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, 2003

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

         For the transition period from January 1, 2003 to March 31, 2003

                        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)

                             ICT Technologies, Inc.
                   33 W Main Street, Elmsford, New York 10523
                                 (914) 592-1700

              (Address and telephone number of principal executive
             offices, principal place of business, and name, address
                              and telephone number)

  Indicate by check mark whether 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) has been subject to such filing
                requirements for the past 90 days. Yes [X] No [ ]

  Indicate the number of shares outstanding of each of the issuer's classes of
                common stock, as of the latest practicable date.

Common Stock, par value $0.001, 86,048,992 shares outstanding as of May 19, 2003

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





<PAGE>
                               ICT TECHNOLOGIES, INC.
                                 TABLE OF CONTENTS

Special Note Regarding Forward Looking Information.............................3

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements (Unaudited).......................................5
        Notes to Financial Statements..........................................8
Item 2. Management's Discussion and Analysis of Financial Condition and
        Results of Operations.................................................10
Item 3. Controls and Procedures...............................................14

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.................................................... 15
Item 2. Changes in Securities and Use of Proceeds............................ 15
Item 3. Defaults Upon Senior Securities...................................... 15
Item 4. Submission of Matters to a Vote of Security Holders.................. 15
Item 5. Other Information.................................................... 15
Item 6. Exhibits and Reports on Form 8-K..................................... 15

SIGNATURES.................................................................16-18
<PAGE>


QUARTERLY REPORT ON FORM 10QSB FOR ICT TECHNOLOGIES, INC.


               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, 2003 discusses financial projections,
information or expectations about the products or markets of our Company, 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 our Annual Report on Form 10-KSB for the year
ended December 31, 2002 under "Management's Discussion and Analysis".
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof.

In  addition,  we  do  not  undertake  hereby  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, readers
should  keep in mind  the  risks  referenced  above  and  the  other  cautionary
statements in this Quarterly Report.

Descriptions of our suppliers and their operations contained herein are taken in
part from corporate web sites and other sources that are believed to be accurate
but as to which we cannot guarantee accuracy.



<PAGE>

                          PART I FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

The  condensed  consolidated  financial  statements  included  herein  have been
prepared by the Company, without audit, pursuant to the rules and regulations of
the  Securities  and  Exchange  Commission.  Certain  information  and  footnote
disclosures  normally  included in financial  statements  prepared in accordance
with generally  accepted  accounting  principles  have been condensed or omitted
pursuant to such rules and  regulations,  although the Company believes that the
disclosures are adequate to make the information presented non-misleading.

In the  opinion of the  Company,  all  adjustments,  consisting  of only  normal
recurring adjustments, necessary to present fairly the financial position of the
Company as of March 31, 2003,  and the results of its  operations and changes in
its financial  position from January 1, 2003,  through March 31, 2003, have been
made. The results of its operations for such interim period are not  necessarily
indicative  of the results to be expected for the entire year.  These  condensed
financial statements should be read in conjunction with the financial statements
and notes thereto  included in the  Company's  annual report on Form 10- KSB for
the year ended December 31, 2002.

                          INDEX TO FINANCIAL STATEMENTS


Balance Sheet as of March 31, 2003 (Unaudited) and December 31, 2002         F-2


Statement of Operations for the three months ended March 31, 2003
(Unaudited) and 2002                                                         F-3


Statement of Stockholders' Equity for the three months
ended March 31, 2003                                                         F-4


Statement of Cash Flows for the three months ended March 31, 2003
(Unaudited) and 2002                                                         F-5


Notes to Financial Statements                                          F-6 - F-8





<PAGE>






                             ICT TECHNOLOGIES, INC.
                           CONSOLIDATED BALANCE SHEET

                                                 March31,         December 31,
                                                  2003                 2002
                                                Unaudited


Current assets

  Cash and cash equivalents                     $    1,500           $267,735
   Accounts receivable                             853,500            120,745
   Inventory                                       288,975            336,590
   Prepaid expenses                                  3,002              2,797
                                                 ---------          ---------
Current assets                                  $1,146,977           $727,867

Property and equipment-net                          45,883             49,761

Other assets
   Security deposit                                  5,000              5,000
   Goodwill                                        287,549            287,549
                                                 ---------          ---------
Total other assets                                 292,549            292,549

Total assets                                     1,485,409          1,070,177
                                                 =========          =========

       Liabilities and Stockholders Equity

Current liabilities
   Accounts payable and accrued expenses          $274,735           $121,475
   Officer loans payable                         1,111,629          1,216,417
                                                 ---------          ---------


Total current liabilities                        1,386,364          1,337,892
                                                 ---------          ---------
Stockholders equity
Preferred stock authorized 10,000,000
 shares $0.001 par value each
 At March 31, 2003 and December 31, 2002 there
 are -0- shares outstanding respectively
Common stock authorized
 200,000,000 shares $.001 par value each,
At March 31, 2003 and December 31, 2002,
 there are 92,043,492 shares outstanding
 respectively                                       92,043             92,043
Common stock subscribed                            226,100            112,100
Additional paid in capital                       1,917,944          1,917,944
Retained earnings                               (2,137,042)        (2,389,802)
                                                 ---------          ---------
Total stockholders equity                           99,045           (267,715)
                                                 ---------          ---------
Total liabilities and stockholders equity       $1,485,409         $1,070,177
                                                 =========          =========

See notes to accompanying financial statements

                                      F-2

                             ICT TECHOLOGIES, INC.
                      CONSOLIDATED STATEMENT OF OPERATIONS
                           FOR THE THREE MONTHS ENDED

                                           March 31,          March 31,
                                             2003               2002
                                           Unaudited
Revenue
  Durable goods
   Long Distance telephone                 $  17,000
   Prepaid telephone cards
    and internet CD's                        747,931            409,375
                                            --------           --------
Total revenues                               764,931            409,375


Cost of goods sold
   Prepaid telephone cards
    and internet CD's                         148,500            281,445
                                             --------           --------
Total cost of goods sold                      148,500            281,445

Gross profit                                  616,431            127,930


Operating expenses
  Selling, general and administrative          359,795            317,952
  Depreciation                                   3,878              3,500
                                              --------            --------
Total operating expenses                       363,673            321,452

Income (loss) from operations                  252,758           (193,522)
Other income
  Interest income                                    2                  7
                                               --------           --------
Total other income                                   2                  7

Net income (loss)                             $252,760          $(193,515)

                                              =========          =========
Net income (loss) per share-basic                 $0.00            $(0.00)
Number of shares outstanding-basic           92,043,492         92,043,492
                                              =========         =========

See accompanying notes to financial statements

                                      F-3


                             ICT TECHNOLOGIES, INC.
                        STATEMENT OF STOCKHOLDERS EQUITY

                                    Common      Additional
                  Common    Common  Stock       paid        Retained
Date              Stock     Stock   Subscribed  Capital     Earnings      Total

Balances
January 1, 2002  7,686,025   $7,686           $1,168,110  $(1,257,554) $(81,758)

Issuance of shares
for acquisition of
Europhone, Inc. 78,000,000   78,000                                      78,000

Capital contribution                              65,000                 65,000

Issuance of shares
as consulting fees 6,093,300   6,093             148,014                154,107

Sale of shares through
private placement    264,167     264             536,820                537,084

Common stock
subscribed                             112,100                          112,000

Net loss                                                  (1,132,248)(1,132,248)
                   --------   ------   -------  --------   ---------  ----------

Balances
December 31, 2002 92,043,492  92,043  $112,100 $1,917,944 $(2,389,802)$(267,715)

Unaudited
March 31, 2003
Common stock subscribed                114,000                          114,000

Net Profit                                                   252,760    252,760
                  --------  --------  --------   --------   --------  ----------
Balances
March 31, 2003  92,043,492   $92,043  $226,100  $1,917,944 $(2,137,042) $99,045

                                      F-4

                             ICT TECHNOLOGIES, INC.
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                           FOR THE THREE MONTHS ENDED

                                                       March 31,     March 31,
                                                         2003           2002
                                                       Unaudited

OPERATING ACTIVITIES
    Net (loss)                                         $252,760     $(193,515)
    Adjustments for noncash and
      non-operating items:
      Depreciation                                        3,878         3,500
      Non-cash compensation-
         consulting fees paid
     Changes in operating assets and
     liabilities, net of acquisitions:
     Receivables                                       (732,755)
     Inventory                                           47,615        (7,350)
     Prepaid expense                                      (205)
     Accounts payable and
      accrued expenses                                  153,260

    Cash provided (used) by                             -------       -------
      operating activities                             (275,447)     (197,365)

INVESTING ACTIVITIES
    Capital expenditures                                               (2,343)
                                                                       -------
    Cash used by investing activities                                  (2,343)

FINANCIAL ACTIVITIES
    Proceeds from sale of stock                         114,000
    Officer loan payable (used)                        (104,788)       320,193
                                                        -------        -------
    Cash provided by financing activities                 9,212        320,193

NET (DECREASE) IN CASH                                 (266,235)       120,485
CASH BALANCE BEGINNING OF PERIOD                        267,735       (146,776)
                                                        -------        -------


    CASH BALANCE END OF PERIOD                          $  1,500     $ (26,291)
                                                          =======      ========


    NON CASH ACTIVITIES:
     Interest                                           $   -0-       $   -0-
     Corporate income taxes                             $   -0-       $   -0-
     Business acquisition                               $   -0-       $   -0-


                                      F-5

                          NOTES TO FINANCIAL STATEMENTS

                                 MARCH 31, 2003
                                    Unaudited



NOTE A - BASIS OF PRESENTATION

The  consolidated  financial  statements  include the  accounts of the  Company,
Europhone USA, Inc.,  Europhone,  Inc., Europhone USA, LLC, Eurospeed,  Inc. and
Eurokool, Inc. All significant  inter-company  transactions have been eliminated
in consolidation.

The Consolidated Balance Sheet as of March 31, 2003, the Consolidated  Statement
of Operations,  Statement of Cash Flows and Statement of Stockholders Equity for
the three months ended March 31, 2003 and 2002 have been prepared by the Company
without audit. In the opinion of management, all adjustments (which include only
normal  recurring   adjustments)  necessary  to  present  fairly  the  financial
position,  results of operations  and cash flows at March 31, 2003 and 2002, and
for all periods presented have been made.

These  statements have been prepared in accordance with the instructions to Form
10-QSB and therefore do not  necessarily  include all  information and footnotes
necessary  to  a  presentation  of  the  financial  position,   the  results  of
operations, and the cash flows, in conformity with generally accepted accounting
principles.  Certain information and footnote  disclosures  normally included in
financial  statements  prepared in accordance with generally accepted accounting
principles have been condensed or omitted.  It is suggested that these condensed
financial   statements  be  read  in  conjunction  with  the  audited  financial
statements  and notes thereto  included in the  Company's  annual report on Form
10-KSB for the fiscal  year ended  December  31,  2002.  Operating  results  for
interim  periods are not  necessarily  indicative  of  operating  results for an
entire fiscal year.

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  March  31,  2003,  there  were no  dilutive  securities
outstanding.

NOTE C - INCOME TAXES

A deferred income tax asset is established for the complete amount of income tax
benefits  available in future  periods from the assumed  realization  of tax net
operating  loss  carryforwards.  In  addition,  a  deferred  income tax asset or
liability  is  established  for the  complete  amount of income tax  benefits or
liabilities from the effect of temporary differences.  The components of the net
deferred income tax assets as of March 31, 2003 were as follows:

Deferred income tax assets:
    Net operating loss carryforwards                     $ 812,076
    Valuation allowance                                  ( 812,076)
                                                          --------
Net deferred income tax assets                           $       0
                                                          ========


                                      F-6

At  March  31,  2003,  the  Company  has  federal  and  state  income  tax  loss
carryforwards of approximately  $2,137,042 which expire through 2020, subject to
the  limitations  of the IRC Section  382.  The Company has provided a valuation
allowance of $2,137,042 at March 31, 2003, because, in management's  assessment,
it is uncertain whether the net deferred income tax assets will be realized. The
valuation allowance changed by $2,137,042 during 2002 primarily due to increased
net operating  losses (NOLs) which  increased the amount of the Company's  gross
deferred income tax assets.

Future sales of common stock by the Company or its  principal  stockholders,  or
changes in the  composition of its principal  stockholders,  could  constitute a
"change of control" that would result in annual limitations on the Company's use
of its NOLs and unused tax credits.  Management  cannot  predict  whether such a
"change in control" will occur. If such a "change in control" were to occur, the
resulting annual  limitations on the use of NOLs and tax credits would depend on
the value of the equity of the  Company  and the amount of  "built-in-  gain" or
"built-in-loss"  in the Company's assets at the time of the "change in control,"
which cannot be known at this time.

NOTE D  STOCKHOLDERS' EQUITY

Common Stock

As of March 31, 2003, the Company has received  subscriptions  through a private
placement  for an  aggregate  of  166,600  shares  of common  stock  aggregating
$226,100.

On May 9, 2002, the Company issued  6,000,000 shares of common stock into escrow
in consideration for services, to be provided by a consultant to the Company. As
of March 31, 2003,  the escrowed  shares were being held by the company  pending
completion of the agreement.  Subsequent to the date of the financial statements
these shares were returned to the Stock Transfer Agent for  cancellation.  It is
possible that the  consultant  will take the position that the Company is liable
for the re-issuance of these shares.  The Company is reserving  6,000,000 shares
of common stock pending a final  resolution of its rights and obligations  under
the agreement, which the Company is seeking to accomplish on a negotiated basis.
If the Company is required to re-issue  these  shares of common  stock upon that
resolution or in connection with any subsequent judicial  proceedings,  a charge
to operations of approximately $6,000,000 would be incurred.

The  Company has  received  subscriptions  for an  aggregate  of 166,600  shares
aggregating  $226,100  through  March 31, 2003.  The Company is  reserving  this
number of shares  pending the  completion  of the  offering  and delivery of the
shares.

NOTE E  COMMITMENTS AND CONTINGENCIES

Lease agreements

The Company,  through one its subsidiaries,  leases  approximately 2,700 feet of
office space from an unrelated party at 33 West Main Street, Elmsford, New York.
The lease is in the name of Europhone USA, Inc. and is for a period extending to
January 31, 2006 at an annual rent of $51,471.

NOTE F  Related Party Transactions

In December,  2002 the Company  shipped an aggregate  of  $1,300,000  in prepaid
telephone  cards to three  distributors of prepaid phone cards on an essentially
consignment  basis.  The invoices become due upon the first use of the telephone
cards by the  subscribers.  One of the customers is a company owned by the
daughter of Mr. Vasilios Koutsobinas, Chairman of the Board of the Company.

                                      F-7

The Company is obligated  to repay  moneys  advanced by officers' of the company
aggregating  $1,111,628  with  interest at 4.25%  interest on demand as follows:
$1,060,823 Vasilios Koutsobinas and $50,805 Joshua Shainberg.

                                      F-8

Item 2.  Management's Discussion and Analysis of Financial Condition and
Results of Operations

Unless the context otherwise requires,  (i) all references to "ICT Technologies"
or  the  "Company"  include  ICT   Technologies,   Inc.  and  its  wholly  owned
subsidiaries  Europhone USA, Inc. ("Europhone USA"),  Europhone,  Inc. (together
with Europhone USA, "Europhone") Europhone USA LLC, Eurokool Inc., and Eurospeed
Inc. and (ii) all references to the Company's activities,  results of operations
and financial  condition  prior to May 9, 2002 relate to Europhone USA, which is
the accounting predecessor of the Company.

Overview

ICT  Technologies  is a  distribution  company for  products and services in the
telecommunications   and  consumer  durables   sectors.   ICT  Technologies  has
established distribution relationships for the following products and services:

     Prepaid telephone calling cards;
     Prepaid internet service CD's;
     Air conditioners;
     Motorcycles;
     Internet (ISP) service; and
     Mobile telephones

During  the  first  quarter  of  2003,  ICT  Technologies  completed  its  first
substantial  sale of  shipments  of  prepaid  internet  service  CD's.  ICT also
completed  sales of prepaid  telephone  calling  cards and  continued to provide
long-distance telephone service.

ICT  Technologies'  focus as a distribution  company was  established  through a
transaction  (the  "2002  Transaction")  with  Vasilios  Koutsobinas,  which was
effective as of May 9, 2002.  Pursuant to the 2002 Transaction,  Mr. Koutsobinas
contributed to ICT  Technologies,  Inc. a 100%  ownership  interest in Europhone
USA, Inc. and Europhone, Inc. ("Europhone"), which at the time were wholly owned
by Mr. Koutsobinas,  to perform the remaining contracts described above as agent
for ICT Technologies.  Mr.  Koutsobinas  transferred all of the capital stock of
Europhone USA to ICT Technologies,  Inc. As a result, ICT Technologies succeeded
to the rights of Europhone under the following agreements:

     Distribution   agreements  with  Canquest   Communications   (Canada)  Inc.
     ("Canquest")  and its  affiliate,  Canquest  Communications  (Online)  Inc.
     ("Canquest  Online"),  relating  to the sale of prepaid  telephone  calling
     cards and prepaid internet service, respectively;

     Distribution  agreements with manufacturers located in the Peoples Republic
     of China ("PRC") relating to the sale of air conditioners,  motorcycles and
     mobile    telephones;    and

     Distribution  agreements  with  PNG  Telecommunications,   Inc.  ("PowerNet
     Global")  relating  to the  provision  of  ISP  service  and  long-distance
     service.

We have continued to finance our activities  through the resources of management
and have devoted the majority of our efforts to initiating the Company's  market
plans  for  telecommunications   products,  air  conditioners  and  motorcycles,
developing sources of supply,  developing and testing of marketing strategy, and
expanding the management team to further marketing  research and development for
the  Company's  products.  For the period  from July 1, 2002 to March 31,  2003,
these  activities  were funded through the  subscriptions  of a total of 166,600
shares of common stock aggregating  $226,100. We have also funded our operations
and growth through  officer loans from Mr.  Vasilios  Koutsobinas and Mr. Joshua
Shainberg, aggregating $1,111,629 as of March 31, 2003.

Critical Accounting Policies and Estimates

ICT  Technologies'  results  of  operations  are  based  on the  preparation  of
consolidated  financial  statements in  conformity  with  accounting  principles
generally  accepted  in the  U.S.  The  preparation  of  consolidated  financial
statements  requires  management  to select  accounting  policies  for  critical
accounting  areas as well as estimates and  assumptions  that affect the amounts
reported  in the  consolidated  financial  statements.  Significant  changes  in
assumptions  and/or  conditions  in  our  critical   accounting  policies  could
materially impact our operating results. We believe our most critical accounting
policies relate to revenue recognition.

The Company sells its products primarily through distributors. Such distribution
agreements  do not normally  grant the  distributor  the right to return  unsold
products.  To the  extent  distributors  are  granted  return  rights for unsold
equipment and prepaid phone cards,  sales  transactions to the  distributors are
accounted  for as a  consignment  until  products  are sold by the  distributor.
Generally,  these cards are activated for use once received by the  distributor.
If the  distributor  does not sell these cards within an eighteen  month period,
this activation period will expire.

Telecommunications  service  revenue is  recognized  when services are provided.
Revenue on sales of prepaid  calling  cards is deferred  upon  activation of the
cards  by the  customer  (end-user)  and  recognized  as the card  balances  are
decremented  based on minute  usage and service  charges.  Unused  balances  are
recognized as revenue upon expiration of the calling cards.

Revenues from the sale of prepaid  internet service CD's ("CD's") are recognized
at the time of shipment.  The Company does not defer revenue on the sale of CD's
because the Company's  cost for the CD's  represents a small component of the
sale price, with the total cost of usage being accrued at the time of shipment
and billing,  recognizing  the fact that these CD's will be used by most
customers within a thirty day period from the time of purchase.

Revenue from our long distance services  business is generated,  on a commission
basis, for service provided by a single carrier.

Revenue from the sale of durable goods is recognized when products are shipped.

Consistent with Statement of Financial Accounting  Standards ("SFAS"),  No. 142,
"Goodwill and Other Intangible  Assets,"  goodwill is no longer  amortized,  but
instead tested at least  annually for  impairment.  Prior to 2002,  goodwill was
amortized using the straight-line method over its estimated period of benefit of
15 years.  We have not recorded any  impairments of goodwill since adopting SFAS
No. 142.

Consistent  with SFAS No. 144,  "Accounting  for the  Impairment  or Disposal of
Long-Lived  Assets," we evaluate  long-lived  assets for  impairment  and assess
their  recoverability  based upon  anticipated  future cash flows.  If facts and
circumstances  lead us to  believe  that  the cost of one of our  assets  may be
impaired,  we will write down that  carrying  amount to fair value to the extent
necessary.  We have not  recorded  any  impairment  of  long-lived  assets since
adopting SFAS No. 144.

Business Activities

We   have   organized   our   distribution   business   into   three   segments:
telecommunications,  air conditioners,  and motorcycles.  Our telecommunications
business  includes  the sale of prepaid  telephone  cards and  prepaid  internet
service CD's, mobile telephones, and long distance telephone service.

        Telecommunications Segment

As of March 31, 2003,  our prepaid phone cards are being sold both  domestically
and in Greece.  In December  2002,  we shipped an  aggregate  of  $1,289,340  in
prepaid phone cards to two distributors in Greece on an essentially  consignment
basis.

We have two key  distributors in Greece  representing  $2,000,000 in
product  and  one  domestic  distributor  representing  $2,200,000  in  product.
Included in this  shipment was $541,140  worth of prepaid phone cards shipped to
Antiko Travel, which is wholly owned by the daughter of Mr. Koutsobinas.

In addition to these products, which served as our principal revenue sources for
the three months ended March 31, 2003, we have an agreement with Canquest Online
covering  the period  through  December  31, 2004 for the  distribution  of CD's
through online and  point-of-sale  activated  channels.  The CD's allow users to
access  the  internet  on a  periodic  basis,  as per  their  needs,  until  the
designated amount of time [in hours] available through the disk is depleted.  As
of March 31,  2003,  we have  shipped an aggregate of $700,000 or 50,000 CD's to
one domestic customer.

We also  engage  in the  direct  sale  of long  distance  telephone  service  to
customers as an agent for PowerNet Global. We earn our income as a percentage of
the amount billed to, and collected from, long distance customers sourced by us.
We receive a net payment each month for our share of long distance  revenue.  As
of March 31, 2003, our customer base (long distance only) is located entirely in
the United States.

We have an agreement to distribute  mobile  telephones that are  manufactured by
Ningbo Bird  Corporation,  Ltd. of the Peoples Republic of China ("PRC").  As of
March 31, 2003, we have received  samples of the mobile  telephones that we plan
to sell and have not derived any revenue from the sale of mobile telephones.

        Air Conditioners Segment

We also have agreements for the distribution of air conditioners manufactured by
two  major  suppliers  in the PRC:  Guangdong  Chigo Air  Conditioning  Company,
Limited ("Chigo") and Guangdong  Richvast  Company,  Limited  ("Richvast").  Our
distribution agreement with Chigo covers the period through January 31, 2007. We
are the sole agent for the  distribution  of Chigo products  bearing the "Chigo"
and "Eurokool"  brand names in North,  South and Central  America,  and parts of
Europe,  except that  distribution is permitted only under the "Eurokool"  brand
name in  countries  or regions  where  sales of "Chigo"  branded  products  have
already taken place.  ICT  Technologies'  distribution  agreement  with Richvast
covers  the  period  through  August  2007.  Pursuant  to  this  agreement,  ICT
Technologies  is  entitled  to  distribute  Richvast  products  worldwide.   ICT
Technologies  has an  exclusive  right  to  distribute  specific  models  of air
conditioners in Europe,  manufactured by Richvast,  bearing the "Eurokool" brand
name.

        Motorcycles Segment

We have an agreement with Giantco, Limited of Hong Kong, PRC ("Giantco") for the
worldwide  distribution  through March 1, 2007 of  motorcycles  manufactured  by
Giantco and bearing the  "Eurospeed"  brand.  As of March 31, 2003,  we have not
generated any revenue and have samples of these motorcycles in inventory.

The  Company's  distribution  agreements  for durable  goods  (including  mobile
telephones) include  requirements that ICT Technologies order minimum quantities
of products.  These minimum order  requirements have not been satisfied to date,
and  although the relevant  suppliers  have agreed  verbally not to enforce such
requirements  based on past order  shortfalls (in some cases,  in recognition of
the  fact  that  regulatory  approvals  have  not  been  obtained),  there is no
assurance  that these  suppliers  will not seek to enforce the minimum  purchase
requirements in the future.  These minimum  quantities are substantial,  and ICT
Technologies  does not  currently  have the  financial  resources to satisfy the
minimum ordering  requirements to which ICT  Technologies is subject.  Moreover,
ICT Technologies'  distribution  agreements generally do not establish any price
at which  the  goods to be  supplied  thereunder  are to be  purchased,  and the
Company must negotiate prices for each shipment of goods it orders.

Results of Operations  for the three months ended March 31, 2003, as compared to
the three months ended March 31, 2002. Revenues for the three months ended March
31, 2003 consist of long distance  telephone  service,  prepaid telephone cards,
and CD's.

                             ICT TECHOLOGIES, INC.
                      CONSOLIDATED STATEMENT OF OPERATIONS
                          For the three months ended

                                                 March 31,        March 31,
                                                   2003             2002
                                                Unaudited

Revenue

  Long Distance telephone                    $ 17,000   2.2%
  Prepaid telephone cards
   and internet CD's                          747,931  97.8%    409,375  100.0%

                                            ---------  -----   ---------  -----
Total revenues                                764,931 100.0%    409,375  100.0%

Cost of goods sold
  Prepaid telephone cards
   and internet CD's                          148,500  19.4%    281,445  68.7%
                                            ---------  -----   ---------  -----

  Total cost of goods sold                    148,500  19.4%    281,445  68.7%

Gross profit                                  616,431  80.6%    127,930  31.3%

Operating expenses
  Selling, general and administrative         359,795  47.0%    317,952  77.7%
  Depreciation                                  3,878   0.1%      3,500    .1%
                                             ---------  -----  ---------  -----
Total operating expenses                      363,673  47.1%    321,452  78.5%

Income (loss) from operations                 252,758  33.1%   (193,522)(47.3)%
Other income
  Interest income                                   2                 7
                                             ---------  -----  ---------  -----
Total other income                                  2                 7

Net income (loss)                             252,760  33.0%  $(193,515) (47.3)
                                            =========  =====  =========  =====


For the three months ended March 31, 2003,  the Company  generated  net sales of
$764,931 as compared to $409,375 for the three months ended March 31, 2002.  For
the three  months ended March 31,  2003,  revenues  consisted of $17,000 in long
distance  telephone service and $747,931 in prepaid telephone cards and internet
CD's.  Revenues from long distance  telephone  service were from domestic retail
customers.

As of March 31, 2003, service costs for the prepaid telephone calling
cards and CD's were $148,500 or 19.4% of revenue.  As of March 31, 2002, service
costs for the prepaid  telephone  calling cards and prepaid  internet cards were
$281,445 or 68.7% of revenue.

Our gross  profit for all  categories  for the three months ended March 31, 2003
was  $616,431 or 80.6% of sales.  Our gross  profit for all  categories  for the
three months ended March 31, 2002 was $127,930 or 31.3% of sales.

The Company's selling, general and administrative costs aggregated approximately
$359,795 for the three months ended March 31, 2003,  as compared to $317,952 for
the three months ended March 31, 2002,  representing an increase of $41,843. The
aggregate of $359,795  consists of the following:  professional fees of $69,675;
office  expenses  of $6,435,  advertising  of  $112,218,  payroll  of  $113,725,
insurances of $39,184 and travel and entertainment of $18,558.  The aggregate of
$317,952 consists of legal and professional expenses of $12,375; consulting fees
of  $11,935;  advertising  of  $47,824;  travel  and  entertainment  of  $4,873;
telephone of $3,564 and selling, general and administration of $237,381.

Liquidity and Capital Resources

Net cash used by operating  activities  was $275,447 for the first quarter
of 2003, as compared to net cash used by operating  activities of $197,365 for
the first  quarter of 2002.  This amount includes, amongst other things, cash
being provided by a net profit from operations of $252,760, a reduction in
inventory of $47,615, and an increase in accounts payable of $153,260, which
includes an accrual for the expected telephone access time relating to the
internet access CD's aggregating $100,000.

Net cash used by investing activities was $-0- for the first quarter of 2003, as
compared  to net cash used by  investing  activities  of  $$2,343  for the first
quarter of 2002.

Net cash used by financing  activities  was $9,212 for the first quarter of 2003
as compared to net cash  provided by  financing  activities  of $320,193 for the
first  quarter of 2002.  During the first  quarter of 2003,  we reduced  officer
loans  payable by $104,788,  and received net proceeds of $114,000  from private
sales of our  common  stock.  During  the same  period in 2002,  we  funded  our
operations  through an increase in officer loans payable  aggregating  $320,193.
Working  capital at March 31,  2003 was  negative  at  $239,387 as compared to a
negative of $610,025 at December 31, 2002.

The Company's cash balance at March 31, 2003 and currently is inadequate to meet
ICT  Technologies'  needs  for any  appreciable  period  of time.  Although  ICT
Technologies'  operations  are using cash rather than  producing  positive  cash
flow,  management  believes that it will  eventually be able to fund the Company
through the Company's  reorganization  process by  increasing  revenues from the
sale and collection of prepaid  telephone  calling cards and CD's, long distance
telephone  service,  and air  conditioners.  We also  expect  to  experience  an
increase  in  revenues  from the sales of our other  products:  motorcycles  and
mobile telephones.  We believe that shipments of air conditioners, motorcycles
and telephones will take place during the second quarter of 2003 and that cash
will be generated to fund subsequent shipments.  It will be necessary for the
Company to obtain additional financing arrangements, and in certain cases to
obtain additional regulatory approvals, to expand its distribution activities.

Until positive cash flow can be generated,  ICT Technologies
will have to raise additional  capital to meet its routine  operating  expenses.
There is no assurance that such financing will be available to ICT  Technologies
on terms  satisfactory  to it or on any terms at all.  Messrs.  Koutsobinas  and
Shainberg have no obligation to make any further investment in ICT Technologies.
If ICT Technologies  raises additional capital at this time through the issuance
of  additional  equity,  the  current   shareholders  of  ICT  Technologies  may
experience substantial dilution.


Item 3. Controls and Procedures

As of a date within 90 days before the filing date of this quarterly  report, an
evaluation  was performed  under the  supervision of Vasilios  Koutsobinas,  the
Companys  chief  executive  officer,  and Andrew  Eracleous,  the Companys chief
financial  officer,  of the  effectiveness  of the design and  operation  of the
Company's disclosure controls and procedures.  Messrs. Koutsobinas and Eracleous
recognized  that any controls and  procedures,  no matter how well  designed and
operated,  can provide  only  reasonable  assurances  of  achieving  the desired
control objectives and they necessarily were required to exercise their judgment
in evaluating the cost-benefit relationship of possible controls and procedures.
Based on that evaluation,  the Company's management,  including the CEO and CFO,
concluded that the Company  presently has in place controls and other procedures
that are designed to provide reasonable  assurance that information  required to
be disclosed by ICT  Technologies  in the reports that it files or submits under
the  Securities  Exchange Act of 1934 is  recorded,  processed,  summarized  and
reported within the time periods  specified in the SEC's rules and forms.  There
have been no significant  changes in the Company's internal controls or in other
factors that could  significantly  affect internal  controls  subsequent to such
date.

Disclosure  controls and procedures are our controls and other  procedures  that
are  designed to ensure that  information  required to be disclosed by us in the
reports that we file or submit  under the  Exchange Act is recorded,  processed,
summarized and reported, within the time periods specified in the Securities and
Exchange  Commission's  rules and  forms.  Disclosure  controls  and  procedures
include,  without  limitation,  controls and procedures  designed to ensure that
information required to be disclosed by us in the reports that we file under the
Exchange Act is accumulated and  communicated  to our management,  including our
principal  executive officers and principal financial officer, as appropriate to
allow timely decisions regarding required disclosure.



                           PART II - OTHER INFORMATION

Item 1. Legal Proceedings

In May of 1999,  ICT  Technologies,  Inc. and its President,  Joshua  Shainberg,
brought an action against Furio Maglione and 9008-9657  Quebec Corp.  (aka Giros
Corp.) in the United States District Court, District of New Jersey, Docket #C 99
2058(AMW)  alleging that defendants had breached an agreement  pursuant to which
300,000 shares (the "Shares") of ICT  Technologies,  Inc. common stock was to be
exchanged for certain real estate assets. The complaint was subsequently amended
to add Abraham Shainberg, the original owner of the shares and a former director
and former  officer of ICT  Technologies,  Inc, as a  plaintiff  and to add Olde
Monmouth  Stock  Transfer and Trust Co.  ("Olde  Monmouth"),  ICT  Technologies,
Inc.'s  transfer  agent,  as a defendant.  As a result of this  litigation,  the
Shares are being held by Olde  Monmouth  subject  to an order  preventing  their
transfer  until further court order.  The goal of the  litigation is to have the
Shares returned to Abraham Shainberg.

Furio Maglione subsequently asserted  counterclaims against Joshua Shainberg and
ICT  Technologies,  Inc.  for breach of contract and  misrepresentation  seeking
unspecified  actual and punitive damages.  Mr. Maglione alleged in his
counterclaims that his agreement with such plaintiffs was breached by virtue of
transfer restrictions being applicable to the Shares at the time they were
tendered to Mr. Maglione and by misrepresentations concerning the value of the
Shares and their free transferability.  ICT Technologies does not believe the
counterclaims  asserted  against it have any merit and  intends  to defend  this
action  vigorously.  ICT  Technologies  intends  to file a  motion  for  summary
judgment  with respect to the  counterclaims  prior to the June 1, 2003 deadline
established by the court.

Item 2. Changes in Securities

54,500 in unregistered  shares of the Company's common stock were subscribed to
in a private placement.  These securities were offered in reliance upon an
exemption from registration pursuant to Section 4(2) of the Securities Act of
1933 and Rule 506 thereunder as a transaction not involving any public offering.
No broker/dealers were involved in the sale and no commissions were paid.  The
purchasers of such shares were sophisticated and had access to adequate
information about the Company.

Item 3. Defaults upon Senior Securities

None

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

(a)  Exhibits


99.1 Chief Executive Officers  Certification of Financial Statements Pursuant to
18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002

99.2 Chief Financial Officers  Certification of Financial Statements Pursuant to
18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002

(b)  Reports on Form 8-K

None.

<PAGE>

                                   SIGNATURES

Pursuant  to the  requirements  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.

Date: May 19, 2003

                                    ICT Technologies, Inc.
                                    -----------------------------------------
                                    (Registrant)



                                    /s/ Vasilios Koutsobinas
                                    -----------------------------------------
                                    Vasilios Koutsobinas
                                    Chief Executive Officer



                                    /s/ Andrew Eracleous
                                    -----------------------------------------
                                    Andrew Eracleous
                                    Chief Financial Officer
                                    (Principal Financial and Accounting Officer)
<PAGE>


                                 CERTIFICATIONS

I, Vasilios Koutsobinas, certify that:

1. I have reviewed  this  quarterly  report on Form 10-QSB of ICT  Technologies,
   Inc.;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

     a)   Designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities,  particularly  during  the  period in which  this  quarterly
          report is being prepared;

     b)   Evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   Presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent functions):

     a)   All  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,   summarize  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     b)   Any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly report whether or not there were significant  changes in internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

May 19, 2003
                                              /s/ Vasilios Koutsobinas
                                              ----------------------------------
                                              Vasilios Koutsobinas
                                              Chief Executive Officer



<PAGE>


I, Andrew Eracleous, certify that:

1. I have reviewed  this  quarterly  report on Form 10-QSB of ICT  Technologies,
   Inc.;
2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

     a)   Designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities,  particularly  during  the  period in which  this  quarterly
          report is being prepared;

     b)   Evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   Presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent functions):

     a)   All  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,   summarize  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     b)   Any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly report whether or not there were significant  changes in internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

May 19, 2003
                                              /s/ Andrew Eracleous
                                              ----------------------------------
                                              Andrew Eracleous
                                              Chief Financial Officer

<PAGE>

Exhibit 99.1

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of ICT Technologies,  Inc. (the Company)
on Form 10-QSB for the period ending March 31, 2003 as filed with the Securities
and  Exchange   Commission  on  the  date  hereof  (the  Report),   I,  Vasilios
Koutsobinas,  Chief Executive  Officer of the Company,  certify,  pursuant to 18
U.S.C.  Section 1350, as adopted  pursuant to Section 906 of the  Sarbanes-Oxley
Act of 2002 and to the best of my knowledge and belief, that:

(1) The Report fully complies with the  requirements of section 13 (a) or 15 (d)
of the Securities Exchange Act of 1934 (16 U.S.C. 78m or 78o(d)); and

(2) The  information  contained in the Report fairly  presents,  in all material
respects, the financial condition and results of operations of the Company.

/s/    Vasilios Koutsobinas
___________________________

Vasilios Koutsobinas
Chief Executive Officer

May 19, 2003

<PAGE>


Exhibit 99.2

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of ICT Technologies,  Inc. (the Company)
on Form 10-QSB for the period ending March 31, 2003 as filed with the Securities
and Exchange  Commission on the date hereof (the Report),  I, Andrew  Eracleous,
Chief Financial Officer of the Company,  certify,  pursuant to 18 U.S.C. Section
1350, as adopted pursuant to Section 906 of the  Sarbanes-Oxley  Act of 2002 and
to the best of my knowledge and belief, that:

(1) The Report fully complies with the  requirements of section 13 (a) or 15 (d)
of the Securities Exchange Act of 1934 (16 U.S.C. 78m or 78o(d)); and

(2) The  information  contained in the Report fairly  presents,  in all material
respects, the financial condition and results of operations of the Company.


/s/    Andrew Eracleous
_______________________

Andrew Eracleous
Chief Financial Officer

May 19, 2003