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
June 30, 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. 31,192,767 as of June 30, 2003
<PAGE>

                        GLOBAL ASSETS AND SERVICES, INC.

                          (A DEVELOPMENT STAGE COMPANY)
                              FINANCIAL STATEMENTS

                                  JUNE 30, 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 June 30, 2003 and the related statement of operations for the three and
six-months ended June 30, 2003 and 2002 and the period May 25, 1988 (inception)
to June 30, 2003, and cash flows for the six-months ended June 30, 2003 and
2002, and May 25, 1988 (inception) to June 30, 2003, included in the
accompanying Securities and Exchange Commission Form 10-QSB for the period ended
June 30, 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 June
30, 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
August 5, 2003

<PAGE>
<TABLE>
<CAPTION>


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


<S>                                                                          <C>                        <C>




                                                                                 June 30,                 December 31,
                                                                                   2003                       2002
                                                                             ------------------         ------------------
ASSETS:
Current assets:
   Cash                                                                                $ 5,321                    $ 1,365
                                                                             ------------------         ------------------

      Total current assets                                                               5,321                      1,365
                                                                             ------------------         ------------------

TOTAL ASSETS                                                                           $ 5,321                    $ 1,365
                                                                             ==================         ==================


LIABILITIES AND STOCKHOLDERS' EQUITY:
Current Liabilities:
   Accounts Payable and Accrued Liabilities                                           $ 16,870                    $ 7,869
   Notes Payable - Shareholder                                                          16,500                          -
                                                                             ------------------         ------------------

Total Current Liabilities                                                               33,370                      7,869
                                                                             ------------------         ------------------

Stockholders' Equity:
Common Stock, $0.001 Par Value, 100,000,000 shares                                      31,192                     24,192
   authorized, 31,192,767 shares issued and outstanding
   in 2003, 24,192,767 shares outstanding in 2002
Additional Paid-In Capital                                                           3,004,958                  2,320,958
Deficit accumulated during the development stage                                    (3,064,199)                (2,351,654)
                                                                             ------------------         ------------------

Total Stockholders' Deficit                                                            (28,049)                    (6,504)
                                                                             ------------------         ------------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                             $ 5,321                    $ 1,365
                                                                             ==================         ==================
</TABLE>
See Accountants Review Report

<PAGE>
<TABLE>
<CAPTION>

                        GLOBAL ASSETS AND SERVICE, INC.
                         (A Development Stage Company)
                           Statements of Opaerations
                                  (Unaudited)
<S>                                     <C>              <C>             <C>              <C>              <C>


                                                                                                              May 25, 1988
                                              Three-Months Ended                 Six-Months Ended           (Inception) to
                                                    June 30,                          June 30,                June 30,
                                            2003              2002            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                          10,000           15,046         268,299           15,046         1,699,811
   Legal & Accounting                          500           10,000           2,500           10,000            99,583
   Advertising                                   -                -               -                -            14,542
   Directors and Officers Fees             180,000                -         435,000                -         1,409,500
   Interest Expense                              -                -               -                -             8,577
   Telephone                                   423                -           1,130                -            28,946
   Travel                                        -                -               -                -             7,500
   Rent                                      2,873            4,314           2,873            7,208            49,969
   Business Expenses                         1,859            1,975           2,743            5,048           225,344
                                        ----------       ----------      ----------       ----------       -----------
Total Expenses                             195,655           31,335         712,545           37,302         3,578,241
                                        ----------       ----------      ----------       ----------       -----------
Net Loss From Operations                  (195,655)         (31,335)       (712,545)         (37,302)       (3,068,220)
                                        ----------       ----------      ----------       ----------       -----------
Other Income
   Interest Income                               -                -               -                -             4,021
                                        ----------       ----------      ----------       ----------       -----------
Net Loss                                $ (195,655)       $ (31,335)      $(712,545)       $ (37,302)      $(3,064,199)
                                        ==========       ==========      ==========       ==========       ===========
Per Share Information:

   Weighted average number of
     common shares outstanding          29,292,767       24,192,767      29,292,767       24,192,767

Net Loss per Common Share                  *                 *               (.02)                *
                                        ==========       ==========      ==========       ==========
* Less than $.01

</TABLE>
See Accountants Review Report

<PAGE>
<TABLE>
<CAPTION>


                        GLOBAL ASSETS AND SERVICES,INC.
                         (A Devleopment Stage Company)
                  Statement of Stockholders' Equity (Deficit)
                                 June 30, 2003
                                  (Unaudited)

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



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 services 3/11      -                -      2,550,000        2,550       252,450             -         255,000
Issuance of stock for services 4/20      -                -        100,000          100         9,900             -          10,000
Issuance of stock for services 5/28      -                -      1,800,000        1,800       178,200             -         180,000
Loss for period                          -                -              -            -             -      (712,545)       (712,545)
                                    --------    -----------     ----------     --------     ----------  -----------      -----------
Balance - June 30, 2003                 -              $ -     31,192,767     $ 31,192     $3,004,958  $(3,064,199)     $  (28,049)
                                    ========    ===========     ==========     ========     ==========  ===========      ===========

</TABLE>
See Accountants Review Report


<PAGE>
<TABLE>
<CAPTION>


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


                                                                                                            May 25, 1988
                                                                             Six-Months Ended              (Inception) to
                                                                                 June 30,                      June 30,
                                                                         2003               2002                2003
                                                                         ----               ----                ----

Cash Flows from Operating Activities:
Net Loss                                                                $ (712,545)         $ (37,302)        $ (3,064,199)
Issuance of stock for services                                             700,000              4,900            2,152,837
Increase in notes payable - shareholder                                     16,500                  -               16,500
Increase in accounts payable                                                     1             24,875               16,870
                                                                        ----------          ---------         ------------
Net Cash Flows Used by Operating Activities                                  3,956             (7,527)            (877,992)
                                                                        ----------          ---------         ------------
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                                              3,956                473                5,321
                                                                        ----------          ---------         ------------
Cash and cash equivalents - Beginning of period                              1,365                100                    -
                                                                        ----------          ---------         ------------
Cash and cash equivalents - End of period                                  $ 5,321              $ 573              $ 5,321
                                                                        ==========          =========         ============
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                        $700,000                $ -           $2,152,837
                                                                        ==========          =========         ============

</TABLE>
See Accountants Review Report




<PAGE>



                        GLOBAL ASSETS AND SERVICES, INC.
                          (A Development Stage Company)
                          Notes to Financial Statements
                                  June 30, 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 June 30,
2003 and the results of operations for the three and six-months ended June 30,
2003 and 2002 and the period May 25, 1988 (inception) to June 30, 2003, and the
related cash flows for the six-months ended June 30, 2003 and 2002 and the
period May 25, 1988 (inception) to June 30, 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 JUNE 30, 2003
- -----------------------------------------------------------------

The company had no revenues in the quarter.  The Company  incurred  expenses and
general and  administrative  costs for the six 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.

RESULTS OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2003
------------------------------------------------------------

The company had no revenues in the six month period.  The company incurred a
total of $712,545 in expenses in the period in 2003 compared to $37,302 in the
same period in 2002.  The significant increase in expenses occurred in 2003 due
to the issuance of $268,299 in stock for consulting fees and the issuance of
$435,000 in stock for officers and directors fees.  In 2002, in the period,
$15,046 was incurred for consulting and no expense was incurred for officer
and director fees.  The company incurred a loss of ($712,545) in the period in
2003 compared to a loss of (#37,302) in the period in 2002.  The net loss per
share was ($.02)  for the period in 2003 compared to less than ($.01)
per share for the period in 2002.

The company expects the trend of losses to continue until it can generate
revenues.

<PAGE>

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.

The Company remains in the development stage and, since inception,  has
experienced  significant  liquidity  problems  and  has no  significant  capital
resources now and has stockholder's deficit of ($28,000) at June 30, 2003.
The Company has no current assets and no other assets at June 30, 2003.

The Company is unable to carry out any plan of  business  without  funding.  The
Company  cannot predict to what extent its current lack of liquidity and capital
resources will impair the  consummation of a business  combination or whether it
will incur  further  operating  losses  through any  business  entity  which the
Company  may  eventually  acquire.  There is no  assurance  that the Company can
continue as a going concern without substantial  funding,  for which there is no
source.

The  Company  estimates  it will  require  $25,000 to  $30,000  to cover  legal,
accounting, transfer and miscellaneous costs of being a reporting company in the
next fiscal year.  The Company  will have a cash  shortfall  for current  annual
reporting  costs of at least  $25,000  to  $30,000,  for  which it has no source
except shareholder loans or contributions, none of which have been committed.

The  Company  has no cash  for any  operations.  It  will  have to make  private
placements  of  stock,  for  which  it has no  sources,  or  obtain  loans  from
shareholders,  to have  any  cash  for even  limited  operations.  There  are no
committed loan sources at this time.

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>

NEED FOR ADDITIONAL FINANCING

The Company does not have capital  sufficient to meet the Company's  cash needs,
including the costs of compliance with the continuing reporting  requirements of
the  Securities  Exchange  Act of 1934.  The Company  will have to seek loans or
equity placements to cover such cash needs. There is no assurance, however, that
without funds it will ultimately allow registrant to carry out any business. The
Company's needs for additional  financing are likely to increase  substantially.
The  Company  will  need to raise  additional  funds  to  conduct  any  business
activities in the next twelve months.

No commitments to provide additional funds have been made by management or other
stockholders.  Accordingly,  there can be no assurance that any additional funds
will be  available  to the Company to allow it to cover its expenses as they may
be incurred. As of the date of this report management does not have any plan for
raising additional capital,  and does not know if or when it can or will develop
a plan.

Irrespective of whether the Company's cash assets prove to be inadequate to meet
the  Company's  operational  needs,  the Company  will  compensate  providers of
services by issuances of stock in lieu of cash.

The Company has no plans for any  research  and  development  in the next twelve
months.  The Company has no plans at this time for  purchases  or sales of fixed
assets which would occur in the next twelve months.

The Company has no expectation or anticipation of significant  changes in number
of  employees  in the next  twelve  months.

The Company's auditor has issued a "going concern"  qualification as part of his
opinion in the Audit Report. There is substantial doubt about the ability of the
Company to  continue as a "going  concern."  The  Company  has no  business,  no
capital, debt in excess of $33,370, all of which is current, no cash, no assets,
except intangible  licenses which are illiquid and no capital  commitments.  The
effects of such conditions could easily be to cause the Company's bankruptcy.
<PAGE>

                           PART II - OTHER INFORMATION

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

           None

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

           In the quarter, the Company issued 1,900,000 common shares for
consulting and officer and director fees.  Such shares were valued at $188,100
upon issuance , even though such shares are restricted.  The company relied upon
Section 4(2) of the Secruities Act of 1933 for the exemption from Registration.


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

           None


<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: August 11, 2003                      /s/ Bertram Cutler
                                             -----------------------------------
                                             Bertram Cutler, President