**U.S.      SECURITIES AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**FORM      10-QSB/A**

**Amendment      No. 1**

**Commission      file number:**
**000-26261**

**Global      Materials & Services, Inc. **

**(formerly      known as American Fire Retardant      Corp.)**

| **Nevada** (State                or other jurisdiction of incorporation or organization)                                      | **88-0382645** (I.R.S.                Employer Identification No.)  |
|-----------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------|
| **9316                Wheatlands Road, Suite C, Santee, California** (Address                of principal executive offices)  | **92071** (Zip                Code)                                 |

**(619)      258-3640**

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**TABLE      OF CONTENTS**

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**PART      I - FINANCIAL INFORMATION**

**Item      1. Financial Statements.**

The      financial statements included herein have been prepared by the Company, without      audit pursuant to the rules and regulations of the United States Securities      and      Exchange Commission (the "Commission"). Certain information and footnote      disclosure normally included in financial statements prepared in accordance      with      accounting principles generally accepted in the United States of America have      been condensed or omitted pursuant to such rules and regulations, although      the      Company believes that the disclosures are adequate to make the information      presented not misleading. 

**[THE      REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] **

----

| **Global                Materials & Services, Inc.****(formerly                  known as American Fire                  Retardant Corp.)****Balance                Sheets** |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                             |   |   |   |   |   |
| **ASSETS**                                                                                                                                                                       |   |
|                                                                                                                                                                             |   |   |   |   |   |
|                                                                                                                                                                             |   | June                30, |   | December                31, |   |
|                                                                                                                                                                             |   | 2003 |   | 2002 |   |
|                                                                                                                                                                                  |   |  --------------------- |   |  ------------------- |   |
|                                                                                                                                                                                  |   |   | (Unaudited) |   |   |   |   |
|                                                                                                                                                                                  |   |   | (Restated) |   |   |   |   |
|                                                                                                                                                                             |   |   |   |
| CURRENT                ASSETS                                                                                                                                                    |   |   |   |   |   |   |   |
|                                                                                                                                                                             |   |   |   |   |   |   |   |
| Cash                                                                                                                                                                             |   | $ | - |   | $ | 2,938 |   |
| Inventory                                                                                                                                                                        |   |   | 63,598 |   |   | 41,024 |   |
| Accounts                Receivable, net                                                                                                                                          |   |   | 488,910 |   |   | 237,385 |   |
| Accounts                receivable, related                                                                                                                                      |   |   | 20,054 |   |   | - |   |
|                                                                                                                                                                             |   |   | --------------------- |   |   | ------------------- |   |
| Total                current assets                                                                                                                                              |   |   | 572,562 |   |   | 281,347 |   |
|                                                                                                                                                                             |   |   | --------------------- |   |   | ------------------- |   |
| PROPERTY                AND EQUIPMENT, NET                                                                                                                                       |   |   | 43,508 |   |   | 67,639 |   |
|                                                                                                                                                                             |   |   | --------------------- |   |   | ------------------- |   |
| OTHER                ASSETS                                                                                                                                                      |   |   |   |   |   |   |   |
|                                                                                                                                                                             |   |   |   |   |   |   |   |
| Restricted                Cash                                                                                                                                                   |   |   | 432,430 |   |   | 432,430 |   |
| Intangible                assets, net                                                                                                                                            |   |   | 3,000 |   |   | 7,500 |   |
| Deposits                                                                                                                                                                         |   |   | 6,223 |   |   | 5,938 |   |
|                                                                                                                                                                                  |   |   | --------------------- |   |   | ------------------ |   |
| Total                Other Assets                                                                                                                                                |   |   | 441,653 |   |   | 445,868 |   |
|                                                                                                                                                                             |   |   | --------------------- |   |   | ------------------ |   |
| TOTAL                ASSETS                                                                                                                                                      |   | $ | 1,057,723 |   | $ | 794,854 |   |
|                                                                                                                                                                                  |   |   | ============ |   |   | ========== |   |
|                                                                                                                                                                             |   |   |   |   |   |   |   |

----

| **Global                Materials & Services, Inc.****(formerly                  known as American Fire                  Retardant Corp.)****Balance                Sheets (Continued)** |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                         |   |
| **LIABILITIES                AND STOCKHOLDERS’ EQUITY (DEFICIT)**                                                                                                                      |   |
|                                                                                                                                                                                         |
|                                                                                                                                                                                         |   |   | June                30,  |   |   | December                31, |   |
|                                                                                                                                                                                         |   |   | 2003 |   |   | 2002 |   |
|                                                                                                                                                                                         |   |   | ------------------- |   |   | ----------------- |   |
|                                                                                                                                                                                         |   |   | (Unaudited) |   |   |   |   |
|                                                                                                                                                                                         |   |   | (Restated ) |   |   |   |   |
| CURRENT                LIABILITIES                                                                                                                                                           |   |   |   |   |   |   |   |
|                                                                                                                                                                                         |   |   |   |   |   |   |   |
| Cash                overdraft                                                                                                                                                                |   | $ | 17,258 |   | $ | - |   |
| Accounts                payable                                                                                                                                                              |   |   | 293,021 |   |   | 367,243 |   |
| Accrued                expenses                                                                                                                                                              |   |   | 1,740,737 |   |   | 1,840,510 |   |
| Shareholder                loans                                                                                                                                                             |   |   | 275,154 |   |   | 224,038 |   |
| Notes                payable                                                                                                                                                                 |   |   | 864,165 |   |   | 580,139 |   |
| Capital                leases                                                                                                                                                                |   |   | 2,200 |   |   | 9,000 |   |
| Line                of Credit                                                                                                                                                                |   |   | 1,878,366 |   |   | 1,878,366 |   |
|                                                                                                                                                                                         |   |   | -------------------- |   |   | ---------------- |   |
| Total                Current Liabilities                                                                                                                                                     |   |   | 5,070,901 |   |   | 4,899,296 |   |
|                                                                                                                                                                                         |   |   | ------------------- |   |   | ---------------- |   |
| Total                Liabilities                                                                                                                                                             |   |   | 5,070,901 |   |   | 4,899,296 |   |
|                                                                                                                                                                                         |   |   | ------------------- |   |   | ---------------- |   |
| COMMITMENTS                AND CONTINGENCIES                                                                                                                                                 |   |   |   |   |   |   |   |
|                                                                                                                                                                                         |   |   |   |   |   |   |   |
| SERIES                A CONVERTIBLE PREFERRED STOCK                                                                                                                                          |   |   |   |   |   |   |   |
| $0.001                par value, 200,000,000 authorized,                                                                                                                                     |   |   |   |   |   |   |   |
| 42,000,000                and 2,500,000 issues and outstanding respectively                                                                                                                  |   |   | 1,104,000 |   |   | 250,000 |   |
|                                                                                                                                                                                         |   |   | ------------------ |   |   | --------------- |   |
| STOCKHOLDERS'                EQUITY (DEFICIT)                                                                                                                                                |   |   |  |   |   |  |   |
|                                                                                                                                                                                         |   |   |   |   |   |   |   |
| Common                Stock, $0.001 par value, 1,800,000,000 shares authorized,                                                                                                              |   |   |   |   |   |   |   |
| 11,376,286                and 438,158 shares issued and outstanding, respectively                                                                                                            |   |   | 11,376 |   |   | 438 |   |
| Additional                paid-in capital                                                                                                                                                    |   |   | 11,981,004 |   |   | 8,254,437 |   |
| Accumulated                Deficit                                                                                                                                                           |   |   | (17,109,558 | ) |   | (12,609,317 | ) |
|                                                                                                                                                                                         |   |   | ------------------- |   |   | ---------------- |   |
| Total                Stockholders' Equity (Deficit)                                                                                                                                          |   |   | (5,117,178 | ) |   | (4,354,442 | ) |
|                                                                                                                                                                                         |   |   | ------------------ |   |   | ---------------- |   |
| TOTAL                LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)                                                                                                                    |   | $ | 1,057,723 |   | $ | 794,854 |   |
|                                                                                                                                                                                         |   |   | ============= |   |   | =========== |   |
|                                                                                                                                                                                         |

----

| **Global                Materials & Services, Inc.****(formerly                  known as American Fire                  Retardant Corp.)** |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| **Statements                of Operations**                                                                                                     |   |
| **(Unaudited)**                                                                                                                                 |   |
|                                                                                                                                            |   | Six                Months Ended  | Three                Months Ended |
|                                                                                                                                            |   | June                30,  | June                30, |
|                                                                                                                                            |   | ------------------------------------------  | --------------------------------------- |
|                                                                                                                                            |   |   | 2003 |   |   | 2002 |   |   | 2003 |   |   | 2002 |   |
|                                                                                                                                            |   |   | -----------------  |   |   | --------------- |   |   | --------------- |   |   | --------------- |   |
|                                                                                                                                            |   |   | (Restated)  |   |   |   |   |   | (Restated) |   |   |   |   |
| NET                SALES                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fireproofing                Services                                                                                                            |   | $ | 704,735 |   | $ | 462,180 |   | $ | 190,912 |   | $ | 265,810 |   |
| Chemical                Sales                                                                                                                   |   |   | 87.931 |   |   | 137,946 |   |   | 49,295 |   |   | 60,595 |   |
|                                                                                                                                            |   |   | ----------------- |   |   | ---------------- |   |   | --------------- |   |   | --------------- |   |
| TOTAL                NET SALES                                                                                                                  |   |   | 792,666 |   |   | 600,126 |   |   | 240,207 |   |   | 326,405 |   |
|                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| COST                OF SALES                                                                                                                    |   |   | 310,409 |   |   | 253,734 |   |   | 115,668 |   |   | 125,837 |   |
|                                                                                                                                            |   |   | ----------------- |   |   | ---------------- |   |   | --------------- |   |   | --------------- |   |
| GROSS                MARGIN                                                                                                                     |   |   | 482,257 |   |   | 346,392 |   |   | 124,539 |   |   | 200,568 |   |
|                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EXPENSES                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Selling,                General & Administrative                                                                                            |   |   | 4,375,244 |   |   | 1,692,501 |   |   | 3,194,880 |   |   | 1,222,376 |   |
| Payroll                expense                                                                                                                  |   |   | 333,255 |   |   | 78,210 |   |   | 74,609 |   |   | 41,933 |   |
| Compensation                expense from stock                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
| options                issued                                                                                                                   |   |   | 18,192 |   |   | - |   |   | 18,192 |   |   | - |   |
| Travel                and entertainment                                                                                                         |   |   | 41,746 |   |   | 51,303 |   |   | 14,103 |   |   | 23,069 |   |
| Depreciation                and amortization expense                                                                                            |   |   | 28,631 |   |   | 32,634 |   |   | 14,316 |   |   | 15,369 |   |
| Bad                debt expense                                                                                                                 |   |   | - |   |   | 585 |   |   | - |   |   | 585 |   |
|                                                                                                                                            |   |   | ------------------ |   |   | ---------------- |   |   | --------------- |   |   | ---------------- |   |
|  Total                Expenses                                                                                                             |   |   | 4,797,068 |   |   | 1,855,233 |   |   | 3,316,100 |   |   | 1,303,332 |   |
|                                                                                                                                            |   |   | ------------------ |   |   | ----------------- |   |   | ---------------- |   |   | ---------------- |   |
| LOSS                FROM OPERATIONS                                                                                                             |   |   | (4,314,811 | ) |   | (1,508,841 | ) |   | (3,191,561 | ) |   | (1,102,764 | ) |
|                                                                                                                                            |   |   | ------------------ |   |   | ----------------- |   |   | ---------------- |   |   | ---------------- |   |
| OTHER                INCOME (EXPENSES)                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss                on disposal of assets                                                                                                       |   |   | - |   |   | (30,101 | ) |   | - |   |   | (30,101 | ) |
| Rental                Income                                                                                                                    |   |   | - |   |   | 6,000 |   |   | - |   |   | 4,500 |   |
| Miscellaneous                Income                                                                                                             |   |   | 16,125 |   |   | 422 |   |   | 15,150 |   |   | 422 |   |
| Interest                Expense                                                                                                                 |   |   | (201,555 | ) |   | (200,364 | ) |   | (107,735 | ) |   | (87,866 | ) |
|                                                                                                                                            |   |   | ------------------ |   |   | ---------------- |   |   | ---------------- |   |   | ---------------- |   |
|  Total                Other Income (Expense)                                                                                               |   |   | (185,430 | ) |   | (224,043 | ) |   | (92,585 | ) |   | (113,045 | ) |
|                                                                                                                                            |   |   | ------------------ |   |   | ---------------- |   |   | ---------------- |   |   | ---------------- |   |
| LOSS                BEFORE INCOME TAXES                                                                                                         |   |   | (4,500,241 | ) |   | (1,732,884 | ) |   | (3,284,146 | ) |   | (1,215,809 | ) |
| PROVISION                FOR INCOME TAXES                                                                                                       |   |   | - |   |   | - |   |   | - |   |   | - |   |
|                                                                                                                                            |   |   | ------------------  |   |   | ---------------- |   |   | ---------------- |   |   | ---------------- |   |
| NET                (LOSS)                                                                                                                       |   | $ | (4,500,241 | ) | $ | (1,732,884 | ) | $ | (3,284,146 | ) | $ | (1,215,809 | ) |
|                                                                                                                                            |   |   | ========== |   |   | ========= |   |   | ========= |   |   | ========= |   |
| BASIC                LOSS PER SHARE                                                                                                             |   | $ | (1.36 | ) | $ | (83.33 | ) | $ | (0.53 | ) | $ | (43.83 | ) |
|                                                                                                                                            |   |   | ========== |   |   | ========= |   |   | ========= |   |   | ========= |   |
| BASIC                WEIGHTED AVERAGE SHARES                                                                                                    |   |   | 3,303,176 |   |   | 20,796 |   |   | 6,242,346 |   |   | 27,741 |   |
|                                                                                                                                            |   |   | ========== |   |   | ========= |   |   | ========= |   |   | ========= |   |
| The                accompanying notes are an integral part of these financial                statements.                                        |
|                                                                                                                                                 |

----

| **Global                Materials & Services, Inc.****(formerly                  known as American Fire                  Retardant Corp.)** |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| **STATEMENTS                OF STOCKHOLDERS’ EQUITY (DEFICIT)**                                                                           |   |
|                                                                                                                                            |   |
|                                                                                                                                            |
|                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                            |   | Common                Stock |   | Additional |   |   |   |   |
|                                                                                                                                            |   | -------------------------------------- |   | Paid-in |   |   | Accumulated |   |
|                                                                                                                                                 |   |   | Shares |   |   | Amount |   |   | Capital |   |   | Deficit |   |
|                                                                                                                                                 |   |   | ---------------- |   |   | ----------------- |   |   | ------------------- |   |   | ------------------ |   |
|                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                December 31, 2002                                                                                                       |   |   | 438,158 |   | $ | 438 |   | $ | 8,254,437 |   | $ | (12,609,317 | ) |
|                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                stock issued for services                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (unaudited)                                                                                                                                     |   |   | 10,438,133 |   |   | 10,438 |   |   | 3,593,174 |   |   | - |   |
|                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cancelled                shares (unaudited)                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (restated)                                                                                                                                      |   |   | (5 | ) |   | - |   |   | (5,000 | ) |   | - |   |
|                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Options                exercised (unaudited)                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (restated)                                                                                                                                      |   |   | 500,000 |   |   | 500 |   |   | 138,393 |   |   | - |   |
|                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                loss for the six months ended                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| June                30, 2003 (unaudited)                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (restated)                                                                                                                                      |   |   | - |   |   | - |   |   | - |   |   | (4,500,241 | ) |
|                                                                                                                                            |   |   | ----------------- |   |   | ----------------- |   |   | -------------------- |   |   | ------------------ |   |
|                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                June 30, 2003 (unaudited)                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (restated)                                                                                                                                      |   |   | 11,376,286 |   | $ | 11,376 |   | $ | 11,981,004 |   | $ | (17,109,558 | ) |
|                                                                                                                                            |   |   | ========== |   |   | ========== |   |   | =========== |   |   | ========== |   |

----

| **Global                  Materials & Services, Inc.****(formerly                    known as American Fire                    Retardant Corp.)****Statements                  of Cash Flows****(Unaudited)** |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                              |   | For                  the Six Months Ended |   |
|                                                                                                                                                                                                              |   | June                  30, |   |
|                                                                                                                                                                                                              |   | --------------------------------------------------------- |   |
|                                                                                                                                                                                                              |   | 2003 |   | 2002 |   |
|                                                                                                                                                                                                              |   | --------------------------- |   | -------------------------- |   |
| CASH                  FLOWS FROM OPERATING ACTIVITIES                                                                                                                                                             |   |   | (Restated) |   |   |   |   |
|                                                                                                                                                                                                              |   |   |   |   |   |   |   |
| Net                  Loss                                                                                                                                                                                         |   | $ | (4,500,241 | ) | $ | (1,732,884 | ) |
| Adjustments                  to reconcile net loss to net cash                                                                                                                                                    |   |   |   |   |   |   |   |
|  Provided                  (used) by operating activities:                                                                                                                                                   |   |   |   |   |   |   |   |
|  Common                  stock issued for services                                                                                                                                                           |   |   | 3,585,420 |   |   | 677,800 |   |
|  Convertible                  preferred stock issued for services                                                                                                                                            |   |   | 200,000 |   |   | - |   |
|  Compensation                  expense for stock options issued                                                                                                                                              |   |   | 18,192 |   |   | - |   |
|  Amortization                  of deferred compensation                                                                                                                                                      |   |   | - |   |   | 465,695 |   |
|  Depreciation                  and amortization                                                                                                                                                              |   |   | 28,631 |   |   | 32,634 |   |
|  Loss                  on disposal of assets                                                                                                                                                                 |   |   | - |   |   | 30,101 |   |
|                                                                                                                                                                                                              |   |   |   |   |   |   |   |
| Change                  in Assets and Liabilities:                                                                                                                                                                |   |   |   |   |   |   |   |
|  (Increase)                  decrease in accounts receivable                                                                                                                                                 |   |   | (271,579 | ) |   | 111,059 |   |
|  (Increase)                  in deposits                                                                                                                                                                     |   |   | (285 | ) |   | - |   |
|  (Increase)                  decrease in inventory                                                                                                                                                           |   |   | (22,574 | ) |   | 40,247 |   |
|  Decrease                  in prepaid expenses and intangibles                                                                                                                                               |   |   | - |   |   | 660 |   |
|  (Increase)                  in restricted cash                                                                                                                                                              |   |   | - |   |   | (12,886 | ) |
|  Decrease                  in accounts payable                                                                                                                                                               |   |   | (74,222 | ) |   | 6,523 |   |
|  Increase                  in accrued expenses                                                                                                                                                               |   |   | 554,227 |   |   | 91,456 |   |
|                                                                                                                                                                                                              |   |   | ----------------------- |   |   | ---------------------- |   |
| Net                  Cash Used by Operating Activities                                                                                                                                                            |   |   | (482,431 | ) |   | (289,595 | ) |
|                                                                                                                                                                                                              |   |   | ------------------ |   |   | ---------------------- |   |
| CASH                  FLOWS FROM INVESTING ACTIVITIES                                                                                                                                                             |   |   | - |   |   | - |   |
|                                                                                                                                                                                                              |   |   |   |   |   |   |   |
| CASH                  FLOWS FROM FINANCING ACTIVITIES                                                                                                                                                             |   |   |   |   |   |   |   |
|                                                                                                                                                                                                              |   |   |   |   |   |   |   |
| Increase                  (decrease) in cash overdraft                                                                                                                                                            |   |   | 17,258 |   |   | (20,826 | ) |
| Proceeds                  from notes payable - related                                                                                                                                                            |   |   | 51,116 |   |   | - |   |
| Payments                  on notes payable - related                                                                                                                                                              |   |   | - |   |   | (10,053 | ) |
| Cancellation                  of common stock                                                                                                                                                                     |   |   | (5,000 | ) |   | - |   |
| Proceeds                  from sale of common stock                                                                                                                                                               |   |   | 138,893 |   |   | 226,500 |   |
| Proceeds                  from notes payable                                                                                                                                                                      |   |   | 284,026 |   |   | 45,318 |   |
| Proceeds                  from lines of credit                                                                                                                                                                    |   |   | - |   |   | 56,026 |   |
| Payments                  on notes payable                                                                                                                                                                        |   |   | - |   |   | (2,100 | ) |
| Payments                  on capital lease                                                                                                                                                                        |   |   | (6,800 | ) |   | - |   |
|                                                                                                                                                                                                              |   |   | ----------------------- |   |   | ---------------------- |   |
|  Net                  Cash Provided by Financing Activities                                                                                                                                                  |   |   | 479,493 |   |   | 294,865 |   |
|                                                                                                                                                                                                              |   |   | -------------------------- |  |   | ---------------------- |   |
| NET                  INCREASE (DECREASE) IN CASH                                                                                                                                                                  |   |   | (2,938 | ) |   | 5,270 |   |
|                                                                                                                                                                                                              |   |   |   |   |   |   |   |
| CASH                  AT BEGINNING OF PERIOD                                                                                                                                                                      |   |   | 2,938 |   |   | - |   |
|                                                                                                                                                                                                                   |   |   | -------------------------- |   |   | ---------------------- |   |
| CASH                  AT END OF PERIOD                                                                                                                                                                            |   | $ | - |   | $ | 5,270 |   |
|                                                                                                                                                                                                              |   |   | =============== |   |   | ============= |   |
| The                  accompanying notes are an integral part of these financial                  statements.                                                                                                      |

----

| **Global                  Materials & Services, Inc.****(formerly                    known as American Fire                    Retardant Corp.)****Statements                  of Cash Flows (Continued)****(Unaudited)** |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                          |   | For                  the Six Months Ended |   |
|                                                                                                                                                                                                                          |   | June                  30, |   |
|                                                                                                                                                                                                                          |   | --------------------------------------------------------- |   |
|                                                                                                                                                                                                                          |   | 2003 |   | 2002 |   |
|                                                                                                                                                                                                                          |   | ---------------------- |   | ------------------- |   |
|                                                                                                                                                                                                                          |   | (Restated) |   |   |   |
| SUPPLEMENTAL                  CASH FLOW INFORMATION                                                                                                                                                                           |   |   |   |   |   |
|                                                                                                                                                                                                                          |   |   |   |   |   |   |   |
| CASH                  PAID FOR:                                                                                                                                                                                               |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                          |   |   |   |   |   |   |   |
| Interest                                                                                                                                                                                                                      |   | $ | 201,555 |   | $ | 200,364 |   |
| Income                  Taxes                                                                                                                                                                                                 |   | $ | - |   | $ | - |   |
|                                                                                                                                                                                                                          |   |   |   |   |   |   |   |
| NON-CASH                  FINANCING ACTIVITIES                                                                                                                                                                                |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                          |   |   |   |   |   |   |   |
| Common                  stock issued for services                                                                                                                                                                             |   | $ | 3,593,172 |   | $ | 677,800 |   |
| Convertible                  preferred stock issued for services                                                                                                                                                              |   | $ | 200,000 |   | $ | 2,123,500 |   |
| Convertible                  preferred stock issued for satisfaction                                                                                                                                                          |   |   |   |   |   |   |   |
| of                  accrued expenses                                                                                                                                                                                          |   | $ | 654,000 |   |   | - |   |

----

----

|   |   | For                  the Three MonthsEnded                  June 30,  |   | For                  the Six MonthsEnded                  June 30, |   |
|--------|--------|----------------------------------------------------------------------------|--------|--------------------------------------------------------------------|--------|

|                                                  |   |  2003                   |                    | 2002               |   | 2003                  |   | 2002                |         |
|-------------------------------------------------------|--------|------------------------------|-------------------------|--------------------|--------|-----------------------|--------|---------------------|--------------|
|                                                  |   | ---------------------        |                    | ------------------ |   | --------------------- |   | ------------------- |         |
|                                                  |   |   (Restated)  |                    |               |   | (Restated)            |   |                |         |
|  Net                  Loss as reported           |   | $                            | (3,284,146              | )                  | $      | (1,215,809            | )      | $                   | (4,500,241   | ) | $ | (1,732,884 | ) |
|                                                  |   |                         |   =========== |               |   | ==========            |   |                | ============ |   |   | =========== |   |
|  Net                  Loss pro forma             |   | $                            | (3,284,146              | )                  |   | -                     |   | $                   | (4,500,241   | ) |   | - |   |
|                                                  |   |                         |  ===========       |               |   | ==========            |   |                | ============ |   |   | =========== |   |
|  Net                  loss per share as reported |   | $                            | (0.53                   | )                  | $      | (43.83                | )      | $                   | (1.36        | ) | $ | (83.33 | ) |
|                                                  |   |                         |  ===========       |               |   | ==========            |   |                | ============ |   |   | =========== |   |
|  Net                  loss per share pro forma   |   | $                            | (0.53                   | )                  | $      | (43.83                | )      | $                   | (1.36        | ) | $ | (83.33 | ) |
|                                        |   |                         | ===========             |               |   | ==========            |   |                | ============ |   |   | =========== |   |

| NOTE                2 - | GOING                CONCERN |
|-------------------------|------------------------------|

| NOTE                4 - | COMMITMENTS                AND CONTINGENCIES |
|-------------------------|----------------------------------------------|

----

| NOTE                4 - | COMMITMENTS                AND CONTINGENCIES (Continued) |
|-------------------------|----------------------------------------------------------|

|   | Net                sales for the six months ended June 30, 2003 and 2002 include sales                to the                following major customers, together with the receivables due from                those                customers: |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                      |   | Net                Sales                                   |
|---------------------------|--------|-----------------------------------------------------------------|
|                      |   | June                30,                                    |
|                      |   | ---------------------------------------------------------  |
|                      |   |                                                            | 2003 |   |   | 2002 |   |
|                      |   |                                                            | ------------------  |   |   | ------------------- |   |
|                      |   |                                                            |   |   |   |   |   |
| Customer                A |   | $                                                               | 354,074 |   | $ | - |   |
| Customer                B |   |                                                            | 102,360 |   |   | - |   |
|                      |   |                                                            | -------------------  |   |   | -------------------- |   |
|                      |   | $                                                               | 456,434 |   | $ | - |   |
|                      |   |                                                            | =============  |   |   | =========== |   |
|                      |   |                                                            |   |   |   | Trade  |   |
|                      |   |                                                            |   |   |   | Receivable  |   |
|                      |   |                                                            |   |   |   | Balance  |   |
|                      |   |                                                            |   |   |   | June                30,  |   |
|                      |   |                                                            |   |   |   |                          2003 |   |
|                      |   |                                                            |   |   |   |                         -------------------  |   |
| Customer                A |   |                                                            |   |   | $ | 297,996 |   |
| Customer                B |   |                                                            |   |   |   | 65,227 |   |
|                      |   |                                                            |   |   |   | -------------------  |   |
|                      |   |                                                            |   |   | $ | 363,223 |   |
|                      |   |                                                            |   |   |   | ===========  |   |

----

| NOTE                8 - | SETTLEMENT                ON DISPUTED JOB |
|-------------------------|-------------------------------------------|

| NOTE                10 | RESTATEMENT |
|------------------------|-------------|

----

**Item      2. Management’s Discussion and Analysis or Plan of      Operations.**

*Forward-Looking      Information*

**Changes      in Financial Condition**

----

**Results      of Operations**

**External      and Internal Sources of Liquidity**

**Off-Balance      Sheet Arrangements**

----

**Item      3. Controls and Procedures.**

**PART      II - OTHER INFORMATION**

**Item      1. Legal Proceedings.**

**Item      2. Changes in Securities.**

**Item      3. Defaults Upon Senior Securities.**

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

**Item      5. Other Information.**

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

| **Exhibit                No.** | **Identification                of Exhibit**                                                                                                                                                                                                                                      |
|--------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.1                (a)*        | Certificate                of Merger from the State of Wyoming regarding Merger of AFRC Louisiana                with and into AFRC Wyoming.                                                                                                                                      |
| 2.1                (b)*        | Certificate                of Merger from the State of Louisiana regardingMerger                of AFRC Louisiana with and into AFRC Wyoming.                                                                                                                                     |
| 2.1                (c)*        | Articles                of Merger regarding Merger of AFRC Louisiana with andinto                AFRC Wyoming.                                                                                                                                                                    |
| 2.1                (d)*        | Acquisition                Agreement and Plan of Merger regarding Merger of AFRC Louisiana with                and                into AFRC Wyoming.                                                                                                                              |
| 2.2                (a)*        | Certificate                of Merger from the State of Florida regarding Merger of AFRC Florida                with                and into AFRC Wyoming.                                                                                                                         |
| 2.2                (b)*        | Certificate                of Merger from the State of Wyoming regarding Merger of AFRC Louisiana                with and into AFRC Wyoming.                                                                                                                                      |
| 2.2                (c)*        | Florida                Articles of Merger regarding Merger of AFRC Louisianawith                and into AFRC Wyoming.                                                                                                                                                            |
| 2.2                (d)*        | Wyoming                Articles of Merger regarding Merger of AFRC Louisianawith                and into AFRC Wyoming.                                                                                                                                                            |
| 2.2                (e)*        | Acquisition                Agreement and Plan of Merger regarding Merger of AFRC Florida with                and                into AFRC Wyoming.                                                                                                                                |
| 2.3                (a)*        | Articles                of Merger regarding Merger regarding Merger of AFRCWyoming                with and into AFRC Nevada (the Company) to change theDomicile                of the Company.                                                                                    |
| 2.3                (b)*        | Acquisition                Agreement and Plan of Merger regarding Merger of AFRC Wyoming with                and                into AFRC Nevada (the Company) to change the Domicile of the                Company.                                                              |
| 3.1*                           | Articles                of Incorporation of Global Materials & Services, Inc. filed on January                20, 1998.                                                                                                                                                       |
| 3.2*                           | Restated                By-laws of Global Materials & Services, Inc.                                                                                                                                                                                                          |
| 3.3*                           | Qualification                of Global Materials & Services, Inc., as a Foreign Corporation in the                State of Florida.                                                                                                                                           |
| 3.4*                           | Qualification                of Global Materials & Services, Inc., as a Foreign Corporation in the                State of Louisiana.                                                                                                                                         |
| 3.5*                           | Statement                and Designation of Global Materials & Services, Inc., as a Foreign                Corporation in California.                                                                                                                                         |
| 3.6*                           | Qualification                of Global Materials & Services, Inc., as a ForeignCorporation                in the State of Colorado.                                                                                                                                           |
| 3.7*                           | Qualification                of Global Materials & Services, Inc., as a Foreign Corporation in the                State of Mississippi.                                                                                                                                       |
| 3.8*                           | Certificate                of Amendment to Articles of Incorporation of Global Materials &                Services, Inc., dated January 16, 2002.                                                                                                                             |
| 10.1                (a)*       | Letter                of Intent between Global Materials & Services, Inc., and Fabritek                Industries, LLC.                                                                                                                                                       |
| 10.1                (b)*       | Amendment                to Letter of Intent between Global Materials & Services, Inc., and                Fabritek Industries, LLC.                                                                                                                                          |
| 10.2*                          | Royalty                Agreement between Global Materials & Services, Inc., and Norman O.                Houser.                                                                                                                                                              |
| 10.3*                          | Sale,                Assignment and Assumption Agreement between American FireRetardant                Corp. and Patrick L. Brinkman with regard to thepurchase                of manufacturing rights to De-Fyre X-238.                                                          |
| 10.4                (a)*       | Merchant                Service Agreement between Global Materials & Services, Inc., and St.                Martin Bank.                                                                                                                                                      |
| 10.4                (b)*       | St.                Martin Bank $100,090 Promissory Note Dated March 11,                1997.                                                                                                                                                                                      |
| 10.4                (c)*       | Edward                E. Friloux Commercial Guaranty to St. Martin Bank re:$100,090                Promissory Note.                                                                                                                                                               |
| 10.4                (d)*       | Stephen                F. Owens Commercial Guaranty to St. Martin Bank re:$100,090                Promissory Note.                                                                                                                                                                |
| 10.4                (e)*       | Angela                M. Raidl Commercial Guaranty to St. Martin Bank re:$100,090                Promissory Note.                                                                                                                                                                 |
| 10.4                (f)*       | St.                Martin Bank $250,000 Promissory Note Dated May 21,                1998.                                                                                                                                                                                        |
| 10.4                (g)*       | St.                Martin Bank Business Loan Agreement Dated August 18,                1998.                                                                                                                                                                                      |
| 10.4                (h)*       | St.                Martin Bank $172,725.73 Promissory Note Dated August 18,1998.                                                                                                                                                                                                  |
| 10.4                (i)*       | Edward                E. Friloux Commercial Guaranty to St. Martin Bank re:$172,725.73                Promissory Note.                                                                                                                                                            |
| 10.4                (j)*       | Stephen                F. Owens Commercial Guaranty to St. Martin Bank re:$172,725.73                Promissory Note.                                                                                                                                                             |
| 10.4                (k)*       | Angela                M. Raidl Commercial Guaranty to St. Martin Bank re:$172,725.73                Promissory Note.                                                                                                                                                              |
| 10.4                (l)*       | St.                Martin Bank Commercial Pledge Agreement re: $172,725.72 Promissory                Note.                                                                                                                                                                        |
| 10.4(m)*                       | St.                Martin Bank Pledge of Collateral Mortgage Note re:$172,725.72                Promissory Note.                                                                                                                                                                  |
| 10.4                (n)*       | St.                Martin Bank Agreement to Provide Insurance re: $172,725.72Promissory                Note.                                                                                                                                                                      |
| 10.4                (o)*       | St.                Martin Bank - Collateral Mortgage re: $172,725.72PromissoryNote.                                                                                                                                                                                               |
| 10.4                (p)*       | St.                Martin Bank - $54,059.29 Promissory Note dated February 4,1999.                                                                                                                                                                                                |
| 10.5                (a)*       | Private                Capital, Inc. - Purchase and Security Agreement datedApril                17, 1997.                                                                                                                                                                        |
| 10.5                (b)*       | Private                Capital, Inc. - Angela M. Raidl Continuing Guaranty &Waiver.                                                                                                                                                                                           |
| 10.5                (c)*       | Private                Capital, Inc. - Stephen F. Owens and Edward E. FrilouxContinuing                Guaranty & Waiver.                                                                                                                                                     |
| 10.6                (a)*       | Bank                of Erath $15,030 Promissory Note Dated June 16, 1997.                                                                                                                                                                                                         |
| 10.6                (b)*       | Bank                of Erath Loan Extension Agreement Dated October 20,                1998.                                                                                                                                                                                      |
| 10.7*                          | Global                Materials & Services, Inc. - El Cajon, California                IndustrialLease                                                                                                                                                                        |
| 10.8                (a)*       | Whitney                Bank - $74,400 Secured Promissory Note                                                                                                                                                                                                                     |
| 10.8                (b)*       | Whitney                Bank - Collateral Mortgage, Security Agreement andAssignment                of Leases and Rents                                                                                                                                                            |
| 10.9*                          | Global                Materials & Services, Inc. - Standard Lease for LouisianaCorporate                Apartment                                                                                                                                                             |
| 10.10*                         | Oil,                Gas & Mineral Lease with Penwell Energy Inc.                                                                                                                                                                                                              |
| 10.11(a)*                      | Whitney                National Bank - $42,888.46 Promissory Note                                                                                                                                                                                                                 |
| 10.11(b)*                      | Whitney                National Bank - Security Agreement                                                                                                                                                                                                                         |
| 10.12*                         | Presidio                Capital Consulting Agreement                                                                                                                                                                                                                              |
| 10.13*                         | Warren                Guidry Letter Promissory Note                                                                                                                                                                                                                               |
| 10.14(a)*                      | Agreement                with Richard Rosenberg                                                                                                                                                                                                                                   |
| 10.14(b)*                      | Amendment                to Agreement with Richard Rosenberg                                                                                                                                                                                                                      |
| 10.14(c)*                      | Richard                Rosenberg - $43,134.39 Promissory Note                                                                                                                                                                                                                     |
| 10.15*                         | Investment                Banking and Consulting Agreement with Capstone Partners                LLC.                                                                                                                                                                             |
| 10.16*                         | March                7, 1999 $100,000 Promissory Note.                                                                                                                                                                                                                            |
| 10.17*                         | August                25, 1999 Equipment Lease with Preferred Capital                Corporation                                                                                                                                                                                  |
| 10.18*                         | December                7, 1999 $100,000 Promissory Note with Private Capital,                Inc.                                                                                                                                                                                |
| 10.19                (*)       | Consulting                Agreement dated October 1, 2001 entered into betweenGlobal                Materials & Services, Inc. and Gregory Bartko, Esq.                                                                                                                       |
| 23.1**                         | Consent                from HJ Associates & Consultants, LLP                                                                                                                                                                                                                  |
| 31.1                           | Certification                of Raoul L. Carroll, Chief Executive Officer of Global Materials&                Services, Inc., pursuant to 18 U.S.C. §                as                adopted pursuant to Section 302 of the Sarbanes-Oxley Act of                2002. |
| 31.2                           | Certification                of Steve Owens, Chief Financial Officer of Global Materials &                Services, Inc., pursuant to 18 U.S.C. §1350,                as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of                2002.               |
| 32.1**                         | Certification                of Raoul L. Carroll, Chief Executive Officer of Global Materials&                Services, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §906                of the Sarbanes-Oxley Act of 2002.                            |
| 32.2**                         | Certification                of Stephen F. Owens, Chief Financial Officer of Global Materials&                Services, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §906                of the Sarbanes-Oxley Act of 2002.                            |

----

**SIGNATURES**

|                                        |                                                                                                                     |                                                     |
|---------------------------------------------|--------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------|
|                                        | Global                  Materials & Services, Inc.(formerly known as American Fire Retardant                  Corp.) |
|                                   |                                                                                                                |                                                |
| Date: January,                24, 2006 | By:                                                                                                            | /s/                 Raoul                J. Carroll |
|                                        | Raoul                J. Carroll                                                                                          |
|                                        | Title Chief                Executive Officer                                                                        |

**Intentionally      Left Blank**