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 June 30, 2005
                                                 -------------

                                       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 0-25413

                             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 [X] No [ ]

                      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 September 9, 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 June 30, 2005


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

Item 1 - Consolidated Balance Sheet
           at June 30, 2005                                                  1

         Consolidated Statements of Operations
           for the three months and six months
           ended June 30, 2005 and June 30, 2004                             2

         Consolidated Statements of Cash Flows
           for the six months ended
           June 30, 2005 and June 30, 2004                                   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                                             9

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                                                                13

<PAGE>


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

                              FINANCIAL STATEMENTS

                                  JUNE 30, 2005

<PAGE>

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









                                TABLE OF CONTENTS






Balance Sheet                                                             1

Statements of Operations                                                  2

Statements of Cash Flows                                                  3

Notes to Financial Statements                                            4-6

<PAGE>

                             RENEWABLE ASSETS, INC.
                                  SUCCESSOR TO
                  A.M.S. MARKETING, INC. - PHOTOCOPIER DIVISION
                          (A DEVELOPMENT STAGE COMPANY)
                                  BALANCE SHEET
                                  JUNE 30, 2005



                                     ASSETS

CURRENT ASSETS:
    Cash                                                              $   10,130
    Commissions Receivable                                                 4,000
                                                                      ----------

TOTAL CURRENT ASSETS                                                  $   14,130
                                                                      ==========


                      LIABILITIES AND SHAREHOLDER'S EQUITY


CURRENT LIABILITIES:
    Accounts Payable                                                  $      264
    Income Taxes Payable                                                     315
                                                                      ----------

              TOTAL CURRENT LIABILITIES                                      579

DUE TO PARENT                                                              5,700
                                                                      ----------

TOTAL LIABILITIES                                                          6,279
                                                                      ----------

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                                  4,837
                                                                      ----------
              TOTAL SHAREHOLDER'S EQUITY                                   7,851
                                                                      ----------

TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY                            $   14,130
                                                                      ==========


See accompanying notes to financial statements.

                                      - 1 -
<PAGE>

                             RENEWABLE ASSETS, INC.
                                  SUCCESSOR TO
                  A.M.S. MARKETING, INC. - PHOTOCOPIER DIVISION
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF OPERATIONS
                     SIX MONTHS ENDED JUNE 30, 2005 AND 2004
                                   (UNAUDITED)


<TABLE>
<CAPTION>
                                  SIX MONTHS ENDED              THREE MONTHS ENDED        CUMULATIVE
                                       JUNE 30                        JUNE 30             DEVELOPMENT
                             ----------------------------   ---------------------------      STAGE
                                 2005            2004           2005           2004         AMOUNTS
                             ------------    ------------   ------------   ------------   ------------
<S>                          <C>             <C>            <C>            <C>            <C>
COMMISSION REVENUES          $     11,470    $      3,760   $      4,000   $      2,160   $     65,525

GENERAL AND ADMINISTRATIVE
    EXPENSES                        9,016           1,905          1,898          1,505        156,447
                             ------------    ------------   ------------   ------------   ------------

INCOME (LOSS) BEFORE
    INCOME TAXES                    2,454           1,855          2,102            655        (90,922)

PROVISION FOR INCOME TAXES            315             278             --             98            791
                             ------------    ------------   ------------   ------------   ------------

NET INCOME (LOSS)            $      2,139    $      1,577   $      2,102   $        557   $    (91,713)
                             ============    ============   ============   ============   ============

BASIC AND DILUTED EARNINGS
    (LOSS) PER SHARE         $      (.001)   $         --   $         --   $         --   $      (.030)
                             ============    ============   ============   ============   ============

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>

                             RENEWABLE ASSETS, INC.
                                  SUCCESSOR TO
                  A.M.S. MARKETING, INC. - PHOTOCOPIER DIVISION
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF CASH FLOWS
                     SIX MONTHS ENDED JUNE 30, 2005 AND 2004
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                 CUMULATIVE
                                                                                 DEVELOPMENT
                                                                                    STAGE
                                                     2005            2004          AMOUNTS
                                                 ------------    ------------    ------------
<S>                                              <C>             <C>             <C>
CASH FLOWS FROM OPERATING
    ACTIVITIES:
        Net Income (Loss)                        $      2,139    $      1,577    $    (91,713)
        Adjustments to Net Cash Provided
            by (Used In) Operating Activities:
                Commissions Receivable                 (2,800)         (2,160)         (4,000)
                Accounts Payable                          (36)            540             264
                Income Taxes Payable                     (161)            278             315
                                                 ------------    ------------    ------------
              NET CASH PROVIDED BY (USED IN)
                      OPERATING ACTIVITIES               (858)            235         (95,134)
                                                 ------------    ------------    ------------

CASH FLOWS FROM FINANCING
    ACTIVITIES:
        Issuance of Common Stock                           --           3,014          99,564
        Proceeds from Borrowings                        5,700              --          33,200
        Repayment of Borrowings                            --              --         (27,500)
                                                 ------------    ------------    ------------
              NET CASH PROVIDED BY
                  FINANCING ACTIVITIES                  5,700           3,014         105,264
                                                 ------------    ------------    ------------

NET INCREASE (DECREASE) IN CASH                         4,842           3,249          10,130

CASH - Beginning of Period                              5,288              --              --
                                                 ------------    ------------    ------------

CASH - End of Period                             $     10,130    $      3,249    $     10,130
                                                 ============    ============    ============
</TABLE>


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

The Company made payments for income taxes amounting
    to $476. No interest payments were made.

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
                                  JUNE 30, 2005



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 approval of the transaction by
              the Securities and Exchange Commission.

                                      - 4 -
<PAGE>

                             RENEWABLE ASSETS, INC.
                                  SUCCESSOR TO
                   A.M.S. MARKETING, INC. PHOTOCOPIER DIVISION
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2005



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 commissions receivable and accounts payable
              approximate fair value at June 30, 2005.

           Commissions Receivable:
              All accounts are considered to be fully collectible as of June 30,
              2005.

           Commission Revenues:
              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
                                  JUNE 30, 2005



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 -

           The Company received a $5,700 working capital advance from the
           shareholder (parent company) during 2005.

           Commission expense of $940 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 and the sale of common stock to the public.

                                      - 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.
Mr. Schiffrin, the Company and International Imaging Systems have agreed that
Mr. Schiffrin will accept and receive shares of International Imaging Systems'
common stock in lieu of any commissions accrued or that may accrue through June
30, 2006.

         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.

                                     - 7 -
<PAGE>

         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 June 30, 2005 was
characterized by revenues of $4,000, offset by general and administrative
expenses of $1,898, resulting in a net profit of $2,102 in such period as
compared to revenues of $2,160, general and administrative expenses of $1,505,
and a net profit of $655 in the same period in the prior year.

Results of Operations

Sales
-----

         Sales for the three month period ended June 30, 2005 were $4,000 as
compared to sales of $2,160 for the same period in the prior year, an increase
of 85%. Sales for the six months period ended June 30, 2005 were $11,470 as
compared to sales of $3,760 for the same period in the prior year, an increase
of 205%. The increase in sales for both periods is not considered meaningful.
The Company does not believe that fluctuations between reporting periods is
necessarily indicative of any trend but is more related to factors beyond the
Company's control. Accordingly, comparisons between periods may not be
meaningful.

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

         General and administrative expenses ("G&A") were $1,898, or 47% of
sales for the three months ended June 30, 2005 as compared to $1,505, or 70% of
sales for the same period in the prior fiscal year. G & A were $9,016, or 79% of
sales for the six months ended June 30, 2005 as compared to $1,905, or 51% of
sales for the same period in the prior year. The increase in G & A as a
percentage of sales in the six month period ended June 30, 2005 is primarily
attributable to the allocation of certain legal and accounting expenses by our
parent, International Imaging Systems.

                                     - 8 -
<PAGE>

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

         The Company financed its operations during the three month period ended
June 30, 2005, through revenues from operations. As of June 30, 2005, the
Company's principal sources of liquidity consisted of cash of $10,130 and
commissions receivable $4,000. Because we have limited operating expenses, we
believe that such funds, together with expected revenues from operations, will
be adequate to fund operations 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 certain of our current activities.

ITEM 3. CONTROLS AND PROCEDURES

(a) Disclosure Controls. We conducted an evaluation, with the participation of
the Chief Executive and Chief Financial Officer, of the effectiveness of our
disclosure controls and procedures as of the end of the period covered by this
report. Our disclosure controls and procedures are designed to ensure that
information required to be disclosed by Renewable Assets, Inc. in the reports we
filed under the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), is recorded, processed, summarized and reported on a timely basis. Based
upon that evaluation, the Chief Executive and Chief Financial Officer concluded
that our disclosure controls and procedures were effective as of the end of the
period covered by this report so as to alert him in a timely fashion to material
information required to be disclosed in reports we file under the Exchange Act.

(b) Changes in Internal Control Over Financial Reporting.

    None.

                           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>

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

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

      (b)   Reports on Form 8-K

            None

                                     - 10 -
<PAGE>

                                   SIGNATURES

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 duly authorized.


RENEWABLE ASSETS, INC.

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

Dated: September 14, 2005

                                     - 11 -