SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB


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

    For the quarterly period ended March 31, 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: 000-22855


                        AMERICAN SOIL TECHNOLOGIES, INC.
        (Exact name of small business issuer as specified in its charter)

            Nevada                                               95-4780218
(State or other jurisdiction of                                 (IRS Employer
incorporation or organization)                               Identification No.)

                  215 N. Marengo, Suite 110, Pasadena, CA 91101
                    (Address of principal executive offices)

                                 (626) 793-2435
                           (Issuer's telephone number)

                                       N/A
              (Former name, former address and former fiscal year,
                         if changed since last report)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. Yes [X] No [ ]

As of May 11, 2002, the number of shares of Common Stock issued and  outstanding
was 9,258,782.

Transitional Small Business Disclosure Format (check one):  Yes [ ] No [X]
<PAGE>
                        AMERICAN SOIL TECHNOLOGIES, INC.

                                      INDEX

                                                                        Page
                                                                       Number
                                                                       ------
PART I - FINANCIAL INFORMATION

Item 1. Financial Statements (Unaudited)

Balance Sheet - March 31, 2002                                           1

Statements of Operations - For the nine months and three months
ended March 31, 2002 and 2001                                            2

Statements of Stockholders' Equity - For the nine months and three
months ended March 31, 2002 and 2001                                     3

Statements of Cash Flow - For the nine months and three months
ended March 31, 2002 and 2001                                            4

Notes to Financial Statements                                            5

Item 2. Management's Discussion and Analysis of Financial
Conditions and Results of Operations                                    11

PART II - OTHER INFORMATION

Item 1. Legal Proceedings                                               15
Item 2. Changes in Securities                                           15
Item 3. Defaults Upon Senior Securities                                 15
Item 4. Submission of Matters to a Vote of Security Holders             15
Item 5. Other Information                                               15
Item 6. Exhibits and Reports on Form 8-K                                15

SIGNATURES                                                              16
<PAGE>
                         PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

                        American Soil Technologies, Inc.
                                  Balance Sheet
                                 March 31, 2002
                                   (Unaudited)

                                     ASSETS

CURRENT  ASSETS
  Cash and cash equivalents                                         $    32,969
  Accounts and notes receivable                                         118,778
  Deposits and prepaid expenses                                          67,438
  Inventory                                                             119,498
  Assets held for sale                                                   28,660
                                                                    -----------
       TOTAL CURRENT ASSETS                                             367,343
                                                                    -----------

Property, plant and equipment, net of accumulated depreciation           64,738
Patents, net of amortization                                            589,320
Deferred income tax asset                                             2,346,000
Other assets                                                              6,838
                                                                    -----------
       TOTAL  ASSETS                                                $ 3,374,239
                                                                    ===========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT  LIABILITIES
  Accounts  payable                                                 $    48,423
  Accrued expenses                                                       18,332
  Debentures payable                                                    825,000
                                                                    -----------
       TOTAL CURRENT PAYABLE                                            891,755
                                                                    -----------

  Note Payable                                                           28,829
  Notes payable affiliate                                             1,233,000
                                                                    -----------
       TOTAL  LIABILITIES                                             2,153,584
                                                                    -----------
STOCKHOLDERS' EQUITY
  Common Stock                                                            9,334
  Additional paid-In capital                                          7,125,784
  Retained earnings (deficit)                                        (5,914,463)
                                                                    -----------
       TOTAL  STOCKHOLDERS' EQUITY                                    1,220,655
                                                                    -----------
       TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                   $ 3,374,239
                                                                    ===========

See accompanying notes to these financial statements.

                                       1
<PAGE>
                        American Soil Technologies, Inc.
                            Statements of Operations
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                        For the nine months ended     For the three months ended
                                                               March 31,                       March 31,
                                                       --------------------------     --------------------------
                                                          2002            2001            2002           2001
                                                       -----------    -----------     -----------    -----------
<S>                                                    <C>            <C>             <C>            <C>
REVENUE:
  Soil and water treatment                             $    22,127    $   130,946     $    17,797    $   106,183
                                                       -----------    -----------     -----------    -----------

       GROSS REVENUE                                        22,127        130,946          17,797        106,183
                                                       -----------    -----------     -----------    -----------
COST OF OPERATIONS:
  Materials and supplies                                    81,391            229          81,353            113
  Labor and payroll costs                                    1,200             --             130             --
  Facility costs                                             5,082          7,393           3,444          5,629
  Equipment and maintenance                                    552         12,387              --          1,975
  Depreciation and amortization                             47,088         29,966          27,111          9,989
                                                       -----------    -----------     -----------    -----------
       TOTAL COST OF OPERATIONS                            135,313         49,975         112,038         17,706
                                                       -----------    -----------     -----------    -----------

GROSS INCOME (LOSS)                                       (113,186)        80,971         (94,241)        88,477
                                                       -----------    -----------     -----------    -----------

Sales & marketing costs                                     21,739         59,403          13,414         40,090
General & administrative costs                             598,111        526,788         202,344         96,263
Interest expense                                           123,780         85,402          44,841         31,856
Research and development                                    18,249          9,211           1,168          3,959
                                                       -----------    -----------     -----------    -----------
       SALES AND ADMINISTRATIVE COSTS                      761,879        680,804         261,767        172,168
                                                       -----------    -----------     -----------    -----------

Net loss from operations                                  (875,065)      (599,833)       (356,008)       (83,691)

Interest income                                                 --            230              --            230
                                                       -----------    -----------     -----------    -----------

Net loss before benefit of income taxes                   (875,065)      (599,603)       (356,008)       (83,461)


Income tax credit (expense)                                   (850)       318,196              --        113,196
                                                       -----------    -----------     -----------    -----------

Loss before discontinued operations                       (875,915)      (281,407)       (356,008)        29,735

Discontinued Operation
  (Loss) from discontinued operations, net                (369,601)      (387,457)       (172,660)      (157,371)
  (Loss) on disposal of discontinued operations, net      (420,875)            --        (420,875)            --
                                                       -----------    -----------     -----------    -----------

NET (LOSS)                                             $(1,666,391)   $  (668,864)    $  (949,543)   $  (127,636)
                                                       ===========    ===========     ===========    ===========
Loss per share:
  Basic loss per common share                          $     (0.18)   $     (0.08)    $     (0.10)   $     (0.01)
                                                       ===========    ===========     ===========    ===========
Weighted average shares outstanding                      9,112,562      8,747,463       9,184,892      8,782,865
                                                       ===========    ===========     ===========    ===========
</TABLE>

See accompanying notes to these financial statements.

                                       2
<PAGE>
                        American Soil Technologies, Inc.
                        Statement of Stockholders' Equity
                                   (Unaudited)


<TABLE>
<CAPTION>
                                    Common Stock          Additional
                                --------------------       Paid-in      Accumulated
                                  Shares      Amount       Capital        Deficit           Total
                                  ------      ------       -------        -------           -----
<S>                            <C>           <C>        <C>            <C>              <C>
Balance at July 1, 2000         8,730,431     $8,730     $6,568,570     $(3,610,890)     $ 2,966,410

Debenture conversion               83,333         83        249,917                          250,000

Net loss                                                                   (668,864)        (668,864)
                                ---------     ------     ----------     -----------      -----------

Balance at March 31, 2001       8,730,431     $8,813     $6,818,487     $(4,279,754)     $ 2,547,546
                                =========     ======     ==========     ===========      ===========

Balance at July 1, 2001         9,021,585     $9,022     $7,014,378     $(4,248,072)     $ 2,775,328

Issuance of stock for service     237,197        237        111,481                          111,718

Net loss                                                                 (1,666,391)      (1,666,391)
                                ---------     ------     ----------     -----------      -----------

Balance at  March 31, 2002      9,258,782     $9,259     $7,125,859     $(5,914,463)     $ 1,220,655
                                =========     ======     ==========     ===========      ===========
</TABLE>
See accompanying notes to these financial statements.

                                       3
<PAGE>
                        American Soil Technologies, Inc.
                             Statement of Cash Flow
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                     For the nine months ended      For the three months ended
                                                            March 31,                       March 31,
                                                    --------------------------      --------------------------
                                                       2002            2001             2002           2001
                                                    -----------    -----------      -----------    -----------
<S>                                                 <C>            <C>              <C>            <C>
CASH FLOW FROM OPERATING ACTIVITIES:

NET LOSS                                            $(1,666,391)   $  (668,917)     $  (949,543)   $  (127,637)
Adjustments to reconcile net loss to net cash
  used by operating activities:
  Deferred compensation                                 111,708        (29,577)          56,769        (30,840)
  Amortization and depreciation                          63,938        113,636           29,254         37,879
  Benefit on income tax credit                                        (443,000)                        (85,000)
  Valuation of assets held for disposition              420,875                         420,875
Change in assets and liabilities:
  Accounts receivable                                   530,304        403,730          493,863         18,503
  Deposits and prepaid expenses                          19,492         (2,860)          19,492           (800)
  Inventory                                             100,839         95,623          101,113        (55,430)
  Other assets                                           (3,825)        28,810           (3,825)            --
  Accounts payable                                      (33,814)       (95,875)          (5,235)        85,889
  Accrued expenses                                        4,678          1,141            4,678          1,141
  Deferred income                                                      (37,280)                       (300,785)
                                                    -----------    -----------      -----------    -----------
Net Cash Flow Provided (Used) by Operating
 Activities                                            (452,196)      (634,569)         167,441       (457,080)
                                                    -----------    -----------      -----------    -----------
CASH FLOW USED BY INVESTING ACTIVITIES:
  Addition of property, plant & equipment                               (7,687)                           (191)
                                                    -----------    -----------      -----------    -----------
Total Cash Flow Used by investing activities                            (7,687)                           (191)
                                                    -----------    -----------      -----------    -----------
CASH FLOW FROM FINANCING ACTIVITIES:
  Proceeds from notes payable                                          381,448                         379,534
  Repayment of notes payable                             (9,247)                         (9,247)
  Issuance of debentures                                               325,000                          25,000
  Redemption of debentures                             (250,000)                       (250,000)
  Net borrowings on notes payable affiliates            708,000                         120,000
                                                    -----------    -----------      -----------    -----------
Total Cash Flow from Financing Activities               448,753        706,448         (139,247)       404,534
                                                    -----------    -----------      -----------    -----------

 Net increase/(decrease) in cash                         (3,443)        64,192           28,194        (52,737)
Cash at Beginning of Period                              36,412        124,352                         241,281
                                                    -----------    -----------      -----------    -----------
Cash at End of Period                               $    32,969    $   188,544      $    28,194    $   188,544
                                                    ===========    ===========      ===========    ===========
Supplemental disclosure of cash flow information:
  Interest expense for the period                   $   123,780    $    85,402      $    44,841    $    31,856
</TABLE>
See accompanying notes to these financial statements.

                                       4
<PAGE>
                        American Soil Technologies, Inc.
                          Notes to Financial Statements
                                   (Unaudited)


NOTE 1 - THE COMPANY

American Soil Technologies,  Inc.,  formerly Soil Wash Technologies,  Inc., (the
"Company") is incorporated in Nevada and has operated since September 22, 1993

NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The  summary  of  significant  accounting  policies  is  presented  to assist in
understanding the Company's financial  statements.  The financial statements and
notes are representations of the Company's management. Management is responsible
for their  integrity.  These accounting  policies conform to generally  accepted
accounting  principles and have been consistently  applied in the preparation of
the financial statements.

LINE OF BUSINESS

The Company is primarily engaged in non-hazardous soil and water remediation for
commercial  business and as of January 1, 2000 the  production  and sale of soil
enhancement  products  to the  agricultural  community.  In  2001,  the  Company
suspended its soil and water remediation business and sold its book of business.
The sale is recognized in the fourth quarter of the year ended June 30, 2001. In
2002,  the Company  elected not to relocate its  facilities  and has treated the
termination of the soil remediation business as a disposal of a business segment
and has restated the financial statements to conform with this presentation.

The Company is in the process of developing a market for its  agricultural  soil
enhancement  products.  The operations of this segment is included in continuing
operations for all periods presented.

REVENUE RECOGNITION

Revenue is recognized from the soil enhancement products upon sale and shipment,
or if the  sale  includes  installation,  upon  completion  of the  installation
process.

ACCOUNTS RECEIVABLE

The  Company  provides   allowances  against  accounts  receivable  to  maintain
sufficient reserves to cover anticipated losses.

INVENTORY

Inventory is stated at the lower of cost or market,  generally being  determined
on a first-in,  first-out  basis.  Inventory  consists of materials and finished
products for sale by the agricultural division.

                                       5
<PAGE>
                        American Soil Technologies, Inc.
                          Notes to Financial Statements
                                   (Unaudited)


NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

PROPERTY, PLANT AND EQUIPMENT

Depreciation  has  been  provided  on the  same  basis  for  tax  and  financial
accounting  purposes using the straight-line,  accelerated and declining balance
methods. The estimated useful lives of the assets are as follows:

     Production equipment                                   7-10 years
     Office equipment, furniture and fixtures               5-10 years
     Vehicles                                                  3 years
     Leasehold improvements                                 3-10 years

PATENTS

Patents  acquired in the purchase  transaction  are being  amortized  over their
estimated useful lives of 17 years on a straight-line basis.

INCOME TAXES

The Company  provides for income taxes in accordance with Statement of Financial
Accounting Standards No. 109 (SFAS 109), "Accounting for Income Taxes." SFAS 109
requires the recognition of deferred tax liabilities and assets for the expected
future tax consequences of temporary differences between the financial statement
carrying  amounts and the tax basis of assets and  liabilities.  The Company has
suspended the  recognition  of future  benefits until the volume of sales of the
agricultural  products  increases  sufficiently to indicate that the Company may
return to profitability in the near future.

ESTIMATES

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect  the  reported  amounts  of assets  and  liabilities  and  disclosure  of
contingent  assets and  liabilities at the date of the financial  statements and
the  reported  amounts of revenues  and expenses  during the  reporting  period.
Actual results could differ from those estimates.

IMPAIRMENT OF LONG-LIVED ASSETS

The Company  accounts for  impairment  of long-lived  assets in accordance  with
Statement  of  Financial  Accounting  Standards  No.  121,  "Accounting  for the
Impairment of  Long-Lived  Assets and for  Long-Lived  Assets to be Disposed Of"
("SFAS  121").  SFAS  121  requires  that  long-lived  assets  be  reviewed  for
impairment  whenever events or changes in  circumstances  indicate that the book
value of the asset may not be recoverable. The Company evaluates on each balance
sheet  date  whether  events or  circumstances  have  occurred  that  indicate a
possible  impairment.  In accordance with SFAS 121, the Company uses an estimate
of the future  undiscounted  net cash flows of the related  asset or asset group
over the remaining life in measuring whether the assets are recoverable.

                                       6
<PAGE>
                        American Soil Technologies, Inc.
                          Notes to Financial Statements
                                   (Unaudited)


NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS

In June 2001,  the FASB  issued  SFAS No. 142,  "Goodwill  and Other  Intangible
Assets." This  statement  establishes  accounting  and  reporting  standards for
goodwill and intangibles for years commencing  after December 15, 2001.  Whether
already  acquired or subsequently  acquired after the effective date,  companies
are required to identify intangibles with finite lives and those with indefinite
lives.  Those  intangibles  with  finite  lives  are to be  amortized  over  the
estimated  useful lives of the assets while those with indefinite  lives are not
to be amortized.  Goodwill is not to be amortized.  Each  intangible or goodwill
asset  should be analyzed at least  annually for  impairment  where the carrying
value is in excess  of the fair  value of the  intangibles  and in excess of the
implied fair value in the case of goodwill assets. The asset's carrying value is
to be reduced by a charge to income if the fair value is lower than the carrying
value.  The Company has not  determined  the effect of this new  standard  which
becomes effective for the Company on July 1, 2002; however, at December 30, 2001
the Company has patent  rights  which are being  amortized  over the term of the
patent.  The impact of  implementation  of 9SFAS No. 142 is not  expected  to be
material.

NOTE 3 - PROPERTY, PLANT AND EQUIPMENT AND PATENTS

Depreciation  and  amortization  of property,  plant and  equipment for the nine
months  ended March 31, 2002 and 2001 is $17,122 and $0,  respectively,  and for
the three months ended March 31, 2002 and 2001 $17,122 and $0.

Property plant and equipment consist of the following:

                                                                  March 31,
                                                                    2002
                                                                  --------
     Production equipment                                         $ 19,465
     Office equipment, furniture and fixtures                       12,856
     Vehicles                                                       49,540
                                                                  --------
                                                                    81,861
        Less accumulated depreciation and amortization             (17,123)
                                                                  --------

                                                                  $ 64,738
                                                                  ========

Amortization  of  capitalized  patent  costs for the nine months ended March 31,
2002 and 2001 was $29,966 and $29,966 and for the three  months  ended March 31,
2001 and 2001 $9,989 and $9,989, respectively.

                                       7
<PAGE>
                        American Soil Technologies, Inc.
                          Notes to Financial Statements
                                   (Unaudited)


NOTE 4 - CONVERTIBLE DEBENTURES

In the quarter ended March 31, 2000,  the Company  authorized the issuance of an
aggregate  of  $1,325,000  of  convertible   debentures  with  interest  payable
quarterly at 10 percent per annum. Each debenture is convertible to stock of the
Company at a rate of one share for each three dollars  converted.  Additionally,
$250,000 was redeemed  during the period ending March 31, 2002.  The  debentures
mature  in the  third  calendar  quarter  of 2002.  All of the  debentures  were
subscribed  and at  March  31,  2002  the  outstanding  balance  of the  debt is
$825,000.  If the  remaining  debt is  converted,  the  Company  would  issue an
additional 275,000 shares.  Aggregate interest expense for the nine months ended
March 31, 2002 and 2001 was $78,541 and $85,392, respectively.

NOTE 5 - RELATED PARTY TRANSACTIONS

At March 31, 2002,  the Company has a loan payable to a company in which a major
shareholder  of the  Company  owns a  substantial  interest.  The loan is due on
demand,  subject to such demand not interfering with the operations and needs of
the Company. The interest rate is the prime rate charged the lender by its bank.
During the nine months ended March 31, 2002 interest expense was $38,523.

NOTE 6 - INCOME TAXES

At March  31,  2002 and 2001,  the  Company  has  approximately  $7,623,000  and
$5,964,000 of net operating losses available to offset future federal income tax
liability and  $2,796,000 and  $1,756,000 of net operating  losses  available to
offset future state income tax liability. There is no certainty as to the timing
of such  recognition  nor that the Company will be able to fully  utilize  these
differences.

As a result of the closing of the  Company's  soil  remediation  segment and the
uncertainty of its relocation and return to revenue production,  the Company has
suspended the  realization of the tax benefits of net operating loss  subsequent
to June 30,  2001.  The Company  continues to evaluate  the  realization  of the
deferred tax asset  previously  recognized.  The effect of  recognizing  the tax
effect of the loss for the nine months ended March 31, 2002 and 2001 resulted in
a deferred income tax asset of  approximately $0 and $443,000 after being offset
by a valuation allowance of $700,000 and $0, respectively.

Income tax  benefits  for the nine months  ended March 31, 2002 and 2001 include
the following components.

                                               March 31,           March 31,
                                                 2002                2001
                                              ---------           ---------
     Income Taxes:
       Federal                                $ 567,000           $ 378,000
       State                                    133,000              65,000
                                              ---------           ---------
     Total income tax benefit                   700,000             443,000
      Valuation allowance                      (700,000)                  0
                                              ---------           ---------

     Benefit for income taxes                 $       0           $ 443,000
                                              =========           =========

                                       8
<PAGE>
                        American Soil Technologies, Inc.
                          Notes to Financial Statements
                                   (Unaudited)


NOTE 6 - INCOME TAXES (CONTINUED)

The components of deferred tax assets and liabilities are as follows:

                                                        March 31,      March 31,
                                                          2002           2001
                                                       ----------     ----------
     Tax effects of reserves for doubtful accounts,
      deferred compensation and remediation            $       --     $   60,000
     Tax effects of carryforward benefits:
     Net operating loss carryforwards                   2,346,000      2,286,000
                                                       ----------     ----------
     Tax effects of carryforwards
       Tax effects of future taxable differences
        and carryforwards                               2,346,000      2,346,000
                                                       ----------     ----------

     Net deferred tax asset                            $2,346,000     $2,346,000
                                                       ==========     ==========

Realization of the net deferred tax assets is dependent on generating sufficient
taxable  income prior to the  expiration of the  respective  carryforwards.  Tax
effects are based on a 34.0% federal  income tax rate and an 8.84% on 50% of the
net operating loss  recognized  for state income tax purposes.  The combined net
rate of  carryforwards  is 38.4%.  The realized net operating losses expire over
the next 20 years for  federal  and 5 years for state  income tax  purposes,  as
follows:

                           Federal              State
  Expiration               Amount               Amount
  ----------               ------               ------
     2002                       --            $  458,000
     2003                       --               255,000
     2004                       --                78,000
     2005                       --               279,000
     2006                       --               481,000
     2007                1,246,000
     2008               $  130,000                    --
     2009                1,074,000                    --
     2010                1,058,000                    --
     2011                1,016,000                    --
     2012                  915,000                    --
     2018                  510,000                    --
     2019                  156,000                    --
     2020                  558,000                    --
     2021                  961,000                    --
     2022                1,246,000                    --
                        ----------            ----------

     Total              $7,624,000            $2,797,000
                        ==========            ==========

                                       9
<PAGE>
                        American Soil Technologies, Inc.
                          Notes to Financial Statements
                                   (Unaudited)


NOTE 6 - INCOME TAXES (CONTINUED)

Management  believes  that it is more  likely  than not that  the  Company  will
realize the  benefits of the deferred  tax credits  before each expires  through
2022;  therefore,  no valuation  reserve has been  provided for this against the
asset.

NOTE 7 - COMMON STOCK

At March 31, 2002, the Company has 9,258,782 shares outstanding. The Company has
25,000,000 shares of $0.001 par value authorized.

NOTE 8 - STOCK OPTION PLAN

The Company  initiated  a stock  option plan during the year ended June 30, 2001
under which the Company  could grant up to one million  options.  Under the plan
all employees and  directors,  subject to  employment  terms,  have been granted
options to purchase  219,998 and 225,002 shares,  respectively.  The options are
exercisable  at $3.75  and  $4.13 per  share,  respectively.  At the time of the
grants, the market price of the stock was $3.75, therefore, 219,998 options were
granted at the market price and 225,002 options were granted at 10% in excess of
the market price.  The options are vested when granted and are  exercisable  for
ten years from the date of the grant subject to cancellation upon termination of
employment.  No options have been exercised.  No options have been issued during
the nine months ended March 31, 2002.

NOTE 9 - LOSS PER COMMON SHARE

Loss per share of common stock has been computed  based on the weighted  average
number  of shares  outstanding.  As of March 31,  2002 and  2001,  the  weighted
average number of shares outstanding was 9,112,562 and 8,747,463,  respectively.
The outstanding stock options are anti-dilutive and there were no other dilutive
items outstanding; therefore, basic and diluted loss per share are the same.

                                       10
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
        RESULTS OF OPERATIONS

The following  discussion and analysis  should be read in  conjunction  with the
Company's financial statements, including the notes thereto, appearing elsewhere
in this Report.

FORWARD-LOOKING STATEMENTS

THIS  QUARTERLY  REPORT ON FORM 10-QSB  CONTAINS  STATEMENTS  RELATING TO FUTURE
RESULTS OF THE COMPANY (INCLUDING CERTAIN  PROJECTIONS AND BUSINESS TRENDS) THAT
ARE "FORWARD-LOOKING STATEMENTS" AS DEFINED IN THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE PROJECTED AS
A RESULT OF  CERTAIN  RISKS AND  UNCERTAINTIES,  INCLUDING  BUT NOT  LIMITED  TO
CHANGES IN POLITICAL AND ECONOMIC  CONDITIONS;  DEMAND FOR AND MARKET ACCEPTANCE
OF NEW AND EXISTING PRODUCTS, AS WELL AS OTHER RISKS AND UNCERTAINTIES  DETAILED
FROM TIME TO TIME IN THE FILINGS OF THE COMPANY WITH THE SECURITIES AND EXCHANGE
COMMISSION.

OVERVIEW

American Soil Technologies,  Inc. began business as Soil Wash Technologies, Inc.
in September 1993 to develop and provide  nonhazardous soil remediation services
to businesses and developers in southern  California.  On December 31, 1999, the
Company  acquired the patents and operating rights to certain polymer based soil
enhancements designed to increase production and reduce costs to the agriculture
industry.  Prior to this  acquisition,  there was no  infrastructure  for sales,
marketing  and  distribution  of the  polymer  product.  This  product  is sold,
marketed, and distributed through the Company's  Agriblend(R)  division.  During
the  last  fiscal  year,  the  Company  sold the soil  remediation  business  it
conducted  through  its Soil  Wash  division  and has  since  been  focusing  on
development and sales of the polymer product line.  During the nine months ended
March 31, 2002, the Company devoted substantial  resources,  including executive
time and money, to the development of strategic  relationships and contracts for
the marketing and  distribution  of its polymer  products  both  nationally  and
worldwide.

                                       11
<PAGE>
RESULTS OF OPERATIONS

The following table sets forth, for the periods  indicated,  selected  financial
information for the Company:

                                        Nine Months Ended      Nine Months Ended
                                          March 31, 2002         March 31, 2001
                                           (unaudited)            (unaudited)
                                        -----------------      -----------------
Statement of Operations Data:
Revenue                                   $    22,127             $   130,946
Loss before discontinued operations       $  (875,915)            $  (281,407)
Net Loss                                  $(1,666,391)            $  (668,864)
Net Loss Per Share                        $     (0.18)            $     (0.08)
Balance Sheet Data:
Current Assets                            $   367,343             $   655,874
Total Property & Equipment, Net           $    64,738             $   621,796
Patents, Net                              $   589,320             $   629,094
Deferred Tax Asset                        $ 2,346,000             $ 2,346,000
Total Assets                              $ 3,374,239             $ 4,559,957
Total Current Liabilities                 $   891,755             $   702,411
Accumulated Deficit                       $(5,914,463)            $(4,094,753)
Stockholders Equity                       $ 1,220,655             $ 2,732,547

NINE MONTHS ENDED MARCH 31, 2002 (UNAUDITED) COMPARED TO NINE MONTHS ENDED
MARCH 31, 2001 (UNAUDITED)

REVENUES

Revenues  for the nine  months  ended March 31,  2002 were  $22,127  compared to
$130,946  for the same  period in 2001.  Revenue  from the  Company's  Soil Wash
division was  eliminated  as a result of the sale of its book of business in the
fourth  quarter of the year  ended  June 30,  2001.  The  business  has not been
relocated  as  of  March  31,  2002  and  the  Company  is  treating  this  as a
discontinuance  of a segment of its  business.  The  Company is now  focusing on
operations of and generating revenues from its Agriblend(R) division only.

COST OF SALES

Cost of goods sold  decreased  from $135,313 for the nine months ended March 31,
2001 to $49,975 for the nine months ended March 31, 2002, due to the sale of the
Company's Soil Wash division operations.

INVENTORY

The Company  believes that  adequate  supplies of raw materials are available to
meet its current and anticipated requirements without disruption of its delivery
chain. The Company intends to add additional storage and distribution facilities
to the  Agriblend(R)  division as necessary to  accommodate  increases in sales,
provide for timely delivery and maintain an efficient supply process. During the
period ended March 31, 2002, the Company  recognized  write-downs as a result of
physical  damage to a portion of the  inventory and  adjustment  for some of the
inventory which exceeded its useful lives.

                                       12
<PAGE>
OPERATING EXPENSES

Operating  expenses  decreased 14% over the same period in 2001.  These expenses
were  increased as a result of the  Company's  efforts in putting in place sales
representatives,  employees and agents for the Agriblend(R)  division and offset
by the  decrease  as a  result  of the  suspension  of the  Soil  Wash  division
operations.

INCOME TAXES

In prior  periods,  the  Company  has  recognized  an income tax  benefit of its
current and prior operating  losses based on the Company's  expectation  that it
will realize  sufficient income in the future, the next twenty years, to utilize
the benefits of the net operating loss  carryforward and therefore  reduced cash
outlay for taxes in future periods. The Company has suspended the recognition of
the net operating loss benefit until significant sales are recognized.

NET LOSS

The Company  experienced  a net loss of  $(1,666,391)  for the nine months ended
March 31, 2002 as compared to a net loss of $(668,864) for the nine months ended
March 31,  2001,  for the reasons  detailed  above,  including:  (1) losses from
discontinued  operations of $(369,601),  (2) valuations  loss as a result of the
intended  disposal of a segment of the business  $(420,875),  and (3) failure to
recognize the deferred tax benefit in the nine months ended March 31, 2002.  The
Company  expects  that as a result of its  efforts  in prior  periods to develop
strategic alliances,  marketing  agreements,  and distribution  networks,  sales
volume in subsequent  periods should increase.  Since these arrangements are new
and  untested,  it is uncertain  whether  these  actions will be  sufficient  to
produce  net  operating  income  for the  fourth  quarter  of fiscal  year 2002.
However, given the gross margins on the Agriblend(R) division,  future operating
results should be improved.

SEASONALITY

The efforts of the  Agriblend(R)  division in the United  States have focused on
the  southern  states and  therefore  generally  experience  year round  growing
cycles, with the sale of the Agriblend(R) product preceding the growing cycle of
various  crops.  International  sales  have not been  sufficient  enough  or the
geographic  distribution of sales concentrated enough to determine if a seasonal
trend exists although the initial  indication is that the Company's markets will
become diverse and therefore not indicate significant  seasonal  variations.  As
the Company expands into the residential and commercial markets  nationally,  it
is expected that the Company will  experience  some  seasonal  declines in sales
during the fall and winter quarters in less temperate climates.

LIQUIDITY AND CAPITAL RESOURCES

Cash and cash  equivalents  totaled  $32,969 and  $188,544 at March 31, 2002 and
2001,  respectively.  Net cash used by operations  was  $(452,196)  for the nine
months  ended  March  31,  2002  compared  to net  cash  used by  operations  of
$(634,569) for the nine months ended March 31, 2001.

In March 2000, the Company authorized the issuance of an aggregate of $1,325,000
of  convertible  debentures  with interest  payable  quarterly at 10 percent per
annum. The convertible debentures are convertible to common stock of the Company
at a rate of one share for each three dollars  converted.  All of the debentures

                                       13
<PAGE>
are subscribed and paid. At March 31, 2002 the  outstanding  balance of the debt
is  $825,000  after the  election  by one  holder in  February  2001 to  convert
$250,000  face amount of the  convertible  debentures to 83,334 shares of common
stock and the  redemption of $250,000 of  debentures  in February,  2002. If the
remaining  holders  elect to convert  the debt the Company  would issue  275,000
shares of its  common  stock.  The  debentures  are due in the first  quarter of
fiscal 2003.

Interest expense for the nine months ended March 31, 2002 was $123,780.

The  Company  has  a  working  capital  deficit  (current  assets  less  current
liabilities)  of $(524,412)  as of March 31, 2002 compared to a working  capital
deficit of $(46,537) as of March 31, 2001.

The  Company  believes  that it has and  will  have  sufficient  cash  flow  and
resources to continue its  operations  through  March 31,  2003.  The  Company's
working  capital  and other  capital  requirements  during  this fiscal year and
thereafter  will vary  based on a number of  factors,  including:  (1) the sales
revenue  generated  by the  Agriblend(R)  division;  (2) the  level of sales and
marketing  activities related to domestic sales from the Agriblend(R)  division;
and (3) the level of distributor support related to development of international
sales  associated  with the  Agriblend(R)  division.  Should  sales  growth  not
materialize,  the Company may look to public and private  sources of  financing.
There can be no  assurance,  however,  that the  Company  can obtain  sufficient
capital on acceptable terms, if at all. Under such conditions, failure to obtain
such capital likely would affect adversely the Company's  ability to continue as
a going  concern,  or at a minimum  negatively  impact the Company's  ability to
timely meet its business objectives.

The Company will also  consider  both the public and private sale of  securities
and or debt  instruments for expansion of its operations if such expansion would
benefit the overall growth and income objectives of the Company. There can be no
assurance that additional public or private financing,  including debt or equity
financing,  will be available as needed, or, if available, on terms favorable to
the Company. Any additional equity financing may be dilutive to shareholders and
such  additional  equity  securities may have rights,  preferences or privileges
that are senior to those of the Company's  existing  common stock.  Furthermore,
debt financing,  if available,  will require payment of interest and may involve
restrictive covenants that could impose limitations on the operating flexibility
of the Company.  The failure of the Company to  successfully  obtain  additional
future funding may jeopardize the Company's ability to continue its business and
operations.

                                       14
<PAGE>
                           PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

To the best knowledge of management,  there are no legal proceedings  pending or
threatened against the Company.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

The following documents are filed as part of this report:

1. The following Exhibits are filed herein: None.

2. Reports on Form 8-K filed:       May 13, 2002    Report of change in officers

                                       15
<PAGE>
                                   SIGNATURES

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

DATED: May 14, 2002                AMERICAN SOIL TECHNOLOGIES, INC.
       ------------

                                   /s/ Carl Ranno
                                   ----------------------------------------
                                   By: Carl Ranno
                                   Its: President, Chief Executive Officer,
                                        Principal Executive Officer


                                   /s/ Ken Lew
                                   ----------------------------------------
                                   By: Ken Lew
                                   Its: Chief Financial Officer, Principal
                                        Financial Officer

                                       16