UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-QSB

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

                  For the quarterly period ended March 31, 2002

       [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

         For the transition period from -------------- to -------------

                        Commission file number 000-29805

                             ICT Technologies, Inc.

        (Exact name of small business issuer as specified in its charter)

                Delaware                                13-4070586
--------------------------------------------------------------------------------
         (State or other jurisdiction         (IRS Employer Identification No.)
      of incorporation or organization)


                                Joshua Shainberg
           122 East 42nd Street, 17th Floor, New York, New York 10168
                                 (212) 551-1085
              (Address and telephone number of principal executive
             offices, principal place of business, and name, address
              and telephone number of agent for service of process)


     Check whether the registrant filed all documents and reports required to be
     filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution
     of securities under a plan confirmed by a court. NA

     State the number of shares  outstanding of each of the issuer's  classes of
     common equity,  as of the latest  practicable  date: As of May 20, 2002 the
     Company   there  were   17,686,025   shares  of  common  stock  issued  and
     outstanding. Transitional Small Business Disclosure Format (Check one): Yes
     [ ] No [X]



<PAGE>

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS


To the extent that the  information  presented in this Quarterly  Report on Form
10-QSB for the quarter  ended March 31, 2002  discusses  financial  projections,
information or  expectations  about our products or markets,  or otherwise makes
statements  about future events,  such statements are forward-  looking.  We are
making  these  forward-looking   statements  in  reliance  on  the  safe  harbor
provisions of the Private Securities  Litigation Reform Act of 1995. Although we
believe that the expectations reflected in these forward-looking  statements are
based on reasonable  assumptions,  there are a number of risks and uncertainties
that could cause actual results to differ  materially from such  forward-looking
statements.  These risks and uncertainties are described,  among other places in
this Quarterly  Report,  in  "Management's  Discussion and Analysis of Financial
Condition and Results of Operations".

In  addition,   we  disclaim  any  obligations  to  update  any  forward-looking
statements to reflect events or  circumstances  after the date of this Quarterly
Report.  When considering such  forward-looking  statements,  you should keep in
mind the risks  referenced  above and the other  cautionary  statements  in this
Quarterly Report.


                         PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

The condensed  financial  statement for the three-month  periods ended March 31,
2001 and 2002  included  herein  have been  prepared by ICT  Technologies,  Inc.
(formerly Pandacus,  Inc.) (the "Company") without audit,  pursuant to the rules
and regulations of the Securities and Exchange Commission (the "Commission"). In
the opinion of management,  the statements include all adjustments  necessary to
present  fairly the  financial  position of the Company as of March 31, 2002 and
the results of operations and cash flows for the three-month periods ended March
31, 2001 and 2002.

The  Company's  results of  operations  during the three months of the Company's
fiscal year are not necessarily indicative of the results to be expected for the
full fiscal year.

The financial  statements  included in this report should be read in conjunction
with the financial  statements and notes thereto in the Company's  Annual Report
on Form I0-KSB for the fiscal years ended December 31, 2001.

                        REPORT OF INDEPENDENT ACCOUNTANTS

To the Shareholders and Directors of
ICT Technologies, Inc:

I have reviewed the accompanying balance sheet of ICT Technologies,  Inc., as of
March 31, 2002,  and the related  statements of operations and of cash flows for
the  three-month  periods  ended  March  31,  2001  and  2002.  These  financial
statements are the responsibility of the Company's management.

I have  conducted my review 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 auditing standards  generally accepted in the United States, the
objective  of which is the  expression  of an opinion  regarding  the  financial
statements taken as a whole. Accordingly, I do not express such an opinion.

Based on my review, I are not aware of any material modifications that should be
made to the accompanying interim financial statements referred to above for them
to be in conformity with generally accepted accounting principles.

I previously audited in accordance with generally  accepted auditing  standards,
the balance  sheet as of  December  31,  2001,  and the  related  statements  of
operations,  of changes in  shareholders'  equity and of cash flows for the year
then  ended  (not  presented  herein),  and my  report  dated  April 9, 2002 was
prepared assuming that ICT Technologies, Inc. would continue as a going concern.
As more fully  described  in Note E, the Company has incurred  operating  losses
since  the  date of  inception  and  requires  additional  capital  to  continue
operations. These conditions raise substantial doubt about the Company's ability
to  continue  as a going  concern.  Management's  plans as to these  matters are
described in Note E. The financial  statements do not include any adjustments to
reflect the possible effects on the  recoverability and classification of assets
or the  amounts  and  classifications  of  liabilities  that may result from the
possible inability of ICT Technologies,  Inc. to continue as a going concern. In
my opinion,  the accompanying balance sheet information as of December 31, 2001,
is fairly stated, in all material respects in relation to the balance sheet from
which it has been derived.

Thomas Monahan, Certified Public Accountant, Paterson, New Jersey
April 18, 2002



<PAGE>


                                                ICT Technologies, Inc.

                                                    Balance Sheet

                                                      Unaudited

<TABLE>
<CAPTION>

<S>                                                                            <C>                  <C>
                                                                         March 31, 2002                December 31,
                                                                           Unaudited                       2001

Assets:

Cash                                                                          $    6,251                $     -0-
Inventory                                                                         90,090                   90,090
                                                                       -----------------        -----------------
Total current assets                                                              96,341                   90,090

Total assets                                                                  $   96,341               $   90,090


Liabilities and Stockholders' Equity:

Current liabilities:
         Accounts payable and accrued E&P sales                                   49,178                   49,178
         Officer loan payable                                                    131,226                  122,670
                                                                       -----------------        -----------------
                                                                                 180,404                  171,848

Stockholders' Equity:
  Preferred Stock - 10,000,000 shares  authorized,  $0.001 par value each
  share.  At March 31, 2002 and December  31, 2002,  the number of shares
  outstanding was -0- and -0-, respectively.

  Common Stock - 200,000,000 shares authorized, $0.001                             7,686                    7,686
  par value each share.  At March 31, 2002 and December
  31, 2001 there are 7,686,025 and 7,686,025 shares
  outstanding, respectively.

Additional paid in capital                                                     1,168,110                1,168,110
Deficit retain earnings                                                      (1,259,859)              (1,257,554)
                                                                       -----------------        -----------------
Total stockholders' equity                                                      (84,063)                 (81,758)
                                                                       -----------------        -----------------
Total liabilities and stockholders equity                                     $   96,341               $   90,090
                                                                          ==============           ==============

                               See Accountant's Review Notes to Financial Statements.

</TABLE>


<PAGE>


                             ICT Technologies, Inc.

   Statement of Operations for the three months ended March 31, 2001 and 2002

                                    Unaudited
<TABLE>
<CAPTION>


<S>                                                      <C>                         <C>
                                                   March 31,                   March 31,
                                                      2002                       2001
                                                ----------------          --------------

Revenue                                                $     -0-              $   15,215

Costs of Goods Sold                                          -0-                  11,410
                                               -----------------        ----------------
Gross profit                                                 -0-                   3,805

Operations:
         General and administrative                        2,305                  35,844
         Depreciation and amortization                       -0-                     -0-
                                               -----------------        ----------------
         Total expenses:                                   2,305                  35,844

Net loss from operations                             $   (2,305)             $  (32,040)
                                                      ==========              ==========

Net loss per share-basic                              $   (0.00)              $   (0.00)
                                                      ==========              ==========

Weighted average number of shares outstanding          7,686,025               7,686,025
                                                      ==========              ==========

             See Accountant's Review Notes to Financial Statements.

</TABLE>


<PAGE>


                                               ICT Technologies, Inc.

                                   Statement of Cash Flows for the three months
                                            ended March 31, 2001 and 2002

                                                      Unaudited

<TABLE>
<CAPTION>

<S>                                                                                      <C>                    <C>
                                                                                   March 31,               March 31,
                                                                                      2002                   2001
                                                                                -------------           ------------

Cash flows from operating activities:
         Net loss                                                                  $  (2,305)            $  (32,040)

Adjustments to reconcile net loss to cash used in operating activities:
         Inventory                                                                                            11,410
         Accounts payable and accrued expenses                                                                18,500
                                                                             ----------------        ---------------
Total cash flows from operations                                                      (2,305)                (2,130)

Cash flows from financing activities:
         Officer loan payable                                                           8,556               (55,303)
                                                                             ----------------        ---------------
Total cash flow from financing activities                                               8,556               (55,303)

Total cash flows from investing activities                                                -0-                    -0-

Net increase (decrease) in cash                                                         6,251               (57,433)

Cash balance beginning of period                                                          -0-                 58,547
                                                                             ----------------        ---------------

Cash balance end of period                                                         $    6,251              $   1,114
                                                                             ================        ===============

Supplemental disclosure of cash flow information:
         Cash paid for interest                                                     $     -0-              $     -0-
         Cash paid for taxes                                                        $     -0-              $     -0-

                                 See Accountant's Review Notes to Financial Statements.

</TABLE>

<PAGE>


                                                Statement of Stockholders Equity

                                                         March 31, 2002

                                                           Unaudited

<TABLE>
<CAPTION>

<S>                                 <C>             <C>              <C>            <C>                   <C>
                                    Common          Common          Additions       Deficit Retained
                                     Stock           Stock       Paid in Capital        Earnings           Total

Balances                            7,686,025        $ 7,686      $ 1,168,110        $(1,257,554)       $ (81,758)
   December 31, 2001

Net loss                                                                                  (2,305)          (2,305)
                                -------------   -----------    -------------       --------------   --------------
Balances
   March 31, 2002                   7,686,025           7686      $ 1,168,110        $(1,259,859)       $ (84,063)
                                   ==========     ==========       ==========          ==========        =========

                         See Accountant's Review Notes to Financial Statements.
</TABLE>



                             ICT TECHNOLOGIES, INC.
                          NOTES TO FINANCIAL STATEMENTS
                            MARCH 31, 2002 UNAUDITED

NOTE A--BASIS OF PRESENTATION

The accompanying unaudited financial statements have been prepared in accordance
with  generally   accepted   principles  for  interim   financial   information.
Accordingly,  they do not include all of the information and footnotes  required
by generally accepted accounting  principles for complete financial  statements.
In the opinion of management,  all necessary  adjustments  (consisting of normal
recurring  accruals)  considered  necessary  for a fair  presentation  have been
included. Operating results of ICT Technologies,  Inc. (the "Company") for three
months ended March 31, 2002 are not  necessarily  indicative of the results that
may be expected for the fiscal year ending December 31, 2002

NOTE B--EARNINGS PER SHARE

Basic loss per common  share is computed by  dividing  the loss by the  weighted
average  number of common  shares  outstanding  during  the  period.  During the
three-month  periods  ended  March 31,  2001 and 2002,  there  were no  dilutive
securities outstanding.

NOTE C--INCOME TAXES

The  Company  provides  for the tax  effects  of  transactions  reported  in the
financial statements. The provision if any, consists of taxes currently due plus
deferred taxes related primarily to differences  between the basis of assets and
liabilities for financial and income tax reporting.  The deferred tax assets and
liabilities,  if any,  represent  the  future tax  return  consequence  of those
differences,  which will  either be taxable  or  deductible  when the assets and
liabilities  are recovered or settled.  As of March 31, 2002, the Company had no
material current tax liability, deferred tax assets, or liabilities to impact on
the Company's  financial  position because the deferred tax asset related to the
Company's net  operating  loss carry forward and was fully offset by a valuation
allowance.

At March 31, 2002,  the Company had net operating loss carry forwards for income
tax purposes of  $1,259,859.  These carry forward losses are available to offset
future  taxable  income,  if any, and expire in the year 2010. The components of
the net deferred tax asset as of March 31, 2002 are as follows:

   Deferred tax asset:
   Net operating loss carry forward                     $   428,352
   Valuation allowance                                  $ (428,352)
                                                        -----------
   Net deferred tax asset                               $       -0-



The Company  recognized  no income tax benefit from the loss  generated  for the
period from the date of inception to March 31, 2002.  SFAS No. 109 requires that
a  valuation  allowance  be  provided  if it is more  likely  than not that some
portion  or all of a  deferred  tax asset will not be  realized.  The  Company's
ability  to  realize  benefit  of its  deferred  tax  asset  will  depend on the
generation of future  taxable  income.  Because the Company has yet to recognize
significant  revenue from the sale of its products,  the Company believes that a
full valuation allowance should be provided.

NOTE D - COMMITMENTS AND CONTINGENCIES

a. Lease agreements

The company  occupies  office  space at the office of the  President at 122 East
42nd Street, 17th Floor, New York, New York 10168 at a monthly rental of $250.

NOTE E - GOING CONCERN

The accompanying  unaudited  financial  statements have been prepared on a going
concern basis, which contemplates the realization of assets and the satisfaction
of liabilities in the normal course of business. The Company incurred net losses
of  $1,259,859  and has  negative  capitalization  of $4,063 for the period from
inception,  February 8, 1994, to March 31, 2002. These factors indicate that the
Company's  continuation as a going concern is dependent upon its ability to have
positive cash flows from operations.  The Company's current capital requirements
are being met by management  as they occur until  profitable  operations  can be
reached.  The  Company's  future  capital  requirements  will depend on numerous
factors  including,  but not  limited  to,  continued  progress  in its  selling
capabilities  and implementing  its marketing  strategies.  The Company plans to
engage in such ongoing financing efforts on a continuing basis.

NOTE F - SUBSEQUENT EVENTS

Subsequent  to the  date  of the  financial  statements,  the  Company  did  the
following:

We severed our  relationship  with the scientist and engineer we had  previously
retained to develop a nondestructive testing device for airborne biohazards; and

We issued  10,000,000  shares of our common stock in exchange for certain assets
from the Europhone Group of Companies.

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS
               FOR THE THREE MONTHS ENDED MARCH 31, 2001 AND 2002

The following  discussion  relates to the results of our operations to date, and
our financial condition.

Business activities.

Prior to January 1, 2000,  we had  purchased  an equity  interest  in a New York
City-based  art gallery.  As of December 31, 2000,  we severed our  relationship
with the gallery and settled  accounts  with the receipt of an  inventory of art
available  for  sale  aggregating  $101,500.  In  2001,  we sold 3 works  of art
aggregating $15,215.

During this period,  our  management  has  continued  to finance our  activities
through its  resources and has devoted the majority of its efforts to initiating
plans to purchase and sell art and antiques, including research and development,
locating   sources  of  art,   locating  retail  and  wholesale   customers  and
investigating the sale of digitally reproduced art. These activities were funded
by our management and through the transfer of an inventory of art.

We have not yet  generated  sufficient  revenues to fund our  ongoing  operating
expenses, or fund our marketing plans and product development activities.  There
can be no assurance that  development  of our marketing  plans will be completed
and fully  implemented in a timely manner and within our budget  constraints and
that our marketing research will provide us a profitable path.

Subsequent to March 31, 2002, we issued 10,000,000 shares of our common stock in
exchange for certain assets from the Europhone Group of Companies.

Results of  operations  for the three months ended March 31, 2001 as compared to
the three months ended March 31, 2002.

For the three  months ended March 31,  2002,  we  generated  $-0- in revenues as
compared to $15,215 in revenue for the three months  ended March 31,  2001.  Our
cost of  goods  sold for the  three  months  ended  March  31,  2002 was $-0- as
compared to $11,400 for the three months  ended March 31, 2001,  netting a gross
profit of $3,805 for the three months ended March 31, 2001.

Our general and  administrative  costs  aggregated  $2,305 for the three  months
ended March 31, 2002 as compared to $55,431 for the three months ended March 31,
2001 representing a decrease of $53,126.

The lack of revenue and the reduction in expenses  reflects our efforts to scale
back expenses until we can implement our marketing program.

Liquidity and capital resources.

Our cash  balance  increased  to $6,257 at March 31, 2002 from a cash balance of
$-0- at December  31,  2001  representing  an increase of $6,257.  For the three
months ended March 31, 2002 working capital was provided by management. At March
31, 2002 we continued to be funded through officer loans  aggregating  $131,226.
Management believes that it will be able to fund us until our marketing strategy
is in place.

Known trends,  events or uncertainties that could be reasonably likely to have a
material adverse effect on our businesses and may thereby  materially impact our
short-term  or  long-term  liquidity  and/or net sales,  revenues or income from
continuing  operations  are  expected to be seasonal  and the  continuation  and
availability  of inventory  from present and future  vendors at prices that will
permit us to operate at improved gross profit levels.

If cash generated from operations is insufficient to satisfy our working capital
and capital  expenditure  requirements,  we may be  required to sell  additional
equity or debt securities or obtain additional credit  facilities.  There can be
no assurance that such financing, if required, will be available on satisfactory
terms, if at all.

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not Applicable.

                           PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

None.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

None.

ITEM 3.  DEFAULTS IN SENIOR SECURITIES

None.

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

None.

ITEM 5.  OTHER INFORMATION

Subsequent to the date of the financial statements,  we severed our relationship
with the  scientist  and  engineer  we had  previously  retained  to  develop  a
nondestructive testing device for airborne biohazards.

On May 9, 2002 we issued  10,000,000  shares of our common stock in exchange for
certain assets from the Europhone Group of Companies.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)  Exhibits:  None.

(b)  Reports on Form 8-K:  None.

                                   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.

ICT TECHNOLOGIES, INC.

Dated: May 28, 2002

By: /s/ Joshua Shainberg
    --------------------
   Joshua Shainberg, President
   (principal executive, financial and accounting officer)

                                  End of Filing