UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB

[X]     Quarterly  Report  pursuant  to  Section  13  or 15(d) of the Securities
Exchange  Act  of  1934

For  the  quarterly  period  ended  MARCH  31,  2003

[ ]     Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act
        of  1934

        For  the  transition  period  from  __________  to  __________

        Commission  File  Number  0-32905

                        AMANASU TECHNOLOGIES CORPORATION
                        --------------------------------
        (Exact name of Small Business Issuer as specified in its charter)
NEVADA                                                          98 - 0351508
------                                                          ------------
(State or other jurisdiction of incorporation) (IRS Employer Identification No.)


                 701 FIFTH AVENUE, 36TH FLOOR, SEATTLE, WA 98109
                 -----------------------------------------------
                    (Address of principal executive offices)
                    ----------------------------------------

                                  206-262-8188
                                  ------------
                           (Issuer's telephone number)
                           ---------------------------

        _________________________________________________________________
     (Former name, former address and former fiscal year if changed since last
                                     report)


State the number of shares outstanding of each of the issuer's classes of common
equity,  as  of the latest practicable date:   46,436,400 SHARES OF COMMON STOCK
ISSUED  AND  OUTSTANDING  AS  OF  MAY  13,  2003.

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

                                        1
<PAGE>

PART  I  FINANCIAL  INFORMATION

ITEM  1.          FINANCIAL  STATEMENTS

GENERAL

The  Company's  unaudited  financial statements for the three months ended March
31,  2003 are included with this Form 10-QSB. The unaudited financial statements
have  been  prepared  in  accordance  with  the instructions to Form 10-QSB and,
therefore, do not include all information and footnotes necessary for a complete
presentation  of  financial  position,  results  of  operations, cash flows, and
stockholders'  equity  in  conformity  with  generally  accepted  accounting
principles.  In  the opinion of management, all adjustments considered necessary
for a fair presentation of the results of operations and financial position have
been  included  and  all  such  adjustments  are  of  a normal recurring nature.
Operating  results for the three months ended March 31, 2003 are not necessarily
indicative  of  the  results  that  can  be  expected for the fiscal year ending
December  31,  2003.

                                        2
<PAGE>

                        AMANASU TECHNOLOGIES CORPORATION
                          (A Development Stage Company)
                              FINANCIAL STATEMENTS
                                 MARCH 31, 2003
                                   (UNAUDITED)

                                        3
<PAGE>

                        AMANASU TECHNOLOGIES CORPORATION
                          (A Development Stage Company)
                              FINANCIAL STATEMENTS
                                 MARCH 31, 2003
                                   (Unaudited)








                                 C O N T E N T S



                                                       Page
                                                       ----

Balance  Sheets                                           1

Statements  of  Operations  and  Deficit  Accumulated
   During  Development  Stage                             2

Statements  of  Cash  Flows                               3

Notes  to  Financial  Statements                          4

                                        4
<PAGE>

                        AMANASU TECHNOLOGIES CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                                 BALANCE SHEETS
                                   (UNAUDITED)

<TABLE>
<CAPTION>


                                                          March 31,  DECEMBER 31,
                                                            2003           2002
                                                          (Unaudited)   (Audited)
                                                         ------------  ----------
ASSETS
-------
<S>                                                             <C>           <C>

Current Assets:
    Cash                                                  $    86,496   $ 208,901
                                                          ------------  ----------
             Total current assets                              86,496     208,901

Fixed Assets:
    Automobile                                                  1,500       1,500
        Less accumulated depreciation                             217          75
                                                          ------------  ----------
             Net fixed assets                                   1,283       1,425
                                                          ------------  ----------

Other Assets:
    Licensing agreement                                       160,000     160,000
                                                          ------------  ----------
        Less accumulated amortization                          21,177      18,824
                                                          ------------  ----------
             Total other assets                               138,823     141,176
                                                          ------------  ----------

Total Assets                                              $   226,602   $ 351,502
                                                          ============  ==========

LIABILITIES AND STOCKHOLDERS' EQUITY
------------------------------------

Current Liabilities:
    Amount due for licensing agreement                    $    60,000   $  60,000
    Shareholder deposits for capital stock                          -      70,000
                                                          ------------  ----------
             Total current liabilities                         60,000     130,000
                                                          ------------  ----------
Stockholders' Equity:
Common Stock: authorized 100,000,000 shares of
    $.001 par value; issued and outstanding - 46,656,400
    and 46,436,400 respectively                                46,656      46,436
Additional paid-in capital                                    490,744     405,964
Deficit accumulated during development stage                 (370,798)   (230,898)
                                                          ------------  ----------
             Total stockholders' equity                       166,602     221,502
                                                          ------------  ----------
Total Liabilities and Stockholders' Equity                $   226,602   $ 351,502
                                                          ============  ==========
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                        5
<PAGE>

                        AMANASU TECHNOLOGIES CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                      STATEMENTS OF OPERATIONS AND DEFICIT
                      ACCUMULATED DURING DEVELOPMENT STAGE
                                   (UNAUDITED)

<TABLE>
<CAPTION>


                                                                    DECEMBER 1, 1997
                               Quarters Ended March 31,          (Date of Inception)
                                    2003       2002                To March 31, 2003
                               ---------  -----------              -----------------
<S>                                 <C>         <C>                    <C>
Revenue:
    Interest income           $     265    $    418                $      3,126
Expenses                        140,165      20,771                     373,924
                               ---------  ----------                   ---------
Loss accumulated
during development stage      $ (139,900)  $(20,353)                  $(370,798)
                               =========  ==========                   =========
Loss Per Share -
Basic and Diluted             $    -       $   -
                               =========  ===========
Average shares
    outstanding               46,573,066   46,392,650
                               =========  ===========
</TABLE>

  These accompanying notes are an integral part of these financial statements.

                                        6
<PAGE>

                        AMANASU TECHNOLOGIES CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

<TABLE>
<CAPTION>


                                                              DECEMBER 1, 1997
                                 Quarters Ended March 31,     (Date of Inception)
                                   2003         2002           To March 31, 2003
                                -----------  -----------        -----------------
<S>                                   <C>          <C>                  <C>
CASH FLOWS FROM OPERATIONS:
Net loss                       $   (139,900)  $  (20,353)  $         (370,798)
Changes not requiring the outlay of cash:

Depreciation and amortization          2,495        2,353               21,394
Services provided for common stock    15,000            -               21,300
                                  -----------     ------------    ----------------
NET CASH CONSUMED BY
Operating Activities                (122,405)      (18,000)           (328,104)
                                  -----------     ------------    -----------------

CASH FLOWS FROM INVESTING
ACTIVITIES:
Purchase of automobile                 -              -                 (1,500)
Partial payment of amount due for
licensing agreement                    -          (100,000)           (100,000)
                                -----------     ------------     -----------------
NET CASH CONSUMED BY
INVESTING ACTIVITIES                   -          (100,000)           (101,500)
                                -----------     ------------     -----------------

CASH FLOWS FROM FINANCING
ACTIVITIES:
Issuances of common stock              -            10,000              516,100
                                -----------     ------------     -----------------
Net Cash Provided By
FINANCING ACTIVITIES                   -            10,000              516,100
                                -----------     ------------     -----------------

Net Change In Cash                 (122,405)      (108,000)              86,496
Cash balance, beginning of period   208,901        416,053                 -
                                -----------     ------------     -----------------
Cash balance, end of period      $   86,496      $ 308,053          $    86,496
                                ===========     ===========      =================
</TABLE>

  These accompanying notes are an integral part of these financial statements.

                                        7
<PAGE>


                        AMANASU TECHNOLOGIES CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                 MARCH 31, 2003
                                   (UNAUDITED)




1.     BASIS  OF  PRESENTATION

The  unaudited  interim financial statements of Amanasu Technologies Corporation
("the Company") as of March 31, 2003 and for the three month periods ended March
31,  2003  and  2002,  have  been prepared in accordance with generally accepted
accounting  principles.  In the opinion of management, such information contains
all  adjustments, consisting only of normal recurring adjustments, necessary for
a  fair  presentation of the results for such periods. The results of operations
for  the  quarter  ended  March  31,  2003 are not necessarily indicative of the
results  to  be  expected  for  the  full  fiscal year ending December 31, 2003.

Certain  information and disclosures normally included in the notes to financial
statements  have  been  condensed  or  omitted  as  permitted  by  the rules and
regulations  of  the  Securities  and  Exchange Commission, although the Company
believes  the  disclosure  is  adequate  to  make  the information presented not
misleading.  The  accompanying  unaudited financial statements should be read in
conjunction  with  the  financial  statements  of the Company for the year ended
December  31,  2002.






                                        8
<PAGE>

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

Forward  Looking  Statements
----------------------------

This  report  on  Form 10-QSB contains certain forward-looking statements within
the  meaning  of section 21e of the Securities Exchange Act of 1934, as amended,
and  other  applicable  securities laws. All statements other than statements of
historical  fact  are  "forward-looking  statements"  for  purposes  of  these
provisions,  including any projections of earnings, revenues, or other financial
items; any statements of the plans, strategies, and objectives of management for
future  operation; any statements concerning proposed new products, services, or
developments;  any  statements  regarding  future  economic  conditions  or
performance;  statements  of belief; and any statement of assumptions underlying
any  of  the  foregoing. Such forward-looking statements are subject to inherent
risks  and  uncertainties, and actual results could differ materially from those
anticipated  by  the  forward-looking  statements.

The  following  discussion  should  be  read  in  conjunction with the Company's
Financial  Statements,  including the Notes thereto, appearing elsewhere in this
Quarterly  Report and in the Annual Report for the year ended December 31, 2002.

COMPANY  OVERVIEW

The  Company  was  organized December 1, 1997.  Its operations to date have been
limited  to  obtaining  the  exclusive,  worldwide  rights  to a high efficiency
electrical  motor  and  a  high  powered magnet.  The Company intends to use the
technologies  to  produce  a lightweight, electrical motor scooter to compete in
the  emerging,  light  electric  vehicle  industry.  The  Company  intends  to
manufacture  and  sell the motor scooter to its initial target markets of Japan,
Taiwan  and  China,  and  Korea.


PLAN  OF  OPERATIONS

The  Company  is  a  development  stage  corporation.  It  has not commenced its
planned  operations  of  manufacturing  and  selling  its motor scooter product.

Effective  March  10,  2000,  we obtained the exclusive, worldwide rights to the
technologies,  subject  to  the terms of the underlying license agreement, which
was  sublicensed  from  Amanasu  Corporation.  As required under the sub-license
agreement,  we:

- issued to Amanasu Corporation 17,000,000 shares of common stock and an  option
to  acquire  20,000,000  shares  of  common  stock at $0.02 per share, which was
exercised  by  Amanasu  Corporation  in  October  2001.

-  agreed  to pay Amanasu Corporation the sum of $160,000, of which $100,000 has
been  paid  and  the  balance  is  due  on  demand.

                                        9
<PAGE>

- issued an additional 6,350,000 shares of our common stock, valued at $6,350 to
third  parties.  These  shares consisted of: 1,000,000 shares to each of Wanxuan
Lei,  Shiyang  Lei,  and  Jufang Zhang; 100,000 shares to Tokuo Goshima, 500,000
shares  to  Yamaguchi  Takashi,  and  50,000  shares  to  Machiaki  Iwasaka; and
2,700,000  shares  to  Mr.  Atsushi  Maki.

The sublicense agreement subjects the Company to the terms and conditions of the
original  license  agreement,  and  as  a  result,  we  are  required to pay the
inventors  a  royalty  of  two  percent  of  the gross receipts from the sale of
products  using the technology. The term of the sublicense agreement is 30 years
from  the  date  of  the  agreement  between  the  Amanasu  Corporation  and the
inventors.  However,  if  the  Company fails to comply with any provision of the
agreement  after  a  90-day  notice  period,  the  licensors  may  terminate the
agreement.  The  company  has valued the sublicense agreement at $160,000, which
equals  the  cash  amount  paid  by  Amanasu  Corporation  to  the  inventors.

The  Company did not issue any common stock during 2002.  The Company intends to
raise  $300,000  during  2003 through the private placement of its common stock.
The proceeds of such private placements will be used to continue the development
and  market  planning of its two products, and for other general working capital
needs.

The  Company's  activities  over  the  next twelve months will be devoted to the
establishment  of  a  distribution  network  in North America and Japan, and the
hiring  of  limited  staff  to  conduct  its  business.

The  Company  has  made  arrangements  with  a  scooter  company  in  Beijing to
manufacture  the  scooter.  We  anticipate  that  we  will  finalize  the formal
contract  during  late  2003.  The  Beijing  facility  has  the  capability  to
manufacture  20,000  to  35,000  scooters  per month under present manufacturing
conditions.  The  principal  inventor  will supply the proprietary motor magnet,
and  will  assemble  the  motor  from  the  manufactured components at his Tokyo
factory.  The  non-magnet  motor  components  will  specially  manufactured  in
accordance with Company specifications by Miyako Denki Co. and Sanwa Electronics
Co.,  both  located  Tokyo. The principal inventor also will supply the battery,
which  will be manufactured in Beijing, China. All components will be shipped to
the  sub-contract  facility  in Beijing for final assembly. The Company believes
these arrangements will be sufficient to meet the Company's production needs for
the  foreseeable  future  in its initial target markets of Japan, Taiwan, China,
Korea  and North America. The Company has not entered into any written contracts
with  providers  of  equipment  or  services  related  to the scooter. While the
Company  may  maintain  single  sources for the manufacture or supply of various
components,  other  than the motor or the magnet, it believes that other sources
for  such  components  are  available if necessary. The Company will rely solely
upon  the  inventor  for  the  manufacture of the motor and magnet, however, the
Company  has the technical know-how to manufacture these products, if necessary.
The  inventor  will supply the motor, including the magnet, and the battery at a
cost  equal  to  the actual component cost plus 10% to cover labor and overhead.
The  cost  for  all  other  components  will  be  a  fixed  price  per  item.

                                       10
<PAGE>

The  Company  has  entered  into  discussions with a number of private investors
concerning the private placement of its common stock.  At this time, however, it
has  not  received  commitments  from  any  source.  Although  the  Company  is
encouraged  by  its discussions, it cannot predict whether it will be successful
in  raising  capital,  which  capital  is  essential  to its plan of operations.

The  results  of  operations  during  the  first  quarter of 2003 were a loss of
$139,900  compared  with  a  loss  of  $20,353  in  the  comparable 2002 period.

The  Company will require a minimum of $300,000 to satisfy its cash requirements
of  the next twelve months.  If the Company is successful in raising this money,
it  will  commence  production  and marketing of units of the Amanasu furnace to
prospective  customers  in the Pacific Rim.  The Company can not predict whether
it  will  be  successful  in its capital raising efforts.  If the Company is not
successful  in  raising  $300,000,  it  may  not be able to complete its plan of
operations.


ITEM  3.      CONTROLS  AND  PROCEDURES
(a)     Evaluation  of  disclosure  controls  and  procedures.  Based  on  the
evaluation  of  the  Company's disclosure controls and procedures (as defined in
Rules 13a-14(c) and 15d-14(c) under the Securities Exchange Act of 1934) as of a
date  within 90 days of the filing date of this Quarterly Report on Form 10-QSB,
our  chief executive officer and chief financial officer have concluded that our
disclosure  controls  and procedures are designed to ensure that the information
we  are required to disclose in the reports we file or submit under the Exchange
Act  is  recorded,  processed,  summarized  and reported within the time periods
specified in the SEC's rules and forms and are operating in an effective manner.
(b)     Changes  in  internal controls. There were no significant changes in our
internal  controls  or  in  other  factors that could significantly affect these
controls  subsequent  to  the  date  of  their  most  recent  evaluation.

                                       11
<PAGE>

PART  II  -  OTHER  INFORMATION

Item  1.          Legal  Proceedings

                  NONE

Item  2.          Changes  in  Securities  and  Use  of  Proceeds

                  NONE

Item  3.          Defaults  Upon  Senior  Securities:

                  NONE

Item  4.          Submission  of  Matters  to  a  Vote  of  Security  Holders:

                  NONE

Item  5.          Other  Information:

                  NONE

Item  6.          Exhibits  and  Reports  on  Form  8K

             (a)  Exhibits

                  99.1 Certification of Charlie Lan, Chairman, President
                  (Principal Executive Officer), and Chief Financial
                  Officer (Principal Financial Officer) pursuant to18 U.S.C.
                  Section 1350, as adopted pursuant to Section 906 of the
                  Sarbanes-Oxley Act  of  2002


             (b)  Reports  on  Form  8-K

                  There  were  no  Forms  8-K  filed during the period of this
                  report.

                                       12
<PAGE>

SIGNATURES

In  accordance  with the requirements of the Exchange Act, the registrant caused
this  report  to  be  signed  on  its  behalf by the undersigned, thereunto duly
authorized.

                                    AMANASU  TECHNOLOGIES  CORPORATION


                                    By:  /s/  Charlie  Lan
                                    Charlie  Lan,  Chairman,  President,
                                    Chief  Financial  Officer  and  Director

Dated:  May  12,  2003


CERTIFICATION  BY  PRINCIPAL  EXECUTIVE  OFFICER AND PRINCIPAL FINANCIAL OFFICER

I,  Charlie  Lan,  certify  that:

1.   I  have  reviewed  this  quarterly  report  on  Form  10-QSB  of  Amanasu
     Technologies  Corporation;

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

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

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

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

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

                                       13
<PAGE>

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

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

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

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

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

Date:  May  12,  2003

/s/  Charlie  Lan
-----------------
Charlie  Lan
Chairman,  President  and  Chief  Financial  Officer
(Principal  Executive  Officer)
(Principal  Financial  Officer)


                                       14
<PAGE>