SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, D.C.  20549



                                      FORM 10-QSB


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


                        For the Quarter Ended March 31, 2000
                               Commission File No. 33-18461


                                 JET SET LIFE USA, INC.
                 (Exact Name of Registrant as Specified in its Charter)


                         Delaware                          75-2195575
             (State or other jurisdiction of            (I.R.S. Employer
              incorporation or organization)           Identification No.)


             21935 Van Buren, Suite 4,   Grand Terrace, California    92313
                (Address of principal executive offices)            (Zip Code)


                                     (909) 783-1800
                  (Registrant's telephone number, including area code)


     Indicate by check mark whether the registrant (1) has filed all reports
     required to be filed by Sections 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

     As of July 5, 2000, there were 69,167,792 shares of common stock
     outstanding.

     PART I

     ITEM 1.  FINANCIAL STATEMENTS:

     Unaudited financial statements for the quarter covered by this  report
     are attached hereto.

<PAGE>

                  JET SET LIFE USA, INC. AND SUBSIDIARIES
                   CONDENSED CONSOLIDATED BALANCE SHEETS
                                (UNAUDITED)



                                   ASSETS
                                                    March 31,   June 30,
                                                       2000        1999
                                                    ----------  ----------
Current Assets
     Cash                                           $      772  $      881
     Accounts receivable                                 2,159       2,159
     Inventory                                          45,871      20,388
                                                    ----------  ----------
     Total Current Assets                               48,802      23,428
                                                    ----------  ----------
Property and Equipment
     Machinery and equipment                            59,038      58,771
     Computer equipment and software                    77,977      77,995
     Furniture and fixtures                              4,776       4,776
     Leasehold improvements                             12,528      12,528
                                                    ----------  ----------
     Total Property and Equipment                      154,319     154,070
                                                    ----------  ----------
     Less:  Accumulated Depreciation                  (126,438)   (115,399)
                                                    ----------  ----------
     Net Property and Equipment                         27,881      38,671
                                                    ----------  ----------
Other Assets - Deposits                                  1,000       1,000
                                                    ----------  ----------
Total Assets                                        $   77,683  $   63,099
                                                    ==========  ==========

See the accompanying notes to the condensed consolidated financial
statements.

                                    1
<PAGE>

                   JET SET LIFE USA, INC. AND SUBSIDIARIES
              CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
                                (UNAUDITED)



                     LIABILITIES AND STOCKHOLDERS' DEFICIT

                                                    March 31,     June 30,
                                                      2000         1999
                                                   -----------  -----------
Current Liabilities
     Accounts payable                              $   355,293  $   347,727
     Accrued liabilities                               389,880      320,326
     Note payable - related party                      673,311      672,944
     Notes payable                                      58,680       19,680
                                                   -----------  -----------
     Total Current Liabilities                       1,477,164    1,360,677
                                                   -----------  -----------
Contingent Liabilities

Stockholders' Deficit
     Common stock - $0.0001 par value; 100,000,000
       shares authorized; issued and outstanding:
       March 31, 2000 - 67,424,292,
       June 30, 1999 - 66,256,792
       and outstanding                                   6,742        6,626
     Additional paid-in capital                        567,986      509,727
     Accumulated deficit                            (1,972,569)  (1,814,467)
     Foreign currency translation adjustment            (1,640)         536
                                                   -----------  -----------
     Total Stockholders' Deficit                    (1,399,481)  (1,297,578)
                                                   -----------  -----------

Total Liabilities and Stockholders' Deficit        $    77,683  $    63,099
                                                   ===========  ===========

See the accompanying notes to the condensed consolidated financial statements.

                                     2
<PAGE>


                  JET SET LIFE USA, INC. AND SUBSIDIARIES
             CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                (UNAUDITED)
<TABLE>
<CAPTION>



                                                 For the Three Months Ended     For the Nine Months Ended
                                                           March 31,                      March 31,
                                                   ------------------------     --------------------------
                                                       2000        1999             2000          1999
                                                   -----------  -----------     ------------   -----------
<S>                                                <C>          <C>             <C>            <C>
Sales                                              $    23,106  $    50,046     $     80,189   $   120,821
Cost of Goods Sold                                      11,282       24,507           37,130        35,163
                                                   -----------  -----------     ------------   -----------
          Gross Profit                                  11,824       25,539           43,059        85,658
                                                   -----------  -----------     ------------   -----------
Operating Expenses
     General and administrative expense                 24,482       39,949          135,968       119,125
     Sales and marketing                                 3,697        1,974           13,351        13,295
     Depreciation and amortization                       3,643        4,228           10,900        12,682
                                                   -----------  -----------     ------------    ----------
          Total Operating Expenses                      31,822       46,151          160,219       145,102
                                                   -----------  -----------     ------------    ----------
Income (Loss) from Operations                          (19,998)     (20,612)        (117,160)       (59,444)

Interest Expense                                        14,658       15,045            40,942        45,137
                                                   -----------  -----------     -------------  ------------
Net Loss                                           $   (34,656) $   (35,657)    $    (158,102) $   (104,581)
                                                   ===========  ===========     =============  ============
Basic and Diluted
  Loss Per Share                                   $     (0.00) $     (0.00)    $       (0.00) $      (0.00)
                                                   ===========  ===========     =============  ============
Weighted Average Common Shares
 Used in Per Share Calculation                      67,424,292   66,226,792        67,040,828    66,212,832
                                                   ===========   ==========     =============  ============

</TABLE>

See the accompanying notes to the condensed consolidated financial
statements.
                                 3
<PAGE>

               JET SET LIFE USA, INC. AND SUBSIDIARIES
           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                            (UNAUDITED)

                                                 For the Nine Months Ended
                                                           March 31,
                                                   ------------------------
                                                      2000         1999
                                                   -----------  -----------
Cash Flows From Operating Activities
     Net loss                                      $  (158,102) $  (104,581)
     Adjustment to reconcile net loss to net
      cash provided by operating activities:
     Depreciation and amortization                      11,040       12,682
     Stock issued for services                          58,375        3,750
     Expensed paid by shareholder	                     2,986            -
     Personal expenses of the
      president paid by the Company                          -       (5,168)
     Changes in certain current assets
      and liabilities:
     Accounts receivable                                     -       13,723
     Inventory                                         (25,483)       5,181
     Bank overdraft                                          -        2,830
     Accounts payable                                    7,566      (33,135)
     Accrued liabilities                                69,552       65,230
                                                   -----------  -----------
     Net Cash Used In Operating Activities             (34,066)     (39,488)
                                                   -----------  -----------
Cash Flows From Investing Activities
     Purchase of equipment                                (249)           -
                                                   -----------  -----------
     Net Cash Used In Investing Activities                (249)           -
                                                   -----------  -----------
Cash Flows From Financing Activities
     Proceeds from notes payable to
      related parties                                   20,761       75,469
     Proceeds from notes payable                        41,000       23,680
     Principal payment on notes payable to
       related parties                                 (23,379)     (59,367)
     Principal payments on notes payable                (2,000)           -
                                                   -----------  -----------
     Net Cash Provided By Financing Activities          36,382       39,782
                                                   -----------  -----------
Effect of Exchange Rate Changes on Cash                 (2,176)        (294)
                                                   -----------  -----------
Net Decrease in Cash                                      (109)           -

Cash and Cash Equivalents At Beginning of Period           881            -
                                                   -----------  -----------
Cash and Cash Equivalents At End of Period         $       772  $         -
                                                   ===========  ===========
Supplemental Disclosures of Cash Flow Information:
     Interest Paid                                 $         -  $         -
                                                   ===========  ===========

See the accompanying notes to the condensed consolidated financial statements.

                                        4
<PAGE>


                 JET SET LIFE USA, INC. AND SUBSIDIARIES
        NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


NOTE 1--INTERIM CONDENSED FINANCIAL STATEMENTS

The interim accompanying condensed financial statements have been prepared by
the Company, and are not audited. All adjustments necessary for fair
presentation have been included, and consist only of normal recurring
adjustments. These financial statements are condensed and, therefore, do not
include all disclosures normally required by generally accepted accounting
principles. These statements should be read in conjunction with the Company's
annual financial statements included in the Company's Annual Report on Form
10-KSB. The financial position and results of operations presented in the
accompanying financial statements are not necessarily indicative of the
results to be generated for the remainder of the year.

NOTE 2--STOCKHOLDERS' EQUITY

During the nine months ended March 31, 2000, the Company issued 1,167,500
shares of common stock for services valued at $58,375, or $0.05 per share.

During the nine months ended March 31, 1999, the Company issued 25,000 shares
of common stock for services valued at $3,750, or $0.15 per share.

NOTE 3--STOCK OPTIONS

During the nine months ended March 31, 2000, the Company issued options
to purchase 15,000 shares of common stock at an exercise price of $0.25
per share for a period of three years to its employees. At March 31,
2000, the Company had 25,000 options outstanding and exercisable at a
weighted-average exercise price of $0.25 per share. The Company measures
compensation under stock-based options and plans using the intrinsic value
method prescribed in Accounting Principles Board Opinion 25, "Accounting
for Stock Issued to Employees", and related interpretations, for stock
options granted to employees, and determines compensation cost granted to
non-employees based on the fair value at the grant dates consistent with
the alternative method set forth under Statement of Financial Accounting
Standards No. 123, (SFAS 123) "Accounting for Stock-Based Compensation".
Stock-based compensation charged to operations was $0 for the nine month
period ended March 31, 2000 and 1999. There would have been no effect
on net loss and loss per share had compensation cost for the Company's
options been determined based upon SFAS
123.

The fair value of each option granted was estimated on the date of grant
using the Black-Scholes option-pricing model with the following
weighted-average assumptions: dividend yield of 0.0%; expected volatility
of 0.0%; risk-free interest rate of 6.04% and expected life of the options
of 3 years.

NOTE 4--CONTINGENCIES AND COMMITMENTS

An individual has asserted a claim against the Company and others wherein it
is contended that this individual loaned money to the Company and that the
individual is entitled to stock and other forms of monetary compensation and
damages as a result of dealings with the Company and the conduct of the
Company. The Company denies liability and alleges that this individual dealt
with others in a series of transactions that did not directly involve the
company. Notwithstanding the contentions of the parties, the Company views
this matter as a potential claim, and should this individual file a lawsuit,
this individual would possibly name the Company as a defendant. This
individual has demanded the sum of $71,000 plus interest at 10% plus $2,000
in costs. The Company anticipates that should a civil complaint be filed, it
would include a variety of causes of action ranging from contract claims to
tort claims, some of which would include claims based on misrepresentations
of facts. On May 17, 2000, this individual was issued 250,000 shares of free
trading stock of the Company and 500,000 shares of restricted stock of the
Company. As a result of the issuance of the stock, this individual released
all claims against the Company.

During May 1998, the Company signed an agreement with an individual to
promote the Company's products. The Company gave this individual 25,000
shares of common stock at the date the agreement was signed. If this
individual was promoting the Company's products one year from the date the
agreement was signed, the individual was to receive an additional 25,000
shares of common stock which was issued during the year ended June 30, 1999.
If this individual was promoting the Company's products two years from the
date the agreement was signed, the individual was to receive an additional
25,000 shares on common stock. The Company expects to issue all of the
common stock to this individual as a result of this agreement.

The Company is also a defendant in a lawsuit whereby the plaintiffs allege a
breach of a lease agreement. The leased premises were sold to another entity
and the Company currently has a lease with this entity. The amount sought by
the plaintiff is $14,831. The Company has asserted various defenses to the
claims and is currently defending the action, there have been initial
settlement discussion and it is anticipated that the matter will be settled
by way of a compromise and stipulation agreement.

Additionally, the Company is involved in a dispute of the sponsoring of a
professional boat race in Nevada. The Company has not made an appearance in
court and does not know the status of that action as it has not been
contacted by the plaintiff and has not received any notification of any
action taken by the plaintiff with regards to the prosecution of the action.
The amount demanded by the plaintiff is $6,000 plus 40,000 shares of common
stock.

The Company is also a defendant to other various lawsuits which have been
filed in the United States and the United Kingdom for which judgements have
been entered against the Company. The amount of the judgements have been
accrued in the financial statements.


ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
          CONDITION AND RESULTS   OF OPERATIONS.

The Company sells a line of  lubrication products which have the
unique ability to impart extreme pressure properties to the
lubricants by using the reengineered molecules of calcium carbonate.
 The line consists of Oil Extreme Concentrate, Oil Extreme "Better
Than Synthetic" Motor Oil, and Grease Extreme.  A fuel saving device
named the Triple Charger is manufactured and sold by the Company.

Financial Position

Jet Set Life USA, Inc. had a cash balance of $772 as of March 31, 2000.
This represents a decrease of $109 from June 30, 1999. Working capital
deficit, as of March 31, 2000 increased to $1,428,362 compared to a
working capital deficit of $1,337,249 at June 30, 1999. The Company had
an accumulated deficit of $1,972,569 at March 31, 2000.

Results of Operations

During the nine months ended March 31, 2000 and 1999, Jet Set Life USA
had total operating revenues of $80,189 and $120,821, respectively. During
the nine month period ended March 31, 2000 and 1999, the Company had a
gross profit of $43,059, or 54% of sales and $85,658, or 71% of sales,
respectively. General and administrative expenses were $135,968 for the nine
months ended March 31, 2000, compared with $119,125 for the comparable
period from the prior year.

Commencing in the 1st quarter of 1997, sales took a sharp drop and
have continued to decline after the introduction of the new oil
additive, "Oil Extreme". This revolutionary new oil technology uses
calcium carbonate to form a tribochemical film which fills the
asperities or microscopic hills and valleys found in all metal
surfaces. Oil Extreme replaced a former product, Oil Charger, which
used chlorinated paraffins to form the tribochemical film.

Although Oil Charger produced better mileage, acceleration, and
horsepower, there were harmful side effects caused by the
chlorinated paraffins.  Chlorinated paraffins produce hydrochloric
acid when heated in an engine, and when they react with ZDDP, which
is found in all motor oil additive packages, sludge is formed. The
result is a corrosive and environmentally unfriendly combination.
Chlorinated paraffins are not used in legitimate motor or racing
oils. However, they are used by many additive companies because they
produce immediate results with a low cost.  Even though many
additive companies use chlorinated paraffins, this fact is generally
not addressed in promotional material.

The Company's direct sales force is made up of mostly part-time
independent sales people, and given their dedication to the former
product, some initial difficulties were experienced with the
introduction of Oil Extreme which ultimately affected sales for the
oil additive as well as for the Triple Charger.  In an effort to
compensate for this drop in sales, the Company produced presentation
books, slides, videos, brochures, and have further introduced a
program where it gave each distributor $10,000.00 in free Oil
Extreme on a buy one get one free basis if they attend a training
school, pass a written test, and make a minimum of sales
presentations.  That program has now been canceled.  Many
distributors have now had the opportunity of testing Oil Extreme for
themselves and are convinced that the product is as good as Oil
Charger if not better.  Other distributors have not yet become
convinced that this change is for the better.  As a result, sales
have continued to decrease.

With the introduction of Oil Extreme, the Company feels that it will
eventually be in a much stronger position than before.  It is
anticipated that because of the unique way in which the
tribochemical film reduces friction and wear, Oil Extreme will
ultimately be the biggest seller in our product line, especially in
light of the fact that dynamometer readings indicate that any
vehicle will achieve an increase in horsepower after using Oil
Extreme.

To reduce its reliance on mostly part-time distributors the Company
has started a campaign to recruit retail dealers in the automotive,
motorcycle, and boat racing industry.  This also includes engine
builders in each category.  After seeing what has happened to other
oil additive companies once their TV infomercials ceased the
management feels that building a solid reputation in the racing
industry will eventually give its products the stature it needs to
gain acceptance in the commercial and fleet market.

During the fiscal years 1998 and 1999 the Company instituted the
following actions to increase awareness of its products: 1. The
Company embarked on a program of dynamometer testing which proved
Oil Extreme produces horsepower. 2. JSLT developed its own complete
motor oil with the calcium carbonate technology already in the oil.
This makes us a legitimate oil company and not just an additive
producer. 3. The Company started a concentrated push to reach the
automotive performance market. This includes; auto racing,
motorcycle racing, snowmobile racing, truck racing, drag racing, hot
rods, and custom cars. It is not uncommon for even very small engine
shops, and race car and motorcycle builders to have a dynamometer in
their shops. These are the individuals who can prove in a few
minutes that Oil Extreme produces horsepower. This can shorten the
test time drastically, and prove Oil Extreme does everything the
Company says it does. 4.  The Company plans to attend performance
racing industry trade shows, to introduce Oil Extreme to the
performance market, and to give samples to anyone willing to test
the product on their dynamometers. The Company also plan to attend
performance industry shows internationally as funds permit. 5. The
Company plans a limited advertising campaign in conjunction with
articles showing that both Oil Extreme concentrate and Oil Extreme
motor oil out-performs every "top" synthetic racing oil in the
world. 6. The Company plans to supply Oil Extreme to a variety of
top race teams. 7.  The Company plans to open a web site on the
Internet.  8.  The Company plans to start a mobile oil change
dealership program, where exclusive territories will be given to
dealers who purchase a special van which is equipped to change oil
at the customer's office or business and who exclusively use the Oil
Extreme motor oil.  All of the above programs should give the
Company the reputation of being a legitimate oil company, with
legitimate new oil technology.

Even though management has seen a large drop in sales after the new
Oil Extreme was substituted for the older Oil Charger technology,
expenses have also been reduced to the point where management feels
that just a few large orders by companies or overseas importers who
have been testing the products could bring the sales back to
previous levels, and beyond.  Since the Company has done so well in
racing, and has so many success stories to tell, management feels it
is time to also start a campaign to recruit many more network
marketing distributors, and since the Internet has become so
powerful a recruiting, training, and sales tool, management is
presently having a new Company web site designed.  It is expected
that self replicating web sites will be made available for each new
dealer, with a reduced monthly web site fee charged each dealer.
The new Oil Extreme Mobile Pit Stop oil change business will be the
only mobile oil change business that has its own brand of oil and it
should be a very desirable dealership to own.  It is estimated that
each mobile oil change van should use one 55 gallon drum of oil a
week.  Management feels that as soon as data from the first few
Mobile oil change vans is collected, that this part of the business
can be franchised and a fee charged for the protected territories.

The Company had introduced a new gas and diesel fuel additive it is
calling Gas Extreme. It was first introduced at the SEMA automotive
after market show in Las Vegas in January. Over 1200 samples were
given away to automotive dealers. Even though the product was met
with some skepticism, after the product was tried many new dealers
were recruited. Management feels this product could increase sales
and profits substantially because of the high price of gasoline in
the US as well as overseas.

With petrol and diesel fuel prices as high as $4.00 to $5.00 per
gallon in many countries, and with more and more emphasis being
placed on motor vehicle emissions, the Company hopes to establish
wholly-owned sales offices and distribution centeres in countries in
many part of the world. With any new product that claims to increase
horsepower and gas mileage there is always a time lag before
individuals are convinced that the product reports have been
recieved that it can confidently promote this new product.

Management feels that this change in direction of not relying on
part-time sales people has slowed sales, but sales will rebound once
the retail dealers and engine builders have had an opportunity to
test the products for themselves.  Once the Internet web site is
completed and the Oil Extreme Mobile Pit Stop oil change vans are in
operation that they will be able to take advantage of all the racing
successes the company has achieved, such as sponsoring Arie Luyendyk
at Indianapolis in the Indy 500race in 1999.  Oil Extreme gained
wide publicity from Arie setting the fastest qualifying time for the
500 mile race and by leading the race.  Unfortunately he was
involved in a race accident while leading with the race half over
and his car was unable to continue.  The Company has the right
to use Arie's picture and testimonial in its advertising and
brochures, and is finding this a great confidence builder to customers.
The company plans to continue an aggressive program of sponsoring race
cars in many different classes.

Liquidity and Capital Resources

Jet Set Life USA had current liabilities of $1,477,164 and had no
long-term liabilities as of March 31, 2000. Working capital deficit
was $1,428,362 as of March 31, 2000.

Year 2000 Issues:  The Company's computers and software programs
encountered no problems on January 1, 2000.


PART II

ITEM 1.  LEGAL PROCEEDINGS

         An individual has asserted a claim against the Company and
         others wherein it is contended that this individual loaned
         money to the Company and that the individual is entitled to
         stock and other forms of monetary compensation and damages as
         a result of dealings with the Company and the conduct of the
         Company.  The Company denies liability and alleges that this
         individual dealt with others in a series of transactions that
         did not directly involve the Company.  Notwithstanding the
         contentions of the parties, the Company views this matter as
         a potential claim, and should this individual file a lawsuit,
         this individual would possibly name the Company as a
         defendant.  This individual has demanded the sum of $71,000
         plus interest at 10% plus $2,000 in costs.  The Company
         anticipates that should a civil complaint be filed, it would
         include a variety of causes of action ranging from contract
         claims to tort claims, some of which would include claims
         based on misrepresentations of facts. On May 17, 2000, this
         individual was issued 250,000 shares of free trading stock of
         the Company and 500,000 shares of restricted stock of the
         Company. As a result of the issuance of the stock, this
         individual released all claims against the Company.

         The Company is also a defendant in a lawsuit whereby the
         plaintiffs allege a breach of a lease agreement.  The leased
         premises were sold to another entity and the Company
         currently has a lease with this entity.  The amount sought by
         the plaintiff is $14,831.  The Company has asserted various
         defenses to the claims and is currently defending the action,
         there have been initial settlement discussion and it is
         anticipated that the matter will be settled by way of a
         compromise and stipulation agreement.

         Additionally, the Company is involved in a dispute of the
         sponsoring of a professional boat race in Nevada. The Company
         has not made an appearance in court and does not know the
         status of that action as it has not been contacted by the
         plaintiff and has not received any notification of any action
         taken by the plaintiff with regards to the prosecution of the
         action.  The amount demanded by the plaintiff is $6,000 plus
         40,000 shares of common stock.

         The Company is also a defendant to other various lawsuits
         which have been filed in the United States and the United
         Kingdom for which judgements have been entered against the
         Company.  The  amount of the judgements have been accrued in
         the financial statements.


                                  JUDGMENTS

         The following judgments have been entered against Jet Set Life
         Technologies, UK Ltd.

               1.  Elliott Group           Pound    564.24 (Pounds Sterling)
               2.  Market Link Publishing  Pound  3,065.58
               3.  Neat Ideas              Pound    102.04
               4.  R.J. Stark              Pound    450.00
               5.  Teet-Comm               Pound    439.29
               6.  Chester Chronicle       Pound    490.00
               7.  Rates (Taxes)           Pound  2,240.45
               8.  CMYK                    Pound    161.38
               9.  Kings Manor Hotel       Pound    125.25

                   TOTAL                   POUND  7,638.23

         JSLT, UK Ltd. has plans of resolving these as soon as possible.


ITEM 2.  CHANGES IN SECURITIES
          None.

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
          None.



                                SIGNATURES

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



     JET SET LIFE USA, INC.



     Date: July 10, 2000                     By: /s/  George French
                                             -----------------------------
                                             George French, President