|SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549


Form 10-QSB
|---------------------------------------------------------------------



(Mark
One)



[X]
 QUARTERLY REPORT UNDER 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



Commission
File Number 0-14119-NY





POLYMER
RESEARCH CORP. OF AMERICA

(Exact
name of small business issuer as specified in its charter)



New
York                                                                                             11-2023495

(State
or Other Jurisdiction of                                                              (IRS
Employer Identification No.)

Incorporation
or Organization)



2186
Mill Avenue, Brooklyn, New York 11234

(Address
of Principal Executive Offices)



(718)
444-4300

Issuers
Telephone Number





Indicate
by check mark whether the registrant (1) 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 (or for such shorter period that
the

registrant
was required to file such reports), and (2) has  been subject to such filing requirements for the
past 90

days.
    Yes   X        No





There
were 2,128,644 shares of the registrants common stock outstanding as of October 31, 2003.





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POLYMER
  RESEARCH CORP. OF AMERICA

FORM 10QSB

September 30, 2003

|PART I     | FINANCIAL                                                                                                 | PAGE NO.
|---------- | --------------------------------------------------------------------------------------------------------- | --------
|           | Item 1. Financial Statements                                                                              |         
|           | Balance Sheets at September 30, 2003 (unaudited) and December
      31, 2002                              | 1       
|           | Statements of Operations for the Three Month Periods Ended
      September 30, 2003 and 2002(unaudited)   | 2       
|           | Statements of Operations for the Nine Month Periods Ended
        September 30, 2003 and 2002 (unaudited) | 3       
|           | Statements of Cash Flows for the Nine Month Periods Ended
        September 30, 2003 and 2002(unaudited)  | 4       
|           | Notes to Financial Statements                                                                             | 5-9     
|           | Item 2. Management's Discussion and Analysis of Financial
      Condition and Results of Operations       | 10-12   
|           | Item 3.Controls and Procedures                                                                            | 12      
|           |                                                                                                           |         
|PART II    | OTHER INFORMATION                                                                                         | 13      
|           | Item 1. Legal Proceedings                                                                                 | 13      
|           | Item 2. Changes in Securities                                                                             | 13      
|           | Item 3. Defaults Upon Senior Securities                                                                   | 13      
|           | Item 4. Submission ov Matters to Vote to Security Holders                                                 | 13      
|           | Item 5. Other Information                                                                                 | 13      
|           | Item 6. Exhibits and Reports on Form 8-K                                                                  | 15      
|           |                                                                                                           |         
|Signatures |                                                                                                           |         



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POLYMER RESEARCH CORP. OF AMERICA NOTES TO FINANCIAL STATEMENTS September 30, 2003 AND 2002(Unaudited)

NOTE 1 - BASIS OF PRESENTATION:

The Interim financial statements included herein have been prepared without
audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC).
Certain information and footnote disclosures, normally included in the financial statements prepared in
accordance with generally accepted accounting principles, have been condensed or omitted pursuant to SEC
rules and regulations; nevertheless, management of the Company believes that the disclosures herein are
adequate to make the information presented not misleading. The financial statements and notes should be
read in conjunction with the audited financial statements and notes thereto as of December 31, 2002 included
in the Companys Form 10-KSB filed with SEC.

In the opinion of management, all adjustments consisting only of normal
recurring adjustments necessary to present fairly the financial position of the Company with respect to
the interim financial statements have been made. The results of operations for the interim periods are
not necessarily indicative of the results to be expected for the full year.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

Business Activity

Polymer Research Corp. of America ("the Company") is predominately engaged
in the research and development of the applications of chemical grafting for both domestic and international
companies. The Company also produces and sells chemical formulations arising from research activities
and textile printing inks. Revenue from research and production is derived from various customers throughout
the United States and worldwide. .

Concentration of Credit Risk

The Company maintains its cash in several bank accounts at high credit quality
financial institutions. The balances, at times, may exceed federally insured limits. At September 30,
2003, the Company did not exceed FDIC insured limits.

The Financial instrument, which potentially subjects the Company to significant
concentrations of credit risk, is principally trade accounts receivable.

Use of Estimates

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that affect reported amounts
of assets and liabilities at the date of the financial statements and the reported amounts of revenues
and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition

Revenue recognition for all research contracts are recorded as earned in
accordance with the terms and performance requirements of the contracts which is typically upon satisfaction
of the following criteria: first, attainment of specific milestones or benchmarks as specified in license
or development agreements, second, client approval of the successful performance of each specific stage
of the contract, and third, when collection of the resulting revenue is assured. The recognition of revenue
is, to a great extent, subject to managements judgment regarding the satisfactory completion of
the research in accordance with the specifications of the research and development contracts. Amounts
received in advance for all contracts, including lump-sum amounts, are recorded as deferred revenue and
are recognized upon the satisfaction of the aforementioned three criteria. In instances where no prepayments
are received, an accounts receivable is recorded and revenue is recognized if the aforementioned three
criteria are met. In certain instances, research and development contracts provide for refunds of prepayments
if the Company is unsuccessful. However, when the research and development activities are not successful,
the Company

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POLYMER
  RESEARCH CORP. OF AMERICA NOTES TO FINANCIAL STATEMENTS September 30, 2003 AND 2002(Unaudited)



NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued):

usually refunds only a portion of payments previously received as determined
through negotiations. Upon completion of such negotiations the prepayments not refunded are recognized
as income. In consideration for the fees received the clients will be the sole and exclusive owners of
all proprietary rights in the processes, solutions and formulations under the agreements. On completion
of the contract payment terms the Company will assign to the clients all of these proprietary rights,
including the right to obtain a patent protection. Research and development costs are expensed as incurred.

The Company recognizes revenue when all four of the following conditions
exist: persuasive evidence of an arrangement exists; services have been rendered or delivery has occurred;
the price is fixed or determinable; and collectibility is reasonably assured. With minor exception, the
Company ships using FOB shipping point terms and records the revenue upon shipment. Where the terms are
not FOB shipping point, delivery is made within days. Since both the amount of product shipped non-FOB
shipping point and the period of time between shipment and delivery are immaterial, recognizing revenue
upon shipment as opposed to shipment and delivery has not had a material impact on the Companys
financial statements.The recognition of revenue
is, to a great extent, subject to managements judgment regarding the satisfactory completion of
the research in accordance with the specifications of the research and development contracts.

Revenue in the Statement of Operations is reflected net of discounts and
allowances, which are not considered significant to the Companies operations. Although most research and
development contracts provide for payments as milestones are achieved, the Company does negotiate discounts
from time to time typically ranging from 15% to 20% for payment in full at the commencement of the contract.

No discounts or allowances are offered for products produced by the Company.
Further, the Company does not usually experience any returns and, therefore, records returns as they occur.

Deferred Revenue

The Company records as deferred revenue payments received for research contracts
prior to the culmination of the revenue process (see Revenue Recognition).

Inventories

Inventories, which consists of raw materials and finished goods are valued
at the lower of cost or market, with cost determined using the first-in, first-out method and with market
defined as the lower of replacement cost or net realizable value.

Property and Equipment

Property and equipment is stated at cost. The costs of additions and betterments
are capitalized and expenditures for repairs and maintenance are expensed in the period incurred. When
items of property and equipment are sold or retired, the related costs and accumulated depreciation are
removed from the accounts and any gain or loss is included in income.

The Company capitalizes leased equipment where the terms of the lease result
in the transfer to the Company of substantially all of the benefits and risks of ownership of the equipment.



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POLYMER
  RESEARCH CORP. OF AMERICA NOTES TO FINANCIAL STATEMENTS September 30, 2003 AND 2002(Unaudited)

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued):

Depreciation and amortization of property and equipment is provided utilizing
the straight-line method over the estimated useful lives of the respective assets as follows:

|Land improvements                     | 20 years     
|------------------------------------- | -------------
|Transportation equipment              | 3 to 5 years 
|Machinery & Equipment                 | 5 years      
|Furniture & Fixtures                  | 5 to 10 years
|Building and improvements             | 40 years     
|Office equipment under Capital leases | 5 years      
|                                      |              
|Capitalized Mortgage Costs            |              

Costs incurred in obtaining the mortgage used to finance the purchase the
building were capitalized and amortized over the term of the related obligation utilizing the straight-line
method.

Income Taxes

The Company accounts for its income taxes utilizing statement of Financial
Accounting Standards (SFAS) No. 109 Accounting for Income Taxes which requires
that the Company follow the liability method of accounting for income taxes.

The liability method provides that deferred tax assets and liabilities are
recorded based on the difference between the tax bases of assets and liabilities and their carrying amounts
for financial reporting purposes, referred to as temporary differences.

Profit Sharing Plan

The Company maintains a qualified noncontributory profit sharing plan. The
plan provides all eligible employees with a source of retirement income, as well as assistance in other
circumstances such as death or disability. Eligible employees must meet two requirements to become participants;
attainment of age 21 and completion of one year of service with the Company. Employer contributions are
determined by an annual resolution of the Board of Directors. A percentage of the benefits vest after
three years of qualifying service.

Net Earnings Per Share

The financial statements are presented in accordance with Statement of Financial
Accounting Standards No. 128 Earnings Per Share. Basic earnings per share are computed based
upon the weighted average number of common shares outstanding during each year. Diluted earnings per share
incorporate the incremental shares issuable upon the assumed exercise of stock options and warrants. In
accordance with SFAS 128, diluted earnings per share is not presented in years during which the are no
outstanding options or warrants or during periods during which there is a pretax operating loss.

Reclassifications

Certain accounts relating to the prior years have been reclassified to conform
to the current year's presentation. These reclassifications have no effect on previously reported income.



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POLYMER RESEARCH CORP. OF AMERICA NOTES TO FINANCIAL STATEMENTS September 30, 2003 AND 2002(Unaudited)

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued):

Segment Information

The Company operates in two segments. The Company is primarily in the business
of performing research and development on a contract basis. Additionally, the Company also manufactures
and sells chemical products arising from its research activities as well as inks used by textile businesses
for the printing of textiles.

Research and Development Costs

Many of the Companys activities are directed towards the performance
of research on behalf of its clients. All costs relating to the performance of client projects are expensed
as incurred. There are no expenditures for research and development on the Companys own behalf.

Contingencies

Statement of Financial Account Standards (SFAS) No. 5 Accounting
for Contingencies defines a contingency as  an existing condition, situation or set of circumstances
involving uncertainty as to possible gain or loss to an enterprise that will ultimately be resolved when
one or more future events occur or fail to occur. At September 30, 2003, the Company was a defendant
in various lawsuits, which arouse in the ordinary course of business (see Note 4 Contingencies).
The Company recorded a provision, which is deemed adequate for legal expenses and potential unfavorable
rulings in certain of these cases.

NOTE 3 - Provision for Income Taxes

The Company has recorded no provision for income taxes for the first nine
months ended September 30, 2003. The provision (benefit) for income taxes for the nine months ended September
30, 2002 is as follows:

|                       | 2003           |  | 2002        |  
|---------------------- | -------------- |  | ----------- | -
|                       |                |  |             |  
|Federal                | $ - 0 -        |  | (272,500    | )
|State and local        | - 0            |  | 7,200       |  
|                       |                |  |             |  
|Total                  | $ - 0 -        |  | (265,300    | )
|                       | ============== |  | =========== |  
|                       |                |  |             |  
|NOTE 4 - Contingencies |                |  |             |  

At September 30, 2003 the Company was a defendant in various lawsuits relating
to research contracts, which arose in the ordinary course of business. The Company has included a reserve
in current liabilities in an amount that management believes is reasonable for legal expenses and potential
unfavorable rulings or settlements of these cases. The reserve for potential unfavorable rulings, which
reflect managements best estimate of possible losses, at September 30, 2003 and December 31, 2002,
is $ 100,000 and $306,150, respectively. It is managements opinion that the ultimate liability,
if any, which might result from the remainder of such actions would not have a material effect on the
Companys financial condition. As of September 30, 2003 and 2002, the Company had settled certain
of these cases and recorded settlement expenses of $207,319 and $558,500, respectively for each nine month
period then ended.



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POLYMER RESEARCH CORPORATION OF
  AMERICAOTHER INFORMATIONSeptember 30, 2003 AND 2002(Unaudited)

NOTE 5-Long Term Debt

Long term debt consists of: 1) A mortgage payable through July 2017 in equal
monthly installments of $15,044 with interest at 10% per annum through July 2004, thereafter interest
at varying rates adjusted every six months with no increase or decrease by more than 2% on any single
change date. At September 30, 2003 and December 31, 2002 the balance due under the mortgage was $1,346,268
and $1,379,306, respectively. 2) A settled legal action for thirty-six equal monthly payments of $8,333,
which began in February 2003. The present value of this obligation was recorded on the balance sheet based
upon an imputed interest rate of 10%. At September 30, 2003 and December 31, 2002, the balance due under
the terms of the settlement was $200,739 and $258,260, respectively. and

3) A $491,500 note payable through February 2033. Interest will accrue at
the rate of 4% per annum through February 2005. Installment payments in equal monthly installments of
$2,434 including interest commence in March 2005 and continue through February 2033 at which time all
remaining principal and unpaid interest is due. 4) Legal settlements aggregating $100,000 all of which
will be paid in various installments without interest through March of 2004.

NOTE 6  Foreign Sales

As of September 30, 2003 and 2002, Research and Production revenue attributable
to foreign customers was approximately $313,335 and $113,722 representing 14% and 7% of total revenue,
respectively, while revenue derived from customers in the United States amounted to approximately $1,992,552
and $1,518,540 representing 86% and 93% of total revenue, respectively. No individual customers or foreign
countries represented 10% or more of total revenues.

NOTE 7- Due to Shareholders

Throughout 2003 and 2002, two of the Company's principal shareholders and
officers made loans to, and received payments from the Company from time to time. The net outstanding
balance due to the officers at September 30, 2003 and December 31, 2002, respectively, was $279,596 and
$201,808. The largest net balance due to each of the officers at varying times in 2003 was $300,889 to
the Senior Vice President and $150,000 to the Secretary/Treasurer.

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POLYMER
  RESEARCH CORPORATION OF AMERICA OTHER INFORMATIONSeptember 30, 2003 AND 2002(Unaudited)

ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The following discussion and analysis of financial condition and results
of operations should be read in conjunction with the Companys financial statements and the accompanying
notes thereto included herein, and the financial statements included in its 2002 annual report on Form
10-KSB. This Quarterly Report on Form 10-QSB includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of
1934, as amended.

Forward-looking statements involve known and unknown risks, uncertainties
and other factors which could cause the actual results, performance (financial or operating) or achievements
expressed or implied by such forward-looking statements not to occur or be realized. Such forward-looking
statements generally are based upon the Companys best estimates of future results, performance or
achievement, based upon current conditions, and based upon the most recent results of operations. There
can be no assurance that actual results will not differ materially from those expressed or implied in
the forward-looking statements.

Forward-looking statements may be identified by the use of forward-looking
terminology such as may, will, expect, believe, estimate,
anticipate, continue or similar terms, variation of those terms or the negative of those
terms. Potential risks and uncertainties include, among other things, such factors as the ability to attract
and retain qualified personnel, the effect on our financial condition of delays in payments received from
third parties, economic conditions, and other factors which may be set forth in our other filings with
the Securities and Exchange Commission.

The Company undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.

CAPITAL RESOURCES AND LIQUIDITY

Cash and cash equivalents have decreased collectively by $181,380 since
December 31, 2002. The decrease resulted principally from operating losses and repayment of long-term
debt. In addition the Company received loan proceeds of $491,500 from a lending institution in 2003 and
net loan proceeds of $77,788 from officers and shareholders.

The ratio of current assets to current liabilities decreased to 0.97 to
1.0 at September 30, 2003 as compared to 1.32 to 1.0 at December 31, 2002 principally as a result of the
proceeds of a long term loan payable (see below) which provided cash net of operating losses which used
cash. In April of 2003 the Company received a loan from a bank totaling $491,500 bearing interest at 4%
per year. After a period of 25 months with no payment, monthly payments of principal and interest of $2,434
will commence in the 26th month and then be paid monthly for 30 years.

Based on the above, the Companys cash position at September 30, 2003
may not be sufficient to meet its financial needs including repayment of the bank and to cover expenses
during any continued sales downturns in the short term. Cash at September 30, 2003 is equal to approximately
less than one week of overhead expenses. Over both the long and short term, liquidity will be a direct
result of sales and related net earnings as well as bank financing. No significant capital expenditures
are anticipated.

RESULTS OF OPERATIONS

Three months ended September 30, 2003 v. 2002.

Net revenues for the third quarter of 2003 were $654,118 an increase of
$ 467,408 (250%) compared with the third quarter of 2002. Research sales increased $515,545 (692%) in
the third quarter of 2003 compared to 2002 due to a stronger economy resulting in increased demand. Production
sales decreased $48,137 (43%) compared to the third quarter of 2002 due to decreased demand from research
customers.



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POLYMER
  RESEARCH CORPORATION OF AMERICA OTHER INFORMATIONSeptember 30, 2003 AND 2002(Unaudited)

The cost of research revenues as a percentage of research revenues in research
decreased to $242,517 (41%) from $216,321 (291%) in the third quarter of 2003 compared to 2002 as a result
of increased sales with similar payroll levels. The cost of revenues in production as a percentage of
production revenues increased to $87,158 (136%) from $84,333 (75%) in the third quarter of 2003 compared
to 2002 as a result of decreased sales with similar payroll expenses.

Selling, general, and administrative expenses decreased as a percentage
of sales in the third quarter of 2003 as compared to the same quarter of 2002 from 343% to 104% as a result
of significantly increased sales with slightly increased overhead expenses. Loss from operations during
the third quarter decreased from $1,117,641 (599% of sales) in 2002 to a loss of $483,092 (74% of sales)
in 2003 principally as a result of increased sales and decreased settlement expenses.

Nine months ended September 30, 2003 v. 2002.

Net revenues for the first nine months of 2003 were $2,305,887 an increase
of $ 486,915 (27%) compared with the same period in 2002. Research sales increased $521,055 (34%) in the
first nine months of 2003 compared to 2002 due to a stronger economy resulting in increased demand. Product
sales deceased $34,140 (12%) compared to 2002 due to decreased demand from research customers.

The cost of revenues in research decreased slightly to 35% from 41% in the
first nine months of 2003 compared to 2002. The cost of revenues in production increased to 113% from
101% in the first nine months of 2003 compared to 2002 as a result of decreased sales with similar payroll
expenses and raw material costs.

Selling, general, and administrative expenses decreased as a percentage
of sales in the first nine months of 2003 as compared to the same period of 2002 (from 111% to 79.5%)
as a result of increased sales with decreased payroll expenses. Loss from operations during the first
nine months of 2003 decreased from ($1,685,196) (93% of sales) in 2002 to a loss of ($732,784) (32% of
sales) in 2003 as a result of increased sales and decreased expenses and settlement expenses.

CRITICAL ACCOUNTING POLICIES

Our significant accounting policies are described in Note 2 to the financial
statements in Item 1 of the Quarterly Report. Our financial statements are prepared in accordance with
principles generally accepted in the United States of America. The following policies, we believe, are
our most critical accounting policies and are explained below.

Use of Estimates

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that affect reported amounts
of assets and liabilities at the date of the financial statements and the reported amounts of revenues
and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition

Revenue recognition for all research contracts are recorded as earned in
accordance with the terms and performance requirements of the contracts which is typically upon satisfaction
of the following criteria: first, attainment of specific milestones or benchmarks as specified in license
or development agreements, second, client approval of the successful performance of each specific stage
of the contract, and third, when collection of the resulting revenue is assured. The recognition of revenue
is, to a great extent, subject to managements judgment regarding the satisfactory completion of
the research in accordance with the specifications of the research and development contracts. Amounts
received in advance for all contracts, including lump-sum amounts, are recorded as deferred revenue and
are recognized upon the satisfaction of the aforementioned three criteria. In instances where no prepayments
are received, an accounts receivable is recorded and revenue is recognized if the aforementioned three
criteria are met. In certain instances, research and development contracts provide for refunds of prepayments
if the Company is unsuccessful. However, when the research and development activities are not successful,
the Company

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POLYMER
  RESEARCH CORPORATION OF AMERICA OTHER INFORMATIONSeptember 30, 2003 AND 2002(Unaudited)

usually refunds only a portion of payments previously received as determined
through negotiations. Upon completion of such negotiations the prepayments not refunded are recognized
as income. In consideration for the fees received the clients will be the sole and exclusive owners of
all proprietary rights in the processes, solutions and formulations under the agreements. On completion
of the contract payment terms the Company will assign to the clients all of these proprietary rights,
including the right to obtain a patent protection. Research and development costs are expensed as incurred.

The Company recognizes revenue when all four of the following conditions
exist: persuasive evidence of an arrangement exists; services have been rendered or delivery has occurred;
the price is fixed or determinable; and collectibility is reasonably assured. With minor exception, the
Company ships using FOB shipping point terms and records the revenue upon shipment. Where the terms are
not FOB shipping point, delivery is made within days. Since both the amount of product shipped non-FOB
shipping point and the period of time between shipment and delivery are immaterial, recognizing revenue
upon shipment as opposed to shipment and delivery has not had a material impact on the Companys
financial statements.The recognition of revenue
is, to a great extent, subject to managements judgment regarding the satisfactory completion of
the research in accordance with the specifications of the research and development contracts.

Revenue in the Statement of Operations is reflected net of discounts and
allowances, which are not considered significant to the Companies operations. Although most research and
development contracts provide for payments as milestones are achieved, the Company does negotiate discounts
from time to time typically ranging from 15% to 20% for payment in full at the commencement of the contract.

No discounts or allowances are offered for products produced by the Company.
Further, the Company does not usually experience any returns and, therefore, records returns as they occur.

Contingencies

Statement of Financial Account Standards (SFAS) No. 5 Accounting
for Contingencies defines a contingency as an existing condition, situation or set of circumstances
involving uncertainty as to possible gain or loss to an enterprise that will ultimately be resolved when
one or more future events occur or fail to occur. At September 30, 2003 the Company is a defendant
in various lawsuits, which arose in the ordinary course of business (see Note 4 Contingencies in
Notes to Financial Statements). The Company recorded a provision, which is deemed adequate for legal expenses
and potential unfavorable rulings in certain of these cases.

ITEM
  3. CONTROLS AND PROCEDURES

At the end of the period covered by this report, the Company carried out
an evaluation, under the supervision and with the participation of the Company's management, including
the Companys Chief Executive Officer and Chief Financial Officer, of the Company's disclosure controls
and procedures pursuant to Exchange Act Rule 13a-15(e). Based upon that evaluation, the Chief Executive
Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures are
effective. During the third quarter of 2003, there were no changes in the Company's internal control over
financial reporting that have materially affected, or are reasonably likely to materially affect, the
Company's internal control over financial reporting.

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POLYMER RESEARCH CORPORATION OF
  AMERICA OTHER INFORMATIONSeptember 30, 2003 AND 2002(Unaudited)

ITEM 1 - Legal Proceedings:

The Company is a defendant in various lawsuits, which arose, in the ordinary
course of business. As of September 30, 2003 the Company has recorded a reserve which it deems adequate
for legal expenses and any potential unfavorable rulings in certain of these cases. It is managements
opinion that the outcome from such lawsuits will not have a material effect on the Companys financial
position.

ITEM 2 - Changes in Securities
  and Use of Proceeds: 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 and Reports
  on Form 8-K:

(a) Exhibits



(b) Reports on Form 8-K

None

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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.



POLYMER RESEARCH CORP. OF AMERICA

|                  |                   
|----------------- | ------------------
|                  |                   
|November 14, 2003 | /s/  Carl Horowitz
|                  |                   





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EXHIBIT INDEX



Exhibit
  31CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY
  ACT OF 2002Exhibit 32 CERTIFICATION PURSUANT
  TO 18 U.S.C SECTION 1350, AS ADOPTED PURSUANT TOSECTION 906 OF THE SARBANES-OXLEY
  ACT OF 2002

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