U.S. SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549

                                     FORM 10-QSB/A

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE
30, 2003

                                           OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM
______________ TO ______________


                               WORLD AM COMMUNICATIONS, INC.

                               COMMISSION FILE NUMBER: 0-29897

                  Nevada                                        59-3253968
(State or jurisdiction of incorporation or organization)       (IRS Employer
                                                           Identification No.)

             1400 West 122nd Avenue, Suite 104, Westminster, Colorado 80234
                          (Address of principal executive offices)

                                       (303) 452-0022
                                 (Issuer's telephone number)

     Securities registered under Section 12(b) of the Exchange Act: None

         Securities registered under Section 12(g) of the Exchange
                      Act: Common Stock, $0.0001 Par Value

     As of June 30, 2003, the Registrant had 257,653,899 shares of
common stock issued and outstanding.

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

                                     TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION                                       PAGE

ITEM 1. FINANCIAL STATEMENTS                                            3

REPORT ON REVIEW BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT             3

     CONSOLIDATED BALANCE SHEET AS OF JUNE 30, 2003
     AND AUDITED BALANCE SHEET AS OF DECEMBER 31, 2002                  4

     CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE
     THREE MONTHS ENDED JUNE 30, 2003 AND MARCH 31, 2002,
     AND THE SIX MONTHS ENDED JUNE 30, 2003 AND JUNE 30, 2002.          5

     CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE
     SIX MONTHS ENDED JUNE 30, 2003 AND JUNE 30, 2002                   6

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS                              7

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
     FINANCIAL CONDITION AND RESULTS OF OPERATIONS                      8

ITEM 3. CONTROLS AND PROCEDURES                                         9

PART II - OTHER INFORMATION                                             9

ITEM 1. LEGAL PROCEEDINGS                                               9

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS                       9

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES                                9

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS             9

ITEM 5. OTHER INFORMATION                                               9

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K                                9

SIGNATURES                                                             10

PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

REPORT ON REVIEW BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT


To the Board of Directors
World Am Communications, Inc.
Westminster, Colorado

We have reviewed the accompanying balance sheet of World-Am
Communications, Inc. as of June 30, 2003 and the related statements
of operations for the three month and six month period ended June 30,
2003 and 2002, and the cash flows for the six months ended June 30,
2003 and 2002 included in the accompanying Securities and Exchange
Commission Form 10-QSB for the period ended June 30, 2003.  These
financial statements are the responsibility of the Company's management.

We conducted our reviews in accordance with standards established by
the American Institute of Certified Public Accountants.  A review of
interim financial information consists principally of applying
analytical procedures to financial data and making inquiries of
persons responsible for financial and accounting matters.  It is
substantially less in scope than an audit conducted in accordance
with U.S. generally accepted auditing standards, the objective of
which is the expression of an opinion regarding the financial
statements as a whole.  Accordingly, we do not express such an opinion.

Based on our reviews, we are not aware of any material modifications
that should be made to the accompanying financial statements for them
to be in conformity with U.S. generally accepted accounting principles.

We have previously audited, in accordance with U.S. generally
accepted auditing standards, the balance sheet as of December 31,
2002, and the related statements of operations, stockholders' equity
and cash flows for the year then ended (not presented herein).  In
our report dated March 29, 2003, we expressed an unqualified opinion
on those financial statements.  In our opinion, the information set
forth in the accompanying balance sheet as of June 30, 2003 is fairly
stated in all material respects in relation to the balance sheet from
which it has been derived.


Michael Johnson & Co., LLC.
Denver, Colorado
August 6, 2003

                          WORLD AM COMMUNICATIONS, INC.
                           CONSOLIDATED BALANCE SHEET
                                   June 30, 2003
                                    (Unaudited)

                                                  June 30        December 31
                                                    2003             2002

ASSETS:

Current Assets:
  Cash                                           $     7,493     $     25,411
  Accounts receivable                                 63,003            7,015
  Inventory                                            7,034            6,601
     Total Current Assets                             77,530           39,027

Property and Equipment:
   Office equipment and computers                     18,457           16,528
   Less accumulated depreciation                     (10,558)          (8,834)
     Property and Equipment, net                       7,899            7,694

TOTAL ASSETS                                          85,429           46,721

                    LIABILITIES AND STOCKHOLDERS'  DEFICIT:

Current Liabilities:
  Accounts payable                                  106,765            56,236
  Taxes payable                                     329,948           204,738
  Lines of credit                                     6,066             6,666
  Notes payable - current portion                    38,402            13,205

   Total Current Liabilities                        481,181           280,845

Stockholders'  Deficit:
    Preferred stock,  $.0001 par value, 80,000,000
       shares authorized, none issued and
        outstanding                                       -                 -

   Common stock, $.0001 par value, 800,000,000
    shares authorized: 257,653,899 and 679,735,899
    issued and outstanding at June 30, 2003
    and December 31, 2002                           25,765             67,973
    Respectively
  Additional paid-in capital                     5,974,974          5,556,682
  Retained deficit                              (6,396,491)        (5,858,779)
Total Stockholders' Deficit                       (395,752)          (234,124)

TOTAL LIABILITIES AND STOCKHOLDERS'  DEFICIT        85,429             46,721

The accompanying notes are an integral part of these financial statements.

                           WORLD AM COMMUNICATIONS, INC.
                        CONSOLIDATED STATEMENTS OF OPERATIONS
                                     (Unaudited)


<TABLE>
<CAPTION>
                                                  Three months ended          Six months ended
                                                        June 30,                 June 30,
                                                    2003        2002           2003      2002
<S>                                                <C>         <C>          <C>         <C>
REVENUES:                                          $  193,556  $   89,677   $  219,276  $  223,433

COST OF GOODS SOLD                                    110,844      11,971      110,844      57,576

GROSS PROFIT                                           82,712      77,706      108,432     165,857

OPERATING EXPENSES:
Sales and Marketing                                         -           -            -           -
General and Administrative                            206,555     779,942      649,953   1,969,758
Total Operating Expenses                              206,555     779,942      649,953   1,969,758

Net Loss from Operations                             (123,843)   (702,236)    (541,521) (1,803,901)

OTHER INCOME/EXPENSES
Other income                                            3,809           -        3,809           -
Other expenses                                              -           -            -           -
                                                        3,809           -        3,809           -

NET (LOSS)                                           (120,034)   (702,236)    (537,712) (1,803,901)

Weighted average number of shares outstanding     236,194,899 100,200,994  218,694,899  78,161,688

Net Loss Per Share                                     (0.001)      (0.01)      (0.002)      (0.02)
</TABLE>

The accompanying notes are an integral part of these financial statements.

                                WORLD AM COMMUNICATIONS, INC.
                            CONSOLIDATED STATEMENTS OF CASH FLOWS
                                          (Unaudited)

                                                            Six Months Ended
                                                                June 30,
                                                            2003        2002

Cash Flows From Operating Activities:
  Net (Loss)                                           $ (537,712) $(1,803,901)
  Adjustments to reconcile net loss to net cash
    used in operating activities:
   Depreciation and amortization                            1,724        1,000
   Stock issued for services                              375,651    1,780,330
   Changes in assets and liabilities:
     Decrease (Increase) in accounts receivable           (55,988)     (41,412)
     Decrease (Increase) in inventory                           -       10,362
     Increase in prepaid expenses                               -       (6,500)
     Increase in accounts payable                          50,529       12,348
     Increase in payroll liabilities                      125,210       51,318
    (Decrease) in accrued expenses                              -        2,282
                                                          497,126    1,809,728

Net Cash Used in Operating Activities                     (40,586)       5,827

Cash Flow From Investing Activities:
  Purchase of equipment                                    (1,929)           -
  Net Cash Used In Investing Activities                    (1,929)           -

Cash Flow From Financing Activities:
  Proceeds from issuance of common stock                        -            -
  Proceeds (payments) from line of credit                    (600)           -
  Proceeds from notes payable                              25,197       16,522
  Net Cash Provided By Financing Activities                24,597       16,522

(Decrease) Increase in Cash                               (17,918)      22,349

Cash and Cash Equivalents - Beginning of period            25,411        8,238

Cash and Cash Equivalents - End of period                   7,493       30,587

The accompanying notes are an integral part of these financial statements.


                             WORLD-AM COMMUNICATIONS, INC.
                        NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                      (Unaudited)

1.  PRESENTATION OF INTERIM INFORMATION

In the opinion of the management of World-Am Communications, Inc.,
the accompanying unaudited financial statements include all normal
adjustments considered necessary to present fairly the financial
position as of June 30, 2003, and the results of operations and cash
flows for the three months ended June 30, 2003 and 2002; and for the
months ended June 30, 2003 and June 30, 2002. Interim results are not
necessarily indicative of results for a full year.

The financial statements and notes are presented as permitted by Form
10-QSB, and do not contain certain information included in the
Company's audited financial statements and notes for the fiscal year
ended December 31, 2002 contained in a Form 10-KSB.

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

The following discussion and analysis of financial condition and
results of operations should be read in conjunction with the
Registrant's consolidated financial statements and notes thereto.

Results of Operations.

The following table presents, for the periods indicated, the dollar
value which certain items reflected in the Registrant's Statement of
Operations.


<TABLE>
<CAPTION>
                                                  Three months ended          Six months ended
                                                        June 30,                 June 30,
                                                    2003        2002           2003      2002
<S>                                                <C>         <C>          <C>         <C>
REVENUES:                                         $  193,556  $   89,677    $  219,276  $ 223,433

COST OF GOODS SOLD                                   110,844      11,971       110,844     57,576

GROSS PROFIT                                          82,712      77,706       108,432    165,857

OPERATING EXPENSES:
Sales and Marketing                                        -           -             -          -
General and Administrative                           206,555     779,942       649,953  1,969,758
Total Operating Expenses                             206,555     779,942       649,953  1,969,758

Net Loss from Operations                            (123,843)   (702,236)     (541,521) (1,803,901)

OTHER INCOME/EXPENSES
Other income                                           3,809           -         3,809           -
Other expenses                                             -           -             -           -
                                                       3,809           -         3,809           -

NET (LOSS)                                          (120,034)   (702,236)     (537,712) (1,803,901)

Weighted average number of shares outstanding    236,194,899 100,200,994   218,694,899  78,161,688

Net Loss Per Share                                    (0.001)      (0.01)       (0.002)      (0.02)
</TABLE>


Interim results are not necessarily indicative of results for a full year.

(a)  Revenues.

Revenues for the quarter ended June 30, 2003, were $193,556 as
compared with $89,677 for the corresponding quarter in 2002. Although
reported revenue for the corresponding period was $103,979 more than
for the corresponding period in 2002, the revenue generated for the
year to date 2003 was $219,276 as compared with $223,433 for the
corresponding period in 2002 or $4,157.00 less revenue for the six
months ended June 30, 2003, than for the corresponding period during
2002. Management believes the company will reach revenue objectives
for 2003.

(b)  General and Administrative Expenses.

The general and administrative expense continues to reflect the
impact of the use of Form S-8 stock to compensate needed services by
various professionals in the absence of equity funding. The
Registrant may file a registration statement subsequent to the
submission of this document.

Liquidity and Capital Resources

The Registrant has required a substantial amount of working capital
to fund its operations and market development. In the absence of any
equity investment, it has relied upon short-term borrowings in the
form of purchase order and invoice factoring and the use of From S-8
common shares as mentioned above. As of June 30, 2003, the Registrant
had no significant sources of liquidity.

For the quarter ended June 30, 2003, Registrant had operating losses
reflecting the developmental nature of its operation; it does
however, foresee its efforts culminating in sufficient cash flows to
service its debts.

During the quarter ended June 30, 2003, increased order tempo and
inquiries continued. The continued pace of inquiries and initial
orders for the types of products sold by Isotec (wholly owned
subsidiary of the Registrant) seem to indicate that predicted
increases of spending for these types of products are beginning to be
realized. During the first half of 2003 the Registrant continued to
pursue business opportunities with respect to acquisition of other
synergistic companies, joint ventures and teaming arrangements.
Although the SARS epidemic slowed progress with respect to the joint
venture; Comfort Isotec, with a Chinese manufacturing company; The
Registrant believes the primary objective of the joint venture; to
expand the offering of selected Isotec access control portals to the
Chinese and worldwide market at the most competitive pricing
possible, can still be reached. Management also believes that it has
the ability to attract the necessary capital to carry out its plan.
Management has targeted certain companies that may have an interest
in entering into a business combination.

The Registrant continues to explore sources of financing in lieu of
equity lines of credit to fund operations and provide the Registrant
with the ability to liquidate, modify, extend or otherwise satisfy
present or future indebtedness of the Registrant. While the
Registrant's management believes it will be successful in arranging
adequate lines of equity or debt financing to carry out its business
plan, there is no assurance of that occurring.

While the Registrant's management believes it will be successful in
arranging adequate lines of equity or debt financing to carry out its
business plan, there is no assurance of that occurring. The
Registrant's continued operations, as well as the implementation of
its business plan, therefore will depend upon its ability to raise
additional funds through bank borrowings, equity or debt financing.
The Registrant estimates that it will need to raise up to $2,000,000
over the next twelve months for such purposes. However, adequate
funds may not be available when needed or may not be available on
favorable terms to the Registrant. The ability of the Registrant to
continue as a going concern is dependent on additional sources of
capital and the success of the Registrant's business plan. Regardless
of whether the Registrant's cash assets prove to be inadequate to
meet the Registrant's operational needs, the Registrant might seek to
compensate providers of services by issuance of stock in lieu of cash.

If funding is insufficient at any time in the future, the Registrant
may not be able to take advantage of business opportunities or
respond to competitive pressures, any of which could have a negative
impact on the business, operating results and financial condition. In
addition, if additional shares were issued to obtain financing, or
compensate service providers, existing shareholders may suffer a
dilutive effect on their percentage of stock ownership in the Registrant.

(d)  Impact of Inflation

The impact of inflation on the costs of the Registrant, and the
ability to pass on cost increases to its customers over time is
dependent upon market conditions. The Registrant is not aware of any
inflationary pressures that have had any significant impact on the
Registrant's operations over the past year and, the Registrant does
not anticipate that inflationary factors will have a significant
impact on future operations.

Forward Looking Statements.

The foregoing Management's Discussion and Analysis of Financial
Condition and Results of Operations contains "forward looking
statements" within the meaning of Rule 175 under the Securities Act
of 1933, as amended, and Rule 3b-6 under the Securities Act of 1934,
as amended, including statements regarding, among other items, the
Registrant's business strategies, continued growth in the
Registrant's markets, projections, and anticipated trends in the
Registrant's business and the industry in which it operates.  The
words "believe," "expect," "anticipate," "intends," "forecast,"
"project," and similar expressions identify forward-looking
statements.  These forward-looking statements are based largely on
the Registrant's expectations and are subject to a number of risks
and uncertainties, certain of which are beyond the Registrant's
control.  The Registrant cautions that these statements are further
qualified by important factors that could cause actual results to
differ materially from those in the forward looking statements,
including, among others, the following: reduced or lack of increase
in demand for the Registrant's products, competitive pricing
pressures, changes in the market price of ingredients used in the
Registrant's products and the level of expenses incurred in the
Registrant's operations.  In light of these risks and uncertainties,
there can be no assurance that the forward- looking information
contained herein will in fact transpire or prove to be accurate.  The
Registrant disclaims any intent or obligation to update "forward
looking statements."

Critical Accounting Policies.

The Securities and Exchange Commission ("SEC") recently issued
Financial Reporting release No. 60, "Cautionary Advice Regarding
Disclosure About Critical Accounting Policies" (FRR 60"), suggesting
companies provide additional disclosure and commentary on their most
critical accounting policies. In FRR 60, the SEC defined the most
critical accounting policies as the ones that are most important to
the portrayal of a company's financial condition and operating
results, and require management to make its most difficult and
subjective judgments, often as a result of the need to make estimates
of matters that are inherently uncertain. Based on this definition,
the registrant's most critical accounting policies include: non-cash
compensation valuation that affects the total expenses reported in
the current period. The methods, estimates and judgments the
Registrant uses in applying these most critical accounting policies
have a significant impact on the results the registrant reports in
its financial statements.

ITEM 3.  CONTROLS AND PROCEDURES.

(a) Evaluation of disclosure controls and procedures.

Within the 90 days prior to the date of filing this report, the
Registrant carried out an evaluation of the effectiveness of the
design and operation of its disclosure controls and procedures
pursuant to Rule 13a-14 under the Securities and Exchange Act of 1934
("Exchange Act"). This evaluation was done under the supervision and
with the participation of the Registrant's President and Chief
Financial Officer. Based upon that evaluation, they concluded that
the Registrant's disclosure controls and procedures are effective in
gathering, analyzing and disclosing information needed to satisfy the
Registrant's disclosure obligations under the Exchange Act.

(b) Changes in internal controls.

There were no significant changes in the Registrant's internal
controls or in its factors that could significantly affect those
controls since the most recent evaluation of such controls.

PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS.

Other than as set forth below, the Registrant is not a party to any
material pending legal proceedings and, to the best of its knowledge,
no such action by or against the Registrant has been threatened.

On December 11, 2002, Isotec, Inc. was named in a civil complaint
filed in Adams County District Court, Colorado. Plaintiffs, Harsh
Development, LLC et al., alleged defaults of contractual obligations
and nonpayment of debt in connection with services alleged to have
been performed by the plaintiffs for the benefit of defendants. On
June 23, 2003, this matter was settled for $30,000.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS.

     The Registrant did not sell any unregistered (restricted) equity
securities during the quarter ended June 30, 2003.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES.

     Not Applicable.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

     None.

ITEM 5.  OTHER INFORMATION.

     None.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.

Exhibits.

     Exhibits included or incorporated by reference herein are set
forth in the attached Exhibit Index.

Reports on Form 8-K.

The Company made three filings on Form 8-K during the second quarter
of the fiscal year covered by this Form 10-QSB.

April 24, 2003          The Company disclosed on Form 8-K that a
                        proposed joint venture between the Company
                        and Chinese company had been approved by
                        the People's Republic of China

June 13, 2003           The Company disclosed on Form 8-K that it had
                        cancelled a previous issuance of 500,000,000 shares.

                                  SIGNATURES

     In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

Dated: August 15, 2003                 World Am Communications, Inc.
                                       By: /s/ James H. Alexander
                                       James H. Alexander
                                       President/Treasurer

                               EXHIBIT INDEX

Number                    Description

2.1     Agreement and Plan of Merger between the Registrant and
        Allmon Corporation dated May 11, 2000
        (incorporated by reference to Exhibit 2.1 of
        the Form 8-K12g-3 filed on May 16, 2000).

3.1     Articles of Incorporation dated June 29, 1994
        (incorporated by reference to Exhibit 3.1 of
        the Form 8-K12G3 filed on May 16, 2000).

3.2     Amended Articles of Incorporation dated April
        6, 1995 (incorporated by reference to Exhibit
        3.1 of the Registration Statement on Form 8-
        K12G3 filed on May 16, 2000).

3.3     Articles of Amendment to Articles of
        Incorporation dated February 7, 1997
        (incorporated by reference to Exhibit 3.1of
        the Form 8-K12G3 filed on May 16, 2000).

3.4     Articles of Amendment to Articles of
        Incorporation dated July 2, 1997
        (incorporated by reference to Exhibit 3.1 of
        the Form 8-K12G3 filed on May 16, 2000).

3.5     Articles of Amendment to the Articles of
        Incorporation dated August 17, 1998
        (incorporated by reference to Exhibit 3.1 of
        the Form 8-K12G3 filed on May 16, 2000).

3.6     Articles of Amendment to Articles of
        Incorporation dated January 18, 2000
        (incorporated by reference to Exhibit 3.6 of
        the Form 10-QSB filed on August 14, 2001).

3.7     Bylaws dated May 15, 2000 (incorporated by
        reference to Exhibit 3.2 of the Form 8-K12G3
        filed on May 16, 2000).

4.1     Employee Stock Incentive Plan, dated January
        22, 2001 (incorporated by reference to
        Exhibit 4.1 of the Form S-8 filed on January 29, 2001).

4.2     Non-Employee Directors and Consultants
        Retainer Stock Plan dated January 5, 2001
        (incorporated by reference to Exhibit 4.2 of
        the Form S-8 filed on January 29, 2001).

4.3     Common Stock Purchase Agreement between the
        Registrant and Four Way Associates, Inc.
        dated June 1, 2001 (incorporated by reference
        to Exhibit 4.3 of the Form SB-2 filed on
        August 28, 2001).

4.4     Amended and Restated Employee Stock Incentive
        Plan dated November 20, 2001 (incorporated by
        reference to Exhibit 4.1of the Form S-8 POS
        filed on January 31, 2002).

4.5     Amended and Restated Non-Employee Directors
        and Consultants Retainer Stock Plan, dated
        November 20, 2001 (incorporated by reference
        to Exhibit 4.2 of the Form S-8 POS filed on
        January 31, 2002).

4.6     2002 Non-Employee Directors and Consultants
        Retainer Stock Plan (incorporated by
        reference to Exhibit 4.2 of the Form S-8
        filed on September 18, 2002)

4.7     2002 Stock Compensation Plan dated December
        16, 2002 (incorporated by reference to
        Exhibit 4.2 of the Form S-8 filed on December 23, 2002)

10.1    Employment Agreement between Registrant and
        James Alexander dated February 20, 2002, as
        amended (incorporated by reference to Exhibit
        10.1 on Form 10KSB/A as filed on April 24, 2003).

21      Subsidiaries of the Registrant (incorporated
        by reference to Exhibit 21 on Form 10KSB/A as
        filed on April 24, 2003).

31     Certification Pursuant to Section 302 of the Sarbanes-Oxley Act
       of 2002 (filed herewith)

32     Certification Pursuant to 18 U.S. C. Section 1350, as adopted
       pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (filed
       herewith)