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 June 30, 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 Transitional Small Business Format     Yes     No X      MEDITECNIC, INC. (A DEVELOPMENT STAGE COMPANY) BALANCE SHEET AS OF JUNE 30, 2002 AND DECEMBER 31, 2001  June 30 December 31 ASSETS 2002 2001  Current Assets Cash and Cash Equivalents $ 96,211 $ 35,264 Interest Receivable 38,095 29,195 Accounts Receivable 88,495 14,150 Prepaid Expenses 11,356 11,356 Marketable Securities 222,335 627,375 Total Current Assets $ 456,492 $ 717,340  Fixed Assets Office Furniture 13,036 8,200 Office Equipment 54,481 52,622 Data Processing Equipment 19,998 19,316 Equipment Installation 27,903 10,762 Organization Costs 14,650 240 130,067 91,140 Accumulated Depreciation (36,372) (28,264) Total Fixed Assets 93,695 62,876  Other Assets Patents 637,260 637,260 Research and Development (net of $197,745 and $113,057 amortization 246,069 211,817 Surrender Value of Life Insurance -- 12,744 Refundable Deposits 234,066 240,392 Total Other Assets 1,117,395 1,102,213  Total Assets $ 1,667,582 $ 1,882,429  LIABILIITES AND STOCKHOLDERS EQUITY Current Liabilities Accounts Payable 74,124 61,175 Accrued Liabilities 5,312 -- Loans from Shareholders 59,340 -- Total Current Liabilities 138,776 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 (2,003,675) (1,723,363) Accumulated Other Comprehensive Income 29,882 42,017 1,528,807 1,821,254  Total Liabilities and Stockholders Equity $ 1,667,582 $ 1,882,429  0.8300   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 JUNE 30 JUNE 30 JUNE 30 JUNE 30 TO Income 2002 2001 2002 2001 JUNE 30, 2002 Sales Turnover $ 84,688 $ -- $ 42,344 $ -- $ 179,014 Research and Development -- -- -- -- 357,332 Realization of Patents -- -- -- -- 90,734 Other Revenue -- -- -- -- 4,123 Total Income 84,688 -- 42,344 -- 631,203  Operating Expenses General and Administrative 13,068 3,000 6,534 (3,000) 172,025 Bank Charges 1,590 8,567 795 54 38,539 Audit Fees 6,900 -- 1,100 -- 18,235 Marketing and Advertising 2,202 656 1,101 -- 3,813 Other Financial Charges 52 -- 26 -- 55,905 Legal and Honoraries Fees -- 1,496 -- 94 7,240 Research and Development 54,694 96,525 27,347 166,894 1,046,124 Translation Fees -- 1,378 -- 845 3,619 Patent Fees 64,188 3,104 32,094 19,617 295,076 Travel 14,426 -- 7,213 -- 58,304 Depreciation 8,108 -- 4,054 -- 36,372 Amortization 84,688 -- 42,344 -- 197,745 Staff Research 63,177 -- 14,922 -- 517,592 Office Expense 7,236 -- 3,618 -- 24,229 Small Materials and Supplies -- -- -- -- 69,490 Postage and Delivery 126 -- 63 -- 513 Insurance 204 -- 102 -- 7,829 Promotions and Seminars 11,922 -- 5,961 -- 54,082 Telephone 1,440 -- 720 -- 5,227 Office Rent 12,798 -- 6,399 -- 35,804 Utilities -- -- -- -- 318 Repairs and Maintenance 150 -- 75 -- 1,162 Payroll Taxes 15,210 -- 7,605 -- 15,210 Total Operating Expenses 362,179 114,726 162,073 184,504 2,664,453  Net Operating Income (Loss) (277,491) (114,276) (119,729) (184,504) (2033,250)  Other Income (Expense) Interest Income 2,041 -- 2,041 -- 38,815 Insurance Indemnities -- -- -- -- 10,568 Interest Expense (1,102) -- (551) -- (10,771) Other Taxes (3,760) -- (1,880) -- (9,037) Total Other Income (Expense) (2,821) -- (390) -- 29,575  Net Income (Loss) $ (280,312) $ (114,726) $ (120,119) $ (184,504) $ (2,003,675)  Other Comprehensive Income (Loss) Gains (Losses) on Exchange Rates (5,185) 559 (4,804) (5,597) (2,373) Gain (Loss) in Marketable Securities (6,950) 49,715 (8,991) 12,880 32,255 Net Comprehensive Income (Loss) (12,135) 50,274 (13,795) 7,283 29,882  Net Income (Loss) per share $ (0.0372) $ (0.0152) $ (0.0160) $ (0.0245) $ (0.2662)                                         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 CASH FLOWS FROM OPERATING ACTIVITIES JUNE 30 JUNE 30 JUNE 30 JUNE 30 TO 2002 2001 2002 2001 JUNE 30, 2002 Net Income $ (280,312) $ (231,486) $ (120,119) $ (184,504) $ (2,003,675)  Adjustments to reconcile net income to net cash provided by operating activities Depreciation 8,108 -- 4,054 -- 36,372 Amortization 84,688 -- 42,344 -- 197,745 Increase (decrease) in: Interest Receivable (8,900) -- (8,900) -- (38,095) Accounts Receivable (74,345) -- (35,543) -- (88,495) Prepaid Expenses -- -- -- -- (11,356) Research and Development (106,289) -- (39,750) -- (443,814) Decrease (increase) in: Accounts Payable 12,949 16,909 1,784 830 74,124 Other Comprehensive Income (12,135) (19,379) (13,795) 7,283 29,882 Accrued Liabilities 5,312 -- 2,656 --) 5,312 Net Cash Provided (Used) By Operating Activities (370,924) (233,956) (167,270) (176,391) (2,242,001)  CASH FLOWS FROM INVESTING ACTIVITIES  Cash Used for Deposit 3,072 -- -- -- (234,066) Surrender Value of Life Insurance -- -- -- -- -- Cash Used of Patent Acquisition -- (110,707) -- -- (637,260) Acquisition of Fixed Assets 2,805 -- (20,463) -- (130,067) (Increase) decrease in Marketable Securities (13,349) 13,720 235,779 (12,880) (222,308) Net Cash (Used) By Investing Activities (7,472) (96,987) 215,316 (12,880) (1,223,701)  CASH FLOWS FROM FINANCING ACTIVITIES  Loans From Shareholders 324,418 -- 20,000 -- 59,340 Acquisition -- -- -- -- 3,502,573 Net Cash (Used) By Financing Activities 324,418 -- 20,000 -- 3,561,913  NET INCREASE (DECREASE) IN CASH 87,289 (330,943) 68,046 (189,271) 96,211  CASH AT BEGINNING OF PERIOD 12,500 740,278 28,165 598,606 --  CASH AT END OF PERIOD $ 99,789 $ 409,335 $ 96,211 $ 409,335 $ 96,211  Cash Paid for Interest 2,237 -- 551 -- 10,771  See accompanying Notes to Financial Statements.


MEDITECNIC, INC. (A Development Stage Company) NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) June 30, 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 June 30, 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, 2001.  Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION  The Company had sales of $42,344 and $84,688 in the three and six months ended June 30, 2002, compared to no sales in 2001. Our net loss was $119,729 and $277,471 for the three and six months ended June 30, 2002, compared to $184,504 and $231,497 for the three and six months ended June 30, 2001. The increased loss was due to increases in general and administrative expenses from the commencement of marketing efforts in 2002.  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 is carried out 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 $318,546 at June 30, 2002, 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 decide d 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)