Exh. 31.1

        CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND
          CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302
                OF THE SARBANES-OXLEY ACT OF 2002

I, Richard G. Gagliardi, the Chief Executive Officer,  President and
Chief Financial Officer of American Asset Management  Corporation
certify that:

I have reviewed this Quarterly Report on Form 10-QSB of American Asset
Management Corporation;

     2.  Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which
such statements were made, not misleading with respect to the period
covered by this report;

     3.  Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in all
material respects the financial condition, results of operations and
cash flows of the small business issuer as of, and for, the periods
presented in this report;

     4.  The small business issuers other certifying officer(s) and
I am responsible for establishing and maintaining disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15(e) and
15d-15(e)) for American Asset Management Corporation and have:

       a)  Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the small
business issuer, including its consolidated subsidiaries, is made known
to me by others within those entities, particularly during the period
in which this report is being prepared;

       b)  Evaluated the effectiveness of the small business issuers
disclosure controls and procedures and presented in this report our
conclusions about the effectiveness of the disclosure controls and
procedures, as of the end of the period covered by this report based on
such evaluation; and

       c)  Disclosed in this report any change in the small business
issuers internal control over financial reporting that occurred during
the small business issuers most recent fiscal quarter (the small
business issuers fourth fiscal quarter in the case of an annual report)
that has materially affected, or is reasonably likely to materially
affect, the small business issuers internal control over financial
reporting; and;

     5.  The small business issuers other certifying officer(s) and I
have disclosed, based on our most recent evaluation of internal control
over financial reporting, to the small business issuers auditors and
the audit committee of the small business issuers board of directors
(or persons performing the equivalent functions):

       a)  All significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which
are reasonably likely to adversely affect the small business issuers
ability to record, process, summarize and report financial information;
and

       b)  Any fraud, whether or not material, that involves management
or other employees who have a significant role in the small business
issuers internal control over financial reporting.

Date: August 23, 2004

                         _/s/ Richard G. Gagliardi_______________
                         Richard G. Gagliardi, Chief Executive Officer,
                         President and Chief Financial Officer
                        (Principal Executive and Financial Officer)