**UNITED STATES **

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C.       20549

 

**FORM 10-QSB**

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THESECURITIES AND EXCHANGE ACT OF 1934

 

For the quarterlyperiod                                                      Commission filenumber            000-33507 ended April 30, 2002

**RAMSIN PRODUCT DEVELOPMENT,INC                                                                                  **(Exact name of registrant as specified in its charter)

NEWYORK                                                                           16-1475712                                           (State or other jurisdictionof                                                              (I. R. S.Employer                incorporation ororganization)                                                              Identification No.)    

2450 W. Ridge Road, Suite 305, Rochester,NY            14626                                                           (Address of Principal ExecutiveOffices)                            (Zip Code)

Issuer's telephonenumber:        (716)225-1840    

Indicate by check mark whether the registrant (1) has filed allreports required to filed by Section 13 or 15 (d) of the Securities and ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that theregistrant was required to file such reports), and (2) has been subject tofiling requirements for the past 90 days.   Yes [ X ]  No[    ]

The number of shares outstanding of the Registrant's commonstock, par value $0.001 at May 31, 2002 was 7,775,500 shares.

<page>

**PART I - FINANCIAL INFORMATION**

Item 1.    FINANCIAL STATEMENTS

**RAMSIN PRODUCT DEVELOPMENT, INC.**

**Unaudited Financial Statements**

**April 30, 2002**

 

**INDEX TO FINANCIAL STATEMENTS**

**__________________________________________________________________________________________________________________**

 

**REVIEWED FINANCIAL STATEMENTS                                                                                                   PAGE**

ACCOUNTANTS' REVIEWREPORT...................................................................................................          1

BALANCESHEET.....................................................................................        2

STATEMENT OF STOCKHOLDERSDEFICIT.....................................................................................................        3

STATEMENT OF OPERATIONS AND RETAINEDDEFICIT......................................................................................................      4

STATEMENT OF CASHFLOWS...............................................................      5

NOTES TO FINANCIALSTATEMENTS......................................................... 6-8

**SUPPLEMENTAL INFORMATION**

SCHEDULE OF OPERATINGEXPENSES..............................................................................................        9

 

 

 

***<PAGE>***

**CHARLES A. TREVISO, CPA PFS**

**Member American Institute of Certified Public Accountantsand New York State Society of Certified Public Accountants**

 

Board of Directors and Stockholders

Ramsin Product Development, Inc.

Rochester, New York

 

**INDEPENDENT AUDITORS' REPORT**

 

I have reviewed the accompanying balance sheet of Ramsin ProductDevelopment, Inc. as of April 30, 2002 and the related statement of stockholder'sdeficit and statements of operations and retaineddeficit and cash flows for the three months then ended, in accordance withStatements and Standards for Accounting and Review Services issued by theAmerican Institute of Certified Public Accountants. All information included inthese financial statements is the representation of the  management of Ramsin ProductDevelopment, Inc. 

A review consists principally of inquiries of Company personneland analytical procedures applied to financial data. It is substantially less inscope than an audit in accordance with generally accepted auditing standards,the objective of which is the expression of an opinion regarding the financialstatements taken as a whole. Accordingly, I do not express such an opinion.

Based upon my review, I am not aware of any material modificationsthat should be made to the accompanying financial statements in order for themto be in conformity with generally accepted auditing standards.

My review was made for the purpose of expressing limitedassurance that there are no material modifications that should be made o thefinancial statements in order for them to be in conformity with generallyaccepted accounting principals.

/s/ Charles A. Treviso CPA/PFS

Webster, New York

July 1, 2002

 

**680 Ridge Road * Webster New York 14580**

**Voice 716-671-1130 * Facsimile 716-671-4417 * email  ctreviso@frontiernet.net.**

***<PAGE >***

**RAMSIN PRODUCT DEVELOPMENT, INC.**

**Balance Sheets**

**April 30, 2002**

**(See Accountants' Review Report)**

**ASSETS**

| CURRENT      ASSETS:                                     | April 30,      2002 |  |  |
|----------------------------------------------------------|---------------------|--|--|
|                                                          |                     |  |  |
| Cash and cash equivalents                                | $2515               |  |  |
| Due from Affiliate                                       | 2256                |  |  |
| Total Current Assets                                     | 4771                |  |  |
|                                                          |                     |  |  |
| OTHER ASSETS:                                            |                     |  |  |
| Investments                                              | 208511              |  |  |
| License Agreements                                       | 22000               |  |  |
| Deferred      Income Taxes (Less allowance for reduction |                     |  |  |
| to estimated recoverable value)                          | 26600               |  |  |
| Total Other Assets                                       | 257111              |  |  |
| TOTAL                                                    | 261882              |  |  |
|                                                          |                     |  |  |
|                                                          |                     |  |  |
|                                                          |                     |  |  |
|                                                          |                     |  |  |

**LIABILITIES AND STOCKHOLDER'S EQUITY**

| Current      Liabilities:                                 |         |  |  |
|-----------------------------------------------------------|---------|--|--|
| Accounts Payable                                          | 4390    |  |  |
| Royalty Payable                                           | 12000   |  |  |
| Stock Subscriptions Deposit                               | 2500    |  |  |
| Accrued Taxes                                             | 100     |  |  |
| Due to shareholders                                       | 60034   |  |  |
| Note payable                                              | 77070   |  |  |
| Total Current      Liabilities                            | 156094  |  |  |
|                                                           |         |  |  |
| Long-Term Liabilities:                                    |         |  |  |
| Royalty payable, net of      current portion              | 170375  |  |  |
|                                                           |         |  |  |
| Stockholder's Deficit:                                    |         |  |  |
| Common Stock                                              | 7775    |  |  |
| Additional paid-in capital in excess      of par value of |         |  |  |
| common stock                                              | 395375  |  |  |
| Retained deficit                                          | -467737 |  |  |
| Total Stockholder's      deficit                          | -64587  |  |  |
|                                                           |         |  |  |
| TOTAL                                                     | 261882  |  |  |

 

***<PAGE> ***

 

**RAMSIN PRODUCT DEVELOPMENT, INC.**

**Statements of Stockholders Deficit**

**April 30, 2002**

**(See Independent Auditors' Report)**

|                                    |      |                       | COMMON | STOCK |                            |                  |       |  |         |        |        |        |
|------------------------------------|------|-----------------------|--------|-------|----------------------------|------------------|-------|--|---------|--------|--------|--------|
|                                    |      | Shares (In Thousands) | Amount |       | Additional Paid-In Capital | Retained Deficit | TOTAL |
| Balance-January      31, 2000      | 7775 |                       |        | 7775  |                            | 395375           |       |  | -437174 |        | -34024 |
| Proceeds      from the Issuance of |      |                       |        |       |                            |                  |       |  |         |        |        |
| Common      Stock                  |      |                       |        |       |                            |                  |       |  |         |        |        |
| Net Loss                           |      |                       |        |       |                            |                  |       |  |         | -30563 |        | -30563 |
| Balance-April      30, 2002        | 7775 |                       |        | 7775  |                            | 395375           |       |  | -467737 |        | -64587 |
|                                    |      |                       |        |       |                            |                  |       |  |         |        |        |
|                                    |      |                       |        |       |                            |                  |       |  |         |        |        |
|                                    |      |                       |        |       |                            |                  |       |  |         |        |        |        |
|                                    |      |                       |        |       |                            |                  |       |  |         |        |        |

 

 

 

***<PAGE >***

**RAMSIN PRODUCT DEVELOPMENT, INC.**

**Statements of Operations and Retained Deficit**

**For the Three Months Ended April 30, 2002**

**(See Accountants' Review Report)**

|                                 |  |  |  |         | April 30, 2002 |  |  |  |  |
|---------------------------------|--|--|--|---------|----------------|--|--|--|--|
|                                 |  |  |  |         |                |  |  |  |  |
| Sales                           |  |  |  |         |                |  |  |  |  |
| Cost      of Goods Sold         |  |  |  |         |                |  |  |  |
| Gross      Margin on Sales      |  |  |  |         |                |  |  |  |
| Operating      Expenses         |  |  |  | 31256   |                |  |  |  |
| Loss      from Operations       |  |  |  | -31256  |                |  |  |  |
|                                 |  |  |  |         |                |  |  |  |  |
| Other      Income and Expenses: |  |  |  |         |                |  |  |
| Miscellaneous      Income       |  |  |  | 893     |                |  |  |  |
| New      York franchise tax     |  |  |  | -200    |                |  |  |  |
| Other Income                    |  |  |  | 693     |                |  |  |  |
|                            |  |  |  |         |                |  |  |  |
| Net Loss                        |  |  |  |         | -30563         |  |  |  |  |
|                                 |  |  |  |         |                |  |  |  |
| Retained      Deficit-Beginning |  |  |  |         | -437174        |  |  |  |  |
|                                 |  |  |  |         |                |  |  |  |  |
| Retained      Deficit-Ending    |  |  |  | -467737 |                |  |  |  |
|                                 |  |  |  |         |                |  |  |  |  |
|                                 |  |  |  |         |                |  |  |  |  |
|                                 |  |  |  |         |                |  |  |  |  |
|                                 |  |  |  |         |                |  |  |  |  |
|                                 |  |  |  |         |                |  |  |  |
|                                 |  |  |  |         |                |  |  |  |  |
|                                 |  |  |  |         |                |  |  |  |
|                                 |  |  |  |         |                |  |  |  |  |

 

 

 

***<PAGE> ***

 

**RAMSIN PRODUCT DEVELOPMENT, INC.**

**Statements of Cash Flows**

**For the Three Months Ended April 30, 2002**

**(See Accountants' Review Report)**

|                                               |  |  |       |       | April 30,2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |  |  |  |  |
|-----------------------------------------------|--|--|-------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|
| Cash      Flows From Operating Activities:    |  |  |       |       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |  |  |  |
|                                               |  |  |       |       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |  |  |  |  |  |  |
| Net Loss                                      |  |  |       |       | -30563                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |  |  |  |  |  |  |  |
|                                               |  |  |       |       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |  |  |  |  |  |  |
| Increase      (Decrease) in operating assets: |  |  |       |       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |  |  |  |
| Accounts      Payable                         |  |  |       | -1113 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |  |  |  |  |  |
| Royalty      payable                          |  |  | 22125 |       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                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| Total      adjustments                        |  |  | 21012 |       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                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|                                               |  |  |       |       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |  |  |  |  |  |
| Net cash used for operating      activities   |  |  |       |       | 5373Decrease      in cash and cash equivalents-4178Cash      and cash equivalents-Beginning6693Cash      and cash equivalents-Ending2515Supplemental Disclosure of Cash Flow      Information:Cash      paid during the year for income taxes
200
 

 

 

***<PAGE >***

**RAMSIN PRODUCT DEVELOPMENT, INC.**

**Notes To Financial Statements**

**(See Accountants' Review Report)**

 

**Note 1. Business Activity and Summary of SignificantAccounting Policies**

 

Business Activity- The Corporation was formed in 1995under the laws of the State of New York to create a vertically integrated firmstructured to develop, market or license exciting new products in an honest andhighly profitable manner. Ramsin product Development, Inc. are referred toherein as the "Company".

Estimates- The preparation of financial statements in conformitywith generally accepted accounting principles requires management to makeestimates and assumptions that affect the reported amounts of assets andliabilities and disclosure of contingent assets and liabilities at the date ofthe financial statements and the reported amounts of revenues and expensesduring the reporting period. Actual results could differ from those estimates.

Research and Development Costs- Research and developmentcosts are expensed in the period in which they have occurred, and consist of thefollowing projects as of January 31,:
DescriptionApril      30, 2002WristRight      Project565
Advertising- The Company expenses advertising costs asthey are incurred. 

Revenue Recognition- Revenues from services or sales ofproduct are recognized in the period in which they were earned.

Income Taxes- Deferred Income Taxes arise from temporarydifferences resulting from differences between the financial and tax basis ofassets and liabilities. Deferred taxes are classified as current ornon-current depending upon the classification of the assets and liabilities towhich they relate. Deferred taxes arising from temporary differences that arenot related to an asset or liability are classified as current or non-currentdepending upon the periods  in which the temporary differences areexpected to reverse. The Company's temporary difference is due to a netoperating loss carryover that will be utilized to offset future tax liabilitiesof the Company. 

**Note 2. Investments**

In response to a *Confidential Offering Memorandum* datedMay 30, 1998, the Company gained title to certain gemstones in exchange forconsideration of Company stock. These transactions occurred during the fiscalyear ended January 31, 2000. The gemstones are being sold at the wholesalevalues, when needed, to meet the daily cash flow operations of the Company. Thegemstones are reported at their wholesale value. The value of the gemstones wasascertained by an independent gemologist who valued these gems at theirwholesale value.

**Note 3. Due To/From Officers**

Due to/from officers consists of demand notes to, or from twoofficers of the Company. These notes are unsecured, non-interest bearing and dueon demand.

**Note 4. Lease Commitments**

On March 1, 1994, the Company entered into a month-to-monthlease agreement with C.V. Associates for their operating facility. The originallease term ahs expired. However, both parties have agreed to continue therent relationship on a month to month basis with rent adjustments to be mutuallyagreed upon. Currently, the arrangement calls for rental payments of $695 permonth until terminated by either party in writing.

**Note 5. Provision for Taxes**

The credit for taxes for the three months ended April 30, 2002 consists of the following:
April 30,      2002Current:
Federal0State200Total      Current200Deferred:
Federal0State0Total      Deferred0Total      Provision for taxes200
***<PAGE>***

**Note 6. Royalty Payable**

In June 1998, the Company entered into a License agreement toobtain the exclusive rights and certain intellectual property developed by *designWright**Products, Inc.* This license agreement specifically identified royaltypayments for these rights obtained. In April 2000 the Company renegotiated theroyalty payments due to *designWright**Products, Inc. * and iscurrently remitting payments in the amount of $1000 per month. Should theCompany elect to forfeit their rights in the certain intellectual propertydeveloped by *designWright**Products, Inc.*the remaining balance onthese payments would not be legally enforceable and the Company would forfeittheir rights in the specific intellectual property. Interest is not calculatedor accrued on the outstanding royalties payable.

**Note 7. Note Payable**

On May 19, 2000 the Company received a $100,000 loan from WadeLippman, a shareholder of the Company. The loan is secured by the gemstones heldas an investment by the Company. Under the terms of the agreement, Wade Lippmanis to receive at least 67% of the proceeds from all sales of the Company'sinvestment in gemstones. The terms of the note further state that the balance ofthe loan must be reduced by at least $50,000 within six months of the date ofthe loan. The note becomes due and payable twelve months from the date ofissuance of the note. Interest is accrued at 12%. Currently, the Company is indefault on the terms of this loan. As of the date of this report, Wade Lippmanhas not commenced any action to remedy the default.

**Note 8. Financial Investments and Concentration of CreditRisk:**

Financial instruments that potentially subject the Company tocredit risk consist principally of trade accounts receivable and investments.The Company grants credit to its customers, a majority of whom operate in theWestern New York area. Collateral, is generally not required. The Company holds,as an investment, certain gemstones (as explained in Note 2) whose values canfluctuate with market conditions.

 

***<PAGE >***

**RAMSIN PRODUCT DEVELOPMENT, INC.**

**Schedule of Operating Expenses**

**For the Three Months Ended April 30, 2002**

**(See Accountant's Review Report)**
Operating ExpensesApril 30,      2002Miscellaneous$15Office      expense509Rent2085Research      and development costs565Royalties25125Telephone900Travel      and entertainment2057Total      operating expenses$31256
 

<page>

**Item2.                   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS.  **

As of April 30, 2002, the Company has yet to realize sufficientincome from any of its products to avoid losses.  There are continuous butlimited sales of the Closer Lid, and the WristRight product lines.  TheCement Truck Strainer is not ready for market, and while Pocket Pal is marketready the Company has yet to aggressively market the product.

Hoop-It has been reviewed by several retailers, all of whichhave suggested design modifications.  These modifications have been madeand the Company is hopeful that a retail test of the product will have begunmid-second quarter of fiscal 2002.

The WristRight is fully developed and is being marketedaggressively.  The Company has established a website for the direct sale ofthis product line (www.wristright.com), and has received and fulfilled limitedquantity orders for the product from Staples, Inc., the office productsretailer.  It continues to seek distribution and manufacturing partners forthis product.

Sales of the WristRight through the quarter at Staples has beensluggish.  The Company is continuing negotiations to license this product.

There were no revenues for the Quarter ended April 30, 2002.  TheCompany neither sold nor produced any product during this quarter.  Itsoperating expenses for the quarter were $31,256.00.  These expensesrepresent royalty payments, usual business expense, such as telephone and rent,as well as $500 in  additional research and development costs for theWristRight product.  The Company's retained deficit increased to $(467,737)from $(437,174) at the end of fiscal 2002.

The shift in product mix to emphasize theWristRight has necessitated theCompany to undertake some additional expenses. These expenses include, but arenot limited to, redesign of the product to facilitate easier manufacturing,other similar development costs as well as costs associated with finding anappropriate manufacturer and distributors for this product.

No Spill Closer Lid sales have slowed primarily due to the lessening ofmanagement's attention to the sales of this mature product while it develops itsnew products, principally the WristRight and Cement Truck Strainer.

The Company is continuing its negotiations with Fellows Manufacturing andBelkin, both large manufacturers of wrist rest type products.  Thesecompanies are reviewing the WristRight as a possible license acquisition.

The Cement Truck Strainer also impresses management as being potentially verysuccessful.  McNeilus Company, which builds cement trucks is reviewing theengineering designs with a license agreement in mind.

Management is confident that these two (2) products will eventually providethe Company with significant revenues through, in the case of the WristRight,both through direct sales and licensing agreements, and as for the Cement TruckStrainer through licensing.

**FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES**

The Company is not self-reliant and continues to need  a significantinflux of paid-in capital.  While the cost of producing its salesrevenues remains moderate, the Company has focused on development issuesprimarily for the WristRight and Cement Truck Strainer.  The centralactivities have been to seek manufacturing and licensing agreements for theseproducts.

The financial condition of the Company is such that for operations tocontinue, there is a need for additional paid-in capital.  The Companycontinues to use the gem stones in its possession to secure loans to keep theCompany operating.  Upon completion of this registration process theCompany, plans to file a 15c211 with the NASD for listing on theOver-the-Counter "pink sheets" exchange to publicly raisecapital.  Additionally, once the registration process is complete theCompany will seek  to employ the services of an investment bank to provideadvice and strategy on raising capital as a public entity.

The Company's liquidity is poor having a retained deficit at the end of theQuarter of $(467,737).  Its ability to continue operations depends upon asignificant increase in cash, either by revenues generated by potential licenseagreements or and influx of investment capital to sustain the Company while itseeks licensing partners for its products.

<page>

**CAUTIONARY STATEMENT**

This Quarterly Report on Form 10-Q contains statements relatingto future results. They are forward-looking statements as that term is definedin the Private Securities Litigation Reform Act of 1995. We caution readers thatthese forward-looking statements speak only as of the date hereof. Actualresults may differ materially from those projected as a result of certain risksand uncertainties, including but not limited to: changes in general economicconditions, foreign exchange rate fluctuations, changes in interest rates,competitive product and pricing pressures, trade consolidations, the impact ofexcise tax increases with respect to distilled spirits, regulatory developments,the uncertainties of litigation, changes in golf equipment regulatory standards,the impact of weather, particularly on the home products and golf brand groups,expenses and disruptions related to shifts in manufacturing to differentlocations and sources, challenges in the integration of acquisitions and jointventures, as well as other risks and uncertainties detailed from time to time inthe Company's Securities and Exchange Commission filings.

<page>

**PART II - OTHER INFORMATION**

Item 1.         LegalProceedings

The Company currently has no legal proceedings pending.

Item6.            Reports andExhibits on Form 8-K

The Company has not filed any reports or exhibits on Form 8-Kfor the fiscal year ending January 31, 2002.

<page>

 

**SIGNATURE **

Pursuant to the requirements of the Securities Exchange Act of1934, the Registrant has duly caused this Quarterly Report to be signed on itsbehalf by the undersigned, thereunto duly authorized.

 

  Dated:  July 31, 2002                          For:  RAMSIN PRODUCT DEVELOPMENT, INC. 

  

                                                           By: /s/     Russell Sinacori                                           

                                                           Its:        President 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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