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, 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  MEDITECNIC, INC. (A DEVELOPMENT STAGE COMPANY) BALANCE SHEET AS OF JUNE 30, 2003 AND DECEMBER 31, 2002  June 30 December 31 ASSETS 2003 2002  Current Assets Cash and Cash Equivalents $ 99,789 $ 12,500 Interest Receivable 37,245 35,749 Accounts Receivable 88,495 176,989 Prepaid Expenses 5,896 11,356 Marketable Securities 69,333 55,984 Total Current Assets $ 300,758 $ 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 26,254 29,059 170,190 172,995 Accumulated Depreciation (52,586) (44,478) Total Fixed Assets 117,604 128,517   Other Assets Patents 637,260 637,260 Research and Development (net of $341,483 and $282,434 amortization 126,852 132,869 Refundable Deposits 244,195 247,267 Total Other Assets 1,008,307 1,017,396  Total Assets $ 1,426,669 $ 1,438,491  LIABILIITES AND STOCKHOLDERS EQUITY Current Liabilities Accounts Payable 136,494 74,192 Accrued Payroll Taxes 13,826 9,539 Loans from Shareholders 395,053 70,635 Total Current Liabilities 545,373 154,366  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 (2,637,059) (2,236,480) Accumulated Other Comprehensive Income 15,755 18,005 881,296 1,248,125  Total Liabilities and Stockholders Equity $ 1,426,669 $ 1,438,491     See accompanying Notes to Financial Statements.


MEDITECNIC, INC. (A DEVELOPMENT STAGE COMPANY) STATEMENTS OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2001 AND 2000 AND CUMULATIVE FROM MARCH 24, 1998 TO JUNE 30, 2001 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 2003 2002 2003 2002 JUNE 30, 2003 Sales Turnover $ -- $ 84,688 $ -- $ 42,344 $ 258,814 Research and Development -- -- -- -- 357,332 Realization of Patents -- -- -- -- 90,734 Other Revenue 4,953 -- 2,476 -- 9,076 Total Income 4,953 84,688 2,476 42,344 715,956  Operating Expenses General and Administrative 21,190 13,068 10,595 6,534 238,018 Bank Charges 865 1,590 432 795 47,930 Audit Fees 5,000 6,900 2,500 1,100 25,475 Marketing and Advertising 2,931 2,202 1,465 1,101 8,946 Other Financial Charges -- 52 -- 26 55,877 Legal and Honoraries Fees 5,781 -- 2,890 -- 23,205 Research and Development -- 54,694 -- 27,347 1,049,844 Translation Fees -- -- -- -- 3,619 Patent Fees 90,361 64,188 45,180 32,094 431,112 Travel 14,571 14,426 7,285 7,213 87,418 Depreciation 8,108 8,108 4,054 4,054 52,586 Amortization 59,049 84,688 29,524 42,344 341,483 Vehicle Expense -- -- -- -- -- Entertainment 8,629 -- 4,314 -- 8,629 Staff Research 115,770 63,177 57,885 14,922 663,207 Office Expense 3,309 7,236 1,655 3,618 34,773 Small Materials and Supplies -- -- -- -- 69,490 Postage and Delivery 384 126 192 63 1,024 Insurance  Business 1,361 204 680 102 9,393 Promotions and Seminars 4,981 11,922 2,490 5,961 70,986 Telephone 630 1,440 315 720 7,297 Office Rent 46,287 12,798 23,145 6,399 94,889 Utilities -- -- -- -- 318 Repairs and Maintenance 217 150 109 75 1,528 Payroll Taxes 15,799 15,210 7,899 7,605 46,220 Total Operating Expenses 405,223 362,179 202,609 162,073 3,373,267  Net Operating Income (Loss) (400,270) (227,491) (200,133) (119,729) (2,657,311)  Other Income (Expense) Interest Income -- 2,041 -- 2,041 38,607 Interest Expense (2,237) (1,102) -- (551) (14,108) Insurance Indemnities -- -- -- -- 10,568 Business Taxes (1,039) (3,760) (520) (1,880) (14,815) Total Other Income (Expense) (3,276) (2,821) (520) (390) 20,252  Net Income (Loss) $ (403,546) $ (280,312) $ (200,653) $ (120,119) $ (2,637,059)  Other Comprehensive Income (Loss) Gains (Losses) on Exchange Rates (13,837) (5,815) (6,920) (4,804) (25,817) Change in Value of Life Insurance -- -- -- -- 12,744 Gain (Loss) in Marketable Securities 14,555 (6,950) 7,278 (8,991) 28,828 Net Comprehensive Income (Loss) 718 (12,135) 358 (13,795) 15,755  Net Income (Loss) per share $ (0.0536) $ (0.0372) $ (0.0267) $ (0.0160) $ (0.3503)                                    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 JUNE 30 JUNE 30 JUNE 30 JUNE 30 TO 2003 2002 2003 2002 JUNE 30, 2003 Net Income $ (403,546) $ (280,312) $ (200,653) $ (120,119) $ (2,637,059)  Adjustments to reconcile net income to net cash provided by operating activities Depreciation 8,108 8,108 4,054 4,054 52,586 Amortization 59,049 84,688 29,524 42,344 341,483 Increase (decrease) in: Interest Receivable (1,496) (8,900) (748) (8,900) (37,245) Accounts Receivable 88,494 (74,345) 44,247 (35,543) (88,495) Prepaid Expenses 5,460 -- 2,621 -- (5,896) Research and Development (53,033) (106,289) (24,963) (39,750) (468,336) Decrease (increase) in: Accounts Payable 62,302 12,949 31,151 1,784 136,494 Accrued Liabilities 4,287 (12,135) 2,143 (13,795) 13,826 Other Comprehensive Income 718 5,312 358 2,656 15,755 Net Cash Provided (Used) By Operating Activities (229,657) (370,924) (112,266) (167,270) (2,676,887)  CASH FLOWS FROM INVESTING ACTIVITIES  Cash Used for Deposit 3,072 (6,326) 1,536 -- (244,195) Surrender Value of Life Insurance -- 12,744 -- -- -- Cash Used of Patent Acquisition -- -- -- -- (637,260) (Acquisition) Disposal of Fixed Assets 2,805 (38,927) 1,403 (20,463) (170,190) (Increase) decrease in Marketable Securities (13,349) 405,040 (13,349) 235,779 (69,333) Net Cash (Used) By Investing Activities (7,472) 372,531 (10,410) 215,316 (1,120,978)  CASH FLOWS FROM FINANCING ACTIVITIES  Loans From Shareholders 324,418 59,340 162,209 20,000 395,053 Sale of Common Stock -- -- -- -- 3,502,601 Net Cash (Used) By Financing Activities 324,418 59,340 162,209 20,000 3,897,654  NET INCREASE (DECREASE) IN CASH 87,289 60,947 39,533 68,046 99,789  CASH AT BEGINNING OF PERIOD 12,500 35,264 60,256 28,165 --  CASH AT END OF PERIOD $ 99,789 $ 96,211 $ 99,789 $ 96,211 $ 99,789  Cash Paid for Interest 2,237 -- -- -- 14,057  See accompanying Notes to Financial Statements.


MEDITECNIC, INC. (A Development Stage Company) NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) JUNE 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 June 30, 2003, the results of operations for the three and six months ended June 30,  2003 and 2002, and the cash flows for the six months ended June 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 six months ended June 30, 2003 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 no sales in the three and six months ended June 30, 2003, compared to $42,344 and $84,688  in the three and six months ended June 30, 2002. Our net loss was $403,546 and $280,312for the three and six months ended June 30, 2003, compared to a net loss of  $119,729 and $277,471 for the three and six months ended June 30, 2002. The increase in the loss was due to the lack of sales and the increase in 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 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 $169,122 at June 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)