SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                   FORM 10Q-SB


                  Quarterly Report under Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


For Quarter Ended                                         Commission File Number
-----------------                                         ----------------------
September 30, 2002                                                     000-26907


                        BIO AMERICAN CAPITAL CORPORATION
             (Exact name of registrant as specified in its charter)


Nevada                                                               93-1118938
(State of incorporation)                                 IRS Employer ID Number


462 Stevens Avenue, Suite #308, Solana Beach, CA                92075
(Address of principal executive offices)                   (Zip Code)


                                  858.793.5900
                         (Registrant's Telephone number)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to the filing
requirements for at least the past 90 days.

                                    Yes X No

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

                3,930,250 common shares as of September 30, 2002



<PAGE>


                                TABLE OF CONTENTS



                         PART I - FINANCIAL INFORMATION

                                                                          Page

Item 1     Financial Statements....................................... F-1 - F-4

Item 2     Management Discussion and Analysis of Financial Condition
           and Results of Operations.......................................    9



                    PART II - OTHER INFORMATION

Item 1     Legal Proceedings...............................................   10

Item 2     Changes in Securities...........................................   10

Item 3     Default Upon Senior Securities..................................   10

Item 4     Submission of Matters to a Vote of Security Holders.............   10

Item 5     Other Information...............................................   10

Item 6     Exhibits and Reports on Form 8-K................................   10



                             PART III

           Signature                                                          11



<PAGE>


                         PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.

         For financial information, please see the financial statements and the
notes thereto, attached hereto and incorporated by this reference.

         The financial statements have been prepared by Bio-American Capital
Corporation without audit pursuant to the rules and regulations of the
Securities and Exchange Commission. Certain information and footnotes
disclosures normally included in financial statements prepared in accordance
with generally accepted accounting principles have been condensed or omitted as
allowed by such rules and regulations, and management believes that the
disclosures are adequate to make the information presented not misleading. These
financial statements include all the adjustments which, in the opinion of
management, are necessary to a fair presentation of financial position and
results of operations. All such adjustments are of a normal and recurring
nature. These financial statements should be read in conjunction with the
audited financial statements at December 31, 2001, included in the Company's
Form 10-SB.




<PAGE>



                        BIO-AMERICAN CAPITAL CORPORATION

                              Financial Statements
               For the Nine Month Period Ended September 30, 2002
                                   (Unaudited)


<PAGE>



                          Michael Johnson & Co., LLC.
                             9175 Kenyon Ave., #100
                                Denver, CO 80237
                               Phone: 303-796-0099
                                Fax: 303-796-0137





           REPORT ON REVIEW BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT


To the Board of Directors
Bio-American Capital Corporation


We have reviewed the accompanying balance sheet of Bio-American Capital
Corporation as of September 30, 2002 and the related statements of operations
and cash flows for the nine months ended September 30, 2002 and 2001 included in
the accompanying Securities and Exchange Commission Form 10-QSB for the period
ended September 30, 2002. These financial statements are the responsibility of
the Company's management.

We conducted our reviews in accordance with standards established by the
American Institute of Certified Public Accountants. A review of interim
financial information consists principally of applying analytical procedures to
financial data and making inquiries of persons responsible for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with auditing standards generally accepted in the United States, the
objective of which is the expression of an opinion regarding the financial
statements as a whole. Accordingly, we do not express such an opinion.

Based on our reviews, we are not aware of any material modifications that should
be made to the accompanying financial statements for them to be in conformity
with accounting principles generally accepted in the United States.

We have previously audited, in accordance with auditing standards generally
accepted in the United States, the balance sheet as of December 31, 2001, and
the related statements of operations, stockholders' equity and cash flows for
the year then ended (not presented herein). In our report dated March 16, 2002,
we expressed an unqualified opinion on those financial statements. In our
opinion, the information set forth in the accompanying balance sheet as of
September 30, 2002 is fairly stated in all material respects in relation to the
balance sheet from which it has been derived.


/s/ Michael Johnson & Co., LLC.
Michael Johnson & Co., LLC.
Denver, Colorado
November 15, 2002


                                      F-1

<PAGE>

<TABLE>
<CAPTION>


                           BIO-AMERICAN CAPITAL CORP.
                         (A Development Stage Company)
                                 Balance Sheet


                                                                  September 30,         December 31,
                                                                      2002                  2001
                                                                  --------------      -----------------
                                                                   (Unaudited)
<S>                                                               <C>                 <C>
ASSETS:

Current Assets:
     Cash                                                                 $ 114                   $ 99

TOTAL ASSETS                                                              $ 114                   $ 99
                                                                  ==============      =================


LIABILITIES & STOCKHOLDERS' DEFICIT:

Current Liabilities:
  Accounts Payable                                                    $ 236,498              $ 180,773
  Accrued Liabilities                                                     9,508                  3,100
  Notes Payable                                                         130,000                      -
                                                                  --------------      -----------------

Total Current Liabilities                                               376,006                183,873
                                                                  --------------      -----------------

Stockholders' Deficit:
     Common Stock, par value $0.001; 100,000,000
       shares authorized; 3,930,250 shares issued and
       outstanding in 2001 and 2000 respectively                          3,930                  3,930
   Additional Paid-in Capital                                           543,083                543,083
   Accumulated Deficit during the Development Stage                    (922,905)              (730,787)
                                                                  --------------      -----------------

                                                                  --------------      -----------------
Total Stockholders' Deficit                                            (375,892)              (183,774)
                                                                  --------------      -----------------

TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT                             $     114                   $ 99
                                                                  ==============      =================
</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                      F-2

<PAGE>

<TABLE>
<CAPTION>


                                   BIO-AMERICAN CAPITAL CORP.
                                 (A Development Stage Company)
                                    Stagements of Operations

                                          (Unaudited)

                                                                                                                 For the
                                                                                                                 Period
                                                                                                               May 5, 1992
                                                     Three Months Ended             Nine Months Ended         (Inception) to
                                                       September 30,                  September 30,           September 30,
                                                 ---------------------------    ---------------------------
                                                    2002            2001           2002               2001        2002
                                                 ------------    -----------    -----------     -----------   --------------
<S>                                              <C>             <C>            <C>             <C>           <C>
REVENUE:                                                 $ -            $ -            $ -             $ -              $ -


EXPENSES:
   Provision for Bad Debt                            132,708              -        132,708               -          586,140
   Amortization                                            -              -              -               -              500
   Professional Expenses                               3,195          2,000          6,310           6,494           63,832
   Management Fees                                    15,000         15,000         45,000          45,000          235,000
   Other                                                  36             34          1,350              90            3,725
   Office Expenses                                     2,250          2,250          6,750           6,750           35,250
                                                 ------------    -----------    -----------     -----------   --------------
Total Expenses                                       153,189         19,284        192,118          58,334          924,447

OTHER INCOME/EXPENSES
   Interest & Other Income                             2,708                         2,708                            6,080
   Interest & Other Expenses                          (2,708)             -         (2,708)              -           (4,538)
                                                 ------------    -----------    -----------     -----------   --------------
Total Other Income/Expenses                                -              -              -               -            1,542

NET LOSS                                           $(153,189)     $ (19,284)     $(192,118)      $ (58,334)      $ (922,905)
                                                 ============    ===========    ===========     ===========   ==============

Net Loss Per Share                                   $ (0.04)           $ -        $ (0.05)        $ (0.01)
                                                 ============    ===========    ===========     ===========

Weighted Average Shares Outstanding                3,930,250      3,930,250      3,930,250       3,930,250
                                                 ============    ===========    ===========     ===========
</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                      F-3

<PAGE>

<TABLE>
<CAPTION>


                                           BIO-AMERICAN CAPITAL CORP.
                                         (A Development Stage Company)
                                            Statements of Cash Flows

                                                  (Unaudited)

                                                Indirect Method


                                                                                                              (Unaudited)
                                                                                                                For the
                                                                                                                 Period
                                                                                                              May 5, 1992
                                                      Three Months Ended         Nine Months Ended            (Inception) to
                                                        September 30,              September 30,              September 30,
                                                    -----------------------   -------------------------
                                                      2002         2001          2002          2001               2002
                                                    ----------   ----------   -----------   -----------       -------------
<S>                                                 <C>          <C>          <C>           <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss                                            $(153,189)    $(21,684)    $(192,118)    $ (61,184)         $ (922,905)
Adjustments to reconcile net loss to net cash
  used in operating activities;
   Amortization                                             -            -             -             -                 500
  Stock issued for accrued liabilities                      -            -             -             -              25,500
  Changes in assets and liabilities:
     Increase (Decrease) in Receivables                20,250       20,050        55,725        59,300             236,498
     Increase (Decrease)  in Accrued Liabilities        2,958        1,700         6,408         1,950               9,508
                                                    ----------   ----------   -----------   -----------       -------------
  Total Adjustments                                    23,208       21,750        62,133        61,250             272,006
                                                    ----------   ----------   -----------   -----------       -------------
Net Cash Used in Operating Activities                (129,981)          66      (129,985)           66            (650,899)

CASH FLOWS FROM INVESTING ACTIVITIES:
     Incorporation Costs                                    -            -             -             -                (500)
                                                    ----------   ----------   -----------   -----------       -------------
Net Cash Used in Investing Activities                       -            -             -             -                (500)

CASH FLOWS FROM FINANCING ACTIVITIES:
    Proceeds from Sale of Common Stock                      -            -             -             -             521,513
    Proceeds from Notes Payable                       130,000            -       130,000             -             130,000
                                                    ----------   ----------   -----------   -----------       -------------
Net Cash Provided by Financing Activities             130,000            -       130,000             -             651,513
                                                    ----------   ----------   -----------   -----------       -------------

(Decrease) Increase in Cash                                19           66            15            66                 114

Cash - Beginning of Period                                 95           27            99            27                   -
                                                    ----------   ----------   -----------   -----------       -------------

Cash - End of Period                                    $ 114         $ 93         $ 114          $ 93               $ 114
                                                    ==========   ==========   ===========   ===========       =============

Supplemental Disclosures
       Interest                                           $ -          $ -           $ -           $ -                 $ -
                                                    ==========   ==========   ===========   ===========       =============
        Income taxes                                      $ -          $ -           $ -           $ -             $42,000
                                                    ==========   ==========   ===========   ===========       =============


Noncash investing and financing activities:
Issuance of common stock in exchange for
cancellation of note payable of $16,500 and
accrued expenses of $25,500
                                                    ----------   ----------   -----------   -----------       -------------
                                                          $ -          $ -           $ -           $ -            $ 42,000
                                                    ==========   ==========   ===========   ===========       =============
</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                      F-4



<PAGE>




                        BIO-AMERICAN CAPITAL CORPORATION
                          (A Development Stage Company)
                          Notes to Financial Statements
                               September 30, 2002
                                   (Unaudited)


1.       Presentation of Interim Information

         In the opinion of the management of Bio-American Capital Corporation,
the accompanying unaudited financial statements include all normal adjustments
considered necessary to present fairly the financial position as of September
30, 2002, and the results of operations and cash flows for the three months and
nine months ended September 30, 2002 and 2001. Interim results are not
necessarily indicative of results for a full year.

     The financial statements and notes are presented as permitted by Form
10-QSB, and do not contain certain information included in the Company's audited
financial statements and notes for the fiscal year ended December 31, 2001.


2.       Notes Payable and Guaranty Agreement

         In anticipation of the proposed Plan and Agreement of Reorganization
with Bright Star Resources and its shareholders, the Company appointed the
President of Bright Star Resources, as President of the Company. The Company
authorized the new President to execute $130,000 in secured promissory notes
(the "Notes") from non-affiliated parties with the proceeds to be used to
purchase 3 leases in the Raton Basin. The notes were due October 14, 2002, with
interest accrued at 10% interest plus the issuance of one warrant to purchase
common stock at $0.40 per share for each dollar of principal advanced (the
"Warrants"). The Company conditioned the execution of the Notes and issuance of
the Warrants upon the execution of the Guaranty Agreement between the new
President and the Company. The leases were not delivered as required by the
security agreement and the lender has notified the Company that the loan is in
default.

         In October 2002 the Company terminated the proposed Plan and Agreement
of Reorganization with Bright Star Resources, Inc. and its shareholders. The
Company intends to rescind the Notes and Warrants due to the non-delivery of
leases and termination of the failure of the Plan and Agreement of
Reorganization.


                                      F-5

<PAGE>


Item 2.  Management's Discussion and Analysis of Financial Condition and Result
-------------------------------------------------------------------------------
of Operations
-------------

Results of Operations
---------------------

         The Company had no revenue or operations for the period. There can be
no assurance that the Company will be able to complete a merger with an
operating company. Due to the lack of a specified business opportunity, the
Company is unable to predict the period for which it can conduct operations.

Comparison of Operating Results for the Three Months Ended September 30, 2002
-----------------------------------------------------------------------------
and September 30, 2001
----------------------

         The Company had no revenues for the three months ended September 30,
2002 and September 30, 2001. In 2002 the Company incurred $20,481 in expenses
compared to $19,284 in 2001. The $20,481 of expenses in 2002 included: $15,000
as a management fee to the President of the Company; $2,250 for office and
related expenses; and $3,000 for legal services. The $19,284 of expenses in 2001
included: $15,000 as a management fee to the President of the Company; $2,250
for office and related expenses; and $2,000 for legal services. As discussed in
the Notes to Financial Statements, $2,708 of accrued interest expense was offset
by the receivable guarantee.

         The net operating loss in the third quarter in 2002 was $20,481 as
compared to $19,284 in 2001. The net loss per share for the quarter each year
was $0.01 in 2002 and less than $0.01 in 2001.

Comparison of Operating Results for the Nine Months Ended September 30, 2002 and
--------------------------------------------------------------------------------
September 30, 2001
------------------

         The Company had no revenues for the nine months ended September 30,
2002 and September 30, 2001. In 2002 the Company incurred $59,410 in expenses
compared to $58,334 in 2001. The $59,410 of expenses in 2002 included: $45,000
as a management fee to the President of the Company; $6,750 for office and
related expenses; and $7,500 for legal services. The $58,334 of expenses in 2001
included: $45,000 as a management fee to the President of the Company; $5,750
for office and related expenses; $4,900 for legal services and $1,850 was
incurred for financial coverage. As discussed in the Notes to Financial
Statements, $2,672 of accrued interest expense was offset by the receivable
guarantee.

         The net operating loss in the nine months ended September 30, 2002 was
$59,410 as compared to $58,334 in 2001. The net loss per share for the nine
months ended September 30, 2002 and September 30, 2001 was $0.02.

         For the current fiscal year, the Company anticipates incurring a loss
as a result of the management fee to the President of the Company, office and
related expenses, expenses associated with regulatory filings, and expenses
associated with locating and evaluating acquisition candidates. The Company
anticipates that until a business combination is completed with an acquisition

<PAGE>

candidate, it will not generate revenues, and may continue to operate at a loss
after completing a business combination, depending upon the performance of the
acquired business.

Liquidity and Capital Resources
-------------------------------

         At September 30, 2002, the Company had no cash or other assets with
which to conduct operations. The lack of liquidity or liquid assets raises
substantial doubt about the Company's ability to continue as a going concern
unless it is able to generate sufficient cash flows to meet its obligations and
sustain operations. To meet required current operating expenses the Company is
totally dependent upon its principal shareholder to advance funds until the
Company has acquired another entity that has sufficient resources to fund the
Company's operations. The Company's primary ongoing monthly cost include a
$5,000 management fee, $750 for an office and related expenses, and cost
associated with regulatory filings. The payments for these expenses have been
deferred until sufficient cash is available.

         Once the Company has identified an appropriate business combination,
lack of existing capital may be a sufficient impediment to prevent its
consummation. And if a business combination is completed, the Company's needs
for additional financing is likely to increase substantially.




<PAGE>


PART II - OTHER INFORMATION

Item 1.  Legal Proceedings.
--------------------------

         The Company is not a party to any pending legal proceedings, and no
such proceedings are known to be contemplated.

Item 2.  Change in Securities.
-----------------------------

         (a) There have been no material modifications in any of the instruments
defining the rights of the holders of any of the Company's registered
securities.

         (b) None of the rights evidenced by any class of the Company's
registered securities have been materially limited or qualified by the issuance
or modification of any other class of the Company's securities.


Item 3.  Defaults Upon Senior Securities.
----------------------------------------

         (Not applicable)


Item 4.  Submission of Matters to a Vote of Security Holders.
-------------------------------------------------------------

         (Not applicable)


Item 5.  Other Information.
--------------------------

            In July 2002 the Company entered into a Plan and Agreement of
Reorganization with Bright Star Resources, Inc. and its shareholders whereby the
Company might acquire 100% of the issued and outstanding common stock of Bright
Star Resources, Inc. in exchange for shares of common stock of the Company. If
completed Bright Star Resources, Inc., an Arkansas corporation, would have been
merged into the Company. Bright Star purportedly owns mineral leases in Colorado
in the Raton Basin upon which it hopes to drill coalbed methane wells.

            In anticipation of the merger with Bright Star Resources, the
Company appointed the President of Bright Star Resources, as President of the
Company. The Company authorized the new President to execute $130,000 in secured
promissory notes (the "Notes") from non-affiliated parties with the proceeds to
be used to purchase 3 leases in the Raton Basin. The notes were due October 14,
2002, with interest accrued at 10% interest plus the issuance of one warrant to
purchase common stock at $0.40 per share for each dollar of principal advanced
(the "Warrants"). The Company conditioned the execution of the Notes and
issuance of the Warrants upon the execution of the Guaranty Agreement between
the new President and the Company. The leases were not delivered as required by
the security agreement and the lender has notified the company that the loan is
in default.

            In October 2002 the Company terminated the proposed Plan and
Agreement of Reorganization with Bright Star Resources, Inc. and its
shareholders and removed the new President. The Company made a formal demand
under the Guaranty Agreement to pay the Notes, or otherwise obtain a release of
the Company. The Company intends to rescind the Notes and Warrants due to the
non-delivery of leases and termination of the failure of the Plan and Agreement
of Reorganization.


<PAGE>

Item 6.  Exhibits and Reports on Form 8-K.
-----------------------------------------

(a)      Exhibits

         Exhibit 99.14  Other Consent

(b)      Reports on Form 8-K

         On October 7, 2002, the Company filed a report on Form 8-K.




<PAGE>


                                   SIGNATURES

         In accordance with the requirements of the Securities and Exchange Act
of 1934, as amended, the registrant caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.


                                             Bio-American Capital Corporation

                                             By: /s/ Leonard Viejo
Date:  November 19, 2002                         -------------------------------
                                                 Leonard Viejo, President