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**UNITEDSTATESSECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON,D.C. 20549**

**FORM10–QSB**

| ý | **QUARTERLY REPORT UNDER SECTION 13 OR 15() OF THE SECURITIES  EXCHANGE ACT OF 1934** |
|--------|---------------------------------------------------------------------------------------|

**Forthe quarterly period ended June 30, 2001OR**
| o | **TRANSITION REPORT UNDER SECTION 13 OR 15() OF THE  SECURITIES EXCHANGE ACT OF 1934** |
|---|----------------------------------------------------------------------------------------|

**Forthe transition period from             to            **

**Commissionfile number 0–18785**

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**OXBOROMEDICAL, INC.**

(Exact name of small business issuer asspecified in its charter)

 
| **Minnesota**                                                               | **41–1391803**                      |
|-----------------------------------------------------------------------------|------------------------------------------|
|  (State  or other jurisdiction of incorporation  or organization) |  (IRS  Employer Identification No.) |

**13828Lincoln Street N.E., Ham Lake, Minnesota 55304**(Address of principal executive offices)

**(763) 755–9516**(Issuer's telephone number)

(Former name, former address and former fiscalyear, if changed since last report)

         Check whether the issuer (1) filed all reports required to be filed bySection 13 or 15(d) of the Exchange Act during the past 12 months (orfor such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past90 days:       YES  ý     NO o

         At August 3, 2001 1,778,985 shares of the issuer’s Common Stock wereoutstanding.

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**OXBOROMEDICAL, INC.INDEX TO FORM 10-QSB**

| PART  I—FINANCIAL INFORMATION: |                                                                                                                        |
|-------------------------------------|-----------------------------------------------------------------------------------------------------------------------------|
| Item 1.                        | Consolidated  Financial Statements (unaudited)                                                                              |
|                                | Consolidated Balance Sheets  at June 30, 2001 (unaudited) and September 30, 2000                                            |
|                                | Consolidated  Statements of Operations for the Three Months  and Nine Months Ended  June 30, 2001 and 2000 (unaudited) |
|                                | Consolidated  Statements of Cash Flows for the Nine Months Ended June 30, 2001 and 2000  (unaudited)                        |
|                                | Notes  to Consolidated Financial Statements (unaudited)                                                                     |
| Item  2.                            | Management’s  Discussion and Analysis or Plan of Operation                                                             |
| PART II—OTHER INFORMATION:     |                                                                                                                        |
| Item  4.                            | Submission  of Matters to a Vote of Security Holders                                                                        |
| Item  6.                            | Exhibits  and Reports on Form 8–K                                                                                      |
| SIGNATURES                          |                                                                                                                        |   |
|                                |                                                                                                                        |   |   |

**Part I—Financial Information**

**Item 1. FinancialStatements**

**OXBORO MEDICAL, INC.CONSOLIDATED BALANCE SHEETS**

|                                             | **June 30,**   **2001**                |      | **September 30,** **2000** |      |
|--------------------------------------------------|---------------------------------------------|-----------|---------------------------------|-----------|
|                                             | ****                                        |      | ****                            |      |
|                                             | (unaudited)                                 |      | (audited)                       |      |
| **ASSETS**                                       |                                        |      |                            |      |
| Current Assets:                                  |                                        |      |                            |      |
|                                             | Cash  and cash equivalents                  | $         | 1,847,944                       |      | $ | 461,108 |   |
|                                             | Warrant  proceeds due from trustee          | 41,208    |                            | 1,079,196 |   |
|                                             | Trade  receivables, net                     | 1,126,946 |                            | 708,933   |   |
|                                             | Inventories                                 | 1,689,180 |                            | 761,295   |   |
|                                             | Income  taxes receivable                    | 9,300     |                            | 0         |   |
|                                             | Deferred  income taxes                      | 20,000    |                            | 20,000    |   |
|                                             | Other  current assets                       | 33,665    |                            | 12,269    |   |
|                                             |                                        |      |                            |      |
|                                             |                                             |      |                                 |      |
|                                             |                                        |      |                            |      |
|                                             | Total  current assets                       | 4,768,243 |                            | 3,042,801 |   |
|                                             |                                        |      |                            |      |
| Property and  equipment, net                     | 1,816,891                                   |      | 1,132,546                       |      |
|                                             |                                        |      |                            |      |
| Other assets:                                    |                                        |      |                            |      |
|                                             | Intangible assets, net                      | 1,244,057 |                            | 0         |   |
|                                             | Available-for-sale  securities              | 1,206,247 |                            | 1,375,000 |   |
|                                             | Cash value of life  insurance, net of loans | 20,601    |                            | 135,618   |   |
|                                             | Financing costs, net                        | 38,345    |                            | 0         |   |
|                                             |                                        |           |                            |           |   |
| Total other assets                               | 2,509,250                                   |      | 1,510,618                       |      |
|                                             |                                             |      |                                 |      |
|                                             |                                        |      |                            |      |
|                                             | Total  assets                               | $         | 9,094,384                       |      | $ | 5,685,965 |   |
|                                             |                                             |      |                                 |      |
| **LIABILITIES AND STOCKHOLDERS’ EQUITY**    |                                        |      |                            |      |
| Current liabilities:                             |                                        |      |                            |      |
|                                             | Current  portion of long-term debt          | $         | 201,840                         |      | $ | 50,883 |   |
|                                             | Accounts  payable                           | 264,754   |                            | 148,481   |   |
|                                             | Accrued  payroll and related taxes          | 214,930   |                            | 168,360   |   |
|                                             | Other  accrued expenses                     | 200,166   |                            | 72,476    |   |
|                                             |                                             |      |                                 |      |
|                                             | Total  current liabilities                  | 881,690   |                            | 440,200   |   |
|                                             |                                        |      |                            |      |
| Long-term debt, net of  current portion          | 2,285,840                                   |      | 379,551                         |      |
| Deferred income taxes                            | 20,000                                      |      | 20,000                          |      |
|                                             |                                             |      |                                 |      |
| Total liabilities                                | 2,305,840                                   |      | 839,751                         |      |
|                                             |                                             |      |                                 |      |
| Stockholders’ equity:                       |                                        |      |                            |      |
|                                             | Common  stock, $0.01 par value              | 17,790    |                            | 17,555    |   |
|                                             | Additional  paid-in capital                 | 3,377,882 |                            | 3,309,069 |   |
|                                             | Retained  earnings                          | 2,149,391 |                            | 1,495,725 |   |
|                                             | Accumulated  other comprehensive income     | 361,791   |                            | 23,865    |   |
|                                             |                                             |      |                                 |      |
|                                             | Total  stockholders’ equity            | 5,906,854 |                            | 4,846,214 |   |
|                                             |                                             |      |                                 |      |
| Total liabilities and  stockholders’ equity | $                                           | 9,094,384 |                            | $         | 5,685,965 |   |
|                                             |                                             |      |                                 |      |
|                                                  |                                             |           |                                 |           |  |  |  |  |

See accompanying notesto consolidated financial statements.****OXBOROMEDICAL, INC.CONSOLIDATED STATEMENTS OFOPERATIONS AND COMPREHENSIVE INCOME(unaudited)**
 **For the Three Months Ended June 30,** **For the Nine Months Ended June 30,**  **** ****  **2001** **2000** **2001** **2000**  **** **** **** ****          Sales, net$1,670,708 $1,280,061 $4,313,852 $3,732,698 Cost of goods sold701,110 462,228 1,743,145 1,359,685               Gross profit969,598 817,833 2,570,707 2,373,013 Selling, general and  administrative expenses837,512 599,781 2,138,734 1,725,731               Income from operations132,086 218,052 431,973 647,282 Interest expense30,798 10,595 73,196 32,728 Interest and other  income21,010 33,327 70,937 112,390 Gain on sale of  available-for-sale securities207,822 0 223,952 0               Net income$330,120 $240,784 $653,666 $726,944 Other comprehensive  income125,839 0 337,929 0               Comprehensive income$455,959 $240,784 $991,595 $726,944      Net income per share:         Basic$0.19 $0.18 $0.37 $0.59  Diluted0.17 0.16 0.35 0.54 Weighted average  common and common equivalent shares outstanding:         Basic1,770,723 1,348,302 1,768,174 1,226,141  Diluted1,966,206 1,536,023 1,889,597 1,357,951 
See accompanying notesto consolidated financial statements.
**OXBOROMEDICAL, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited)**
 **For the Nine Months**   **Ended June 30,**  ****  **2001** **2000**  **** ****      **Cash flows from operation activities**:     Net  income$653,666 $726,944  Adjustments  to reconcile net income to cash flows from operating activities:     Depreciation  and amortization129,406 89,093  Gain  on sale of available-for-sale securities(223,952)0  Changes in operating  assets and liabilities:     Trade  receivables, net(418,013)(32,168) Inventories(927,885)(181,472) Income  taxes receivable(9,300)52,758  Other  current assets(41,396)(10,657) Accounts  payable116,273 (65,883) Accrued  payroll and related taxes46,570 77,769  Accrued  consulting fees0 (181,875) Other  accrued expenses127,690 (30,306)    Cash  flows from operating activities(546,941  )444,203    **Cash flows from investing activities:**     Purchases  of property and equipment(2,057,808)(184,143) Proceeds  from sale of business segment0 245,000  Proceeds  from sale of available-for-sale securities791,839 (23,970) Change  in other assets76,672 0     Cash  flows from investing activities(1,189,297)36,887    **Cash flows from financing activities:**     Payments on line of credit  - bank, net0 (145,313) Proceeds  from long-term debt2,455,452 0  Payments  on long-term debt(398,206)(30,587) Proceeds  from rights and warrants exercised1,065,828 1,024,236     Cash  flows from financing activities3,123,074 848,336    Increase in cash and  cash equivalents1,386,836 1,329,426 Cash and cash equivalents,  beginning of period461,108 303,160    Cash and cash  equivalents, end of period$1,847,944 $1,632,586    
See accompanying notesto consolidated financial statements.
**OXBOROMEDICAL, INC.NOTES TO UNAUDITEDCONSOLIDATED FINANCIAL STATEMENTSJune 30, 2001**

**Note 1 - Basis ofFinancial Statement Presentation**

             The accompanying unauditedconsolidated financial statements have been prepared pursuant to the rules andregulations of the Securities and Exchange Commission.  Certain informationand footnote disclosures normally included in financial statements prepared inaccordance with accounting principles generally accepted in the United Statesof America have been consolidated or omitted pursuant to such rules andregulations, although management believes that the disclosures are adequate tomake the information presented not misleading.

             In the opinion of management, theunaudited consolidated financial statements contain all adjustments (consistingof only normal recurring adjustments) necessary to present fairly the financialposition and results of operations.  Results of operations for the interimperiods are not necessarily indicative of the results to be expected for thefull year or of the results for any future periods.

              In preparation of the Company's consolidated financial statements,management is required to make estimates and assumptions that affect reportedamounts of assets and liabilities and related revenues and expenses. Actual results could differ from the estimates used by management.

             Certain accounts in the priorperiod consolidated financial statements have been reclassified for comparativepurposes to conform with the presentation in the current period consolidatedfinancial statements.  These reclassifications had no effect on net incomeor stockholders' equity.

**Note 2 - SignificantAccounting Policies**

**Principles of consolidation-**The consolidated financial statements include the accounts of OxboroMedical, Inc. and its wholly-owned subsidiaries, Oxboro, Inc. (formerly knownas Oxboro Medical, Inc.) and Sterion, Inc. (effective May 25, 2001 - see Note8).  All significant intercompanytransactions and balances have been eliminated in consolidation.

**Amortization-** Patents and trademarks are beingamortized over their estimated useful lives using the straight-line method.

**Income taxes****-** The Companyhas adopted Statement of Financial Accounting Standards No. 109, “Accountingfor Income Taxes,” under which deferred income tax assets and liabilities arerecognized for the temporary differences between the financial statement andincome tax reporting bases of assets and liabilities based on currently enactedrates and laws.  These temporary differences include depreciation andrelated party accruals.

**Revenue recognition****-**The Companyrecords sales revenue at the time merchandise is shipped.  The Companyensures that the transaction complies with the seven conditions and the sixconsiderations contained in Accounting and Auditing Enforcement Release No. 108of the Securities and Exchange Commission (SEC).

             In November 1999, the SEC issuedStaff Accounting Bulletin (SAB) No. 101, “Revenue Recognition.”  SAB No.101, as amended, sets forth the SEC staff’s position regarding the point atwhich it is appropriate for a registrant to recognize revenue.  The staffbelieves that revenue is realizable and earned when all of the followingcriteria are met: persuasive evidence of an arrangement exists, delivery hasoccurred or service has been rendered, the seller’s price to the buyer is fixedor determinable and collectibility is reasonably assured.  The Companyuses the above criteria to determine whether revenue can be recognized, andtherefore, believes that the issuance of this bulletin does not have a materialimpact on these financial statements.  The Company adopted SAB No. 101during the quarter ended March 31, 2001 and the effect of adoption was notmaterial to the consolidated financial statements.

             Effective January 1, 2001, theCompany began recording amounts being charged to customers for shipping andhandling as revenue in accordance with recently released Emerging Issues TaskForce (EITF) Issue 00-10, “Accounting for Shipping and Handling Fees andCosts.”  Historically, the Company had netted the shipping and handlingrevenue with the cost of shipping and handling in cost of sales.  Priorperiod consolidated financial statements have been reclassified for comparativepurposes to conform with the presentation in the current period consolidatedfinancial statements.  These reclassifications had no effect on net incomeor stockholders' equity.

**Recently issued accounting pronouncement****-** Statement of Financial Accounting Standards (SFAS)No. 133, “Accounting for Derivative Instruments and Hedging Activities,” asamended, is effective for years beginning after June 15, 2000.  SFAS No.133 establishes accounting and reporting standards requiring that everyderivative instrument, including certain derivative instruments embedded inother contracts, be recorded in the balance sheet as either an asset orliability measured at its fair value.  SFAS No. 133 requires that changesin the derivative’s fair value be recognized currently in earnings unlessspecific hedge criteria are met.  Special accounting for qualifying hedgesallows a derivative’s gains or losses to offset related results on the hedgeditem in the statement of operations and requires that a company must formallydocument, designate and assess the effectiveness of transactions that receivehedge accounting.  The adoption of SFAS No. 133 did not have a materialeffect on the Company’s financial position or results of operations.

**Note 3 - Inventories**
 **June 30, 2001** **September 30, 2000**         Inventories consist  of:     Raw  materials$762,831 $497,950  Work  in process662,442 77,675  Finished  goods706,442 287,873    Total2,131,715 863,498 Less: valuation  reserve(442,535)(102,203)    Inventories,  net$1,689,180 $761,295    
**Note 4 - Available for Sale Securities**

The Company classifies all equity securities,which are not cash equivalents, as available-for-sale securities.Available-for-sale securities are reported at fair value with all unrealizedgains or losses included in other comprehensive income.  The fair value ofthe securities is determined by quoted market prices of the underlyingsecurity.

**Note 5 - Net Income Per Share**

             The Company's basic net income pershare amounts have been computed by dividing net income by the weighted averagenumber of outstanding common shares.  The Company's diluted net income pershare is computed by dividing net income by the weighted average number ofoutstanding common shares and common share equivalents relating to stockoptions and warrants, when dilutive.  For the three months ended June 30,2001 and 2000,  195,483 and  187,721 shares of common stock equivalentswere included in the computation of diluted net income per share, respectively.For the nine months ended June 30, 2001 and 2000,  121,423 and  131,810shares of common stock equivalents were included in the computation of dilutednet income per share, respectively.

             Options to purchase  40,400 and 45,400  shares of common stockwith a weighted average exercise price of $6.09 and $6.20  were outstanding at June 30, 2001 and 2000,respectively, but were excluded from the computation of common shareequivalents because their exercise prices were greater than the average marketprice of the common shares for such periods.

**Note 6 - Income Taxes**

             The Company utilized net operatingloss carryforwards to offset income tax expense during the nine months endedJune 30, 2001.  Accordingly, the Company did not report income taxexpense.  Remaining net operating loss carryforward available to offsetfuture income taxes total approximately $545,000.

**Note 7 - Long-term debt**

             In January 2001 the Company enteredinto a $975,000 mortgage payable.  The mortgage payable requires monthlyinstallments of $8,175 including interest at 8.5% and is due in February2011.  A portion of the proceeds from the new mortgage payable were usedto pay off an existing mortgage of approximately $370,000 which was to maturein June 2001 and the remaining proceeds are included in cash and cashequivalents at June 30, 2001.

             In May 2001, the Company entered into a $1.5 million note agreement withCrown Bank.  The note requires monthlypayments of $ 29,701.80 including interest at prime and is due in June2004.  The proceeds from this notepayable were used to acquire the assets included in the asset purchaseagreement dated April 24, 2001, as amended, between the Johnson & JohnsonMedical Division of Ethicon, Inc. ("J&J") the Company and theCompany's wholly-owned subsidiary, Oxboro Acquisition, Inc.

             In May 2001, the Company enteredinto a $675,000 revolving line of credit with Crown Bank. Amounts outstandingare due upon demand or, if no demand is made, on June 2002 and bear interest atprime. The proceeds from this note payable were used to acquire the assetsincluded in the asset purchase agreement dated April 24, 2001, as amended,between J&J, the Company and the Company's wholly-owned subsidiary, OxboroAcquisition, Inc.

**Note 8 - Business Combination**

             On May 25, 2001, the Companycompleted the purchase of assets related to the Sterion product line of theJohnson & Johnson Medical Division of Ethicon, Inc. (J&J).  Pursuant to the purchase agreement, theassets and liability assumed of J&J became assets and liability assumed ofSterion, Inc., a wholly owned subsidiary of Oxboro Medical, Inc.  The total purchase price of $2,700,000 waspaid through bank financing and cash of the Company.  This transaction was accounted for under the purchase method ofaccounting and, accordingly, the purchase price was allocated to assets andliability based on the estimated fair values as of the purchase date.

Allocation of the purchase price(including transaction costs) was as follows:
Property  and equipment$328,137 Inventory,  net771,179 Containers425,148 Patents  and trademarks1,263,536    Total$2,788,000   
**Item2. Management's Discussion and Analysis or Plan of Operation**

**Overview**

             Oxboro Medical, Inc.("Oxboro") and its wholly-owned subsidiary, Sterion, Inc.("Sterion") (collectively, the "Company") develop,manufacture, and market medical and surgical devices.  Principal medicalproducts produced and sold by Oxboro include silicone loops, silicone andfabric clamp covers, instrument guards, suture aid booties, identificationsheet and roll tape, and various holders and organizers for instruments used inthe operating room.

Sterion engagesin the development, manufacturing and marketing (sales or rentals) ofsterilization containers and filters for use by hospitals, clinics and surgerycenters.

**Results of Operations**

             Net sales for the nine-month periodended June 30, 2001 were $4,313,852 as compared to $3,732,698 for thecorresponding period in the previous fiscal year.  This represents an increase of approximately 16%.  Net salesfor the three-month period ended June 30, 2001 were $1,670,708 as compared to$1,280,061 for the corresponding period in the previous fiscal year.  This represents an increase of $390,647 orapproximately 31%.  The principal reasonfor the increase is due to sales generated by Sterion for the period since theCompany completed the purchase of the assets related to Sterion on May 25,2001.  The sales generated by Sterionwere $338,252.  Continued competitionand pricing pressure have constrained revenue growth in the Company's existingproduct lines; however several new products have recently been added and theCompany expects these new products, together with future additions tocontribute to sales growth in the future.

             Gross profit as a percent of netsales for the first nine months of fiscal 2001 and 2000 was 60% and 64%, respectively.  Gross profit as a percent of net sales for the three-month periodended June 30, 2001 and 2000 was 58% and 64%, respectively.  The decrease in gross profit percentage forfiscal year 2001 results from a increase in labor and overhead costs beingabsorbed into cost of goods sold, with a corresponding decrease in general andadministrative expenses.  The grossprofit percentage for Sterion for the month of June 2001 was 51.8%.  Based on current information it ismanagement's belief the gross profit percentage for Sterion products will betypically lower than products sold by Oxboro. Gross profit dollars increased for the three months ended June 30, 2001compared to the corresonding period in the prior year by $151,765 and increasedfor the nine months ended June 30, 2001 compared to the corresponding period inthe prior year by $197,694.  Theprincipal reason for the increase in gross profit for the periods is due togross profit of $175,377 contributed by the Sterion business.

             Income from operations for thefirst nine months of fiscal year 2001 was $431,973 as compared to $647,282 inthe same period of fiscal 2000.  Incomefrom operations for the three-month period ended June 30, 2001 was $132,086 ascompared to $218,052 in the same period of fiscal 2000.  In the current year, general andadministrative expenses have increased because of increased staffing for futurenew product support and selling, general and administrative expenses related toSterion in the amount of $103,657.

**Liquidity and Capital Resources**

             The Company has typically financedits operations through internal working capital and a bank line of credit.Financing of its building has been through long-term bank financing. Inaddition, the Company financed the puchase of Sterion, in part, through longterm bank financing. The Company believes it has adequate capital to meet itscash requirements for the next twelve months .  As of June 30, 2001, theCompany had working capital of $3,886,553 as compared to $2,602,601 at September 30,2000, and long-term debt of $2,285,840 at June 30, 2001 compared to $379,551 atSeptember 30, 2001.  The increase in working capital and long-term debtfrom September 30, 2000 to June 30, 2001 principally relates to the proceeds ofapproximately $605,000 (net of previous mortgage paid off of approximately$370,000) of the new mortgage payable entered into in January 2001 (see note 7)and the assumption of approximately $2 million in new debt to finance theacquisition of the Sterion assets. As of June 30, 2001, the Company had$1,847,944 in cash and cash equivalents as compared to $461,108 atSeptember 30, 2000.  The increase in cash and cash equivalents ofapproximately $1.4 million from September 30, 2000 to June 30, 2001 principallyrelates to warrant proceeds of approximately $1.1 million received and the netmortgage proceeds previously noted.
             During the nine months ended June30, 2001, the Company used $546,941 in net cash from operating activitiesprimarily due to financing and working capital for the acquisition of theSterion assets.  The Company used $1,189,297 in investing activitiesduring the nine months ended June 30, 2001, primarily due to the purchases ofequipment and assets of approximately $2.1 million,  proceeds received of approximately $792,000 on the sale ofavailable-for-sale equity securities, receipt of approximately $135,000 of cashvalue of life insurance and the payment of approximately $32,000 of loanorigination fees.  TheCompany generated $3,123,074 in cash from financing activities due to warrantproceeds of approximately $1.1 million received, additional borrowing of $1.5million of long term bank financing related to the Sterion business,  and approximately  $605,000 related to the financing of its building (net of paymentson existing long term debt refinanced).

**Forward-Looking Statements**

             This report containsforward-looking statements within the meaning of Section 21E of theSecurities Exchange Act of 1934.  In addition, forward-looking statementsmay be made orally in the future by or on behalf of the Company.  Whenused in this report, the words "believe," "expect,""will," "can," "estimate," "anticipate"and similar expressions are intended to identify such forward-lookingstatements.  The Company wishes to caution readers not to place unduereliance on any forward-looking statements and to recognize that the statementsare not predictions of actual future results.  Actual results could differmaterially from those anticipated in the forward-looking statements due to therisks and uncertainties set forth in our 2000 Annual Report on Form 10-KSBunder the caption "Risks Related to Our Business," as well as othersnot now anticipated.  These risks and uncertainties include, withoutlimitation: market acceptance of the Company's products and our ability toacquire new products, our ability to successfully integrate acquisitions andsupport newly acquired product lines, pricing strategies of competitors, general conditions in the industriesserved by our products, including consolidation of customers and the potentialloss of those customers or their ability to demand discounted pricing on ourproducts, changes in management of the Company, maintenance of operatingcapital and bank financing, the continuing licensing dispute with one of ourformer officers, the success of competitive products, continuing relationshipswith our third party suppliers, and overall economic conditions, includinginflation and consumer buying patterns.

**PART II - OTHER INFORMATION**

**Item4. Submission of Matters to aVote of Security Holders**

             On March 7, 2001 theCompany held its Annual Meeting of Shareholders. Of the 1,768,683 sharesoutstanding and entitled to vote at the meeting, 1,567,364 shares were present,either in person or by proxy. The following describes the matters considered bythe Company's Shareholders at the meeting, as well as the results of the votescast at the meeting:
1.To elect two  directors to hold office as a Class II director for a three-year term.   Gary Copperud For: 1,559,008 Withheld: 8,356   Kenneth Brimmer For: 1,558,306 Withheld: 9,058   Allan Anderson's and  Gervaise Wilhelm's term of office as a director continued after the meeting.  2.To approve an  amendment to the Oxboro Medical, Inc. 2000 Stock Option Plan to increase the  number of shares available under the plan from 150,000 to 300,000.   For: 974,942 Against: 41,406 Abstain: 551 Broker Non-Vote:  550,465  
**Item 6.  Exhibitsand Reports on Form 8-K:**
(a)Exhibits:   None  (b)Reports on Form 8-K:   On May 9, 2001, the Company filed a Form 8-K,  announcing that the Company had entered into an asset purchase agreement  dated April 24, 2001 with Johnson & Johnson Medical division of Ethicon,  Inc. (the “Seller”) for the purchase of the Seller’s Sterion business  unit.  Pro forma financial information relating to the purchase, as well  as the substitution of the Company’s wholly-owned subsidiary, Oxboro  Acquisition, Inc. (now Sterion, Inc.) as the buyer, was disclosed by the  Company on July 9, 2001 by an amendment to the Form 8-K.
**SIGNATURES**

             In accordance with the requirementsof the Securities Exchange Act of 1934, the registrant caused this report to besigned on its behalf by the undersigned, thereunto duly authorized.
 OXBORO  MEDICAL, INC.  Date:  August 14, 2001By:  /s/ J. David Berkley  J.  David Berkley, President (Principal  Executive Officer)    Date:  August 14, 2001By:  /s/ Ramon L. Burton  Ramon  L Burton, Chief Financial Officer (Principal  Financial and Accounting Officer)
 **