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


                  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
                                 JUNE 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               V6E 4R8
          Vancouver, 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 June 30, 2002  there
were 24,140,319 shares of the issuer's $0.001 par value common stock issued
and outstanding.



                                      INDEX


                                                                           Page
Part I.          FINANCIAL INFORMATION

Item 1. FINANCIAL STATEMENTS..........................................F-1 - F-3

        BALANCE SHEETS......................................................F-1

        INTERIM STATEMENTS OF OPERATIONS....................................F-2

        INTERIM STATEMENTS OF CASH FLOWS....................................F-3

NOTES TO INTERIM FINANCIAL STATEMENTS.................................F-4 - F-9

Item 2. Managements Discussion and Analysis of Financial Condition
        And Results of Operations.............................................2

ITEM 3. Description Of Property...............................................5

Part II.        OTHER INFORMATION

Item 1. Legal Proceedings.....................................................6

Item 2. Changes in Securities and Use of Proceeds.............................9

Item 3. Defaults Upon Senior Securities.......................................9

Item 4. Submission of Matters to a Vote of Security Holders...................9

Item 5. Other Information....................................................10

Item 6. Exhibits, Financial Statement Schedules and Reports on Form 8-K......11

SIGNATURES...................................................................12



                      PART I - FINANCIAL INFORMATION


Item 1.   Financial Statements


<PAGE>F-1


                           PRECISE LIFE SCIENCES LTD.
                             (formerly Asdar Group)

                          (A Development Stage Company)

                          INTERIM FINANCIAL STATEMENTS

                                  JUNE 30, 2002

                                   (Unaudited)





                           PRECISE LIFE SCIENCES LTD.
                             (formerly Asdar Group)

                          (A Development Stage Company)

                                 BALANCE SHEETS


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

CURRENT ASSETS
 CASH                                              $       747  $    28,266
 Taxes recoverable                                       1,479        2,707
 Advances receivable                                         -          163
 Due from related parties (Note 7)                     167,016      127,440
 Current portion of service contracts                   31,333       31,333
                                                    ----------   ----------
                                                       200,575      189,909

SERVICE CONTRACTS (Note 4)                              43,085       58,750
OIL AND GAS PROPERTIES (Note 3)                        292,751      300,001
                                                    ----------   ----------

                                                   $   536,411  $   548,660
                                                    ==========   ==========


                 LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
 Accounts payable and accrued liabilities            $ 130,597    $ 116,186

 Due to related parties (Note 7)                        37,950            -
                                                    ----------   ----------

                                                     $ 168,547    $ 116,186
                                                    ----------   ----------
CONTINGENCIES (Notes 1 and 6)

STOCKHOLDERS' EQUITY (Note 4)
  Common stock, $.001 par value,
  50,000,000 shares authorized
  24,140,319 (2001 - 11,211,707)
  shares issued and outstanding                         24,140       13,724
 Additional paid-in capital                         14,411,041   11,481,869

 Common stock subscriptions                              3,000      633,000
 Deficit accumulated during the development stage  (14,070,317) (11,696,119)
                                                    ----------   ----------

                                                       367,864      432,474
                                                    ----------   ----------

                                                   $   536,411  $   548,660
                                                    ==========   ==========

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


<PAGE>F-2

                           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            Six              Six            from
                                                  Months        Months         Months           Months       January 1,
                                                   ended         ended          ended            ended         1996 to
                                                June 30,      June 30,        June 30,         June 30,        June 30,
                                                    2002          2001           2002             2001            2002
                                              ----------    ----------     ----------       ----------      ----------

EXPENSES
 Litigation settlement                      $          -  $          -   $          -     $          -    $  2,291,070
 Management and consulting fees                  601,392        49,688        616,484          177,415       1,464,310
 General and administrative                      135,531       107,884        256,736          177,515       1,051,680
 Professional fees                                28,118        83,547         43,246          110,751         552,712
 Interest Expense                                 24,888             -         51,732                -          97,429
 Software development costs                            -             -              -                -         737,300
 Write-down of oil and gas properties                  -             -              -                -       2,009,183
 Write-off of ACGT interest (Note 5)             (33,000)                   1,406,000                -       1,406,000
                                              ----------    ----------     ----------       ----------      ----------
NET LOSS FOR THE PERIOD                     $    756,929  $    241,119   $  2,374,198     $    465,681    $  9,609,684
                                              ==========    ==========     ==========       ==========      ==========



BASIC NET LOSS PER SHARE                    $       0.03  $       0.02   $       0.12     $       0.04

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING    21,682,430    11,209,509     19,357,640       10,992,739
                                              ==========    ==========     ==========       ==========

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

</table>


<PAGE>F-3

                           PRECISE LIFE SCIENCES LTD.
                             (formerly Asdar Group)

                          (A Development Stage Company)

                        INTERIM STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<table>
<caption>

                                                             <c>            <c>            <c>

                                                                                               Cumulative
                                                                       Six             Six           from
                                                                    Months          Months      January 1,
                                                                     ended           ended        1996 to
                                                                   June 30,        June 30,       June 30,
                                                                      2002            2001           2002
                                                                ----------      ----------     ----------

CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period                                      $  (2,374,198)    $  (465,681)  $ (9,609,684)

Adjustments  to  reconcile  net  loss  to  net  cash   from
operating activities:
- fees and services paid for with common shares                    775,413         167,200      1,733,812
- interest paid for with common shares                              32,925               -         80,872
- software development costs paid for with common shares                 -               -        600,000
- write-down of interest in oil and gas properties                       -               -      2,009,183
- write down of interest in ACGT Corporation                     1,406,000               -      1,406,000
- other non-cash expenses                                                -               -      2,557,382
                                                                ----------      ----------     ----------

                                                                  (159,860)       (298,481)    (1,222,435)
- net changes in working capital items                              31,467          66,029         64,382
                                                                ----------      ----------     ----------

CASH USED IN OPERATING ACTIVITIES                                 (128,393)       (232,452)    (1,158,053)
                                                                ----------      ----------     ----------
CASH FLOWS FROM INVESTING ACTIVITIES
Oil and gas property acquisitions                                        -       (300,000)      (684,934)
                                                                ----------      ----------     ----------
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds on sale of common stock                                     -               -        445,000
Net proceeds from common stock subscriptions                             -         805,000        633,000
Net advances (to) from related parties                             100,874        (88,180)        345,734
Advances receivable                                                      -          49,000        420,000
                                                                ----------      ----------     ----------

CASH FLOWS FROM FINANCING ACTIVITIES                               100,874         765,820      1,843,734
                                                                ----------      ----------     ----------

INCREASE (DECREASE) IN CASH                                        (27,519)        233,368            747

CASH, BEGINNING OF PERIOD                                           28,266           6,056              -
                                                                ----------      ----------     ----------
CASH, END OF PERIOD                                          $         747   $     239,424  $         747
                                                                ==========      ==========     ==========
</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.

  During  the  current period, 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).

  During  the  current period, 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.

  During  the current period, the Company issued 350,000 common shares  for
  outstanding consulting fees totalling $119,000.

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


<PAGE>F-4

                         PRECISE LIFE SCIENCES LTD.
                           (formerly Asdar Group)

                       (A Development Stage Company)

                   NOTES TO 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 six months ended June 30,  2002  are  not
necessarily  indicative of the results that may be expected  for  the  year
ending December 31, 2002.

<PAGE>F-5

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.

<PAGE>F-6

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.

<PAGE>F-7

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 $50,994  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.

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
June  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.

<PAGE>F-8

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 June  30,  2002  the
prepaid portion of the service contracts totaled $74,417.


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.

<PAGE>F-9


NOTE 6 - CAPITAL STOCK - con't.


During the six months ended June 30, 2002, the Company issued the following
shares:

<table>
<caption>

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

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

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


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

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

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

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

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

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

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


Net  loss for the six months ended June                  -            -              -            -     (2,374,198)   (2,374,198)
30, 2002                                        ----------    ---------   ------------   ----------   -------------   ----------

Balance, June 30, 2002                          24,140,319       24,140     14,411,041        3,000    (14,070,317)      367,864
                                                ==========    =========   ============   ==========   =============   ==========

</table>


NOTE 7 - RELATED PARTY TRANSACTIONS

During the six months ended June 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  six months ended June 30, 2002 the Company incurred consulting
fees   of   $15,600  to  private  companies  controlled  by  a  significant
shareholder.

During  the six months ended June 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. (See Note 6)

During  the  six  months ended June 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).

At  June 30, 2002 an amount of $167,016 is owing from a public Company  and
its subsidiary, with a director in common, an amount of $33,950 is owing to
a  company controlled by a significant shareholder and $4,000 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.


<PAGE>2

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 June 30, 2002, we  had
cash  of $747. 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.. The reason for the name change was  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 June 30,  2002,  we  have  suffered  an
accumulated net loss of $14,070,317. There is no guarantee that we will not
continue to suffer significant losses in the foreseeable future.

<PAGE>3

LIQUIDITY AND CAPITAL RESOURCES.   For the six-month period ended June  30,
2002,  we  had total assets of $536,411, including cash resources of  $747,
taxes  recoverable of $1,479, $167,016 due from related parties and $31,333
as  the current portion of 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. The long term portion of service contracts  is
$43,085. At December 31, 2001, we had total assets of $548,660. The  slight
increase in assets was primarily due to an increase in the amount due  from
related parties.

At  June  30,  2002,  we  had current liabilities  of  $168,547  which  was
represented  by  $130,597 in accounts payable and accrued  liabilities  and
$37,950  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 June 30, 2002, we  had
total  current  assets  of  $200,575.  At June  30,  2002,  current  assets
exceeded  current liabilities by $32,028. 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 increased from $241,119  in  the
second  quarter of 2001 to $756,946 in the second quarter  of  2002.   This
increase in the loss was largely due to additional outside consulting  fees
incurred   by   the  Company  in  relation  to  developing  a   DNA   based
identification  and tracking system for animals. (See discussion  below  in
the section entitled "Our Plan of Operation for the Next Twelve Months").

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.

<PAGE>4

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  -  Subsequent  Events).  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.

<PAGE>5

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       June 30, 2001    December 31, 2001    June 30, 2002
-----------------    -------------    -----------------    -------------
Total                  $239,424            $28,266              $747


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.

<PAGE>6

                        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 June 30, 2002, we had written down the carrying value of its interest
in the LAK Ranch Project to the estimated net realizable value of $292,750.

<PAGE>7

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.

<PAGE>8

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.

<PAGE>9

ITEM 2. CHANGES IN SECURITIES.

  (a)   On  April 23, 2002, we issued by way of an amended S-8 Registration
     Statement,  350,000  common  shares  at  a  price  of  $0.25 per share
     representing  a  25%  discount  to  the  market price in settlement of
     outstanding consulting fees as follows:

                    Palisades Financial Ltd. 250,000
                    May Joan Liu             100,000
                                             -------
                    Total shares             350,000
                                             =======



  (b)   On  May 21, 2002, we issued to the individuals and entities  listed
     below shares for debt  settlement,  in  the  amount  of  $601,610. The
     accrued  debt  was  comprised  of  $ 73,500  in salaries, $ 43,360  in
     payments  made  on  behalf  of  the  Company,  $ 469,875  for  outside
     professional and consulting services performed  for  the  Company  and
     $14,875 for loans made to the Company. The shares were issued at $0.08
     per share, equivalent to a 40% discount to the  4-day  average  market
     price of $0.14125 per share.

               Holm Investments Ltd.                531,250
               Mo Ching Chan                        185,825
               Domain Land Holdings Ltd.            312,500
               E-Vista Commerce Ltd.                687,500
               Joseph Beyrouti                      605,138
               Inter Orient Investments Ltd.        587,500
               J & S Overseas Holdings Ltd.         531,250
               Y.E.N.N.Asset Management              62,500
               Compte de Sierge Accomodative Corp.  375,000
               Robert Jarva                          62,500
               Erzsebet Kiss                         62,500
               Crownhaven Ltd.                       62,500
               Etelka Mehes                          31,250
               Otione Nemedi                         31,250
               John MacAskill                        75,000
               Amazonas Systems Funding Inc.         93,750
                                                  ---------
               Total Shares                       4,297,313
                                                  =========

  (c)   On June 5, 2002, we cancelled a total of 100,000  restricted common
     shares   previously  issued  as  settlement  of  outstanding  services
     performed  and  to  be  performed  for  the Company. These shares were
     issued to an individual no longer associated with the Company.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4.  SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS

  On April 3, 2002, our Board of Directors unanimously approved, subject to
shareholder approval, an amendment to our Amended and Restated Articles  of
Incorporation to change our corporate name to Precise Life Sciences Ltd. On
April  4,  2002,  11 shareholders representing 8,396,139 shares  of  common
stock  or  53.84%  approved  the name change by  action  taken  by  written
consent.   The   amendment  to  our  Amended  and  Restated   Articles   of
Incorporation became effective April 30, 2002 upon filing with  the  Nevada
Secretary  of State a Certificate of Amendment to our Amended and  Restated
Articles of Incorporation.

<PAGE>10

ITEM 5.  OTHER INFORMATION

A. Security Ownership of Management

The following table sets forth information as of June 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                 0.21%
                       Vancouver, BC V7T 1A8

Robert Klein           4540 Woodgreen Place                   50,000                 0.21%
                       West Vancouver, BC V7S 2S6

Conrado Beckerman      P.O. Box 34432 StnD.                  300,000                 1.24%
                       Vancouver, B.C.
                       V6J 4W4

All  directors  and  Officers  as  a  group                  400,000                 1.66%


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

                                                         Amount and Nature
Title  of  Class       Name of Beneficial Owner          of Beneficial Owner   Percent of Class
------------------     ------------------------------    -------------------   ----------------

Common Stock           2U Online.com, Inc.                 4,815,039 (1)            19.95%
                       1288 Alberni Street, Suite 806
                       Vancouver, BC  V6E 4N5



Common  Stock          Y.E.N.N. Asset Management           2,500,000 (2)            10.36%
                       Buckingham Square - Penthouse
                       Seven Mile Beach, West Bay Rd.
                       Cayman Islands, BWI

</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 Pink Sheets.

(2)   The shares issued to Y.E.N.N. Asset Management  (2,500,000  restricted
      common shares) were  for  the  acquisition  of  an  interest  in  ACGT
      Corporation.


C. Certain Relationships and Related Party Transactions

During  the six months ended June 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.

During  the  six  months ended June 30, 2002 the Company incurred consulting
fees of $15,600 to private companies controlled by a significant shareholder.

During  the  six months ended June 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  six  months  ended June 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.

At June 30, 2002 an amount of $167,016 is owing from a  public  Company  and
its subsidiary,  with a director in common, an amount of $33,950 is owing to
a company controlled by a significant shareholder and $4,000 is owing to one
director for accrued salary. These amounts are non interest bearing and have
no specific terms of repayment.


D.Subsequent Events

(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.

<PAGE>11

ITEM 6.  EXHIBITS AND FORM 8-K'S.

INDEX TO EXHIBITS

(i) Exhibits

Exhibit 99.01 - Certification of Periodic Report of Chief Executive
                Officer.

Exhibit 99.02 - Certification of Periodic Report of the Chief Financial
                Officer.

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

  A. Our Form 8-K filed April 5, 2002 announcing the appointment of Conrado
     Beckerman as President and Director, the resignation of Robert Waters
     as President, the renegotiations of our transaction with ACGT
     Corporation and the resignation of Dr. Hai Shien Chen as a Director.

  B. Our  Form 8-K filed May 3, 2002 announcing the change of name  from
     Asdar Group to Precise Life Sciences Ltd. and the change of trading
     symbol and cusip number.

  C. 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.

<PAGE>12

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 August 19, 2002.

Precise Life Sciences Ltd.
a Nevada corporation

By:  /s/ Robert Waters
         ---------------
         Robert Waters

Its:     President