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, 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 MARCH 31, 2003 AND DECEMBER 31, 2002  March 31 December 31 ASSETS 2003 2002  Current Assets Cash and Cash Equivalents $ 60,256 $ 740,278 Interest Receivable 36,497 4,855 Accounts Receivable 132,742 Prepaid Expenses 8,517 11,356 Marketable Securities 55,984 766,990 Total Current Assets $ 293,996 $ 1,523,479  Fixed Assets Office Furniture 17,871 Office Equipment 56,340 Data Processing Equipment 20,681 Equipment Installation 49,044 Organization Costs 27,657 171,593 Accumulated Depreciation (48,532) Total Fixed Assets 123,061  Other Assets Patents 637,260 761,620 Refundable Deposits 245,731 296,896 Research and Development net of $311,959 and $282,434 amortization 131,396 Total Other Assets 1,014,387 1,058,516  Total Assets $ 1.431,444 $ 2,581,995  LIABILIITES AND STOCKHOLDERS EQUITY Current Liabilities Accounts Payable 105,343 -- Accrued Payroll Taxes 11,683 Loans from Shareholders 232,844 Total Current Liabilities 349,870 --  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 3,495,055 3,075,555 Accumulated Deficit During the Development Stage (2,436,406) (612,137) Accumulated Other Comprehensive Income 15,397 111,549 1,081,574 2,581,995  Total Liabilities and Stockholders Equity $ 1,431,444 $ 2,581,995     See accompanying Notes to Financial Statements.      MEDITECNIC, INC. (A DEVELOPMENT STAGE COMPANY) STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2003 AND 2002 AND CUMULATIVE FROM MARCH 24, 1998 TO MARCH 31, 2003 Cumulative March 31 March 31 1998 TO Income 2003 2002 2003 Sales Turnover $ -- $ 42,344 $ 258,814 Research and Development -- -- 357,332 Realization of Patents -- -- 90,734 Other Revenue 2,477 -- 6,600 Total Income 2,477 42,344 713,480 Operating Expenses General and Administrative 10,595 6,534 227,423 Bank Charges 433 795 47,498 Audit Fees 2,500 5,800 22,975 Marketing and Advertising 1,466 1,101 7,481 Other Financial Charges -- 26 55,877 Legal and Honoraries Fees 2,891 -- 20,315 Research and Development -- 27,347 1,049,844 Translation Fees -- -- 3,619 Patent Fees 45,181 32,094 385,932 Travel Expenses 7,286 7,213 80,133 Depreciation 4,054 4,054 48,532 Amortization 29,525 42,344 311,959 Vehicle Expense -- -- -- Entertainment 4,315 -- 4,315 Staff Research 57,885 48,255 605,322 Office Expenses 1,654 3,618 33,118 Small Materials and Supplies -- -- 69,490 Postage and Delivery 192 63 832 Insurance  Business 681 102 8,713 Promotions and Seminars 2,491 5,961 68,496 Telephone 315 720 6,982 Office Rent 23,142 6,399 71,744 Utilities -- -- 318 Repairs and Maintenance 108 75 1,419 Payroll Taxes 7,900 7,605 38,321 Total Operating Expenses 202,614 200,107 3,170,658  Net Operating Income (Loss) (200,137) (157,763) (2,457,178) Other Income (Expense) Interest Income -- -- 38,607 Interest Expense (2,237) (551) (14,108) Insurance Indemnities -- -- 10,658) Other Taxes (519) (1,880) (14,295) Total Other Income (Expense) (2,756) (2,431) 20,772  Net Income (Loss) $ (202,893) $ (160,194) $ (2,436,406) Other Comprehensive Income (Loss) Gains (Losses) on Exchange Rates (6,917) (381) (18,897) Change in Value of Life Insurance -- 12,744 Gain (Loss) in Marketable Securities (7,277) 2,041 21,550 Net Comprehensive Income (Loss) 360 1,660 15,397  Net Income (Loss) per share $ (0) $ (0.0213) $ -- See accompanying Notes to Financial Statements.       MEDITECNIC, INC. (A DEVELOPMENT STAGE COMPANY) STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2003 AND 2002 AND CUMULATIVE FROM MARCH 24, 1998 TO MARCH 31, 2003  Cumulative March 31 March 31 1998 TO CASH FLOWS FROM OPERATING ACTIVITIES 2003 2002 2003 Net Income $ (202,893) $ (160,194) $ (2,436,406)  Adjustments to reconcile net income to net cash provided by operating activities Depreciation 4,054 4,054 48,532 Amortization 29,525 42,344 311,959 Increase (decrease) in: Interest Receivable (748) -- (36,497) Accounts Receivable 44,247 (38,802) (132,742) Prepaid Expenses 2,839 -- (8,517) Research and Development (28,070) (66,689) (443,373) Increase (decrease) in: Accounts Payable 31,151 11,165 105,343 Accrued Liabilities 2,145 2,656 11,683 Other Comprehensive Income 359 1,660 15,397 Net Cash Provided (Used) By Operating Activities (117,391) (203,806) (2,564,621)  CASH FLOWS FROM INVESTING ACTIVITIES  Cash Used for Deposit 1,536 6,326 (245,731) (Acquisition) Disposal of Fixed Assets 1,402 (18,464) (171,593) Cash Used of Patent Acquisition -- -- (637,260) Surrender Value of Life Insurance -- 12,744 -- Increase (decrease) in Marketable Securities -- 169,261 (55,984) Net Cash (Used) By Investing Activities 2,938 169,867 (1,110,568)  CASH FLOWS FROM FINANCING ACTIVITIES  Loans From Shareholders 162,209 39,340 232,844 Sale of Common Stock -- -- 3,502,601 Net Cash (Used) By Financing Activities 162,209 39,340 3,735,445  NET INCREASE (DECREASE) IN CASH 47,756 5,401 60,256  CASH AT BEGINNING OF PERIOD 12,500 35,264 --  CASH AT END OF PERIOD $ 60,256 $ 40,665 $ 60,256  Cash Paid for Interest 2,237 551 14,057        See accompanying Notes to Financial Statements.      MEDITECNIC, INC. (A Development Stage Company) NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 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 March 31, 2002, the results of operations for the three months ended March 31, 2003 and 2002, and the cash flows for the three months ended March 31, 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 three 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 sales of $2,477 and $43,224 in the three months ended March31, 2003 and 2002, respectively. Our net loss was $202,893 and $160,194 for the three months ended March 31, 2003 and 2002, respectively. The increase in expenses in 2003 was primarily caused by increases in general and administrative expenses..  The Company invests cash in marketable securities. A portion of the Companys current 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 $116,240 at March 31, 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)