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

                                   FORM 10-QSB

     [x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
            EXCHANGE ACT OF 1934 for the period ended March 31, 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: 0-32905

                        AMANASU TECHNOLOGIES CORPORATION
                 (Name of Small Business Issuer in its charter)

                     Nevada                                  98-0351508
          (State  or  other jurisdiction of              (IRS Employer
                  incorporation)                       Identification No.)

                 701 Fifth Avenue, 42nd Floor, Seattle, WA 98109
                    (Address of principal executive offices)

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

                 Securities registered under Section 12 (b) of the Act:
            Title of each class                Name of exchange on which
            to be registered                   each class is to be registered
                  None                                   None

              Securities registered under Section 12(g) of the Act:
                                  Common Stock
                                (Title of Class)

Check whether issuer (1) filed all reports to be filed by Section 13 or 15(d) of
the  Exchange  Act  during  the  past 12 months (or 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.  (1) Yes :  No: X  (2) Yes:  X  No:

The  number  of  shares  issued  and  outstanding  of  issuer's  common  stock,
$.001  par  value,  as  of  May  5,  2004  was  49,915,450.

Transitional  Small  Business  Issuer  Format  (Check  One):
Yes      No     X

                                        1
<PAGE>

                        AMANASU TECHNOLOGIES CORPORATION
                         QUARTERLY REPORT ON FORM 10QSB
                    FOR THE THREE MONTHS ENDED MARCH 31, 2004
                                TABLE OF CONTENTS

                           PART 1-FINANCIAL INFORMATION
                           --------------------------

Item  1:     Financial  Statements                          Page  #

Balance  Sheets  as  of  March  31,  2004  (unaudited)
       and  December  31,  2003  (audited)                      4

Statement  of  Operations  and  Deficit  for  the three
       months  ended March  31,  2004  and  2003  (unaudited)   5

Statement  of  Cash  Flows  for  the  three  months  ended
            March  31,  2004  and  2003  (unaudited)            6

Notes  to  Financial  Statements  (unaudited)                   7

Item  2:  Management  Discussion  &  Analysis  of  Financial
               Condition  and  Results  of  Operations          8

Item  3:     Controls  and  Procedures                         12

                             PART 2-OTHER INFORMATION
                             ----------------------

Item  1:     Legal  Proceedings                                12

Item  2:     Changes  in  Securities                           12

Item  3:     Defaults  upon  Senior  Securities                12

Item  4:     Submission  of  Matters  to  Vote  of
              Security  holders                                12

Item  5:     Other  Information                                13

Item  6:     Exhibits  and  Reports  on  Form  8-K             13

Signatures                                                     13

                                        2
<PAGE>

ITEM  1.  FINANCIAL  STATEMENTS

GENERAL

The  Company's  unaudited  financial statements for the three months ended March
31,  2004 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,  and cash flows
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, 2004 are not necessarily
indicative  of  the  results  that  can  be  expected for the fiscal year ending
December  31,  2004.

                                        3
<PAGE>

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

<TABLE>
<CAPTION>

                                           March 31,    December 31,
                                             2004           2003
                                          (Unaudited)     (Audited)


ASSETS
------
Current Assets:
<S>                                            <C>          <C>
    Cash                                  $ 15,418        $ 54,985
                                         -----------    -----------
         Total current assets               15,418           54,985

Fixed Assets:
    Automobile                               1,500            1,500
        Less accumulated depreciation          731              645
                                        -----------  --------------
         Net fixed assets                      769              855
                                        -----------  --------------

Other Assets:
    Licensing agreement                    160,000          160,000
      Less accumulated amortization         30,589           28,236
                                        -----------  --------------
         Total other assets                129,411          131,764

            Total Assets                $  145,598        $ 187,604
                                        -----------  --------------

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

Stockholders' Equity:
Common Stock: authorized 100,000,000
shares of $.001 par value; 46,676,400
shares issued and outstanding               46,676           46,676
Additional paid-in capital                  650,624         650,624
Deficit accumulated during
   development stage                       (551,702)       (509,696)
                                         -----------  --------------
       Total stockholders' equity           145,598         187,604
                                         -----------  --------------
Total Liabilities and Stockholders' Equity  $145,598      $ 187,604
                                         ===========  ==============
</TABLE>


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

                                        4
<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)
                             2004         2003           To March 31, 2004
                         ----------------------------  -------------------
<S>                           <C>        <C>                   <C>
Expenses                  $ 42,039     $ 140,165          $ 555,120
    Operating loss         (42,039)     (140,165)          (555,120)

Other Income - Interest         33           265              3,418
Loss accumulated
during development
stage                     $(42,006)    $(139,900)         $(551,702)
                         ============================  ====================

Loss Per Share -
    Basic and Diluted     $  -         $  -
                         ============================

Average shares
    outstanding           46,676,400   46,573,066
                         ============================
</TABLE>

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

                                        5
<PAGE>

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

<TABLE>
<CAPTION>


                                                                December 1, 1997
                                             Quarters Ended    (Date of Inception)
                                               March 31,        To March  31, 2004
                                           2004         2003
                                           ------------------  -------------------
CASH FLOWS FROM OPERATIONS:
<S>                                         <C>         <C>              <C>
Net loss                                $ (42,006)  $(139,900)      $(551,702)
Changes not requiring the outlay of cash:
    Depreciation and amortization           2,439       2,495          31,320
    Services provided for common stock        -        15,000          21,300
                                           ------------------  -------------------

             NET CASH CONSUMED BY
                 OPERATING ACTIVITIES     (39,567)   (122,405)       (499,082)
                                           ------------------  -------------------

CASH FLOWS FROM INVESTING
     ACTIVITIES:
Purchase of automobile                       -            -            (1,500)
Payment of amount due for licensing
Agreement                                    -            -          (160,000)

            NET CASH CONSUMED BY
                INVESTING ACTIVITIES         -            -          (161,500)
                                           ------------------  ---------------

CASH FLOWS FROM FINANCING
     ACTIVITIES:
Issuances of common stock                    -            -           616,000
Shareholder capital contribution             -            -            60,000
                                           ------------------  ---------------

            NET CASH PROVIDED BY
                FINANCING ACTIVITIES         -            -           676,000
                                           ------------------  ---------------

Net Change In Cash                         (39,567)   (122,405)        15,418

Cash balance, beginning of period           54,985     208,901           -

Cash balance, end of period             $   15,418   $  86,496       $  15,418
                                           ==================  ===============
</TABLE>


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

                                        6
<PAGE>


                        AMANASU TECHNOLOGIES CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                 MARCH 31, 2004
                                   (UNAUDITED)




1.     BASIS  OF  PRESENTATION

The  unaudited  interim financial statements of Amanasu Technologies Corporation
("the Company") as of March 31, 2004 and for the three month periods ended March
31,  2004  and  2003,  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, 2004  are not necessarily indicative of the
results  to  be  expected  for  the  full  fiscal year ending December 31, 2004.

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,  2003.


                                        7
<PAGE>

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

                              Cautionary Statement

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  the 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.

See  the  Company's  Annual Report on Form 10-KSB for the period ending December
31,  2003  ("Form  10-KSB")  filed  on  April  6, 2004 for additional statements
concerning  operations and future capital requirements. Certain risks exist with
respect  to  the  Company  and  its  business,  which risks include the need for
additional  capital,  and lack of commercial product, among other risks. Readers
are  urged to refer to the section entitled "Risk Factors" in the Company's Form
10-KSB  for  a  broader  discussion  of  such  risks  and  uncertainties.
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, 2003.

COMPANY  OVERVIEW

The  Company  is  a  development  stage company and significant risks exist with
respect to its business. The Company received the exclusive, worldwide rights to
a  high  efficiency electrical motor and a high powered magnet both of which are
used  in  connection  with  an  electrical  motor scooter. The technologies were
acquired under a sub-license agreement with Amanasu Corporation, formerly Family
Corporation.  Amanasu  Corporation, a Japanese company and the Company's largest
shareholder, acquired the rights to the technologies under a licensing agreement
with  the  inventors.  Mr.  Atsushi Maki, a director of the Company, is the sole
shareholder  of Amanasu Corporation. At this time, the Company is not engaged in
the  commercial sale of any of its licensed technologies. Its operations to date
have  been  limited  to acquiring the technologies, constructing four proto-type
motor  scooters  and  various testing of the technologies and the motor scooter.
The Company must raise funds in order to commence the sale of its motor scooter.

                                        8
<PAGE>

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.

PRODUCTS

The  Company  intends  to participate in the emerging electric vehicle market by
using  its  sub-licensed  technologies  to  design,  manufacture,  and  sell
lightweight, electric motor scooters. The Company may expand its product line in
the  future  to  include  other  electronic vehicles, such as electric bicycles.

The  Company's  principal  product  will  be  a  lightweight  motor scooter that
features  the  Company's  proprietary  electric motor. The one passenger scooter
also  will  feature  a  stepless  transmission,  an  electromotive brake, and is
expected  to  weigh  107  kg.  The Company will use an otherwise standard leaded
battery. Due to the unique features of the licensed technologies, the scooter is
expected to deliver improved operational efficiencies over competitive products.
On  December  26,  2001,  Sanwa  Electronics Co., Inc. performed two independent
tests  on  one  of  the  Company's scooters. The test results indicated that the
motor  scooter  can  travel  65 to 85 km on a full battery charge, at an average
running  speed  of 30 km/hour. The battery charge time to travel these distances
approximated 2 hours. Sanwa Electronics conducted the tests on a relatively flat
road  grade  with  limited  traffic density. These results contrast with Honda's
electric  scooter  (Year  2001-Model  #A-AF36).  According to product literature
published by Honda, the scooter travels approximately 60 km at 30 km/hour, and a
full recharge requires approximately 8 hours. Conditions, such as road grade and
travel  density,  regarding  the  its  scooter  were  not contained in the Honda
information.

The  Company recognizes there have been major barriers to widespread adoption of
electric  motor  scooters.  These  barriers  include  higher  retail  pricing of
electric  motor scooters compared to gas-powered versions. In addition, electric
motor  scooters  have labored under its operational limitations, such as limited
travel  range  and  lengthy  battery  charge time. The Company believes that its
product  will  favorably  respond  to  these  barriers.  The  Company expects to
competitively  price  its  scooter  with others in the marketplace. For example,
despite  the unique features of its motor, the Company expects its motor scooter
to  retail  slightly  higher  than gas powered versions, however, at discount of
between  20%  to  30%  to the Honda model identified above. It believes that the
operational  efficiencies  of  its  scooter, that is its longer travel range and
shorter charge time, will overcome some of the operational limitations that have
plagued  other  electric  scooters.

                                        9
<PAGE>

Gas  powered  scooters  while  generally  an inexpensive mode of transportation,
typically  are  powered  by  two-stroke  engines  fueled  by an oil and gasoline
mixture.  These  engines  are small with compressed power, and therefore ideally
suited  for  scooter use. However, two stroke engines are commonly identified by
clouds  of  oily  smoke  trailing  the  engine,  which  evidences  its  major
disadvantages.  Two stroke engines use fuel inefficiently and, more importantly,
have  high  pollution  emissions.  They generate pollution from two sources; the
combustion  of oil in the fuel, and the leaking of fuel through the exhaust port
during engine use. In promoting its product to its targeted markets, the Company
will seek to capitalize on its strong operational efficiencies of the technology
compared  with  other  electric  scooters,  while  championing  its  product's
environmental  advantages  to  gas  powered  versions.

PLAN  OF  OPERATIONS.

The  Company  is  a  development  stage  corporation.  It  has not commenced its
planned  operations  of  manufacturing  and  marketing  a lightweight electrical
motor  scooter.  Its  operations to date have been limited to conducting various
tests  on  its  technologies,  and  constructing four prototypes of its scooter.

During  2003,  the Company has constructed four prototypes of its scooter, which
the  Company intends to use as demonstrational units for marketing and sale, and
testing  purposes.  However,  the  Company  does  not  expect  to  initiate  the
manufacture  and  sale  of  its  scooter until such time as it raises sufficient
working  capital  as  described  below.

The  Company's  plan  of operations for the next 12 months is to conduct limited
product  refinement  of  its  technologies, which includes product improvements,
redesign  of  the exterior, and additional testing of the scooter, which will be
required prior to commercial production. The Company's cash requirements for the
next  12  months  are  estimated to be $500,000. This amount is comprised of the
following  estimate  expenditures;  $160,000 for administrative salaries, office
expenses  and travel, $320,000 for product development, and testing, and $20,000
for  parts  inventory.  Administrative  salaries  includes  salaries  payable to
existing and projected staff personnel, and office expenses represents overhead,
including  rent, for its Seattle and Tokyo offices. Product development includes
additional  refinements that the Company may make to its technologies to improve
its  operating  efficiencies  and  appearance.  Product  inventory represents an
initial  supply  of  limited  parts  for  repairs.

The  Company  is seeking to raise a minimum of $500,000 in the next 12 months to
support  its working capital needs as described above. The funds may be procured
through  the  public  or  private  offering of its debt or equity securities. In
addition  to  the  above  described  capital  requirements,  the Company will be
required  to  raise  additional  funds  in  order  for it to commence full scale
production. The amount of such funds is estimated to be $400,000. The funds will
be allocated to parts and component inventory required in advance of production,
and  costs  for  manufacturing and specialty component production.  The  Company
cannot  predict  whether  it  will  be  successful  in  raising  any  capital
efforts.

                                       10
<PAGE>

The  Company  has no material commitments for capital at this time other than as
described  above. The Company expects to outsource the construction of component
parts  of  its  products  to  third parties as well as the scooter assembly. The
Company  believes  that  it can meet product demand from available manufacturing
and  assembly  resources  in  Japan  and  elsewhere.

As  stated  above,  the  Company  cannot  predict  whether  or  not  it  will be
successful in its capital raising  efforts,  and,  thus,  be able to satisfy its
cash  requirements  for  the  next  12 months. If the Company is unsuccessful in
raising  at  least  $500,000, it may  not  be  able  to  complete  its  plan  of
operations  as  discussed  above.


RESULTS  OF  OPERATIONS

The  Company  did not generate any revenues for the quarter ended March 31, 2004
or  for  the  same period in 2003 except for interest earned in bank deposits in
the  amount  of  $  33  and  $265  respectively.

Total  expenses  for  the  three month period ending March 31, 2004 was $ 42,039
compared  to  $  140,165  for  the same period of 2003.  The decrease was due to
reduced  professional  fees.

In  the  event  that  the  Company  does not generate revenues in  the  next  12
months,  the  Company  plans  to  obtain  additional  private  placements  and
loans  from  the  Company's  Director,  Atsushi  Maki.  The  Company  does
anticipate  business  opportunities,  however  those  opportunities  remain
uncertain  to  date.

LIQUIDITY  AND  CAPITAL  RESOURCES


In  the  three months ended March 31, 2004 cash used in operating activities was
$  39,567  compared to $ 122,405 for the same period in 2003.  This decrease was
due  to  reduced  expenses.

In  the  three  months  ended  March  31,  2004,  there  were  no cash  used  in
investing  or  financing  activities.  There  were  also  no  cash  used  for
investing  activities or financing activities  for  the  same  period  of  2003.

In  October  2001, the Company received $46,000 from four investors and $400,000
resulting  from  the  exercise  of stock options for 20,000,000 shares of common
stock  by  the  Company's  principal  shareholder.

                                       11
<PAGE>


CRITICAL  ACCOUNTING  POLICIES

The  following  discussion and analysis of the Company's financial condition and
results  of  operations are based upon the 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  on-going  basis,  the Company evaluates these
estimates.  The  Company  bases  its  estimates  on historical experience and on
various  other  assumptions  that  are  believed  to  be  reasonable  under  the
circumstances,  the  results  of which form the basis for making judgments about
the carrying values of assets and liabilities that are not readily apparent from
other  sources.  Actual  results may differ from these estimates under different
assumptions  or  conditions.

Item  3.  Effectiveness  of  the registrant's disclosure controls and procedures

The  Company  carried  out  an  evaluation of the effectiveness of the Company's
disclosure  controls  and  procedures  (as  defined  by Rule 13a-14(c) under the
Securities  Exchange  Act  of  1934)  under  the  supervision  and  with  the
participation  of  the  Company's  chief  executive  officer and chief financial
officer.  Based  on  and  as  of the date of such evaluation, the aforementioned
officers  have  concluded  that the Company's disclosure controls and procedures
have  functioned  effectively  so  as  to provide those officers the information
necessary  whether:
(i)  this  quarterly  report  on  Form 10 QSB contains any untrue statement of a
material fact or omits 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 on Form
10  QSB,  and(ii)  the  financial  statements,  and  other financial information
included in this quarterly report on Form 10 QSB, fairly present in all material
respects  the  financial  condition, results of operations and cash flows of the
Company  as  of, and for, the periods presented in this quarterly report on Form
10  QSB.
There  have been no significant changes in the Company's internal controls or in
other  factors  since  the  date  of the Chief Executive Officer's and Principal
Financial  Officer's  evaluation  that could significantly affect these internal
controls,  including  any  corrective  actions  with  regards  to  significant
deficiencies  and  material  weaknesses.

Part  II  OTHER  INFORMATION

Item  1.  Legal  Proceedings
None

Item  2.  Changes  in  Securities
None

Item  3.  Defaults  upon  Senior  Securities
None

Item  4.  Submission  of  Matters  to  a  Vote  of  Securityholders
None

                                       12
<PAGE>

Item  5.  Other  Information
None

Item  6.  Exhibits

(a).  Furnish  the  Exhibits  required  by  Item  601  of  Regulation  S-B.

Exhibit  31 - Certification Pursuant To Section 302 of the Sarbanes-Oxley Act of
2002.

Exhibit  32 - Certification Pursuant To Section 906 of the Sarbanes-Oxley Act of
2002.

(b)  Reports  on  Form  8-K.
None

                                   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.

                              AMANASU  TECHNOLOGIES  CORPORATION

Date:  May 17, 2004

                         /s/ Masafumi Hata
                         Masafumi  Hata
                         Chairman,  President,  Director  and  Principle
                         Accounting  Officer


                         /s/ Atsushi Maki
                         Atsushi  Maki
                         Director


                                       13
<PAGE>