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 September 30, 2001


[    ] TRANSITION  REPORT UNDER  SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the
     transition period from -------------- to --------------


Commission file number ------------------

                             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 l2, 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 November 15, 2001, the
Company  there are  7,686,065  shares of common  stock  issued and  outstanding.
Transitional Small Business Disclosure Format (Check one): Yes [ ] No [X]




<PAGE>

                             ICT TECHNOLOGIES, INC.
               SEPTEMBER 30, 2001 QUARTERLY REPORT ON FORM 10-QSB
                                TABLE OF CONTENTS

                                                                     Page Number

Special Note Regarding Forward Looking Information.....................   2

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements...........................................   3
Item 2. Management's Discussion and Analysis of Financial Condition
        and Results of Operations......................................   9
Item 3. Quantitative and Qualitative Disclosures About Market Risk.....  11

PART II - OTHER INFORMATION

Item 1. Legal Proceedings..............................................  11
Item 2. Changes in Securities and Use of Proceeds......................  11
Item 3. Defaults Upon Senior Securities................................  11
Item 4. Submission of Matters to a Vote of Security Holders............  11
Item 5. Other Information..............................................  11
Item 6. Exhibits and Reports on Form 8-K...............................  11


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  September  30,  2001  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.


                                        3
<PAGE>
                         PART I -- FINANCIAL INFORMATION

                                     PART I
                              FINANCIAL INFORMATION

Item 1. Financial Statements

     The condensed financial statements for the periods ended September 30, 2001
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 September 30, 2001, and the results
of operations and cash flows for the nine month periods ended September 30, 2001
and 2000.  The  Company's  results of  operations  during the nine 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 10-KSB for the fiscal years ended
December 31, 2000.

STATEMENTS
REPORT OF INDEPENDENT ACCOUNTANTS..............................................5
Balance Sheet as of September 30, 2001 and December 31, 2000.................. 6
Statement of Operations for the nine months ended September 30, 2001 and 2000..7
Statement of Cash Flows for the nine months ended September 30, 2001 and 2000. 8
Statement of Stockholders' Equity for the nine months ended September 30, 2001.9
Notes to Consolidated Financial Statements................................... 10

                                        4
<PAGE>


                        REPORT OF INDEPENDENT ACCOUNTANTS


To the Shareholders and Directors of
  ICT Technologies,  Inc. (Formerly Pandacus, Inc.)

     I have  reviewed the  accompanying  balance  sheet of Pandacus,  Inc. as of
September 30, 2001,  and the related  statements of operations and of cash flows
for the nine month periods ended  September 30, 2000 and 2001.  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, 2000, and the related statements
of operations, of changes in shareholders' equity and of cash flows for the year
then ended (not presented  herein),  and in my report dated April 10, 2001, that
was prepared  assuming  that ICT  Technologies,  Inc.  will  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  Pandacus,  Inc.  April 10,  2001 to continue as a going
concern.  In my  opinion,  the  accompanying  balance  sheet  information  as of
December 31, 2000, 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
November 3, 2001

<PAGE>
<TABLE>
<CAPTION>
                                              ICT TECHNOLOGIES, INC.
                                           (Formerly PANDACUS, INC. )
                                               BALANCE SHEET
                                                                                     September 30,
                                                                     December 31,      2001
                                                                         2000        Unaudited
<S>                                                                      <C>             <C>

                                     Assets
Current assets
  Cash                                                                 $58,547          $ 37
  Inventory                                                            101,500        90,090
                                                                       -------        ------
  Total current assets                                                 160,047        90,127


Total assets                                                          $160,047       $90,127
                                                                       =======        ======


                            Liabilities and Stockholders' Equity

Current liabilities
  Accounts payable and accrued expenses                                              $48,750
  Officer loan payable                                               $190,179        123,003
                                                                      -------        -------
  Total current liabilities                                           190,179        171,753


Stockholders' equity
  Common Stock authorized 10,000,000
 shares, $0.001  par value each. At                                     7,686         7,686
December 31, 2000 and September 30, 2001,
there are 7,686,025 and 7,686,025
shares outstanding respectively.

Additional paid in capital                                          1,168,110     1,168,110
Deficit accumulated during the development stage                   (1,205,928)   (1,257,422)
                                                                   ----------     ---------
Total stockholders' equity                                            (30,132)      (81,626)
                                                                   ----------     ---------
Total liabilities and stockholders' equity                           $160,047       $90,127
                                                                   ==========     =========

</TABLE>
                 See accompanying notes to financial statements





<PAGE>
<TABLE>
<CAPTION>



                                       ICT TECHNOLOGIES, INC.
                                    (Formerly PANDACUS, INC.)
                                         STATEMENT OF OPERATIONS
                                                Unaudited
                                                                         For the nine      For the nine
                                                                          months ended     months ended
                                                                         September 30,     September 30,
                                                                               2000            2001
<S>                                                                       <C>               <C>

Revenue                                                                      $-0-           $15,215

Costs of goods sold                                                           -0-            11,410
                                                                             -----           ------
Gross profit                                                                  -0-             3,805

Operations:
  General and administrative                                               16,842            55,299
  Depreciation and  amortization                                             -0-               -0-
                                                                            -----            ------
  Total expense                                                            16,842            55,299

 Net loss from operations                                                 (16,842)          (51,494)



Net income (loss)                                                        $(16,842)         $(51,494)
                                                                           ======           =======

Net income (loss)  per share -basic                                        $(0.00)           $(0.01)
                                                                           ======           =======
Number of shares outstanding-basic                                      7,686,025         7,686,025
                                                                        =========         =========


                 See accompanying notes to financial statements.




</TABLE>
<PAGE>

<TABLE>
<CAPTION>

                                ICT TECHNOLOGIES, INC.
                            (Formerly PANDACUS, INC.)
                             STATEMENT OF OPERATIONS
                                    Unaudited
                                                                          For the three    For the three
                                                                          months ended     months ended
                                                                         September 30,    September 30,
                                                                               2000            2001
<S>                                                                       <C>              <C>

Revenue                                                                      $-0-              $-0-

Costs of goods sold                                                           -0-               -0-
                                                                         ----------            ------
Gross profit                                                                  -0-               -0-

Operations:
  General and administrative                                                12,342                67
  Depreciation and  amortization                                              -0-               -0-
                                                                            ------            ------
  Total expense                                                             12,342                67

Loss  from operations                                                      (12,342)          (    67)



Net income (loss)                                                         $(12,342)         $(    67)
                                                                           =======           =======

Net income (loss)  per share -basic                                         $(0.00)           $(0.00)
                                                                           =======            ======
Number of shares outstanding-basic                                       7,686,025         7,686,025
                                                                           ======        ===========
                 See accompanying notes to financial statements.


</TABLE>
<PAGE>



<TABLE>
<CAPTION>

                                         ICT TECHNOLOGIES, INC.
                                      (Formerly   PANDACUS, INC.)
                                         STATEMENT OF CASH FLOWS
                                                Unaudited


                                                                               For the         For the
                                                                              nine months    nine months
                                                                                ended           ended
                                                                             September 30, September 30,
                                                                                 2000            2001
<S>                                                                           <C>           <C>


CASH FLOWS FROM OPERATING ACTIVITIES
  Net income (loss)                                                            $(16,842)      $(51,494)
Adjustments to reconcile net loss to
 cash used in operating activities

  Shares issued for accrued salaries
  Depreciation
  Inventory                                                                                     11,410
  Accounts payable and accrued expenses                                           6,750         48,750
                                                                                 ------         ------
TOTAL CASH FLOWS FROM OPERATIONS                                                (10,092)         8,666

CASH FLOWS FROM FINANCING ACTIVITIES
  Officer loan payable                                                           (4,104)       (67,176)
                                                                                 ------         ------
TOTAL CASH FLOWS FROM FINANCING ACTIVITIES                                       (4,104)       (67,176)

TOTAL CASH FLOWS FROM INVESTING ACTIVITIES

NET INCREASE (DECREASE) IN CASH                                                  (5,988)       (58,510)
CASH BALANCE BEGINNING OF PERIOD                                                  5,988         58,547
                                                                                 ------        --------
CASH BALANCE END OF PERIOD                                                       $ -0-            $ 37
                                                                                 ======        ========
Supplemental disclosure of cash flow information
  Cash paid for interest                                                          $-0-           $-0-
  Cash paid for State income taxes                                                 $-0-         $2,555

</TABLE>

                 See accompanying notes to financial statements





<PAGE>
<TABLE>
<CAPTION>
                                             ICT TECHNOLOGIES, INC.
                                            (Formerly PANDACUS, INC. )
                                          STATEMENT OF STOCKHOLDERS EQUITY

                                                                                  Deficit
                                 Common Stock Common Stock Additional      accumulated during
Date                                                      Paid in capital  development stage     Total
<S>                               <C>         <C>         <C>              <C>                   <C>

Balances December 31, 1998        7,686,025       $7,686     $1,168,110         (1,042,175)   133,621

Net loss                                                                          $(49,162)  $(49,162)
                                  ---------        -----     ----------          ---------    -------
Balances December 31, 1999        7,686,025        7,686     $1,168,110         (1,091,333)   $84,463


Net loss                                                                          (114,595)   (16,842)
                                  ---------        -----     ----------          ---------    -------
Balances December 31, 2000        7,686,025       7,686       1,168,110        $(1,205,928)  $(30,132)

Unaudited
Net loss                                                                           (51,494)   (51,494)
                                 ---------        -----      ----------          ---------    -------
Balances                          7,686,025       7,686       1,168,110         (1,257,422)   (81,626)
September 30, 2001



                 See accompanying notes to financial statements




</TABLE>

<PAGE>

                            ICT TCHNOLOGIES, INC.
                           (Formerly PANDACUS, INC. )
                          NOTES TO FINANCIAL STATEMENTS



     The condensed financial statements for the periods ended September 30, 2001
included herein have been prepared by Pandacus, Inc. (Formerly ICT Technologies,
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 September 30, 2001, and the results
of operations and cash flows for the nine month periods ended September 30, 2000
and 2001.

     The Company's results of operations during the nine 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 10-KSB for the fiscal years ended December 31, 2000.



                           ICT TECHNOLOGIES, INC.
                            (Formerly PANDACUS, INC.)
                          NOTES TO FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001


     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 the
nine months ended September 30, 2000 and 2001 are not necessarily  indicative of
the results that may be expected for the fiscal year ending December 31, 2001.

        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 nine month  periods  through  September  30,  2001,  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  consequences  of those
differences,  which will  either be taxable  or  deductible  when the assets and
liabilities are recovered or settled.  As of September 30, 2001, 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 September 30, 2001,  the Company has net operating  loss carry  forwards
for income tax purposes of $1,257,422.  These carry forward losses are available
to offset future taxable income, if any, and expire in the year 2010.
<PAGE>

     The  components  of the net deferred tax asset as of September 30, 2001 are
as follows:

  Deferred tax asset:
  Net operating loss carry forward                               $ 427,523
  Valuation allowance                                            $(427,523)
                                                                  --------
  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  September  30,  2001.  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 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 $1,257,422 and has negative capitalization of $81,626 for
the period from  inception,  February 8, 1994,  to  September  30,  2001.  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:

     Change its name back to ICT Technologies, Inc. From Pandacus, Inc.

     The Company had entered in  agreements  to aquire the right to use the name
Pandacus,  Inc.; acquire two portals existing on the World Wide Web Pandacus.com
and  Pandacus.ca.   and  to  acquire  certain  philatelic  assets.  The  Company
subsequently  abandoned these agreements as a result of the contracting  parties
inability to complete  performance  as required under the agreements and changed
its name back to ICT Technologies, Inc.
<PAGE>

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 NINE MONTHS ENDING SEPTEMBER 30, 2000 and 2001

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

     This  prospectus  contains  forward  looking  statements  relating  to  our
Company's  future economic  performance,  plans and objectives of management for
future operations, projections of revenue mix and other financial items that are
based  on the  beliefs  of,  as well  as  assumptions  made  by and  information
currently  known to, our  management.  The words  "expects,  intends,  believes,
anticipates,  may, could, should" and similar expressions and variations thereof
are intended to identify forward-looking  statements.  The cautionary statements
set forth in this  section are  intended to  emphasize  that actual  results may
differ materially from those contained in any forward looking statement.

Business activities.


     The  Company  was  dormant  until  December  31,  1996 except for an equity
investment in the Frank Lettau Galleries,  located in New York City. The Company
is in the process of expanding  its business  activities in the  purchasing  and
selling of art and antiques for its own account having learned the business as a
result of its business relationship with Frank Lettau Galleries.  As of December
31, 2000, the Company has severed its relationship  with the Gallery and settled
accounts  with  receipt of an  inventory in artistic  works  available  for sale
aggregating  $101,500.  During the first quarter ended  September 30, 2001,  the
Company has sold 3 pieces of art representing an aggregate of $15,215.

     During this  period,  management  has  continued  to finance is  activities
through the resources of management  and has devoted the majority of its efforts
to initiating the Company's market plans to enter the business of purchasing art
and  antiques,   obtaining  new  customers  for  sale  of  consulting  services,
developing sources of supply,  developing and testing its marketing strategy and
finding a  management  team to begin the process of:  completing  its  marketing
goals; furthering its marketing research and development for its products. These
activities  were  funded  by  the  Company's  management  and  investments  from
stockholders.  The Company has not yet generated  sufficient revenues during its
limited  operating  period  of  reorganization  to fund  its  ongoing  operating
expenses, or fund its marketing plans and product development activities.  There
can be no assurance that  development  of the marketing  plans will be completed
and fully  tested in a timely  manner  and  within  the  budget  constraints  of
management and that the Company's  marketing  research will provide a profitable
path to utilize the Company's  marketing plans.  Further investments into market
design and implementation and development,  marketing research as defined in the
Company's  operating  plan will  significantly  reduce the cost of  development,
preparation,  and  processing of purchases and orders by enabling the Company to
effectively compete in this market place.
<PAGE>

     Subsequent  to the  date of the  financial  statements  did the  following:
Changed  its  name  to  Pandacus,   Inc.  And  changed  its  name  back  to  ICT
Technologies,  Inc. The Company had entered in  agreements to aquire two portals
on existing on the World Wide Web Pandacus.com  and Pandacus.ca.  and to acquire
certain philatelic assets. The Company  subsequently  abandoned these agreements
as a result the contracting parties inability to complete performance as reuired
under the agreements.



     During this  reorganization  period,  the Company has been financed through
officer's  loans  from  Joshua  Shainberg  and with the  return  of its  partial
investment in the Frank Lettau Galleries.

     Results of  Operations  for the nine months ended  September  30, 2001,  as
compared to the nine months ended September 30, 2000.

     For the nine months ended  September  30, 2001,  the Company  generated net
sales of $15,215 as  compared to $-0- for the nine months  ended  September  30,
2000. The Company's  cost of goods sold for the nine months ended  September 30,
2001 was $11,410 as compared to $-0- for the nine  months  ended  September  30,
2000.  The Company's  gross profit on sales was $3,805 for the nine months ended
September  30, 2001 as compared to $-0- for the nine months ended  September 30,
2000.

     The Company's  general and  administrative  costs aggregated  approximately
$55,299 for the nine months ended  September 30, 2001 as compared to $16,842 for
the nine months ended September 30, 2001 representing a increase of $38,457. The
aggregate of $55,232  consists of the following:  professional  fees of $43,002;
officer's  salary of $1,600;  stock transfer and corporate  fees of $6,850;  and
office expenses of $3,847.

Liquidity and Capital Resources.

     The Company  decreased  cash from  $58,547 at  December  31, 2000 to a cash
balance of $37 at September 30, 2001.  Working capital at September 30, 2001 was
negative at $81,559.  For the nine months  ended  September  30,  2001,  working
capital was provided by management for the payment of expenses. At September 30,
2001,  the  Company  continued  to  be  funded  through  officer  loan  balances
aggregating  $123,003.  Management  believes  that it  will be able to fund  the
Company through the continuation of the Company's  reorganization  process until
the Company's  Marketing strategy of entering the art and antique business is in
place.

     Known trends,  events or uncertainties  that could be reasonably  likely to
have a material  adverse effect on the businesses of the Company and may thereby
materially  impact the Company's  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 the Company to operate at and improved  gross
profit levels;  Federal  Securities  regulations that may effect the ability the
ability for the  Company to  complete  its  marketing  strategy  and a favorable
environment in which the Company will conduct its consulting activities.
<PAGE>

     Thereafter,  if cash generated from  operations is  insufficient to satisfy
the Company's working capital and capital expenditure requirements,  the Company
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.

Year 2000 Issues

     The Company has  completed  its  assessment  of Year 2000  compliance  with
respect to its  products  that are  currently  being sold to  customers  and has
concluded that all  significant  products are  compliant.  With respect to third
parties, the Company was not effected by the Year 2000 issue.

     The Company  believes that its most  significant  risk with respect to Year
2000 issues relates to the performance and readiness status of third parties. As
with all  manufacturing  and wholesale  companies,  a reasonable worst case Year
2000  scenario  would be the  result of  failures  of third  parties  (including
without limitation, governmental entities, utilities and entities with which the
Company  has  no  direct  involvement)  that  negatively  impact  the  Company's
inventory  supply  chain or ability  to provide  products  to  customers  or the
ability  of  customers  to  purchase  products,  or events  affecting  regional,
national or global economies  generally.  The impact of these failures cannot be
estimated at this time; however, the Company is considering contingency plans to
limit,  to the extent  possible,  the financial  impact of these failures on the
Company's results of operations.  Any such plans would necessarily be limited to
matters over which the Company can reasonably control.


     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

     All  shares  sold by the  Issuer  during  the last  three  years  have been
registered under the Securities Act of 1933.

     ITEM 3. DEFAULTS IN SENIOR SECURITIES

     None.

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

     None.

     ITEM 5. OTHER INFORMATION

     On November 3, 2001,  the  registrant  announced  the approval for its name
change  and of its  symbol  change  back to ICTT from  PNDS.  In  addition,  the
announcement  stated  that it this new name  reflected  the  company's  expanded
business  strategy  including  but not  limited to the  establishment  of an art
gallery  online  web center  focusing  on sales of fine art and  philately.  The
company  entered  into a verbal  commitment  to  acquire  the  Pandacus.com  and
Pandacus.ca URL portals for both European & American users. The portals were not
received and the transaction was not completed. As a result, the company intends
to change its name from  Pandacus.  The company also  announced that it acquired
Philatelic  assets  having a  catalogue  value of $8  million.  The  company has
possession  of the  stamps.  However,  written  terms and other  details  of the
transaction have not been completed.

     ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

     (a) Exhibits.

     27 Financial Data Schedule

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


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                                   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: November 15, 2001
By: /s/ Joshua Shainberg
Joshua Shainberg, President and Director

Date: November 15, 2001
By: /s/ Bindiya Moorjani
Bindiya Moorjani Ph.D., Secretary, Treasurer and Director

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