclosure of Cash Flow Information
      Cash paid for Interest                                                   $ -                $ -                  $ -
                                                                        ==========           ========         ============
      Cash paid for Income Taxes                                               $ -                $ -                  $ -
                                                                        ==========           ========         ============
Non-Cash Transactions
      Common stock issued in exchange for services                        $504,900                $ -           $1,962,837
                                                                        ==========           ========         ============
See Accountants Review Report
</TABLE>

<PAGE>

                        GLOBAL ASSETS AND SERVICES, INC.
                          (A Development Stage Company)
                          Notes to Financial Statements
                                 March 31, 2003
                                   (Unaudited)



Note 1 - Presentation of Interim Information:

In the  opinion of the  management  of Global  Assets and  Services,  Inc.,  the
accompanying  unaudited  financial  statements  include  all normal  adjustments
considered  necessary to present  fairly the financial  position as of March 31,
2003 and the results of  operations  and cash flows for the  three-months  ended
March 31, 2003 and 2002, and May 25, 1988 (inception) to March 31, 2003. 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, 2002.

Note 2 - Going Concern:

The Company's financial statements have been presented on the basis that it is a
going concern, which contemplates the realization of assets and the satisfaction
of liabilities in the normal course of business.

The  Company is in the  development  stage and has not earned any  revenue  from
operations.  The  Company's  ability to continue as a going concern is dependent
upon its  ability  to develop  additional  sources of capital or locate a merger
candidate  and  ultimately,  achieve  profitable  operations.  The  accompanying
financial  statements do not include any adjustments  that might result from the
outcome of these uncertainties.  Management is seeking new capital to revitalize
the Company.

<PAGE>






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


RESULTS OF OPERATIONS FOR THREE MONTH PERIOD ENDED MARCH 31, 2003
- -----------------------------------------------------------------

The Company incurred expenses and general and administrative costs for the three
month  period in 2003 of  $516,890  compared  to $15,967 in 2002.  There were no
revenues  for the period in 2003 or 2002.  The Company  recorded net loss in the
period in 2003 of  ($516,890)  and loss  of($15,967)  in 2002.  The net loss per
share was nominal in the period in 2003 and in 2002.  The largest  components of
the operating  expenses in 2003 in the quarter were $258,299 in consultant fees,
$255,000 in directors and officers fees, and 42,000 in accounting  costs. In the
quarter in 2002 the Company incurred $10,000 in legal and accounting,  $2,894 in
rent and $3,073 in other expenses.

LIQUIDITY AND CAPITAL RESOURCES

The  Company  had  minimal  cash  capital  at the end of the  period,  which  is
insufficient  for any  significant  operations.  The Company will need to either
borrow  or make  private  placements  of stock in order to fund  operations.  No
assurance exists as to the ability to achieve loans, or make private  placements
of stock.  The Company is seeking capital  sources for  investment,  there is no
assurance that sources can be found.

EVALUATION OF INTERNAL AND DISCLOSURE CONTROLS
----------------------------------------------
Management  of the Company  has  evaluated  the  effectiveness  of the  issuer's
disclosure  controls  and  procedures  as of a date  within 90 days prior to the
filing  date of the  report  (evaluation  date)  and  have  concluded  that  the
disclosure  controls and procedures are adequate and effective  based upon their
evaluation  as of the  evaluation  date.  There were no  significant  changes in
internal controls or in other factors that could  significantly  affect internal
controls subsequent to the date of the most recent evaluation of such, including
any  corrective  actions with regard to  significant  deficiencies  and material
weaknesses.


<PAGE>

                           PART II - OTHER INFORMATION

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

           None

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

           In the quarter, the Company issued common shares for services
rendered, and 2,550,000 common shares for the EPONS product license.

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



<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: May 23, 2003                      /s/ Bertram Cutler
                                             -----------------------------------
                                             Bertram Cutler, President





<PAGE>

                        CERTIFICATION PURSUANT TO SECTION
                          302 OF THE SARBANES OXLEY ACT


I, Bertram Cutler, certify that:

1. I have  reviewed  this  quarterly  report on Form  10-QSB of  Global Assets
& 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 annual report;

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

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

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

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

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

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

<PAGE>

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

6. The  registrant's  other  certifying  officers  and I have  indicated in this
quarterly report whether there were significant  changes in internal controls or
in other factors that could significantly affect internal controls subsequent to
the date of our most recent  evaluation,  including any corrective  actions with
regard to significant deficiencies and material weaknesses.

Date: May 23, 2003


/s/Bertram Cutler
-----------------------
Bertram Cutler, President