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

              QUARTERLY REPORT FOR SMALL BUSINESS ISSUERS SUBJECT
                    TO THE 1934 ACT REPORTING REQUIREMENTS

                                  FORM 10-QSB

                    U.S. SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, DC 20549

                                  (Mark One)

          [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                 For the quarterly period ended MARCH 31, 2002

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

          For the transition period from ___________ to ___________.

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

                        Commission File Number: 0-13597


                          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, British Columbia, Canada            V6E 4R8
      (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 March 31, 2002 there were 19,593,106 shares of the issuer's $.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

                                MARCH 31, 2002

                                  (Unaudited)

    Contents                                  Page
    --------                                 ------
    BALANCE SHEETS.............................F-2

    INTERIM STATEMENTS OF OPERATIONS...........F-3

    INTERIM STATEMENTS OF CASH FLOWS...........F-4

    NOTES TO INTERIM FINANCIAL STATEMENTS......F-5,6


<PAGE>F-1

                          PRECISE LIFE SCIENCES LTD.
                            (formerly Asdar Group)

                         (A Development Stage Company)

                                BALANCE SHEETS

<table>
<caption>

                                                                  <c>                 <c>

                                                                       March 31,         December 31,
                                                                         2002                2001
                                                                     (Unaudited)
ASSETS

CURRENT ASSETS
        Cash                                                      $       24,000       $       28,266
        Taxes recoverable                                                    827                2,707
        Advances receivable                                                    -                  163
        Due from related parties (Note 7)                                169,409              127,440
        Current portion of service contracts                              31,332               31,333
                                                                    ------------          -----------
                                                                         225,568              189,909

SERVICE CONTRACTS (Note 4)                                                50,918               58,750
OIL AND GAS PROPERTIES (Note 3)                                          292,751              300,001
                                                                    ------------          -----------
                                                                  $      569,237       $      548,660
                                                                    ============          ===========

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
        Accounts payable and accrued liabilities                  $      119,091       $      116,186
        Due to related parties (Note 7)                                   12,965                    -
                                                                    ------------          -----------
                                                                         132,056              116,186
                                                                    ------------          -----------
CONTINGENCIES (Notes 1 and 8)

STOCKHOLDERS' EQUITY (Note 6)
        Common stock, $.001 par value, 50,000,000
        shares authorized
                19,593,106 shares issued and outstanding                  19,593               13,724
        Additional paid-in capital                                    13,727,976           11,481,869
     Common share subscriptions                                            3,000              633,000
        Deficit accumulated during the development stage            (13,313,388)         (11,696,119)
                                                                    ------------          -----------
                                                                         437,181              432,474
                                                                    ------------          -----------
                                                                  $      569,237       $      548,660
                                                                    ============          ===========

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

</table>

<PAGE>F-2

                          PREFCISE LIFE SCIENCES LTD.
                            (formerly Asdar Group)

                         (A Development Stage Company)

                       INTERIM STATEMENTS OF OPERATIONS

                                  (Unaudited)

<table>
<caption>

                                                     <c>               <c>                 <c>
                                                                                              Cumulative
                                                        Three Months      Three Months        from January 1,
                                                        ended March       ended               1996 to March
                                                        31, 2002          March 31, 2001      31, 2002
                                                        ------------      --------------      ---------------



EXPENSES
        Litigation settlement                         $            -      $            -      $     2,291,070
        Management and consulting fees                        15,092             145,727              862,918
        Genral and administrative                            121,205              51,631              916,149
        Professional Fees                                     15,128              27,204              524,594
        Interest expense                                      26,844                   -               72,541
        Software development costs                                 -                   -              737,300
        Write-down of oil and gas properties                       -                   -            2,009,183
        Write-down of ACGT interest (Note 5)               1,439,000                   -            1,439,000
                                                          ----------         -----------         ------------
NET LOSS FOR THE PERIOD                               $    1,617,269      $      224,562      $     8,852,755
                                                          ==========         ===========         ============



BASIC NET LOSS PER SHARE                              $        0.095      $        0.021
                                                          ==========         ===========
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING                16,943,579          10,739,885
                                                          ==========         ===========

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
                                                        Three Months      Three Months        from January 1,
                                                        ended March       ended               1996 to March
                                                        31, 2002          March 31, 2001      31, 2002
                                                        ------------      --------------      ---------------
CASH FLOWS FROM OPERATING ACTIVITIES
        Net loss for the period                         $ (1,617,629)     $   (224,562)       $ (8,853,115)
        Adjustments to reconcile net loss to net
         cash from operating activities:
        - services paid for with common shares               282,677           167,200           1,241,076
        - interest paid for with common shares                26,550                 -              74,497
        - 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                                      1,320,000                 -           1,320,000
        - other non-cash expenses                                  -                 -           2,557,382
                                                          ----------         ---------          ----------
                                                              11,598           (57,362)         (1,050,977)

        - net changes in working capital items               (44,868)          (87,247)            (19,203)
                                                          ----------         ---------          ----------
CASH USED IN OPERATING ACTIVITIES                            (33,270)         (144,609)         (1,070,180)
                                                          ----------         ---------          ----------
CASH FLOWS FROM INVESTING ACTIVITIES
        Oil and gas property acquisitions                      7,250          (311,189)           (677,684)
                                                          ----------         ---------          ----------

CASH FLOWS FROM FINANCING ACTIVITIES
   Net proceeds on sale of common stock                      630,000                             1,075,000
        Net proceeds from common stock subscriptions        (630,000)          630,000               3,000
        Net advances from related parties                     29,004            60,000             273,864
        Advances receivable                                        -            (6,300)            420,000
                                                          ----------         ---------          ----------
CASH FLOWS FROM FINANCING ACTIVITIES                          29,004           683,700           1,771,864
                                                          ----------         ---------          ----------
INCREASE (DECREASE) IN CASH                                   (4,266)          227,902              24,000

CASH, BEGINNING OF PERIOD                                     28,266             6,056                   -
                                                          ----------         ---------          ----------
CASH, END OF PERIOD                                     $     24,000        $  233,958         $    24,000
                                                          ----------         ---------          ----------
</table>

Other Non-Cash Transactions:

    During the current period, the Company issued 916,108 common shares in
settlement of outstanding debts totalling $311,476.

    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.

        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
                                MARCH 31, 2002
                                  (Unaudited)

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, the
disposition of its outstanding litigation with Derek Resources (see Note 6) 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, 2000 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 three
months ended March 31, 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.

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.

<PAGE>F-6

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 is
scheduled to recommence in the first quarter of 2002.

        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.
Refer to Note 8.

        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 December 31, 2001 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 March 31,
2002 the prepaid portion of the service contracts totaled $82,250.

<PAGE>F-7

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, 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 eight (8) million 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 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 with 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 its February 18, 2002. The Company 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 400,000 were issued to directors and 200,000 were
issued to employees of the Company. ( See Note 7).  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 compete the term of the assignment,the Company has written off
the acquisition costs totaling $1,439,000.

NOTE 6 - CAPITAL STOCK

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

      During the quarter ended March 31, 2001 the Company issued a total of
1,000,000 shares previously subscribed for at $0.70 per share.

       At March 31, 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-8

NOTE 7 - RELATED PARTY TRANSACTIONS

        During the quarter ended March 31, 2002 the Company issued 168,000
common shares to a director in payment for salaries expense incurred on behalf
of the Company totalling $ 57,120. At March 31, 2002 the Company owes $14,000
in salaries to two directors.

        During the quarter ended March 31, 2002 the Company incurred
consulting fees of $7,800 to private companies controlled by a significant
shareholder.

        During the quarter ended March 31, 2002 the Company issued 2,500,000
restricted common shares valued at $825,000 to a Company associated with a
significant shareholder, 525,000 resircted common shares valued at $173,250
toa 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 March 31, 2002 an amount of $169,409 is owing from two companies
with a director in common and an amount of $1,035 is owing from a company
controlled by a significant shareholder.

NOTE 8 - CONTINGENCY

        On February 21, 2002, the Company issued 350,000 shares valued at
$119,000 to Empire Sterling Corporation 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 intends to file legal process
claiming ownership of the shares and breach of trust inter alia. If
successful, the Company intends to cancel the shares and return them to
treasury.

NOTE 9 - SUBSEQUENT EVENTS

        In April 2002, the Company issued 350,000 shares of common stock at a
price of $.25 per share representing a 25% discount to the market price in
settlement of outstanding consulting fees.  The Company registered these shares
for trading by way of an amended S-8 Registration Statement filed on April 24,
2002.

On April 30, 2002, the Company filed and amendment to its Amended and Re-
stated Articles of Incorporation and changed its name to Percise Life
Sciences Ltd.

<PAGE>F-9

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 March 31, 2002, we had cash of $24,000. 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, 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. As of the date
 of this quarterly report on Form 10QSB, we had not identified any particular
 technologies. 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 March 31, 2002, we
 have suffered an accumulated net loss of $8,852,755. There is no guarantee
 that we will not continue to suffer significant losses in the foreseeable
 future.

*       On January 16, 2002, Ferdinand Marehard resigned as director,
        secretary and treasurer.

*       On January 16, 2002, Robert Klein, a director, was appointed secretary
        and treasurer.

*       On January 16, 2002, Dr. Hai Shiene Chen, founder of ACGT Corporation,
        was appointed a director.

*       On March 4, 2002, Robert Waters resigned as president, remaining as a
        director.

*       On March 4, 2002, Conrado Beckerman was appointed director and
        president.

*       On March 11, 2002, Dr. Hai Shiene Chen tendered his resignation as
        director and on March 26, 2002, we accepted his resignation.

        None of the resignations above were the result of any dispute with us.
The resignation of Dr. Hai Shiene Chen was necessary to avoid any conflicts of
interest during the re-negotiation of the ACGT agreement.

LIQUIDITY AND CAPITAL RESOURCES.  For the three-month period ended March 31,
2002, we had total assets of $569,237, including cash resources of $24,000,
taxes recoverable of $827, $169,409 due from related parties and $31,332 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 $50,918. 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 March 31, 2002, we had current liabilities of $132,056 which was
represented by $119,091 in accounts payable and accrued liabilities and $12,965
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 March 31, 2002, we had total current assets
of $225,568.  At March 31, 2002, current assets exceeded current liabilities by
$93,512. 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 $224,562 in the first quarter of
2001 to $1,617,269 in the first quarter of 2002.  This increase in the loss
was largely due to a write-down of the acquistion cost in ACGT Corporation of
$1,439,000, a biotech company based in Toronto, Canada. We had initially
intended to enter into a transaction with ACGT Corporation. We are attempting
to resolve our outstanding issues with ACGT Corporation and are looking at
specific aspects of ACGT Corporation's business that may be compatible with
DNA diagnostics 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.

        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. 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         MARCH 31, 2001     DECEMBER 31, 2001     MARCH 31, 2002
-----------------      --------------     -----------------     --------------
        Total             $233,958             $28,266              $24,000
-----------------      --------------     -----------------     --------------

        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 March 31, 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.

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 is scheduled to recommence in the first half of 2002.

        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.

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 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 signifigant 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 $1,439,000.

        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 in trust and not sold until all necessary financings were concluded to
complete the acquisition.  Empire Sterling Corporation brached 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. If successful, we intend to cancel the shares and return them to
the Company's treasury.

ITEM 2. CHANGES IN SECURITIES.

(a)     On January 12, 2002, we cancelled a total of 47,500 restricted common
        shares previously issued as a finders fee pursuant to the acquisition
        of the LAK Ranch Property (25,000 shares) and as settlement of an
        outstanding loan (22,500 shares). These shares were issued to parties
        that no longer are associated with the Company.

(b)     On January 30, 2002, we issued 1,000,000 common shares in the names
        and amounts as follows:

              Y.E.N.N. Asset Management             250,000 shares
              May Joan Liu                          250,000 shares
              Palisades Financial Ltd.              250,000 shares
              J & S Overseas Holdings Ltd.          215,000 shares
              Joseph Beyrouti                        35,000 shares

                                                  1,000,000 shares

        We received funds in the amount of $700,000 in full from the above
mentioned shareholders in January,2001 pursuant to a private placement
and issued the shares in 2002.

(c)     On February 19, 2002, we issued to the individuals and entities listed
        below shares for debt settlement, in the amount of $311,477.  The
        accrued debt was comprised of $57,120 in salaries, $16,357 in payments
        made on behalf of the Company and $129,200 for outside professional &
        consulting services performed for the Company and $108,800 for loans
        made to the Company. The shares were issued at $0.25 per share,
        equivalent to a 25% discount to the 4-day average market price of
        $0.337 per share.

              Robert Waters                         168,000 shares
              Joseph Beyrouti                       208,128 shares
              Richard Holmes                        184,000 shares
              John MacAskill                          6,000 shares
              Empire Sterling Corporation (1)       350,000 shares

              Total                                 916,108 shares

        (1)   Empire Sterling Corporation is not affiliated with Precise Life
              Sciences Ltd.

(d)     On March 6, 2002, the Company issued 8,000,000 restricted common
        shares, subsequently reduced to 4,000,000 restricted common shares, in
        consideration for acquiring the rights to purchase an interest in ACGT
        Corporation.

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.

ITEM 5.  OTHER INFORMATION

A. SECURITY OWNERSHIP OF MANAGEMENT

        The following table sets forth information as of March 31, 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               0.26%
Vancouver, BC V7T 1A8

Robert Klein                  4540 Woodgreen Place              50,000               0.26%
West Vancouver, BC V7S 2S6

Conrado Beckerman             P.O. Box 34432 StnD.             300,000               1.53%
                              Vancouver, B.C.
                              V6J 4W4

All directors and Officers as a group                          400,000               2.04%

</table>


B.      SECURITY OWNERSHIP OF CERTAIN BENEFICIAL HOLDERS OF TEN PERCENT OR MORE

<table>
<caption>

                           <c>                                    <c>                    <c>
Amount and Nature
Title of Class                Name of Beneficial Owner               of Beneficial Owner    Percent of Class
------------------            ------------------------               ------------------     ----------------
Common Stock                  2U Online.com, Inc.                         4,850,039 (1)          41.68%
                              1288 Alberni Street, Suite 806
                              Vancouver, BC  V6E 4N5

Common Stock                  Tek Master Ltd.                               665,000 (2)          17.83%
                              1239 West Georgia Street, Suite 3004
                              Vancouver BC  V6E 4R8

Common Stock                  Y.E.N.N. Assets Management                 2,630,1000 (3)          13.42%
                              Buckinham Square, West Bay Road
                              Seven Mile Beach
                              Cayman Island, B.W.I

</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 Tek Master Ltd. were for the development
                of the scalable server platform, an abandoned internet related
                project.

        (3)     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 TRANSACTIONS

        During the quarter ended March 31, 2002 the Company issued 168,000
common shares to a director in payment for salaries expense incurred on behalf
of the Company totalling $ 57,120. At March 31, 2002 the Company owes $14,000
in salaries to two directors.

        During the quarter ended March 31, 2002 the Company incurred consulting
fees of $7,800 to private companies controlled by a significant shareholder.

        During the quarter ended March 31, 2002 the Company issued
2,500,000 restricted common shares valued at $825,000 to a Company associated
with a signigicant 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 March 31, 2002 an amount of $169,409 is owing from two companies
with a director in common and an amount of $1,035 is owing from a company
controlled by a significant shareholder.

D.      SUBSEQUENT CHANGES IN SECURITIES

        In April 2002, we issued 350,000 shares of common stock at a price of
$.25 per share representing a 25% discount to the market price in settlement of
outstanding consulting fees.  We registered the shares by way of an amended S-8
Registration Statement filed on April 24, 2002.

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

INDEX TO EXHIBITS

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

A.      Our Form 8-K filed February 1, 2002 announcing the execution of an
        engagement letter with Labonte & Co. to act as auditors, the
        appointment of Dr. Hai Shiene Chen as a Director, the appointment of
        Robert Klein as Secretary and Treasurer, the resignation of Ferdinand
        Marehard as Secretary, Treasurer and Director and the announcement of
        an agreement with ACGT Corporation, a Toronto based biotechnology
        Company.

B.      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.

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 May 20, 2002.

Precise Life Sciences Ltd.
a Nevada corporation

By:  /s/ Conrado Beckerman
         ------------------
         Conrado Beckerman

Its:     President