<PAGE>

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                                 WASHINGTON D.C.

                                   FORM 10-QSB

     [X]  Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
          Exchange Act of 1934, For the Quarter Ended March 31, 2003

     [ ]  Transitional Report Pursuant to Section 13 or 15(d) of the
          Securities Exchange Act of 1934

                          Commission File No. 000-28459

                      ADVANCED PLANT PHARMACEUTICALS, INC.
                      ------------------------------------

             (Exact name of Registrant as specified in its charter)

           Delaware                                    59-2762023
           --------                                    ----------
 (State of other jurisdiction            (I.R.S. Employer Identification Number)
of incorporation or organization)

                  43 West 33rd Street, New York, New York 10001
                    -----------------------------------------
                     Address of principal executive offices

        Registrant's telephone number, including area code: 212-695-3334

        Securities registered pursuant to Section 12(b) of the Act: NONE


                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant filed all documents and reports required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court. Yes [ ] No [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: May 19, 2003;  shares of common stock

Transitional Small Business Disclosure Format (Check one): Yes [  ] No [X]

<PAGE>


                      ADVANCED PLANT PHARMACEUTICALS, INC.

                               Form 10-QSB- Index

                      For the Quarter Ended March 31, 2003


PART I                                                                Page

Item 1. Consolidated Financial Statements                             F-1
Item 2. Management Discussion and Analysis                            1
Item 3. Controls and Procedures                                       4

PART II

Item 1. Legal Proceedings                                             4
Item 2. Change in Securities                                          5
Item 3. Defaults Upon Senior Securities                               5
Item 4. Submission of Matters to a Vote of Security
          Holders Disclosures                                         5
Item 5. Other Information                                             5
Item 6. Exhibits and Reports on Form 8-K                              5

Signatures                                                            7
Certifications                                                        8




     This Form 10-QSB contains forward looking statements, within the meaning of
Section 27A of the  Securities  Act of 1933 and  Section  21E of the  Securities
Exchange Act of 1934,  regarding future events and the future performance of the
Company  involve risks and  uncertainties  which may cause our actual results in
future periods to be materially different from any future performance  suggested
herein.  We believe that its business  strategy  that  includes  focus on future
acquisitions is not unique.  There can be no assurance that our strategy will be
successful. There can be no assurance that sufficient capital can be obtained to
market  ourselves and increase our market share and our  performance  and actual
results  could differ  materially  from those  projected in the forward  looking
statements contained herein.


<PAGE>


                                     PART I


Item 1. CONSOLIDATED FINANCIAL STATEMENTS

                      ADVANCED PLANT PHARMACEUTICALS, INC.

                             CONDENSED BALANCE SHEET

                                 MARCH 31, 2003
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                     Assets

Current assets
<S>                                                                <C>
     Cash and cash equivalents                                     $     12,182
     Inventory                                                           56,271

           Total current assets                                          68,453

Other assets
     Intangible assets - net                                            719,920
     Other assets                                                         8,544

           Total other assets                                           728,464

           Total assets                                            $    796,917


                    Liabilities and Stockholders' Deficiency

Current liabilities
     Accounts payable and accrued liabilities                      $    242,423
     Due to stockholder - asset acquisition                           1,440,000
     Loans payable - stockholders                                     1,784,675
     Due to distributor                                                 103,500

           Total liabilities                                          3,570,598

Stockholders' deficiency
     Preferred - $.0007 par value,
         10,000,000 shares authorized,
         2,500,000 shares issued and outstanding                          1,750
     Common - $.0007 par value,
         600,000,000 shares authorized;
         246,939,950 shares issued and outstanding                      173,278
     Paid-in-capital                                                  8,005,172
     Deficit                                                        (10,953,881)

           Total stockholders' deficiency                            (2,773,681)

           Total liabilities and stockholders' deficiency          $    796,917
</TABLE>

          The accompanying notes are an integral part of the condensed
                             financial statements.


                                       1
<PAGE>

                      ADVANCED PLANT PHARMACEUTICALS, INC.

                       CONDENSED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

                                             Three Months Ended
                                                 March 31:
                                        --------------------------
                                           2003             2002
                                        ---------        ---------
Revenues                                $   4,529        $   1,788

Expenses                                  207,548          438,606
                                        ---------        ---------

         Operating loss                  (203,019)        (436,818)

Other expense                                 442               --
                                        ---------        ---------

         Net loss                       $(203,461)       $(436,818)
                                        =========        =========

  Loss per share of  common stock
    Basic and diluted                   $    (.00)       $    (.00)
                                        =========        =========


          The accompanying notes are an integral part of the condensed
                             financial statements.


                                       2
<PAGE>


                      ADVANCED PLANT PHARMACEUTICALS, INC.

                       CONDENSED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)


<TABLE>
<CAPTION>
                                                              Three Months Ended March 31,
                                                                 2003             2002
                                                               ---------        ---------
Cash flows from operating activities
<S>                                                            <C>              <C>
     Net cash provided by (used in) operations                 $(292,700)       $ 204,871
                                                               ---------        ---------
Cash flows from financing activities
     Loans payable - stockholders - net                          304,663               --
     Payments on short-term loans payable - net                       --         (212,000)
                                                               ---------        ---------
     Net cash provided by (used in) financing activities         304,663         (212,000)
                                                               ---------        ---------
Net increase (decrease) in cash and cash equivalents              11,963           (7,129)

Cash and cash equivalents - beginning of period                      219            7,316
                                                               ---------        ---------
Cash and cash equivalents - end of period                      $  12,182        $     187
                                                               =========        =========

Supplemental cash flow information:
         Cash paid during the year for:
                  Interest                                     $      --        $      --
                                                               =========        =========
                  Income taxes                                 $      --        $      --
                                                               =========        =========

Non-cash transaction:
         Preferred stock issued for services                   $   1,750        $      --
                                                               =========        =========
</TABLE>

          The accompanying notes are an integral part of the condensed
                             financial statements.


                                       3
<PAGE>


                      ADVANCED PLANT PHARMACEUTICALS, INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)

The accompanying  unaudited condensed financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America for interim  financial  information  and with the  instructions  to Form
10-QSB and Item 310 of Regulation  SB.  Accordingly,  they do not include all of
the  information  and  footnotes  required by  accounting  principles  generally
accepted in the United States of America for annual financial statements. In the
opinion of management, all adjustments (consisting of normal recurring accruals)
considered  necessary  for a fair  presentation  have been  included.  Operating
results for the three months ended March 31, 2003 are not necessarily indicative
of the results that may be expected for the year ending  December 31, 2003.  For
further  information,  refer to the financial  statements and footnotes  thereto
included in the Form 10-KSB for the year ended December 31, 2002.


1.   SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

     Advanced Plant  Pharmaceuticals,  Inc. ("The Company" or "APPI") focuses on
     the sale of plant based dietary  health  supplements.  The Company owns the
     rights to a thirteen  step  manufacturing  process,  which  utilizes  whole
     plants to manufacture all natural dietary supplements.  The Company intends
     to use this process to  manufacture  products  that it hopes to  distribute
     worldwide   through  various  sales   distribution   contracts.   APPI  was
     incorporated  in November  1994 and had devoted  most of its efforts  since
     inception  to  1999  conducting  research  and  development  and  acquiring
     agreements to the rights of this process and one major sinus  product.  The
     Company's operations are located in Long Island, New York and its corporate
     offices are located in New York City.

     These  financial  statements  have been prepared  assuming that the Company
     will continue as a going concern. The Company presently has operating risks
     and  liquidity  concerns  and  has  incurred  an  accumulated   deficit  of
     $10,953,881  at March 31, 2003 and  current  liabilities  exceeded  current
     assets by  $3,502,145.  There can be no assurance  that the Company will be
     able to  successfully  acquire  the  necessary  capital to  mitigate  their
     operating risks and continue their on-going  development  efforts and bring
     their  products to the  commercial  market.  These  factors,  among others,
     create a substantial uncertainty about the Company's ability to continue as
     a going concern.

     CONTROL BY PRINCIPAL STOCKHOLDERS

     The director, executive officers and other related parties own beneficially
     and in the aggregate,  the majority of the voting power of the  outstanding
     shares of the preferred stock and common stock of the Company. Accordingly,
     the director,  executive officers and related parties,  if they voted their
     shares  uniformly,  would have the ability to control the  approval of most
     corporate  actions,  including  increasing the authorized  capital stock of
     APPI and the dissolution, merger or sale of all of the Company's assets.

     CASH AND CASH EQUIVALENTS

     The Company  considers all highly  liquid debt  securities  purchased  with
     original  or  remaining  maturities  of  three  months  or  less to be cash
     equivalents.


                                       4
<PAGE>

                      ADVANCED PLANT PHARMACEUTICALS, INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)


1.   SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Continued)

     FAIR VALUE OF FINANCIAL INSTRUMENTS

     The carrying  amounts of cash and cash  equivalents,  accounts  receivable,
     accounts  payable and accrued  liabilities  approximate  fair market  value
     because of the short maturity of those  instruments.  It is not practicable
     to estimate the fair value of the loans payable to stockholders  due to the
     fact that they are related party transactions.

     INVENTORIES

     Inventories are stated at the lower of cost or market.  The Company intends
     to  determine  cost on a  first-in,  first-out  basis.  At March 31,  2003,
     inventories  consisted of $47,670 of raw  materials and $ 8,601 of finished
     goods and are stated at estimated cost.

     REVENUE RECOGNITION

     Product revenue is recognized  upon shipment to customers.  The Company has
     adopted  Securities and Exchange  Commission's  Staff  Accounting  Bulletin
     (SAB) No. 101, which provides guidance on the recognition, presentation and
     disclosure of revenue in financial statements.

     PROPERTY AND EQUIPMENT

     Property and  equipment are stated at cost less  accumulated  depreciation.
     Depreciation is recorded principally using the straight-line  method, based
     on the  estimated  useful  lives  of the  assets  (machinery  and  computer
     equipment, 3-10 years).

     LONG LIVED ASSETS TO BE DISPOSED OF AND IMPAIRMENT OF LONG LIVED ASSETS

     The Company  adopted SFAS No.144 in 2002.  SFAS 144 retains the fundamental
     provisions of SFAS 121 for recognizing and measuring  impairment  losses on
     long-lived  assets held for use and long-lived  assets to be disposed of by
     sale, while also resolving  significant  implementation  issues  associated
     with SFAS 121. The  adoption of SFAS 144 did have a material  effect on the
     Company's financial position as of March 31, 2003.

     INTANGIBLE ASSETS

     The Company  accounts for  intangible  assets in accordance  with SFAS 142.
     Such assets with useful lives are amortized on a  straight-line  basis over
     the estimated useful life of the asset.  Intangible assets are reviewed for
     impairment  whenever events or changes in  circumstances  indicate that the
     carrying amount may not be recoverable.  If the fair value is less than the
     carrying amount of the asset, an impairment loss is then recognized.


                                       5
<PAGE>

                      ADVANCED PLANT PHARMACEUTICALS, INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)

1.   SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Continued)

     STOCK ISSUED FOR SERVICES

     The value of stock issued for services are based on  management's  estimate
     of the fair value of the  Company's  stock at the date of issue or the fair
     value of the services received, whichever is more reliably measurable.

     RESEARCH AND DEVELOPMENT COSTS

     Research and development costs are expensed as incurred.

     INCOME TAXES

     The Company uses the asset and liability  method of  accounting  for income
     taxes as required by Statement of Financial  Accounting  Standards  No. 109
     ("SFAS  109"),   Accounting  For  Income  Taxes.   SFAS  109  requires  the
     recognition of deferred tax assets and  liabilities for the expected future
     tax consequences of temporary  differences between the carrying amounts and
     the tax basis of certain assets and liabilities.  Since its inception,  the
     Company has incurred net operating losses.

     The  Company  has a  carryforward  federal  net  operating  tax loss  carry
     forwards  expiring in the years 2010 to 2023.  The potential tax benefit of
     this net operating loss has been offset by a full valuation allowance.  The
     utilization  of the net  operating  loss may be  subject  to a  substantial
     limitation due to the "Change of ownership provisions" under Section 382 of
     the Internal Revenue Code and similar state provisions. Such limitation may
     result  in the  expiration  of the  net  operating  loss  before  its  full
     utilization.

     LOSS PER SHARE

     The Company computed basic and diluted loss per share amounts for March 31,
     2003 and 2002  pursuant to the Statement of Financial  Accounting  Standard
     (SFAS) No.  128,  "Earnings  Per  Share."  No  dilution  resulted  from the
     9,000,000 and 5,500,000  employee  stock options  outstanding  at March 31,
     2003 and 2002, respectively, because of the net loss.

     Basic loss per common share  ("LPS") is  calculated by dividing net loss by
     the weighted average number of common shares outstanding during the period.
     Diluted  earnings per common share are calculated by adjusting the weighted
     average outstanding shares, assuming conversion of all potentially dilutive
     stock options.


                                       6
<PAGE>


                      ADVANCED PLANT PHARMACEUTICALS, INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)


1.   SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Continued)

     LOSS PER SHARE (Continued)

     The numerator and  denominator  used in the basic and diluted LPS of common
     stock computations are presented in the following table:

<TABLE>
<CAPTION>
                                                     Three Months Ended March 31,
NUMERATOR FOR BASIC AND DILUTED LPS                    2003                 2002
                                                  -------------        -------------
<S>                                               <C>                  <C>
    Net loss to common shareholders               $    (203,461)       $    (436,818)
                                                  =============        =============
DENOMINATOR FOR BASIC AND DILUTED LPS
    Weighted average shares of common stock
        Outstanding                                 246,939,950          235,358,486
                                                  =============        =============
LPS - basic and diluted                           $        (.00)       $        (.00)
                                                  =============        =============
</TABLE>


     USE OF ESTIMATES

     The  preparation  of financial  statements  in conformity  with  accounting
     principles  generally  accepted  in the United  States of America  requires
     management  to make  estimates  and  assumptions  that affect the  reported
     amounts of assets and liabilities  and disclosure of contingent  assets and
     liabilities at the date of the financial statements and reported amounts of
     revenues and expenses  during the reporting  period.  Actual  results could
     differ from those estimates.

     SIGNIFICANT ESTIMATES

     Several  areas  require  significant   management   estimates  relating  to
     uncertainties  for which it is  reasonably  possible  that  there will be a
     material change in the near term. The more significant  areas requiring the
     use  of  management  estimates  related  to  the  valuation  of  inventory,
     intangible assets,  all accrued  liabilities and the valuation of the stock
     options and stock issued for debt and services provided by related parties.

     EQUITY BASED COMPENSATION

     The  Company  accounts  for  employee  stock  options  in  accordance  with
     Accounting  Principles  Board  Option No. 25 (APB),  "Accounting  for Stock
     Issued to Employees." Under APB No.25 the Company  recognizes  compensation
     expense  related to employee stock  options,  when options are granted at a
     price below the market price, on the day of grant.

     SFAS No. 123,  "Accounting  for Stock-Based  Compensation,"  prescribes the
     recognition of  compensation  expense based on the fair value of options on
     the grant date and allows  companies  to  continue  applying  APB No. 25 if
     certain pro forma disclosures are made assuming the hypothetical fair value
     method application.



                                       7
<PAGE>


                      ADVANCED PLANT PHARMACEUTICALS, INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)


1.   SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Continued)

     RECLASSIFICATION

     Certain prior year's amounts have been  reclassified to conform to the 2003
     presentation.


2.   RELATED-PARTIES STOCK AND ASSET TRANSACTIONS

     On July 16, 1999, the Company entered into a Technology  Purchase Agreement
     ("agreement") with Mr. C.J. Lieberman (brother of the current President and
     Director of the Company) whereby the Company acquired  exclusive rights and
     interests  to  a  thirteen-step   manufacturing   process,  which  utilizes
     virtually  all  of  the  nutrients   found  in  certain  plants  needed  to
     manufacture herbal dietary health supplements.

     The purchase  price for the  thirteen-step  process was the issuance to Mr.
     C.J.  Lieberman of 18 million shares of the Company's  common stock,  which
     was to be issued to him in two phases. In 2001, the agreement called for 12
     million shares of the Company's  stock to be issued at the first phase.  As
     of March 31, 2003,  none of the stock  related to this  agreement  had been
     issued. The Company, therefore, accrued and included in the caption "due to
     stockholder  -  asset   acquisition"   in  2000,   $1,440,000,   which  was
     managements'  determination  of the  common  stock  value of the 12 million
     shares at the time of the agreement,  in anticipation of issuing the common
     stock shares to Mr. C.J. Lieberman. Due to the asset impairment,  discussed
     below,  no further  liability  was recorded on the  remaining  value of the
     6,000,000  shares  not  issued  and  therefore  not  recorded  in  "due  to
     stockholder - asset acquisition".

     This  agreement,  entered into in 1999 was initially  recorded in 2000 as a
     transfer between  entities under common control and was therefore  recorded
     on the  Company's  records  as  research  and  development  expenses  and a
     liability  in accrued  expenses.  In 2001  management  concluded  that this
     transaction  was  recorded  in  error  and  made a  correction  to the 2000
     financial statements, in 2001, by recording a prior period adjustment.  The
     prior period  adjustment  (correction) made to the Company's records was to
     record an intangible asset, totaling $ 1,440,000,  on the balance sheet and
     a credit to retained earnings. Due to the lack of sales for the approximate
     three year period  ending  December  31,  2002,  and based on  management's
     current  projection  of the  future  present  value of cash  flows from its
     products  sales,  an impairment loss in the amount of $909,600 was recorded
     in 2002.  The  accumulated  impairment  loss which  includes  prior  years'
     amortization totaled $1,029,600 at March 31, 2003. The estimated fair value
     of the  intangible  asset  estimated  by  management  to be $410,400 and is
     included under the caption "Intangible assets-net", at March 31, 2003

     Unless  future sales are  generated,  this  intangible  asset is subject to
     future impairment loss provisions.


                                       8
<PAGE>


                      ADVANCED PLANT PHARMACEUTICALS, INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)


2.   RELATED-PARTIES STOCK AND ASSET TRANSACTIONS (Continued)

     In addition,  the Company agrees to pay to C.J. Lieberman a royalty payment
     of $.01 per bottle plus,  1% of the Company's  suggested  retail price plus
     10% of the  Company's  net profits  from the sale of products  manufactured
     with the  process.  In the event that the Company  enters into an agreement
     with a third party for the sale of products  manufactured with the process,
     the agreement  must  unconditionally  provide for payment to the Company of
     not less  than $20  million.  Upon  receipt  of the  sale  proceeds  by the
     Company, the Company shall issue to Mr. C.J. Lieberman 5 million shares for
     each $20 million paid to the Company, not to exceed 25 million shares.

     Upon his  resignation as President in 1996,  the Company  retained Mr. C.J.
     Lieberman as a consultant.  His current consultant's agreement,  dated June
     10,  1999,  provides  for  monthly  consulting  fees  of  $9,000  ($108,000
     annually),  reimbursement  of all direct expenses  incurred while providing
     services to the Company and a five-year  option to purchase  750,000 shares
     of the Company's common stock at an exercise price of $.02 per share. There
     were 9 million shares of common stock issued in 2002 to Mr. C.J.  Lieberman
     in payment for his services rendered.

     Included on the balance sheet in "Loans payable - stockholders" are accrued
     salaries,  consulting  and other  expenses paid on behalf of the Company by
     Mr. C.J. Lieberman. The balance due was $21,172 at March 31, 2003.

     The President and sole director of the Company,  Mr. David Lieberman,  lent
     the Company his personal funds to pay expenses on behalf of the Company. As
     of March 31,  2003,  included  on the  balance  sheet in  "Loans  payable -
     stockholders" are accrued  salaries,  consulting and other expenses paid on
     behalf of the Company by Mr. David Lieberman.  The balance due was $613,533
     at March 31, 2003.

     On February 28, 2000 the Company  entered into an Asset Purchase  Agreement
     with Dr.  Leonard  Bielory  (Chairman of the Board of Directors of APPI who
     resigned in January 2003) whereby the Company acquired the exclusive rights
     and interest to allergy and sinus formulations he developed ("Assets"). The
     purchase  price  includes  options to  purchase  18  million  shares of the
     Company's common stock at an aggregate  exercise price of $180. The options
     are to be issued in two phases.  The first phase was  completed in 2000 and
     the options required to purchase the Assets, 12 million shares, were issued
     during the fourth quarter of 2000. The fair value of the 12 million shares,
     as determined by management,  was $1,079,880 and is included in "Intangible
     assets  - net" on the  balance  sheet.  Due to the  lack of  sales  for the
     approximate  three year  period  ending  December  31,  2002,  and based on
     management's  current projection of the future anticipated present value of
     cash flows from this product's  sales,  an impairment loss in the amount of
     $684,344 was  recorded in 2002.  The  accumulated  impairment  loss,  which
     includes prior years' amortization, totaled $770,360 at March 31, 2003. The
     net  intangible  asset,  as shown on the  balance  sheet  under the caption
     "Intangible  assets-net",  at March 31, 2003 was  $309,520.  Unless  future
     sales are generated,  this intangible asset is subject to future impairment
     provision losses.


                                       9
<PAGE>


                      ADVANCED PLANT PHARMACEUTICALS, INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)


2.   RELATED-PARTIES STOCK AND ASSET TRANSACTIONS (Continued)

     Additionally,  the Company agrees to pay Dr.  Bielory a royalty  payment of
     $.01 per bottle,  plus 1% of the  suggested  retail  price of each  product
     sold, plus 10% of the Company's net profits before taxes from such sales of
     products manufactured with these assets.

     In the event that the Company  enters into an agreement  with a third party
     for the sale of products  manufactured  with these assets,  which agreement
     unconditionally  provides  for payments to the Company of not less than $20
     million  whether in lump sum or over a period of four years from such third
     party, the Company shall issue to Dr. Bielory 5 million shares for each $20
     million  required  to be paid to the  Company,  not to  exceed  twenty-five
     million shares.

     On March 15, 2000 the Company entered into an employment agreement with Dr.
     Leonard  Bielory  whereby under the terms of the agreement,  the Company is
     required to pay Dr. Bielory certain monthly amounts, some contingent on the
     Company achieving specified net profit levels.

     In March 2003,  the Company issued  1,250,000  shares of Series A Preferred
     Stock to David  Lieberman,  sole  director and  stockholder  and  1,250,000
     shares of Series A Preferred Stock to C.J. Lieberman,  a shareholder of the
     Company for services  rendered.  The stock was issued at par value,  $.0007
     per share.  These two  stockholders  own 100% of the  outstanding  Series A
     Preferred Stock.


3.   INTANGIBLE ASSETS

     Intangible  assets consist of the above  mentioned  agreement with Mr. C.J.
     Lieberman  to  purchase  the  thirteen-step   manufacturing   process,   to
     manufacture  herbal dietary  supplements and the agreement with Dr. Bielory
     for  the   exclusive   rights  and   interest  to  his  allergy  and  sinus
     formulations.  Such intangible assets, which have indefinite lives, are not
     subject to  amortization,  in  accordance  with SFAS 142.  These assets are
     recorded on the balance sheet, net of the accumulated impairment provisions
     and were $ 719,920 at March 31, 2003.

4.   CAPITAL STOCK

     In 2003, The Board of Directors of the Company elected and the stockholders
     voted to amend the  Certificate of  Incorporation  of the Company to change
     authorized number of shares from 250,000,000 million shares of common stock
     and 5,000,000  shares of preferred  stock to 600,000,000  million shares of
     common  stock  and  10,000,000  shares  of  preferred  stock by means of an
     amendment to the  Company's  Certificate  of  Incorporation.  The preferred
     shares voting rights are  equivalent to 150 shares of common stock for each
     share of preferred stock. The Board of Directors  determined that it was in
     the best  interests of the Company to make this change at this time, due to
     the fact that the Company has issued  almost the entire  authorized  amount
     permitted  under the  Certificate  of  Incorporation.  This would limit the
     ability of the Company to issue  shares to raise  capital,  pay for various
     services and other related activities.


                                       10
<PAGE>


                      ADVANCED PLANT PHARMACEUTICALS, INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)


5.   STOCK OPTIONS

     The Company has adopted an employee,  directors,  consultants, and advisors
     compensatory  stock  compensation and performance  based stock option plans
     which allows for the issuance of shares of common stock of the Company. The
     exercise price of each option is generally less than or equal to the market
     price of the Company's  stock on the date of grant.  The exercise price for
     options  granted is determined by the board of directors.  The maximum term
     of the options and the vesting  period will be  determined by the Board and
     are set forth in each option agreement.

     In accordance with various employment and consulting  contracts the Company
     has issued stock options to its officers, employees and key consultants.


6.   LOANS PAYABLE - STOCKHOLDERS

     Loans payable - stockholders  consists of unsecured,  non-interest  bearing
     short-term  loans. The loan agreements  provide the Company with the option
     of  repaying  the  loans  with  either  cash or  restricted  shares  of the
     Company's common stock.

     On January  11,  2002,  20 million  shares of the stock were  issued to Mr.
     Silberberg,  an existing stockholder,  in partial settlement of a loan. The
     total loan amount converted to capital was $336,000.

     On January  11,  2002,  2 million  shares of the stock  were  issued to Mr.
     Ginsberg,  an existing  stockholder for cash and in partial settlement of a
     loan to the  Company.  The total  loan  amount  converted  to  capital  was
     $18,000.

     On February 28, 2001,  the Company  entered into a loan  agreement with Mr.
     Berkowitz, an employee and shareholder of the Company. The agreement is for
     a maximum  loan  amount of  $100,000.  As of March 31, 2003 the Company has
     borrowed  $56,449 on this loan.  The loan is interest free and includes the
     option to be paid back in  Company  stock.  If the loan is paid in  Company
     stock,  the stock  conversion  price is $.0165 per share.  During  2002,  2
     million shares of the common stock were issued to Mr.  Berkowitz as partial
     repayment of the loan.


7.   COMMITMENTS AND CONTINGENCIES

     The Company has  employment  agreements  with four employees and consulting
     contracts with  individuals who are also  stockholders  of the Company.  At
     March 31, 2003, the Company has a total  liability for accrued  salaries to
     stockholders of $858,162. There are certain accrued payroll tax liabilities
     owed to the IRS on some of the salaries to  stockholders  that were paid in
     prior years, pursuant to these agreements.


                                       11
<PAGE>


                      ADVANCED PLANT PHARMACEUTICALS, INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)


7.   COMMITMENTS AND CONTINGENCIES (Continued)

     On February 17, 2000 the Company  retained  the  services of First  Madison
     Securities,  Inc.  ("FMS").  FMS will act as consultant  and  non-exclusive
     financial  advisor and investment  banker to the Company in connection with
     strategic  planning,   securities  transactions,   valuations,   mergers  &
     acquisitions,  alternative financing structures and capital formation.  FMS
     will also act as placement agent for the Company.

     As compensation  for these  services,  the Company will issue FMS 6,000,000
     restricted  shares of its common  stock as follows;  1,700,000  shares upon
     signing the agreement,  1,700,000 shares within three months of signing the
     agreement and 2,600,000  shares within six months of signing the agreement.
     The restricted  shares shall be registered with the Securities and Exchange
     Commission  to become  free  trading  shares as soon as  possible  with FMS
     bearing all registration costs.

     The  Company  will  also  pay FMS a  placement  fee  for  any  transactions
     consummated,  directly  or  indirectly,  through FMS during the term of the
     agreement or within two years thereafter. The placement fee will consist of
     a  payment  equal  to 10% of the  gross  proceeds  raised  from the sale of
     applicable securities,  reimbursement of non-accountable  expenses equal to
     3% of the gross  proceeds from the sale of any applicable  securities  plus
     warrants to purchase  common  stock equal to 10% of the  applicable  shares
     sold.  Additionally,  the Company  will  reimburse  FMS for all  reasonable
     out-of-pocket expenses incurred in the performance of this agreement, up to
     a maximum of $25,000.  As of March 31,  2003,  this  contract  has not been
     exercised or terminated.

     On January 22, 2001, the Company  entered into a consulting  agreement with
     Summa Capital,  Inc.,  which is owned by the son of a current  employee and
     shareholder of the Company. In accordance with the agreement, Summa Capital
     will provide consulting services in the area of investor relations,  public
     relations,  marketing and capital markets. The agreement is renewable every
     three  months  but may be  cancelled  by either  party on a monthly  basis.
     Compensation  payable to Summa Capital under this agreement includes $3,000
     per month payable in advance, 300,000 shares of Company stock at the end of
     each three month period and a  percentage  of the net proceeds of any money
     raised  by  the  Company  from  sources   introduced   by  Summa   Capital.
     Additionally,  at the beginning of every three month  renewal  period Summa
     Capital is to receive two-year warrants  convertible into 300,000 shares of
     the Company's common stock and five-year warrants to purchase an additional
     300,000  shares of the Company's  stock.  During 2002, 5 million  shares of
     common stock were issued to Summa Capital, Inc.


                                       12
<PAGE>

                      ADVANCED PLANT PHARMACEUTICALS, INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)


7.   COMMITMENTS AND CONTINGENCIES (Continued)

     On March 6, 2001, the Company entered into an agreement whereby the Company
     appointed  National  Brokers  Associates  (NBA)  as their  exclusive  sales
     management organization. The agreement is for a one year term. Compensation
     under the  agreement  involves  percentage  of sales  volume  and  includes
     minimum  payments of $5,000 per month of which 80% can be paid with Company
     stock at a discounted conversion rate. The agreement calls for the issuance
     of  additional  shares of the  Company's  stock if certain sales levels are
     achieved.  During 2002, 560,000 shares of common stock were returned to the
     Company for work not completed by NBA.

     LITIGATION

     A judgment has been issued  against  against the Company based on a summons
     dated March 24, 2003 in the amount of $7,350 plus interest from May 2000 in
     a suit  brought by a vendor.  It is probable  that the Company will also be
     liable for legal fees. The Company is in negotiations to settle this case.


8.   SUBSEQUENT EVENTS

     On April 7, 2003 the Board of Directors  authorized the issuance of a total
     219,350,000  common shares, of which 136,000,000 are restricted shares, for
     services   from  outside   consultants,   stockholders   and  repayment  of
     stockholder's loans. The shares were issued at $.005 per share,  determined
     by  management  to be the fair  market  value of the  shares at the time of
     issuance. These shares were issued on May 12, 2003.



                                       13
<PAGE>


Item 2. MANAGEMENT'S DISCUSSION AND ANAYSIS

Background

Our company was  incorporated  in the State of Delaware  in1986,  under the name
Ventra  Management,  Inc.  ("Ventra").  On July 20,  1994,  we amended  Ventra's
Certificate   of   Incorporation   to  change   our  name  to   Advanced   Plant
Pharmaceuticals, Inc.

Description of Business:

     APPI  continues  to focus on the research  and  development  of plant based
dietary supplements. During July 1999, the Company acquired exclusive rights and
interests to a thirteen-step  process which utilizes  virtually the whole of the
nutrients found in plants to manufacture all natural herbal dietary supplements.
The purchase  price for the process was 12,000,000  shares of Common Stock.  The
shares were issued February 13, 2001. A further 6,000,000 shares will become due
when marketing of the product commences. The Company intends to use this process
to manufacture  products that it hopes to distribute  worldwide  through various
sales distribution contracts.

     On February 28, 2000, the Company entered into an Asset Purchase  Agreement
with Dr. Bielory to purchase his various  allergy and nasal  formulations.  This
Agreement  was approved by the Board of  Directors  on  September  6, 2000.  Dr.
Bielory was granted a five year option to purchase an  aggregate  of  18,000,000
shares of the  Company's  Common  Stock,  par value  $0.0007  per  share,  at an
exercise price of $180.00. Dr. Bielroy exercised an option for 12,000,000 shares
in the first quarter of 2001.

     Sinusol(TM), being one of the formulations purchased from Dr. Bielory, is a
generalized  base solution for the development of an extensive line of specialty
products  related to allergy and sinus  conditions.  The  ingredients  include a
mixture of gently  pH-balanced  essential  mineral  oils that combat the various
symptoms  related  to  allergies  and sinus  disorders,  including  congestions,
irritated nasal mucosa and bacterial and fungal infections. Specialized advanced
formulations are being reviewed for patent submission.





                                       14
<PAGE>

Item 3 - Controls And Procedures

     Within the 90 days prior to the date of this  report,  the Company  carried
out an  evaluation,  under the  supervision  and with the  participation  of the
Company's management,  including the Company's Chief Executive Officer and Chief
Financial  Officer,  of the  effectiveness  of the design and  operation  of the
Company's  disclosure  controls  and  procedures  pursuant to Exchange  Act Rule
13a-14.  Based  upon that  evaluation,  the Chief  Executive  Officer  and Chief
Financial  Officer  concluded  that  the  Company's   disclosure   controls  and
procedures  are  effective  in  timely  altering  them to  material  information
relating to the Company (including its consolidated subsidiaries) required to be
included in the Company's periodic SEC filings.


                                     PART II

ITEM 1 - Legal Proceedings

     The Company received a letter from the counsel for Warner-Lambert objecting
to  the  trademark  application  the  Company  had  flied  with  respect  to its
Sinusol(TM)  product.  Warner-Lambert felt that the Sinusol(TM) product would be
too similar to the Warner-Lambert  product they had trademarked,  called ANUSOL.
The parties have agreed to a settlement  agreement whereby the opposition to the
trademark  application  filed by the Company will be  withdrawn  and the Company
shall be permitted to continue to market the  Sinusol(TM)  product.  The Company
agreed not to use or seek to register  trademarks or service marks in the United
States  containing the suffix "-NUSOL",  except for its pending  application for
SINUSOL and any other related application for SINUSOL or various permutations of
SINUSOL, including without limitation SINUSOL-ES, SINUSOL PLUS or similar marks.
Nothing in the  settlement  agreement  shall  prevent APPI from using the suffix
"-USOL" in any trademark or service mark.

     The  Company is a party to an action in the Civil  Court of the City of New
York,  County of New York,  entitled,  Bowne of New York City,  LLC v.  Advanced
Plant Pharmaceuticals.  This is an action for unpaid fees for filing the reports
of the Company on EDGAR. The suit seeks $15,805.42 in unpaid fees for filings on
the EDGAR system.  The Company  disputes the total amount due. If the Company is
unable to work out a resolution of this action,  it could have a material affect
upon  the  Company.  Counsel  for the  Company  has  been in  contact  with  the
attorney's  for Bowne,  and it is likely  that a  resolution  will be able to be
reached.

     The  Company  was sued by  Airgate  International  Corp.  ("Airgate")  that
provided  services to the Company.  These services  involved  importing  certain
items and supplies for the Company. The suit seeks the sum of$7,350.00 in unpaid
invoices.  If the Company is unable to work out a resolution of this action,  it
could have a material affect upon the Company.  Counsel for the Company has been
in contact with the  attorney's  for Airgate,  and intends to file and answer to
the  complaint.  However,  it is  likely  that a  resolution  will be able to be
reached,  although the terms and conditions cannot be predicted.  It is possible
that the Company will have to pay the entire  amount  sought under less than the
most favorable terms.




                                       15
<PAGE>

ITEM 2 - Changes in Securities

     On February 13, 2003, the Board of Directors of the Registrant a Designated
a Series A Preferred Stock,  with the designation and rights as set forth on the
Current Report filed on March 18, 2003.  Each share of Series A Preferred  Stock
has voting rights equal to 150 shares of common stock of the Registrant.

     On April 30, 2003, the Registrant  filed with the Secretary of State of the
State of Delaware,  to increase the authorized  capital of the  Registrant  from
250,000,000  million  shares of Common Stock and  5,000,000  shares of preferred
stock to  600,000,000  million  shares of Common  Stock and  10,000,000  million
shares of preferred stock, by means of an amendment to the Company's Certificate
of Incorporation.


ITEM 3 - Defaults upon Senior Securities

     None


ITEM 4 - Submission of Matters to a Vote of Security Holders

     On March 24, 2003, the Registrant  filed with the Secretary of State of the
State of Delaware,  to increase the authorized  capital of the  Registrant  from
250,000,000  million  shares of Common Stock and  5,000,000  shares of preferred
stock to  600,000,000  million  shares of Common  Stock and  10,000,000  million
shares of preferred stock, by means of an amendment to the Company's Certificate
of Incorporation.


ITEM 5 - Other Information

     None


ITEM 6 --EXHIBITS AND REPORTS OF FORM 8-K

     (a) The following documents are filed as part of this report:

     (1)(2) CONSOLIDATED FINANCIAL STATEMENTS AND FINANCIAL STATEMENT SCHEDULES.

     A list  of the  Consolidated  Financial  Statements  filed  as part of this
Report is set forth in Item 8 and appears at Page F-1 of this Report; which list
is incorporated  herein by reference.  The Financial Statement Schedules and the
Report of Independent Auditors as to Schedules follow the Exhibits.



                                       16
<PAGE>

     (a)(3) EXHIBITS.

     All of the items below are  incorporated  by reference to the  Registrant's
General Form 10SB and  amendments for  Registration  of Securities as previously
filed.

EXHIBITS AND SEC REFERENCE NUMBERS

Number    Title of Document
------    -----------------
2(a)      Certificate of Incorporation (2)

2(b)      Agreement and Plan of Merger (2)

2(c)      By-Laws (2)

99.1      Certification  of  the  Chief  Executive  Officer  of  Advanced  Plant
          Pharmaceuticals,  Inc., pursuant to 18 U.S.C. Section 1350, As Adopted
          Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (1)

          (1)       Filed Herewith.
          (2)       Filed as exhibits to Form 10-SB, dated, July 23, 1999


(b) Reports on Form 8-K

     On March 18, 2003,  we filed a Current  Report on Form 8-K, with respect to
Items 4 and 7, related to the change of the Independent  Auditor of the Company,
along with the designation of Series A Preferred Stock of the Company,  that was
already  authorized by the Certificate of  Incorporation,  but not issued prior,
and the resignation of Dr. Bileory Chairman of the Board of Directors.

     On April 7,  2003,  we filed a Current  Report on Form  8-K,  amending  the
disclosure  contained  in Item 4 of the  Current  Report on Form 8-K  previously
filed on March 18, 2003.

     On May 8,  2003,  we filed a  Current  Report  on Form  8-K,  amending  the
disclosure  contained  in Item 4 of the  Current  Report on Form 8-K  previously
filed on March 18, 2003 and amended thereafter on April 7, 2003.


                                       17
<PAGE>


SIGNATURES

Pursuant to the  requirements of Section 13 or 15(d) 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.


Date: May 19, 2003                              By: /s/ David Lieberman
                                                    ----------------------------
                                                    David Lieberman,
                                                    President and Sole Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the  following  persons on behalf of the  Registrant in
the capacities and on the dates indicated.

DATE                                            SIGNATURE / TITLE

Date: May 19, 2003                              By: /s/ David Lieberman
                                                    ----------------------------
                                                    David Lieberman
                                                    Sole Director


                                       18
<PAGE>


I, David Lieberman, certify that:

     1. I have reviewed this  quarterly  report on Form 10-QSB of Advanced Plant
Pharmaceuticals, Inc.;

     2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report;

     3. Based on my knowledge,  the financial  statements,  and other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

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

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

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

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

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

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

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

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

May 19, 2003

/s/ David Lieberman
--------------------------------
David Lieberman
Sole Officer and Chief Financial Officer



                                       19