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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)

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

                         For the quarterly period ended
                                  June 30, 2002

    OR

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

                         For the transition period from
                                       to

                         Commission file number 0-29049

                               RHOMBIC CORPORATION
             (Exact name of registrant as specified in its charter)

         Nevada                                                 86-0824125
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                               Identification No.)

                           11811 N. Tatum Blvd. # 3031
                             Phoenix, Arizona 85028
               (Address of principal executive offices (zip code)

                                 (602) 953-7702
              (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) filed all reports  required to
be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 during
the last 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 [ ]

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common equity, as of the latest practicable date.

            Class                                   Outstanding at June 30, 2002
            -----                                   ----------------------------
Common Stock, par value $0.001                               30,000,000

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<PAGE>
                         PART I -- FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENT

                               RHOMBIC CORPORATION
                           CONSOLIDATED BALANCE SHEET
                          (A DEVELOPMENT STAGE COMPANY)
                                  JUNE 30, 2002
                                   (UNAUDITED)

                                     ASSETS

CURRENT ASSETS:
   Cash                                                             $    17,102

OTHER ASSETS:
   Investments                                                           12,042
   Licensing Agreements and Technologies                                281,258
   Patents                                                                  734
                                                                    -----------

Total assets                                                        $   311,136
                                                                    ===========

                                  LIABILITIES

CURRENT
   Accounts Payable                                                 $    31,612

STOCKHOLDERS' EQUITY

Preferred stock, $.001 par value,
   1,000,000 shares authorized, none issued
Common stock, $.001 par value, 70,000,000 shares
   authorized, 30,000,000 issued and outstanding                         30,000
Additional paid-in capital                                            8,506,524
(Deficit) accumulated during the development stage                   (8,249,524)
Net unrealized holding (loss) on securities held for sale                (7,476)
                                                                    -----------

Total stockholders' equity                                              279,524
                                                                    -----------

Total liabilities and stockholders' equity                          $   311,136
                                                                    ===========

                 SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
<PAGE>
                               RHOMBIC CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                               FOR THE SIX MONTHS                 FOR THE THREE MONTHS         CUMULATIVE FROM
                                                  ENDED JUNE 30,                     ENDED JUNE 30,           NOVEMBER 21, 1994
                                         ------------------------------      ------------------------------     (INCEPTION) TO
                                             2002              2001              2002              2001          JUNE 30, 2002
                                         ------------      ------------      ------------      ------------      -------------
<S>                                      <C>               <C>               <C>               <C>               <C>
Royalty income                           $          0      $          0      $          0      $          0      $      5,729
Interest income                                     0                80                 0                 0             6,954
                                         ------------      ------------      ------------      ------------      ------------
                                                    0                80                 0                 0            12,683

EXPENSES
Research and development expense               (9,183)            5,781            (9,183)                0           688,563
Write down of Intellectual property                 0                 0                 0                 0         1,891,788
Legal & accounting                             34,903            70,428             7,668            19,557           771,220
Transfer Agent Expenses                         1,518               429             1,218               265            28,073
Consulting, related party                           0                 0                 0                 0           367,000
Consulting                                          0               875                 0                 0         2,876,830
Interest expense                                  120             2,917               120             2,665             3,037
Other general & administrative                  2,659           184,609           (11,798)           98,217         1,565,407
                                         ------------      ------------      ------------      ------------      ------------
   Total Expenses                              30,017           265,039           (11,975)          120,704         8,191,918

OTHER REVENUES & EXPENSES
  (Loss) on sale of Investments                     0                 0                 0                 0           (70,290)
                                         ------------      ------------      ------------      ------------      ------------
NET INCOME (LOSS)                        $    (30,017)     $   (264,959)     $     11,975      $   (120,704)     $ (8,249,525)
                                         ============      ============      ============      ============      ============

NET LOSS PER SHARE:
  Basic                                  $      (0.00)     $      (0.01)     $      (0.00)     $      (0.00)
                                         ============      ============      ============      ============
  Diluted                                $      (0.00)     $      (0.01)     $      (0.00)     $      (0.00)
                                         ============      ============      ============      ============

WEIGHTED AVERAGE SHARES OUTSTANDING:
  Basic                                    28,704,241        26,310,824        28,711,360        26,310,824
                                         ============      ============      ============      ============
  Diluted                                  28,704,241        26,310,824        28,711,360        26,310,824
                                         ============      ============      ============      ============
</TABLE>

                 SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
<PAGE>
                               RHOMBIC CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
           CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                              (Deficit)   Net unrealized
                                                                                             Accumulated   holding loss
                                                        Common Stock         Additional         During     on available
                                                    ---------------------      Paid-In       Development    securities
                                                      Shares       Amount      Capital          Stage      held for sale    Total
                                                    ----------    -------    -----------     -----------   -------------  ---------
<S>                                                 <C>           <C>        <C>             <C>             <C>          <C>
Balance at December 31, 2000                        26,286,100    $26,286    $ 8,043,540     $(7,236,754)    $      0     $ 833,072
  Shares issued for services                           290,000        290         59,710               0            0        60,000
  Net (loss) for the quarter ended March 31, 2001            0          0              0        (144,255)           0      (144,255)
                                                    ----------    -------    -----------     -----------     --------     ---------
Balance at March 31, 2001                           26,576,100     26,576      8,103,250      (7,381,009)           0       748,817
  Shares issued for services                           400,000        400         91,600               0            0        92,000
  Shares issued for debenture conversion             1,166,142      1,166        198,834               0            0       200,000
  Costs of offering                                          0          0        (20,831)              0            0       (20,831)
  Net (loss) for the quarter ended June 30, 2001             0          0              0        (120,704)           0      (120,704)
                                                    ----------    -------    -----------     -----------     --------     ---------
Balance at June 30, 2001                            28,142,242    $28,142    $ 8,372,853     $(7,501,713)           0     $ 899,282
                                                    ==========    =======    ===========     ===========     ========     =========

Balance at December 31, 2001                        28,697,042    $28,697    $ 8,452,629     $(8,219,508)    $ (7,476)    $ 254,342
  Net (loss) for the quarter ended March 31, 2002            0          0              0         (41,992)           0       (41,992)
                                                    ----------    -------    -----------     -----------     --------     ---------

Balance at March 31, 2002                           28,697,042     28,697      8,452,629      (8,261,500)      (7,476)      212,350
  Shares issued for services                         1,302,958      1,303         53,895               0            0        55,198
  Net income for the quarter ended June 30, 2002             0          0              0          11,976            0        11,976
                                                    ----------    -------    -----------     -----------     --------     ---------
Balance at June 30, 2002                            30,000,000    $30,000    $ 8,506,524     $(8,249,524)    $ (7,476)    $ 279,524
                                                    ==========    =======    ===========     ===========     ========     =========
</TABLE>

                 SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
<PAGE>
                               RHOMBIC CORPORATION
                          (A DEVLOPMENT STAGE COMPANY)
                      CONSOLIDATED STATEMENTS OF CASH FLOW
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                            FOR THE SIX MONTHS           FOR THE THREE MONTHS       CUMULATIVE FROM
                                                               ENDED JUNE 30,                 ENDED JUNE 30,       NOVEMBER 21, 1994
                                                        --------------------------    --------------------------     (INCEPTION) TO
                                                            2002           2001           2002          2001          JUNE 30, 2002
                                                        -----------    -----------    -----------    -----------      -------------
<S>                                                     <C>            <C>            <C>            <C>               <C>
OPERATING ACTIVITIES

Net (loss) income for the period                        $   (30,017)   $  (264,959)   $    11,975    $  (120,704)      $(8,249,525)
   Adjustments to reconcile net
   cash used by operations:
       Write down of intellectual property                        0              0              0              0         1,891,788
       Loss on sale of marketable securities                      0              0              0              0            70,290
       Rockford shares issued for services                        0              0              0              0            32,275
       Common stock issued for services                      55,198        152,000         55,198         92,000         1,975,682
       Fair value of options granted                              0              0              0              0         2,000,912
       (Increase) decrease in accounts receivable                 0           (291)             0           (291)                0
       (Increase) decrease in prepaid expenses                  300          1,500              0          2,500                 0
       Increase (decrease) in accounts payable                3,784        (81,824)        (5,517)       (61,081)           24,444
       Increase (decrease)  in due to related parties       (21,263)             0        (51,374)             0             7,169
                                                        -----------    -----------    -----------    -----------       -----------
Net Cash (used) by operating activities                       8,002       (193,574)       (10,282)       (87,576)       (2,246,965)

FINANCING ACTIVITIES

  Proceeds from private placements                                0              0              0              0         1,347,830
  Proceeds from convertible debenture                             0        200,000              0        100,000           200,000
  Offering costs                                                  0        (20,831)             0        (10,831)                0
  Proceeds from exercise of stock options                         0              0              0              0         1,006,750
                                                        -----------    -----------    -----------    -----------       -----------
     Cash provided from financing activities                      0        179,169              0         89,169         2,554,580
                                                        -----------    -----------    -----------    -----------       -----------

INVESTING ACTIVITIES

   Cost of patents                                                0        (47,365)             0        (33,245)         (168,430)
   Investment in Rockford Technologies                            0              0              0              0          (217,756)
   Proceeds from the sale of marketable securities                0              0              0              0            95,673
                                                        -----------    -----------    -----------    -----------       -----------
      Cash used in investment activities                          0        (47,365)             0        (33,245)         (290,513)

Increase in cash                                              8,002        (61,770)        10,282        (31,652)           17,102
Cash at beginning of period                                   9,100         93,384          6,820         63,266                 0
                                                        -----------    -----------    -----------    -----------       -----------
Cash at end of period                                   $    17,102    $    31,614    $    17,102    $    31,614       $    17,102
                                                        ===========    ===========    ===========    ===========       ===========

Interest expense                                        $       120    $     2,917    $       120    $     2,665       $     2,917

SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES

Issuance of common stock for licensing
  agreements and technologies                           $         0    $         0    $         0    $         0       $ 2,005,350
                                                        -----------    -----------    -----------    -----------       -----------
</TABLE>

                 SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
<PAGE>
                               RHOMBIC CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                            FOR THE QUARTERS ENED AND
                     SIX MONTHS ENDED JUNE 30, 2002 and 2001

     The unaudited  financial  statements included herein were prepared from the
records  of  the  Company  in  accordance  with  Generally  Accepted  Accounting
Principles. These financial statements reflect all adjustments which are, in the
opinion of  management,  necessary to provide a fair statement of the results of
operations  and  financial  position  for the interim  periods.  Such  financial
statements  generally  conform to the  presentation  reflected in the  Company's
Forms 10-KSB and 10-KSB filed with the  Securities  and Exchange  Commission for
the year ended December 31, 2001. The current  interim  period  reported  herein
should  be read in  conjunction  with  the  Company's  Form  10-KSB  subject  to
independent audit at the end of the year.

     The results of operations  for the three months ended June 30, 2002 are not
necessarily  indicative  of the results that may be expected for the year ending
December 31, 2002.

Stockholders' Equity

     During the second quarter of 2002, the Company issued 1,302,958  restricted
common shares as payment in full for general  corporate and securities  counsel,
officer fees and director fees at a deemed value of $55,198.

     During the second quarter of 2001,  the Company  issued 400,000  restricted
common shares as payment in full for legal services  regarding its patents.  The
transaction  had a deemed  value of $ 92,000.  It also issued  1,166,142  shares
under the terms of its debenture for $200,000 of cash advances.

     The deemed  value of the all shares  issued was  determined  based upon the
trading value of the  Company's  common stock at the time of the issuance of the
stock.

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

     The  following  discussion  is  intended  to  provide  an  analysis  of the
Company's  financial  condition  and Plan of  Operation  and  should  be read in
conjunction with the Company's financial  statements and the notes thereto.  The
matters  discussed in this section,  that are not  historical or current  facts,
deal with potential future circumstances and developments.  Such forward-looking
statements  include,  but are not  limited to the  seeking of revenue  producing
acquisitions,  the development plans for the technologies of the Company, trends
in the results of the  Company's  development,  anticipated  development  plans,
operating  expenses  and the  Company's  anticipated  capital  requirements  and
capital resources. The Company's actual results could differ materially from the
results discussed in the forward-looking statements.

     The Company has not generated  revenue from operations during the first six
months of 2002 or since its  inception.  During the second  quarter of 2002, the
Company  began  the  quarter  with  $9,100  in cash and  received  a  refund  of
approximately $10,000 from a consultant for discontinued  research.. At July 20,
2002, the Company had a working capital deficit.  The Company had  approximately
$5,000 in cash and trade payables of approximately $20,000 at that date.

     During the second quarter 2002, the Company had no cash  disbursements  but
disbursed  $11,672 during July 2002 for auditing costs,  electronic  filing fees
and transfer agent fees.
<PAGE>
     During the second  quarter of 2001, the Company had cash  disbursements  of
approximately $50,000 in officer consulting fees, $22,000 in general counsel and
legal fees to submit its  registration  statement,  $16,500 in travel  expenses,
$12,000 in director fees,  $10,500 for investor  relation  expenses,  $5,500 for
office  expenses,  $3,000 for auditing costs,  $2,665 in interest expense on the
debenture and approximately $8,000 on other general and administrative costs.

     During the second quarter of 2002,  directors  personally incurred expenses
of $1,625 on behalf of the Company for patent renewal fees and office  expenses.
On June 30,2002,  the directors,  officers and its general legal counsel reduced
their accrued fees of $112,000 to $55,198 and agreed not to charge any more fees
until the Company  successfully  acquires a revenue  generating  operation.  The
Company  eliminated the debt of $55,198 by issuing  1,302,958  restricted common
shares.

     Also  during the second  quarter of 2002,  all stock  options to  directors
expired leaving 500,000 options to a previous consultant remaining.  All options
are priced  significantly  higher than the trading market of Company's stock and
the probability of their being exercised is low at this time.

     The  competition in the  technology  proliferation  and transfer  market is
highly  intense  and  is  based  on  product  and  technology   recognition  and
acceptance,  novelty  and  marketability  of  an  invention,  price,  and  sales
expertise.  The Company has placed its primary emphasis on product  development,
dependability and commercial viability of its acquired technologies.  Management
is currently  determining the cost-benefit  involved to develop its Excimer Lamp
intellectual property into commercial applications. To date, the Company has not
generated any revenues  from any of its acquired  intellectual  property  except
minimal  royalties  from  Daimler  Benz  from  the IEC  Technology.  Rhombic  is
currently a development  stage  company and is operating at a loss.  None of the
intellectual properties have been developed to commercialization. The Company is
not able to determine an approximate  date for  commercialization  of any of its
intellectual  property at this time. No assurances  can be given that any of the
Company's  intellectual property will ever be developed to a point of usefulness
or, if developed, that any will be commercially feasible.

     Development  of its  intellectual  property may be possible  through  joint
ventures where Rhombic  contributes its  intellectual  property for an ownership
percentage  in a joint venture and all costs are paid by the other joint venture
partners.  In the event Rhombic had an  opportunity  to raise cash, it would pay
for a marketing  study and  development  plan for the Excimer  Lamp. An 18-month
budget of approximately $ 350,000 to develop a prototype with patent protection.

     The  Company  is  currently  in  discussions  with  potential   acquisition
candidates   that  are  revenue   producing   that  would  bring  value  to  the
shareholders.

     The Company does not have any  employees and uses  consultants  for matters
pertaining  to  coordinating  technology  development  and  administration.  The
Company may hire  employees  during the next twelve  months  depending  upon its
success  in  developing  prototype  applications  for  sale and  financing  more
development.

     This  report  contains  forward-looking  statements  within the  meaning of
Section 27A of the  Securities  Act of 1933, and Section 21E of the Exchange Act
of 1934.  Although the Company believes that the  expectations  reflected in the
forward-looking  statements and the assumptions  upon which the  forward-looking
statements  are  based  are  reasonable,  it can  give no  assurance  that  such
expectations and assumptions will prove to be correct.
<PAGE>
                          PART II -- OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

     There are no legal  proceedings  against  the  Company  and the  Company is
unaware of any proceedings contemplated against it.

ITEM 2. CHANGES IN SECURITIES

     The  following  information  is  given  with  respect  to all  unregistered
securities sold or issued by Rhombic in the period covered by this report:

     (1) Effective June 30,2002,  1,302,958 restricted common shares were issued
to the Company's general legal counsel and its directors and officers as payment
in full for services  pertaining to corporate  administration and director fees.
The deemed value of the shares  issued was $55,198  which was  determined  based
upon the trading value of the Company's common stock at the time of the issuance
of the stock and the agreement. These shares were issued by the Company pursuant
to the exemption found in Section 4(2)of the Securities Act of 1933.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

        Not applicable.

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

        Not applicable.

ITEM 5. OTHER INFORMATION

        Not applicable.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

        (a)  Exhibits

             99.1         Certificate of Chief Executive Officer Pursuant to 18
                          U.S.C. Section 1350, As Adopted Pursuant to Section
                          906 of the Sarbanes-Oxley Act of 2002

             99.2         Certificate of Chief Financial Officer Pursuant to 18
                          U.S.C. Section 1350, As Adopted Pursuant to Section
                          906 of the Sarbanes-Oxley Act of 2002

        (b)  Reports on Form 8-K

             NONE
<PAGE>
                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                           RHOMBIC CORPORATION


August 14, 2002                            By: /s/ Albert Golusin
---------------                                ---------------------------------
Date                                           Chief Financial Officer,
                                               Principal Financial Officer