U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB
                                   -----------


(MARK ONE)

[X]  QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
     OF 1934 FOR THE QUARTERLY PERIOD ENDED FEBRUARY 29, 2004

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
     OF 1934 FOR THE TRANSITION PERIOD FROM TO


COMMISSION FILE NUMBER: 000-26089


                       L.O.M. MEDICAL INTERNATIONAL, INC.
                       ----------------------------------
        (Exact name of small business issuer as specified in its charter)

DELAWARE                                    98-0178784
--------                                    ----------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)


                       #3-1482 Springfield Road, Kelowna,
                        British Columbia, Canada V1Y 5V3
                        --------------------------------
                    (Address of principal executive offices)

                                  250.762.7552
                                  ------------
                (Issuer's Telephone Number, including Area Code)



                              Thomas E. Stepp, Jr.
                                 Stepp Law Group
                          32 Executive Park, Suite 105
                          Irvine, California 92614-6742
                             Telephone: 949.660.9700
                             Facsimile: 949.660.9010
                             -----------------------
            (Name, Address and Telephone Number of Agent for Service)


                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check  whether  the issuer  (1) has filed all  reports  required  to be filed by
Section 13 or 15(d) of the  Exchange  Act during the past 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.
                                                                [x] Yes  [ ] No

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity,  as of the latest  practical  date. As of February 29, 2004,  there were
6,369,627  shares of the  issuer's  $.001  par value  common  stock  issued  and
outstanding.


<PAGE>






                                     PART I
                                     ------

SPECIAL NOTE REGARDING INDEPENDENT ACCOUNTANTS REVIEW
-----------------------------------------------------
The Company's independent  accountants,  KPMG LLP, have not performed any review
procedures  at the time of filing this  quarterly  report on Form 10-QSB for the
three and nine months  period ended  February 29, 2004,  as required  under Item
310(b) of Regulation S-B.


Item 1.  Financial Statements
-----------------------------










                        Consolidated Financial Statements of


                        L.O.M. MEDICAL INTERNATIONAL INC.
                        ---------------------------------

                        (A Development Stage Enterprise)

                        Three and nine month periods ended February 29, 2004

                        (Unaudited)
























                                        2
<PAGE>



<TABLE>
<CAPTION>
L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Consolidated Balance Sheets
$ United States

February 29, 2004 and May 31, 2003

================================================================================================================
                                                                                February 29,             May 31,
                                                                                        2004                2003
                                                                                 (Unaudited)
----------------------------------------------------------------------------------------------------------------

Assets

<S>                                                                         <C>                 <C>
Current assets:
     Cash and cash equivalents                                              $         3,595     $         7,642
     Amounts receivable                                                               8,026              16,418
     Prepaid expenses                                                                71,026              71,799
     -----------------------------------------------------------------------------------------------------------
                                                                                     82,647              98,859

Deposits                                                                             11,251              11,117

Property, plant and equipment                                                        13,802              17,270

----------------------------------------------------------------------------------------------------------------
                                                                            $       107,700     $       124,246
================================================================================================================

Liabilities and Stockholders' Deficiency

Current liabilities:
     Accounts payable and accrued liabilities (note 4)                      $     1,068,687     $       516,837
     Convertible promissory notes (note 2)                                            7,886              46,486
----------------------------------------------------------------------------------------------------------------
                                                                                  1,076,573             563,323

Minority interest (note 5)                                                          325,338             321,469


Share subscriptions (note 3)                                                         63,873             100,605

Stockholders' deficiency:
     Capital stock
       5,000,000     preferred shares with a par value of $0.001 per
                     share authorized
       50,000,000    common shares with a par value of $0.001 per
                     share authorized, 6,369,627 issued
                     (May 31, 2003 - 6,311,813 issued), net of treasury
                     stock of 51,467 (May 31, 2003 - 51,073)                          6,369               6,312
     Additional paid-in capital                                                   4,221,304           4,080,739
     Deficit accumulated during the development stage                            (5,619,061)         (4,981,506)
     Accumulated other comprehensive income                                          33,304              33,304
----------------------------------------------------------------------------------------------------------------
                                                                                (1,358,084)            (861,151)
Going concern (note 1 (a))
----------------------------------------------------------------------------------------------------------------
                                                                            $       107,700     $       124,246
================================================================================================================
</TABLE>

See accompanying notes to consolidated financial statements






                                        3
<PAGE>



<TABLE>
<CAPTION>
L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Consolidated Statements of Loss
$ United States

Nine months ended February 29, 2004 and February 28, 2003 and period from
inception (March 17, 1997) to February 29, 2004
(Unaudited)

==============================================================================================================
                                                    From inception    Nine months ended,    Nine months ended,
                                                  (March 17, 1997)          February 29,          February 28,
                                              to February 29, 2004                  2004                  2003
--------------------------------------------------------------------------------------------------------------

<S>                                               <C>                   <C>                   <C>
Expenses:
     General and administration                   $     4,160,582       $       455,637       $       646,342
     Research and development                           1,581,300               181,921                75,556
     ---------------------------------------------------------------------------------------------------------
                                                        5,741,882               637,558               721,898

--------------------------------------------------------------------------------------------------------------
Loss from operations                                   (5,741,882)             (637,558)             (721,898)

Other income:
     Interest income                                      122,821                     3                   567

--------------------------------------------------------------------------------------------------------------
Loss                                               $   (5,619,061)       $     (637,555)      $      (721,331)
==============================================================================================================


Weighted average number of common shares,
   basic and diluted                                    5,327,147             6,334,227             6,226,941

Loss per share, basic and diluted                   $       (1.05)      $         (0.10)      $         (0.12)
==============================================================================================================
</TABLE>

See accompanying notes to consolidated financial statements



























                                        4
<PAGE>



L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Consolidated Statements of Loss
$ United States

Three months ended February 29, 2004 and February 28, 2003
(Unaudited)

===============================================================================
                                                        2004               2003
-------------------------------------------------------------------------------

Expenses:
     General and administration             $       147,885    $       356,072
     Research and development                        84,869             25,323
     --------------------------------------------------------------------------
                                                    232,752            381,395

-------------------------------------------------------------------------------
Loss from operations                               (232,752)          (381,395)

Other income:
     Interest income                                      -                 55

-------------------------------------------------------------------------------
Net loss                                    $      (232,752)   $      (381,340)
===============================================================================


Weighted average number of common shares,
   basic and diluted                              6,368,030          6,281,523

Loss per common share, basic and diluted    $         (0.04)   $         (0.06)
===============================================================================

See accompanying notes to consolidated financial statements





























                                        5
<PAGE>



<TABLE>
<CAPTION>
L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Consolidated Statements of Cash Flows
$ United States

Nine months ended February 29, 2004 and February 28, 2003 and period from
inception (March 17, 1997) to February 29, 2004
(Unaudited)

===============================================================================================================================

                                                                                                    Nine months ended,
                                                                      From inception       ------------------------------------
                                                                   (March 17, 1997)            February 29,        February 28,
                                                                 to February 29, 2004                  2004                2003
-------------------------------------------------------------------------------------------------------------------------------

Cash flows provided by (used in):

<S>                                                                  <C>                   <C>                 <C>
Operating activities:
   Loss for the period                                               $    (5,619,061)      $      (637,555)    $      (721,331)

   Items not involving cash
     Amortization                                                            105,019                 3,468              12,132
     Amortization of discount on convertible promissory notes                 43,286                10,351               8,974
     Gain on sale of fixed assets                                             (2,659)                    -                   -
     Write down of product rights and patent costs                           374,128                     -                   -
     Subscription for common shares for consulting services                   44,375                42,750               3,250
     Common shares issued for consulting services                            109,584                     -              88,734
     Compensation cost of stock options issued for services                  486,719                     -             191,450
     Foreign exchange loss (gain) on redeemable preferred shares              23,610                 3,868               7,837
     Write-down of advances and deposits                                     168,680                     -                   -
     Common shares issued in lieu of cash payment of
       Interest on convertible promissory notes                                1,690                 1,435                   -

   Changes in non-cash working capital
     Amounts receivable                                                       (8,026)                8,392               6,620
     Prepaid expenses                                                        (71,026)                  773              (6,250)
     Accounts payable and accrued liabilities                                902,508               550,856              28,190
     --------------------------------------------------------------------------------------------------------------------------
                                                                          (3,441,173)              (15,662)           (380,394)
Financing activities:
     Issuance of capital stock                                             2,746,747                     -             188,323
     Issuance of convertible debentures                                       72,639                     -              66,639
     Common shares rescinded or repurchased                                  (48,851)               (1,625)                  -
     Proceeds from subscriptions for shares                                1,009,423                13,374               4,875
     --------------------------------------------------------------------------------------------------------------------------
                                                                           3,779,958                11,749             259,837
Investing activities:
     Deposits                                                               (179,931)                 (134)                  -
     Proceeds on disposition of property, plant and equipment                  6,189                     -                   -
     Acquisition of property, plant and equipment                           (104,352)                    -                   -
     Acquisition of product rights                                           (90,577)                    -                   -
     --------------------------------------------------------------------------------------------------------------------------
                                                                            (368,671)                 (134)                  -

Effects of change in exchange rates on cash                                   33,481                     -                   -
-------------------------------------------------------------------------------------------------------------------------------
Increase (decrease) in cash                                                    3,595                (4,047)           (120,557)

Cash, beginning of period                                                          -                 7,642             142,114
-------------------------------------------------------------------------------------------------------------------------------
Cash, end of period                                                  $         3,595       $         3,595     $        21,557
===============================================================================================================================







                                        6
<PAGE>



<CAPTION>
L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Consolidated Statements of Cash Flows (continued)
$ United States

Nine months ended February 29, 2004 and February 28, 2003 and period from
inception (March 17, 1997) to February 29, 2004
(Unaudited)

===============================================================================================================================

<S>                                                                  <C>                   <C>                 <C>
Supplementary information
   Interest paid                                                     $             -       $             -     $             -
   Income taxes paid                                                               -                     -                   -
Non-cash financing and investing activities
   Issuance of redeemable preferred shares for product rights                309,677                     -                   -
   Common shares issued for conversion of share subscriptions              1,010,324               100,605              34,375
   Common shares issued for consulting services                              109,584                     -              73,659
   Common shares rescinded and cancelled                                      47,851                 1,625                   -
   Subscriptions for common shares for consulting services                    44,375                42,450                   -
   Common shares issued upon conversion of convertible promissory
     notes and accrued interest                                                1,293                     -                   -
   Subscriptions for common shares upon conversion of convertible
     promissory notes and accrued interest                                    63,036                50,386                   -
   Compensation cost of stock options issued for services                    486,719                     -                   -
   Unpaid amount related to rescinded shares (note 4)                        149,763                (8,570)            (11,390)
   Unpaid amount related to returned shares                                   16,416                 9,565                   -
===============================================================================================================================
</TABLE>

See accompanying notes to consolidated financial statements
































                                        7
<PAGE>



<TABLE>
<CAPTION>
L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Consolidated Statements of Cash Flows
$ United States

Three months ended February 29, 2004 and February 28, 2003
(Unaudited)

==========================================================================================================

                                                                              Three months ended,
                                                                      ------------------------------------
                                                                          February 29,        February 28,
                                                                                  2004                2003
----------------------------------------------------------------------------------------------------------

Cash flows provided by (used in):

<S>                                                                   <C>                 <C>
Operating activities:
   Loss for the period                                                $      (232,752)    $      (381,340)

   Items not involving cash
     Amortization                                                               1,156               4,044
     Amortization of discount on convertible promissory notes                       -               8,974
     Gain on sale of fixed assets                                                   -                   -
     Write down of product rights and patent costs                                  -                   -
     Subscription for common shares for consulting services                         -             (70,409)
     Common shares issued for consulting services                                   -              88,734
     Compensation cost of stock options issued for services                         -             191,450
     Foreign exchange loss (gain) on redeemable preferred shares              (14,345)             14,822
     Write-down of advances and deposits                                            -                   -
     Common shares issued in lieu of cash payment of
       Interest on convertible promissory notes                                     -                   -

   Changes in non-cash working capital
     Amounts receivable                                                        (3,297)             (3,115)
     Prepaid expenses                                                             831              (6,250)
     Accounts payable and accrued liabilities                                 250,877              (9,602)
     -----------------------------------------------------------------------------------------------------
                                                                                2,470            (162,692)
Financing activities:
     Issuance of capital stock                                                      -             188,323
     Issuance of convertible debentures                                             -              66,639
     Common shares rescinded or repurchased                                         -                   -
     Proceeds from subscriptions for shares                                         -            (145,650)
     -----------------------------------------------------------------------------------------------------
                                                                                    -             109,312
Investing activities:
     Deposits                                                                     496                   -
     Proceeds on disposition of property, plant and equipment                       -                   -
     Acquisition of property, plant and equipment                                   -                   -
     Acquisition of product rights                                                  -                   -
     -----------------------------------------------------------------------------------------------------
                                                                                  496                   -

Effects of change in exchange rates on cash                                         -                   -
----------------------------------------------------------------------------------------------------------
Increase (decrease) in cash                                                     2,966             (53,380)

Cash, beginning of period                                                         629              74,937
----------------------------------------------------------------------------------------------------------
Cash, end of period                                                   $         3,595     $        21,557
==========================================================================================================







                                        8
<PAGE>



<CAPTION>
L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Consolidated Statements of Cash Flows (continued)
$ United States

Three months ended February 29, 2004 and February 28, 2003
(Unaudited)

==========================================================================================================

<S>                                                                   <C>                 <C>
Supplementary information
   Interest paid                                                      $             -     $             -
   Income taxes paid                                                                -                   -
Non-cash financing and investing activities
   Issuance of redeemable preferred shares for product rights                       -                   -
   Common shares issued for conversion of share subscriptions                       -                   -
   Common shares issued for consulting services                                     -                   -
   Common shares rescinded and cancelled                                            -                   -
   Subscriptions for common shares for consulting services                          -                   -
   Common shares issued upon conversion of convertible promissory
     notes and accrued interest                                                     -                   -
   Subscriptions for common shares upon conversion of convertible
     promissory notes and accrued interest                                          -                   -
   Compensation cost of stock options issued for services                           -                   -
   Unpaid amount related to rescinded shares (note 4)                          (6,945)                  -
   Unpaid amount related to returned shares                                         -                   -
==========================================================================================================
</TABLE>

See accompanying notes to consolidated financial statements

































                                        9
<PAGE>



<TABLE>
<CAPTION>
L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Consolidated Statement of Stockholders' Equity (Deficiency) and Comprehensive
Loss
$ United States

Period from inception (March 17, 1997) to February 29, 2004

=================================================================================================================================
                                              Capital Stock                              Deficit
                                       ---------------------------                   Accumulated     Accumulated            Total
                                             Number                    Additional     During the           Other    Stockholders'
                                          of Common                       Paid in    Development   Comprehensive           Equity
                                             Shares         Amount        Capital          Stage          Income     (Deficiency)
---------------------------------------------------------------------------------------------------------------------------------

<S>                                      <C>          <C>            <C>            <C>             <C>             <C>
Common shares issued on incorporation            3    $         1    $         -    $         -     $         -     $          1

Comprehensive income (loss):
  Loss                                           -              -              -       (138,272)              -         (138,272)
  Foreign currency translation                   -              -              -              -          13,582           13,582
---------------------------------------------------------------------------------------------------------------------------------
Comprehensive loss                                                                                                      (124,690)

---------------------------------------------------------------------------------------------------------------------------------
Balance, May 31, 1997                            3              1              -       (138,272)         13,582         (124,689)

Common shares issued to founders
  and others at $0.001                   4,210,090          4,210              -              -               -            4,210

Common shares issued at $1.00
  net of share issue costs                 668,154            668        469,887              -               -          470,555

Common shares issued at $1.00 on
  conversion of share subscriptions        605,000            605        604,395              -               -          605,000

Comprehensive income (loss):
  Loss                                           -              -              -       (293,239)              -         (293,239)
  Foreign currency translation                   -              -              -              -          (7,294)          (7,294)
---------------------------------------------------------------------------------------------------------------------------------
Comprehensive loss                                                                                                      (300,533)

---------------------------------------------------------------------------------------------------------------------------------
Balance, May 31, 1998                    5,483,247          5,484      1,074,282       (431,511)          6,288          654,543

Common shares issued on
  November 30, 1998 at $3.25
  net of share issue costs                  36,300             36         96,726              -               -           96,762

Comprehensive income (loss):
  Loss                                           -              -              -       (726,055)              -         (726,055)
  Foreign currency translation                   -              -              -              -          17,038           17,038
---------------------------------------------------------------------------------------------------------------------------------
Comprehensive loss                                                                                                      (709,017)

---------------------------------------------------------------------------------------------------------------------------------
Balance, May 31, 1999                    5,519,547          5,520      1,171,008     (1,157,566)         23,326           42,288

Common shares issued on
  April 17, 2000 at $3.25
  net of share issue costs                 307,610            308        967,335              -               -          967,643

Common shares issued on
  May 10, 2000 at $3.25 on
  conversion of share
  subscriptions                             19,302             19         62,712              -               -           62,731

Comprehensive income (loss):
  Loss                                           -              -              -       (508,835)              -         (508,835)
  Foreign currency translation                   -              -              -              -           9,978            9,978
---------------------------------------------------------------------------------------------------------------------------------
Comprehensive loss                                                                                                      (498,857)

---------------------------------------------------------------------------------------------------------------------------------
Balance, May 31, 2000                    5,846,459    $     5,847    $ 2,201,055    $(1,666,401)    $    33,304     $     573,805
---------------------------------------------------------------------------------------------------------------------------------


                                       10
<PAGE>



<CAPTION>
L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Consolidated Statements of Stockholders' Equity (Deficiency) and Comprehensive
Loss (continued)
$ United States

Period from inception (March 17, 1997) to February 29, 2004

=================================================================================================================================
                                              Capital Stock                              Deficit
                                       ---------------------------                   Accumulated     Accumulated            Total
                                             Number                    Additional     During the           Other    Stockholders'
                                          of Common                       Paid in    Development   Comprehensive           Equity
                                             Shares         Amount        Capital          Stage          Income     (Deficiency)
---------------------------------------------------------------------------------------------------------------------------------

<S>                                      <C>          <C>            <C>            <C>             <C>             <C>
Balance, May 31, 2000,
  carried forward                        5,846,459    $     5,847    $ 2,201,055    $(1,666,401)    $    33,304     $    573,805

Common shares issued on
  September 22, 2000 for
  cash at $3.25 net of share
  issue costs                              249,271            250        726,654              -               -          726,904

Common shares issued on
  December 19, 2000 at $3.25
  on conversion of share
  subscriptions                             57,081             57        185,456              -               -          185,513

Compensation costs for
  stock options issued for
  services                                       -              -        295,269              -               -          295,269

Comprehensive income (loss):
  Loss                                           -              -              -     (1,216,128)              -       (1,216,128)
  Foreign currency translation                   -              -              -              -               -                -
---------------------------------------------------------------------------------------------------------------------------------
Comprehensive loss                                                                                                    (1,216,128)
---------------------------------------------------------------------------------------------------------------------------------

Balance, May 31, 2001                    6,152,811    $     6,154    $ 3,408,434    $(2,882,529)    $    33,304     $    565,363

Common shares issued on
  August 31, 2001 at $3.25
  on conversion of share
  subscriptions                              6,800              7         22,093              -               -           22,100

Common shares issued for cash
  on October 11, 2001 at $3.25, net
  of share issue costs                      38,211             38        110,245              -               -          110,283

Common shares issued for cash
  on January 10, 2002 at $3.25               5,020              5         16,310              -               -           16,315

Common shares issued for cash
  on January 10, 2002 at $2.41              47,697             47        114,903              -               -          114,950

Common shares issued for consulting
  services rendered on January 10,
  2002 at $2.41                              7,303              7         17,593              -               -           17,600

Shares rescinded and cancelled
  on February 22, 2002                     (18,702)           (19)       (46,207)             -               -          (46,226)

Common shares issued for cash
  on April 2, 2002 at $3.25                  2,880              3          9,357              -               -            9,360

Common shares issued for cash
  on April 2, 2002 at $2.41                 10,400             10         25,054              -               -           25,064



                                       11
<PAGE>



<CAPTION>
L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Consolidated Statements of Stockholders' Equity (Deficiency) and Comprehensive
Loss (continued)
$ United States

Period from inception (March 17, 1997) to February 29, 2004

=================================================================================================================================
                                              Capital Stock                              Deficit
                                       ---------------------------                   Accumulated     Accumulated            Total
                                             Number                    Additional     During the           Other    Stockholders'
                                          of Common                       Paid in    Development   Comprehensive           Equity
                                             Shares         Amount        Capital          Stage          Income     (Deficiency)
---------------------------------------------------------------------------------------------------------------------------------

<S>                                      <C>          <C>            <C>            <C>             <C>             <C>
Common shares issued for cash
  on April 2, 2002 at $1.00                 10,000             10          9,990              -               -           10,000

Common shares issued for cash
  on April 24, 2002 at $3.25                   462              1          1,501              -               -            1,502

Comprehensive loss                               -              -              -     (1,051,699)              -       (1,051,699)
---------------------------------------------------------------------------------------------------------------------------------
                                         6,262,882          6,263      3,689,273     (3,934,228)         33,304         (205,388)

Shares rescinded and retained
  as treasury stock                        (81,231)           (81)      (217,266)             -               -         (217,347)

Shares repurchased and retained
  as treasury stock                         (3,205)            (3)        (7,848)             -               -           (7,851)

---------------------------------------------------------------------------------------------------------------------------------
Balance, May 31, 2002                    6,178,446    $     6,179    $ 3,464,159    $(3,934,228)    $    33,304     $   (430,586)

Common shares issued on conversion
  on share subscriptions on
  August 30, 2002 at $3.25, net
  of share issue costs                      10,693             11         34,364              -               -           34,375

Common shares issued for cash on
  October 29, 2002 at $2.485                   165              -            410              -               -              410

Common shares issued for cash on
  October 29, 2002 at $2.61, net
  of share issue costs                      16,935             17         44,183              -               -           44,200

Common shares issued for cash on
  October 29, 2002 at $2.70, net
  of share issue costs                      14,923             15         40,275              -               -           40,290

Common shares issued for cash on
  October 29, 2002 at $3.25                    500              -          1,625              -               -            1,625

Common shares issued for cash on
  October 29, 2002 at $4.40                 14,546             15         63,985              -               -           64,000

Common shares issued for consulting
  services on October 29, 2002 at
  $3.09                                     23,827             24         73,636              -               -           73,660

Common shares issued for cash on
  February 28, 2003 at $3.25                11,630             12         37,786              -               -           37,798

Common shares issued for consulting
  services on February 28, 2003
  at $3.25                                   4,638              5         15,069              -               -           15,074



                                       12
<PAGE>



<CAPTION>
L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Consolidated Statements of Stockholders' Equity (Deficiency) and Comprehensive
Loss (continued)
$ United States

Period from inception (March 17, 1997) to February 29, 2004

=================================================================================================================================
                                              Capital Stock                              Deficit
                                       ---------------------------                   Accumulated     Accumulated            Total
                                             Number                    Additional     During the           Other    Stockholders'
                                          of Common                       Paid in    Development   Comprehensive           Equity
                                             Shares         Amount        Capital          Stage          Income     (Deficiency)
---------------------------------------------------------------------------------------------------------------------------------

<S>                                      <C>          <C>            <C>            <C>             <C>             <C>
Common shares issued on
  February 28, 2003 at $2.00 upon
  conversion of convertible
  promissory note                              323              -            646              -               -              646

Common shares issued for cash
  on May 20, 2003 at $3.25                   1,500              1          4,874              -               -            4,875

Common shares issued on
  May 20, 2003 at $2.00 upon
  conversion of convertible
  promissory note                              324              -            647              -               -              647

Common shares issued for consulting
  services on May 20, 2003 at $3.25          1,000              1          3,249              -               -            3,250

Share rescission retracted (note 4)         32,363             32         58,981              -               -           59,013

Beneficial conversion option on
  convertible promissory note
  (note 2)                                       -              -         45,400              -               -           45,400

Compensation cost of options issued
  for services                                   -              -        191,450              -               -          191,450

Comprehensive loss:
  Loss                                           -              -              -     (1,047,278)              -       (1,047,278)
---------------------------------------------------------------------------------------------------------------------------------
Balance, May 31, 2003                    6,311,813    $     6,312    $ 4,080,739    $(4,981,506)    $    33,304     $   (861,151)

Common shares issued for cash
  on November 5, 2003 at $3.25               9,977             10         32,415              -               -           32,425

Common shares issued for cash
  on November 5, 2003 at $2.50              19,394             19         48,466              -               -           48,485

Common shares issued for cash
  on November 5, 2003 at $2.20                 455              -          1,000              -               -            1,000

Common shares issued on
  November 5, 2003 at $2.00 upon
  conversion of convertible
  promissory note                            6,325              6         12,644              -               -           12,650

Common shares issued for consulting
  services on November 5, 2003 at
  $3.25                                        500              1          1,624              -               -            1,625

Common shares issued for cash
  on November 13, 2003 at $3.25              2,360              2          7,668              -               -            7,670

Common shares issued on
  November 13, 2003 at $2.00 upon
  conversion of convertible
  promissory note                           19,697             20         39,367              -               -           39,387



                                       13
<PAGE>



<CAPTION>
L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Consolidated Statements of Stockholders' Equity (Deficiency) and Comprehensive
Loss (continued)
$ United States

Period from inception (March 17, 1997) to February 29, 2004

=================================================================================================================================
                                              Capital Stock                              Deficit
                                       ---------------------------                   Accumulated     Accumulated            Total
                                             Number                    Additional     During the           Other    Stockholders'
                                          of Common                       Paid in    Development   Comprehensive           Equity
                                             Shares         Amount        Capital          Stage          Income     (Deficiency)
---------------------------------------------------------------------------------------------------------------------------------

<S>                                      <C>          <C>            <C>            <C>             <C>             <C>
Share rescission retracted (note 4)          2,137              2          6,943              -               -            6,945

Shares repurchased and retained
  as treasury stock                         (3,031)            (3)        (9,562)             -               -           (9,565)

Comprehensive loss:
  Loss                                           -              -              -       (637,555)              -         (637,555)
---------------------------------------------------------------------------------------------------------------------------------
Balance, February 29, 2004               6,369,627    $     6,369    $ 4,221,304    $(5,619,061)    $    33,304     $ (1,358,084)
=================================================================================================================================
</TABLE>







































                                       14
<PAGE>



L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Notes to Consolidated Financial Statements
$ United States

Three month and nine month periods ended February 29, 2004 and February 28, 2003
(Unaudited)
================================================================================


L.O.M. Medical  International Inc. ("LOM") or the ("Company"),  was incorporated
on March 17, 1997 under the General  Corporation  Laws of Delaware.  It conducts
research  and  development  on new  products  in the medical  field  including a
retractable syringe. Operations effectively commenced on June 1, 1997.

1.   Significant accounting policies:
-------------------------------------

     a)   Going concern

          These  financial  statements  have been  prepared by management on the
          going concern basis in accordance with accounting principles generally
          accepted  in  the  United   States  of  America,   which  assumes  the
          realization of assets and  liquidation of liabilities  and commitments
          in the  normal  course  of  business.  As  shown  in the  consolidated
          financial statements,  to date, the Company has generated no revenues,
          has a working  capital  deficiency and has accumulated a deficit since
          inception  of   $5,619,061.   These  factors,   among  others,   raise
          substantial  doubt about the Company's  ability to continue as a going
          concern.  The  Company's  ability to  continue  as a going  concern is
          dependent on its ability to generate future profitable  operations and
          receive  continued  financial  support from its stockholders and other
          investors.  The consolidated  financial  statements do not include any
          adjustments that might result from the outcome of this uncertainty.

          In the short-term,  management's  plans involve  obtaining  additional
          funding from  stockholders in the form of advances or additional share
          subscriptions  to support  continued  operations.  In the longer term,
          management's plans include realizing profitable operations from future
          sales of the  retractable  syringe.  There can be no assurance  that a
          market will  develop for the  retractable  syringe or that  additional
          advances  or share  financings  will be  available.  Failure to obtain
          adequate  financing to continue  current  development  activities will
          cause the Company to curtail operations.

     b)   Basis of presentation

          The  consolidated  financial  statements  include the  accounts of the
          Company and its 96% owned  subsidiary.  All significant  inter-company
          balances and transactions have been eliminated.

          The financial  information  presented as at February 29, 2004, for the
          three  months ended  February 29, 2004 and February 28, 2002;  for the
          nine months ended February 29, 2004 and February 28, 2002; and for the
          period  from  inception  (March  17,  1997) to  February  29,  2004 is
          unaudited,  however,  in the opinion of  management,  all  adjustments
          (consisting  solely of normal  recurring items) necessary for the fair
          presentation of these unaudited accounts in conformity with accounting
          principles  generally  accepted in the United  States of America  have
          been made. These unaudited interim  consolidated  financial statements
          should be read in  conjunction  with the audited  annual  consolidated
          financial  statements for the year ended May 31, 2003 filed under Form
          10-KSB.

     c)   Management estimates

          The preparation of financial  statements in conformity with accounting
          principles generally accepted in the United States of America requires
          management to make estimates and assumptions  that affect the reported
          amounts of assets and liabilities and disclosures of contingent assets
          and  liabilities  at the  date  of the  financial  statements  and the
          reported amounts of revenues and expenses during the reporting period.
          Actual results could differ from those estimates.




                                       15
<PAGE>



L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Notes to Consolidated Financial Statements
$ United States

Three month and nine month periods ended February 29, 2004 and February 28, 2003
(Unaudited)
================================================================================


2.   Convertible promissory notes:
----------------------------------

     During  the  year  ended  May 31,  2003,  the  Company  issued  convertible
     promissory  notes for aggregate cash proceeds of $72,639.  The  convertible
     promissory notes bear interest at 7.25%, are unsecured and are due June 30,
     2003.  The original  principal of the notes is convertible to common shares
     at $2.00  per  share.  Accrued  and  unpaid  interest  on the notes was not
     originally convertible to common shares, however subsequent to the issuance
     of the notes the Company and note holders agreed to convert any accrued and
     unpaid interest at the conversion date at $2.00 per share.

     A  deemed  discount  existed  at the  date  of  issue  of  the  convertible
     promissory notes due to a beneficial  conversion  option, as the notes were
     convertible  into common shares at a price that was less than the estimated
     fair value of the common  shares at the date of  issuance.  Accordingly,  a
     deemed discount relating to the beneficial conversion option of $45,400 was
     recorded and was  amortized  over the period from the issuance  date to the
     maturity date of June 30, 2003 in accordance with issue 6 of EITF 00-27.

     During the nine months ended February 29, 2004,  $48,951 of the convertible
     promissory  notes plus accrued  interest were converted into  subscriptions
     for 25,198 common shares of the Company.

     ===========================================================================
     Convertible promissory notes                                $      10,000

     Unamortized discount related to the beneficial
       conversion option                                                (2,114)

     ---------------------------------------------------------------------------
                                                                 $       7,886
     ===========================================================================


3.   Share subscriptions:
-------------------------

     As at May 31, 2003, the Company had received share subscriptions for 11,337
     common shares at $3.25 per share for net proceeds of $36,845, 19,394 common
     shares at $2.50 per share for net proceeds of $48,485, 455 common shares at
     $2.20 per share for net proceeds of $1,000,  500 common  shares in exchange
     for services  received  prior to May 31, 2003 having a value of $1,625,  as
     well as 6,325 shares at a price of $2.00 per share upon receipt of a notice
     of conversion for a convertible  promissory  note plus interest of $12,650.
     During the nine months  ended  February  29,  2004,  the  Company  received
     additional share  subscriptions for 16,269 common shares at $3.25 per share
     for net  proceeds  of $52,874  as well as 5,501  shares at a price of $2.00
     upon receipt of a notice of conversion  for a convertible  promissory  note
     plus interest of $10,999.  All  subscription  proceeds were received by the
     Company  prior to February 29, 2004 and were issued  subsequent to February
     29, 2004.









                                       16
<PAGE>



L.O.M. MEDICAL INTERNATIONAL INC.
---------------------------------
(A Development Stage Enterprise)

Notes to Consolidated Financial Statements
$ United States

Three month and nine month periods ended February 29, 2004 and February 28, 2003
(Unaudited)
================================================================================


4.   Accounts Payable:
----------------------

     Included  in  the  accounts  payable  and  accrued  liabilities  amount  of
     $1,068,687 is $656,301 due to Directors,  Officers,  and  Shareholders  for
     advances  made  to  the  Company,  $166,179  is  a  result  of  outstanding
     rescissions  and share  repurchases,  and the remaining  amount of $246,207
     consists of general accounts payablea.

     Stockholders  who acquired 99,933 of common stock from the Company prior to
     May 31, 2001 for aggregate  proceeds of approximately  $263,573,  exercised
     their right of rescission during the year ended May 31, 2002. Subsequently,
     eleven shareholders holding 34,500 shares,  valued at approximately $65,959
     had cancelled  there right to rescind their shares  leaving an  outstanding
     obligation  of  65,433  shares  valued  at  approximately  $197,614.  As of
     February 29, 2004 the Company had repaid 19,202 shares valued at $47,851 of
     the $263,573 therefore resulting in a net outstanding  obligation of 46,231
     shares valued at $149,763.  The remaining  $149,763 as at February 29, 2004
     is unsecured and is included in accounts payable and accrued liabilities on
     the consolidated  balance sheet. The Company does not have sufficient funds
     to repay this liability at this time.

     Treasury  stock  consists of the 99,933  shares of common stock  originally
     acquired under the rescission order less 19,202 shares of common stock that
     was cancelled  and 34,500  shares of common stock for which the  rescission
     offer was retracted by the original  purchaser plus 5,236 shares which were
     repurchased  separately  and are  being  held as  treasury  stock for total
     treasury stock of 51,467 shares.

     a Included in the  $656,301  amount,  $206,333  is subject to a  promissory
     note,  which is  unsecured,  due on demand,  bears no  interest  and has no
     scheduled  repayment  terms  and  $449,968  is a result of  accrued  wages.
     Included in the $166,179  amount,  $149,763 is a result of the  outstanding
     rescission  obligation  and  $16,416  is  a  result  of  outstanding  share
     repurchases.  Included in the $246,207  amount,  is an amount  payable to a
     consultant  aggregating  $89,172.  Management  is disputing the validity of
     this amount.  Any additional  costs or recoveries to the Company in respect
     of these  disputes  will be recorded in the period in which the matters are
     settled.


5.   Minority interest:
-----------------------

     The Company's  subsidiary has redeemable  preferred  shares  outstanding as
     follows:

<TABLE>
<CAPTION>
     ======================================================================================================
                                                                                      2004           2003
     ------------------------------------------------------------------------------------------------------

<S>                                                                                <C>            <C>
     Issued:
     4,000 Class C preferred shares with a par value of $100 Cdn redeemable at
     $110.16 Cdn per share at the option of the holder. Each share is entitled
     to a fixed non-cumulative dividend at the rate of 9% per annum payable as
     determined by the Directors of the Company.                                   325,338        321,469
</TABLE>






                                       17
<PAGE>




Item 2.  Management's Discussion and Analysis or Plan of Operation
------------------------------------------------------------------

THE DISCLOSURE AND ANALYSIS IN THIS REPORT CONTAINS  FORWARD-LOOKING  STATEMENTS
OF MANAGEMENT  ("FORWARD-LOOKING  STATEMENTS")  INCLUDING,  WITHOUT  LIMITATION,
FORWARD-LOOKING  STATEMENTS  REGARDING  EXPECTATIONS,  BELIEFS,  INTENTIONS  AND
FUTURE STRATEGIES.  FORWARD-LOOKING  STATEMENTS ARE STATEMENTS THAT ESTIMATE THE
HAPPENING   OF  FUTURE   EVENTS   AND  ARE  NOT  BASED  ON   HISTORICAL   FACTS.
FORWARD-LOOKING  STATEMENTS  MAY BE  IDENTIFIED  BY THE  USE OF  FORWARD-LOOKING
TERMINOLOGY,  SUCH AS "COULD",  "MAY", "WILL",  "EXPECT",  "SHALL",  "ESTIMATE",
"ANTICIPATE",  "PROBABLE", "POSSIBLE", "SHOULD", "CONTINUE", "INTEND" OR SIMILAR
TERMS,   VARIATIONS  OF  THOSE  TERMS  OR  THE  NEGATIVE  OF  THOSE  TERMS.  THE
FORWARD-LOOKING  STATEMENTS  SPECIFIED IN THIS  QUARTERLY  REPORT FOR THE 10-QSB
HAVE BEEN COMPILED BY MANAGEMENT ON THE BASIS OF ASSUMPTIONS  MADE BY MANAGEMENT
AND CONSIDERED BY MANAGEMENT TO BE REASONABLE.  THE COMPANY'S  FUTURE  OPERATING
RESULTS, HOWEVER, ARE IMPOSSIBLE TO PREDICT AND NO REPRESENTATION,  GUARANTY, OR
WARRANTY IS TO BE INFERRED FROM THOSE FORWARD-LOOKING STATEMENTS.

THE ASSUMPTIONS USED FOR PURPOSES OF THE  FORWARD-LOOKING  STATEMENTS  REPRESENT
ESTIMATES OF FUTURE EVENTS AND ARE SUBJECT TO UNCERTAINTY AS TO POSSIBLE CHANGES
IN ECONOMIC,  LEGISLATIVE,  INDUSTRY, AND OTHER CIRCUMSTANCES.  AS A RESULT, THE
IDENTIFICATION AND INTERPRETATION OF DATA AND OTHER INFORMATION AND THEIR USE IN
DEVELOPING  AND SELECTING  ASSUMPTIONS  FROM AND AMONG  REASONABLE  ALTERNATIVES
REQUIRE THE EXERCISE OF JUDGMENT.  TO THE EXTENT THAT THE ASSUMED  EVENTS DO NOT
OCCUR, THE OUTCOME MAY VARY SUBSTANTIALLY FROM ANTICIPATED OR PROJECTED RESULTS,
AND,  ACCORDINGLY,  NO  OPINION  IS  EXPRESSED  ON THE  ACHIEVABILITY  OF  THOSE
FORWARD-LOOKING   STATEMENTS.  NO  ASSURANCE  CAN  BE  GIVEN  THAT  ANY  OF  THE
ASSUMPTIONS RELATING TO THE FORWARD-LOOKING  STATEMENTS SPECIFIED IN THIS REPORT
ARE  ACCURATE,   AND  MANAGEMENT  ASSUMES  NO  OBLIGATION  TO  UPDATE  ANY  SUCH
FORWARD-LOOKING STATEMENTS.

The Development
---------------

L.O.M.   Medical   International  Inc.   ("L.O.M.")  or  the  ("Company"),   was
incorporated in the State of Delaware on March 17, 1997. The Company's executive
offices are located at #3-1482 Springfield Road, Kelowna, B.C., Canada, V1Y 5V3.
The Company's telephone number is 250.762.7552.

For purposes of  clarification,  all dollar amounts  specified in this Quarterly
Report on Form  10-QSB are in the  currency  of the United  States.  Anytime the
symbol "CDN" is used, it refers to the currency of Canada.

The Business
------------

L.O.M.  was  incorporated  for the purpose of researching and developing  health
care  products.  The Company's  goal is to become an innovator and provider of a
retractable  syringe  ("Syringe") and related  products and  technologies to the
health care market.  L.O.M. has successfully  patented and licensed  products in
the United States and under the Patent  Cooperation Treaty has filed for patents
in over 65 countries. The Company plans to develop new and improved products and
provide the health care  industry with better,  safer  products  throughout  the
world.

The Retractable Syringe
-----------------------

Management  believes the Syringe will change standard  disposal methods for used
syringes.  The Syringe has been  developed to function as a standard  hypodermic
syringe,  which  management  believes is safer to the  caregiver  or health care
worker.  Management  believes that the Syringe's unique design will allow health
care providers to avoid direct contact with used needles. The Syringe is covered
by United States Patent No. 5,868,713, dated February 9, 1999.




                                       18
<PAGE>




Once the needle of the  Syringe is  injected,  the user  simply has to press the
plunger  top gently  with his or her thumb to  automatically  retract the needle
into its own  sealed  chamber  where it  remains  locked in place and  cannot be
reused.  Unlike other safety syringes,  the plunger remains inside the barrel of
the syringe and requires no hand  manipulation.  Management plans to produce the
Syringe in standard industry sizes from 1cc to 20cc.

Management  intends to  promote  the  Syringe as a safer and less  risk-oriented
instrument for hospital staff and health care workers. The Company is optimistic
that  doctors,  nurses,  and  other  health  care  workers  will  recognize  and
appreciate  the  safety   features  of  the  Syringe  because  of  its  ease  of
"use-and-disposal"  and  its  unique  "contaminate-prevention"  characteristics.
L.O.M. has no contracts to sell the Syringe and there are no guarantees that any
such contracts will be entered into.

It is anticipated that the products and technologies  that L.O.M.  develops will
be offered to distributors  on a worldwide  basis,  with an initial  emphasis in
Canada and the United States.

Management  interacts with a network of scientific advisors within the industry,
including members of academic institutions,  as well as potential customers.  At
this time,  relationships with scientific advisors and academic institutions are
limited to advisory relationships.  The Company has no contracts for testing the
Syringe  with  teaching  universities  and  there is a risk  that  such  testing
arrangements may not occur.

L.O.M.  engineering  personnel are continuing  the  additional  patenting of the
L.O.M. retractable syringe to ensure that patents correctly protect every detail
pertaining to the Syringe.  Detailed  patenting will also include the retraction
technology  and any  other  medical  device  that  incorporates  the  retraction
technology.

Additional  testing  and  refining  of the 3cc  syringe  have led to  additional
enhancements to the Syringe. These enhancements have led to the reduction of the
length,  and the reduced complexity of the various parts.  Initially,  this task
was to eliminate any dead space in the Syringe.  This proved to be successful as
well as enhanced  performance  of the  retraction  process.  It also  simplifies
manufacturing and reduces  production costs. The Syringe now has the same length
and diameter as a conventional syringe,  which is a desirable marketing feature.
The production molds will be modified for these size changes. The designs of the
..5cc, 1cc, 1.5cc, 5cc and the 10cc are ready for  prototyping.  The final design
enhancements  of the 3cc  syringe  have been  incorporated  into the 1cc design.
Since the 1cc is considerably  smaller than the 3cc,  engineering and production
tolerances are much tighter. The additional engineering during computer modeling
of component  sizing should ensure that the 1cc syringe  performs as well as the
3cc. The extensive  designs of the syringe  components  have utilized the shared
parts between all sizes and combined the number of parts on a single unit, which
should minimize overall production costs.

The  Company has  completed  design  plans for an  assembly  line to produce the
Syringe in  commercial  quantities.  Management  and third  party  manufacturing
companies have developed the plan. The safety syringes  assembly system features
high-speed  flexible  assembly and packaging  technology.  High cavitation molds
have been designed and quoted.  These molds will produce the required  volume of
parts to accommodate the assembly  machines.  The Company is also  investigating
injector moulding machines,  sterilization units,  packaging equipment and other
components that comprise the planned assembly line. Development of such plans is
contingent upon the availability of funding.  There can be no assurance that the
Company will be able to access  sufficient  or suitable  funding to complete its
plans.

L.O.M. is not producing commercial quantities of products or currently supplying
any services to third parties.  No assurance can be given that the Company will,
on  a  timely  basis,  be  able  to   successfully   make  the  transition  from
manufacturing  testing  quantities  of  the  Syringe  to  commercial  production
quantities or be able to arrange for contract manufacturing.

Management anticipates subcontracting the first two or three years of commercial
production  of the Syringe  during which  studies will be undertaken to evaluate
the potential for the construction of L.O.M.'s own production facility.




                                       19
<PAGE>




On  November  6,  2003,  Frost & Sullivan  presented  its 2003  Medical  Devices
Industry  Innovation  &  Advancement  of  the  Year  Award  to  L.O.M.   Medical
International Inc. Frost & Sullivan presents this award to L.O.M. for pioneering
the Gas Cell technology for retractable syringes.

On December 3, 2003, ISIPS, the International  Sharps Injury Prevention Society,
presented  a  Sharps  Injury   Prevention   Honorable   Mention  Award  to  John
Klippenstein of L.O.M.  Medical  International  Inc. The ISIPS award  recognizes
L.O.M.'s  efforts to prevent  sharps  injuries  through the  development  of the
retractable syringe.

The Blood Collection System
---------------------------

The Company has  incorporated  the retraction  technology into blood  collection
kits. The L.O.M. blood collection kit includes the holder,  retractable  needle,
gas cell, and the retraction technology.  The Company has also designed a winged
blood  collection   retractable   needle.  The  L.O.M.  blood  collection  tubes
complement both of these systems.

By utilizing  either of these two systems,  the user is able to deliver  patient
care and reduce  risks to their  personal  safety.  The use of the L.O.M.  blood
collection  system  requires  very  little  training  as it looks and feels like
conventional systems and only requires the retraction technology to be activated
after  the  collection  is  complete.  In  both  systems,  the  needle  retracts
completely  into  the unit  and is  locked  while  the  user is  protected  from
potential needle stick injuries.

Patents for the L.O.M.  blood  collection  kits are currently  being filed.  The
Company expects to commence the prototyping phase shortly.

The Eye Care System
-------------------

L.O.M. invented and developed an insertion and storage device for contact lenses
(the "Eye Care  System"),  which is a method of handling and  inserting  contact
lenses.

The Company has produced 33,000 units of the Eye Care System, which will be used
for  demonstrations.  As such,  Management has not inventoried the units and has
expensed them in the financial statements. L.O.M. has the ability to subcontract
out the production of commercial quantities of the eye care products but at this
time no market has developed.

L.O.M.  has FDA  approval to market its line of eye care  products in the United
States and for the necessary  Canadian  approval to market eye-care  products in
Canada.  Management is reviewing  various contracts with third parties to market
the Eye Care System in Canada and the United States.

Management  plans to focus its  activities  over the next  twelve  months on the
production and introduction of the Syringe.  When that is finalized,  management
will implement the marketing plan for the Eye Care System products.

Genetic Patents
---------------

Management  is  negotiating  licensing  agreements  with the  owners of  various
patents on genetic vectors. As of May 31, 2003, the Company had advanced $54,680
to the patent owners. Given the uncertainty  regarding the future recoverability
of these advances they were written off in the Company's 2002 financial year.

Business of the Company's Subsidiary
------------------------------------

There has been no activity in the subsidiary  this quarter.  For the foreseeable
future the subsidiary will be inactive.





                                       20
<PAGE>




Future Capital Requirements
---------------------------

The Company  requires  additional  cash to implement  its  business  strategies,
including  cash for  payment of  operating  expenses  and  discharging  existing
obligations  and  commitments.  No assurance can be given that L.O.M.  will have
access to the capital markets in the future, or that financing will be available
on  acceptable  terms to satisfy cash  requirements  necessary to implement  the
business  strategies.  The  inability  to access the  capital  markets or obtain
acceptable  financing  would have a  material  adverse  effect on the  Company's
results of operations and financial condition.

The  Company's  forecast  of the  period  of time  during  which  its  financial
resources will be adequate to support operations is a forward-looking  statement
that involves risks and uncertainties, and actual results could vary as a result
of a number of factors.

The Company will have to raise additional capital or shareholder advances during
the next three months in order to develop,  promote,  produce and distribute the
proposed  products  as well as satisfy  existing  obligations.  Such  additional
capital may be raised through additional public or private  financings,  as well
as borrowings  and other  resources.  To the extent that  additional  capital is
raised through the sale of equity or equity-related  securities, the issuance of
such securities could result in dilution of the stockholders.

There can be no assurance that additional funding will be available on favorable
terms,  if at all. If  adequate  funds are not  available  within the next three
months, L.O.M. will be required to curtail operations significantly or to obtain
funds through entering into arrangements with  collaborative  partners or others
that may require the Company to relinquish  rights of certain  products that the
Company would not otherwise relinquish.

The  management's  report  on  the  February  29,  2004  consolidated  financial
statements  includes a paragraph  explaining  that the Company has  generated no
revenues,  has a working  capital  deficiency  and  accumulated  a deficit since
inception of $5,619,061 which are factors,  among others, that raise substantial
doubt about the Company's ability to continue as a going concern.  The financial
statements do not include any adjustments  that might result from the outcome of
this uncertainty.

Business Risks
--------------

L.O.M. is exposed to a variety of business risks,  some of which are inherent to
all  competitive  commercial  enterprises,  and others that are  specific to the
medical  products  industry.  Management  will continue to endeavor to limit all
specific risk factors by utilizing operating and financial strategies.

Financial Risks
---------------

The Company's  business plans are  aggressive in nature.  Expansion will consume
valuable  working  capital  and  result  in  significant  demand  for cash  from
operations  during  the next few  quarters.  Management  expects  that  existing
capital resources and contributions  from profits will not be sufficient to fund
business plans as represented  without receiving  additional funds from external
sources.

Business Cycles and Risks of Cost Overruns
------------------------------------------

The sale of the Company's products and implementation its business plans require
reasonable  market  acceptance.  Failure to secure  reasonable market acceptance
would have adverse effects on the Company's business,  results of operations and
its financial condition.

Fluctuations in Financial Results
---------------------------------

The Company's operating results will fluctuate, depending on factors such as the
demand  for  products,  the size and  timing  of  contracts,  new  products  and
enhancements, price competition, changes in operating expenses and personnel and
general  economic  factors.   Therefore,   actual  financial  results  may  vary
significantly from those projected.




                                       21
<PAGE>




Third-Party Claims for Infringement
-----------------------------------

Management  is not aware  that any of the  Company's  products  infringe  on the
proprietary rights of third parties.  There can be no assurance,  however,  that
third  parties  will not claim  such  infringements  with  respect to current or
future  products.  Any  such  claims,  with  or  without  merit,  could  be time
consuming, result in costly litigation, or cause product development or shipment
delays.  Any of the  foregoing  would  have  adverse  affects  on the  Company's
business, results or financial condition.

Dependence of Single Product Line
---------------------------------

Concentrations of sales in a single product line for the medical health industry
represents a substantial risk,  should market conditions  deteriorate or product
acceptance not be realized.

Foreign Currency
----------------

L.O.M.'s  business plans are primarily focused on sales within the United States
and subsequently to worldwide markets;  therefore, L.O.M. will be subject to the
risk of foreign currency fluctuations.

Competition and Sales Channels
------------------------------

Several  companies compete with L.O.M. in the syringe market and there are a few
competitors in the safety syringe market.  Most  competitors  are  substantially
larger and possess greater financial resources than the Company. L.O.M.'s future
success relies on delivering a superior product.  There can be no assurance that
competitors will not develop products  superior to L.O.M.'s  products or achieve
greater market acceptance due to marketing, sales channels or other factors.

Dependence on Large Distributors
--------------------------------

L.O.M.  will rely in part on business partners for the distribution of products.
This includes a few large  distributors in the United States. The Company may be
adversely  affected by negative  business cycles or events  experienced by these
distributors.  Such events  would  result in a short or long term  reduction  in
revenue.

Human Resource Risks and Growth
-------------------------------

The  Company's  success  is  largely  dependent  on the  performance  of its key
employees.  Failure to attract and retain key employees  with  necessary  skills
could  have  an  adverse  impact  upon  growth  and  profitability.   Management
anticipates  that business will  increase  rapidly  during the next three years.
This increase will result in substantial growth in the number of employees,  the
scope of operating and financial  systems and the geographic  area of operations
resulting in increased  responsibilities  for both  existing and new  management
personnel.  The ability to support  the  projected  growth of  business  will be
dependent  upon having highly  trained  personnel in place to conduct  pre-sales
activities,  product implementation and other customer support services.  Future
operating  results will depend on the ability of key  managers and  employees to
continue to implement and improve  operational,  customer  support and financial
systems.  There can be no assurance  that the Company will be able to manage any
future expansion successfully.  If possible future expansion is not successfully
managed the results of  operations  and financial  condition  would be adversely
affected.










                                       22
<PAGE>




Production and Quality Control
------------------------------

The manufacturing of products involves a number of steps and requires compliance
with stringent quality control specifications imposed by various regulators. The
Company may not be able to replace manufacturing capacity quickly if its use was
restricted  as a result  of a fire,  natural  disaster  (including  earthquake),
equipment  failure or other  difficulty,  or if such  facilities  are deemed not
compliant with various regulators'  requirements and non-compliance could not be
quickly  rectified.  The inability or reduced  capacity to  manufacture  or have
manufactured  any of L.O.M.'s  products would have a material  adverse effect on
the business and results of operations.

Government Standards and Regulations
------------------------------------

The Company's products will be subject to numerous foreign government  standards
and  regulations  that are  continually  being  amended.  Although  L.O.M.  will
endeavor to satisfy foreign technical and regulatory standards,  there can be no
assurance  that the  Company's  products  will  comply with  foreign  government
standards and regulations, or changes thereto, or that it will be cost effective
to redesign  products to comply with such  standards  or  regulations.  L.O.M.'s
inability to design or redesign  products to comply with foreign standards would
have a material adverse effect on the Company's  business,  financial  condition
and results of operations.

Product Liability Risk
----------------------

The Company's  business will expose it to potential product liability risks that
are inherent in the testing,  manufacturing,  and marketing of medical products.
The  Company  does not have  product  liability  insurance,  and there can be no
assurance  that it  will  be  able to  obtain  or  maintain  such  insurance  on
acceptable  terms or, if obtained,  that such  insurance  will provide  adequate
coverage against potential liabilities.

The Company faces an inherent business risk of exposure to product liability and
other  claims,  in the event that the  development  or use of its  technology or
products is alleged to have resulted in adverse  effects.  That risk exists even
with respect to those products that are  manufactured  in licensed and regulated
facilities or that otherwise  possess  regulatory  approval for commercial sale.
There can be no  assurance  that the  Company  will  avoid  significant  product
liability  exposure.  There can be no assurance that insurance will be available
in the  future  on  commercially  reasonable  terms,  or at all,  or  that  such
insurance will be adequate to pay potential  product  liability claims or that a
loss of insurance or the assertion of a product  liability claim or claims would
not materially adversely affect the business, financial condition and results of
operations.

Although  L.O.M.  has taken,  and will  continue to take,  what it believes  are
appropriate  precautions,  there can be no assurance that the Company will avoid
significant  liability  exposure.  An  inability  to  obtain  product  liability
insurance at acceptable cost or to otherwise  protect against  potential product
liability  claims could prevent or inhibit the  commercialization  the Company's
products.  A product liability claim would have a material adverse effect on the
Company's business, financial condition and results of operations.

Liquidity and Capital Resources
-------------------------------

Management  believes it has raised  enough  capital to allow the Company to meet
its financial  obligations  for a period of at least one month from February 29,
2004,  not including the current  obligations,  aggregating  $149,763  under the
British Columbia Security Commission  rescission offer.  However, this one-month
forecast is a forward-looking  statement that involves risks and  uncertainties.
Actual results could differ  significantly as a result of these uncertainties as
the forecast assumes on-going support from creditors,  including the obligations
under the rescission offer, and shareholders.

The Company had cash  resources of $3,595 at February 29, 2004. At May 31, 2003,
the Company had cash  resources of $7,642.  On February 29, 2004,  total current
assets of were  $82,647  and  total  current  liabilities  were  $1,076,573.  At
February 29, 2004,  total current  liabilities  exceeded total current assets by
$993,926.  At May 31, 2003,  total current assets were $98,859 and total current
liabilities were $563,323.  At May 31, 2003, total current liabilities  exceeded
total  current  assets by  $464,464.  Cash  constitutes  the  Company's  current



                                       23
<PAGE>




internal  sources of liquidity.  Because  L.O.M.  is not generating any revenues
from  the  sale or  licensing  of its  products,  the only  external  source  of
liquidity is the sale of the Company's  capital stock or continued  support from
shareholder advances.

Management's plans include creating  profitable  operations from future sales of
the retractable  syringe as well as additional  funding from stockholders in the
form of additional share  subscriptions  or advances.  There can be no assurance
that a market will develop for the retractable  syringe or that additional share
financings  or advances  will be  available or legally  permissible.  Failure to
obtain adequate financing will cause the Company to curtail operations.

Critical Accounting Policies
----------------------------

The Company's  discussion and analysis of its financial condition and results of
operations,  including the  discussion on liquidity and capital  resources,  are
based upon the  Company's  financial  statements,  which have been  prepared  in
accordance with accounting  principles  generally accepted in the United States.
The  preparation  of these  financial  statements  requires  the Company to make
estimates and judgments that affect the reported amounts of assets, liabilities,
revenues  and  expenses,   and  related  disclosure  of  contingent  assets  and
liabilities.  On an ongoing  basis,  management  re-evaluates  its estimates and
judgments.  Actual results could differ from the estimates. The Company believes
the following critical accounting policy requires more significant  judgment and
estimates used in the preparation of the consolidated financial statements.

The  consolidated  financial  statements have been prepared on the going concern
basis, which assumes the realization of assets and liquidation of liabilities in
the normal course of operations.  If the Company were not to continue as a going
concern,  it  would  likely  not be able to  realize  on its  assets  at  values
comparable to the carrying  value or the fair value  estimates  reflected in the
balances set out in the preparation of the consolidated financial statements. As
described  elsewhere  in this  report,  at  February  29, 2004 there are certain
conditions that currently exist which raise substantial doubt about the validity
of this assumption.  While the Company  anticipates  raising  additional funding
through  future  profitable  operations,  the  sale of share  subscriptions  and
shareholder  advances  to remove  the  substantial  doubt,  these  funds are not
assured.  Failure to raise additional funds may result in the Company curtailing
operations or writing  assets and  liabilities  down to liquidation  values,  or
both.

Results of Operations
---------------------

The Company has not realized any revenues from  operations.  The loss from March
17, 1997  (inception)  to February 29, 2004,  was  $5,619,061.  The loss for the
9-month  period  ended  February 29,  2004,  was $637,555  compared to a loss of
$721,331  for the 9-month  period  ended  February  28,  2003.  Such losses were
primarily the result of product development and operating expenditures.

During the  9-month  period  ending  February  29,  2004,  the  Company has paid
$181,921 with regards to developing the Syringe and the Blood Collection  units,
compared to $75,556  incurred  during the 9-months ending February 28, 2003. The
increase  compared  to the prior  comparable  period  is a result  of  increased
expenditures required to develop the pre-production syringe samples. General and
administrative  expenses  for the 9-month  period  ending  February 29, 2004 was
$455,637,  compared to $646,342 incurred during the 9-months ending February 28,
2003.  The  decrease  compared  to the  prior  comparable  period is a result of
closing the office located at 580 - 885 Dunsmuir St., Vancouver, BC.














                                       24
<PAGE>




Item 3.  Controls and Procedures
--------------------------------

The Company  maintains  disclosure  controls and procedures that are designed to
ensure that information  required to be disclosed in the Company's reports filed
pursuant to the  Securities  Exchange Act of 1934 are recorded,  processed,  and
summarized and reported within the time periods specified in the rules and forms
promulgated  under  such  Act,  and that such  information  is  accumulated  and
communicated to the Company's management,  including the Chief Executive Officer
and Chief Financial Officer, as appropriate, to allow timely decisions regarding
required disclosure.

Within  the 90 days  prior  to the  date of this  report,  the  Company's  Chief
Executive Officer and Chief Financial  Officer,  with the participation of other
members of  management,  carried out an evaluation of the  effectiveness  of the
design  and  operation  of the  Company's  disclosure  controls  and  procedures
pursuant to Exchange  Act Rule 13a-14 of the  Securities  Exchange  Act of 1934.
Based upon that  evaluation,  the Chief  Executive  Officer and Chief  Financial
Officer  concluded that the disclosure  controls and procedures are effective in
connection  with the  filing of this  Quarterly  Report on Form  10-QSB  for the
quarter ended February 29, 2004.

There were no significant changes in the Company's internal controls or in other
factors that could significantly affect these controls subsequent to the date of
the most recent evaluation,  including any significant deficiencies and material
weaknesses of internal controls that would require corrective action.








































                                       25
<PAGE>




                                     Part II
                                     -------


Item 1.  Legal Proceedings
--------------------------

Litigation Involving the Company's Subsidiary.
----------------------------------------------

None.

British Columbia Securities Commission.
---------------------------------------

During the year ended May 31,  2002,  the Company  engaged in  discussions  with
staff of the British Columbia Securities  Commission (the "BCSC") concerning the
distribution  of the  Company's  common  stock to certain  residents  of British
Columbia.  Staff of the BCSC took the position that the  distribution of certain
shares may not have, in all  circumstances,  satisfied the prospectus  exemption
requirements  under the Securities Act (British  Columbia).  In order to resolve
the  concerns  of staff of the  BCSC,  the  Company  agreed  to make an offer of
rescission (the  "Rescission  Offer") to purchasers of its common stock residing
in British  Columbia.  Stockholders  who acquired  99,933 common shares from the
Company for aggregate  proceeds of $263,573 exercised their right of rescission.
As of February  29, 2004,  the Company has repaid  $47,851 of the  $263,573.  In
addition,  as of  February  29,  2004,  34,500  shares were  retracted  from the
rescission offer by the original purchaser, resulting in a decrease in liability
of $65,958.  These  shares were  returned to the  shareholder  and removed  from
treasury  stock.  The  remaining  payable  balance of  $149,764  is  included in
accounts payable and accrued liabilities on the consolidated  balance sheet. The
Company does not have sufficient funds to repay this liability at this time.

As of February 29, 2004, six shareholders, not entitled to the rescission offer,
holding 6,236 common shares with a cost of $17,416,  requested  that the Company
accept the return of their shares. The Company accepted the return of the shares
and repaid the original  subscription price of $1,000 to one shareholder and has
recorded a  liability  of $16,416,  which is  included  in accounts  payable and
accrued liabilities for the remaining five shareholders. All of these shares are
held as treasury stock as at February 29, 2004.

The BCSC has held a hearing on April 5, 2004 to  determine  whether it is in the
public  interest  to  make  orders  under  the  Act  against  L.O.M.   and  John
Klippenstein.  Possible  implications  of the  hearing,  if the ruling is not in
favour of John  Klippenstein and the Company,  include Mr.  Klippenstein and the
Company  being  banned  from  trading   securities  in  British  Columbia,   Mr.
Klippenstein being banned from engaging in investor relations activities and the
payment of penalties,  fines and the costs of the hearing.  The outcome of these
matters cannot be determined at this time.

There are no other security issues pending against the Company.


Item 2.  Changes in Securities
------------------------------

Warrants.
---------

The Company  has offered to all  shareholders  of record at June 30,  2001,  one
warrant for every 2 shares held by each  shareholder.  Each warrant entitles the
holder of such warrant to purchase one share of the  Company's  common stock for
$5.00 per  share.  Each  warrant  expires  90 days  after the first  transaction
regarding the Company's common stock on a public market.

Stock Options.
--------------

The Board of Directors  adopted a stock option plan ("Stock Option  Plan").  The
Stock  Option Plan is  designed  to retain  qualified  and  competent  officers,
employees and directors of the Company.  The Board of Directors,  or a committee
thereof,  shall administer the Stock Option Plan and is authorized,  in its sole
and absolute  discretion,  to grant options to all eligible employees,  officers
and directors.  During the year ended May 31, 2001,  340,417 and during the nine
month period ended  February 28,  2003,  359,833  stock  options were granted in



                                       26
<PAGE>




accordance  with the Stock Option  Plan.  Under SFAS 123,  compensation  cost of
$486,719 has been recorded for those options  issued to  consultants to February
29, 2004.  Options granted pursuant to the Stock Option Plan will be exercisable
within the period specified in the respective stock option  agreements.  Options
granted under the Stock Option Plan will not be exercisable after the expiration
of ten (10) years from the date of grant for shareholders.

Share Issuances.
----------------

None.


Item 3.  Default Upon Senior Securities
---------------------------------------

None.


Item 4.  Submission of Matters to Vote of Security Holders
----------------------------------------------------------

None.


Item 5.  Other Information
--------------------------

This  quarterly  reporting,  including  consolidated  financial  statements  for
February 29, 2004 and the  management's  report,  have not been  reviewed by the
auditors' of the Company.


Item 6.  Exhibits and Reports on Form 8-K
-----------------------------------------

Effective January 20, 2004, Mr. Anthony Hawkshaw succeeded Mr. John Klippenstein
as President of L.O.M. Medical  International Inc. On February 6, 2004, L.O.M.'s
Board of Directors appointed Mr. Patrick D'hondt as a Director.  Effective March
5, 2004, Mr. Anthony Hawkshaw succeeded Mr. John Klippenstein as Chief Executive
Officer of L.O.M.  Medical  International Inc. Effective March 5, 2004, Mr. John
Klippenstein  resigned  as a member  of the  Board of  Directors  and the  Chief
Executive Officer of L.O.M. Medical  International Inc. Effective March 12, 2004
Mrs. Maria Klippenstein resigned as a member of the Board of Directors of L.O.M.
Medical  International  Inc.  Effective  March 15,  2004,  Mr.  Darren  McGregor
resigned as a member of the Board of Directors of L.O.M.  Medical  International
Inc.  Effective March 15, 2004 Mr. Patrick  D'hondt  resigned as a member of the
Board of Directors of L.O.M. Medical International Inc.

























                                       27
<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.

Dated:   April 14, 2004                     L.O.M. Medical International, Inc.


                                            By:   /s/ Anthony Hawkshaw
                                                  ------------------------------
                                                  Anthony Hawkshaw
                                            Its:  President & C.E.O.


                                            By:   /s/ Tanya Sedlacek
                                                  ------------------------------
                                                  Tanya Sedlacek
                                            Its:  Chief Financial Officer









































                                       28