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 SEPTEMBER 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 ______________


                      COMMISSION FILE NUMBER: 0-29897


                       WORLD AM COMMUNICATIONS, INC.
         (Exact name of registrant as specified in its charter)

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

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

                 Registrant's telephone number:  (303) 452-0022

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

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

     Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the Registrant was required to file such reports),
and (2) been subject to such filing requirements for the past 90 days.
Yes     X       No            .

     As of September 30, 2003, the Registrant had had 313,853,899
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

              REPORT ON REVIEW BY INDEPENDENT CERTIFIED
              PUBLIC ACCOUNTANT                                              3

              CONSOLIDATED BALANCE SHEET AS OF
              SEPTEMBER 30, 2003                                             4

              CONSOLIDATED STATEMENTS OF OPERATIONS
              FOR THE THREE AND NINE MONTHS ENDED
              SEPTEMBER 30, 2003 AND SEPTEMBER 30, 2002                      5

              CONSOLIDATED STATEMENTS OF CASH FLOWS
              FOR NINE MONTHS ENDED
              SEPTEMBER 30, 2003 AND SEPTEMBER 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                                       16

PART II - OTHER INFORMATION

     ITEM 1.  LEGAL PROCEEDINGS                                             16

     ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS                     16

     ITEM 3.  DEFAULTS UPON SENIOR SECURITIES                               16

     ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS           16

     ITEM 5.  OTHER INFORMATION                                             16

     ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K                              17

SIGNATURES                                                                  17

PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCAL 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 September 30, 2003 and the related
statements of operations for the three month and nine month periods
ended September 30, 2003 and 2002, and cash flows for the nine months
ended September 30, 2003 and 2002 included in the accompanying
Securities and Exchange Commission Form 10-QSB for the period ended
September 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 Company's 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 September 30, 2003 is fairly
stated in all material respects in relation to the balance sheet from
which it has been derived.


/s/  Michael Johnson & Co., LLC.
Michael Johnson & Co., LLC.
Denver, Colorado
November 18, 2003


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

ASSETS:

Current Assets:
  Cash                                                          $      31,930
  Accounts receivable                                                  51,121
  Inventory                                                             6,681
     Total Current Assets                                              89,732

Property and Equipment:
   Office equipment and computers                                      18,457
   Less accumulated depreciation                                      (11,420)
     Property and Equipment, net                                        7,037

Total Assets                                                    $      96,769

LIABILITIES AND STOCKHOLDERS' DEFICIT:

Current Liabilities:
  Accounts payable                                              $      57,787
  Accrued expenses payable                                            346,515
  Lines of credit                                                       8,250
  Notes payable - current portion                                      32,205
   Total Current Liabilities                                          444,757

Stockholders'  Deficit:
  Preferred stock, $0.0001 par value, 80,000,000 shares
      authorized, none issued and outstanding
  Common stock, $0.0001 par value, 800,000,000
      shares authorized: 313,853,899 issued and
      outstanding                                                      31,385
  Additional paid-in capital                                        6,255,624
  Retained deficit                                                 (6,634,997)
Total Stockholders' Deficit                                          (347,988)

Total Liabilities and Stockholders' Deficit                    $       96,769

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                      Nine Months Ended
                                              September 30,                          September 30,
                                          2003             2002                  2003             2002
<S>                                      <C>               <C>                   <C>            <C>
Revenues:                                $   265,014       $   110,138           $   484,290    $  333,571

Cost of Goods Sold                           142,748            44,698               253,592       102,274

Gross Profit                                 122,266            65,440               230,698       231,297

Operating Expenses:
   Sales and marketing                             -                 -                     -             -
   General and administrative                360,772           724,704             1,010,725     2,694,462
      Total Operating Expenses               360,772           724,704             1,010,725     2,694,462

Net Loss from Operations                    (238,506)         (659,264)             (780,027)   (2,463,165)

Other Income/Expenses
   Other income                                    -                 -                 3,809             -
   Other expenses                                  -                 -                     -             -
                                                   -                 -                 3,809             -

Net (Loss)                              $   (238,506)       $ (659,264)           $ (776,218)  $(2,463,165)

Weighted average number of shares
outstanding                              276,387,232       119,139,500           502,965,865   113,027,444

Net Loss Per Share                      $     (0.001)       $   (0.006)           $   (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)

                                                           Nine Months Ended
                                                             September 30,
                                                           2003          2002

Cash Flows From Operating Activities:
  Net (Loss)                                          $  (776,218) $(2,463,165)
  Adjustments to reconcile net loss to net cash
    used in operating activities:
   Depreciation and amortization                            2,586        1,000
   Stock issued for services                              662,354    2,386,428
   Changes in assets and liabilities:
     Decrease (Increase) in accounts receivable           (44,106)     (34,624)
     Decrease (Increase) in inventory                         (80)      (7,530)
     Increase in prepaid expenses                               -      (71,500)
     Increase in accounts payable                           1,551      (14,812)
     Increase in payroll liabilities                      141,777       79,274
    (Decrease) in accrued expenses                              -        6,656

                                                          764,082    2,344,892
        Net Cash Used in Operating Activities             (12,136)    (118,273)

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                        -      115,600
  Proceeds (payments) from line of credit                   1,584            -
  Proceeds from notes payable                              19,000       16,522

        Net Cash Provided By Financing Activities          20,584      132,122

 (Decrease) Increase in Cash                                6,519       13,849

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

Cash and Cash Equivalents - End of period                  31,930       22,087

Supplemental Cash Flow Information:
  Interest paid                                                 -            -
  Taxes paid                                                    -            -

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 September 30, 2003, and the results of operations for
the three months and nine months ended September 30, 2003 and 2002,
and cash flows for the nine months ended September 30, 2003 and 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.

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
elsewhere in this Form 10-QSB.

Results of Operations.

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



<TABLE>
<CAPTION>
                                           Three Months Ended                      Nine Months Ended
                                              September 30,                          September 30,
                                          2003             2002                  2003             2002
<S>                                      <C>               <C>                   <C>            <C>
Revenues:                                $  265,014       $   110,138          $  484,290    $    333,571

Cost of Goods Sold                          142,748            44,698             253,592         102,274

Gross Profit                                122,268            65,440             230,698         231,297

Operating Expenses:
Sales and Marketing                               -                 -                   -               -
General and Administrative                  360,772           724,704           1,010,725       2,694,462
Total Operating Expenses                    360,772           724,704           1,010,725       2,694,462

Net Loss from Operations                   (238,506)         (659,264)           (780,027)     (2,463,165)

Other Income/Expenses
Other income                                      -                 -               3,809               -
Other expenses                                    -                 -                   -               -
                                                  -                 -               3,809               -

Net (Loss)                               $ (238,506)      $  (659,264)         $ (776,218)    $(2,463,165)

Weighted average number of shares
outstanding                             276,387,232       119,139,500         502,965,865     113,027,444

Net Loss Per Share                       $   (0.001)      $    (0.006)         $   (0.002)    $     (0.02)
</TABLE>



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

(a)  Revenues.

     Revenues for the quarter ended September 30, 2003, were $265,014
as compared with $110,138 for the corresponding quarter in 2002, an
increase of $154,876 or approximately 140%.  The revenue generated for
the nine months ended September 30, 2003 was $484,290 as compared with
$333,571 for the corresponding period in 2002, an increase of $150,719
or approximately 45%.  These increases in revenue are the results of
increased sales activity.  Management will strive to reach break-even
and profitable operations during 2004.  Management believes the
company will reach or exceed revenue objectives for 2003.

(b)  General and Administrative Expenses.

     Total operating expenses for the quarter ended September 30,
2003, were $360,772 as compared to $724,704 for the corresponding
quarter in 2002, a reduction of $363,932 or approximately 50%.  For
the nine months ended September 30, 2003, total operating expenses
were $1,010,725 as compared to $2,694,462 for the corresponding nine-
month period during 2002, a reduction of $1,683,737 or approximately
63%.  The decrease in operating expenses is primarily due to the
company being able to finance a greater part of its operations from
cash flows and becoming less dependent upon stock issuances for
services.  Although the general and administrative expense continue 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
company hopes to continue to reduce such compensation amounts as
revenues increase..

(c)  Net Operating Losses.

     The net loss from operations for the three months ending
September 30, 2003, was $238,506 as compared to $659,264 during the
corresponding period of 2002, a decrease of $420,788 or approximately
64%.  For the nine-month period ended September 30, 2003, the net loss
from operations was $780,027 as compared to $2,463,165 for the
corresponding nine-month period of 2002, a decrease of $1,683,138 or
approximately 68%. Management believes these results are a direct
reflection of continued efforts to control expenses and to increase
the net results of operations.  Although the operations are still
losing money, the rate of loss has been slowed substantially.

Factors That May Affect Operating Results.

     The operating results of the Registrant can vary significantly
depending upon a number of factors, many of which are outside the
company's control.  Factors that may affect the company's operating
results include:

     - market acceptance of and changes in demand for products and
       services;

     - a small number of customers account for, and may in future
       periods account for, substantial portions of our revenue, our
       revenue could decline because of delays of customer orders or the
       failure to retain customers;

     - gain or loss of clients or strategic relationships;

     - announcement or introduction of new services and products by the
       company or by its competitors;

     - the ability to build brand recognition;

     - timing of sales to customers;

     - price competition;

     - the ability to upgrade and develop systems and infrastructure to
       accommodate growth;

     - the ability to attract and integrate new personnel in a timely
       and effective manner;

     - the ability to introduce and market products and services in
       accordance with market demand;

     - changes in governmental regulation;

     - reduction in or delay of capital spending by clients due to the
       effects of terrorism, war and political instability; and

     - general economic conditions.

The Registrant is also subject to the following specific factors that
may affect the company's operating results:

(a)  Competition.

     The market for products and services offered by the
Registrant is highly competitive.  The Registrant's future success
will depend on its ability to adapt to rapidly changing technologies,
evolving industry standards, product offerings and evolving demands of
the marketplace.

     Some of the Registrant's competitors have:

     - longer operating histories;

     - larger customer bases;

     - greater name recognition and longer relationships with clients;

and

     - significantly greater financial, technical, marketing, public
       relations and managerial resources than the company.

     Competitors may develop or offer services that provide
significant (technological, creative, performance, price) or other
advantages over the products offered by the Registrant .  If the
company fails to gain market share or lose existing market share, our
financial condition, operating results and business could be adversely
affected and the value of the investment in the company could be
reduced significantly.   The Registrant  may not have the financial
resources, technical expertise or marketing, distribution or support
capabilities to compete successfully.

(b)  Technological and Market Changes.

     The markets in which the Registrant competes are characterized by
rapid technological change, frequent new product introductions,
evolving industry standards and changing needs of customers.  There
can be no assurance that the Registrant's existing products will
continue to be properly positioned in the market or that the company
will be able to introduce new or enhanced products into the market on
a timely basis, or at all.  Currently, the Registrant is focusing on
upgrading and introducing new products.  There can be no assurance
that enhancements to existing products or new products will receive
customer acceptance.  As competition in the electronic payments
industry increases, it may become increasingly difficult for us to be
competitive .

     Risks associated with the development and introduction of new
products include delays in development and changes in payment
processing, and operating system technologies that could require the
Registrant to modify existing products.  There is also the risk to the
Registrant that there may be delays in initial shipments of new
products. Further risks inherent in new product introductions include
the uncertainty of price-performance relative to products of
competitors, competitors' responses to the introductions and the
desire by customers to evaluate new products for longer periods of
time.

(c)  New Versions of Registrant's Products May Contain Errors or
Defects.

     The Registrant's products are complex and, accordingly, may
contain undetected errors or failures when first introduced or as new
versions are released.  This may result in the loss of, or delay in,
market acceptance of the Registrant's products.  The Registrant may in
the future discover errors and additional scalability limitations in
new releases or new products after the commencement of commercial
shipments or be required to compensate customers for such limitations
or errors, as a result of which the Registrant's business, cash flow,
financial condition and results of operations could be materially
adversely affected.

(d)  Protection of Proprietary Rights.

     The Registrant's success and ability to compete will be dependent
in part on the protection of its potential patents, trademarks, trade
names, service marks and other proprietary rights.  The Registrant
intends to rely on trade secret and copyright laws to protect the
intellectual property that it plans to develop, but there can be no
assurance that such laws will provide sufficient protection to the
Registrant, that others will not develop a service that are similar or
superior to the Registrant's, or that third parties will not copy or
otherwise obtain and use the Registrant's proprietary information
without authorization.  In addition, certain of the Registrant's know-
how and proprietary technology may not be patentable.

     The Registrant may rely on certain intellectual property licensed
from third parties, and may be required to license additional products
or services in the future, for use in the general operations of its
business plan.  The Registrant currently has no licenses for the use
of any specific products.  There can be no assurance that these third
party licenses will be available or will continue to be available to
the Registrant on acceptable terms or at all.  The inability to enter
into and maintain any of these licenses could have a material adverse
effect on the Registrant's business, financial condition or operating
results.

     There is a risk that some of the Registrant's products may
infringe the proprietary rights of third parties.  In addition,
whether or not the Registrant's products infringe on proprietary
rights of third parties, infringement or invalidity claims may be
asserted or prosecuted against it and it could incur significant
expense in defending them.  If any claims or actions are asserted
against the company, it may be required to modify its products or seek
licenses for these intellectual property rights.  The Registrant may
not be able to modify its products or obtain licenses on commercially
reasonable terms, in a timely manner or at all.  The Registrant's
failure to do so could have a negative affect on its business and revenues.

(e)  Economic Slowdown.

     The slowdown in the U.S. and European economies has affected the
market for the Registrant's products, and the company's future
financial results from operations will depend, in part, upon whether
this slowdown continues.  In addition, the Registrant's business can
be affected by the general condition of the world economy, as well as
by social, political and military conditions.  In light of the current
economic environment these factors could have a material adverse
impact on the Registrant's business, operating results, and financial
condition and we may continue to incur losses for the foreseeable future.

(f)  Key Personnel.

     The Registrant's success is largely dependent on the
personal efforts and abilities of the company's senior management.
The loss of certain members of the Registrant's senior management,
including the company's chief executive officer, chief financial
officer and chief technical officer, could have a material adverse
effect on the company's business and prospects.

     The Registrant intends to recruit in fiscal year 2004 employees
who are skilled in the products of the company.  The failure to
recruit these key personnel could have a material adverse effect on
the Registrant's business. As a result, the Registrant may experience
increased compensation costs that may not be offset through either
improved productivity or higher revenue.  There can be no assurances
that we will be successful in retaining existing personnel or in
attracting and recruiting experienced qualified personnel.

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 September 30, 2003, the
Registrant had no significant sources of liquidity.

     For the quarter ended September 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 September 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 nine months 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.

     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, insufficient funding may have a material
adverse effect on our financial condition, which could require the
company to:

     curtail operations significantly;

     sell significant assets;

     seek arrangements with strategic partners or other parties that
     may require the company to relinquish significant rights to
     products, technologies or markets; or

     explore other strategic alternatives including a merger or sale
     of the company.

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.

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.

Critical Accounting Policies.

     The Securities and Exchange Commission has 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: the use of
estimates in the preparation of financial statements and 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 company reports in its financial
statements.

(a)  Use of Estimates.

     The foregoing discussion and analysis of the Registrant's
financial condition and results of operations is based upon its
consolidated financial statements, which have been prepared in
accordance with accounting principles generally accepted in the United
States. The preparation of these financial statements requires the
company to make estimates and judgments that affect the reported
amounts of assets, liabilities, revenues and expenses, and related
disclosure of contingent assets and liabilities. On an on-going basis,
the company evaluates these estimates, including those related to
revenue recognition and concentration of credit risk.  The Registrant
bases its estimates on historical experience and on various other
assumptions that it believes to be reasonable under the circumstances,
the results of which form the basis for making judgments about the
carrying values of assets and liabilities that are not readily
apparent from other sources. Actual results may differ from these
estimates under different assumptions or conditions

(b)  Stock-Based Compensation Arrangements.

     The Registrant issues shares of common stock to various
individuals and entities for management, legal, consulting and
marketing services.  These issuances are valued at the fair market
value of the service provided and the number of shares issued is
determined, based upon the open market closing price of common stock
as of the date of each respective transaction.  These transactions are
reflected as a component of consulting expenses or selling, general
and administrative expenses in the accompanying statement of 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 of the Securities Act of
1933, as amended, and Rule 3b-6 of the Securities Act of 1934, as
amended.  The words "believe," "expect," "anticipate," "intends,"
"forecast," "project," and similar expressions identify forward-
looking statements.  These are statements that relate to future
periods and include, but are not limited to, statements as to the
Registrant's estimates as to the adequacy of its capital resources,
its need and ability to obtain additional financing, the features and
benefits of its products, its growth strategy, the need for additional
sales and support staff, its operating losses and negative cash flow,
its critical accounting policies, its profitability and factors
contributing to its future growth and profitability.  Forward-looking
statements are subject to certain risks and uncertainties that could
cause actual results to differ materially from those projected. These
risks and uncertainties include, but are not limited to, those
discussed above, as well as risks related to the Company's ability to
develop new technology and introduce new products, its ability to
protect its intellectual property, and its ability to find additional
financing.  These forward-looking statements speak only as of the date
hereof.  The Registrant expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in
its expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.

ITEM 3.  CONTROLS AND PROCEDURES.

Controls and Procedures.

(a)  Evaluation of disclosure controls and procedures.

     Within the 90 days prior to the end of the period covered by 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 Exchange Act of 1934
("Exchange Act").  This evaluation was done under the supervision and
with the participation of the Registrant's president.  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.

     None.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS.

     The Registrant did not sell any unregistered (restricted) equity
securities during the quarter ended September 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 Registrant filed the following report on Form 8-K during the
third quarter of the fiscal year covered by this Form 10-QSB:

     A Form 8-K filed on July 8, 2003 to report changes of officers
and directors of the Registrant.

                                  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.

                                       World Am Communications, Inc.



Dated: January 28, 2004                By: /s/ James Alexander
                                       James Alexander, President


Dated: January 28, 2004                By: /s/  Thomas E. Ferneau, III
                                       Thomas E. Ferneau, III,
                                       Chief Financial Officer


                                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).

2.2     Stock Purchase Agreement between the Registrant, Isotec,
        Incorporated, and selling shareholders, dated February 22,
        2000 (incorporated by reference to Exhibit 2.2 of the Form
        10-QSB filed on May 21, 2001).

3.1     Articles of Incorporation, dated July 5, 2002 (see below).

3.2     Certificate of Amendment to Articles of Incorporation, dated
        August  20, 2002 (see below).

3.3     Certificate of Amendment to Articles of Incorporation, dated
        December 20, 2002 (see below).

3.4     Bylaws, dated May 15, 2000 (incorporated by reference to
        Exhibit 3.2 of the Form 8-K12g-3 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 4.1
        of 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, dated September 12, 2002 (incorporated by reference to
        Exhibit 4 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 of the Form S-8
        filed on December 23, 2002)

4.8     2003 Consultants Stock Compensation Plan dated August 19,
        2003 (incorporated by reference to Exhibit 4 of the Form S-8
        filed on August 22, 2003).

4.9     2003  Non-Qualified  Stock  Option  Plan, dated September
        29, 2003  (incorporated by reference to Exhibit 4 of the
        Form S-8 filed on October 1, 2003).

21      Subsidiaries of the Registrant (incorporated by reference to
        Exhibit 21 of the Form 10-KSB filed on April 16, 2002).

31.1    Rule 13a-14(a)/15d-14(a) Certification of James H. Alexander
        (see below).

31.2    Rule 13a-14(a)/15d-14(a) Certification Thomas E. Ferneau,
        III (see below).

32      Section 1350 Certification of James H. Alexander and Thomas
        E. Ferneau, III (see below).

99      Press release issued by the Registrant, dated October 7,
        2003 (incorporated by reference to Exhibit 99 of the Form 8-
        K filed on December 30, 2003).