SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

(MARK ONE)

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

     For the quarterly period ended September 30, 2004
                                    ------------------

                                       Or

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

     For the transition period from ________ to _________


                         COMMISSION FILE NUMBER 000-50699


                             RENEWABLE ASSETS, INC.
        -----------------------------------------------------------------
        (Exact name of Small Business Issuer as Specified in its Charter)


            DELAWARE                                             20-0858618
---------------------------------                            -------------------
  (State or Other Jurisdiction                                 (IRS Employer
of Incorporation or Organization)                            Identification No.)


            7040 W. Palmetto Park Road, No. 572, Boca Raton, FL 33433
            ---------------------------------------------------------
                    (Address of Principal Executive Offices)


                                 (561) 488-9938
                ------------------------------------------------
                (Issuer's Telephone Number, Including Area Code)


          ------------------------------------------------------------
          (Former Name and Former Address of Issuer Since Last Report)


Check whether the issuer (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 such filing requirements for the past
90 days. Yes [ ] No [X]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity as of the latest practicable date: As of May 25, 2005, the Registrant had
3,014,350 shares of Common Stock outstanding.

            Transmittal Small Business Disclosure Format (check one)

                               Yes [ ]     No [X]
<PAGE>

                             RENEWABLE ASSETS, INC.

                                   FORM 10-QSB
                    For the Quarter Ended September 30, 2004


                                      INDEX
                                      -----
                                                                           Page
                                                                          Number
PART I   FINANCIAL INFORMATION

Item 1 - Consolidated Balance Sheet at September 30, 2004                    1

         Consolidated Statements of Operations for the three months
          and nine months ended September 30, 2004 and September 30, 2003    2

         Consolidated Statements of Cash Flows for the nine months
          ended September 30, 2004 and September 30, 2003                    3

         Notes to Consolidated Financial Statements                          4

Item 2 - Management's Discussion and Analysis of Financial Condition
          and Results of Operations                                          7

Item 3 - Controls and Procedures                                             8

PART II

Item 1 - Legal Proceedings                                                  10

Item 2 - Changes in Securities                                              10

Item 3 - Defaults 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

Signature                                                                   11

Exhibit 31.1                                                                12

Exhibit 32.1                                                                14
<PAGE>




                             RENEWABLE ASSETS, INC.
                                  SUCCESSOR TO
                  A.M.S. MARKETING, INC. - PHOTOCOPIER DIVISION
                          (A DEVELOPMENT STAGE COMPANY)

                              FINANCIAL STATEMENTS

                               SEPTEMBER 30, 2004



<PAGE>

                             RENEWABLE ASSETS, INC.
                                  SUCCESSOR TO
                  A.M.S. MARKETING, INC. - PHOTOCOPIER DIVISION
                          (A DEVELOPMENT STAGE COMPANY)
                                  BALANCE SHEET
                               SEPTEMBER 30, 2004

                                     ASSETS

CURRENT ASSETS:
  Cash                                                            $      4,249
  Accounts Receivable                                                    2,000
                                                                  ------------
TOTAL CURRENT ASSETS                                              $      6,249
                                                                  ============

                      LIABILITIES AND SHAREHOLDER'S EQUITY

CURRENT LIABILITIES:
  Accounts Payable                                                $        500
  Income Taxes Payable                                                     410
                                                                  ------------
      TOTAL CURRENT LIABILITIES                                            910
                                                                  ------------
SHAREHOLDER'S EQUITY:
  Preferred Stock, $.001 Par Value -
    1,000,000 Shares Authorized -
    -0- Shares Issued and Outstanding                                       --
  Common Stock, $.001 Par Value -
    29,000,000 Shares Authorized -
    3,014,350 Shares Issued and Outstanding                              3,014
    Retained Earnings - Development Stage                                2,325
                                                                  ------------
      TOTAL SHAREHOLDER'S EQUITY                                         5,359
                                                                  ------------

TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY                        $      6,249
                                                                  ============

See accompanying notes to financial statements.

                                     - 1 -
<PAGE>
<TABLE>
<CAPTION>
                             RENEWABLE ASSETS, INC.
           SUCCESSOR TO A.M.S. MARKETING, INC. - PHOTOCOPIER DIVISION
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF OPERATIONS
                  NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (UNAUDITED)


                                     NINE MONTHS ENDED           THREE MONTHS ENDED        CUMULATIVE
                                       SEPTEMBER 30                 SEPTEMBER 30           DEVELOPMENT
                                -------------------------    -------------------------        STAGE
                                    2004          2003           2004          2003          AMOUNTS
                                -----------   -----------    -----------   -----------    -----------
<S>                             <C>           <C>            <C>           <C>            <C>
COMMISSION REVENUES             $     5,760   $     4,500    $     2,000   $        --    $    52,855

GENERAL AND ADMINISTRATIVE
 EXPENSES                             3,025         8,068          1,120           382        146,670
                                -----------   -----------    -----------   -----------    -----------
INCOME (LOSS) BEFORE
 INCOME TAXES                         2,735        (3,568)           880          (382)       (93,815)

PROVISION FOR INCOME TAXES              410            --            132            --            410
                                -----------   -----------    -----------   -----------    -----------

NET INCOME (LOSS)               $     2,325   $    (3,568)   $       748   $      (382)   $   (94,225)
                                ===========   ===========    ===========   ===========    ===========
BASIC AND DILUTED EARNINGS
 (LOSS) PER SHARE               $      .001   $     (.001)   $      .000   $      .000    $     (.031)
                                ===========   ===========    ===========   ===========    ===========
WEIGHTED AVERAGE NUMBER
 OF COMMON SHARES OUTSTANDING     3,014,350     3,014,350      3,014,350     3,014,350      3,014,350
                                ===========   ===========    ===========   ===========    ===========
</TABLE>

See accompanying notes to financial statements.

                                      - 2 -
<PAGE>
<TABLE>
<CAPTION>

                             RENEWABLE ASSETS, INC.
           SUCCESSOR TO A.M.S. MARKETING, INC. - PHOTOCOPIER DIVISION
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF CASH FLOWS
                  NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (UNAUDITED)

                                                                                CUMULATIVE
                                                                                DEVELOPMENT
                                                                                   STAGE
                                                     2004           2003          AMOUNTS
                                                 ------------   ------------   ------------
<S>                                              <C>            <C>            <C>
CASH FLOWS FROM OPERATING
 ACTIVITIES:
   Net Income (Loss)                             $      2,325   $     (3,568)  $    (94,225)
   Adjustments to Net Cash Provided
    by (Used In) Operating Activities:
      Accounts Receivable                              (2,000)            --         (2,000)
      Accounts Payable                                    500             --            500
      Income Taxes Payable                                410             --            410
                                                 ------------   ------------   ------------
     NET CASH PROVIDED BY (USED IN)
      OPERATING ACTIVITIES                              1,235         (3,568)       (95,315)
                                                 ------------   ------------   ------------
CASH FLOWS FROM FINANCING
 ACTIVITIES:
   Issuance of Common Stock                             3,014             --         99,564
   Proceeds from Borrowings - Shareholder                  --             --         27,500
   Repayment of Borrowings - Shareholder                   --             --        (27,500)
                                                 ------------   ------------   ------------
     NET CASH PROVIDED BY
      FINANCING ACTIVITIES                              3,014             --         99,564
                                                 ------------   ------------   ------------

NET INCREASE (DECREASE) IN CASH                         4,249         (3,568)         4,249

CASH - Beginning of Period                                 --          3,568             --
                                                 ------------   ------------   ------------

CASH - End of Period                             $      4,249   $         --   $      4,249
                                                 ============   ============   ============
</TABLE>

SUPPLEMENTAL CASH FLOW INFORMATION:
-----------------------------------

The Company made no payments for interest or income taxes.

See accompanying notes to financial statements.

                                      - 3 -
<PAGE>

                             RENEWABLE ASSETS, INC.
                                  SUCCESSOR TO
                   A.M.S. MARKETING, INC. PHOTOCOPIER DIVISION
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2004

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -

         Nature of Operations:
           A.M.S. Marketing, Inc. ("AMS" or the Company) was incorporated in the
           state of Delaware on July 23, 1998.

           On July 21, 2003, "AMS" acquired 100% ownership of Advanced Imaging
           Systems, LLC ("AIS"), a privately owned Delaware entity in exchange
           for 1,200,000 shares of its previously unissued common stock. Prior
           to the execution of the exchange agreement, the members (owners) of
           "AIS" purchased a controlling interest in "AMS" from an existing
           "AMS" shareholder. As a result of the foregoing transactions, the
           previous owners of "AIS" became the 81.96% owners of "AMS". For
           accounting purposes, "AIS" is considered to be the acquirer and "AMS"
           the acquired entity. The business combination was accounted for as a
           reorganization of entities under common control. No fair value
           adjustments resulted from the reorganization.

           Prior to the merger, the Company's ("AMS") principal business was the
           brokerage of pre-owned name brand copy machines from a facility
           located in Pompano Beach, Florida.

           In October, 2003, A.M.S. Marketing, Inc. filed a Certificate of
           Amendment to change its name to International Imaging Systems, Inc.
           ("IIS").

           On December 12, 2003, "IIS" formed Renewable Assets, Inc., a
           wholly-owned subsidiary, to operate the photocopier division.

           On April 13, 2004, the Board of Directors approved a plan to spin off
           the Company's photocopy division (Renewable Assets, Inc.)

           3,014,350 shares of $.001 par value common stock will be issued to
           existing shareholders of International Imaging Systems, Inc. in
           connection with the spin-off upon compliance with applicable laws,
           rules and regulations.

                                      - 4 -
<PAGE>

                             RENEWABLE ASSETS, INC.
                                  SUCCESSOR TO
                   A.M.S. MARKETING, INC. PHOTOCOPIER DIVISION
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2004

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued -

         Basis of Presentation:
           The financial statements include the accounts of the predecessor
           Company's photocopier division. The historical accumulated deficit
           was eliminated as a result of the reorganization.

         Development Stage:
           The Company's management is in the process of raising working
           capital, developing a new business plan and exploring various
           business opportunities. Accordingly, the Company is classified as a
           development stage company.

         Estimates:
           The preparation of financial statements in conformity with generally
           accepted accounting principles requires management to make estimates
           and assumptions that affect the reported amounts of items included in
           the financial statements. Actual results could differ from those
           estimates.

         Financial Instruments:
           The carrying values of accounts receivable and accounts payable
           approximate fair value at September 30, 2004.

         Accounts Receivable:
           Accounts receivable are stated at net realizable value. All accounts
           are considered to be fully collectible as of September 30, 2004.

         Commission Revenues:
           In connection with the Company's revenue recognition policy, the
           Company recognizes commission revenues as an agent for a principal.
           As such, commissions are recorded at a fixed rate after the machines
           are accepted by the ultimate purchaser. The Company locates buyers
           but is not obligated to take possession of, or ship the machines.
           Selling prices of the machines are determined by the principal, and
           not the Company. Collection of the sales price and customer returns
           are the responsibility of the principal.

                                      - 5 -
<PAGE>

                             RENEWABLE ASSETS, INC.
                                  SUCCESSOR TO
                   A.M.S. MARKETING, INC. PHOTOCOPIER DIVISION
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2004

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued -

         Advertising:
           Advertising costs are expensed as incurred.

         Earnings or (Loss) Per Common Share:
           Basic and diluted earnings per common share is calculated by dividing
           net income or loss by the weighted average number of common shares
           outstanding during the period. Shares issued are considered to be
           outstanding for all periods presented.

NOTE B - CONCENTRATION OF RISK -

         Substantially all of the division's revenues are derived from the sale
         of pre-owned, refurbished photocopy machines through a marketing
         arrangement with one company. Termination of the marketing arrangement
         would have a material adverse effect upon the business.

NOTE C - RELATED PARTY TRANSACTIONS -

         Commission expense of $1,440 was paid to the Company's president during
         2004.

NOTE D - GOING CONCERN UNCERTAINTY -

         The photocopier division has sustained recurring operating losses in
         prior years and has minimal assets. These factors raise substantial
         doubt as to the business's ability to continue as a going concern.
         Management's plans regarding this uncertainty are to raise additional
         working capital through the implementation of a successful business
         plan.

                                      - 6 -
<PAGE>

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

Overview

         The Company is in the development stage. We commenced operations in
2003. We were formed to pursue the pre-owned, brand name photocopier marketing
services business of our parent, International Imaging Systems, Inc., that
commenced operations in the Fall of 1998.

         The Company is currently engaged in marketing activities for an
unrelated third party and has no employees other than its president, Alfred M.
Schiffrin, who is unsalaried. Pursuant to an oral agreement among the Company,
International Imaging Systems and Mr. Schiffrin, he is entitled to 25% of the
profits on our sales revenues until the consummation of the spin-off of our
shares owned by International Imaging Systems to its shareholders on the basis
of one-half share of our common stock for each share of International Imaging
Systems' common stock owned by the holders thereof on April 14, 2004. To date,
we have been unable to comply with applicable rules and regulations relating to
the spin off and there can be no assurance that the spin off will be effected.

         We do not anticipate hiring any employees, purchasing any plant or
significant equipment or conducting any product research and development during
the next twelve months. We also do not anticipate initiating any sales
activities for our own account until such time as our resources permit.

         During the next twelve months, we intend to continue marketing
pre-owned, brand name photocopiers. We will also continue to explore the
marketing of other products, including new and pre-owned items of office
equipment other than photocopiers, office furniture, home furnishings and
appliances, as well as the purchase and resale of such items to the extent that
our limited resources permit. We are also considering other means of expanding
our business, such as through acquisition, merger or other form of business
combination involving one or more entities engaged in the same or similar
business as us. Any such transaction may entail the issuance of additional
shares of our common stock. Although management has had preliminary discussions
from time to time with potential candidates, there are no current plans to
engage in any such transaction. In any event, any acquisition, merger or
combination will be made in compliance with applicable Federal and state
securities and corporate law, and, depending on the structure of the
transaction, submission of information to shareholders regarding any such
transaction prior to consummation, as well as shareholder approval thereof, may
not be required.

         We earn commission revenues as a sales and marketing agent for an
unrelated third party principal. We locate buyers and are not obligated to pay
for, take possession of or fulfill the shipment of the photocopiers sold. In
addition, collection of the sales price and customer returns are the
responsibility of the unrelated third party principal. Accordingly, there are no
direct costs that are attributable to sales and therefore gross profit as a
percentage of sales is and will remain a constant at 100% until such time, if
ever, that we operate in the capacity of a principal.

         As discussed below, the three month period ended September 30, 2004 was
characterized by nominal revenues of $2,000 offset by general and administrative
expenses of $1,120, resulting in a net profit of $748 in such period after
provision for income taxes of $132, as compared to no sales revenues in the same
period in the prior year.

                                     - 7 -
<PAGE>

Results of Operations

Sales
-----

         Sales for the three month period ended September 30, 2004 were $2,000
as compared to no sales for the same period in the prior fiscal year. Sales for
the nine month period ended September 30, 2004 were $5,760 as compared to sales
of $4,500 for the same period in the prior year, an increase of 28%. Management
does not believe that the increase in sales for both periods is meaningful or
indicative of a trend but is more related to factors beyond our control, such as
customer needs and timing of receipt of orders. Accordingly, comparisons between
periods may not be meaningful.

General and Administrative Expenses
-----------------------------------

         General and administrative expenses ("G&A") were $1,120, or 56% of
sales for the three months ended September 30, 2004 as compared to $382 versus
no sales activity for the same period in the prior fiscal year. G&A were $3,025,
or 53% of sales for the nine months ended September 30, 2004 as compared to
$8,068, or 179% of sales for the same period in the prior fiscal year. The
decrease in G&A as a percentage of sales is primarily attributable to the
allocation of certain legal and accounting fees to our parent, International
Imaging Systems.

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

         We financed our operations during the three month period ended
September 30, 2004 through revenues from operations. As of September 30, 004,
our principal sources of liquidity consisted of cash of $4,249 and accounts
receivable of $2,000. Because we have limited expenses, we believe that such
funds are adequate for the foreseeable future. However, we intend to seek to
raise additional capital from both our parent's shareholders and new
shareholders in order to maintain and expand our operations. There can be no
assurance that we will be able to find sources of financing on terms acceptable
to us, if at all. If we do not find sources to finance such activities, we will
be unable to expand our operations, and if any of the expected sources of
revenue should fail to appear or our expenses should increase, we may have to
curtail our operations.

ITEM 3.  CONTROLS AND PROCEDURES

(a) Evaluation of Disclosure Controls and Procedures
    ------------------------------------------------

Within the 90 days prior to the date of this report, Renewable Assets, Inc. (the
"Company") carried out an evaluation, under the supervision and with the
participation of the Company's management, including the Company's Chief
Executive and Chief Financial Officer, of the effectiveness of the design and
operation of the Company's disclosure controls and procedures pursuant to
Exchange Act Rule 13a-14. Based upon that evaluation, the Chief Executive and
Chief Financial Officer concluded that the Company's disclosure controls and
procedures are effective in timely alerting him to material information required
to be included in the Company's periodic SEC filings relating to the Company
(including its consolidated subsidiaries).

(b) Changes in Internal Controls
    ----------------------------

There were no significant changes in the Company's internal controls or in other
factors that could significantly affect these internal controls subsequent to
the date of our most recent evaluation.

                                     - 8 -
<PAGE>

                           FORWARD LOOKING STATEMENTS

This Form 10-QSB and other reports filed by the Company from time to time with
the Securities and Exchange Commission (collectively the "Filings") contain or
may contain forward looking statements and information that are based upon
beliefs of and information currently available to the Company's management as
well as estimates and assumptions made by the Company's management.

When used in the Filings the words "anticipate", "believe", "estimate",
"expect", "future", "intend", "plan" and similar expressions as they relate to
the Company or the Company's management identify forward looking statements.
Such statements reflect the current view of the Company with respect to future
events and are subject to risks, uncertainties and assumptions relating to the
Company's operations and results of operations and any businesses that may be
acquired by the Company. Should one or more of these risks or uncertainties
materialize, or should the underlying assumptions prove incorrect, actual
results may differ significantly from those anticipated, believed, estimated,
intended or planned.

                                     - 9 -
<PAGE>

                             RENEWABLE ASSETS, INC.

                                     PART II
                                OTHER INFORMATION

Item 1 - Legal Proceedings

         None

Item 2 - Changes in Securities

         None

Item 3 - Defaults Upon Senior Securities

         None

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

         None

Item 5 - Other Information

         None

Item 6 - Exhibits and Reports on Form 8-K

         (a)      Exhibits

                  31.1 Certification of Principal Executive and Chief Financial
                       Officer pursuant to Section 302 of the Sarbanes-Oxley Act
                       of 2002

                  32.1 Certification of Chief Executive and Chief Financial
                       Officer pursuant to 18 U.S.C. Section 1350

         (b)      Reports on Form 8-K - None

                                     - 10 -
<PAGE>

                                    SIGNATURE

In accordance with the requirements of the Securities Exchange Act of 1934 the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                       Registrant

                                       RENEWABLE ASSETS, INC.


                                       By: /s/ ALFRED M. SCHIFFRIN
                                           -------------------------------------
                                           Alfred M. Schiffrin,
                                           Chief Executive Officer, President
                                           and Chief Financial Officer

Date:  June 6, 2005


                                     - 11 -