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 March 31, 2002  [ ] 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 MEDITECNIC, INC. (A DEVELOPMENT STAGE COMPANY) BALANCE SHEET AS OF MARCH 31, 2002 AND DECEMBER 31, 2001  March 31 December 31 ASSETS 2002 2001 Current Assets Cash and Cash Equivalents $ 40,665 $ 35,264 Interest Receivable 29,195 29,195 Accounts Receivable 52,952 14,150 Prepaid Expenses 11,356 11,356 Marketable Securities 458,114 627,375 Total Current Assets $ 592,282 $ 717,340  Fixed Assets Office Furniture 10,618 8,200 Office Equipment 53,552 52,622 Data Processing Equipment 19,657 19,316 Equipment Installation 18,333 10,762 Organization Costs 7,445 240 109,604 91,140 Accumulated Depreciation and Amortization (32,318) (28,264) Total Fixed Assets 77,286 62,876  Other Assets Patents 637,260 637,260 Research and Development (net of $155,401 And 113,057 amortization) 236,162 211,817 Refundable Deposits 234,066 240,392 Surrender Value of Life Insurance -- 12,744 Total Other Assets 1,107,488 1,102,213  Total Assets $ 1,777,056 $ 1,882,429  LIABILIITES AND STOCKHOLDERS EQUITY Current Liabilities Accounts Payable 72,340 61,175 Accrued Liabilities 2,656 -- Loans From Shareholders 39,340 -- Total Current Liabilities 114,336 61,175  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 (1,883,557) (1,723,363) Accumulated Other Comprehensive Income 43,677 42,017 1,662,720 1,821,254  Total Liabilities and Stockholders Equity $ 1,777,056 $ 1,882,429   See accompanying Notes to Financial Statements.      MEDITECNIC, INC. (A DEVELOPMENT STAGE COMPANY) STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2002 AND 2001 AND CUMULATIVE FROM MARCH 24, 1998 TO MARCH 31, 2002 Cumulative March 31 March 31 1998 TO Income 2002 2001 2002 Sales Turnover $ 42,344 $ -- $ 136,670 Research and Development -- -- 357,332 Realization of Patents -- -- 90,734 Product Sales -- -- 4,123 Total Income 42,344 -- 588,859  Operating Expenses General and Administrative 6,534 7,241 165,491 Bank Charges 795 155 37,744 Audit Fees 5,800 5,000 17,135 Marketing and Advertising 1,101 -- 2,712 Other Financial Charges 26 -- 55,879 Legal and Honoraries Fees -- 66 7,240 Research and Development 27,347 10,703 1,018,777 Translation Fees -- -- 3,619 Patent Fees 32,094 19,156 262,982 Travel 7,213 -- 51,091 Depreciation 4,054 -- 32,318 Amortization 42,344 -- 155,401 Staff Research 48,255 -- 502,670 Office Expense 3,618 -- 20,611 Small Materials and Supplies -- -- 69,490 Postage and Delivery 63 -- 450 Insurance 102 -- 7,727 Promotions and Seminars 5,961 -- 48,121 Telephone 720 -- 4,507 Office Rent 6,399 -- 29,405 Utilities -- -- 318 Repairs and Maintenance 75 -- 1,087 Payroll Taxes 7,605 7,605 Total Operating Expenses 200,107 42,321 2,502,381  Net Operating Income (Loss) (157,763) (42,321) (1,913,522) Other Income (Expense) Interest Income -- -- 36,774 Insurance Indemnities -- 10,568 Interest Expense (551) -- (10,220) Other Taxes (1,880) (4,662) (7,157) Total Other Income (Expense) (2,431) (4,662) 29,965 Net Income (Loss) $ (160,194) $ (46,983) $ (1,883,557) Other Comprehensive Income (Loss) Gains (Losses) on Exchange Rates (381) (62) 2,431 Gain (Loss) in Marketable Securities 2,041 (26,600) 41,246 Net Comprehensive Income (Loss) 1,660 (26,662) 43,677 Net Income (Loss) per share $ (0.0213) $ (0.0062) $ -- See accompanying Notes to Financial Statements.       MEDITECNIC, INC. (A DEVELOPMENT STAGE COMPANY) STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2001 AND 2000 AND CUMULATIVE FROM MARCH 24, 1998 TO MARCH 31, 2001  Cumulative March 31 March 31 1998 TO CASH FLOWS FROM OPERATING ACTIVITIES 2002 2001 2002 Net Income $ (160,194) $ (46,983) $ (1,883,557)  Adjustments to reconcile net income to net cash provided by operating activities Depreciation 4,054 -- 32,318 Amortization 42,344 -- 155,401 Increase (decrease) in: Interest Receivable -- 4,743 (29,195) Accounts Receivable (38,802) -- (52,952) Prepaid Expenses -- -- (11,356) Research and Development (66,689) -- (391,563) Increase (decrease) in: Accounts Payable 11,165 16,079 72,340 Accrued Liabilities 2,656 -- 2,656 Other Comprehensive Income 1,660 (26,662) 43,677 Net Cash Provided (Used) By Operating Activities (203,806) (57,566) (2,062,230)  CASH FLOWS FROM INVESTING ACTIVITIES  Cash Used for Deposit 6,326 -- (234,066) (Acquisition) Disposal of Fixed Assets (18,464) -- (109,604) Cash Used for Patent Acquisition -- (110,706) (637,260) Surrender Value of Life Insurance 12,744 -- -- Increase (decrease) in Marketable Securities 169,261 26,600 (458,087) Net Cash (Used) By Investing Activities 169,867 (84,106) (1,439,017)  CASH FLOWS FROM FINANCING ACTIVITIES  Loans From Shareholders 39,340 -- 39,340 Sale of Common Stock -- -- 3,502,573 Net Cash (Used) By Financing Activities 39,340 -- 3,541,913  NET INCREASE (DECREASE) IN CASH 5,401 (141,672) 40,665  CASH AT BEGINNING OF PERIOD 35,264 740,278 --  CASH AT END OF PERIOD $ 40,665 $ 598,606 $ 40,665  Cash Paid for Interest -- -- 7,301     See accompanying Notes to Financial Statements.       MEDITECNIC, INC. (A Development Stage Company) NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2002   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 March 31, 2002, the results of operations for the three months ended March 31,  2002 and 2001, and the cash flows for the three months ended March 31, 2002 and 2001.  Reference is made to the Company's Form 10-KSB for the year ended December 31, 2001.  The results of operations for the three months ended March 31, 2002 are not necessarily indicative of the results of operations to be expected for the full fiscal year ending December 31, 2002.  Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION  The Company had sales of $43,224 in the three months ended March31, 2002 and no sales in the three months ended March 31, 2001. Our net loss was $160,194 for the three months ended March 31, 2002, compared to $33,431 in 2001.The increase in expenses in 2002 was primarily caused by increased research and general and administrative expenses.  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 is in the research and development stage of its products   Research and development was carried out in 2001 by a non affiliated entity, Meditecnic SA, on a contract basis.  The Company has an option to purchase all of the capital stock of Meditecnic SA for CHF 400,000 granted November 5, 1999, of which CHF 300,000 ($195,720) was paid in November 1999 and is accounted for as a deposit. We purchased a patent from Meditecnic in the 2001 quarter for $110,706, and loaned Meditecnic $243,528 in the 2001 quarter. The Company closed on the acquisition of Meditecnic on September 12, 2001. In addition the Company placed a CHF 60,000 deposit for the purchase of patents in December 1999 ($38,346) and a CHF 100,000 ($60,390) for the purchase of an additional patent in February 2000.  The Company had cash on hand and marketable securities of $1,507,268 at March 31, 2001, which is believed to be sufficient to fund the Companys operations until at least the end of fiscal 2002.  The financial statements for the years ended 2000 and 1999 were previously audited by the Companys former independent auditors. In the process of preparing its financial statements for the years ended December 31, 2001 and going forward, the Companys Board of Directors decided to engage its new independent auditors to re-audit the financial statements for 2000 and 1999, because the new independent auditor was unable to obtain access to the prior audit work papers of the former auditing firm, which was no longer in existence.  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)