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

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

                                  FORM 10-QSB

                   QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                       OF THE SECURITIES EXCHANGE ACT OF
                      1934 FOR THE QUARTERLY PERIOD ENDED
                               SEPTEMBER 30, 2002

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

           For the transition period from ___________ to ___________

                        Commission File Number: 0-13597

                           PRECISE LIFE SCIENCES LTD.
             (Exact name of registrant as specified in its charter)

                       NEVADA                         88-0195105
           (State or other jurisdiction of        (I.R.S. Employer
            incorporation or organization)       Identification No.)


         1239  West Georgia Street, Suite 3004, Vancouver,     V6E 4R8
                    British Columbia, Canada
     (Address of registrant's principal executive offices)    (Zip Code)


                                  604.664.0499
              (Registrant's Telephone Number, Including Area Code)

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

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 September 30, 2002 there were
26,666,319 shares of the issuer's $0.001 par value common stock issued and
outstanding.

ITEM 1.   Financial Statements







                           PRECISE LIFE SCIENCES LTD.
                             (formerly Asdar Group)

                          (A Development Stage Company)

                          INTERIM FINANCIAL STATEMENTS

                               SEPTEMBER 30, 2002

                                   (Unaudited)





BALANCE SHEETS

INTERIM STATEMENTS OF OPERATIONS

INTERIM STATEMENTS OF CASH FLOWS

NOTES TO INTERIM FINANCIAL STATEMENTS





                           PRECISE LIFE SCIENCES LTD.
                             (formerly Asdar Group)

                          (A Development Stage Company)

                                 BALANCE SHEETS

<table>
<caption>

                                                    <c>             <c>

                                                       September 30,   December 31,
                                                           2002            2001
                                                       (Unaudited)
                                     ASSETS

CURRENT ASSETS
 Cash
                                                      $          -   $     28,266
 Taxes recoverable                                             623          2,707
 Advances receivable                                             -            163
 Due from related parties (Note 7)                         176,351        127,440
 Current portion of service contracts                       31,333         31,333
                                                           208,307        189,909

SERVICE CONTRACTS (Note 4)                                  35,251         58,750
OIL AND GAS PROPERTIES (Note 3)                            292,751        300,001
                                                         ---------      ---------

                                                      $    536,309   $    548,660
                                                         =========      =========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
     Bank Overdraft
                                                      $      1,134   $          -
 Accounts payable and accrued liabilities                   77,211        116,186

 Due to related parties (Note 7)                            97,721              -
                                                         ---------      ---------
                                                           176,066        116,186
                                                         ---------      ---------
CONTINGENCIES (Notes 1 and 6)

STOCKHOLDERS' EQUITY (Note 4)
  Common stock, $.001 par value, 50,000,000 shares          26,666         13,724
authorized
      26,666,319 (2001 - 13,724,498) shares issued
and outstanding
 Additional paid-in capital                             14,613,115     11,481,869
 Common stock subscriptions                                      -        633,000
 Deficit accumulated during the development stage      (14,279,538)   (11,696,119)
                                                        ----------     ----------
                                                           360,243        432,474
                                                         ---------      ---------
                                                      $    536,309   $    548,660
                                                         =========      =========

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

</table>

                           PRECISE LIFE SCIENCES LTD.
                             (formerly Asdar Group)

                          (A Development Stage Company)

                        INTERIM STATEMENTS OF OPERATIONS

                                   (Unaudited)

<table>
<caption>

                                <c>             <c>           <c>            <c>            <c>

                                                                                               Cumulative
                                        Three         Three          Nine           Nine          from
                                       Months         Months        Months         Months      January 1,
                                        ended          ended         ended          ended       1996 to
                                    September      September     September      September       September
                                     30, 2002       30, 2001      30, 2002       30, 2001       30, 2002
                                   ----------      ---------     ---------      ---------       ---------
EXPENSES
 Litigation settlement                      -              -             -              -       2,291,070
 Management and consulting fees       185,418        132,956       801,902        310,371       1,649,728
 General and administrative            67,258        107,285       323,994        284,800       1,118,938
 Professional fees                      7,179         20,849        50,425        131,600         678,891
 Interest Expense                         361              -        52,093              -          97,790
 Software development costs                 -              -             -              -         737,300
  Write-down (recovery)  of  oil      (50,995)     1,046,633       (50,995)     1,046,633       1,958,188
and gas properties
  Write-off (recovery)  of  ACGT            -              -     1,406,000              -       1,406,000
interest (Note 5)

NET LOSS FOR THE PERIOD           $   209,221    $ 1,307,723   $ 2,583,419    $ 1,773,404     $ 9,818,905

BASIC NET LOSS PER SHARE          $      0.01    $      0.11   $      0.12    $      0.16


WEIGHTED AVERAGE COMMON SHARES     22,326,068     11,733,284    21,870,974      11,240,994
 OUTSTANDING

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

</table>


                           PRECISE LIFE SCIENCES LTD.
                             (formerly Asdar Group)

                          (A Development Stage Company)

                        INTERIM STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<table>
<caption>

                                        <c>               <c>             <c>

                                               Nine Months    Nine Months     Cumulative from
                                           ended September          ended     January 1, 1996
                                                  30, 2002      September    to Sept. 30, 2002
                                                                 30, 2001

CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period                      $  (2,583,419)  $ (1,307,723)    $  (9,818,905)

Adjustments to reconcile net loss to  net
cash from operating activities:
- fees and services paid for with common           977,013        330,122         1,935,412
   shares
- interest paid for with common shares              32,925              -            80,872
- software development costs paid for                    -              -           600,000
   with common shares
- write-down of interest in oil and gas                  -      1,046,633         2,009,183
   properties
- write down of interest in ACGT                 1,406,000              -         1,406,000
   Corporation
- other non-cash expenses                                -              -         2,557,382
                                                 (167,481)      (396,649)        1,230,056)

- net changes in working capital items              70,705         46,719           103,620

CASH USED IN OPERATING ACTIVITIES                 (96,776)      (349,930)        1,126,436)

CASH FLOWS FROM INVESTING ACTIVITIES
Oil and gas property acquisitions                        -      (312,659)         (684,934)

CASH FLOWS FROM FINANCING ACTIVITIES
   Bank Overdraft                                    1,134              -             1,134
Net proceeds on sale of common stock                     -        175,000           445,000
Net proceeds from common stock                           -        658,000           633,000
subscriptions
Net advances (to) from related parties              67,376      (127,316)           312,236
Advances receivable                                      -         55,000           420,000

CASH FLOWS FROM FINANCING ACTIVITIES                68,510        760,684         1,811,370

INCREASE (DECREASE) IN CASH                       (28,266)         98,095                 -

CASH, BEGINNING OF PERIOD                           28,266          6,056                 -

CASH, END OF PERIOD                          $           -    $   104,151       $         -

</table>

Other non-cash transactions during the current period:

  The  Company issued 5,213,321 common shares in settlement of outstanding debts
  totalling $913,086.

  The  Company  cancelled  47,500  common shares  with  restrictions  previously
  issued for a finder's fee valued at $7,250 (25,000 shares) and settlement  for
  a loan valued at $2,250 (22,500 shares).

  The   Company  issued  4,000,000  common  shares  with  restrictions  for  the
  acquisition  of  the rights to acquire an interest in ACGT Corporation  valued
  at  $1,320,000  and then cancelled 100,000 of these common  shares  valued  at
  $33,000.

  The  Company  issued  350,000  common shares for outstanding  consulting  fees
  totalling $119,000.

  The  Company  issued  2,120,000  common shares for  outstanding  salaries  and
  consulting  fees totalling $169,600 and 400,000 common shares for  outstanding
  fees to the scientific advisory board members.

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

NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION

The company was incorporated as Venture Investments Inc. under the Laws  of the
State  of Nevada on November 29, 1983.  The company underwent  a  name change
to  Asdar  Group on December 10, 1997 and another  name  change  to Precise Life
Sciences Ltd. on April 30, 2002.  The company was dormant from 1991  to  1996
and  currently has no revenue  generating  operations.   In accordance  with
SFAS #7, the company is considered  a  development  stage company since January
1, 1996.

The financial statements have been prepared on the basis of a going concern
which  contemplates  the  realization of assets  and  the  satisfaction  of
liabilities  in  the  normal course of business.  The  Company  is  in  the
development  stage, has not generated any revenues or completed development of
any  commercially acceptable products or services to date  and  further
significant losses are expected to be incurred in developing its  business. The
recoverability  of the carrying value of assets  and  ability  of  the Company
to  continue as a going concern is dependent on raising additional capital and
ultimately on generating future profitable operations.

Unaudited Interim Financial Statements

The  accompanying unaudited interim financial statements have been prepared in
accordance  with generally accepted accounting principles  for  interim
financial  information  and  with  the  instructions  to  Form  10-QSB   of
Regulation S-B. They do not include all information and footnotes  required by
generally  accepted  accounting  principles  for  complete   financial
statements. However, except as disclosed herein, there has been no material
changes  in  the  information  disclosed in  the  notes  to  the  financial
statements  for the year ended December 31, 2001 included in the  Company's
Annual  Report  on  Form  10-KSB filed with  the  Securities  and  Exchange
Commission. The interim unaudited financial statements should  be  read  in
conjunction with those financial statements included in the Form 10-KSB. In the
opinion of Management, all adjustments considered necessary for a fair
presentation, consisting solely of normal recurring adjustments, have  been
made.   Operating results for the nine months ended September 30, 2002  are not
necessarily indicative of the results that may be expected for the year ending
December 31, 2002.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The accompanying financial statements are presented in United States dollars and
are prepared in accordance with accounting principles generally accepted in the
United States.

Use of Estimates and Assumptions

Preparation of the Company's financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions  that  affect certain reported amounts and disclosures.
Accordingly, actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all liquid investments, with an original maturity  of
three months or less when purchased, to be cash equivalents.

Foreign Currency Translation

The  financial  statements  are presented in  United  States  dollars.   In
accordance  with  Statement  of  Financial  Accounting  Standards  No.  52,
"Foreign  Currency  Translation", foreign denominated monetary  assets  and
liabilities are translated to their United States dollar equivalents  using
foreign  exchange rates which prevailed at the balance sheet date.  Revenue and
expenses are translated at average rates of exchange during the  year. Related
translation  adjustments are reported as a separate  component  of stockholders'
equity,  whereas  gains or  losses  resulting  from  foreign currency
transactions are included in results of operations.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (con't)

Oil and Gas Properties

The  Company follows the full cost method of accounting for its oil and gas
operations  whereby all cost related to the acquisition  of  petroleum  and
natural  gas interests are capitalized.  Such costs include land and  lease
acquisition  costs, annual carrying charges of non-producing properties,
geological and geophysical costs, costs of drilling and equipping productive and
non-productive wells, and direct exploration salaries and related benefits.
Proceeds from the  disposal of capital assets are recorded as a reduction of the
related expenditures without recognition  of a gain  or loss unless the disposal
would result in a change of 20 percent or more in the depletion rate.

Depletion and depreciation of the capitalized costs will be computed  using the
unit-of-production method based on the estimated proven reserves of oil and gas
determined by independent consultants.

The Company applies a ceiling test to capitalized costs to ensure that such
costs do not exceed estimated future net revenues from production of proven
reserves at year end market prices less future production, administrative,
financing, site restoration, and income tax costs plus the lower of cost or
estimated market value of unproved properties.

Fair Value of Financial Instruments

The following disclosure of the estimated fair value of financial instruments is
made in accordance with the requirements of SFAS No. 107. Disclosures about Fair
Value of Financial Instruments. The estimated fair value amounts have been
determined by the Company, using available market information and appropriate
valuation methodologies.  The fair value of financial instruments classified as
current assets or liabilities including cash and cash equivalents  and notes and
accounts payable approximate carrying value due to the short-term maturity of
the instruments.

Stock-Based Compensation

The  Company  accounts for stock-based compensation  in  respect  to  stock
options  granted to employees and officers using the intrinsic value  based
method  in  accordance with APB 25. Stock options granted to  non-employees are
accounted for using the fair value method in accordance with SFAS  No. 123.  In
addition, with respect to stock options granted to employees,  the Company
provides pro-forma information as required by SFAS No. 123 showing the  results
of  applying  the fair value method using  the  Black-Scholes option pricing
model.

The  Company  accounts for equity instruments issued in  exchange  for  the
receipt  of goods or services from other than employees in accordance  with SFAS
No. 123 and the conclusions reached by the Emerging Issues Task Force in  Issue
No. 96-18.  Costs are measured at the estimated fair market value of  the
consideration received or the estimated fair value of  the  equity instruments
issued, whichever is more reliably measurable.  The  value  of equity
instruments issued for consideration other than employee services is determined
on  the earliest of a performance commitment or  completion  of performance by
the provider of goods or services as defined by EITF 96-18.

The  Company  has  also adopted the provisions of the Financial  Accounting
Standards  Board Interpretation No.44, Accounting for Certain  Transactions
Involving  Stock  Compensation - An Interpretation of APB  Opinion  No.  25
("FIN  44"), which provides guidance as to certain applications of APB  25. FIN
44  is generally effective July 1, 2000 with the exception of  certain events
occurring after December 15, 1998.


NOTE 3 - OIL AND GAS PROPERTIES

Harvester Property, California, USA:

On  February 26, 2001, the Company acquired a 50% working interest  in  the
Harvester  Prospect,  located in the San Joaquin  Basin  in  Kings  County,
California  from International Brooks Petroleum Ltd.  To date  the  Company has
paid a total of $611,556 on the Harvester #1-25 well re-entry  program including
an acquisition finder's fee of 50,000 shares valued at  $29,250. All  future
costs will be split 50/50 between the Company and International Brooks Petroleum
Ltd.  The re-entry drilling program was completed in July, 2001  to  a  total
depth of 14,242 feet. Subsequent logging  of  the  well identified  two primary
and five secondary completion targets. The  Company received a cash call for
$269,647 as its share of completion costs for  the well and this amount was
advanced on October 10, 2001.  The Vedder zone was initially  perforated between
13,264 - 13,360 feet and requires  additional swabbing at a later date prior to
confirming flow rates and composition  of fluids. The Temblor zone was
perforated between 11,706 - 11,740 feet. After perforation the well flowed on
its own with gas cut fluid. Flow testing  of this well recommenced in the first
quarter of 2002 and the results were not readily determinable.

During the shut down period, the Company was invoiced for cost overruns  on the
project  to  December 31, 2001 in the amount of $50,995  and  given  a further
cash  call  for $34,870 for more completion  costs.   The  Company requested a
full accounting for the project to make a determination on  the cause of cost
overruns and on participating in further expenditures on  the well.  The
Company asked for certain documentation to confirm expenditures on  the  project
to  date.  Although the  Operator  has  provided  certain documentation  with
respect to expenditures, it is the Company's  position that   the   information
provided  is  insufficient  to  make   a   proper determination.  International
Brooks Petroleum has taken the position  that the  Company is in default and
alleges that the Company's interest has been forfeited.   Until  the  Company is
provided  with  additional  information requested  from the Operator, it does
not consider itself to be in  default of  its  obligations under the agreement.
However, based on the results  of the  re-entry program to date, the Company has
written down its  investment in the Harvester Property to a nominal value of $1.

On  September 23, 2002, the Company and International Brooks Petroleum Ltd.
agreed to settle their differences as follows:

  1.   International Brooks Petroleum Ltd. agrees to reserve and pay Precise
       Life Sciences Ltd., monthly, an amount equal to 2% of the gross proceeds
       received from the sale of any hydrocarbons obtained from the Property for
       the prior month . This Royalty Interest shall continue until the later
       of:

       a)   International Brooks' rights in the Property, pursuant to the Lease
            dated May 1, 2000 and all amendments thereto, are terminated ; or

       b)   any subsequent interest in the Property acquired by International
            Brooks or any associate or affiliate thereof is terminated. At  such
            time,  the Royalty Interest shall terminate  and  be  of  no further
            force or effect.  At such time as hydrocarbons  are  obtained from
            the Property, International Brooks agrees to register the Royalty
            Interest  with  the appropriate regulatory authorities  in  favour
            of Precise Life.

  2.   Precise Life, in consideration of the Royalty Interest to be reserved by
       International Brooks in favour of Precise Life, agrees to terminate any
       interest it had, has or may have in the Property pursuant to the
       Agreement.

  3.   Each Company does remise, release and forever discharge each other and
       its respective successors or assigns, from all  actions,  causes of
       action, claims and  demands  which  each

  Company  had, now has or will have. This includes any  arrears of exploration
  expenditures which have not been paid by Precise Life and any costs which may
  be incurred to plug and abandon the Harvester #1-25 well located  on the
  Property.


NOTE 3 - OIL AND GAS PROPERTIES (con't)

LAK Ranch Oil Project, Wyoming, USA:

On  September  20, 2000, the company signed an agreement with 2UOnline.com, Inc.
("2U"),  a  Delaware public corporation under common  management,  to acquire
2U's 25% interest in the oil and natural gas rights on 6,360  acres located  in
the Powder River Basin of eastern Wyoming (the "LAK Ranch")  in consideration
for the issuance of 5,000,000 restricted common shares and  a finder's fee of
500,000 restricted common shares.

The  LAK  Ranch  Oil Project consists of a steam assisted gravity drainage
("SAGD") production well and surface facilities which has been developed by
Derek Resources Corporation ("Derek") pursuant to an option agreement dated
September 27, 1997 between a predecessor optionor and Derek.   The option
agreement provided, amongst other terms, that Derek could acquire a 75% interest
in the project by developing a SAGD well pair and surface facility and fund the
initial start up operations for six months at a budgeted cost of $3,500,000.
The project is substantially complete, however Derek has incurred substantial
cost  overruns of approximately  $4,200,000.   Derek asserted a contractual
right to collect 25% of this cost overrun from  the Company which the Company
disputed.   As a result,  Derek  commenced foreclosure proceedings on the
Company's 25% interest in the property which the  Company also  disputed.   The
matter was subject to various  legal proceedings  that were to be heard before
the Wyoming court on October  31, 2001.  However,  on October 19, 2001 a
litigation settlement was reached between the Company and Derek.

As  a result of the settlement the Company received a 0.7% gross overriding
royalty interest in the property in exchange for its 25% interest and no further
financial obligations with respect to costs incurred by Derek.  At September 30,
2002 the Company has written down the carrying value  of its interest in the LAK
Ranch Project to the estimated net realizable value of $292,750.

NOTE 4 - SERVICE CONTRACTS

On November 15, 2001, the Company entered into an agreement with Palisades
Financial Ltd., a private company controlled by a significant shareholder, with
a three-year term, whereby Palisades will provide investment-banking services to
the Company (valued at $94,000) in exchange for 200,000 restricted shares of the
Company's common stock.  At September 30, 2002 the prepaid portion of the
service contracts totaled $66,584.

NOTE 5 - INVESTMENT IN ACGT CORPORATION

On   January  11,  2002,  the  Company  signed  an  agreement  with  Bisell
Investments  Inc.,  Y.E.N.N. Asset Management, certain officers,  directors and
employees of the Company and Travellers International Inc, whereby  it acquired
the  right  to  purchase  31.6% of  Toronto  based  biotechnology Company,  ACGT
Corporation (ACGT), with the ability to acquire  a  further interest as
warranted by the developments of ACGT Corporation. The  Company has  purchased
the rights to this transaction in exchange for the  issuance of  8,000,000
shares restricted shares of the Company and the commitment of $5,000,000  in
funding over an eight month period for corporate development and  working
capital within the three divisions of ACGT Corporation.   The funding was to be
advanced as follows: March 8, 2002 ($1,000,000), June 28, 2002  ($2,000,000) and
October 28, 2002 ($2,000,000).  A refundable deposit of  $20,000 was paid on
February 18, 2002.  A due diligence review of  ACGT was  to  be completed by
March 8, 2002.  On March 8, 2002, the Company  had still  not  received  all the
requested information  to  complete  the  due diligence process.  On March 11,
2002 without any prior written notice, the Company  received  a letter from ACGT
stating that the  agreement  and  all subsequent amendments were null and void
due to non-payment of the March 8, 2002  commitment.  The Company advised ACGT
that the due diligence  process was not complete and it must forward the
requested information prior to the release  of  any  further funds.  The Company
is attempting re-negotiations with ACGT Corporation and in the interim has
received back the February 18, 2002  deposit.   The Company issued 8,000,000
restricted common  shares  to various  parties to acquire the rights. Of the
8,000,000 restricted  common shares, 4,375,000 were issued to arms length third
parties, 2,500,000  were issued to a Company associated with a significant
shareholder, 525,000 were issued  to a Company controlled by a significant
shareholder, 400,000  were issued  to  directors and 200,000 were issued to
employees of the  Company. (See  Note  7).   Thereafter, 4,100,000 of the
8,000,000 restricted  common shares  were cancelled and returned to treasury.
These 4,100,000 cancelled restricted  common  shares  were previously issued  to
arms  length  third parties.   Due  to  the inability to complete the terms of
the  assignment agreement,  the  Company  has written off the acquisition  costs
totalling $1,406,000.

NOTE 6 - CAPITAL STOCK


The  Company's capitalization is 50,000,000 common shares with a par  value of
$0.001 per share.

At  June  30, 2002, the Company had outstanding share purchase warrants  as
follows:

*    1,000,000 warrants to purchase an additional share of par value common
      stock at $0.75 per share until January 30, 2003.

*    356,000 warrants to purchase an additional share of par value common stock
      at $0.60 per share until January 12, 2003.

*    1,000,000 warrants to purchase an additional share of par value common
      stock at $0.35 per share until October 17, 2002.

The Company has not granted any stock options to date.


During  the  nine months ended September 30, 2002, the Company  issued  the
following shares:

<table>
<caption>

                             <c>              <c>             <c>              <c>              <c>               <c>

                                                                                                      Deficit
                                                                                                    accumulated
                                                                  Additional                          during
                                 Number of                         Paid In        Stock                 the
                                   shares           Amount         Capital        Subscriptions     development           Total
                                                                                                       stage
                                ----------       ---------       ------------     -----------      -------------    -------------

Balance,  December  31,         13,724,498       $  13,724       $ 11,481,869     $   633,000      $ (11,696,119)   $     432,474
2001


Shares  cancelled   for            (47,500)            (47)            (9,453)              -                  -           (9,500)
previous fees

Shares issued for  cash          1,000,000           1,000            629,000       (630,000)                  -                -
at  $0.70 a share  less
finders fee

Shares issued for  debt            916,108             916            310,562              -                   -          311,478
at $0.34 (See note 7)

Shares issued for  ACGT          4,000,000           4,000          1,316,000              -                   -        1,320,000
rights  at  $0.33  (See
Note 7)

Shares    issued    for            350,000             350            118,650              -                   -          119,000
services at $0.34  (See
Note 7)

Shares issued for  debt          4,297,213           4,297            597,313              -                   -          601,610
at $0.14 (See Note 7)

Shares  cancelled   for           (100,000)           (100)           (32,900)                                            (33,000)
previous services

Shares issued for  cash              6,000               6              2,994         (3,000)                  -                -
at $0.50 per share

Shares    issued    for          2,120,000           2,120            167,480              -                   -          169,600
services  at $0.08  per
share

Shares issued for  fees            400,000             400             31,600              -                   -           32,000
at $0.08 per share

Net  loss for the  nine                  -               -                  -              -          (2,583,419)      (2,583,419)
months ended Sept.  30,
2002

Balance, September  30,         26,666,319          26,666         14,613,115              -         (14,279,538)         360,243
2002

</table>


NOTE 7 - RELATED PARTY TRANSACTIONS

During  the  nine  months ended September 30, 2002,  the  Company  incurred
salaries  of  $43,000 to two directors and a former director. In  addition, the
Company  issued  168,000 common shares to a director  in  payment  for salaries
expense  incurred on behalf of the Company  totalling  $  57,120. (See Note 6)

During  the  nine  months  ended September 30, 2002  the  Company  incurred
consulting fees of $23,400 to private companies controlled by a significant
shareholder.

During  the nine months ended September 30, 2002 the Company issued 62,500
common  shares for consulting services valued at $8,750 to a Company associated
with a significant shareholder, 100,000 common shares for consulting services
valued  at $34,000 to a significant shareholder and 250,000 common  shares  for
consulting services valued at $85,000 to a private Company controlled by a
significant shareholder. In addition, the Company issued  375,000 common shares
for consulting services valued at $52,500, 123,888 common shares for re-
imbursement of expenses valued at $17,344,and 106,250 common shares for
repayment of a loan in the amountof $14,875 to an employee of the Company. (See
Note 6)

During  the nine months ended September  30, 2002  the Company issued 2,500,000
restricted common shares  valued at $825,000 to a Company associated with a
significant shareholder 525,000 restricted common shares valued at $173,250 to a
Company controlled by a significant shareholder, 400,000 restricted common
shares valued at $132,000 to three directors  and 200,000 restricted common
shares valued at $66,000 to two employees as part of the acquisition of certain
rights to a biomedical project. (See Note 5).

During  the nine months ended September 30, 2002 the Company issued 750,000
shares  for consulting services valued at $60,000 to two significant
shareholders and 870,000 shares for salary, consulting and other  expenses
valued at $ 69,600 to two employees. (See Note 6)

At September 30, 2002 an amount of $176,351 is owing from a public Company and
its subsidiary, with a director in common, an amount of $81,721 is owing to a
significant shareholder and $16,000 is owing to one director for accrued salary.
These amounts are non interest bearing and have no specific terms of repayment.

NOTE 8 - CONTINGENCY

On  February 21, 2002, the Company issued 350,000 shares valued at $119,000 to
Empire Sterling Corporation for services to be rendered  with respect to the
acquisition of ACGT Corporation.  The shares were to be held in  trust and  not
sold  until all necessary financing was in place to complete  the ACGT
acquisition. Empire Sterling Corporation breached the trust agreement and  the
Company placed a stop transfer on these shares and requested  they be  returned
to the Company. Empire Sterling Corporation failed  to  return the  share
certificate and as such, the Company commenced court proceedings against  the
principals of Empire Sterling Corporation. The Company  argued for an interim
injunction against all parties and was successful. On May 9, 2002,  the Court
ordered Empire Sterling Corporation to deposit the  shares with the Court
pending judicial disposition.  The Company continued to file legal  process
claiming ownership of the shares and breach of  trust  inter alia.  The  Company
was successful and has now applied to  have  the  share certificate released and
subsequently cancelled.


ITEM 2.   Plan of Operation

This following information specifies certain forward-looking statements of
management of the company. Forward-looking statements are statements that
estimate the happening of future events and are not based on historical fact.
Forward-looking statements may be identified by the use of forward-looking
terminology, such as "may", "shall", "will", "could", "expect", "estimate",
"anticipate", "predict", "probable", "possible", "should", "continue", or
similar terms, variations of those terms or the negative of those terms.  The
forward-looking statements specified in the following information have been
compiled by our management on the basis of assumptions made by management and
considered by management to be reasonable. Our 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 specified in
the following information 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 the following information are accurate, and we assume no obligation
to update any such forward-looking statements.

Our Business.  The company was incorporated as Venture Investments Inc. under
the Laws of the State of Nevada on November 29, 1983.  The company underwent a
name change to Asdar Group on December 10, 1997 and another name change to
Precise Life Sciences Ltd. on April 30, 2002. The company was inactive from 1991
to 1996 and currently has no revenue generating operations.  In accordance with
SFAS #7, the company is considered a development stage company since January 1,
1996.  At September 30, 2002, we had a cash overdraft of $1,134. We primarily
rely on directors and certain shareholders for financing.

Currently, we own certain interests in oil and gas properties.  (See section
entitled "Description of Property" for a more detailed discussion on the oil and
gas properties). Recently, we changed our name from Asdar Group to Precise Life
Sciences Ltd. to reflect the fact that we intend to pursue, as part of our
business, development and commercialization of medical-related technologies
(described more particularly below). We believe that acquiring interests in
medical related technologies will increase the total value of the corporation to
our . As of the date of this quarterly report on Form 10QSB, we had not
identified any particular technology. We are in the process of researching
potential partnerships and acquisitions which may complement our new business
direction. There is no guarantee that we will be able to successfully identify
or acquire technology or enter into relationships which will produce revenue. To
September 30, 2002, we have suffered an accumulated net loss of $14,279,538.
There is no guarantee that we will not continue to suffer significant losses in
the foreseeable future.

Liquidity and Capital Resources.   For the nine-month period ended September 30,
2002, we had total assets of $536,309, including  taxes recoverable of $623,
$176,351 due from related parties and $31,333 as the current portion of $66,584
in prepaid service contracts. We also had $292,751 invested in oil and gas
properties, which is represented by $292,750 for an oil and gas interest located
in Wyoming and $1 for an oil and gas interest located in San Joaquin,
California.  At December 31, 2001, we had total assets of $548,660. The slight
decrease in assets was primarily due to an increase in the amount due to related
parties.

At September 30, 2002, we had current liabilities of $176,066  which was
represented by a bank overdraft of $1,134, accounts payable and accrued
liabilities of $77,211 and $97,721 due to related parties. At December 31, 2001
we had current liabilities of $116,186. The increase over those periods was
primarily due to an increase in funds due to related parties.  At September 30,
2002, we had total current assets of $$208,307.  At September 30, 2002, current
assets exceeded current liabilities by $32,241. At December 31, 2001, our total
current assets exceeded our total current liabilities by $73,723.

We do not believe that our current cash resources will be able to maintain our
current operations for an extended period of time.   We will be required to
raise additional funds or arrange for additional financing over the next 12
months to adhere to our development schedule.  No assurance can be given,
however, that we will have access to additional cash in the future, or that
funds will be available on acceptable terms to satisfy our working capital
requirements. If we are not able to arrange for additional funding or if our
officers, directors and shareholders stop advancing funds to us, we may be
forced to make other arrangements for financing such as loans or entering into
strategic alliances. We have not identified any alternative sources of
financing.

Results of Operations.  We have not yet realized any revenue from operations  to
date.  Loss  from operations decreased from $1,307,723 in the third  quarter  of
2001  to  $209,221 in the third quarter of 2002.  This decrease in the loss  was
largely due to no impairment provisions to our oil and gas interests.

The cash and equivalents constitute our present internal sources of liquidity.
Because we are not generating any significant revenues, our only external source
of liquidity is the sale of our capital stock and any advances from officers,
directors or shareholders.

Our Plan of Operation for the Next Twelve Months.   We will continue to attempt
to arrange for equity financings over the next twelve months to satisfy our
working capital requirements.  However, there is no guarantee that we will be
able to arrange for such financings. Moreover, we have not identified any
sources of financings.

We will require additional cash to implement our business strategies, and for
payment of increased operating expenses.  We anticipate that we will need to
raise additional capital within the next 12 months in order to continue as a
going concern. Such additional capital may be raised through additional public
or private financings, as well as borrowing and other resources.  To the extent
that additional capital is raised through the sale of equity or equity-related
securities, the issuance of securities could result in dilution to our
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 twelve months, we may be required to curtail our operations
significantly or to obtain funds through arrangements with collaborative
partners or others that may require us to relinquish rights to certain of our
assets.

We do not anticipate any significant research and development within the next
twelve months, nor do we anticipate that we will lease or purchase any
significant equipment within the next twelve months.   We do not anticipate a
significant change in the number of our employees within the next twelve months.

During the fiscal year 2002, we intend to focus on providing services related to
animal biotechnology and husbandry by developing a system with worldwide
applicability, whereby animal DNA profiles can be recorded efficiently and
economically.

Through the use of the latest recombinant DNA techniques, we plan to provide DNA
identification for highly valued animals such as thoroughbred horses, purebred
dogs and premium quality cattle. Our goal is to make "Precise Life Sciences"
certification the recognized stamp of safety and quality. We believe that
knowing the precise lineage of these animals can ensure quality, authenticity
and public safety.  Our proposed bar code identification system and DNA
sequencing service will follow the calf all the way to the steak on a consumer's
table. This bar code identification will accompany the meat and any analysis for
pathogens, hormones, contaminants and the information will be contained in the
record of the animal.

We plan on establishing a medical and clinical advisory board, which will
include experienced individuals in the field of animal biotechnology and
husbandry (See Item 5 - Other Information - New Appointments). In addition, we
will be reviewing the applicability of gene scans and mutation tests.

We have not yet identified a company which will provide the DNA technology nor
do we have the resources to internally develop such technology. Our goal is to
identify a company which can provide the resources to develop such technology.
However, our plans are extremely speculative and there is no guarantee that we
will be able to arrange for the necessary funds to develop DNA technology.

ITEM 3.   Description of Property.

Property held by the Company.  As of the dates specified in the following table,
we held the following property in the following amounts:

-------------------------------------------------------------------------------
Property and Cash
Equivalents         September 30, 2001   December 31, 2001   September 30, 2002
-------------------------------------------------------------------------------
Total                     $ 104,151           $  28,266         $   (1,134)
-------------------------------------------------------------------------------

We define cash equivalents as all highly liquid investments with maturity of 3
months or less when purchased.   We do not presently own any interests in real
estate or own any inventory or equipment.


                           PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

LAK Ranch Oil Project.

Rising Phoenix Development Group ("Rising Phoenix"), a former Canadian Exchange
listed company, was the original holder of the 100% LAK Ranch Oil Project which
is subject to the 19.25% royalty due to the original leaseholders.  Derek
Resources Corporation ("Derek"), a Canadian Venture Exchange listed company, had
the right to earn a 75% working interest from Rising Phoenix through various
cash payments and a commitment to a US$3.5 million development program proving
the feasibility of oil recovery using SAGD as originally commissioned by Rising
Phoenix and outlined in reports by Dr. John Donnelly.

In September 2000, we acquired from 2U Online.com Inc., a related company, a 25%
working interest in the LAK Ranch Oil project.  2U Online.com, Inc., acquired
its interest from Rising Phoenix, thus becoming Derek's joint venture partner in
this LAK Ranch Oil Project.

The LAK Ranch Oil Project consists of a steam assisted gravity drainage ("SAGD")
production well and surface facilities which has been developed by Derek
Resources Corporation ("Derek") pursuant to an option agreement dated September
27, 1997 between a predecessor optionor and Derek.  The option agreement
provides, among other terms, that Derek could acquire a 75% interest in the
project by developing a SAGD well pair and surface facility and fund the initial
start up operations for six months at a budgeted cost of $3,500,000.  As at
September 30, 2001, the project was substantially complete, however Derek has
incurred substantial cost overruns of approximately $4,200,000.  Derek is
asserting a contractual right to collect 25% of this cost overrun from us.  We
do not believe we are required to pay such fees.

On March 12, 2001, Derek filed a Notice of Intention to Foreclose in the
District Court, Weston County, State of Wyoming for our alleged to pay our share
of  costs of developing the LAK Ranch Oil Project of approximately $700,000.  We
have denied any liability for these costs which represent huge cost overruns by
Derek  in developing the SAGD pilot plant for which a proper accounting has not
been provided by Derek to date.  We filed a Complaint and Request for Injunctive
Relief in the District Court, Weston County, State of Wyoming on March 20, 2001
to protect our interest in the LAK Ranch Oil Project and prohibit Derek from
illegally foreclosing on our interest pending a final determination by the Court
of the parties' respective rights and obligations under the Sept 27, 1997 option
agreement.

Subsequent to March 12, 2001, various other motions were filed before the Courts
by us and Derek Resources Corporation.

A date had been set for October 31, 2001 to hear all the various motions before
the court, however on October 19, 2001, an agreement was reached with Derek  to
settle the existing litigation on the LAK Ranch Property.  The basis upon  which
each company has agreed to settle the litigation is as follows:

        *    We agreed with Derek to discontinue the respective court actions
             commenced in the State of Wyoming with respect to the LAK Ranch
             Property.

        *    We agreed to release the lis pendins filed against the LAK Ranch
             Property and will quit claim to Derek all of our right, title and
             interest in the property.

        *    Derek will grant to us a 0.70% (.7 of 1%) proportionate, reducible,
             Gross Overriding Royalty over all of Derek's interest in the
             property.  This equates to $0.1575 per barrel based on a price of
             $22.50 per barrel.

        *    Payment of the Royalty is to be retroactive to the commencement of
             production.

        *    If Derek sells any or all interest in the LAK Ranch Property, it
             will pay to us, subject to adjustments, 7.5% of the net sales
             proceeds on the first US$7,500,000 and 1% on any balance over and
             above US$7,500,000.

As at September 30, 2002, we have recorded the carrying value of its interest
in the LAK Ranch Project to the estimated net realizable value of $292,750.

Harvester Property

On February 26, 2001, we acquired a 50% working interest in the Harvester
Prospect, located in the San Joaquin Basin in Kings County, California from
International Brooks Petroleum Ltd.  To date we have paid a total of $611,556 on
the Harvester #1-25 well re-entry program including an acquisition finder's fee
of 50,000 shares valued at $29,250.  All future costs were to be split 50/50
between us and International Brooks Petroleum Ltd.  The re-entry drilling
program was completed in July, 2001 to a total depth of 14,242 feet. Subsequent
logging of the well identified two primary and five secondary completion
targets. We received a cash call for $269,647 as our share of completion costs
for the well and this amount was advanced on October 10, 2001.  The Vedder zone
was initially perforated between 13,264 - 13,360 feet and requires additional
swabbing at a later date prior to confirming flow rates and composition of
fluids. The Temblor zone was perforated between 11,706 - 11,740 feet. After
perforation the well flowed on its own with gas cut fluid. Flow testing of this
well  recommenced in the first half of 2002 and the results were not readily
determinable.

During the shut down period, we were invoiced for cost overruns on the project
to December 31, 2001 in the amount of $50,994 and given a further cash call for
$34,870 for more completion costs.  We requested a full accounting for the
project to make a determination on the cause of cost overruns and on
participating in further expenditures on the well. We asked for certain
documentation to confirm expenditures on the project to date. Although the
operator has provided certain documentation with respect to expenditures, it is
our position that the information provided is insufficient to make a proper
determination.  International Brooks Petroleum has taken the position that we
are in default and alleges that our interest has been forfeited.  Until we are
provided with additional information requested from the operator, we do not
consider the company to be in default of our obligations under the agreement.
However, based on the results of the re-entry program to date, we have written
down our investment in the Harvester Property to a nominal value of $1.

On  September  23,  2002, the Company and International  Brooks  Petroleum  Ltd.
agreed to settle their differences as follows:

  1. International Brooks Petroleum Ltd. agrees to reserve and pay Precise Life
     Sciences Ltd., monthly, an amount equal to 2% of the gross proceeds
     received from the sale of any hydrocarbons obtained from the Property for
     the prior month. This Royalty Interest shall continue until the later of:

       a)   International Brooks' rights in the Property, pursuant to the Lease
            dated May 1, 2000 and all amendments thereto, are terminated ; or

       b)   any subsequent interest in the Property acquired by International
            Brooks or any associate or affiliate thereof is terminated.

     At such time, the Royalty Interest shall terminate and be of no further
     force or effect.  At such time as hydrocarbons are obtained from the
     Property, International Brooks agrees to register the Royalty Interest with
     the appropriate regulatory authorities in favor of Precise Life.

  2. Precise Life, in consideration of the Royalty Interest to be reserved by
     International Brooks in favor of Precise Life, agrees to terminate any
     interest it had, has or may have in the Property pursuant to the Agreement.

  3. Each Company does remise, release and forever discharge each other and its
     respective successors or      assigns, from all actions, causes of  action,
     claims and demands which each Company had, now has or will have. This
     includes any arrears of exploration expenditures which have not been paid
     by Precise Life and any costs which may be  incurred to plug and abandon
     the Harvester #1-25 well located on the Property.

Investment in ACGT Corporation

On January 11, 2002, we  signed an agreement with Bisell Investments Inc.,
Y.E.N.N. Asset Management, certain officers, directors and employees of the
Company and Travellers Internationl Inc. whereby we acquired the right to
purchase 31.6% of Toronto based biotechnology Company, ACGT Corporation, with
the ability  to acquire a further interest as warranted by the developments of
ACGT Corporation. We purchased the rights to purchase the interest in ACGT in
exchange for the issuance of eight (8) million restricted shares of our common
and the commitment of  $5,000,000 in funding over an eight month period for
corporate development and working capital within the three divisions of ACGT
Corporation.  The funding was to be advanced as follows: March 8, 2002
($1,000,000, was not paid), June 28, 2002 ($2,000,000) and October 28, 2002
($2,000,000). A refundable deposit of $20,000 was paid on February 18, 2002.A
due diligence review of ACGT Corporation was to be completed by March 8, 2002.
On March 8, 2002, we still had not received all the requested information to
complete the due diligence process.  On March 11, 2002, without any prior
written notice, we received a letter from ACGT Corporation stating that the
agreement and all subsequent amendments were null and void due to non payment of
the March 8, 2002 commitment. We advised with ACGT Corporation that the due
diligence process was not complete and it must forward the requested information
prior to the release of any further funds.  We are attempting re-negotiate the
transaction with ACGT Corporation and in the interim we have received our
February 18, 2002 deposit.  We issued eight (8) million restricted common shares
to various parties to acquire the rights. Of the eight (8) million restricted
common shares, 4,375,000 were issued to arms length third parties, 2,500,000
were issued to a Company associated with a significant shareholder,525,000 were
issued to a Company controlled by a significant shareholder , 400,000 were
issued to directors and 200,000 were issued to employees of the Company.
Subsequently, four (4) million of the eight (8) million restricted common shares
were cancelled and returned to treasury. These four (4) million cancelled
restricted common shares were previously issued to arms length third parties.
Due to the inability to complete the terms of the assignment agreement, the
Company has written off the acquisition costs totaling $1,406,000.

On February 21, 2002, we issued 350,000 shares valued at $119,000 to Empire
Sterling Corporation for services to be rendered and future services related to
the acquisition of a biomedical project.  The shares were to be held in trust
and not sold until all necessary financings were concluded to complete the
acquisition. Empire Sterling Corporation breached the trust agreement and we
placed a stop transfer on the shares and requested they be returned to the
Company.  Empire Sterling Corporation failed to return the share certificate and
as such, we commenced court proceedings to retrieve the shares. We requested an
interim injunction against all parties and were successful. On May 9, 2002, the
Court ordered Empire Sterling Corporation to deposit the shares with the Court
pending judicial disposition.  We intend to file legal process claiming
ownership of the shares and breach of trust interalia. The Company was
successful and has now applied to have the share certificate released and
subsequently cancelled.

On June 5, 2002, we cancelled an additional 100,000 restricted common shares
previously issued to an individual in connection with the ACGT Corporation
biomedical project.

Item 2. Changes in Securities.

  (a)  On September 5, 2002, we issued to the individuals and entities listed
       below shares for debt settlement, in the amount of $169,600. The accrued
       debt was comprised of $ 16,000 in salaries and $ 153,600 for outside
       professional and consulting services performed for the Company. The
       shares were issued at $0.05 per share, equivalent to a 40% discount to
       the 5-day average market price of $0.0786 per share.


                       May Joan Liu               250,000
                       Stephen Liu                500,000
                       Andy Chu                   500,000
                       Joseph Beyrouti            670,000
                       John MacAskill             200,000
                                                =========
                       Total Shares             2,120,000


  (b)  On September 5, 2002, we issued a total of 400,000 restricted common
       shares to the Company's Scientific Advisory Board Members for services
       performed and to be performed for the Company.  These shares were issued
       at a fair market value of $0.08 per share.

  (c)  On September 5, 2002, we issued 6,000 common shares to a private placee.
       These shares were previously subscribed for at $0.50 per share on July
       12, 2001.


Item 3. Defaults Upon Senior Securities.

        None.

Item 4. Submission of Matters to Vote of Security Holders

        None.

Item 5. Other Information

A. Security Ownership of Management

The following table sets forth information as of September 30, 2002 with respect
to the ownership of our common stock by each director and by all officers and
directors as a group.

<table>
<caption>

                  <c>                             <c>                     <c>

Name of              Address of                      Amount of Shares        % of Outstanding
Beneficial Holder    Beneficial  Holder              Beneficially Owned      Common Stock
---------------------------------------------------------------------------------------------
Robert Waters        2025-1388 W. Georgia St               50,000                  0.19%
                     Vancouver, BC V7T 1A8

Robert Klein         4540 Woodgreen Place                  50,000                  0.19%
                     West Vancouver, BC V7S 2S6
                                                          =======                  =====
All   directors   and  Officers  as   a   group           100,000                  0.38%


B. Security Ownership of Certain Beneficial Holders of ten percent or more

Name of              Address of                      Amount of Shares        % of Outstanding
Beneficial Holder    Beneficial  Holder              Beneficially Owned      Common Stock
---------------------------------------------------------------------------------------------
Common Stock         2U Online.com, Inc.                4,755,039 (1)             17.83%
                     1288 Alberni Street, Suite 806
                     Vancouver, BC  V6E 4N5

</table


(1)   The shares issued to 2U Online.com, Inc. were for the acquisition  of  the
      LAK  Ranch Property. 2U Online.com, Inc. is a reporting company whose
      shares are traded on the OTC:BB

C. Certain Relationships and Related Party Transactions

During the nine months ended September 30, 2002, the Company incurred salaries
of $43,000 to two directors and a former director. In addition, the Company
issued 168,000 common shares to a director in payment for salaries expense
incurred on behalf of the Company totaling $ 57,120.

During the nine months ended September 30, 2002 the Company incurred consulting
fees of $23,400 to private companies controlled by a significant shareholder.

During the nine months ended September 30, 2002 the Company issued 62,500 common
shares for consulting services valued at $8,750 to a Company associated with a
significant shareholder, 100,000 common shares for consulting services valued at
$34,000 to a significant shareholder and 250,000 common shares for consulting
services valued at $85,000 to a private Company controlled by a significant
shareholder. In addition, the Company issued 375,000 common shares for
consulting services valued at $52,500, 123,888 common shares for re-imbursement
of expenses valued at $17,344, and 106,250 common shares for repayment of a loan
in the amount of $14,875 to an employee of the Company.

During the nine months ended September 30, 2002 the Company issued 2,500,000
restricted common shares valued at $825,000 to a Company associated with a
significant shareholder 525,000 restricted common shares valued at $173,250 to a
Company controlled by a significant shareholder, 400,000 restricted common
shares valued at $132,000 to three directors and 200,000 restricted common
shares valued at $66,000 to two employees as part of the acquisition of certain
rights to a biomedical project.

During the nine months ended September 30, 2002 the Company issued 750,000
shares for consulting services valued at $60,000 to two significant shareholders
and 870,000 shares for salary, consulting and other expenses valued at $ 69,600
to two employees.

At  September 30, 2002 an amount of $176,351 is owing from a public Company  and
its  subsidiary, with a director in common, an amount of $81,721 is owing  to  a
significant shareholder and $16,000 is owing to one director for accrued salary.
These amounts are non interest bearing and have no specific terms of repayment.


D. New Appointments

(a) Appointments to the Scientific Advisory Board.

On July 23, Dr. Harvey Hoyt was appointed Chairman of the Scientific Advisory
Board. Joining Dr. Hoyt on the Board are Dr. Stephen Blezinger and Mr. Humberto
Reyes.

HARVEY J. HOYT, M.D.

Dr. Hoyt has had increasing levels of responsibility in the Pharmaceutical
Industry (therapeutics, in vitro diagnostics and biologics) in R & D, technical
development, business development and general management at the COO and CEO
levels, both in major and start-up companies. He has had P&L responsibilities,
formulated strategic and operational business plans, developed organizations,
partnered with industry and universities, licensed products in and out, raised
investments for start-ups, and as CEO took a start-up public and has been
involved in over $200 million private and public equity funding. Dr. Hoyt has
played key roles in gaining FDA approval of eighty two (82) 510K and nineteen
(19) new drug (NDA) and PMA applications. These products have annual sales in
excess of seven (7) billion. He has been CEO of two public and four private
companies, has led two IPO's and participated in numerous corporate deals.

STEVEN B. BLEZINGER, PHD, P.A.S.

Dr. Blezinger received a PhD in nutrition from Texas A&M University. He's an
expert on bovine feeding, metabolism and beef quality assurance programs. Dr.
Blezinger has been a consultant to the cattle industry both domestically and
internationally. He is a contributing editor to Cattle Today (industry trade
newspaper) and Santa Gertrudis USA (Santa Gertrudis Breeders International
Association magazine) and Limousin World (Limousin Breeders Association
Magazine), Limousin Voice (Canadian Limousin Association), Maine Monitor (Maine
Anjou Breeders Association) as well as a number of other popular press
periodicals. He has numerous professional publications and distinguished oral
presentations.

Humberto Reyes, B.S., CEM

Mr. Reyes has more than 25 years of progressive management experience in a
variety of industries including VP of Manufacturing, Dade Division at Baxter,
VP/GM Chromatography Division, Varian and Associates and Senior VP at
Microgenics Corporation, a biotechnology corporation and most recently,
President & CEO Oxis Health Products Inc., a biotechnology company in Portland,
Oregon. Mr. Reyes is also a former member and chair of the Board of Directors of
Response Biomedical, a biotechnology company in Vancouver, Canada.

        (b) Appointment of New Officer.

                On July 23, Robert Waters, currently a director of the
                Registrant, was re- appointed President.

        (c) Resignation of Officer and Director

On July 23, 2002, the Registrant accepted the resignation of Conrado Beckerman
as President and Director of the Registrant. The resignation was not motivated
by a disagreement with the Registrant on any matter relating to the Registrant's
operations, policies or practices. Mr. Beckerman has elected to focus on his
other business interests.

Item 6.  Exhibits and Form 8-K's.

Index to Exhibits

 (i) Exhibits

       None.

(ii) The following documents are incorporated by reference in this Form 10-QSB:

  A.   Our Form 8-K filed July 25, 2002 announcing the appointments of Dr.
       Harvey Hoyt, Dr. Steve Blezinger and Mr. Humberto Reyes to the Scientific
       Advisory Board, the resignation of Conrado Beckerman as President and
       Director and the re- appointment of Robert Waters as President.

                                   SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, we
have duly caused this Quarterly Report on Form 10-QSB to be signed on our behalf
by the undersigned; thereunto duly authorized, in the City of Vancouver, British
Columbia, Canada, on November 13, 2002.

Precise Life Sciences Ltd.
a Nevada corporation

By:      /s/ Robert Waters
             Robert Waters

Its:     President


                                 CERTIFICATION


                        CERTIFICATION OF PERIODIC REPORT
I, Robert Waters, President and Chief Executive Officer of Precise Life Sciences
Ltd., a Nevada Corporation (the "Company"), certify, pursuant to Section 906 of
the Sarbanes- Oxley Act of 2002, 18 U.S.C. Section 1350, that:
(1) the Quarterly Report on Form 10-Q of the Company for the quarterly period
ended September 30, 2002 (the "Report") fully complies with the requirements of
Section 13(a) or
15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and
(2) the information contained in the Report fairly presents, in all material
respects, the financial condition and results of operations of the Company.
Dated: November 13, 2002

/s/ Robert Waters
    ---------------
    Robert Waters
    President and Chief Executive Officer




                        CERTIFICATION OF PERIODIC REPORT


I, Robert Klein, Secretary, Treasurer, and the Chief Financial Officer of
Precise Life Sciences Ltd., a Nevada Corporation (the "Company"), certify,
pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C.
Section 1350, that:
(1) the Quarterly Report on Form 10-Q of the Company for the quarterly period
ended September 30, 2002 (the "Report") fully complies with the requirements of
Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or
78o(d)); and
(2) the information contained in the Report fairly presents, in all material
respects, the financial condition and results of operations of the Company.
Dated: November 13, 2002


/s/ Robert Klein
    ---------------
    Robert Klein

Secretary, Treasurer and Chief Financial Officer

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