Securities and Exchange Commission
                            Washington, DC 20549


                                FORM 10-QSB
               Quarterly Report Under Section 13 or 15(d) of
                    the Securities Exchange Act of 1934


     For the Quarter Ended                      Commission File Number
       March 31, 2003                                   0-23812


                     ADVANCED RECYCLING SCIENCES, INC.
                     ---------------------------------
           (Exact name of registrant as specified in its charter)


                                   NEVADA
                                  -------
       (State or other jurisdiction of incorporation or organization)


                                 95-4255962
                                -----------
                    (I.R.S. Employer Identification No.)


              University Tower, 4199 Campus Drive, Suite 550,
              -----------------------------------------------
                              Irvine, CA 92612
                              ----------------
                  (Address of principal executive offices)


                               (949) 509-6503
                               --------------
            (Registrant's telephone number, including area code)


Securities registered pursuant to Section 12 (b) of the Act:

                                    None
                                    ----

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.

            X  Yes        No
          ----       ----

State the number of shares outstanding of each of the registrants classes
of common equity, as of the latest practicable date.

        Common stock, par value $.001; 24,544,366 shares outstanding
                             as of May 20, 2003

                                                                       Page
                                                                       ----

PART I.  FINANCIAL INFORMATION

     Item 1.  Consolidated Financial Statements

          Consolidated Balance Sheet as of March 31, 2003 and
          December 31, 2002. . . . . . . . . . . . . . . . . . . . . . . .3

          Consolidated Statement of Operations for the three months
          ended March 31, 2003 and 2002  . . . . . . . . . . . . . . . . .5

          Consolidated Statement of Stockholder's Equity
          for the three months ended March 31, 2003. . . . . . . . . . . .6

          Statement of Cash Flows for the three months ended
          March 31, 2003 and 2002. . . . . . . . . . . . . . . . . . . . .7

          Notes to Financial Statements at March 31, 2003. . . . . . . . .9

     Item 2.  Management Discussion and Analysis of Financial
              Condition and Results of Operations. . . . . . . . . . . . 10

     Item 3.  Controls and Procedures  . . . . . . . . . . . . . . . . . 13


PART II.  OTHER INFORMATION

     Item 1.  Legal Proceedings. . . . . . . . . . . . . . . . . . . . . 13

     Item 2.  Changes in Securities. . . . . . . . . . . . . . . . . . . 13

     Item 6.  Exhibits and Reports on Form 8-K . . . . . . . . . . . . . 14

                       PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

             Advanced Recycling Sciences, Inc. and Subsidiaries
                               Balance Sheet
                          March 31, 2003 and 2002
                                (Unaudited)
<Table>
<Caption>

                                          March 31,     March 31,   December 31,
                                            2003          2002          2002
                                        ------------  ------------  ------------
                                         (Unaudited)   (Unaudited)
<S>                                     <C>          <C>           <C>
                                     ASSETS

Current Assets
--------------
 Cash                                   $    52,494  $      7,308  $     24,468
 Accounts Receivable net of Allowance        75,000             -        21,520
 Deposit                                      2,950        14,281         2,950
 Prepaid Expenses                                 -         6,576         2,785
 Note Receivable                                  -        11,430
                                        ------------  ------------  ------------
  Total Current Assets                      130,444        39,595        51,723

Property and Equipment
----------------------
 Furniture and Fixtures                      36,499        38,550        38,711
 Equipment                                  793,427     1,504,870     1,468,973
 Land                                       655,845       617,840       655,845
 Web Sites                                   27,302        25,728        27,123
                                        ------------  ------------  ------------
  Total Property and Equipment            1,513,073     2,186,988     2,190,652
  Less Accumulated Depreciation            (585,369)     (835,390)   (1,024,762)
                                        ------------  ------------  ------------
  Net Property and Equipment                927,704     1,351,598     1,165,890
                                        ------------  ------------  ------------
Other Assets
------------
 Construction in Progress                   507,536       718,938       507,536
 License Rights                             232,156       296,912       248,348
 Patent Rights                            4,146,261     4,065,000     4,146,261
                                        ------------  ------------  ------------
  Total Other Assets                      4,885,953     5,080,850     4,902,145
                                        ------------  ------------  ------------
  TOTAL ASSETS                          $ 5,944,101  $  6,472,043  $  6,119,758
                                        ============  ============  ============
</Table>

                                 Continued
                                     3

             Advanced Recycling Sciences, Inc. and Subsidiaries
                               Balance Sheet
                          March 31, 2003 and 2002
                                (Unaudited)
<Table>
<Caption>

                                          March 31,      March 31,  December 31,
                                               2003           2002         2002
                                        ------------  ------------  ------------
                                         (Unaudited)   (Unaudited)
<S>                                     <C>          <C>           <C>
                      LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
-------------------

 Accrued Expenses                       $   181,206  $     80,481  $    185,654
 Accounts Payable                           803,250       610,099       834,204
 Notes Payable (Current Portion)             48,173       135,729        48,173
 Notes Payable - Related Party              338,694         7,909       196,694
 Payroll Taxes Payable                            -         3,545             -
 Interest on Notes Payable                   13,844             -        13,844
                                        ------------  ------------  ------------
  Total Current Liabilities               1,385,167       837,763     1,278,569

Long Term Liabilities
---------------------
 Capital Lease                                    -        29,655             -
 Note Payable                                     -        78,721             -
                                        ------------  ------------  ------------
  Total Long Term Liabilities                     -       108,376             -

Minority Interest                            35,767        43,314        38,057
                                        ------------  ------------  ------------
Stockholders' Equity
 Preferred Stock 5,000,000 Shares
  Authorized Par Value of $0.001 Per
  Share; Zero Shares Issued and
  Outstanding                                     -             -             -
 Common Stock 50,000,000 Shares
  Authorized; 24,531,799; 18,036,913
  & 23,798,579 Shares Issued and
  Outstanding Respectively                   24,532        18,037        23,799
 Additional Paid In Capital              15,315,402    14,049,323    15,231,076
 Paid In Capital Stock Options               25,543        25,543        25,543
 Accumulated Deficit                    (10,738,747)   (8,523,242)  (10,373,723)
 Accumulated Other Comprehensive
  Income                                   (103,563)      (87,071)     (103,563)
                                        ------------  ------------  ------------
  Total Stockholders' Equity              4,523,167     5,482,590     4,803,132
                                        ------------  ------------  ------------
  TOTAL LIABILITIES &
  STOCKHOLDERS' EQUITY                  $ 5,944,101  $  6,472,043  $  6,119,758
                                        ============  ============  ============

</Table>

               See accompanying notes to financial statements
                                     4
             Advanced Recycling Sciences, Inc. and Subsidiaries
                          Statement of Operations
             For the Three Months Ended March 31, 2003 and 2002
<Table>
<Caption>
                                        Three Months  Three Months Twelve Months
                                            Ended         Ended         Ended
                                          March 31,      March 31,  December 31,
                                            2003           2002         2002
                                        ------------  ------------  ------------
                                         (Unaudited)   (Unaudited)
<S>                                     <C>          <C>           <C>
Expenses
--------
 Depreciation                           $    69,873  $     75,841  $    298,510
 Amortization                                16,189        16,189        64,756
 Travel                                      11,630        20,565        61,406
 Professional Fees                            9,081        16,988        86,269
 Office                                      11,055        30,041        30,884
 Rent & Utilities                            17,882        26,061       116,413
 Administrative Expenses                     62,511        89,192       303,623
 Consultant Fees                            114,200       167,360       555,580
 Research and Development                    24,715         6,285        88,810
 Allowance for Doubtful Accounts             50,000             -             -
                                        ------------  ------------  ------------
  Total Expenses                            387,136       448,522     1,606,251

  Net Income (Loss) from Operations        (387,136)     (448,522)   (1,606,251)

Other Income (Expenses)
-----------------------
 Interest Income                                  -             -            52
 Interest Expense                            (7,338)            -       (82,700)
 Other Income                                     -             -           250
 Gain (Loss) on Sale of Assets               31,740          (434)        3,296
                                        ------------  ------------  ------------
  Total Other Income (Expenses)              24,402          (434)      (79,102)

Minority Interest                             2,290         1,424         6,681
                                        ------------  ------------  ------------
  Net Income (Loss)                     $  (365,024) $   (447,532) $ (1,692,034)
                                        ============  ============  ============

  Net Income (Loss) Per Share           $     (0.02) $      (0.03) $      (0.08)

Weighted Average Shares Outstanding      24,165,079    17,606,913    20,353,544

</Table>

              See accompanying notes to financial statements.
                                     5

                     Advanced Recycling Sciences, Inc.
                      Statement of Stockholders' Equity
                 From January 1, 2001 to December 31, 2002
<Table>
<Caption>
                                                               Compre-
                              Common Stock        Paid-in      hensive    Accumulated
                           Stock      Amount      Capital      Income        Deficit
                      ---------------------------------------------------------------
<S>                   <C>          <C>        <C>           <C>        <C>
Balance,
December 31, 2001     17,176,913   $ 17,177 $  14,255,369   $ (87,071) $  (8,681,689)

Shares Issued for Cash
at prices from $.478
to $.310 per Share       457,833         458      165,791

Shares Issued for Cash
at prices from $.285
to $.200 per Share     1,481,300       1,481      344,595

Shares Issued for Cash
at prices from $.190
to $.100 per Share     2,408,040       2,408      311,260

Shares Issued for Cash
at prices from $.099
to $.075 per Share       927,300         927       80,676

Shares Issued for
Exercise of 1987 Stock
Option at $.060 per
Share                    266,670         267       15,733

Shares Issued for Debt
at $.094 per Share       650,000         650       60,600

Shares Issued for
Services at $.05 per
Share                    430,523         431       22,595

Foreign Currency
Translation                                                   (16,492)

Net Loss for the
Year Ended
December 31, 2002                                                         (1,692,034)
                      ---------------------------------------------------------------
Balance,
December 31, 2002     23,798,579      23,799   15,256,619    (103,563)   (10,373,723)

Shares issued for Cash
at Prices from $.09 to
$.05 Per Share           633,220         633       47,504

Shares Issued for Debt
at $.11379 Per Share     100,000         100       11,279

Net Loss for the
Three Months Ended
March 31, 2003                                                              (365,024)
                      ---------------------------------------------------------------
Balance,
March 31, 2003        24,531,799   $  24,532  $15,315,402   $(103,563) $ (10,738,747)
                      ===============================================================
</Table>
             See accompanying notes to financial statements
                                     6

             Advanced Recycling Sciences, Inc. and Subsidiaries
                          Statement of Cash Flows
             For the Three Months Ended March 31, 2003 and 2002
<Table>
<Caption>
                                             Three Months  Three Months Twelve Months
                                                 Ended         Ended         Ended
                                               March 31,      March 31,  December 31,
                                                  2003           2002         2002
                                             ------------  ------------  ------------
<S>                                          <C>          <C>           <C>
                                              (Unaudited)   (Unaudited)
Cash Flows from Operations
--------------------------
 Net Profit (Loss)                           $  (365,024) $   (447,532) $ (1,692,034)
 Adjustment to Reconcile Net Profit or
 (Loss) to Net Cash

  Amortization                                    86,062        92,030       363,266
  Gain on Sale of Fixed Assets                   (31,740)         (423)       (3,296)
  Non Cash Transaction                            50,000             -        61,250
  Stock Issued for Services                            -             -        23,026

 Changes in Operating Assets & Liabilities
  (Increase) in Accounts Receivable              (53,480)            -       (21,520)
  Decrease in Notes Receivable                         -             -        11,430
  Decrease in Prepaid Expenses                     2,785             -         3,791
  (Increase) in Deposits                               -             -        (2,950)
  Increase (Decrease) in Accrued Expenses         (4,448)       18,920       124,093
  Increase (Decrease) in Accounts Payable        (30,954)       83,976       308,948
  Increase in Interest on Notes Payable                -             -         5,935
  Increase in Payroll Taxes Payable                    -         3,545             -
                                             ------------  ------------  ------------
  Net Cash Provided (Used) by
  Operating Activities                          (346,799)     (249,484)     (818,061)

Cash Flows from Investing Activities
------------------------------------
 Land Preparation and Costs                            -             -       (38,005)
 Purchase of WebSite                                 179             -        (1,395)
 Proceeds from Sale of Furniture
   and Fixtures                                    2,212             -          (161)
 Proceeds from Sale of Equipment                 159,044        30,513        47,393
 Increase Cost from Patent Rights                      -             -       (81,274)
                                             ------------  ------------  ------------
  Net Cash Provided (Used) by
  Investing Activities                           161,435        30,513       (73,442)



</Table>

                                 Continued
                                     7
             Advanced Recycling Sciences, Inc. and Subsidiaries
                          Statement of Cash Flows
             For the Three Months Ended March 31, 2003 and 2002
<Table>
<Caption>
                                             Three Months  Three Months Twelve Months
                                                 Ended         Ended         Ended
                                               March 31,      March 31,  December 31,
                                                  2003           2002         2002
                                             ------------  ------------  ------------
<S>                                          <C>          <C>           <C>

Cash Flows from Financing Activities
------------------------------------
 Proceeds from Issuance of Common Stock           73,680       242,771       915,473
 Payment of Long Term Debt                             -       (18,853)            -
 Proceeds from Notes Payable                     142,000             -        11,564
 Increase (Decrease) in Capital Lease                  -             -       (29,655)
 Proceeds from Stock Option Exercise                   -             -         8,123
 Increase (Decrease) in Minority Interest         (2,290)       (1,424)        6,681
                                             ------------  ------------  ------------
  Net Cash Provided (Used) by
  Financing Activities                           213,390       222,494       912,186
                                             ------------  ------------  ------------
  Increase (Decrease) in Cash                     28,026         3,523        20,683

  Cash at Beginning of Period                     24,468         3,785         3,785
                                             ------------  ------------  ------------
  Cash at End of Period                      $    52,494  $      7,308  $     24,468
                                             ============  ============  ============
Disclosures from Operating Activities
-------------------------------------
 Interest                                    $     7,338  $          -  $     82,700
 Taxes                                                 -             -             -

</Table>

               See accompanying notes to financial statements
                                     8

             Advanced Recycling Sciences, Inc. and Subsidiaries
                       Notes to Financial Statements
                               March 31, 2003


NOTE 1 - Corporate History
--------------------------
The Company was organized on December 2, 1968, under the laws of the state
of California as Acquatic Systems, Inc.  On June 27, 1989, the Company
merged with Country Maid, Inc., a Nevada Corporation, the Corporate
domicile was changed to the state of Nevada.  On September 18, 1992, the
name of the Company was changed to The Quantum Group, Inc.  On March 26,
2001, the Company filed an Amendment to the Articles of Incorporation
changing it's name to Advanced Recycling Sciences, Inc.  The Company is
registered and qualified to do business in the state of California.

NOTE 2 - Significant Accounting Policies
----------------------------------------
A.   The Company uses the accrual method of accounting.
B.   Revenues and directly related expenses are recognized in the period
     when
     the goods are shipped to the customer.
C.   The Company considers all short term, highly liquid investments that
     are
     readily convertible, within three months, to known amounts as cash
     equivalents.  The Company currently has no cash equivalents.
D.   Primary Earnings Per Share amounts are based on the weighted average
     number of shares outstanding at the dates of the financial statements.
     Fully Diluted Earnings Per Shares shall be shown on stock options and
     other convertible issues that may be exercised within ten years of the
     financial statement dates.
E.   The inventory is stated at the lower of cost or market.  The inventory
     is a single recycling system that the Company intends to sell as a
     system.  The Company is currently pursuing several prospects to sell
     the system.
F.   Consolidation Policies:    The accompanying consolidated financial
     statements include the accounts of the company and its majority -
     owned subsidiaries.  Intercompany transactions and balances have been
     eliminated in consolidation.
G.   Foreign Currency Translation / Remeasurement Policy:   Assets and
     liabilities that occur in foreign countries are recorded at historical
     cost and translated at exchange rates in effect at the end of the
     year.  Income Statement accounts are translated at the average
     exchange rates for the year. Translation gains and losses shall be
     recorded as a separate line item in the equity section of the
     financial statements.
H.   Depreciation:   The cost of property and equipment is depreciated over
     the estimated useful lives of the related assets. The cost of
     leasehold improvements is depreciated (amortized) over the lesser of
     the length of the related assets or the estimated lives of the assets.
     Depreciation is computed on the straight line method for reporting
     purposes and for tax purposes.
I.   Issuance of Subsidiary's Stock: The Company has elected to account for
     shares issued by its subsidiary as an equity transaction.
J.   Use of Estimates: The preparation of financial statements in
     conformity
     with generally accepted accounting principles requires management to
     make estimates and assumptions that affect the reported amounts of
     assets and liabilities and disclosure of contingent assets and
     liabilities at the date of the financial statements and reported
     amounts of revenues and expenses during the reporting period.  Actual
     results could differ from those estimates.
                                 Continued
                                     9

                     Advanced Recycling Sciences, Inc.
                       Notes to Financial Statements
                               March 31, 2003

NOTE 2 - Significant Accounting Policies -continued-
----------------------------------------

K.   As permitted by SFAS #123 "Accounting for Stock-Based Compensation,"
     the Company has elected to account for the stock option plans as a
     compensation cost when options were issued at equal to or more than
     fair market value.

NOTE 3 - Interim Financial Statements
-------------------------------------

The financial statements for the three months ended March 31, 2003 and 2002
were prepared from the books and records of the Company.  Management
believes that all adjustments have been made to the financial statements to
make a fair presentation of the financial condition of the company as of
March 31, 2003 and 2002.  The results of the three months are not
indicative of a full year of operation for the Company.

Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting
principles have been condensed or omitted.  It is suggested that these
financial statements be read in conjunction with the financial statements
and notes thereto included in the Company's December 31, 2001 audited
financial statements.  The results of operations for the nine month periods
ended March 31, 2003 and 2002 are not necessarily indicative of the
operating results for the full year.

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL STATEMENTS

     This Form 10-QSB contains certain forward-looking statements.  For
this purpose any statements contained in this Form 10-QSB that are not
statements of historical fact may be deemed to be forward-looking
statements.  Without limiting the foregoing, words such as "may," "will,"
"expect," "believe," "anticipate," "estimate" or "continue" or comparable
terminology are intended to identify forward-looking statements.  These
statements by their nature involve substantial risks and uncertainties, and
actual results may differ materially depending on a variety of factors.

General
-------
     Advanced Recycling Sciences, Inc., ("ARS(TM)" or the "Company") is in
the business of developing innovative products and technologies in the
environmental and recycling industries, with specific emphasis on
rubberized asphalt paving, scrap tire and industrial rubber recycling.  The
principal offices of the Company are located at University Tower, 4199
Campus Drive, Suite 550, Irvine California 92612.  The Company was
organized as a corporation in 1968, under the laws of the State of
California.  In 1988 the Company changed its domicile from California to
the State of Nevada and has operated as a Nevada corporation since that
time.  In March 2001, the Company amended its articles of incorporation to
change its name from The Quantum Group, Inc., to Advanced Recycling
Sciences, Inc.

     Since March 2001, the Company has been pursuing a business development
strategy incorporating technology acquisition, innovation and development,
including rubberized asphalt paving, the patented Tires2Oil(TM) process, a
patented de-icing system for road surfaces and international sales of tire
shredding, granulating and aftermarket product manufacturing equipment.

                                     10

Liquidity and Capital Resources
-------------------------------
     As of March 31, 2003, the Company had cash on hand of $52,494.  The
Company raised cash through short term borrowings and the continuation of
the 2002 Regulation S offering. The Company has received $48,137 during the
first quarter of 2003, as continuing receipts from the Regulation S
offering. The Company borrowed $95,000 from a shareholder. The Company does
not anticipate further receipts from the Regulation S offering.

     A depressed stock market in general and a declining market price for
the Advanced Recycling Sciences, Inc. shares in particular led to
disappointing results with the 2002 Regulation S offering. The results
achieved in the beginning of 2003 have caused management to believe that
the 2003 Regulation S offering would generate significantly less than the
2002 offering.  With the depressed price and resultant dilution,
management, with the agreement of the underwriter, has suspended the
offering. Banking conditions in Germany have also added to the Company's
inability to secure the financing required to begin construction of the
Poseidon plant.  The Company's Advanced Surfacing Technology, Inc., ("AST")
subsidiary sponsored crumb rubber modified asphalt tests conducted in
August 2002 in Germany were very successful. Management believes that the
use of crumb rubber in asphalt will generate substantial demand for crumb
rubber and ultimately assist in the ability to finance the Poseidon plant.
This will, however, take time.

     The Company believes there are significant opportunities in the
rubberized asphalt paving industry.  The Company, through AST intends to
focus most of its efforts in the upcoming year to exploiting the growing
rubberized asphalt paving, particularly in Europe.  The Company has entered
into an exclusive European distribution agreement with a manufacturer to
sell specialized mobile equipment for blending rubber and asphalt at hot
mix plants.  The Company will also oversee technology transfer programs to
international clients, on-site project management and seminars to educate
both public and private sector engineers about the Company's products and
services.  The Company also intends to establish and operate its own
rubberized asphalt paving business in Germany and later in other parts of
Europe.  The company has begun private placement discussions with firms
associated with the industry in Germany to raise the funds to support this
effort.

     At this point in time, the company has no ongoing revenue and its
ability to raise sufficient capital to meet its cash flow needs is in
question. If capital is not raised the Company will not be able to remain
in business for the next twelve months.

     The Company's financial statements are prepared using generally
accepted accounting principles in the United States of America, applicable
to a going concern, which contemplates the realization of assets and
liquidation of liabilities in the normal course of business. Currently, the
Company does not have sufficient cash or other liquid assets, nor does it
have an established source of revenues to cover its operating costs and to
allow it to continue in business as a going concern, However, the Company
is taking the following approach to meet its liquidity requirements. The
company has an inventory of tire recycling processing and product
manufacturing equipment in storage following the closure of the San Diego
facility. This equipment was going to be used in the Poseidon project in
Germany. The Company is now in the process of selling portions of that
inventory to generate cash. The Company does not believe that the cash so
generated will be sufficient to meet its overall on going needs. The
Company is endeavoring to dispose of these assets for the highest valuation
it can negotiate. Should the Company be unable to continue in operation,
the forced liquidation values for these assets will be less than might be

                                     11

obtained over time. In some cases, the Company has received advances in
anticipation of the asset sales. These short-term borrowings will be repaid
from the proceeds of the asset sale or the possible sale of a subsidiary.
The Company has received an offer to sell its Tires2Oil, Inc., subsidiary.
The Company believes that the offered price is sufficient to allow the
Company to clear its existing obligations and remain in operation while it
develops the AST European business to a point of self-sufficiency.
Although the Company is negotiating this transaction in good faith, no
assurance can be given that the transaction will be successfully concluded
and the anticipated cash will be received.

Results of Operations
---------------------

Comparison of the three months ended March 31, 2003 and the three months
ended March 31, 2002.
-------------------------------------------------------------------------
     The Company generated a loss of $365,024 in the quarter ended March
31, 2003, compared to a loss of $447,532 for the quarter ended March 31,
2002. This $82,508  (18.4%) reduction in loss is a result of a reduction in
all but two expense categories. The Company had no revenue for the three
months ended March 31, of either 2003 or 2002.

     Net cash used in operations was $346,799 during the three months ended
March 31, 2003 compared to $249,484 in the three months ended March 31,
2002. The primary use of cash was the funding of the net operating loss of
$365,0240 for the quarter ended March 31, 2003. This was also the case in
2002, where the operating loss was $447,532 during the first quarter.
During the three months ended March 31, 2003, Accounts Payable decreased by
$30,954 and Accrued Expenses decreased $4,448. During the first quarter
2002, Accounts Payable increased by $83,976, Accrued Expenses increased
$19,920 and Payroll Taxes Payable increased $ 3,545.  Officers and
Directors of the Company continued to defer salary payments during 2003.
The Company recorded the unpaid liability as Accounts Payable.

     Depreciation Expense of $69,873 for the three months ended March 31,
2003, is a slight reduction from the 2002 expense of $75,841.  This $5,968
reduction is due to the disposal of a equipment previously acquired for the
QCAL operation and now being sold to generate cash.

     Travel expenses of $11,630 for the quarter ended March 31, 2003, are a
reduction from the $20,565 expense for the quarter ended March 31, 2002 but
is primarily a timing difference with more extensive travel anticipated in
second and third quarters.

     Professional fees decreased from $16,988 for the three months ended
March 31, 2002, to $9,081 for the comparable 2003 quarter. Legal expenses
in the first quarter of 2003 were also low due to timing differences and
are expected to be higher in the second and third quarters

     Office expense of $11,055 for the three months ended March 31, 2003,
is a $18,986 decrease from the 2002 expenses of $30,041 for the same
quarter. This decrease is primarily due to reductions in staff and overhead
made during the third and fourth quarters of 2002. The 2002 expenses
included translation expense for documentation related to the Poseidon
project and the CISAP settlement which did not recur in 2003

     Administrative expenses of $62,511 for the three months ended March
31, 2003, are $26,681 lower than the $89,192 for the comparable 2002
period.  This decrease is also primarily due to reductions in staff and
overhead made during the third and fourth quarters of 2002.

                                     12

     Consulting expenses of $114,200 for the three months ended March 31,
2003 decreased by $53,160 from the three months ended March 31, 2002
expense of $167,360. This decrease is due to less use of consultants in
Germany and the switch to part time status for one U.S. consultant. Further
reductions are anticipated as the year progresses.

     Research and Development expenses of $24,715 in the three months ended
March 31, 2003 exceed the $6,285 reported in the comparable 2002 quarter.
This is primarily due to the recording of expenses which were recorded as
salaries in the first quarter of 2002 and subsequently re categorized as
R&D.

     The Company sold a major piece of equipment from its inventory of used
equipment during the first quarter of 2003. The net effect of the
disposition is recorded as a gain  from sales of equipment of $31,740.
Under the terms of the sale, the Company recorded an Accounts Receivable of
$125,000. Due to a dispute, which has arisen with the buyer, the C ompany
anticipates that it may have to incur additional expenses to collect the
balance or may have to compromise a portion of the balance. Accordingly,
the Company has established a reserve against the balance and recorded an
expense of $50,000 as Allowance for Doubtful Accounts. No comparable
transaction occurred in the comparable 2002 quarter.


Item 3.  Controls and Procedures

  (a)     Evaluation of Disclosure Controls and Procedures.
          -------------------------------------------------
          The Company's Chief Executive Officer and Chief Financial Officer
have conducted an evaluation of the Company's disclosure controls and
procedures as of a date (the "Evaluation Date") within 90 days before the
filing of this quarterly report.  Based on their evaluation, the Company's
Chief Executive Officer and Chief Financial Officer have concluded that the
Company's disclosure controls and procedures are effective to ensure that
information required to be disclosed by the Company in reports that it
files or submits under the Securities Exchange Act of 1934 is recorded,
processed, summarized and reported within the time periods specified in the
applicable Securities and Exchange Commission rules and forms.

  (b)     Changes in Internal Controls and Procedures.
          --------------------------------------------
          Subsequent to the Evaluation Date, there were no significant
changes in the Company's internal controls or in other factors that could
significantly affect these controls, nor were any corrective actions
required with regard to significant deficiencies and material weaknesses.

                        PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

  There were no significant changes in the Company's litigation with
Veplas Manufacturing LTD., FDC Engineering Switzerland or Pauli & Partners
during the quarter ended March 31, 2003.

Item 2.  Changes in Securities

  No instruments defining the rights of the holders of any class of
registered securities have been materially modified, limited or qualified.

  The following securities, which are not registered under the Securities
Act of 1933, were issued by the Company during the quarter ended March 31,
2003.

                                     13

  During the quarter ended March 31, 2003, the Company sold 633,220
shares of its common stock to non United States persons in Asia and Europe.
The Company received $48,137 from the sale of the shares.  These shares
were sold pursuant to Regulation S promulgated by the Securities and
Exchange Commission under the Securities Act of 1933.  The Company did not
offer the securities to any person in the United States, any identifiable
groups of U.S. citizens abroad, or to any U.S. Person as that term is
defined in Regulation S.  At the time the buy orders were originated, the
Company reasonably believed the Buyers were outside of the United States
and were not U.S. Persons.  The Company reasonably believed that the
transaction had not been pre-arranged with a buyer in the United States.
The Company has not nor will engage in any "Directed Selling Efforts" and
reasonably believes the Buyers have not nor will engage in any "Directed
Selling Efforts."  The Company reasonably believed the Buyers purchased the
securities for their own accounts and for investment purposes and not with
the view towards distribution or for the account of a U.S. Person.

  In February 2003, the Company issued 100,000 restricted common shares
to retire debt in the amount of approximately $11,400 owed to Industrial
Research Bureau.  The shares were issued without registration under the
Securities Act of 1933 in reliance on an exemption from registration
provided by Section 4(2) of the Securities Act, and from similar applicable
state securities laws, rules and regulations exempting the offer and sale
of these securities by available state exemptions.  No general solicitation
was made in connection with the offer or sale of these securities.


Item 6.  Exhibits and Reports on Form 8-K

      Reports on Form 8-K

      (A)      No reports on Form 8-K were filed or required to be filed during
the quarter ended March 31, 2003.

      (B)      Exhibits.  The following exhibits are included as part of this
report:

               Exhibit 99.1   Certification Pursuant to Section 906 of the
                              Sarbanes-Oxley Act of 2002.














                                     14


                                 SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this to be signed on its behalf by the
undersigned thereunto duly authorized.

                                   Advanced Recycling Sciences, Inc.


May 20, 2003                  /S/ Ehrenfried Liebich
                                   -------------------------------------
                                   Ehrenfried Liebich,
                                   Principal Executive Officer



May 20, 2003                  /S/ John F. Pope
                                   -------------------------------------
                                   John F. Pope,
                                   Principal Financial Officer

















                                     15

               CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER
         Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

      I, Ehrenfried Liebich certify that:

      (1)      I have reviewed this quarterly report on Form 10-QSB of Advanced
Recycling Sciences, Inc., (the "Company");

      (2)      Based on my knowledge, this quarterly report does not contain any
untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period
covered by this quarterly report;

      (3)      Based on my knowledge, the financial statements, and other
financial information included in this quarterly report, fairly present in
all material respects the financial condition, results of operations and
cash flows of the Company as of, and for, the periods presented in this
quarterly report;

      (4)      The Company's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined
in Exchange Act Rules 13a-14 and 15d-14) for the Company and have:

          (a)  designed such disclosure controls and procedures to ensure
          that material information relating to the Company is made known
          to us by others within those entities, particularly during the
          period in which this quarterly report is being prepared;
          (b)  evaluated the effectiveness of the Company's disclosure
          controls and procedures as of a date within 90 days prior to the
          filing date of this quarterly report (the "Evaluation Date"); and
          (c)  presented in this quarterly report our conclusions about the
          effectiveness of the disclosure controls and procedures based on
          our evaluation as of the Evaluation Date;

      (5)      The Company's other certifying officer and I have disclosed,
based on our most recent evaluation, to the Company's auditors and the
audit committee of the Company's board of directors (or persons fulfilling
the equivalent function):

          (a)  all significant deficiencies in the design or operation of
          internal controls which could adversely affect the Company's
          ability to record, process, summarize and report financial data
          and have identified for the Company's auditors any material
          weaknesses in internal controls; and
          (b)  any fraud, whether or not material, that involves management
          or other employees who have a significant role in the Company's
          internal controls; and

      (6)      The Company's other certifying officer and I have indicated in
this quarterly report whether or not there were significant changes in
internal controls or in other factors that could significantly affect
internal controls subsequent to the date of our most recent evaluation,
including any corrective actions with regard to significant deficiencies
and material weaknesses.


Date: May 20, 2003            By: /S/ Ehrenfried Liebich
                                   --------------------------------------------
                                   Ehrenfried Liebich,
                                   Principal Executive Officer

                                     16


               CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER
         Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

      I, John F. Pope, certify that:

      (1)      I have reviewed this quarterly report on Form 10-QSB of Advanced
Recycling Sciences, Inc., (the "Company");

      (2)      Based on my knowledge, this quarterly report does not contain any
untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period
covered by this quarterly report;

      (3)      Based on my knowledge, the financial statements, and other
financial information included in this quarterly report, fairly present in
all material respects the financial condition, results of operations and
cash flows of the Company as of, and for, the periods presented in this
quarterly report;

      (4)      The Company's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined
in Exchange Act Rules 13a-14 and 15d-14) for the Company and have:

          (a)  designed such disclosure controls and procedures to ensure
          that material information relating to the Company is made known
          to us by others within those entities, particularly during the
          period in which this quarterly report is being prepared;
          (b)  evaluated the effectiveness of the Company's disclosure
          controls and procedures as of a date within 90 days prior to the
          filing date of this quarterly report (the "Evaluation Date"); and
          (c)  presented in this quarterly report our conclusions about the
          effectiveness of the disclosure controls and procedures based on
          our evaluation as of the Evaluation Date;

      (5)      The Company's other certifying officer and I have disclosed,
based on our most recent evaluation, to the Company's auditors and the
audit committee of the Company's board of directors (or persons fulfilling
the equivalent function):

          (a)  all significant deficiencies in the design or operation of
          internal controls which could adversely affect the Company's
          ability to record, process, summarize and report financial data
          and have identified for the Company's auditors any material
          weaknesses in internal controls; and
          (b)  any fraud, whether or not material, that involves management
          or other employees who have a significant role in the Company's
          internal controls; and

      (6)      The Company's other certifying officer and I have indicated in
this quarterly report whether or not there were significant changes in
internal controls or in other factors that could significantly affect
internal controls subsequent to the date of our most recent evaluation,
including any corrective actions with regard to significant deficiencies
and material weaknesses.


Date: May 20, 2003            By: /S/ John F. Pope
                                   ---------------------------------------
                                   John F. Pope, Principal Financial Officer

                                     17