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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549


FORM 10-QSB

|  |  |                                                                                         
|- |  | ----------------------------------------------------------------------------------------
|x |  | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
|  |  |                                                                                         
|  |  | For the Quarter ending July 31, 2003                                                    
|  |  |                                                                                         
|o |  | TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1943.     

For the Transition period from ____________________ to ________________________

Commission file number 33-24566-A

BIO-LOK INTERNATIONAL INC.

(Name of registrant in its charter)


|                                                               |  |                                  
|-------------------------------------------------------------- |  | ---------------------------------
|DELAWARE                                                       |  | 65-0317138                       
|                                                               |  |                                  
|(State or other jurisdiction of
incorporation or organization) |  | (IRS Employer
Identification No.)

|                                                |  |           
|----------------------------------------------- |  | ----------
|312 S. Military Trail, Deerfield Beach, Florida |  | 33442     
|                                                |  |           
|(Address of principal executive offices)        |  | (Zip Code)

Registrants telephone number, including area code: (954) 698-9998



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Check whether the issuer (1) has 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 o

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

Check whether the issuer has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act
after the distribution of securities under a plan confirmed by a court (1997). YES o NO o

APPLICABLE ONLY TO CORPORATE ISSUERS

As of July 31, 2003, the Registrant had 6,982,152 Common Stock shares outstanding, at a par value $.01 per share.



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TABLE OF CONTENTS



|                                                                |                                                                                               |  |  |  |  |  |  | 
|--------------------------------------------------------------- | --------------------------------------------------------------------------------------------- |  |  |  |  |  |  | 
|                                                                | PART I                                                                                       
|                                                                | Item 1. Financial Statements                                                                 
|Condensed Consolidated Statement of Operations (Unaudited)     
|Condensed Consolidated Balance Sheets                          
|Condensed Consolidated Statements of Cash Flows (Unaudited)    
|Notes to Condensed Consolidated Financial Statement (Unaudited)
|                                                                | Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
|                                                                | Item 3. Controls and Procedures                                                              
|                                                                | PART II.                                                                                     
|                                                                | Item 6. Exhibits, List and Reports on Form 8-K                                               
|SIGNATURES                                                     
|CERTIFICATION OF BRUCE L. HOLLANDER                            
|CERTIFICATION OF INGO K. KOZAK                                 
|CERTIFICATION PURSUANT SECTION 906                             
|CERTIFICATION PURSUANT SECTION 906                             



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##### Table of Contents



TABLE OF CONTENT

|           |  |                                                                                                                       |  |   
|---------- |  | --------------------------------------------------------------------------------------------------------------------- |  | --
|PART I     |  |                                                                                                                      
|           |  |                                                                                                                       |  |   
|Item 1.    |  | Financial Statements                                                                                                  |  | 3 
|           |  |                                                                                                                       |  |   
|           |  | Condensed Consolidated Statement of Operations for the three and nine
months ended July 31, 2003 and 2002 (unaudited) |  |   
|           |  |                                                                                                                       |  |   
|           |  | Condensed Consolidated Balance Sheets as of July 31, 2003 (unaudited)
and October 31, 2002                            |  |   
|           |  |                                                                                                                       |  |   
|           |  | Condensed Consolidated Statements of Cash Flows for nine months
ended July 31, 2003 and 2002 (unaudited)              |  |   
|           |  |                                                                                                                       |  |   
|           |  | Notes to Condensed Consolidated Financial Statements                                                                  |  |   
|           |  |                                                                                                                       |  |   
|Item 2.    |  | Managements Discussion and Analysis of Financial Results of Operations
and Financial Condition                       |  | 9 
|           |  |                                                                                                                       |  |   
|Item 3.    |  | Controls and Procedures                                                                                               |  | 13
|           |  |                                                                                                                       |  |   
|PART II    |  |                                                                                                                      
|           |  |                                                                                                                       |  |   
|Item 6.    |  | Exhibits, List and Reports on Form 8-K                                                                                |  | 14
|           |  |                                                                                                                       |  |   
|Signatures |  | 14                                                                                                                   



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##### Table of Contents






PART I




Item 1. Financial Statements

BIO-LOK INTERNATIONAL INC. and SUBSIDIARIES




Condensed Consolidated Statement of Operations
(Unaudited)


|                                            |                                   |   |         |                    |  |                   |          |           |  |      |           |           |  |   |           |           |  | 
|------------------------------------------- | --------------------------------- | - | ------- | ------------------ |  | ----------------- | -------- | --------- |  | ---- | --------- | --------- |  | - | --------- | --------- |  | 
|                                            |                                   |   |         | Three Months Ended |  | Nine Months Ended
|                                            |                                   |   |         | July 31,           |  | July 31,         
|                                            |                                   |   |         |                    |  |                  
|                                            |                                   |   |         | 2003               |  | 2002              |          | 2003      |  | 2002
|                                            |                                   |   |         |                    |  |                   |          |           |  |     
|Net Sales                                   |                                   | $ | 948,696 |                    |  | $                 | 793,808  |           |  | $    | 3,150,414 |           |  | $ | 2,166,426 |          
|Cost of Goods Sold                          |                                   |   | 279,276 |                    |  |                   | 413,724  |           |  |      | 969,947   |           |  |   | 743,464   |          
|                                            |                                   |   |         |                    |  |                   |          |           |  |      |           |           |  |   |           |          
|GROSS PROFIT                                |                                   |   | 669,420 |                    |  |                   | 380,084  |           |  |      | 2,180,467 |           |  |   | 1,422,962 |          
|                                            |                                   |   |         |                    |  |                   |          |           |  |      |           |           |  |   |           |          
|Selling                                     |                                   |   | 269,069 |                    |  |                   | 306,138  |           |  |      | 901,746   |           |  |   | 959,767   |          
|Admin. & General Exp.                       |                                   |   | 374,673 |                    |  |                   | 370,566  |           |  |      | 1,308,635 |           |  |   | 1,204,854 |          
|                                            |                                   |   |         |                    |  |                   |          |           |  |      |           |           |  |   |           |          
|                                            |                                   |   | 643,742 |                    |  |                   | 676,704  |           |  |      | 2,210,381 |           |  |   | 2,164,621 |          
|                                            |                                   |   |         |                    |  |                   |          |           |  |      |           |           |  |   |           |          
|                                           
|Operating Income                            |                                   |   | 25,678  |                    |  |                   | (296,620 | )         |  |      | (29,914   | )         |  |   | (741,659  | )        
|                                            |                                   |   |         |                    |  |                   |          |           |  |      |           |           |  |   |           |          
|                                           
|Other Income                                |                                   |   | 4,039   |                    |  |                   | -0-      |           |  |      | 4,039     |           |  |   | 18,351    |          
|Net Grant Income                            |                                   |   | 25,000  |                    |  |                   | -0-      |           |  |      | 106,439   |           |  |   | -0-       |          
|Exchange Rate gains/losses                  |                                   |   | -0-     |                    |  |                   | (2,918   | )         |  |      | -0-       |           |  |   | (2,918    | )        
|Interest Expense                            |                                   |   | (39,300 | )                  |  |                   | (25,105  | )         |  |      | (113,596  | )         |  |   | (86,757   | )        
|Other Expenses                              |                                   |   | (58,078 | )                  |  |                   | (25,250  | )         |  |      | (58,195   | )         |  |   | (77,750   | )        
|                                            |                                   |   |         |                    |  |                   |          |           |  |      |           |           |  |   |           |          
|                                            |                                   |   | (68,339 | )                  |  |                   | (53,273  | )         |  |      | (61,313   | )         |  |   | (149,074  | )        
|                                            |                                   |   |         |                    |  |                   |          |           |  |      |           |           |  |   |           |          
|                                           
|Income (Loss) before Taxes                  |                                   |   | (42,661 | )                  |  |                   | (349,893 | )         |  |      | (91,227   | )         |  |   | (890,733  | )        
|Income Taxes                                |                                   |   | -0-     |                    |  |                   | -0-      |           |  |      | -0-       |           |  |   | -0-       |          
|                                            |                                   |   |         |                    |  |                   |          |           |  |      |           |           |  |   |           |          
|NET INCOME (LOSS)                           |                                   | $ | (42,661 | )                  |  | $                 | (349,893 | )         |  | $    | (91,227   | )         |  | $ | (890,733  | )        
|                                            |                                   |   |         |                    |  |                   |          |           |  |      |           |           |  |   |           |          
|Net Income Available to
Common Share Owners |                                   | $ | -0-     |                    |  | $                 | -0-      |           |  | $    | -0-       |           |  | $ | -0-       |          
|                                            |                                   |   |         |                    |  |                   |          |           |  |      |           |           |  |   |           |          
|                                           
|Net Income (Loss) per Common Share          |                                   | $ | (.01    | )                  |  | $                 | (.05     | )         |  | $    | (.01      | )         |  | $ | (.14      | )        
|                                            |                                   |   |         |                    |  |                   |          |           |  |      |           |           |  |   |           |          
|                                           
|Dividends per Common Share                  |                                   | $ | -0-     |                    |  | $                 | -0-      |           |  | $    | -0-       |           |  | $ | -0-       |          
|                                            |                                   |   |         |                    |  |                   |          |           |  |      |           |           |  |   |           |          
|                                           
|                                            | Average Common Shares
Outstanding |   |         | 6,888,065          |  |                   |          | 6,667,144 |  |      |           | 6,747,606 |  |   |           | 6,445,873 | 

See Notes to Condensed Consolidated Financial Statements.

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##### Table of Contents



BIO-LOK INTERNATIONAL INC. and SUBSIDIARIES




Condensed Consolidated Balance Sheets


| |                             |                                                                                                   |                                     |           |             |           |             |           |           |           | 
| | --------------------------- | ------------------------------------------------------------------------------------------------- | ----------------------------------- | --------- | ----------- | --------- | ----------- | --------- | --------- | --------- | 
| |                             |                                                                                                   |                                     |           | July 31,    |           | October 31,
| |                             |                                                                                                   |                                     |           | 2003        |           | 2002*      
| |                             |                                                                                                   |                                     |           |             |           |            
| |                             |                                                                                                   |                                     |           | (unaudited) |           |             |           |          
| | ASSETS                      |                                                                                                   |                                     |           |             |           |             |           |          
| | Current Assets              |                                                                                                   |                                     |           |             |           |             |           |          
| |                             |                                                                                                   | Cash                                |           | $           | 133,071   |             |           | $         | 23,500    | 
| |                             |                                                                                                   | Accounts Receivable, net            |           |             | 770,780   |             |           |           | 767,450   | 
| |                             |                                                                                                   | Inventory                           |           |             | 1,791,337 |             |           |           | 1,677,839 | 
| |                             |                                                                                                   | Other Current Assets                |           |             | 98,810    |             |           |           | 41,475    | 
| |                             |                                                                                                   |                                     |           |             |           |             |          
| | Total Current Assets        |                                                                                                   |                                     | 2,793,998 |             |           |             | 2,510,264 |          
| |                             |                                                                                                   |                                     |           |             |           |             |          
|
| | Net Machinery & Equipment   |                                                                                                   |                                     | 1,152,071 |             |           |             | 1,233,934 |          
| |                             |                                                                                                   |                                     |           |             |           |             |          
| |                             |                                                                                                   |                                     |           |             |           |             |          
| | Other Assets                |                                                                                                   |                                     |           |             |           |             |           |          
| |                             |                                                                                                   | Patents & related costs, net        |           |             | 95,641    |             |           |           | 45,960    | 
| |                             |                                                                                                   | Accounts Rec                        |           |             | -0-       |             |           |           | 40,455    | 
| |                             |                                                                                                   | Inventory                           |           |             | 128,023   |             |           |           | 241,094   | 
| |                             |                                                                                                   | Other Assets and Deposits           |           |             | 16,111    |             |           |           | 18,402    | 
| |                             |                                                                                                   |                                     |           |             |           |             |          
| |                             |                                                                                                   | 239,775                             |           |             |           | 345,911     |          
| |                             |                                                                                                   |                                     |           |             |           |             |          
| | TOTAL ASSETS                |                                                                                                   | $                                   | 4,185,844 |             |           | $           | 4,090,109 |          
| |                             |                                                                                                   |                                     |           |             |           |             |          
| |                             |                                                                                                   |                                     |           |             |           |             |          
| | LIABILITIES & EQUITY        |                                                                                                   |                                     |           |             |           |             |           |          
| | Current Liabilities         |                                                                                                   |                                     |           |             |           |             |           |          
| |                             |                                                                                                   | Revolving Loan payable              |           | $           | 1,626,704 |             |           | $         | 1,250,000 | 
| |                             |                                                                                                   | Notes & Loans payable  current     |           |             | 272,016   |             |           |           | 346,007   | 
| |                             |                                                                                                   | Capital lease  current             |           |             | 64,318    |             |           |           | 62,199    | 
| |                             |                                                                                                   | Accounts Payable                    |           |             | 106,970   |             |           |           | 214,966   | 
| |                             |                                                                                                   | Accrued expenses and other
Payables |           |             | 250,986   |             |           |           | 238,419   | 
| |                             |                                                                                                   | Due to stockholders                 |           |             | 4,294     |             |           |           | 10,193    | 
| |                             |                                                                                                   |                                     |           |             |           |             |          
| | Total Current Liabilities   |                                                                                                   |                                     | 2,325,288 |             |           |             | 2,121,784 |          
| |                             |                                                                                                   |                                     |           |             |           |             |          
| |                             |                                                                                                   |                                     |           |             |           |             |          
| | Long-Term Liabilities       |                                                                                                   |                                     |           |             |           |             |           |          
| |                             |                                                                                                   | Notes & Loans payable-noncurrent    |           |             | 193,750   |             |           |           | 231,250   | 
| |                             |                                                                                                   | Capital leases - noncurrent         |           |             | 64,720    |             |           |           | 113,600   | 
| |                             |                                                                                                   |                                     |           |             |           |             |          
| | Total Long-Term Liabilities |                                                                                                   |                                     | 258,470   |             |           |             | 344,850   |          
| |                             |                                                                                                   |                                     |           |             |           |             |          
| | Total Liabilities           |                                                                                                   |                                     | 2,583,758 |             |           |             | 2,466,634 |          
| |                             |                                                                                                   |                                     |           |             |           |             |          
| |                             |                                                                                                   |                                     |           |             |           |             |          
| | STOCKHOLDERS EQUITY        |                                                                                                   |                                     |           |             |           |             |           |          
| |                             | Preferred Stock  authorized
500,000 par value $.75;                                              |                                     |           | -0-         |           |             |           | -0-       |          
| |                             | Common Stock  authorized
20,000,000, par value $.01;
outstanding 6,761,152 and
6,663,152 shares; |                                     |           | 69,822      |           |             |           | 66,632    |          
| |                             | Treasury Stock (17,327 common
shares)                                                             |                                     |           | (7,277      | )         |             |           | (7,277    | )        
| |                             | Paid-in Capital                                                                                   |                                     |           | 2,446,978   |           |             |           | 2,380,330 |          
| |                             | Retained Earnings                                                                                 |                                     |           | (907,437    | )         |             |           | (816,210  | )        
| |                             |                                                                                                   |                                     |           |             |           |             |          
| | Total Equity                |                                                                                                   |                                     | 1,602,086 |             |           |             | 1,623,475 |          
| |                             |                                                                                                   |                                     |           |             |           |             |          
| |                             |                                                                                                   |                                     |           |             |           |             |          
| | TOTAL LIABILITIES & EQUITY  |                                                                                                   | $                                   | 4,185,844 |             |           | $           | 4,090,109 |          
| |                             |                                                                                                   |                                     |           |             |           |             |          



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|* |  | The balance sheet at October 31, 2002, has been derived from the audited
financial statements at that date but do not include all of the information
and footnotes required by generally accepted accounting principals for
complete financial statements.
|- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

See Notes to Condensed Consolidated Financial Statements.

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BIO-LOK INTERNATIONAL INC. and SUBSIDIARIES




Condensed Consolidated Statements of Cash Flows
(Unaudited)


| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |        |            |   |          |  
| | ------------------------------------------------- | --------------------------------------------------- | -------------------------------------------------------------------------------------------------- | ----------------------------------------------- | -------- | ----------------- | ------- | ------ | ---------- | - | -------- | -
| |                                                   |                                                     |                                                                                                    |                                                 |          | Nine Months Ended
| |                                                   |                                                     |                                                                                                    |                                                 |          | July 31,         
| |                                                   |                                                     |                                                                                                    |                                                 |          |                  
| |                                                   |                                                     |                                                                                                    |                                                 |          | 2003              |         | 2002  
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| | OPERATING ACTIVITIES:                             |                                                     |                                                                                                    |                                                 |          |                   |         |        |           
| |                                                   | Net Income (Loss)                                   |                                                                                                    | $                                               | (91,227  | )                 |         | $      | (890,733   | )
| |                                                   |                                                     | Adjustments to reconcile net income (loss)
to net cash provided by (used in) operating
activities: |                                                 |          |                   |         |        |            |   |         
| |                                                   |                                                     |                                                                                                    | Depreciation & amortization                     |          |                   | 110,001 |        |            |   | 105,961  |  
| |                                                   |                                                     |                                                                                                    | Provision for Doubtful acct.                    |          |                   | (20,933 | )      |            |   | -0-      |  
| |                                                   |                                                     |                                                                                                    | Issuance of Common Stock for service            |          |                   | 44,910  |        |            |   | 147,625  |  
| |                                                   |                                                     |                                                                                                    | Option cost amortization                        |          |                   | 24,928  |        |            |   | -0-      |  
| |                                                   |                                                     | Change in Current assets & liabilities:                                                            |                                                 |          |                   |         |        |            |   |         
| |                                                   |                                                     |                                                                                                    | (Incr.) decr. in accts. rec                     |          |                   | 58,058  |        |            |   | (54,387  | )
| |                                                   |                                                     |                                                                                                    | (Incr.) decr. in inventories                    |          |                   | (428    | )      |            |   | (350,074 | )
| |                                                   |                                                     |                                                                                                    | (Incr.) decr. in prepaid & other
current assets |          |                   | (57,335 | )      |            |   | (33,970  | )
| |                                                   |                                                     |                                                                                                    | (Incr.) decr. in deposits & other assets        |          |                   | 2,291   |        |            |   | 557      |  
| |                                                   |                                                     |                                                                                                    | Incr. (decr.) in A/P & Accr. exp.               |          |                   | (95,429 | )      |            |   | 67,610   |  
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| |                                                   | Net Cash provided by (used in) Operating
Activities |                                                                                                    |                                                 | (25,164  | )                 |         |        | (1,007,411 | )
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| | INVESTING ACTIVITIES:                             |                                                     |                                                                                                    |                                                 |          |                   |         |        |           
| |                                                   | Cash received from insurance settlement             |                                                                                                    |                                                 | -0-      |                   |         |        | 338,442    |  
| |                                                   | Investment in Patents & related                     |                                                                                                    |                                                 | (53,672  | )                 |         |        | -0-        |  
| |                                                   | Property, Plant & Equipment                         |                                                                                                    |                                                 | (24,147  | )                 |         |        | (115,894   | )
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| |                                                   | Net Cash (used) by Investing Activities             |                                                                                                    |                                                 | (77,819  | )                 |         |        | 222,548    |  
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| | FINANCING ACTIVITIES:                             |                                                     |                                                                                                    |                                                 |          |                   |         |        |           
| |                                                   | Net proceeds  revolving loan                       |                                                                                                    |                                                 | 376,704  |                   |         |        | 717,122    |  
| |                                                   | Payments on capital leases                          |                                                                                                    |                                                 | (46,761  | )                 |         |        | (44,090    | )
| |                                                   | Net increase in notes payable                       |                                                                                                    |                                                 | -0-      |                   |         |        | 261,754    |  
| |                                                   | Payment of notes & loan payable                     |                                                                                                    |                                                 | (111,491 | )                 |         |        | (141,280   | )
| |                                                   | Due to related parties                              |                                                                                                    |                                                 | (5,898   | )                 |         |        | (13,885    | )
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| |                                                   | Net Cash Used for Financing Activities              |                                                                                                    |                                                 | 212,554  |                   |         |        | 779,621    |  
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| | NET INCREASE (DECREASE) IN CASH                   |                                                     | $                                                                                                  | 109,571                                         |          |                   | $       | (5,242 | )         
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| |                                                   |                                                     |                                                                                                    | Cash  Beginning of Period                      |          |                   | 23,500  |        |            |   | 55,326   |  
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| |                                                   |                                                     |                                                                                                    | Cash  End of Period                            |          | $                 | 133,071 |        |            | $ | 50,084   |  
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| |                                                   |                                                     |                                                                                                    |                                                 |          |                   |         |       
| | SUPPLEMENTAL DISCLOSURE OF CASH FLOW
INFORMATION: |                                                     |                                                                                                    |                                                 |          |                   |         |        |           
| |                                                   |                                                     |                                                                                                    | Interest Paid                                   |          | $                 | 113,596 |        |            | $ | 86,757   |  
| |                                                   |                                                     |                                                                                                    | Income Taxes Paid                               |          | $                 | -0-     |        |            | $ | -0-      |  

See Notes to Condensed Consolidated Financial Statements.

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##### Table of Contents



BIO-LOK INTERNATIONAL INC. and SUBSIDIARIES




Notes to Condensed Consolidated Financial Statement
(Unaudited)


Note A  Basis of Presentation

The financial statements represent the activities of all the
accounts of a consolidated Bio-Lok International Inc. (Bio-Lok).
The consolidated results include the activities of Orthogen
Corporation a research and development company, Micro-Lok Mexico,
Bio-Lok Chile and Bio-Lok Australia established as sales and
marketing entities. All inter-company balances and transactions
have been eliminated in consolidation.

The accompanying condensed consolidated financial statements are
unaudited and have been prepared by the Company in accordance with
the rules and regulations of the Securities and Exchange Commission
(SEC). Accordingly, certain information and footnote disclosures
usually found in financial statements prepared in accordance with
generally accepted accounting principles have been condensed or
omitted. The financial statements should be read in conjunction
with the consolidated financial statements and related notes
included in the Companys Form 10-KSB, filed with the SEC on
February 27, 2003.

The accompanying condensed consolidated financial statements reflect
all adjustments (including normal recurring adjustments) which, in
the opinion of management, are necessary to present fairly the
financial position and results of operations for the interim periods
presented. The results of operations for an interim period are not
necessarily indicative of the results of operations for a full
fiscal year.

Note B  Nature of Business

Bio-Lok is a manufacturer and distributor, both domestically and
internationally, of the Bio-Lok Precision Dental Implant System.
The line consists of a number of select implants (both screw and
cylinder), related prosthetic parts, devices, associated tools, and
irrigated drills and reamers. The Company markets its product line
domestically direct to the end user, internationally via select
distributors and majority owned entities.

Revenues are attributable to the distribution and sale of its
manufactured or purchased for resale products. Products are
distributed directly to clinicians domestically and to distributors
or related companies internationally who in- turn market and sell
the products to clinicians.

Note C  Line of Credit

On March 26, 2003, the Company executed a new revolving loan
agreement with CommerceBank, N.A., for a maximum loan amount of
$2,000,000. The Company pledged essentially all of its assets as
collateral to secure the loan arrangement. The interest rate is the
prime rate in effect plus 2.0%. To provide added security for the
loan, the Company also has obtained EximBank credit guarantees on
the Companys international receivables as invoices are issued and
assigned.

Note D  Net Income (Loss) Per Share

The Companys basic and diluted net income or loss per share amounts
have been computed by dividing the results by the weighted average
number of outstanding common shares. For the three and nine months
ended July 31, 2003 and 2002, the Company when reporting a net loss
and as such, no common share equivalents were included in the
computation of diluted net loss per share because the effect would
have been anti-dilutive.

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Note E  Segment Accounting

Statement of Financial Accounting Standards No. 131, Disclosures
about Segments of an Enterprise and Related Information, (SFAS
131) requires that a public business enterprise disclose financial
and other information about its business segments as a part of the
consolidated financial statements.

The Company has only one product line consisting of its Bio-Lok
Precision Dental Implant System, which is sold both domestically
and internationally. It is practical to report by geographic area
net sales only, which has been included within this report for the
quarter. The Company is in the process of developing expense
breakdown by geographic area for use in providing added segment
accounting.

|                |  |                    |         |                   |  |      |         |      |  |  |  |  |  |   |           |  |  |   |           | 
|--------------- |  | ------------------ | ------- | ----------------- |  | ---- | ------- | ---- |  |  |  |  |  | - | --------- |  |  | - | --------- | 
|                |  | Three Months Ended |         | Nine Months Ended
|                |  | July 31,           |         | July 31,         
|                |  |                    |         |                  
|                |  | 2003               |         | 2002              |  | 2003 |         | 2002
|                |  |                    |         |                   |  |      |         |     
|International   |  | $                  | 564,204 |                   |  | $    | 552,498 |      |  |  |  |  |  | $ | 2,238,820 |  |  | $ | 1,687,345 | 
|Domestic        |  |                    | 384,492 |                   |  |      | 223,810 |      |  |  |  |  |  |   | 911,593   |  |  |   | 459,006   | 
|                |  |                    |         |                   |  |      |         |      |  |  |  |  |  |   |           |  |  |   |           | 
|Total Net Sales |  | $                  | 948,696 |                   |  | $    | 776,308 |      |  |  |  |  |  | $ | 3,150,414 |  |  | $ | 2,146,351 | 
|                |  |                    |         |                   |  |      |         |      |  |  |  |  |  |   |           |  |  |   |           | 

Note F  Equity

In April 2003 the Company issued 98,000 shares of common stock at a
cost of $11,760. The shares where issued to Directors for 2002
services, an officer as a part of a promotion and to clinicians for
services rendered.

In June 2003 the Company issued 221,000 shares of common stock at a
cost of $33,150. 200,000 of the shares where issued to two
individuals as a part of certain targets having been achieved as
relates to the acquisition of Orthogen Corporation a wholly owned
subsidiary acquired in 2000. The balance of the shares or 21,000
where issued to clinicians for services rendered to the company.

Note G  Stock Options

The Company adopted the 2003 Stock Option Plan during its second
quarter of this year. It authorized the Company to issue 2,500,000
shares of common stock under this plan. During the third quarter
ended July 31, 2003, the Company issued added Stock Options totaling
20,000 to an employee as called for under his employment agreement.

In 2003, the Company has elected to account for all stock options
issued under this Plan in accordance with Statement of Financial
Accounting Standards No. 123, Accounting for Stock-Based
Compensation, (SFAS 123). The Company accounts for stock options
issued to consultants and employees and for other services in
accordance with SFAS 123.

The fair market value of each stock option granted was estimated on
the date of grant using the Black-Scholes Option-Pricing Model in
accordance with SFAS 123 assuming: (1) a risk-free interest rate of
5.82% to 6.0%, (2) an expected life of five to nine years, (3) an
expected volatility of 101% to 141% and (4) no expected dividends.

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A summary of the stock options issued as of July 31, 2003, is
presented below:

|                                     |                          |                                |           |                   |           |                |     |                  |     | 
|------------------------------------ | ------------------------ | ------------------------------ | --------- | ----------------- | --------- | -------------- | --- | ---------------- | --- | 
|                                     |                          |                                |           |                   |           |                |     | Weighted Average
|                                     |                          |                                |           | Number of Options |           | Exercise Price
|                                     |                          |                                |           |                   |           |               
|                                     | Stock Options            |                                |           |                   |           |                |     |                  |    
|                                     |                          | Balance at beginning of period |           |                   | 1,135,000 |                |     | $                | .34 | 
|                                     | Granted                  |                                |           | 1,822,000         |           |                |     | .13              |    
|                                     | Exercised                |                                |           |                  |           |                |     |                 |    
|                                     | Expired                  |                                |           |                  |           |                |     |                 |    
|                                     |                          |                                |           |                   |           |                |     |                 
|                                     | Balance at end of period |                                |           | 2,957,000         |           |                | $   | .22              |    
|                                     |                          |                                |           |                   |           |                |     |                 
|Options exercisable at end of
period |                          |                                | 1,135,000 |                   |           | $              | .34 |                 
|                                     |                          |                                |           |                   |           |                |     |                 

The following table summarizes information about stock options at July 31,
2003:

|                |      |               |           |                  |           |                  |      |                  |      |                |     |                  |      |  |           |  |         |   |     |   |      | 
|--------------- | ---- | ------------- | --------- | ---------------- | --------- | ---------------- | ---- | ---------------- | ---- | -------------- | --- | ---------------- | ---- |  | --------- |  | ------- | - | --- | - | ---- | 
|                |      |               |           | Number           |           | Weighted Average |      |                  |      |                |     | Number           |      |  |           | 
|                |      |               |           | Outstanding at   |           | Remaining        |      | Weighted Average |      | Exercisable at |     | Weighted Average
|Exercise Prices |      | July 31, 2003 |           | Contractual Life |           | Exercise Price   |      | July 31, 2003    |      | Exercise Price
|                |      |               |           |                  |           |                  |      |                  |      |               
|$               | .05  |               |           |                  | 70,000    |                  |      |                  | 8.69 |                |     | $                | .05  |  |           |  | 30,000  |   |     | $ | .05  | 
|                | .10  |               |           |                  | 100,000   |                  |      |                  | 4.92 |                |     |                  | .10  |  |           |  | 100,000 |   |     |   | .10  | 
|                | .12  |               |           |                  | 246,000   |                  |      |                  | 9.92 |                |     |                  | .12  |  |           |  |        |   |     |   | .12  | 
|                | .13  |               |           |                  | 1,546,000 |                  |      |                  | 9.92 |                |     |                  | .13  |  |           |  |        |   |     |   | .13  | 
|                | .25  |               |           |                  | 805,000   |                  |      |                  | 3.93 |                |     |                  | .25  |  |           |  | 805,000 |   |     |   | .25  | 
|                | .75  |               |           |                  | 100,000   |                  |      |                  | 1.79 |                |     |                  | .75  |  |           |  | 100,000 |   |     |   | .75  | 
|                | 3.00 |               |           |                  | 100,000   |                  |      |                  | 1.69 |                |     |                  | 3.00 |  |           |  | 100,000 |   |     |   | 3.00 | 
|                |      |               |           |                  |           |                  |      |                  |      |                |     |                  |      |  |           |  |         |   |     |  
|                |      | $             | 2,957,000 |                  |           |                  | 4.12 |                  |      | $              | .34 |                  |      |  | 1,135,000 |  |         | $ | .34 |  
|                |      |               |           |                  |           |                  |      |                  |      |                |     |                  |      |  |           |  |         |   |     |  

Stock Warrants. During 1998, the Company issued warrants to purchase
an aggregate of 20,000 shares of the Companys common stock to two
consultants. The warrants are exercisable between October 25, 1998
and September 30, 2003 at an exercise price of $0.10 per share. As
of July 31, 2003, none of these warrants have been exercised.

Note H  Legal Matters

The Company from time to time is a party to various legal
proceedings. In the opinion of management, none of the proceedings
are expected to have a material impact on its financial position or
results of operations.

Note I  Liquidity

During the nine months ended July 31, 2003, the Company incurred a
negative cash flow from operating activities of $25,164 and net
loss of $91,227, an improvement over same prior year period. As of
July 31, 2003 the Company had an accumulated deficit of $907,437,
positive working capital of $468,709, and positive stockholders
equity of $1,602,086. As of July 31, 2003, the Company had $133,071
in cash, $770,780 in net accounts receivable, and $1,919,361 in
inventory. The Company had accounts payable, accrued expenses and
other payables in the aggregate of $362,251, revolving loans payable
of $1,626,703, and notes and loans payable  current of $336,334 (of
which $128,330 relates to debtors that are unable to be located,
under the Chapter XI bankruptcy settlement dated February 12, 1997).
(also see MD&A section titled Liquidity and Capital Resources on
page 11)

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

CRITICAL ACCOUNTING POLICIES

Financial Reporting Release No. 60, which was recently released by
the U.S. Securities and Exchange Commission, encourages all
companies to include a discussion of critical accounting policies or
methods used in the preparation of financial statements. Our
financial statements include a summary of the significant accounting
policies and methods used in the preparation of our financial
statements.

Management believes the following critical accounting policies
affect the significant judgments and estimates used in the
preparation of the financial statements.

Revenue Recognition.Revenues are recognized at the time of shipment
of the respective merchandise. Revenues in the accompanying
financial statements for the three and nine months ended July 31,
2003 and 2002 are presented net of returns and allowances, sales
discounts, advertising and promotions. The increase in revenues for
the three and nine months ended July 31, 2003 was primarily due to
increased marketing and sales promotional efforts by the Company.

Use of Estimates.Managements discussion and analysis of financial
condition and results of operations is based upon the financial
statements having been prepared in accordance with accounting
principles generally accepted in the United States of America. The
preparation of these financial statements required management to
make estimates and judgments that affect the reported amounts of
assets, liabilities, revenues, and expenses, and related disclosure
of contingent assets and liabilities. On an ongoing basis,
management evaluates these estimates, including those related to
valuation allowance for the deferred tax asset, estimated useful
life of fixed assets and the carrying value of long-lived assets,
intangible assets and allowances for sales returns, obsolete and
slow moving inventory and reserve for customer liabilities.
Management bases these estimates on historical experience and on
various other assumptions that are believed to be reasonable under
the circumstances, the results of which form the basis for making
judgments about the carrying value of assets and liabilities that
are not readily apparent from other sources. Actual results may
differ from these estimates under different assumptions or
conditions.

RESULTS OF OPERATIONS (3 MONTHS 2003 VS 3 MONTHS 2002)

Volume.Net sales (revenues) for the quarter increased by 20% over
the comparable prior year quarter. The increase in sales is
attributable to growth of both the domestic and international
markets. The domestic market increased by 72% and the international
market by 2% over the comparable prior year quarter. The growth of
the domestic market was due to an improved sales effort.
International sales were flat due to shut-downs for summer slow
downs.

Cost of Goods Sold.Cost of goods sold decreased by 32% over the
comparable prior year quarter. Prior year period reflected product
give-away and promotional efforts implemented as the Company pushed
to develop the domestic market.

Gross Profit.Gross profit for the period increased by 76% over the
comparable prior year quarter, and gross margin percentage remained
approximately the same after adjusting for the prior year period
promotional efforts detailed above.

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Selling Expenses.Selling expenses reflect a decrease over the
comparable prior year quarter of 12%. The decrease is attributable
to no hire expenses having been incurred for the quarter over the
same prior year period and lower overall sales costs incurred.
Overall, increases are expected in the future and are primarily
attributed to increased market presence and promotional activities
instituted.

Administrative & General Expenses.Administrative and general
expenses increased by 1% over the comparable prior year quarter, but
represented a lower percent of net sales over the comparable prior
year period. These increased expenses are attributable to the
continued market development, substantial increases in insurance and
accounting costs, freight and royalty expenses as sales increase,
and marketing and advertising literature development.

Operating Income.Results from operations totaled $25,678 compared to
a loss of $296,620 for the same prior year quarter or an improvement
of 109%. The improved results are a direct result of increased
revenues and cost controls in place.

Other Income/Expenses.Overall other income and expenses increased to
a loss of $68,340 from a loss of $53,273 for the comparable prior
year period. The cost increase is due to stock costs having been
incurred and the amortization of option expenses. Net grant
activity for the quarter (income net of expenses) was positive, was
realized for grants received for specific research being completed,
and any gain is limited to administration costs with the remaining
funds being utilized for future costs to be incurred. Interest
expense increased by 57% over the comparable prior year quarter, and
was a result of higher debt outstanding and an increase in the
revolving debt charged.

Net Loss.Net loss for the quarter was $42,661 compared to a loss of
$349,893 for the comparable prior year quarter or an 88%
improvement. The improved results are due to the continued gain in
sales and expense controls in place.

RESULTS OF OPERATION (9 MONTHS 2003 VS 9 MONTHS 2002)

Volume.Net sales (revenues) for the nine months ending July 31,
2003, increased by 45% over the comparable prior year period. The
increase in sales is attributable to growth of both the domestic and
international markets. The domestic market increased by 99% and the
international market by 33% over the comparable periods. The growth
reflects improved market penetration in all areas generated from an
expanded product base and improved sales effort.

Cost of Goods Sold.Cost of goods sold for the nine months increased
by 30% over the comparable prior year period. The resulting
increase is due to increased sales in 2003. Increased sales
resulted in increased production and in turn a reduction in the cost
of goods to net sales; the percent of cost of goods was reduced by 3
points or 9% from the same last year period.

Gross Profit.Gross profit for the nine month period increased by 53%
over the comparable prior year period, and the related gross margin
percentage increased from 66% to 69%. The improved results is a
direct result of sales growth achieved and related reductions in
cost of goods realized due to increased production requirements to
meet demand.

Selling Expenses.Selling expenses reflect a decrease over the
comparable prior year period of 6%. The decrease is attributable to
no hire expenses having been incurred nine months year-to-date over
the same prior year period. Overall, increases are expected in the
future and are primarily attributed to increased market presence and
promotional activities instituted.

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Administrative & General Expenses.Administrative and general
expenses increased by 9% over the comparable prior year nine month
period. The results achieved represents a lower percent of net
sales over the comparable prior year period. The increased expenses
are attributed to continued market development, substantial
increases in insurance and accounting costs, freight and royalty
expenses as sales increase, and marketing and advertising literature
development.

Operating Income.Results from operations totaled a loss of $29,914
compared to a loss of $741,659 for the same prior year period or an
improvement of 96%. The improved results achieved are a direct
result of increased revenues realized and cost controls in place.
Losses realized are mitigated as sales efforts continue to improve.
The Company anticipates to generate increased revenues as marketing
efforts and sales staff hire are implemented.

Other Income/Expenses.Overall other income and expenses decreased to
a loss of $61,313 from a loss of $149,074. Other expense has been
reduced due to limited stock costs having been incurred for
financing or outside activities for the nine month period. Net
grant activity for the period (income net of expenses) was positive,
was realized for grants received for specific research being
completed, and any gain is limited to administration costs with the
remaining funds being utilized for future costs to be incurred.
Interest expense increased by 31% over the comparable prior year
period, and the higher results was due to higher debt outstanding.

Net Loss.Net loss for the nine months was $91,227 compared to a loss
of $890,733 for the comparable prior year period or a 90%
improvement. The improved results are due to the continued gain in
sales, market penetration and expense controls in place.

LIQUIDITY and CAPITAL RESOURCES

On February 26, 2003, the Company accepted a new commitment letter
from CommerceBank NA (CB). Under the facility, CB commits to
increase its current line of credit under the revolving loan payable
to a maximum of $2,000,000 from $1,250,000. This line of credit is
an asset based line of credit to finance foreign accounts receivable
and inventory destined for export. The amount available under this
line of credit is subject to a monthly borrowing base, as defined in
the agreement. EximBank US is guaranteeing 90% of the loan.
Additionally, a revolving line of credit in the amount of $250,000
(a separate facility under the $2,000,000 line) for domestic
receivables was provided and is available as long as the credit line
on the international receivables and inventory does not exceed
1,750,000. The second line of credit provides the Company added
availability so long as the primary line is not fully utilized. The
amount available under this line of credit is subject to a monthly
borrowing base, as defined in the agreement. The interest rate for
both of these facilities will be the Wall Street Journal Prime Rate
plus two percent and is due monthly. The principal under these
lines of credit will be due on demand with an annual financial
review date of December 31. The new line provides the Company
sufficient working capital to meet its budget. Additionally, the
Company has in the short-run no need for new or added machinery and
its manufacturing capacity is sufficient to meet its objectives for
the fiscal year.

In an effort to increase sales, the Company has increased its sales
force throughout 2002. The increase in the sales force has improved
sales for the first nine months of 2003 over the comparable period
prior year by 45%. The increase in the domestic sales force has
improved sales by over 99% for the three quarters ended July 31,
2003. Additionally, due to ever changing

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economic conditions (weak US$, improved European and Asian market
conditions) the international sales realized have also improved
considerably. International sales for the three quarters ending
July 31, 2003, increased by 33%.

As reflected in the accompanying financial statements and as of July
31, 2003, the Company had an accumulative deficit of $907,437, a net
loss from operations of $29,914 and a net cash outflow from
operating activities of $25,164, an improvement over the comparable
period prior year. The improved results are positive but if not
maintained can impact the ability of the Company to continue as a
going concern. The ability of the Company to continue as a going
concern is dependent on the Companys ability to raise additional
capital and implement its business plan.

Management plans to continue its efforts to increase sales at a
comparable rate for the rest of fiscal year 2003 while maintaining
approximately the same level of selling expenses incurred during
fiscal year 2002. The increase in sales for 2002 and the first
quarter of 2003 is indicative of the Company recovering from the
fire that occurred during fiscal year 2001 that disrupted
operations. During fiscal year 2002, the Company was able to
replenish inventory destroyed in the fire to a level that has
provided the Company the ability to meet its sales demands. Since
substantially all of the Companys manufacturing equipment was
replaced with new equipment that is technologically more efficient
and has increased capacity, the Company has utilized the efficiency
and increased capacity for manufacturing by increasing its sales.

Future financing may not be available on a timely basis, in
sufficient amounts or on terms acceptable to the Company. Future
financing in the form of equity transactions may result in dilution
of equity. Any additional debt financing may contain additional
covenants.

If adequate funds are not available either through operations or
financing arrangements, the Company may be required to delay or
scale back the growth of operations and product and service
development efforts. In addition, there is no guarantee that
current financing arrangements will continue indefinitely.

The Company anticipates having adequate capital and liquidity for
the next 12 months. The Company had no material capital expenditure
commitments at July 31, 2003.

OUTLOOK

Revenues achieved for the nine months ended July 31, 2003, was below
budget by 1%. Net income objectives for the nine months ended July
31, 2003, still resulted in a net loss and was only $21k greater
than budgeted Management expects to be at break-even or be
profitable for the year. Additionally, the introduction of the
state-of-the-art Laser-Lok Implant by middle of the next quarter
is expected to dramatically increase the Companys recognition,
market presence and growth potential.

FORWARD-LOOKING STATEMENTS

Certain statements in this Form 10-QSB are forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995. Such statements imply continued financial improvement
of the Company by its management. The Company wishes to caution
readers not to place undue reliance

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on any such forward-looking statements, which speak as of the date
made, and to advise readers that various factors, including regional
and national economic conditions, substantial changes in levels of
market interest rates, credit and other risks of manufacturing,
distributing or marketing activities, and competitive and regulatory
factors could affect the Companys financial performance and could
cause the Companys actual results for future periods to differ
materially from those anticipated by any forward-looking statements.

The Company does not undertake and specifically disclaims any
obligation to update any forward-looking statements to reflect the
occurrence of anticipated or unanticipated events or circumstances
after the date of such statements.




Item 3. Controls and Procedures

The Company, with the Audit Committee, has established and in-place
procedures for (1) the receipt, retention, and treatment of
complaints received regarding accounting, internal accounting
controls, or auditing matters; and (2) the confidential, anonymous
submission by employees of concerns regarding questionable
accounting or auditing matters.

Management Assessment of Internal Controls.It is managements
responsibility to establish and maintain an adequate control
structure and procedures for financial reporting. Management
believes that its internal control structures and procedures for
financial reporting as of the end of the most recent quarter and
fiscal year are sufficient to meet all of the obligations of the
financial reporting process required of it by the Security Exchange
Act of 1934.

Disclosure Controls and Procedures.The Company maintains controls
and procedures designed to ensure that it is able to collect the
information it is required to disclose in the reports it files with
the SEC, and to process, summarize and disclose this information
within the time periods specified in the rules of the SEC. The
Chief Executive and Chief Financial Officers believe that these
procedures are effective to ensure that the Company is able to
collect, process and disclose the information it is required to
disclose in the reports it files with the SEC within the required
time periods.

Internal Controls.The Company maintains a system of internal
controls designed to provide reasonable assurance that transactions
are executed in accordance with managements general or specific
authorization and that transactions are recorded as necessary (1) to
permit preparation of financial statements in conformity with
generally accepted accounting principles, and (2) to maintain
accountability for assets; access to assets is permitted only in
accordance with managements general or specific authorization; and
the recorded accountability for assets is compared with the existing
assets at reasonable intervals and appropriate action is taken with
respect to any difference.

Since the date of the most recent evaluation of the Companys
internal controls by the Chief Executive and Chief Financial
Officers, there have been no significant changes in such controls or
in other factors that could have significantly affected those
controls, including any corrective actions with regard to
significant deficiencies and material weaknesses.

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PART II.




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

(a)  Exhibits

|          |  |                                                                                                 | 
|--------- |  | ----------------------------------------------------------------------------------------------- | 
|Exhibit # |  | Description                                                                                    
|          |  |                                                                                                
|3.1       |  | Articles of Incorporation *                                                                    
|3.2       |  | By-Laws *                                                                                      
|          |  | Amendment to By-Laws *                                                                         
|5         |  | Opinion re legality *                                                                          
|21        |  | Subsidiaries of Registrant included in the Consolidated Financial Statements of
the Issuer are:

|                             |  |               
|---------------------------- |  | --------------
|Incorporation                |  |               
|Name of entity               |  | State or Cntry
|                             |  |               
|Orthogen Corporation         |  | New Jersey    
|Micro-Lok Mexico S.A.CE C.V. |  | Mexico DF     
|Bio-Lok Chile S.A.           |  | Chile         
|Bio-Lok Intl. Pty. Inc.     |  | Australia     

|     |  |                                                             | 
|---- |  | ----------------------------------------------------------- | 
|31.1 |  | Certification of Bruce L. Hollander Section 302            
|31.2 |  | Certification of Ingo K. Kozak Section 302                 
|32.1 |  | Certification of Bruce
L. Hollander pursuant to Section 906
|32.2 |  | Certification of Ingo
K. Kozak pursuant to Section 906     

| |  |  | 
| |  |  | 



---

|* |  | Filed previously
|- |  | ----------------

(b) Reports on Form 8-K filed originally May 15, 2003, with a
revised filing issued May 20, 2003, detailing change of Accountants.

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SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the
Registrant caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.

|                         |  |                                                          
|------------------------ |  | ---------------------------------------------------------
|                         |  | BIO-LOK INTERNATIONAL INC. (Registrant)                  
|                         |  |                                                          
|                         |  |                                                          
|Date: September 12, 2003 |  | By: /s/ Bruce L. Hollander

Bruce L. Hollander, President

Pursuant to the requirements of the Securities Exchange Act of 1934,
this Report has been signed below by the following persons on behalf of
the Registrant and in the capacities and on the date indicated per the
final audit report issued by accountants.

|                                          |  |                                           |  |                         
|----------------------------------------- |  | ----------------------------------------- |  | ------------------------
|Signature                                 |  | Title                                     |  |                         
|                                          |  |                                           |  |                         
|/s/ Bruce L. Hollander

Bruce L Hollander |  | President, CEO and Director               |  | Date: September 12, 2003
|                                          |  |                                           |  |                         
|                                          |  |                                           |  |                         
|                                          |  |                                           |  |                         
|/s/ Ingo K. Kozak

Ingo K. Kozak          |  | VP  Finance, CFO, Secretary and Director |  | Date: September 12, 2003

15