SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549
                                  Form 10-KSB/A


[X] ANNUAL REPORT UNDER SECTION 13 OR 15(D) OF THE
    SECURITIES EXCHANGE ACT OF 1934


                   FOR THE FISCAL YEAR ENDED DECEMBER 31, 2003
                         Commission File Number 0-14910


                             MPM TECHNOLOGIES, INC.
             (Exact Name of Registrant as specified in its Charter)


          WASHINGTON                              81-0436060
          ----------                              ----------
(State or other jurisdiction of        (I.R.S. Employer Identification Number)
incorporation or organization)


                 199 POMEROY ROAD, PARSIPPANY, NEW JERSEY 07054
                    (Address of principal executive offices)


        Registrant's telephone number, including area code: 973-428-5009


The undersigned registrant hereby amends the following items, financial
information, exhibits or other portions of its Annual Report on Form 10KSB for
the fiscal year ended December 31, 2003, as set forth in the pages attached
hereto:

Independent Auditor's Report

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Amendment to be signed on its behalf by the
undersigned, thereunto duly authorized.

                             MPM Technologies, Inc.
                                  (Registrant)

                           By: /s/ Michael J. Luciano
                               Michael J. Luciano

                         Title: Chief Executive Officer

                             Date: December 2, 2004



<PAGE>

Independent Auditors' Report

To the Board of Directors and Stockholders of
MPM Technologies, Inc. and Subsidiaries

We have audited the accompanying consolidated balance sheet of MPM Technologies,
Inc. and Subsidiaries as of December 31, 2003 and the related consolidated
statements of operations, stockholders' equity and cash flows for the years
ended, December 31, 2003 and 2002. These financial statements are the
responsibility of the Company's management. Our responsibility is to express an
opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the consolidated financial position of MPM Technologies,
Inc. and Subsidiaries as of December 31, 2003, and the consolidated results of
their operations and cash flows for the years ended December 31, 2003 and 2002
in conformity with accounting principles generally accepted in the United States
of America.

The accompanying consolidated financial statements have been prepared assuming
the Company will continue as a going concern. As discussed in the notes to the
Consolidated Financial Statements, the Company has not been able to generate any
significant revenues and has a working capital deficiency of $7,263,584 at
December 31, 2003. These conditions raise substantial doubt about the Company's
ability to continue as a going concern without the raising of additional debt
and/or equity financing to fund operations. Management's plans in regard to
these matters are described in the notes to the Consolidated Financial
Statements. The consolidated financial statements do not include any adjustments
that might result from the outcome of this uncertainty.

/s/ Rosenberg Rich Baker Berman & Company

Bridgewater, New Jersey

April 8, 2004