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 December 31, 2001

[ ] 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: 00022855

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

            Nevada                                               86-0671974
(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)

                                 (619) 521-8547
                           (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 February 13, 2002, the number of shares of Common Stock issued and
outstanding was 9,021,585.

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 - December 31, 2001                                 1

          Statements of Operations - For the six months and
          three months ended December 31, 2001 and 2000                     2

          Statements of Stockholders' Equity - For the six months
          and three months ended December 31, 2001 and 2000                 3

          Statements of Cash Flow - For the six months and three
          months ended December 31, 2001 and 2000                           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
                                December 31, 2001
                                   (Unaudited)

                                     ASSETS
CURRENT ASSETS
  Cash and cash equivalents                                         $     4,775
  Accounts and notes receivable                                         612,641
  Deposits and prepaid expenses                                          86,930
  Inventory                                                             220,611
                                                                    -----------
        TOTAL CURRENT ASSETS                                            924,957
                                                                    -----------

Property, plant and equipment, net of accumulated depreciation          507,693
Patents, net of amortization                                            599,309
Deferred income tax asset                                             2,346,000
Other assets                                                              3,013
                                                                    -----------
        TOTAL ASSETS                                                $ 4,380,972
                                                                    ===========

                      LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
  Accounts  payable                                                 $    53,658
  Accrued expenses                                                       13,653
  Debentures payable                                                  1,075,000
                                                                    -----------
        TOTAL CURRENT PAYABLE                                         1,142,311
                                                                    -----------

  Note Payable                                                           38,076
  Notes payable employees                                                29,105
  Notes payable affiliate                                             1,113,000
                                                                    -----------
        TOTAL LIABILITIES                                             2,322,492
                                                                    -----------
STOCKHOLDERS' EQUITY
  Common Stock                                                            9,022
  Additional paid-In capital                                          7,014,378
  Retained earnings (deficit)                                        (4,964,920)
                                                                    -----------
        TOTAL STOCKHOLDERS' EQUITY                                    2,058,480
                                                                    -----------
        TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                  $ 4,380,972
                                                                    ===========

             See accompanying notes to these financial statements.

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

<TABLE>
<CAPTION>
                                             For the six months ended       For the three months ended
                                                   December 31,                    December 31,
                                           ---------------------------     ---------------------------
                                               2001            2000            2001           2000
                                           -----------     -----------     -----------     -----------
<S>                                        <C>             <C>             <C>             <C>
REVENUE:
   Soil and water treatment                $     6,175     $   699,724     $     3,261     $   514,959
   Hauling and miscellaneous sales                  81          41,411                          27,268
   Other revenue                                                 4,042                          (6,868)
                                           -----------     -----------     -----------     -----------
        GROSS REVENUE                            6,256         745,177           3,261         535,359

COST OF OPERATIONS:
  Materials and supplies                           283         375,154             123         305,773
  Labor and payroll costs                                      177,190                         103,953
  Facility costs                                15,842         197,677           1,066         130,570
  Equipment and maintenance                      7,634          67,352             240          36,706
  Depreciation and amortization                 71,741          71,741          35,870          35,870
  Miscellaneous operating costs                  2,663          10,996             485           8,784
                                           -----------     -----------     -----------     -----------
        TOTAL COST OF OPERATIONS                98,163         900,110          37,784         621,656
                                           -----------     -----------     -----------     -----------

GROSS INCOME (LOSS)                            (91,907)       (154,933)        (34,523)        (86,297)

Sales & marketing costs                          7,634         304,278           6,003         260,518
Depreciation and amortization                    4,016           4,016           2,008           2,008
General & administrative costs                 516,450         375,604         265,780          99,849
Interest expense                                78,939          55,630          43,897          28,660
Research and development                        18,043           5,252           8,574           3,294
                                           -----------     -----------     -----------     -----------
        SALES AND ADMINISTRATIVE COSTS         625,082         744,780         326,262         394,329
                                           -----------     -----------     -----------     -----------

Net loss from operations                      (716,989)       (899,713)       (360,785)       (480,626)

Interest income                                    141             485              37             270
                                           -----------     -----------     -----------     -----------

Net loss before benefit of income taxes       (716,848)       (899,228)       (360,748)       (480,356)
Income tax credit                                              358,000                         191,000
                                           -----------     -----------     -----------     -----------
NET (LOSS)                                 $  (716,848)    $  (541,228)    $  (360,748)    $  (289,356)
                                           ===========     ===========     ===========     ===========
Loss per share:
  Basic loss per common share              $     (0.08)    $     (0.07)    $     (0.04)    $     (0.03)
                                           ===========     ===========     ===========     ===========
  Weighted average shares outstanding        9,021,585       8,730,431       9,021,585       8,730,431
                                           ===========     ===========     ===========     ===========
</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

Net loss                                                                         (541,228)         (541,228)
                                   ---------      ------      ----------      -----------       -----------

Balance at December 31, 2000       8,730,431      $8,730      $6,568,570      $(4,152,118)      $ 2,425,182
                                   =========      ======      ==========      ===========       ===========

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

Net loss                                                                         (716,848)         (716,848)
                                   ---------      ------      ----------      -----------       -----------

Balance at  December 31, 2001      9,021,585      $9,022      $7,014,378      $(4,964,920)      $ 2,058,480
                                   =========      ======      ==========      ===========       ===========
</TABLE>

See accompanying notes to these financial statements.

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

<TABLE>
<CAPTION>
                                                            For the six months ended      For the three months ended
                                                                  December 31,                  December 31,
                                                            ------------------------      ------------------------
                                                              2001            2000           2001           2000
                                                            ---------      ---------      ---------      ---------
<S>                                                         <C>            <C>            <C>            <C>
CASH FLOW FROM OPERATING ACTIVITIES:

NET LOSS                                                    $(716,848)     $(541,228)     $(360,748)     $  89,356)
Adjustments to reconcile net loss to net cash
 used by operating activities:
  Deferred compensation                                                        1,263                         1,263
  Amortization and depreciation                                75,757         75,757         37,878         37,878
  Benefit on income tax credit                                              (358,000)                     (191,000)
Change in assets and liabilities:
  Accounts receivable                                          36,441        385,229          3,710        323,458
  Deposits and prepaid expenses                                               (2,059)        11,556         (2,059)
  Inventory                                                                  151,000                       126,933
  Other assets                                                   (274)        28,810            (46)        28,810
  Accounts payable                                            (28,579)      (181,766)        (3,575)        18,820
  Accrued expenses                                                 (1)                           15
  Deferred income                                                            263,505                       (25,070)
                                                            ---------      ---------      ---------      ---------
Net Cash Flow Provided (Used) by Operating Activities        (633,504)      (177,489)      (311,210)        29,677
                                                            ---------      ---------      ---------      ---------
CASH FLOW USED BY INVESTING ACTIVITIES:
  Disposition of property, plant & equipment                   12,000                        12,000
  Addition of property, plant & equipment                      (1,567)        (7,496)                       (2,504)
                                                            ---------      ---------      ---------      ---------
Total Cash Flow Provided (Used) by investing activities        10,433         (7,496)        12,000         (2,504)
                                                            ---------      ---------      ---------      ---------
CASH FLOW FROM FINANCING ACTIVITIES:
  Proceeds from notes payable                                 588,000                       303,000
  Issuance of debentures                                                     300,000                       150,000
  Net borrowings on notes payable affiliates                    3,434          1,914         (5,556)         1,914
                                                            ---------      ---------      ---------      ---------
Total Cash Flow from Financing Activities                     591,434        301,914        297,444        151,914
                                                            ---------      ---------      ---------      ---------
Net increase/(decrease) in cash                               (31,637)       116,929         (1,766)       179,087
Cash at Beginning of Period                                    36,412        124,352          6,541         62,194
                                                            ---------      ---------      ---------      ---------
Cash at End of Period                                       $   4,775      $ 241,281      $   4,775      $ 241,281
                                                            =========      =========      =========      =========
Supplemental disclosure of cash flow information:
  Cash payments during the period for:
    Interest                                                $  78,939      $  55,630      $  43,897      $  28,660
</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.
Until January 1, 2000 the Company operated as Soil Wash Technologies, Inc.

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  of  the  agricultural  community.  In  2001  the  Company
suspended  its sole 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.

The Company is in the process of developing a market for its  agricultural  soil
enhancement products. To date sales have not been significant.

REVENUE RECOGNITION

For remediation products revenue is recognized upon completion of the processing
cycle and freight  upon  shipment by the  independent  trucking  company or upon
completion of the services and is fully earned.  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 consumed in the
soil and water remediation  process, and finished products and raw materials 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.

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 six
months ended  December  31, 2001 and 2000 is $55,780 and $55,780,  respectively,
and for the three months ended December 31, 2001 and 2000 $27,890 and $27,890.

Property plant and equipment consist of the following:

                                                               December 31,
                                                                   2001
                                                               -----------
     Production equipment                                      $   890,744
     Office equipment, furniture and fixtures                       72,041
      Vehicles                                                      95,873
     Leasehold improvements                                        528,793
                                                               -----------
                                                                 1,587,451
        Less accumulated depreciation and amortization          (1,079,758)
                                                               -----------

                                                               $   507,693
                                                               ===========

Amortization of capitalized patent costs for the six months ended December 31,
2001 and 2000 was $19,977 and $19,977 and for the three months ended December
31, 2001 and 2000 $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.  The debentures
mature  in the  third  calendar  quarter  of 2002.  All of the  debentures  were
subscribed  and at  December  31,  2001 the  outstanding  balance of the debt is
$1,075,000,  after the conversion in the year ended June 30, 2001 of $250,000 of
debentures into 83,334 shares of stock. If the remaining debt is converted,  the
Company would issue an additional  358,333 shares.  Interest expense for the six
months ended December 31, 2001 and 2000 was $53,750 and $53,635, respectively.

NOTE 5 - RELATED PARTY TRANSACTIONS

At December  31,  2001 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 six months ended December 31, 2001 interest expense was $24,458.

NOTE 6 - COMMITMENT AND CONTINGENCIES

The  Company has various  operating  lease  obligations  which  require  monthly
payments.  The  Company  has  month to month  leases  for its  plant  sites  and
equipment.  During the six months ended December 31, 2001 and 2000 the aggregate
lease  payments  were  $46,448  and  $122,531,  respectively.  The  Company  has
terminated  the lease on its plant  site,  sold its book of business in the area
and removed the equipment to a storage  facility pending its decision opening at
a new  location.  The Company  estimates  that the current  market  value of the
assets approximates the net carrying value of those assets.

As part of the sale of the Company's  remediation business in the fourth quarter
of the year ended June 30, 2001, the Company has a receivable of $500,000 due in
February 2002 based on the buyer  achieving  specific levels of business by that
date.  The  Company  has  subsequently  received  the full  amount due under the
contract.

In  conjunction  with  the  lease  of the land  associated  with  the  operating
facilities,  the Company was obligated to remediate the property to its original
condition. The Company has remediated the property to governmental standards and
has received its final release on the property from the governmental agencies.

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

NOTE 7 - INCOME TAXES

At December  31, 2001 and 2000,  the Company has  approximately  $7,094,000  and
$5,836,000 of net operating losses available to offset future federal income tax
liability and  $2,267,000 and  $1,628,000 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  site 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 six months ended  December 31, 2001 and 2000 resulted
in a deferred  income tax asset of  approximately  $0 and  $358,000  after being
offset by a valuation allowance of $291,000 and $0, respectively.

Income tax benefits for the six months ended  December 31, 2001 and 2000 include
the following components

                                                     December 31,   December 31,
                                                        2001           2000
                                                     ---------       ---------
     Income Taxes:
        Federal                                      $ 234,000       $ 132,000
        State                                           57,000          35,000
                                                     ---------       ---------
     Total income tax benefit                          291,000         167,000
     Valuation allowance                              (291,000)              0
                                                     ---------       ---------

     Benefit for income taxes                        $       0       $ 167,000
                                                     =========       =========

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

                                                     December 31,   December 31,
                                                        2001           2000
                                                     ----------     ----------
     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      2,320,000
                                                     ----------     ----------
     Tax effects of carryforwards
     Tax effects of future taxable differences
      and carryforwards                               2,346,000      2,380,000
                                                     ----------     ----------
     Net deferred tax asset                          $2,346,000     $2,380,000
                                                     ==========     ==========

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 provisions for state income tax benefit have
been reduced by the  expiration of state tax benefits of $10,000 and $11,000 for
the years ended  December 30, 2001 and 2000.  The realized net operating  losses
expire  over the next 20 years for  federal  and 5 years for  state  income  tax
purposes, as follows:

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

NOTE 7 - INCOME TAXES (continued)

                                        Federal                State
         Expiration                      Amount                Amount
         ----------                    ----------            ----------
            2002                               --            $  458,000
            2003                               --               255,000
            2004                               --                78,000
            2005                               --               279,000
            2006                               --               481,000
            2007                               --               716,000
            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                          716,000                    --
                                       ----------            ----------
               Total                   $7,094,000            $2,267,000
                                       ==========            ==========

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 8 - COMMON STOCK

At December 31, 2001, the Company has 9,021,585 shares outstanding.  The Company
has 25,000,000 shares of $0.001 par value authorized.

NOTE 9 - 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 six months ended December 31, 2001.

NOTE 10 - LOSS PER COMMON SHARE

Loss per share of common stock has been computed  based on the weighted  average
number of shares  outstanding.  As of December  30, 2001 and 2000,  the weighted
average number of shares outstanding was 9,021,585 and 8,730,431,  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 six months ended
December  31,  2001,  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.

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<PAGE>
RESULTS OF OPERATIONS

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

                                        Six Months Ended       Six Months Ended
                                       December 31, 2001       December 31, 2000
                                       -----------------       -----------------
                                          (unaudited)            (unaudited)
     STATEMENT OF OPERATIONS DATA:
     Revenue                              $     6,256           $   745,177
     Net Loss                             $  (716,848)          $  (541,228)
     Net Loss Per Share                   $     (0.08)          $     (0.07)
     BALANCE SHEET DATA:
     Current Assets                       $   924,957           $   670,884
     Total Property & Equipment, Net      $   507,693           $   649,494
     Patents, Net                         $   599,309           $   639,083
     Deferred Tax Asset                   $ 2,346,000           $ 2,380,000
     Total Assets                         $ 4,380,972           $ 4,527,654
     Total Current Liabilities            $ 1,142,311           $   494,170
     Accumulated Deficit                  $(4,964,920)          $(3,967,117)
     Stockholders Equity                  $ 2,058,480           $ 2,425,182

SIX MONTHS ENDED DECEMBER 31, 2001 (UNAUDITED) COMPARED TO SIX MONTHS ENDED
DECEMBER 31, 2000 (UNAUDITED)

REVENUES

Revenues  for the six months  ended  December  31, 2001 were $6,256  compared to
$745,177  for the same  period in 2000.  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 and the  business  has not been
relocated as of December 31, 2001.  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 $900,110 for the six months ended December 31,
2000 to $98,163 for the six months ended  December 31, 2001,  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.

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<PAGE>
OPERATING EXPENSES

Operating  expenses decreased 16.1% over the same period in 2000. 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  $(716,848)  for the six  months  ended
December  31, 2001 as compared  to a net loss of  $(541,228)  for the six months
ended  December 31,  2000,  for the reasons  detailed  above  including  the not
recognizing  the deferred tax benefit in the period ended December 31, 2001. The
Company  expects that as a result of its efforts  during the last half of fiscal
year 2000 and all of  fiscal  2001 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 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 $4,775 and $241,281 at December 31, 2001 and
2000, respectively.  Net cash used by operations was $633,504 for the six months
ended  December 31, 2001 compared to net cash used by operations of $177,489 for
the six months ended December 31, 2000.

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.  The debentures mature
in the first calendar  quarter of 2002. All of the debentures are subscribed and

                                       13
<PAGE>
paid.  At December 31, 2001 the  outstanding  balance of the debt is  $1,075,000
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.  If the
remaining  holders  elect to convert  the debt the Company  would issue  358,333
shares of its common stock.

Interest expense for the six months ended December 31, 2001 was $78,939.

The  Company  has  a  working  capital  deficit  (current  assets  less  current
liabilities)  of $(217,354) as of December 31, 2001 compared to working  capital
of $176,714 as of December 31, 2000.

The Company  believes that it has and will have sufficient cash flow to continue
its  operations  through  December 31, 2002. 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.

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<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

The registrant,  as an update as to certain of its press releases, is disclosing
the following information.

On June 7, 2000 the  company  announced a 19.5  million  dollar deal with Gerber
Goldschmidt Group for distribution in Mexico.  The Gerber  Goldschmidt Group has
not met its quotas, however the company has decided to maintain the agreement in
that  circumstances  in Mexico made it difficult for the distributor to perform.
The company feels that the efforts by Gerber Goldschmidt as well as the improved
economic and agricultural environment in Mexico hopefully will indicate benefits
to the company this fiscal year.

On September  19, 2000 the company  announced an  agreement  with Agri  Products
Southwest.  The agreement is no longer operative because of the inability of the
parties to perform.

On December 5, 2000 the company  announced  that it had entered into a financial
advisory agreement with Hunter Wise. The agreement was mutually cancelled on May
24, 2001.

On December 19, 2000 the company announced that it would develop retail products
distributed by Spectrum  Brands.  The  distribution  by Spectrum  Brands has not
occurred nor does the company expect it to occur.

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: None.

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<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: February 13, 2002           AMERICAN SOIL TECHNOLOGIES, INC.


                                        /s/ Neil C. Kitchen
                                        -----------------------------------
                                   By:  Neil C. Kitchen
                                   Its: President, Chief Executive Officer,
                                        Principal Executive Officer


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

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