U. S. Securities and Exchange Commission
                             Washington, D. C. 20549


                                   FORM 10-QSB


[X]     QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
        ACT OF 1934

        For the quarterly period ended May 31, 2002

[ ]     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
        ACT OF 1934

         For the transition period from                to
                                        --------------    ------------------



                               Commission File No.
                                   -----------
                                    000-13822


                             RESCON TECHNOLOGY CORP.
                      -------------------------------------
                 (Name of Small Business Issuer in its Charter)

          NEVADA                                             83-0210455
         --------                                           ------------

(State or Other Jurisdiction of                     (I.R.S. Employer I.D. No.)
 incorporation or organization)


                         5525 South 900 East, Suite 110
                           Salt Lake City, Utah 84117
                    (Address of Principal Executive Offices)

                    Issuer's Telephone Number: (801)262-8844

                              None, Not Applicable;

                                   -----------
          (Former Name or Former Address, if changed since last Report)


     Indicate  by check mark  whether the  Registrant  (1) has filed all reports
required to be filed by Sections 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.

(1)  Yes  X    No              (2)  Yes  X    No
         ----     ----                  ----         ----
<PAGE>

APPLICABLE  ONLY TO  ISSUERS  INVOLVED  IN  BANKRUPTCY  PROCEEDINGS  DURING  THE
PRECEDING FIVE YEARS

     None, Not Applicable;

     APPLICABLE  ONLY  TO  CORPORATE  ISSUERS  Indicate  the  number  of  shares
outstanding  of each of the  Registrant's  classes  of common  stock,  as of the
latest practicable date:

                                  May 31, 2002

                                    3,861,084

PART I - FINANCIAL INFORMATION

Item 1.Financial Statements.

 The Financial  Statements of the Registrant  required to be filed with this
10-QSB  Quarterly  Report  were  prepared  by  management  and  commence  on the
following page,  together with related Notes. In the opinion of management,  the
Financial  Statements fairly present the financial  condition of the Registrant.


<PAGE>
<TABLE>
<CAPTION>
                             RESCON TECHNOLOGY CORP.
                                 BALANCE SHEETS
                     As of May 31, 2002 and August 31, 2001

                                                            05/31/2002          08/31/2001
                                                          --------------        ----------
                                                           [Unaudited]
                                     ASSETS

<S>                                                      <C>
Assets                                                   $             0        $        0

                                                          --------------        ----------
         Total Assets                                    $             0        $        0
                                                          ==============        ==========

                      LIABILITIES AND STOCKHOLDERS' DEFICIT

Current Liabilities:
     Loans from stockholders                             $         4,797        $    2,692
     Accounts Payable                                                  0                 0
     Income Taxes Payable                                              0                 0
                                                          --------------        ----------
         Total Current Liabilities                                 4,797             2,692

         Total Liabilities                                         4,797             2,692
                                                          --------------        ----------

Stockholders' Deficit:
     Common Stock, $.0001 par value;
         authorized 50,000,000 shares; issued and
         outstanding, 3,861,084 shares                               386               386
     Paid-in Capital                                           4,486,972         4,486,972
     Accumulated Deficit                                      (4,492,155)       (4,490,050)
                                                          --------------        ----------
         Total Stockholders' Deficit                              (4,797)           (2,692)

                                                          --------------        ----------
         Total Liabilities and Stockholders' Deficit     $             0        $        0
                                                          ==============        ==========


</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                             RESCON TECHNOLOGY CORP.
                            STATEMENTS OF OPERATIONS
        For the Three and Nine Month Periods Ended May 31, 2002 and 2001


                                             Three           Three          Nine           Nine
                                             Months         Months         Months          Months       Reactivation (July
                                             Ended           Ended         Ended           Ended        14, 1999) through
                                           05/31/2002     05/31/2001     05/31/2002      05/31/2001         May 31, 2002

                                         --------------  -------------   ----------  -----------------  ---------------------
                                          [Unaudited]     [Unaudited]    [Unaudited]    [Unaudited]
REVENUE


<S>                                    <C>              <C>            <C>          <C>                  <C>
   Income                              $              0 $            0 $          0 $                0   $              0
                                         --------------  -------------   ----------  -----------------  -----------------
NET REVENUE                                           0              0            0                  0                  0

Operating Expenses

      Operating Expenses                            358            228        2,105              2,224             24,546
                                         --------------  -------------   ----------  -----------------  -----------------
Total Operating Expenses                            358            228        2,105              2,224             24,546

                                         --------------  -------------   ----------  -----------------  -----------------
Net Income Before Taxes                 $          (358)$         (228)$     (2,105)$           (2,224)           (24,546)
                                         ==============  =============   ==========  =================  =================

Income/Franchise taxes                                0                           0                  0                  0

Net loss                                           (358)          (228)      (2,105)            (2,224)           (24,546)

Loss Per Share                          $         (0.01)$            0 $      (0.01)$            (0.01)  $          (0.01)
                                         ==============  =============   ==========  =================  =================

Weighted Average Shares Outstanding           3,861,084      3,861,084    3,861,084          3,861,084          3,165,010
                                         ==============  =============   ==========  =================  =================


</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                             RESCON TECHNOLOGY CORP.
                            STATEMENTS OF CASH FLOWS
        For the Three and Nine Month Periods Ended May 31, 2002 and 2001

                                               Three          Three      Nine Months    Nine Months
                                               Months        Months                                     Reactivation (July
                                               Ended          Ended         Ended          Ended        14, 1999) through
                                             05/31/2002    05/31/2001     05/31/2002    05/31/2001           May 31, 2002
                                            ------------  -------------  ------------  -------------    ---------------------
                                            [Unaudited]    [Unaudited]   [Unaudited]    [Unaudited]

Cash Flows Used For Operating
Activities
-----------------------------------------

<S>                                        <C>           <C>            <C>           <C>               <C>
  Net Loss                                 $        (358)$         (228)$      (2,105) $     (2,224)    $           (24,546)
  Adjustments to reconcile net loss to net
cash
    used in operating activities:
    Loss from discountinued operations                 0              0             0              0                       0
    Shares issued for forgiveness of debt              0              0             0              0                  19,749
    Increase/(Decrease) in loans from                358            228         2,105          2,224                   4,797
shareholder
                                            ------------  -------------  ------------  -------------    --------------------
      Net Cash Used For Operating Activities           0              0             0              0                       0
                                            ============  =============  ============  =============    ====================

Cash Flows Provided by Financing                       0              0             0              0                       0
Activities
--------------------------------------------

      Net Increase In Cash                             0              0             0              0                       0

      Beginning Cash Balance                           0              0             0              0                       0

      Ending Cash Balance                $             0$             0$            0$             0                       0
                                            ------------  -------------  ------------  -------------    --------------------


</TABLE>
<PAGE>

NOTE  TO  FINANCIAL   STATEMENTS:   Interim  financial  statements  reflect  all
adjustments  which  are,  in the  opinion  of  management,  necessary  to a fair
statement  of the results for the periods.  The May 31, 2002  balance  sheet has
been derived from the audited  financial  statements.  These  interim  financial
statements  conform with the requirements for interim  financial  statements and
consequently do not include all the disclosures  normally  required by generally
accepted accounting principles.
<PAGE>


Item 2.Management's Discussion and Analysis or Plan of Operation.

Plan of Operation.

     The Company has not engaged in any material operations in the period ending
May 31,  2002,  or since  before  approximately  1994.  The  Company  intends to
continue to seek out the acquisition of assets, property or business that may be
beneficial to the Company and its stockholders.

     The Company's only foreseeable cash requirements  during the next 12 months
will relate to maintaining  the Company in good standing in the State of Nevada,
keeping its reports "current" with the Securities and Exchange Commission or the
payment of expenses  associated  with reviewing or  investigating  any potential
business  venture.  Management does not anticipate that the Company will have to
raise additional funds during the next 12 months,  however, if additional moneys
are needed,  they may be advanced by  management  or principal  stockholders  as
loans to the Company. Because the Company has not identified any such venture as
of the date of this Report,  it is  impossible  to predict the amont of any such
loan.  However,  any such loan will not exceed  $25,000  and will be on terms no
less favorable to the Company than would be available  from a commercial  lender
in an arm's length  transaction.  As of the date of this Report, the Company has
not begun seeking any acquisition.

Results of Operations.

     The Company has had no operations during the quarterly period ended May 31,
2002, or since on or before  approximately  1994.  During the  quarterly  period
covered by this Report, the Company received no revenue and incurred expenses of
$358, stemming from general and administrative expenses.

Liquidity

     At May 31,  2002,  the  Company  had total  current  assets of $0 and total
liabilities of $4,797.

PART II - OTHER INFORMATION

Item 1.Legal Proceedings.

None; not applicable.

Item 2.Changes in Securities.

None; not applicable

Item 3.Defaults Upon Senior  Securities.

None; not applicable.

Item 4.Submission of Matters to a Vote of Security Holders.

None; not applicable

Item 5.Other Information.

     The  Company  is in  disussions  for  the  exchange  of  shares  of  Rescon
Technology Corp., for all of the issued and outstanding shares of GTI Securities
Corp., ("GTI Securities") a Nevada corporation.

     As of the date of this  Report,  the  Company  has not  issued any stock or
granted  any  options or  warrants  to GTI  Securities,  and the Company has not
entered into a Plan of  Reorganization  or any other binding  agreement with GTI
Securities.  If the Company does enter into any such  agreement the Company will
file a Form 8-K disclosing the terms of the agreement.

Item 6.Exhibits and Reports on Form 8-K.

None; not applicable

(b)Reports on Form 8-K.

None; Not Applicable.


<PAGE>

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.

                            RESCON TECHNOLOGY CORP.



Date:06/25/02               /S/VICTORIA JENSON
                            Victoria Jenson, Vice President and Director