UNITED STATES SECURITIES AND EXCHANGE COMMISSION  WASHINGTON, D.C. 20549  FORM 10-QSB/A  [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2003  [ ] 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 0-23957   MEDITECNIC, INC. (Exact Name of small business issuer as specified in its charter)  Nevada 87-0430532 (State or other Jurisdiction of I.R.S. Employer Identi- Incorporation or Organization fication No.)  24351 Pasto Road, #B, Dana Point, California 92629 (Address of Principal Executive Offices) (Zip Code)  (949) 489-2400 (Issuer's Telephone Number, including Area Code)  Indicate by check mark whether the Registrant (i) 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 (of for such shorter period that the Registrant was required to file such reports) and (ii) has been subject to such filing requirements for the past 90 days.  YesNo X Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act. YesNo __X__ Indicate the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date.  Common Stock, par value  $.001 7,527,485 Title of Class Number of Shares outstanding at October 6, 2008 Transitional Small Business Format     Yes     No X  MEDITECNIC, INC. (A DEVELOPMENT STAGE COMPANY) BALANCE SHEET AS OF SEPTEMBER 30, 2003 AND DECEMBER 31, 2002  September 30 December 31 ASSETS 2003 2002  Current Assets Cash and Cash Equivalents $ 132,488 $ 12,500 Interest Receivable 1,496 35,749 Accounts Receivable 44,248 176,989 Prepaid Expenses -- 11,356 Marketable Securities 96,030 55,984 Total Current Assets $ 274,262 $ 292,578  Fixed Assets Office Furniture 17,871 17,871 Office Equipment 56,340 56,340 Data Processing Equipment 20,681 20,681 Equipment Installation 49,044 49,044 Organization Costs 24,851 29,059 168,787 172,995 Accumulated Depreciation (56,640) (44,478) Total Fixed Assets 112,147 128,517  Other Assets Patents 637,260 637,260 Refundable Deposits 241,121 247,267 Research and Development 159,196 132,869 Total Other Assets 1,037,577 1,017,396  Total Assets $ 1,423,986 $ 1,438,491  LIABILIITES AND STOCKHOLDERS EQUITY Current Liabilities Accounts Payable 167,645 74,192 Accrued Payroll Taxes 15,970 9,539 Loans from Shareholders 557,263 70,635 Total Current Liabilities 740,878 154,366  Stockholders Equity Preferred Stock (1,000 shares issued and outstanding) 1 1 Capital Stock (7,527,485 issued and outstanding) 7,528 7,528 Additional Paid In Capital 3,495,072 3,495,072 Accumulated Deficit During the Development Stage (2,837,721) (2,236,480) Accumulated Other Comprehensive Income 18,229 18,005 683,108 1,248,125  Total Liabilities and Stockholders Equity $ 1,423,986 $ 1,438,491     See accompanying Notes to Financial Statements.


MEDITECNIC, INC. (A DEVELOPMENT STAGE COMPANY) STATEMENTS OF OPERATIONS CUMULATIVE FOR THE SIX FOR THE THREE FROM MONTHS ENDED MONTHS ENDED MARCH 24, 1998 SEPTEMBER 30 SEPTEMBER 30 SEPTEMBER 30 SEPTEMBER 30 TO Income 2003 2002 2003 2002 SEPTEMBER 30, 2003 Sales Turnover $ -- $ 124,588 $ -- $ 39,900 $ 258,814 Research and Development -- -- -- -- 357,332 Realization of Patents -- -- -- -- 90,734 Other Revenue 7,429 -- 2,476 -- 11,552 Total Income 7,429 124,588 2,476 39,900 718,432  Operating Expenses General and Administrative 31,784 35,470 10,594 22,402 248,612 Bank Charges 1,300 5,853 435 4,263 48,365 Audit Fees 7,500 8,020 2,500 1,120 27,975 Marketing and Advertising 4,398 3,303 1,467 1,101 10,413 Other Financial Charges -- 24 -- (28) 55,877 Legal and Honoraries Fees 8,672 5,092 2,891 5,092 26,096 Research and Development -- 57,042 -- 2,347 1,049,844 Translation Fees -- -- -- -- 3,619 Patent Fees 135,542 87,026 45,181 22,838 476,293 Travel 21,857 21,669 7,286 7,243 94,704 Depreciation 12,162 12,162 4,054 4,054 56,640 Amortization 88,575 127,032 29,526 42,344 371,009 Staff Research 173,655 78,100 57,885 14,923 721,092 Office Expense 4,964 10,854 1,655 3,618 36,428 Vehicle Expense -- -- -- -- -- Entertainment 12,943 -- 4,314 -- 12,943 Small Materials and Supplies -- -- -- -- 69,490 Postage and Delivery 576 189 192 63 1,216 Insurance 2,041 306 680 102 10,073 Promotions and Seminars 7,471 17,883 2,490 5,961 73,476 Telephone 945 2,160 315 720 7,612 Office Rent 69,432 19,197 23,145 6,399 118,034 Utilities -- -- -- -- 318 Repairs and Maintenance 326 224 109 74 1,637 Payroll Taxes 23,698 22,815 7,899 7,605 54,119 Total Operating Expenses 607,841 514,421 202,618 152,241 3,575,885  Net Operating Income (Loss) (600,412) (389,833) (200,142) (112,341) (2,857,453)  Other Income (Expense) Interest Income -- 1,833 -- (208) 38,607 Interest Expense (2,237) (1,653) -- (551) (14,108) Insurance Indemnities -- -- -- -- 10,568 Other Taxes (1,559) (4,662) (520) (1,880) (15,335) Total Other Income (Expense) (3,796) (4,482) (520) (2,639) 19,732  Net Income (Loss) $ (604,208) $ (394,315) $ (200,662) $ (114,980) $ (2,837,721)  Other Comprehensive Income (Loss) Gains (Losses) on Exchange Rates (18,641) (9,989) (4,804) (4,804) (30,621) Change in Value of Life Insurance -- -- -- -- 12,744 Gain (Loss) in Marketable Securities 21,833 (15,941) 7,278 (8,991) 36,106 Net Comprehensive Income (Loss) 3,192 (25,930) 2,474 (13,795) 18,229  Net Income (Loss) per share $ (0.0803) $ (0.0524) $ (0.0267) $ (0.0153) $ (0.3770)  See accompanying Notes to Financial Statements      MEDITECNIC, INC. (A DEVELOPMENT STAGE COMPANY) STATEMENT OF CASH FLOWS CUMULATIVE FOR THE SIX FOR THE THREE FROM MONTHS ENDED MONTHS ENDED MARCH 24, 1998 SEPPTEMBER 30 SEPTEMBER 30 SEPTEMBER 30 SEPTEMBER 30 TO CASH FLOWS FROM OPERATING ACTIVITIES 2003 2002 2003 2002 SEPTEMBER 30, 2003 Net Income $ (604,208) $ (394,315) $ (200,662) $ (114,980) $ (2,837,721)  Adjustments to reconcile net income to net cash provided by operating activities Depreciation 12,162 12,162 4,054 4,054 56,640 Amortization 88,575 127,032 29,526 42,344 371,009 Increase (decrease) in: Interest Receivable 34,253 (7,727) 35,749 1,173 (1,496) Accounts Receivable 132,741 (108,592) 44,247 (34,247) (44,248) Prepaid Expenses 11,356 -- 5,896 -- -- Research and Development (114,903) (107,266) (61,870) -- (530,206) Decrease (increase) in: Accounts Payable 93,453 12,983 31,151 34 167,645 Other Comprehensive Income 3,192 (25,930) 2,474 (13,795) 18,229 Accrued Liabilities 6,431 7,426 2,144 2,114 15,970 Net Cash Provided (Used) By Operating Activities (336,948) (484,227) (107,291) (113,303) (2,784,178)  CASH FLOWS FROM INVESTING ACTIVITIES Cash Used for Deposit 6,146 (6,326) 3,074 -- (241,121) Surrender Value of Life Insurance -- 12,744 -- -- -- Cash Used of Patent Acquisition -- -- -- -- (637,260) (Acquisition) Disposal of Fixed Assets 4,208 (60,395) 1,403 (21,468) (168,787) (Increase) decrease in Marketable Securities (40,046) 528,368 (26,697) 123,328 (96,030) Net Cash (Used) By Investing Activities (26,692) 474,391 (22,220) 101,860 (1,143,198)  CASH FLOWS FROM FINANCING ACTIVITIES Loans From Shareholders 486,628 64,988 162,210 5,648 557,263 Sale of Common Stock -- -- -- -- 3,502,601 Net Cash (Used) By Financing Activities 486,628 64,988 162,210 5,648 4,059,864  NET INCREASE (DECREASE) IN CASH 119,988 55,152 32,699 (5,795) 132,488  CASH AT BEGINNING OF PERIOD 12,500 35,264 99,789 96,211 --  CASH AT END OF PERIOD $ 132,488 $ 90,416 $ 132,488 $ 90,416 $ 132,488  Cash Paid for Interest 2,237 1,653 -- 551 14,057


See accompanying Notes to Financial Statements. MEDITECNIC, INC. (A Development Stage Company) NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2003   Item 1.       Comments  The accompanying financial statements are unaudited, but in the opinion of the management of the Company, contain all adjustments, consisting of only normal recurring accruals, necessary to present fairly the financial position at September 30, 2003, the results of operations for the three and nine months ended September 30, 2003 and 2002, and the cash flows for the nine months ended September 30, 2003 and 2002.  Reference is made to the Company's Form 10-KSB for the year ended December 31, 2002.  The results of operations for the nine months ended March 31, 2003 are not necessarily indicative of the results of operations to be expected for the full fiscal year ending December 31, 2003.  Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION  The Company had no sales in the three and six months ended September 30, 2003, compared to sales of $39,900 and $124,588 in the three and nine months ended September 30, 2002. Our net loss was $200,142, and $600,442 for the three and six months ended September 30, 2003, compared to $114,980 and $394,315 for the three and nine months ended September 30, 2002. The increase primarily was due to the increases in general and administrative costs and increased patent and research costs to improve the Companys product line.  The Company invests cash in marketable securities. A portion of the Companys assets are valued in currencies other than the US dollar, primarily Swiss francs. We recognize gains and losses on the currency exchange rate changes from time to time.  The Company had cash on hand and marketable securities of $228,518 at September 30, 2003, which is believed to be sufficient to fund the Companys operations until at least the end of fiscal 2003.  Information included in this annual report  includes forward looking statements, which can be identified by the use of forward-looking terminology such as may, expect, anticipate, believe, estimate, or continue, or the negative thereof or other variations thereon or comparable terminology. The statements in "Risk Factors" and other statements and disclaimers in this registration statement constitute cautionary statements identifying important factors, including risks and uncertainties, relating to the forward-looking statements that could cause actual results to differ materially from those reflected in the forward-looking statements.  Since we have not yet generated any revenues, we are a development stage company as that term is defined in paragraphs 8 and 9 of SFAS No. 7.   Our auditors have included an explanatory paragraph in their report on our financial statements, relating to the uncertainty of our business as a going concern, due to our lack of operating history or current revenues and competitive position.  We do not believe that conventional financing, such as bank loans, is available to us due to these factors.  We have no bank line of credit available to us.  Management believes that it will be able to raise the required funds for operations from one or more future offerings, in order to effect our business plan.  Our future operating results are subject to many facilities, including:  o     our success in developing our technology;  o     our ability to obtain customers for our devices;  o     the effects of competition;  o     our ability to obtain additional financing; and  o     other risks which we identify in future filings with the SEC.  Any or all of our forward looking statements in this annual report and in any other public statement we make may turn out to be wrong. They can be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties. Consequently, no forward looking statement can be guaranteed. In addition, we undertake no responsibility to update any forward-looking statement to reflect events or circumstances which occur after the date of this report.  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 --None





SIGNATURES  Pursuant to 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 thereunto duly authorized.   MEDITECNIC, INC.    Date: October 6, 2008 By:/s/ Luc Badel Luc Badel Treasurer (chief financial officer and accounting officer and duly authorized officer)