<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:  August 18, 2003; 488,165,632 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 June 30, 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

Reports  are  contained  starting  Page  F-1.


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  ,  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.

     On May 28, 2003, the Registrant entered into an agreement with Tele-V, LLC,
a  marketing  company  with  in-house expertise in purchasing, manufacturing and
marketing  consumer  products,  and  the  ability to execute print and broadcast
media  buys.

     According  to  the  terms  of  the agreement, Tele-V, LLC has the exclusive
right  to  purchase  a  minimum  of 100,000 bottles, through July 2003 of APPI's
patented  cholesterol  reducing  dietary  supplement,  Lo-Chol,  for  resale. In
exchange  for  awarding  Tele-V,  LLC the exclusive rights for the marketing and
distribution  of  Lo-Chol,  Tele-V,  LLC has agreed to bear all costs associated
with  the  marketing,  designs,  and  distribution  etc. of Lo-Chol, including a
significant commitment of media buys. Tele-V, LLC will produce and air a Lo-Chol
radio  commercial  within  90 days of this agreement, followed by the production
and  airing  of  an  infomercial  on  Lo-Chol  within  120  days.

     Pursuant  to  the  Agreement, Tele-V shall purchase a minimum of $2,000,000
worth  of  purchase  orders per year after the date of the first purchase order.

     Sales  for  the  last  six  months  have  totaled  $64,673, with a total of
$61,942.


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.


Critical Accounting Policies
----------------------------

     The  preparation  of  financial  statements  in  conformity with accounting
principles  generally  accepted  in the United States requires management of the
Company  to  make  assumptions,  estimates and judgments that affect the amounts
reported  in  the financial statements, including the notes thereto, and related
disclosures  of commitments and contingencies, if any. The Company considers its
critical  accounting  policies  to  be  those  that require the more significant
judgments  and  estimates  in  the  preparation  of  the  Company's  financial
statements,  including  the  following:  valuation of inventories and intangible
assets,  valuation  of  stock options and warrants, and valuation of all accrued
liabilities including payroll taxes and other contingent liabilities. Management
relies  on  historical  experience  and  on  other  assumptions  believed  to be
reasonable  under the circumstances in making its judgment and estimates. Actual
results  could  differ  materially  from  those  estimates.


                                     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
product.  Warner-Lambert  felt that the Sinusol  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  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.  The  parties have reached an agreement for the
payment  of  the  outstanding  amount.  The  agreement  has  not been reduced to
writing,  although  the  Company  has  commenced  making  payments.


ITEM  2  -  CHANGES  IN  SECURITIES

     None


ITEM  3  -  DEFAULTS  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  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.

          (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  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.

     On  June  16,  2003, we filed a Current Report on Form 8-K, with respect to
Item 5. Other Events and Regulation FD Disclosure, with respect to the Agreement
with  Tele-V  LLC  regarding  marketing.



<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:          August  18,  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:               August  18,  2003          By:  /s/  David  Lieberman
                                                ----------------------------
                                                David  Lieberman
                                                 Sole  Director

<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.

August  18,  2003
/s/  David  Lieberman
--------------------------------
David  Lieberman
Sole  Officer  and  Chief  Financial  Officer

<PAGE>


<TABLE>
<CAPTION>
                      ADVANCED PLANT PHARMACEUTICALS, INC.

                             CONDENSED BALANCE SHEET

                                  JUNE 30, 2003
                                   (UNAUDITED)

<S>                                                                                                   <C>



                                                      Assets

Current assets
     Cash and cash equivalents                                                                  $        40,115
     Accounts receivable                                                                                 28,897
     Inventory                                                                                           47,801
                                                                                                ---------------

           Total current assets                                                                         116,813
                                                                                                ---------------

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

           Total other assets                                                                           728,464
                                                                                                ---------------

           Total assets                                                                         $       845,277
                                                                                                ===============


                                     Liabilities and Stockholders' Deficiency

Current liabilities
     Accounts payable and accrued liabilities                                                   $       277,126
     Due to stockholder - asset acquisition                                                           1,440,000
     Loans payable - stockholders                                                                     1,076,162
     Due to distributor                                                                                 103,500
                                                                                                ---------------

           Total liabilities                                                                          2,896,788
                                                                                                ---------------

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;
         488,166,060 shares issued and outstanding                                                      341,716
     Paid-in-capital                                                                                  9,135,733
     Deficit                                                                                        (11,530,710)
                                                                                                ----------------

           Total stockholders' deficiency                                                            (2,051,511)
                                                                                                ----------------


           Total liabilities and stockholders' deficiency                                       $       845,277
                                                                                                ===============


                   The accompanying notes are an integral part
                     of the condensed financial statements.
                                        1
</TABLE>

<PAGE>

<TABLE>
<CAPTION>


                      ADVANCED PLANT PHARMACEUTICALS, INC.

                       CONDENSED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)




                                                   Three Months Ended                     Six Months Ended
                                                        June 30,                              June 30,
                                                        -------                               -------
<S>                                              <C>               <C>                 <C>                <C>
                                                 2003              2002                2003               2002
                                                 ----              ----                ----               ----

Net sales                                    $     61,981      $      5,961       $     64,726        $      7,749

Cost of goods sold                                 27,340             2,973             29,466               3,914
                                             ------------      ------------       ------------        ------------

         Gross profit                              34,641             2,988             35,260               3,835

Operating expenses:
     General and administrative                   611,225           399,661            815,372             837,326
                                             ------------      ------------       ------------        ------------

  Operating loss                                 (576,584)         (396,673)          (780,112)           (833,491)

  Provision for income taxes                         (245)            -                   (687)               -
                                             ------------      ------------       ------------        ------------

         Net loss                            $   (576,829)     $   (396,673)      $   (780,799)       $   (833,491)
                                             ============      ============       ============      ==============

Loss per common share                        $ (0.00)          $ (0.00)           $ (0.00)              $     (0.00)
                                             ============      ============       ============      ===============


                   The accompanying notes are an integral part
                     of the condensed financial statements.
                                        2

</TABLE>
<PAGE>

<TABLE>
<CAPTION>


                      ADVANCED PLANT PHARMACEUTICALS, INC.

                       CONDENSED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)




                                                                             Six Months Ended June 30,
                                                                             2003                 2002
<S>                                                                          <C>                  <C>
                                                                             ----                 ----

Cash flows from operating activities
     Net cash provided by (used in) operations                           $      143,402       $     151,683
                                                                         --------------       -------------

Cash flows from financing activities
     Loans payable - stockholders - net                                        (103,506)              -
     Payments on short-term loans payable - net                                  -                  (158,208)
                                                                        ---------------      ---------------

     Net cash used in financing activities                                     (103,506)            (158,208)
                                                                        ----------------     ---------------

Net increase (decrease) in cash and cash equivalents                             39,896               (6,525)

Cash and cash equivalents - beginning of period                                     219                7,316
                                                                        ---------------      ---------------

Cash and cash equivalents - end of period                               $        40,115      $           791
                                                                        ===============      ===============



Supplemental cash flow information: Cash paid during the year for:
                  Interest                                              $        -           $        -
                                                                        ===============      ==============
                  Income taxes                                          $           687      $        -
                                                                        ===============      ==============

Non-cash transaction:
         Preferred stock issued for services                            $         1,750      $        -
                                                                        ===============      ==============

         Common stock issued for services                               $       290,507      $   374,221
                                                                        ===============      ==============



                   The accompanying notes are an integral part
                     of the condensed financial statements.
                                        3
</TABLE>
<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 six months ended June 30, 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
       $11,530,710 and stockholder's deficiency of $2,051,511 as of June 30,
       2003 and current liabilities exceeded current assets by $2,779,975. 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 June 30,
       2003, inventories consisted of $47,401 of raw materials and $400 of
       finished goods, which 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.

       During the quarter ended June 30, 2003, the Company received an order for
       10,500 units of its Lo-Chol cholesterol reducing supplement and sold
       10,500 units as of June 30, 2003 to one customer.

       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.

       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 June
       30, 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 June
       30, 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.

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

                                       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)



     NUMERATOR FOR BASIC AND DILUTED LPS                   2003         2002
                                                           ----         ----
         Net loss to common shareholders            $   (780,799)   $  (436,818)
                                                    ==============  ============
     DENOMINATOR FOR BASIC AND DILUTED LPS
         Weighted average shares of common stock
             Outstanding                             314,186,041     242,869,255
                                                     =============  ============

     LPS - basic and diluted                        $       (.00)   $      (.00)
                                                    ==============  ============

       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 relate 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 June 30, 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 an increase 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 June 30, 2003. The estimated
       fair value of the intangible asset estimated by management at December
       31, 2002 was $410,400 and is included under the caption "Intangible
       assets-net", at June 30, 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.

       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 June 30, 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
       $487,033 at June 30, 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 June 30, 2003. The net intangible
       asset, as shown on the balance sheet under the caption "Intangible
       assets-net", at June 30, 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.

       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.

        During the three months ended June 30, 2003, the Company had issued
        110,226,110 shares of its common stock in lieu of payments in cash for
        services rendered, some to related parties. Included in this total are
        10,000,000 million shares issued to Consulting Solutions Group, per a
        consulting agreement as entered into as of May 12, 2003. These shares
        represent $290,507 of expenses in lieu of cash to the Company as of June
        30, 2003.

        During the three months ended June 30, 2003, the Company issued
        131,000,000 shares of its common stock to its existing stockholders in
        repayment of their outstanding loans to the company. These shares
        represent repayments of $611,500 to existing shareholders which is
        reflected on the balance sheet under the caption "Loans payable -
        shareholders".

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 June 30, 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


                                       10

<PAGE>


                      ADVANCED PLANT PHARMACEUTICALS, INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)


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

       CAPITAL STOCK (Continued)


       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.

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 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 June 30, 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
        June 30, 2003,, the Company has a total liability for accrued salaries
        to stockholders of $524,546. 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 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.

        On April 15, 2003, the Company entered into a consulting agreement with
        Consulting Solutions Group. The agreement is for a one year term.
        Compensation under the agreement is for the Company to issue 10,000,000
        shares of its common stock. The stock was issued to Consulting Solutions
        Group as of May 12, 2003.

        On May 28, 2003 the Company entered into a consulting agreement with
        Tele. V LLC whereas Tele. V LLC will provide consulting, advice and
        assistance to the Company in the areas of marketing and promotion. Tele.
        V LLC has assisted the company in reaching sales distribution agreement
        with IGIA, Inc., a New York City based full service direct response
        marketing and merchandising company. The agreement grants Tele V. the
        exclusive right to purchase a minimum of 100,000 units of the Company's
        cholesterol reducing dietary supplement, Lo-Chol. Tele V. will bear all
        the related costs of marketing and distribution, including the creation
        and production of an infomercial. The Company per the agreement is
        required to issue 30 million shares of common stock upon execution of
        the agreement. Tele.V LLC will produce an infomercial for the Company at
        which time the Company is required to issue 2,500,000 preferred shares,
        representing 25% of the voting rights of the Company; in addition, the
        Company is required to issue an additional 100 million common shares to
        Tele. V LLC, for a total of 130 million common shares. The Company is
        required to maintain Tele. V LLC at 50% of the issued and outstanding
        preferred shares and 25% of the total issued and outstanding common
        shares; at not time can Tele V. LLC's share drop below these
        percentages, respectively. The Company will be required to issue to Tele
        V. LLC an additional 20% of the then issued and outstanding common
        shares upon the Company achieving $2,000,000 in sales of its products.
        At no time can Tele V. LLC's total share of the Company for both
        preferred shares and common shares be reduced below 50% and 25%,
        respectively.

        The agreement with IGIA, Inc., ("IGIA") is an exclusive agreement
        whereby the Company has agreed to sell substantially all of its products
        solely to IGIA and IGIA has the exclusive right to

                                       12
<PAGE>



                      ADVANCED PLANT PHARMACEUTICALS, INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)


7. COMMITMENTS AND CONTINGENCIES (Continued)

        market the product on a worldwide basis. There is also a covenant not to
        compete for the length of the agreement plus one year after termination
        of the agreement. IGIA will be responsible for the marketing and
        promotion of the dietary supplements, and IGIA has agreed to purchase a
        minimum of $2,000,000 per annum of the Company's supplements.

        On May 12, 2003, the Company entered into an agreement with Dr. Gerard
        Armand to serve as the Company's Director of Clinical Research and
        Manufacturing. The agreement is for a one year term, and requires the
        Company to issue to Dr. Armand 500,000 shares of common stock and a
        monthly stipend of $150.00 for services rendered.

        LITIGATION

        The Company is a defendant in several lawsuits arising in the normal
        course of business and involves claims for damages. The Company is
        contesting the actions but is unable to predict the ultimate outcome.
        Included in accounts payable and accrued liabilities is a reserve
        against such claims for damages. The Company is in negotiations to
        settle all matters.

       CONCENTRATION OF CREDIT RISK

       The Company has one major customer that provided 93% of the total sales
       for the six months ended June 30, 2003. The loss of this customer would
       further hamper the Company's efforts to bring its products to the
       commercial market.



                                       13


<PAGE>