<PAGE>

                   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  September  30,  2002.


                      Commission file number     0 - 30215
                                               ------------



                              SAFARI  ASSOCIATES,  INC.
                              -------------------------
           (EXACT NAME OF SMALL BUSINESS ISSUER AS SPECIFIED IN ITS CHARTER)



                  UTAH                                   87-9369569
          ------------                              --------------------
(STATE  OR  OTHER  JURISDICTION  OF                    (IRS  EMPLOYER
 INCORPORATION  OR  ORGANIZATION)                   IDENTIFICATION NUMBER)



                64  EDSON STREET,  AMSTERDAM,  NEW  YORK   12010
                ------------------------------------------------
                    (Address of principal executive offices)


                                 (518)  842-6500
                                 ---------------
                           (Issuer's Telephone Number)



     Check  whether  the  issuer  (1)  filed all reports required to be filed by
Section  13  or 15(d) of the Exchange Act during the past 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.


As  of  October  28,  2002,  12,028,583 shares of common stock were outstanding.


                                        1
<PAGE>

                            SAFARI  ASSOCIATES,  INC.

                                  FORM  10-QSB
                      QUARTER  ENDED  SEPTEMBER  30,  2002


                               TABLE  OF  CONTENTS
                               -------------------

                                                                            PAGE
                                                                            ----

PART  I  -  FINANCIAL  INFORMATION

     Item  1  -  Financial  Statements

              -  Consolidated  Balance  Sheet  as  of  September 30, 2002     3

              -  Consolidated  Statement  of  Income  for  the  three  and
                 nine  months  ended  September  30,  2002  and  2001         4

              -  Consolidated  Statement  of  Cash  Flows  for  the  three
                 and  nine  months  ended  September  30,2002  and  2001      5

              -  Notes  to  Consolidated  Financial  Statements.         6-  11

     Item  2  -  Management's  Discussion  and  Analysis
                 Or  Plan  of  Operations.                              12-  13

PART  II  -  OTHER  INFORMATION

     Item  1  -  Legal  Proceedings.                                         14

     Item  2  -  Changes  in  Securities  and  Use  of  Proceeds.            14

     Item  3  -  Default  upon  Senior  Securities 14

     Item  4  -  Submission of Matters to a Vote of Security Holders.        14

     Item  5  -  Other  Information.                                         14

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

                                        2
<PAGE>

                         PART I - FINANCIAL INFORMATION

                            SAFARI ASSOCIATES, INC.
                            -------------------------
                           CONSOLIDATED BALANCE SHEET
                          ----------------------------
                               SEPTEMBER 30, 2002
                              --------------------

                                     ASSETS
                                     ------
<TABLE>
<CAPTION>

<S>                                                <C>
                                                      2002
                                                    --------
                                                  (UNAUDITED)
CURRENT  ASSETS:
----------------

Cash                                              $    10,088
Accounts Receivable -                                   2,560
Inventory                                              40,416
Prepaid Expenses                                       55,431
                                                  ------------
  Total Current Assets                                108,495
                                                  ------------

PROPERTY, PLANT AND EQUIPMENT:
------------------------------
Net of Accumulated Depreciation of $23,163             19,969
                                                  ------------

OTHER ASSETS:
-------------
Goodwill - Net of Amortization of $5,472               21,883
Other Assets                                           82,853
                                                  ------------
  Total Other Assets                                  104,736
                                                  ------------
  Total Assets                                    $   233,200
                                                  ============


         LIABILITIES  AND  STOCKHOLDERS'  (DEFICIT)
         ------------------------------------------

CURRENT LIABILITIES:
--------------------
Notes payable                                     $    18,000
Accounts Payable                                      352,610
Payroll and Other Taxes Payable                        27,093
Accrued Expenses                                      171,259
                                                  ------------
  Total Current Liabilities                           568,962
                                                  ------------

OTHER LIABILITIES:
------------------
Loan Stockholder                                       21,092
Convertible Notes Payable                             505,500
                                                  ------------
  Total Other Liabilities                             526,592
                                                  ------------
  Total Liabilities                                 1,095,554
                                                  ------------

Commitments and Contingencies - Note 7

STOCKHOLDERS' (DEFICIT):
------------------------
Common Stock, par value $.001 authorized
   100,000,000 shares, issued and
   outstanding 12,028,583  shares                      12,029
Additional Paid-in Capital                          1,891,409
Retained (Deficit)                                 (2,765,792)
                                                  ------------
  Total Stockholders' (Deficit)                      (862,354)
                                                  ------------

  Total Liabilities and Stockholders'  (Deficit)  $   233,200
                                                  ============
</TABLE>
                                        3
<PAGE>
                            SAFARI ASSOCIATES, INC.
                            -------------------------
                      CONSOLIDATED STATEMENT OF OPERATIONS
                    ---------------------------------------
        FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
    -----------------------------------------------------------------------
<TABLE>
<CAPTION>

<S>                                     <C>           <C>               <C>            <C>
                                                 THREE  MONTHS                  NINE  MONTHS
                                                 -------------                  ------------
                                              2002           2001            2002            2001
                                            --------       --------       ---------       ----------
                                          (UNAUDITED)    (UNAUDITED)     (UNAUDITED)     (UNAUDITED)

Revenue                                 $     19,067    $     55,453    $    106,735   $     297,674
                                        -------------   -------------   -------------   -------------
Cost of Sales                                 30,573          63,797         114,926         299,032
                                        -------------   -------------   -------------   -------------
Gross Profit                                 (11,506)         (8,344)         (8,191)         (1,358)
                                        -------------   -------------   -------------   -------------

OPERATING EXPENSES:
-------------------
Selling Expenses                               4,376           4,901          27,329          20,674
General and Administrative Expenses           40,658          64,176         226,753         188,877
Research and Development Costs                65,490          18,750          80,167          22,542
                                        -------------   -------------   -------------   -------------
  Total Operating Expenses                   110,524          87,827         334,249         232,093
                                        -------------   -------------   -------------   -------------
Net (Loss) from Operations                  (122,030)        (96,171)       (342,440)       (233,451)

Other (Expenses)
----------------
Interest Expense                             (13,035)         (4,306)        (38,024)        (35,435)
Loss on Disposal of Property                       -               -               -         (72,849)
                                        -------------   -------------   -------------   -------------
  Total Other (Expenses)                     (13,035)         (4,306)        (38,204)       (108,284)
Net (Loss) before Provision
   For Income Taxes                         (135,065)       (100,477)       (380,464)       (341,735)
Provision for Income Taxes                         -               -               -               -
                                        -------------   -------------   -------------   -------------
Net (Loss) before Provision for Income
Taxes and Extraordinary Item                (135,065)       (100,477)       (380,464)       (341,735)
Extraordinary Item-Gain from
Discontinued Operations                            -               -               -         103,558
                                        -------------   -------------   -------------   -------------
Net  (Loss)                             $   (135,065)   $   (100,477)   $   (380,464)   $   (238,177)
                                        =============   =============   =============   =============


Basic and fully Diluted(Loss) Per Share
Before Extraordinary Item               $      (.01)    $       (.01)   $       (.03)   $       (.04)
Extraordinary Item                                -                -               -             .01
                                        =============   =============   =============   =============
Net (Loss) per Common Share             $      (.01)    $       (.01)   $       (.03)           (.03)
                                        =============   =============   =============   =============
Weighted Average Shares Outstanding       12,028,583       9,154,112      11,121,722       8,628,588
                                        =============   =============   =============   =============
</TABLE>



                                        4
<PAGE>

                            SAFARI ASSOCIATES, INC.
                            -------------------------
                    CONSOLIDATED  STATEMENT  OF  CASH  FLOWS
                    ----------------------------------------
          FOR  THE NINE MONTHS  ENDED  SEPTEMBER  30,  2002  AND  2001
          ------------------------------------------------------------

<TABLE>
<CAPTION>

<S>                                            <C>         <C>
                                                  2002          2001
                                               ----------  ----------
                                               (UNAUDITED) (UNAUDITED)

CASH FLOWS FROM OPERATING ACTIVITIES:
-------------------------------------
Net Income (Loss)                              $(380,464)  $(238,177)
Adjustment to Reconcile Net Income (Loss)
   To Net Cash Used in Operating Activities:
      Depreciation and Amortization                4,858       7,483
      Services provided for common stock          99,000           -
      Gain From Discontinued Operations                -    (103,558)
      Loss From Sale of Property                       -      72,849
Changes in Operating Assets & Liabilities:
   Accounts Receivable                             9,590      27,751
   Inventory                                      15,676      (6,268)
   Prepaid Expenses and Other Assets              14,090     (39,148)
Accounts Payable                                  (4,896)     54,653
Accrued Expenses                                  93,065      50,003
Deferred Compensation                                  -      33,450
                                               ----------  ----------
Net Cash Used in Operating Activities           (149,081)   (141,142)
                                               ----------  ----------

CASH FLOWS FROM INVESTING ACTIVITIES:
-------------------------------------
Proceeds From Sale of Property                         -       87,215
Property, Plant and Equipment                     (7,886)           -
                                               ----------  ----------
  Net Cash Used in Investing Activities           (7,886)      87,215
                                               ----------  ----------
CASH FLOWS FROM FINANCING ACTIVITIES:
-------------------------------------
Issuance of Common Stock                         149,745      84,200
Notes Payable                                      3,000      12,000
Payment of Mortgage                                    -     (40,000)
Loans Stockholder                                  2,033           -
                                               ----------  ----------
  Net Cash Provided by Financing Activities      156,798      56,200
                                               ----------  ----------
Net Increase (Decrease) in Cash                     (169)      2,273

Cash - Beginning of Period                        10,257      30,125
                                               ----------  ----------
Cash - End of Period                           $  10,088   $  32,398
                                               ==========  ==========
</TABLE>

                                        5
<PAGE>

                            SAFARI  ASSOCIATES,  INC.
                            -------------------------
                 NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS
                 ----------------------------------------------
                              SEPTEMBER  30,  2002
                              --------------------


The following financial information is submitted in response to the requirements
of  Form  10-QSB  and  does  not  purport to be financial statements prepared in
accordance  with  generally  accepted accounting principles. Certain information
and  footnote  disclosures normally included in financial statements prepared in
accordance  with generally accepted accounting principles have been condensed or
omitted,  although  the  Company  believes  the  disclosures  that  are made are
adequate  to  make  the  information  presented  not misleading. Further, in the
opinion  of  the management, the interim financial statements reflect fairly the
financial  position  and  results  of  operations  for  the  periods  indicated.

It  is suggested that these interim consolidated financial statements be read in
conjunction  with  the  financial  statements  and notes thereto included in the
Company's Form 10KSB containing the Company's audited financial statements as of
and  for the year ended December 31, 2001 filed with the Securities and Exchange
Commission.

The  results  of operations for the nine months ended September 30, 2002 are not
necessarily  indicative  of  results  to  be expected for the entire fiscal year
ending  December  31,  2002.

NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES:
-----------------------------------------------------------
CONSOLIDATION
-------------
The  accompanying  Consolidated Financial Statements include the accounts of the
Company  and  all  its  wholly owned subsidiaries. Intercompany transactions and
balances  have  been  eliminated  in  consolidation.

INVENTORY
---------
Inventory is stated at the lower of cost, using the first-in, first-out basis or
market.

PROPERTY  AND  EQUIPMENT
------------------------
Property  and  equipment  are  recorded  at  cost  and  depreciated  using  the
straight-line  method over their estimated useful lives. The cost of maintenance
and  repairs  is  charged  to  operations  as  incurred.

INTANGIBLES
-----------
Goodwill  represents  the excess of the cost of companies acquired over the fair
value  of  their  net assets at the dates of acquisition and was being amortized
using  the straight-line method over 15 years. Effective to the issuance of FASB
No.  142,  the  Company  discontinued  amortizing  goodwill.
The  Company  follows  Statement  of  Financial  Accounting  Standard  No.
121,Impairment  of  Long-lived  Assets,  by reviewing such assets for impairment
whenever  events  or  changes in circumstances indicate that the carrying amount
may  not  be  recoverable.


                                        6
<PAGE>

                             SAFARI ASSOCIATES, INC.
                             -----------------------
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                   ------------------------------------------
                               SEPTEMBER 30, 2002
                               ------------------


NOTE  2-  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)
---------------------------------------------------------------------
INCOME  TAXES
-------------
The  Company records deferred income taxes using the liability method. Under the
liability  method,  deferred  tax  assets and liabilities are recognized for the
expected  future tax consequences of temporary differences between the financial
statement  and  income  tax  basis  of  the Company's assets and liabilities. An
allowance is recorded, based on currently available information, when it is more
likely  than  not  that any or all of a deferred tax asset will not be realized.
The provision for income taxes include taxes currently payable, if any, plus the
net  change  during  the period presented in deferred tax assets and liabilities
recorded  by  the  Company

PER  SHARE  DATA
----------------
The  Company has adopted the standards set by the Financial Accounting Standards
Board  and  computes  earnings  per  share  data in accordance with SFAS No. 128
"Earning  per Share." The basic per share data has been computed on the loss for
the  period  divided by the historic weighted average number of shares of common
stock  outstanding.  All potentially dilutive securities have been excluded from
the  compilation  since  they  would  be  antidilutive.

ESTIMATES  AND  ASSUMPTIONS
---------------------------
Preparing  financial statements in conformity with generally accepted accounting
principles requires management to make estimates and assumptions that effect the
reported  amounts  of  assets, liabilities, revenue, and expenses at the balance
sheet date and for the period then ended. Actual results could differ from these
estimates


NOTE  3  -  INCOME  TAXES
-------------------------
There  is  no  provision  for  federal or state income taxes for the years ended
December  31,  2001  and  2000  since the Company has incurred operating losses.
Additionally,  the  Company  has  reserved  fully  for  any potential future tax
benefits  resulting  from its carryforward operating losses. Deferred tax assets
at  September  30,  2002  and  2001  consist  of  the  following:

<TABLE>
<CAPTION>
                                      2002        2001
                                   ----------  ----------


<S>                                <C>          <C>
  Allowance for doubtful accounts  $        -   $  9,600
  Net Operating Loss Carryforward   1,027,000    761,000
  Property and Equipment                3,000      3,000
                                   ----------   --------
                                    1,060,000    773,600
  Valuation Allowance               1,060,000    773,600
                                   ----------   --------
                                          -0-   $  - 0 -
                                   ==========   ========
</TABLE>

As of December 31, 2001, the Company has net unused operating loss carryforwards
of  approximately  $2,100,000,  which  expire in various years from 2002 through
2017.

                                        7
<PAGE>

                            SAFARI  ASSOCIATES,  INC.
                            -------------------------
                 NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS
                 ----------------------------------------------
                              SEPTEMBER  30,  2002
                              --------------------


NOTE  4  -  NOTES  PAYABLE
--------------------------
CONVERTIBLE  NOTES  PAYABLE
---------------------------

On  December  20,  2000, one of the creditors of the Company agreed to receive a
note  from  the  Company  in the amount of $45,000 payable on December 19, 2002,
together  with interest thereon at the rate of 8% per annum. Commencing one year
from the date of the note, the creditor may convert any portion of the note into
restricted  share  of  common stock in the Company at a conversion rate of  $.15
per  share.

On August 9, 2001 the Company and three individuals agreed to convert a total of
$460,500  of  accrued  expenses,  deferred  compensation,  and  loan  payable
stockholder  into  convertible  notes.  The convertible notes are for a two year
period  with  interest at the rate of 8% per annum, payable quarterly commencing
December  1,  2001 until they mature on August 9, 2003.The notes are convertible
into  restricted  shares of common stock at a conversion rate of $.15 per share.

NOTES  PAYABLE
--------------
As  of September 30,2002,the Company has two outstanding notes payable. The term
of  the notes are on a month to month basis with interest accrued at the rate of
10%  per  annum.

NOTE    -5-  LOAN  STOCKHOLDER
------------------------------
As  of  September  30,  2002,  Mrs.  Lillian  Berger,  the major stockholder and
Secretary/Director  in  the Company was owed a total of $21,092 . As of December
31,2001,Mr. Morton Berger had loaned  the Company a total of  $17,039.In January
2002,Mr.  Berger  converted  the  loan  into  restricted shares of the Company's
common  stock(see  note  6).

NOTE  6  -  COMMON  STOCK
-------------------------
On  January  23,  2002  the  Company signed a Consulting and Marketing Licensing
Agreement  with  Mr.  Mark  Neuhaus.  The  agreement provides for Mr. Neuhaus to
promote  and  develop  a  market  for  the  Company's products and services. The
agreement  gives  Mr.  Neuhaus  a  nonexclusive  license  to  use  the  licensed
trademarks  of  the  Company on the consultants racing car, racing equipment and
clothing  .In  accordance with the Consulting and Marketing licensing Agreement,
which  included  a  stock  option  plan  , the Company filed an S-8 Registration
Statement  on  January 30,2002 registering 4,000,000 shares 0f Common Stock into
which  the  stock options could be exercised for an exercise price of  $0.15 per
share  , or at the lowest sales price 30 days prior to exercising the option. In
February  ,  2002  Mr.  Neuhaus exercised an option for 333,333 shares of common
stock  and  paid  the  Company  $50,000.

In  March  2002,Mr.  Neuhaus  exercised another option for an additional 666,666
shares  of  the  Company's  common stock for which the Company received $50,000.

                                        8
<PAGE>


                            SAFARI  ASSOCIATES,  INC.
                            -------------------------
                 NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS
                 ----------------------------------------------
                              SEPTEMBER  30,  2002
                              --------------------

NOTE  -6-COMMON  STOCK(CONTINUED)
---------------------------------
On  January  30,2002,  the  Company  filed  a Form S-8 Registration Statement in
connection  with  a newly established Consultants Compensation Plan. The Company
registered  a  total of 750,000 shares of its Common Stock, which, in accordance
with  the  Plan,  may be issued upon authorization of the Board of Directors and
Plan  administrator  to  eligible consultants .In February, the Company issued a
total  of  180,000  shares of Common Stock pursuant to the Plan, valued at $0.15
per  share,  to  a  consultant  in  exchange  for  legal  services.

During  January 2002, Mr. Morton Berger converted his loan plus additional funds
for  a  total  of  $18,000  into  128,000  shares  of  restricted  common stock.

During  January  2002,  one of the note holders converted his note plus interest
accrued  on  the note for a total of $5,500 into 20,000 restricted shares of the
Company's  common  stock.

In  March  2002,the  Company issued 298,872 restricted shares of common stock to
four  individuals  for  a  total  of  $31,087.

In June, 2002 ,the Company issued 350,000 shares of common stock pursuant to the
Company's Consultant Compensation Plan for research and development costs valued
at  $.10  per  share

In July, 2002 ,the Company issued 500,000 shares of common stock pursuant to the
Company's Consultant Compensation Plan for financial services valued at $.03 per
share

NOTE  7  -  COMMITMENTS  &  CONTINGENCIES
-----------------------------------------
EMPLOYMENT  AGREEMENT
---------------------
On  April  1,  1994,  the  Company entered into an employment agreement with Mr.
Morton  Berger, President of the Company. The term of the agreement was for five
years  and, thereafter, continues on a year to year basis. Compensation shall be
paid  at  the  rate  of  $52,000  per  year.

LICENSE  AGREEMENT
------------------
On  January  1,  1998, Smith & Wesson Corp., Springfield, Massachusetts, granted
Safari  Enterprises,  Inc., an exclusive Trademark License to make, use and sell
single-use  and  conventional  film using still cameras under the Smith & Wesson
brand  name  in  the  United States, its possessions and Canada. The term of the
License  is  from  January  1,  1998  to January 30, 2001. The license agreement
provides  that  Safari Enterprises, Inc. will pay Smith & Wesson Corp. a minimum
royalty of $15,000 the first eighteen months; $25,000 the next twelve months and
$35,000  the  final twelve months. The minimums are to be paid against a royalty
of  5%  of  net  sales,  whichever is greater. The license further provides that
Safari  Enterprises,  Inc.  can assign the license to an affiliate company under
the  same  control  as Safari Enterprises, Inc. On January 12, 1998, the License
was  amended  by  adding  recoil  pads  for  firearms effective January 1, 1998.

                                        9
<PAGE>


                            SAFARI  ASSOCIATES,  INC.
                            -------------------------
                 NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS
                 ----------------------------------------------
                              SEPTEMBER  30,  2002
                              --------------------

NOTE  -7-  COMMITMENTS  &  CONTINGENCIES(CONTINUED)
---------------------------------------------------

The  minimum  royalties were not increased and covered both products. On May 18,
1999,  the license was further amended to include targets for firearms effective
January 1, 1998. Again the minimum royalties were not increased. On November 25,
1997  the Company organized a wholly owned subsidiary, Photography for Evidence,
Inc.,  under the laws of the State of New York. On December 17, 1997 Photography
for Evidence, Inc., filed a Certificate of Doing Business under the name Smith &
Wesson  Cameras.  The  license agreement was assigned to Smith & Wesson Cameras.

On  January  29,  1998  the  Company organized a wholly owned subsidiary, Impact
Dampening  Technologies,  Inc.,  a  New  York Corporation. On February 10, 1998,
Impact Dampening Technologies, Inc., filed a Certificate of Doing Business under
the  name  Smith & Wesson Recoil Pad Company. Safari Enterprises, Inc., assigned
its exclusive recoil pad License to Smith & Wesson Recoil Pad Company. On August
2,  the  Company organized Safari Target Corporation, a New York Corporation. On
August 20, 1999, Safari Target Corporation filed a Certificate of Doing Business
as  Smith & Wesson Target Company. Safari Enterprises, Inc., assigned its target
license  to  Smith  &  Wesson  Target  Company.

The  original license which expired on January 30, 2001 has been extended for an
additional  three years and the minimum annual royalty for all three licenses is
now  $10,000  per  year.

LEASE
-----
In June 19, 2001 the Company entered into a ten years lease of the facilities at
64  Edson Street in Amsterdam, New York. The lease requires the Company to pay a
monthly  rental  of  $1,057.82  plus  all  real  estate  taxes,  insurance,  and
maintenance  costs  on  the  premises.

On  February  3,2002  the  Company  leased  premises  at No. 10 East Main Street
,Greenwood,  Indiana  for  a  term  of  one  year  at  a monthly rent of $1,000.

NOTE  8  -  GOING  CONCERN
--------------------------
The  Company  has  experienced operating loss since inception and has a retained
deficit  as  of September 30,2002 of $2,765,000. Approximately $1,155,000 of the
losses  occurred  prior  to  1997,  and  is  a  direct  result  of  discontinued
operations. Additional losses of approximately $275,000 were incurred during the
development  stage  in  the  production  of and recycling of single use cameras.
Additionally,  the  Company  has  funded research and development cost that have
gone  into  the design and production of a line of self sealing reactive targets
and  recoil  pads.

                                       10
<PAGE>


                            SAFARI  ASSOCIATES,  INC.
                            -------------------------
                 NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS
                 ----------------------------------------------
                              SEPTEMBER  30,  2002
                              --------------------




The  Company  had  a  net  loss  for  the nine months ended September 30,2002 of
$380,464  which  included  $99,000  for  services  which were funded through the
issuance  of common stock. An additional $35,000 of the losses included fees and
amortization  of prepaid expenses which the creditors are deferring the payments
until  the  Company  can  generate  a  positive  cash  flow from operations. The
remaining  portion  of  the  loss  of approximately $247,000 was financed by the
proceeds  from the issuance of common stock and the increase of accrued expenses
which  the  Company does not expect to repay until the operations of the Company
become  profitable.  Shortfalls  in  cash  restricted  the  Company's ability to
produce  single  use  cameras  during  the first quarter of 2002 and as a result
there was idle time which caused the Company to reflect a negative gross profit.
Proceeds  received  from  equity  issued during the period has been used to fund
operations  and  continue  funding research and development costs that have gone
into  the  design  of  products and a production facility for the manufacture of
molecuthane  products  including  recoil  pads  and  inserts for body armor. The
Company  is  pursuing  several  methods  of  financing  this shortfall including
additional  equity  financing.

Even  if  the  Company  is  capable  of  generating a profit in fiscal 2002, the
Company  may  be  required  to  raise  additional  equity  to reduce outstanding
liabilities,  finance  expansion,  and  introduce new product lines. There is no
assurance that the Company will be able to raise the capital that it may require
for the aforementioned purposes, or if it is able to raise such capital, that it
can  do  so  on  terms  favorable  to  the  Company.

NOTE  9  -  SUPPLEMENTAL  DISCLOSURES  TO  CASH  FLOW  STATEMENT
----------------------------------------------------------------

                                            2002         2001
                                         ---------     ---------

Cash  Paid  During  the  Period  For:
        Interest                         $   4,577     $   9,732
        Income  Taxes                    $    -        $    -

                                       11
<PAGE>


ITEM  2  -  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATION
----------------------------------------------------------------------------

RESULTS  OF  OPERATIONS
-----------------------
Revenue  for  the nine months ended September 30,2002 was $106,735 a decrease of
$190,939  or  64.1%  from the nine months ended September 30, 2001. The decrease
was entirely due to a decrease in production and shipment of recycled single use
disposable  cameras.  The Company is concentrating on its Smith & Wesson brand ,
which  generates  a  higher  gross  profit than generic brands, or Safari Camera
brands.  Production was limited due to cash restrictions and the availability of
recyclable  shells.  The  cost  of sales for the nine months ended September 30,
2002  was  $114,926,  a decrease of $184,106 or 61.5% from the nine months ended
September 30,2001. Cost of sales for the nine months ended September 30,2002 was
107.7%  of sales compared to 100.4% for the nine months ended September 30,2001.
The  price  of recycled disposable camera shells increased by over 100.0% during
the  beginning  of 2002 compared to 2001.This increased the cost of sales during
2002 by approximately $10,000. In 2001,the deterioration in the cost of sales as
a  percentage  of  gross  revenue was directly related to the return of rejected
products  from  a  former  distributor.  The  Company incurred additional labor,
freight,  and packaging costs to repackage those products to be delivered to new
customers.
Operating  expenses  for the nine months ended September 30,2002 were $ 334,249,
an  increase of $102,156, or 30.6% over the nine months ended September 30,2001.
Selling  expense for the nine months ended September 30,2002 increased by $6,655
to  $27,327.  All  of  the  increase was due to telemarketing expenses that also
resulted  in a larger telephone expense. General and administrative expenses for
the  nine months ended September 30,2002 were $226,753 an increase of $37,876 or
20.0%  over  the nine months ended September 30,2001. Legal expense increased by
$27,000 related to the filing of two form S-8 registration statements filed with
the  Securities  and  Exchange  Commission and the preparation of a consultants'
compensation  plan.  Rent  , office , telephone and utility expense increased by
approximately  $5,000  related  to  the  new  premises  in Indiana. Research and
development  costs  increased  by  approximately  $57,625 during the nine months
ended  September  30,2002  over  the  nine months ended September 30,2001 as the
Company  did  additional  research on the production of molecuthane products and
other  new  products.
Interest  expense  for  the  nine  months  ended  September 30,2002 increased by
approximately $2,600 over the nine months ended September 30,2001  as the amount
of  interest bearing debt increased due to the conversion of current liabilities
into  long  term  debt.

LIQUIDITY  AND  CAPITAL  RESOURCES
----------------------------------

As  of  September 30,2002 the Company has current assets of $108,495 and current
liabilities  of  $568,962. Approximately $52,000 of the liabilities are from two
inactive  subsidiaries.  The  Company  is  investigating  obtaining  a  capital
investment  or  long  term loan of approximately $250,000. There is no assurance
that the Company can obtain the required investment or long term loan, or if can
obtain  such  capital investment or long term loan that will be favorable to the
Company.  Should  the Company be unable to secure the capital investment or long
term  loan,the  Company  may  have  to  discontinue  its  operations.




                                       12
<PAGE>



FORWARD-LOOKING STATEMENTS
--------------------------
Certain  statements contained in this Form 10QSB including statements containing
the  words "believes," "anticipates," "estimates," "expects," "projections," and
words of similar import, constitute "forward-looking statements." You should not
place  undue  reliance  on  these forward-looking statements. Our actual results
could  differ  materially  from  those  anticipated  in  these  forward-looking
statements  for  many  reasons.
Molecuthane  is  a  Safari  Associates, Inc., registered trademark for a molded,
multi-layered  energy  dampening  material  composed of molecularly cross-linked
urethane molecules. Each energy dampening use is carefully studied and the final
molded  material  is meticulously engineered to deliver the required results. It
can  be  designed  to  meet  almost  any application where energy absorption and
impact  dampening  are  concerns.  The  applications  are  infinite.
To  date,  the  Company  has demonstrated the use of Molecuthane in recoil pads,
automotive  shoulder  harness pads, as a soft wall barrier at an auto racetrack,
and,  as  a  component  to  be added to body armor to reduce blunt force trauma.
The  Company  has completed its research and development on its molecuthane body
armor  inserts  designed  to  prevent  blunt  force  traumaThe Company has also
completed  modification  of the molecuthane used in its recoil pads. The Company
has  completed  its  research  and development on its harness pads. The pad will
prevent  injury and discomfort suffered by racecar drivers due to the tremendous
G  forces  that  the  harness  is  subjected to , particularly in the event of a
collision  or  other  accident.  As  a  result  of  the  Company's  research and
development,  they  discovered new applications for the molecuthane that had not
previously  been  contemplated. Additional research and development is needed to
proceed  with  any  new  products.
The  Company has delayed its plan to produce molecuthane products. Management of
the Company has decided to place all of its efforts on completing development of
the  Flame  Tame  and bring that product to market. The Company believes that it
will  be  able  to  obtain  the  financing  necessary  to  have  the  Flame Tame
manufactured  and brought to market and that the potential income from the Flame
Tame  is  closer  and  will  be  greater than that which can be generated by the
molecuthane  products.
The  Company  has  a  working  prototype of the Flame Tame and is working on the
final  modifications  of  some of the components which will reduce the weight of
the product and cost of production .The Flame Tame is a self contained unit that
can  be  mounted  in  room  of  a building structure . A smoke and heat detector
activates  the  unit  which  sets  off an alarm and then sprays a fire retardent
material  over an area of approximately 200 square feet, retarding the spread of
a  fire.  The  advantage of the Flame Tame is that it does not require expensive
installation  costs  as  is  the  case  with sprinkler systems and can easily be
installed in both existing structures and new construction. The Company owns the
patent  on  the  Flame  Tame  device and has registered the name with the United
States  Patent  and  Trademark  Office.
The  Company  is  constructing  a web site that will include all Safari products
including cameras, recoil pads, self sealing targets and will include a complete
line  of Smith & Wesson  apparel, accessories and memorabilia. The web site will
be a totally interactive E Commerce web site, which the Company expects to be on
line  within  the  next  30  days.



                                       13
<PAGE>







                            SAFARI  ASSOCIATES,  INC.
                            -------------------------

                         PART  II  -  OTHER  INFORMATION
                         -------------------------------


ITEM   1     LEGAL  PROCEEDINGS
--------     ------------------
               None


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
               --------
      Exhibit  Index

         3.1   *Initial  Articles  of  Incorporation  of  Mag  Enterprises, Inc.
         3.2   *Certificate  of  Amendment  to  Articles  of  Incorporation
         3.3   *Certificate  of  Amendment  to  Articles  of  Incorporation
               changing  name  to  Safari  Associates,  Inc.
         3.4   Articles  of  Amendment  to  Articles  of  Incorporation changing
               capital  structure
         3.5   Articles  of  Amendment  to  Articles  of  Incorporation
               designating  a  series  of  convertible  preferred  stock
         10.9  Assignment  of  Patent.


         *  These  documents  were  also  filed  previously  with  the Company's
         10-SB,  but  appear  in  this  filing  for  regulatory  purposes  only.

          (b)  Reports  on  Form  8-K
               ----------------------
               None.

                                       14
<PAGE>



                                  EXHIBIT 99.2

                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO

SECTION  906  OF  THE  SARBANES-OXLEY  ACT  OF  2002

In connection with the Quarterly Report of Charter Municipal Mortgage Acceptance
Company  (the  "Company")  on  Form  10-Q for the period ending June 30, 2002 as
filed  with  the  Securities  and  Exchange  Commission  on the date hereof (the
"Report"),  we,  Morton  Berger  and  Lillian Berger, President/CFO/Director and
Secretary/Director respectively, certify, pursuant to 18 U.S.C. Section 1350, as
adopted  pursuant  to  Section  906  of  the  Sarbanes-Oxley  Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of
the  Securities  Exchange  Act  of  1934;  and

(2)  The  information  contained  in the Report fairly presents, in all material
respects,  the  financial  condition  and  result  of operations of the Company.



                         /s/  Morton  Berger

                         Morton  Berger,  CEO,CFO
                         President  and  Director
                         November  8,  2002

                         /s/  Lillian  Berger

                         Lillian  Berger,
                         Secretary  and  Director







                                   SIGNATURES
                                   ----------


In  accordance  with  the  requirements  of the Exchange Act, the Registrant has
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                                   SAFARI  ASSOCIATES,  INC.






                                   ------------------------------
                                        Morton  Berger
                                        Chairman,  CFO  and  CEO
___________________
Lillian  Berger,  Director  and  Secretary


                                       15
<PAGE>