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 quarterly period ended September 30, 2002

                                     OR

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

              For the transition period from ___________, 19___
              to ___________, 19___.


                       Commission File Number: 0-17204


                               INFINITY, INC.
       -----------------------------------------------------------------
       (Exact Name of Small Business Issuer as Specified in its Charter)


           Colorado                                 84-1070066
-------------------------------       ------------------------------------
(State or Other Jurisdiction of       (IRS Employer Identification Number)
Incorporation or Organization)

                            211 West 14th Street
                            Chanute, Kansas 66720
           ----------------------------------------------------------
           Address of Principal Executive Offices, Including Zip Code


                               (620) 431-6200
                ------------------------------------------------
                (Issuer's Telephone Number, Including Area Code)


                                     N/A
              -----------------------------------------------------
              (Former Name, Former Address, and Former Fiscal Year,
                         if Changed Since Last Report)

Check whether the Issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the Registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.


                      [ X ]   Yes           [   ]   No


There were 7,452,505 shares of the Registrant's Common Stock outstanding as of
October 30, 2002.



                                 INFINITY, INC.

                                  FORM 10-QSB

                                     INDEX


                                                                  Page
                                                                 Number
Part I    Financial Information

Item 1.   Financial Information:

          Consolidated Balance Sheets........................      3

          Consolidated Statements of Operations .............      4

          Consolidated Statements of Comprehensive Income
          (Loss) ............................................      6

          Consolidated Statements of Cash Flows .............      7

          Notes to Consolidated Financial Statements ........      9

Item 2.   Management's Discussion and Analysis or Plan of
          Operations ........................................     13

Item 3.   Controls and Procedures ...........................     20


Part II:  Other Information .................................     20

Signatures ..................................................     21


























                                       2


                        INFINITY, INC. AND SUBSIDIARIES
                          CONSOLIDATED BALANCE SHEETS

                                   ASSETS
<TABLE>
<CAPTION>
                                                               Sept. 30, 2002      Dec. 31, 2001
                                                               --------------      -------------
                                                                 (Unaudited)
<S>                                                            <C>                 <C>
Current assets
  Cash                                                         $  1,293,373        $    665,898
  Accounts receivable, less allowance for doubtful
   accounts of $26,015 (2002) and $10,000 (2001)                  1,539,025           1,599,883
  Stockholder advances                                              127,152                  --
  Investment securities                                             675,616             750,000
  Inventories                                                       364,721             350,216
  Prepaid expenses                                                  205,254             104,095
  Notes receivable current portion                                   14,815                  --
                                                               ------------        ------------
     Total Current Assets                                         4,219,956           3,470,092

Oil and gas properties, using full cost accounting net
 of accumulated depreciation, depletion and amortization
  Subject to amortization                                        14,853,780           4,785,955
  Not subject to amortization                                    12,168,162          12,404,906
Property and equipment, at cost, less accumulated
 depreciation and impairment                                     10,761,236          10,343,145
Intangible assets, at cost, less accumulated amortization         3,409,026           1,526,519
Notes receivable, less current portion                            1,601,656                  --
Other assets, net                                                   627,587             566,475
                                                               ------------        ------------
Total assets                                                   $ 47,641,403        $ 33,097,092
                                                               ============        ============

                             LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
 Current portion of long-term debt                             $  2,503,649        $  3,342,193
 Accounts payable                                                 1,321,715           2,591,243
 Accrued expenses                                                   799,241             391,309
                                                               ------------        ------------
     Total current liabilities                                    4,624,605           6,324,745

Long-term liabilities
 Deferred income taxes                                              508,028           1,144,028
 8% subordinated convertible notes payable                        4,343,000           6,475,000
 7% subordinated convertible notes payable                       12,540,000                  --
 Long-term debt, less current portion                             4,863,788           3,946,214
                                                               ------------        ------------
     Total liabilities                                           26,879,421          17,889,987
                                                               ------------        ------------
Stockholders' equity
 Common stock, par value $.0001, authorized 300,000,000 shares,
 issued and outstanding 7,448,505 shares; 6,515,224 shares              745                 652
 Additional paid-in-capital                                      20,204,237          13,632,999
 Retained earnings                                                  557,000           1,573,454
                                                               ------------        ------------
     Total stockholders' equity                                  20,761,982          15,207,105
                                                               ------------        ------------
Total liabilities and stockholders' equity                     $ 47,641,403        $ 33,097,092
                                                               ============        ============

The consolidated balance sheet at December 31, 2001 has been derived from the audited financial
statements at that date.

See Notes to Consolidated Financial Statements
</TABLE>
                                       3


                       INFINITY, INC. AND SUBSIDIARIES
              CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

                                              Three Months Ended Sept. 30,
                                                 2002              2001
                                              ----------        ----------

Revenues
 Oil and Gas Service Operations               $2,398,449        $3,559,127
 Oil and Gas Sales                               418,552           658,350
 Other                                             4,635             3,180
                                              ----------        ----------
Total Revenues                                 2,821,636         4,220,657
                                              ----------        ----------

Cost of sales
 Oil and Gas Service Operations                1,251,743         1,932,478
 Oil and Gas Production Expenses                 373,297           281,219
 Oil and Gas Production Taxes                     28,774            52,403
 Other                                            11,844            12,281
                                              ----------        ----------
     Total cost of sales                       1,665,658         2,278,381
                                              ----------        ----------
Gross profit                                   1,155,978         1,942,276
                                              ----------        ----------
General and Administrative Expense             1,226,994           731,480
Depreciation, Depletion and Amortization
 Expense                                         271,375           325,694
                                              ----------        ----------
     Total other operating expenses            1,498,369         1,057,174
                                              ----------        ----------
     Operating income (loss)                    (342,391)          885,102
                                              ----------        ----------
Other income (expense)
 Interest Income & Other Income                   67,191            34,781
 Interest Expense & Finance                     (202,388)         (106,182)
                                              ----------        ----------
     Total other income (expense)               (135,197)          (71,401)
                                              ----------        ----------
Net income (loss) before income taxes           (477,588)          813,701

Income tax benefit (expense)                     184,000          (278,056)
                                              ----------        ----------
     Net income (loss)                        $ (293,588)       $  535,645
                                              ----------        ----------
     Net income (loss) per common share       $    (0.04)       $     0.08
                                              ----------        ----------
     Net income (loss) per diluted common
      share                                   $    (0.04)       $     0.08
                                              ----------        ----------

Weighted Average Basic Shares Outstanding      7,431,416         6,497,322
Weighted Average Diluted Shares Outstanding    7,431,416         6,963,500

See Notes to Consolidated Financial Statements


                                      4



                       INFINITY, INC. AND SUBSIDIARIES
               CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

                                                 Nine Months Ended Sept. 30,
                                                   2002             2001
                                                 -----------    ------------
Revenues
 Oil and Gas Service Operations                  $ 5,901,636    $  9,732,248
 Oil and Gas Sales                                 1,622,274       1,137,106
 Other                                                 7,303           6,946
                                                 -----------    ------------
Total Revenues                                     7,531,213      10,876,300
                                                 -----------    ------------
Cost of sales
 Oil and Gas Service Operations                    3,258,101       5,297,793
 Oil and Gas Production Expenses                   1,127,504         566,487
 Oil and Gas Production Taxes                        144,118          56,399
 Other                                                29,280          28,328
                                                 -----------    ------------
     Total cost of sales                           4,559,003       5,949,007
                                                 -----------    ------------
Gross profit                                       2,972,210       4,927,293
                                                 -----------    ------------

General and Administrative Expense                 3,231,830       2,275,926
Depreciation, Depletion and Amortization
 Expense                                             971,439         934,839
                                                 -----------    ------------
  Total other operating expenses                   4,203,269       3,210,765
                                                 -----------    ------------
     Operating income (loss)                      (1,231,059)      1,716,528
                                                 -----------    ------------
Other income (expense)
 Interest Income & Other Income                       87,700         114,554
 Interest Expense & Finance                         (517,093)     (2,422,842)
 Gain on sales of assets and marketable
  securities                                           7,998       6,729,558
                                                 -----------    ------------
     Total other income (expense)                   (421,395)      4,421,270
                                                 -----------    ------------
Net income (loss) before income taxes             (1,652,454)      6,137,798

Income tax benefit (expense)                         636,000      (2,102,056)
                                                 -----------    ------------
     Net income (loss)                           $(1,016,454)   $  4,035,742
                                                 -----------    ------------
     Net income (loss) per common share          $     (0.14)   $       0.63
                                                 -----------    ------------
     Net income (loss) per diluted common share  $     (0.14)   $       0.61
                                                 -----------    ------------

Weighted Average Basic Shares Outstanding          7,103,359       6,422,060
Weighted Average Diluted Shares Outstanding        7,103,359       6,668,473


See Notes to Consolidated Financial Statements


                                    5



                        INFINITY, INC. AND SUBSIDIARIES
                   CONSOLIDATED STATEMENTS OF COMPREHENSIVE
                            INCOME (LOSS) (UNAUDITED)
<TABLE>
<CAPTION>

                                            Three Months              Nine Months
                                           Ended Sept. 30           Ended Sept. 30
                                      ----------------------   -------------------------
                                         2002          2001       2002           2001
                                      ---------     --------   -----------   -----------
<S>                                   <C>           <C>        <C>           <C>

Net Income (Loss)                     $(293,588)    $535,645   $(1,016,454)  $ 4,035,742

Other Comprehensive Income (loss):
 Unrealized holding gain (loss)
 On Securities, net of taxes of
 ($314,051) for the nine months:             --           --            --      (609,631)

Reclassifications, net of Deferred
 Tax expense of  $2,116,294 for
 the nine months:                            --           --            --    (4,109,370)
                                      ---------     --------   -----------   -----------
Total Other Comprehensive Loss               --           --            --    (4,719,001)
                                      ---------     --------   -----------   -----------
Comprehensive Income (Loss)           $(293,588)    $535,645   $(1,016,454)  $  (683,259)
                                      =========     ========   ===========   ===========
</TABLE>



























See Notes to Consolidated Financial Statements

                                       6




                        INFINITY, INC. AND SUBSIDIARIES
                CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
<TABLE>
<CAPTION>


                                                                 Nine Months Ended Sept. 30,
                                                                       2002             2001
                                                                    -----------    ------------
<S>                                                                 <C>            <C>
Cash flows from operating activities
 Net income (loss)                                                  $(1,016,454)   $  4,035,742
 Adjustments to reconcile net income/(loss)
   to net cash used in operating activities
    Depreciation, depletion and amortization                            964,696         915,563
    Deferred income taxes                                              (636,000)      2,102,056
    (Gain) loss on sale of assets                                        (7,998)         15,786
    Gain on sale of marketable securities                                    --      (6,588,844)
    (Increase) decrease in operating assets
      Receivables                                                       (66,294)     (1,325,783)
      Inventories                                                       (14,496)       (153,481)
      Prepaid expenses                                                 (101,159)        (38,064)
    Increase (decrease) in operating liabilities
      Accounts payable                                               (1,269,528)        709,301
      Accrued expenses                                                  450,002         (22,565)
                                                                    -----------    ------------
Net cash used in operating activities                                (1,697,231)       (350,289)
                                                                    -----------    ------------
Cash flows from investing activities
 Proceeds from sale of marketable securities                            750,000      11,993,108
 Investment in marketable securities                                   (675,616)             --
 Investment in oil and gas properties                               (10,020,797)     (6,407,913)
 Investment in other assets and intangibles                          (1,043,275)       (667,845)
 Purchase of property and equipment                                  (1,311,654)     (2,340,676)
 Payment received on notes receivable                                     3,529              --
 Proceeds from sale of oil and gas properties                           180,000              --
 Proceeds from sale of property and equipment                           160,000         246,966
                                                                    -----------    ------------
Net cash provided by/(used in) investing activities                 (11,957,813)      2,823,640
                                                                    -----------    ------------
Cash flows from financing activities
 Proceeds from notes payable                                          2,397,499              --
 Sale of subordinated notes                                          12,540,000       6,475,000
 Increase in borrowings on long-term debt                             3,821,117       1,469,110
 Proceeds from issuance of common stock                               1,663,489         129,262
 Repayment of long-term debt                                         (6,139,586)     (6,532,199)
                                                                    -----------    ------------
Net cash provided by financing activities                            14,282,519       1,541,173
                                                                    -----------    ------------
Net increase in cash                                                    627,475       4,014,524

Cash, beginning of period                                               665,898         478,932
                                                                    -----------    ------------
Cash, end of period                                                 $ 1,293,373    $  4,493,456
                                                                    ===========    ============

See Notes to Consolidated Financial Statements
</TABLE>



                                       7



<PAGE>
                       INFINITY, INC. AND SUBSIDIARIES
                CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

                                                 Nine Months Ended Sept. 30,
                                                   2002             2001
                                                 -----------    ------------

Supplemental cash flow disclosures:

Cash paid for interest, net of
 amounts capitalized                                 413,271        508,677

Non-cash transactions:
 Amortization of loan fees   Included in full
  cost pool for oil and gas properties             1,806,920        294,546

 Change in Accumulated other Comprehensive
  Income, net of Income Taxes                             --    ($1,573,026)

 Property and equipment acquired through
  capital leases or seller financed debt                  --     (1,831,605)

 Stock-based compensation for options issued
  with bridge loans recorded as loan costs         1,347,728             --

 Stock-based compensation for options issued
  with, and beneficial conversion feature on
  Senior Subordinated Notes issued                 1,386,044      2,089,209

 Conversion of 8% Subordinated Debt and
  accrued interest to common stock                 2,174,070             --

 Sale of oil and gas property in exchange
  for note receivable                              1,620,000             --






See Notes to Consolidated Financial Statements

















                                       8



                        INFINITY, INC. AND SUBSIDIARIES
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(1)  Basis of Presentation

     Summary of issuer's significant accounting policies are incorporated by
reference to Infinity's annual report on Form 10-KSB at December 31, 2001.

     The accompanying unaudited consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for
interim financial information.  Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting principles
for complete financial statements.  In the opinion of management, all
adjustments (consisting of normal recurring accruals) considered necessary for
a fair presentation have been included.  Operating results for the three-month
and nine month periods ended September 30, 2002 are not necessarily indicative
of the results that may be expected for the year ending December 31, 2002.

(2)  Stockholders Advances

     As of September 30, 2002 the Company had outstanding advances to Officers
of the Company of $127,152.  Subsequent to September 30, 2002 the Company
received repayment of $20,000 on the advances.

(3)  Goodwill

     Effective January 1, 2002, Infinity adopted Financial Accounting Standard
No. 142 (SFAS No. 142)   "Goodwill and other Intangible Assets".  As a result,
Infinity will no longer amortize goodwill, but will instead, review goodwill
for impairment annually.  The adoption of SFAS No. 142 had no effect on
Infinity's earnings at January 1, 2002.

(4)  Investment Securities

     CIS Oil and Gas, Inc. received 450,000 shares of common stock in
Evergreen Resources, Inc. as part of the payment for the sale of gas
production properties effective December 31, 1998.  This stock was carried on
the balance sheet as an available for sale security at its current market
value.

     As of September 30, 2001, CIS Oil and Gas, Inc. had sold all 450,000
shares of Evergreen stock for proceeds of approximately $15.4 million
resulting in pre-tax gains of approximately $7.9 million.  The gain from the
sale of 325,000 shares of the securities is reflected in Infinity, Inc.'s
Consolidated Statement of Operations for the period ended September 30, 2001.
A portion of the proceeds was used to pay off current and long-term debt.

     At December 31, 2001 Infinity, Inc. had $750,000 invested in securities.
In January 2002 Infinity liquidated its investment in the securities and used
the proceeds to continue to develop its Labarge and Pipeline coal-bed methane
prospects.  There was no material gain or loss as a result of the sale of the
securities.  At September 30, 2002 Infinity, Inc. had the remaining proceeds
from the sale of the 7% convertible notes of $675,616 invested in mutual fund
money-market accounts.  The fair market value of the securities approximated
cost at September 30, 2002.  Infinity will liquidate its short-term investment
in securities when cash is needed for the continued development of its
coal-bed methane prospects.

                                      9

(5)  Long Term Debt

     Effective June 13, 2001 Infinity, Inc. sold $6,475,000 in 8% Subordinated
Convertible Notes in a private placement in which C. E. Unterberg, Towbin
acted as the placement agent.  Interest on the notes accrues at a rate of 8%
per annum and is payable in arrears on each December 15 and June 15 commencing
December 15, 2001.  The notes are convertible to one share of common stock at
$5.00 per share and mature on June 13, 2006.  As of September 30, 2002,
$2,132,000 of the notes have been converted to 426,400 shares of common stock.
Infinity, Inc. incurred costs of $438,789 associated with the placement, which
has been capitalized and will be amortized over the term of the notes.
Infinity, Inc. also issued warrants to purchase 220,000 shares of common stock
at $6.22, the closing price of Infinity, Inc.'s common stock on the closing
date of the offering.  Proceeds from the offering were used in the development
of Infinity Oil and Gas of Wyoming, Inc.'s coal bed methane properties.

     In January 2002, Consolidated Oil Well Services, Inc. refinanced a
portion of its long-term debt.  Consolidated entered into a financing
agreement whereby it executed:

     A $2,000,000 revolving credit note cross-collateralized by
     substantially all of the assets of Consolidated with interest at
     prime plus 1.0%.  The note is due December 31, 2004 and as of
     September 30, 2002 Consolidated owed $480,417 on the revolver.

     An approximately $2,900,000 term note with interest at prime
     plus 1.0%, due in monthly installments of $80,626 plus interest,
     through December 2004.  The note is cross-collateralized by
     substantially all of the assets of Consolidated.  As of September
     30, 2002 Consolidated owed $2,202,529 on this note.

     A $1,000,000 capital expenditure line with interest at prime
     plus 1.0%, due in monthly installments of $15,000 plus interest
     through December 31, 2004 when unpaid principal and interest are
     due.  The note is cross-collateralized by substantially all the
     assets of Consolidated.  Consolidated borrowed $720,000 under
     the note and as of September 30, 2002 Consolidated owed $615,000
     on the note.

     The notes require Consolidated to comply with certain financial and
restricted covenants and are also guaranteed by an officer of Infinity, Inc.
Consolidated used a potion of the proceeds to pay off long-term debt and a
revolving credit note with $2,716,843 outstanding at December 31, 2001.

     On March 7, 2002 Infinity, Inc. issued five-year options to purchase
250,000 shares of Infinity, Inc. common stock at $7.34 per share when it
obtained $2,000,000 in 90-day bridge loans with an annual interest rate of 8%
in order to pay outstanding payables associated with the development of its
coal bed methane properties.  Infinity, Inc. capitalized loan costs of
$1,347,728 related to the fair value of the options as determined using the
Black-Scholes pricing method assuming a five year life, weighted average
risk-free interest rate of 8%, expected volatility of 89.55% and no expected
dividend yield.  The loans were paid April 24, 2002 with proceeds from the
sale of the 7% Subordinated Convertible Notes.




                                     10


     On April 22, 2002 Infinity, Inc. sold $12,540,000 in 7% Subordinated
Convertible Notes in a private placement in which C. E. Unterberg, Towbin
acted as the placement agent.  Interest on the notes accrues at a rate of 7%
per annum and is payable in arrears on each April 15 and October 15 commencing
October 15, 2002.  The notes are convertible to one share of common stock at
$8.625 per share and mature on April 15, 2007. Infinity, Inc. also issued
warrants to purchase 200,000 shares of common stock at $9.055.  A portion of
the proceeds from the offering was used to pay short-term bridge loans and
payables associated with the development of the coal bed methane properties.
The remaining proceeds will be used for additional development of the
properties.  Infinity incurred approximately $825,151 in costs associated with
the financing.  These costs were capitalized and will be amortized over the
term of the notes.

(6)  Earnings (loss) per share

     Basic earnings (loss) per share were computed by dividing income
available to common stockholders by the weighted average number of common
shares outstanding for the periods.  Diluted earnings (loss) per share reflect
the potential dilutions that could occur if convertible notes, stock options
and warrants were converted into common stock under the treasury stock method.

     At September 30, 2002, all potential common shares are anti-dilutive.

September 30, 2001
------------------
<TABLE>
<CAPTION>
                                                   Basic        Common      Earnings
                                                 Earnings       Shares      Per Share
                                                ----------     ---------    ---------
<S>                                             <C>            <C>          <C>
Year to Date Basic earnings per share:
  Nine months ending September 30, 2001:
  Income available to common stockholders       $4,035,742     6,422,060     $0.63
Plus:  Impact of assumed conversions of
  warrants and options                                  --       246,413
                                                ----------     ---------
Diluted earnings per share:
  Income available to common shareholders
   after assumed conversions of dilutive
   securities                                   $4,035,742     6,668,473     $0.61
                                                ==========     =========     =====
Quarter to Date Basic earning per share:
  Three months ending September 30, 2001:
   Income available to common stockholders      $  535,645     6,497,322     $0.08
Plus:  Impact of assumed conversions of
 warrants and options                                   --       466,178
Diluted earnings per share:                     ----------     ---------
  Income available to common shareholders
   after assumed conversions of dilutive
   securities                                   $  535,645     6,963,500     $0.08
                                                ==========     =========     =====
</TABLE>

For the period ended September 30, 2001, dilutive potential common shares of
422,422 were not included in the computation of diluted earnings per share
because their effect was anti-dilutive.


                                      11


(7)  Equity

     Stock Split
     -----------

     In May 2002, Infinity affected a 2:1 stock split in the form of a 100%
stock dividend effective May 13, 2002.  All shares and per share amounts have
been restated to give effect to the stock split.

     Stock Options
     -------------

     During the nine months ended September 30, 2002 options to purchase
335,200 shares were exercised from the 1999, 2000, and 2001 Stock Option Plans
resulting in proceeds to Infinity, Inc. of $683,903.  Options to purchase
5,000 shares were forfeited under a termination clause in the Option Plans.

     On August 16, 2001 the Infinity, Inc. board of directors approved the
grant of incentive and non-qualified options to purchase 320,000 shares of
common stock at $5.00 per share under the 2002 Stock Option Plan.  The options
granted under the 2002 Stock Option Plan were approved at the June 6, 2002
Shareholders meeting and have been issued.  Fifty percent of the options
granted under this plan vested upon approval of the Shareholders with the
remaining fifty percent vesting June 6, 2003.

     Class B Warrants
     ----------------

     Infinity, Inc. issued 163,264 shares of common stock during the nine
month period ended September 30, 2002 for $6.00 per share to the holders of
the Class B Warrants, resulting in proceeds to Infinity, Inc. of $979,586 at
June 30, 2002.  Warrants to purchase 39,158 shares of Infinity, Inc. common
stock expired unexercised on June 30, 2002.

(8)  Sale of Kansas Oil and Gas Properties

     Effective May 1, 2002 Infinity Oil and Gas of Kansas, Inc. sold its
interest in oil and gas properties in eastern Kansas for $180,000 cash and a
$1,620,000 note receivable.  The note bears interest at 7.7%, requires
quarterly payments of $35,000, including interest and is due on August 1,
2005.  The transaction resulted in a gain of approximately $244,000, which is
recorded as a reduction in capitalized oil and gas property costs under the
full cost accounting method.

(9)  Recently Issued Accounting Pronouncements

     In August 2001, the FASB issued SFAS No. 143, Accounting for Asset
Requirement Obligations.  SFAS No. 143 requires the fair value of a liability
for an asset retirement obligation to be recognized in the period in which it
is incurred if a reasonable estimate of fair value can be made.  The
associated asset retirement costs are capitalized as part of the carrying
amount of the long-lived asset.  SFAS No. 143 is effective January 1, 2003 for
Infinity.  Infinity believes the adoption of this statement will have no
material impact on its consolidated financial statements.




                                    12


     In October 2001, the FASB issued SFAS No. 144, Accounting for the
Impairment or Disposal of Long-Lived Assets.  SFAS 144 requires that those
long-lived assets be measured at the lower of carrying amount of fair value,
less the costs to sell, whether reported in continuing operations or in
discontinued operations.  Therefore, discontinued operations will no longer be
measured at net realizable value or include amounts for operating losses that
have not yet occurred.  Infinity adopted SFAS 144 on January 1, 2002.  The
adoption of this statement did not have a material impact on its consolidated
financial statements.

                                   ITEM 2.
           MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

                         FORWARD LOOKING STATEMENTS

     This Quarterly Report on Form 10-QSB contains forward-looking statements
(as such term is defined in the Private Securities Litigation Reform Act of
1995), and information relating to the Company that is based on beliefs of
management of the Company, as well as assumptions made by and information
currently available to management of the Company.  When used in this Report,
the words "estimate", "project", "believe", "anticipate", "intend", "expect"
and similar expressions are intended to identify forward-looking statements.
Such statements reflect the current views of the Company with respect to
future events based on currently available information and are subject to
risks and uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements.  Readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof.  The Company does not undertake any
obligation to release publicly any revisions to these forward-looking
statements to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.

                            RESULTS OF OPERATIONS

                          Quarters ended September 30

     Infinity, Inc. (Infinity) incurred a net loss after taxes of $(293,588),
or $(0.04) per diluted share, in the quarter ended September 30, 2002 compared
to net income after taxes of $535,645, or $0.08 per diluted share in the
quarter ended September 30, 2001.  Infinity experienced a $786,298 decrease in
gross profit to $1,155,978 in the quarter ended September 30, 2002 from
$1,942,276 for the quarter ended September 30, 2001.  The decrease in gross
profit during the quarter ended September 30, 2002 compared to the quarter
ended September 30, 2001 was the result of a $1,160,678, or 33% decrease in
oil field service revenue to $2,398,449 from $3,559,127. The decrease in
revenue was partially offset by a $680,735 decrease in oil field service cost
of services provided (See OIL FIELD SERVICES discussion below).  Oil field
service revenue for the quarter ended September 30, 2002 was reduced by the
elimination of $124,936 of oil field service sales that were provided to
Infinity Oil and Gas of Wyoming, Inc. (Infinity-Wyoming) by Consolidated Oil
Well Services, Inc. (Consolidated) for the development of its coal-bed methane
properties. The elimination of revenue was accompanied by the reclassification
of the costs incurred to provide the services from cost of sales to investment
in oil and gas properties. The elimination of inter-company revenue and
re-class of the costs to provide the inter-company sales resulted in a net
reduction to gross profit and the costs of oil and gas properties of $83,838.
Additionally, gross profit comparisons were affected by a $239,828 decrease in

                                      13


sales of oil and gas from $658,350 for the period ended September 30, 2001 to
$418,522 in the period ended September 30, 2002 with a corresponding increase
of $68,449 in oil and gas production costs in the 2002 quarter (See OIL AND
GAS PRODUCTION discussion below).

     Operating expenses for the quarter ended September 30, 2002 increased
$441,195 from $1,057,174 in the 2001 period to $1,498,369 in the 2002 period.
Infinity and its subsidiaries incurred approximately a $176,000 increase in
stockholder maintenance and professional fees associated with SEC filings and
investor relations and an increase in internal costs of obtaining financing.
Operating expenses for the period ended September 30, 2002 also included an
increase in insurance expense of approximately $74,000 due to an increase in
health care claims as part of Infinity's self insurance plan, an increase of
approximately $77,000 due to increased premiums for higher levels of general
liability insurance to meet contract obligations, and increased costs of
specialty coverages such as control of well insurance and replacement cost
insurance on the most valuable units in the oil field service fleet.  Payroll
expenses increased by approximately $76,000 due to an increase in the number
of employees supporting exploration and production activities and due to a
decrease in the amount of management salaries capitalized to
Infinity-Wyoming's development of its coal bed methane projects.

     Infinity recognized a deferred income tax benefit of $184,000 due to the
net operating loss generated in the quarter ended September 30, 2002 compared
to a deferred tax expense of $278,056 incurred in the period ended September
30, 2001.  Intangible drilling costs incurred during the periods ended
September 30, 2001 were reflected as a current expense for tax purposes and
offset the net income before taxes that had been recognized by Infinity and
eliminated the current tax liability that would have been incurred during the
period.  This does, however, lead to the recognition of non-cash deferred tax
expense during the period ended September 30, 2001.  The liability associated
with these deferred taxes will result in future tax payments as the properties
begin producing revenues that exceed intangible drilling costs being incurred
and operating expenses.

     OIL FIELD SERVICES:  Sales for the quarter ended September 30, 2002
continued to be sluggish when compared with the same period from a year ago
due to a decrease in activity because of lower oil and gas prices and
development issues in the Powder River Basin of Wyoming.  Consolidated
recorded sales of $2,398,449 and cost of sales of $1,251,743 for the quarter
ended September 30, 2002 compared to sales of $3,559,127 and cost of sales of
$1,932,478 for the comparable period ended September 30, 2001.  Consolidated
also provided $124,936 in eliminated inter-company sales to Infinity-Wyoming
at a cost of $41,098, which is capitalized as property development.

     While many customers in Eastern Kansas and Northeastern Oklahoma are
taking additional acreage positions and planning drilling projects, much of
the acreage has not yet made it into the developmental stage.  During the
quarter ended September 30, 2002 and subsequent to the end of the quarter,
Consolidated has submitted bids to provide cementing, acidizing and
stimulation services associated with several multiple well development
projects in Eastern Kansas and Eastern Oklahoma. If Consolidated is the
successful bidder on the contracts it will begin immediately to re-deploy its
oil field service equipment to provide the services. Equipment to be
redeployed to meet any new service obligations in other service locations
would most likely come from the Gillette facility.  Activities in the
Gillette, Wyoming facility continue to be slow while operators are addressing
regulatory and permitting issues and the restructuring of some companies
continues to slow new drilling activity.  Several operators in the Powder

                                      14


River Basin of Wyoming have halted drilling operations due to permitting
issues and many federal leases are being reviewed to ensure that the proper
environmental evaluation has been completed before drilling will continue.
Further, it is management's opinion that the lack of activity in the Gillette
area is a temporary condition and that as we move into the first two quarters
of 2003 we will see an increase in the amount of activity for that facility.
Management also believes that the addition of stimulation equipment in that
area during the last year will allow us to develop additional business that
will better utilize our facilities.  Increased competition from other service
companies, mainly small, local independents, has also been a factor that has
influenced service revenue in all of the areas in which Consolidated operates.

     OIL AND GAS PRODUCTION:  With the sale of of the Infinity Oil and Gas of
Kansas, Inc. (Infinity-Kansas) properties in May of 2002, Infinity-Kansas did
not recognize any revenue, or incur any operating expenses or production taxes
during the quarter ended September 30, 2002.  This compares to $195,742 in
revenue, $116,376 in operating expense and $1,438 in production taxes for the
period ended September 30, 2001.

     During the quarter ended September 30, 2002 Infinity-Wyoming recorded
$168,311 in revenue on the sale of 7,412 barrels of oil and $250,241 in
revenue on the sale of 175,951 MCF of natural gas from its Pipeline and
Labarge projects.  Infinity-Wyoming incurred $283,615 in lease operating
expenses, $28,774 in production taxes, and $89,682 in transportation fees to
produce oil and gas during the period ended September 30, 2002.  This equates
to a per MCF equivalent of approximately $1.82 in lifting costs.  Production
costs continue to be high for the Labarge project on an MCFE basis due to
compressor constraints.  The ability to move additional volumes of gas through
the compression and pipeline facilities servicing the Labarge project should
require minimal additional lifting costs on the part of Infinity-Wyoming thus
helping to lower Infinity-Wyoming's per MCFE lifting costs.  A larger
compressor was installed and put on line subsequent to the end of the quarter.
Infinity-Wyoming also incurred $141,391 in general and administrative costs
and $29,361 in depletion expense or approximately $0.77 per MCF equivalent for
the period.  Infinity-Wyoming recorded $462,608 of revenue from the sale of
17,376 barrels of oil and 24,875 MCF of gas from its coal bed methane
properties, incurred $164,843 operating costs and $50,965 in production taxes
in the period ended September 30, 2001.

     Infinity-Wyoming now has 4 Lance formation wells, 4 Almond formation
wells and 1 disposal well operating in section 1 of the Pipeline project.
Infinity-Wyoming has also drilled 8 additional Almond formation wells and one
disposal well in sections 12 and 13 on the Pipeline project and has completed
4 of the wells for production in section 13.

     Infinity-Wyoming has also completed 5 producing wells, a water disposal
well and a water monitoring well on the Labarge property and continues to
dewater the wells and produce gas from the wells at approximately 500 MCF per
day.

     OTHER INCOME AND EXPENSES:  Other income and expense was a net expense of
$135,197 for the three months ended September 30, 2002, compared to a net
expense of $71,401 for the three months ended September 30, 2001.  The
increase in other expense was the result of an approximately $96,000 increase
in interest expense due to the financing of additions to the oil field service
fleet.  This increase in other expense due to interest was partially offset by
an increase of approximately $32,000 in interest and other income for the
period.

                                      15


                 Year to Date for periods ended September 30

     Infinity incurred a net loss after taxes of $(1,016,454), or $(0.14) per
diluted share, in the nine month period ended September 30, 2002 compared to
net income after taxes of $4,035,742, or $0.61 per diluted share in the nine
month period ended September 30, 2001.  One of the primary reasons for the
decrease was the recognition during the nine month period ended September 30,
2001 of a pre-tax gain of $6,588,844 on the sale of 325,000 shares of
Evergreen stock and a $140,714 gain on the sale of equipment.  The gain in the
period was partially offset by expense of $2,104,395 associated with the
unwinding of the financing agreements that were collateralized by the stock
sold.  The net after tax affect of the sale of the Evergreen stock and
unwinding of the related financing costs was $2,780,358 in the period ended
September 30, 2001.  The other primary reason for the decrease in net income
was the decrease in oil and gas service income as discussed below.

     Infinity experienced a $1,955,083 decrease in gross profit to $2,972,210
in the nine-month period ended September 30, 2002 from $4,927,293 for the
nine-month period ended September 30, 2001.  The decrease in gross profit
during the period ended September 30, 2002 compared to the period ended
September 30, 2001 was the result of a $3,830,612, or 39% decrease in oil
field service revenue to $5,901,636 from $9,732,248. The decrease in revenue
was partially offset by a $2,039,692, or 39%, decrease in oil field service
cost of services provided (See OIL FIELD SERVICES discussion below).  Oil
field service revenue for the nine-month period ended September 30, 2002 was
reduced by the elimination of $1,495,544 of oil field service sales that were
provided to Infinity-Wyoming by Consolidated for the development of its
coal-bed methane properties.  In conjunction with the elimination of the sales
was the reclassification of the related costs of $711,011, from cost of goods
sold to investment in oil and gas properties, with the impact of these
transactions being a reduction of $784,533 in pre-tax net income on
Consolidated.  At the same time, the gross cost of completing the wells on
Infinity-Wyoming was decreased by the $784,533 of gross profit, resulting in
capitalization of $711,011 of actual cost.  As a result, the cost to complete
the wells was at least $784,533 less than if Infinity-Wyoming would have used
a third party service provider to complete the wells.  Additionally, gross
profit comparisons were affected by a $484,038 increase in sales of oil and
gas from $1,137,106 for the period ended September 30, 2001 to $1,621,144 in
the period ended September 30, 2002 with a corresponding increase of $647,606
in oil and gas production costs and severance taxes in the 2002 period.

     Operating expenses for the nine-month period ended September 30, 2002
increased $992,504 from $3,210,765 in the 2001 period to $4,203,269 in the
2002 period. Infinity and its subsidiaries incurred approximately a $377,000
increase in stockholder maintenance and professional fees associated with SEC
filings and investor relations and an increase in internal costs of obtaining
financing.  CIS Oil and Gas had accrued legal fees for the defense of suits
that were settled in the period ended September 30, 2001 without incurring any
additional expense and therefore reversed the accrual in the nine-month period
ended September 30, 2001.  The resulting reduction in legal fees for the prior
year period leads to an increase of $76,000 in legal expenses for the current
year period compared to the same period in the prior year. Operating expenses
for the period ended September 30, 2002 also included an increase in insurance
expense of approximately $99,000 due to an increase in health care claims as
part of Infinity's self insurance plan and an increase of approximately
$187,000 due to increased premiums for higher levels of general liability

                                      16


insurance to meet contract obligations, and increased costs of specialty
coverages such as control of well insurance and replacement cost insurance on
the most valuable units in the oil field service fleet.  Other expenses
associated with the increases in the number of employees, number of facilities
operated and increases in equipment licensing resulted in an increase of
$211,000 of other operating expenses for the nine month period compared to the
prior year period.  There was also an increase in depreciation, depletion and
amortization (DD&A) expense of approximately $31,000 due to the increased
investment in assets subject to DD&A.

     During the nine-month period ended September 30, 2001 CIS Oil and Gas,
Inc. recognized a pre-tax gain of $6,588,844 on the sale of 325,000 shares of
Evergreen stock.  The gain in the period was partially offset by expense of
$2,104,395 associated with the unwinding of the financing agreements that were
collateralized by the stock sold.  The net after tax affect of the sale of the
Evergreen stock and unwinding of the related financing costs was $2,780,358 in
the period ended September 30, 2001.

     Infinity recognized a deferred income tax benefit of $636,000 due to the
net operating loss generated in the nine-month period ended September 30, 2002
compared to a deferred tax expense of $2,102,056 incurred in the period ended
September 30, 2001. Intangible drilling costs incurred during the period ended
September 30, 2001 were reflected as a current expense for tax purposes and
offset the net income before taxes that had been recognized by Infinity and
eliminated the current tax liability that would have been incurred during the
period.  This does, however, lead to the recognition of non-cash deferred tax
expense during the period ended September 30, 2001.  The liability associated
with these deferred taxes will result in future tax payments as the properties
begin producing revenues that exceed intangible drilling costs being incurred
and operating expenses.

     OIL FIELD SERVICES:  Consolidated recorded sales of $5,901,636 and cost
of sales of $3,258,101 for the nine-month period ended September 30, 2002
compared to sales of 9,732,248 and cost of sales of $5,297,793 for the
comparable period ended September 30, 2001.  Consolidated also provided
$1,495,544 in eliminated inter-company sales to Infinity-Wyoming at a cost of
$711,011, which is capitalized as property development on Infinity-Wyoming.

     While many customers in Eastern Kansas and Northeastern Oklahoma are
taking additional acreage positions and planning drilling projects, much of
the acreage has not yet made it into the developmental stage.  During the
nine-month period ended September 30, 2002 and subsequent to the end of the
period, Consolidated has submitted bids to provide cementing, acidizing and
stimulation services associated with several multiple well development
projects in Eastern Kansas and Eastern Oklahoma. If Consolidated is the
successful bidder on the contracts it will begin immediately to re-deploy its
oil field service equipment to provide the services.  Equipment to be
redeployed to meet any new service obligations in other service locations
would most likely come from the Gillette facility.  Activities in the
Gillette, Wyoming facility continue to be slow while operators are addressing
regulatory and permitting issues and the restructuring of some companies
continues to slow new drilling activity.  Several operators in the Powder
River Basin of Wyoming have halted drilling operations due to permitting
issues and many federal leases are being reviewed to ensure that the proper
environmental evaluation has been completed before drilling will continue.
Further, it is management's opinion that the lack of activity in the Gillette

                                      17


area is a temporary condition and that as we move into the first two quarters
of 2003 we will see an increase in the amount of activity for that facility.
Management also believes that the addition of stimulation equipment in that
area during the last year will allow us to develop additional business that
will better utilize our facilities.  Increased competition from other service
companies, mainly small, local independents, has also been a factor in all of
the areas in which Consolidated provides services.

     OIL AND GAS PRODUCTION:  Infinity-Kansas recorded net revenue of $184,435
from its Kansas properties, incurred operating expenses of $204,021 and
production taxes of $1,130 during the nine months ended September 30, 2002.
This compares to $631,240 in revenue and  $329,968 in operating expense and
production taxes for the period ended September 30, 2001.  Effective May 1,
2002 Infinity-Kansas sold its interest in the Owl Creek and Manson properties
to West Central Oil, LLC for cash and notes receivable.  Under the Full Cost
method of accounting for oil and gas properties Infinity and its subsidiaries
will not recognize a gain or loss on the sale of its oil and gas properties
unless the sale would have a material impact on the relationship between the
oil and gas property values and the value of the reserves associated with
those properties.  Infinity reduced its investment in the remaining oil and
gas properties by approximately $244,000 on the sale of the property.

     During the nine-month period ended September 30, 2002 Infinity-Wyoming
recorded $657,249 in revenue on the sale of 33,183 barrels of oil and $780,590
in revenue on the sale of 477,933 MCF of natural gas from its Pipeline and
Labarge projects.  Infinity-Wyoming incurred $714,307 in lease operating
expenses, $142,988 in production taxes, and $209,176 in transportation fees to
produce the oil and gas during the period ended September 30, 2002.  This
equates to a per MCF equivalent of approximately $1.58 in lifting costs.
Infinity-Wyoming also incurred $412,953 in general and administrative costs
and $155,202 in depletion expense or approximately $0.84 per MCF equivalent
for the period.   Infinity-Wyoming recorded $505,866 of revenue from the sale
of 19,241 barrels of oil and 24,875 MCF of gas from its coal bed methane
properties and incurred $292,918 in lease operating costs and production taxes
in the period ended September 30, 2001.  Infinity-Wyoming began oil sales in
June 2001 and gas sales in August of 2001 from 5 wells on its Pipeline project
and has continued production through the current quarter, resulting in the
increased production and revenue for Infinity-Wyoming.

     OTHER INCOME AND EXPENSES:  Other income and expense for the nine months
ended September 30, 2002, was a net expense of $421,395 compared to other
income of $4,421,270 for the nine months ended September 30, 2001.  The
$4,842,665 decrease in other income and expenses was primarily due to a
$6,588,844 decrease in gain from the sale of Evergreen stock and a $2,001,955
decrease in interest and financing costs related to unwinding financing
collateralized by the stock sold.  The reduction in interest and financing
costs was due to the recognition of additional financing costs associated with
the retirement of debt contracts associated with the Evergreen stock that was
sold in the period ended September 30, 2001.

                       LIQUIDITY AND CAPITAL RESOURCES

     As of September 30, 2002, the Company had a working capital deficit of
$0.4 million compared to a working capital deficit of $2.9 million at December
31, 2001.  The increase in working capital was due to the issuance of an
additional $12.5 million in subordinated notes, the refinancing of current
debt collateralized by the oil filed service fleet to long term debt and the

                                      18


exercise of Class B Warrants from which the proceeds were used to pay
$2,404,000 in current notes, reduce accounts payable and continue the
development of Infinity-Wyoming's coal bed methane properties.  Since December
31, 2001, Infinity-Wyoming has incurred costs of approximately $10 million to
continue the development of its coal bed methane properties by completing
eighteen additional wells for production and two for disposal, and drilling
four additional wells.

       Cash used in operating activities during the nine months ended
September 30, 2002, was $1.7 million compared to cash used in operating
activities of $0.4 million during the period ended September 30, 2001.  During
the period ended September 30, 2002 Infinity used $12.0 million in investing
activities by investing $10.0 million in oil and gas properties, $1.0 million
in intangibles related to the 7% Note offering costs, and $1.3 million in
property and equipment.  Infinity received proceeds of $0.4 million from the
sale of property and equipment and oil and gas properties.  During the period
ended September 30, 2001 Infinity received proceeds from the sale of
marketable securities of $12.0 million, invested $6.4 million in oil and gas
properties, invested $2.3 million in property and equipment, invested $0.7
million in intangibles and other assets and received net proceeds of $0.2
million from the sale of property and equipment.

     During the period ended September 30, 2002 Infinity borrowed $2.0 million
with which to pay outstanding payables associated with the development of the
coal bed methane properties.  Infinity obtained the bridge financing from
unrelated parties on March 7, 2002 with the principal and interest at a rate
of 8% due in 90 days.  Infinity repaid the bridge loans on April 24, 2002 with
proceeds from the sale of $12.5 million of 7% Subordinated Convertible Notes
due in 2007.  In addition to the bridge loans, Infinity also paid $0.5 million
on April 24, 2002 to settle debt that was associated with the purchase of coal
bed methane leases in the Green River Basin of Wyoming in April, 2001.  On
January 14, 2002 Consolidated secured long term financing through the
establishment of a revolving credit line for up to $2.0 million, a $2.9
million term loan, and a $1.0 million capital expenditure line.   The
revolving credit line and notes bear interest at prime plus 1% and are due
December 31, 2004.  As of September 30, 2002 Consolidated had borrowings of
$0.5 million on the revolving credit line, $2.2 million on the term loan and
$0.6 million on the capital expenditures line.  Consolidated will make monthly
payments of $80,626 plus interest and $15,000 plus interest on the term note
and capital expenditures line, respectively until December 31, 2004 at which
time the remaining principal and interest will be due.

     The revolving credit line and notes are cross collateralized by
substantially all of the assets of Consolidated, require Consolidated to
comply with certain financial and restrictive covenants and are also
guaranteed by an officer of Infinity, Inc.  Consolidated used a portion of the
proceeds to pay off long-term debt and a revolving credit note with $2,716,843
outstanding at December 31, 2001 and current payables due in the normal course
of Consolidated's business activities.  Infinity and its subsidiaries owe
approximately $4.1 million for real estate and equipment loans secured by
assets of Infinity and its subsidiaries.  These notes mature in one to
eighteen years and have current payments of approximately $47,000 per month.






                                      19


     Infinity received approximately $11.7 million (net of offering costs)
from the sale of 7% Subordinated Convertible Notes due in 2007.  Infinity also
received proceeds from the issuance of common stock of $1.7 million during the
period ended September 30, 2002.  Approximately $1.0 million of the proceeds
were from the exercise of Infinity, Inc. Class B Warrants that expired June
30, 2002.  The remaining proceeds were received from the exercise of options
to purchase 335,200 shares of stock.


     The further development of Infinity-Wyoming's leasehold through the
equipping and stimulation of the eight production and one disposal well in
sections 12 and 13 of the Pipeline project will require approximately $0.5
million during the current calendar year which will be funded from existing
cash.  Infinity-Wyoming will also require approximately $2.0 million to
complete the drilling equipping and stimulation of five additional wells it
plans to drill on fee land that was recently acquired within its Labarge
project.  Infinity expects to obtain financing through a third party in order
to complete the drilling of the Labarge wells.

     Revenues generated from oil field service activities and increasing oil
and gas production should be sufficient to meet the operating needs and debt
service requirements of Infinity, Inc. and its subsidiaries through the
remainder of this calendar year and through calendar year 2003.  Management
believes that operating activities should begin providing additional working
capital to be used for the continued development of  Infinity-Wyoming's
coal-bed methane properties during 2003.  However, Infinity will need to
obtain financing during the fourth quarter of the current year to complete the
development of the additional five wells it is drilling at Labarge.
Management expects to arrange financing through a short-term bridge loan or a
conventional loan secured by its coal bed methane properties by November 30,
2002 to meet the remaining 2002 capital needs.  In addition to the working
capital provided from operations, Infinity believes that it will require
additional funding for the development of its coal-bed methane properties of
approximately $14.4 million during the year ending December 31, 2003.
Infinity is evaluating several methods of obtaining financing and management
believes that it will be able to complete financing during the fourth quarter
of the current year or first quarter of 2003 to fulfill its needs.  The
ability of Infinity to obtain financing with acceptable terms will determine
the time frame under which it will continue to develop its properties during
2003.

     In view of Infinity's current cash position, financing activities, and
projected cash flow, management believes that Infinity has the financial
resources or can obtain financial resources to maintain its planned level of
operations for the next twelve months, even if Infinity continues to incur
operating losses, negative cash flow and capital expenditures during that
period.










                                      20




                                   ITEM 3.

                           CONTROLS AND PROCEDURES

     Infinity, under the supervision of the chief executive officer and chief
financial officer, has conducted an evaluation of the effectiveness of the
design and operation of Infinity's disclosure controls and procedures within
90 days of the filing date of this quarterly report.  Based upon the results
of this evaluation, Infinity believes that they maintain proper procedures for
gathering, analyzing and disclosing all information in a timely fashion that
is required to be disclosed in its Exchange Act reports.  There have been no
significant changes in the Infinity's controls subsequent to the evaluation
date.

                          PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

     Not Applicable

Item 2.  Changes in Securities

     None

Item 3. Defaults Upon Senior Securities

     Not Applicable

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

     None

Item 5. Other Information

     None

Item 6.  Exhibits and Reports on Form 8-K

     (a)   Exhibits.  None

     (b)   Reports on Form 8-K.  No reports on Form 8-K were filed during this
period.

















                                      21


                                 SIGNATURES

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

                                   INFINITY, INC.


Dated:  November 12, 2002          By:/s/ Stanton E. Ross
                                      Stanton E. Ross, President


Dated:  November 12, 2002          By:/s/ Jon D. Klugh
                                      Jon D. Klugh, Chief Financial Officer


                               CERTIFICATIONS

     I, Stanton E. Ross, Chief Executive Officer, certify that:

     1. I have reviewed this quarterly report on Form 10-QSB of Infinity,
Inc.;

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

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

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

        a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities,
particularly during the period in which this quarterly report is being
prepared;

        b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and

        c) presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our
evaluation as of the Evaluation Date;

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


                                      22


        a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have  identified for the
registrant's auditors any material weaknesses in internal controls; and

        b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and

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

Date:  November 12, 2002



/s/ Stanton E. Ross
Stanton E. Ross
Chief Executive Officer



     I, Jon D. Klugh, Chief Financial Officer, certify that:

     1. I have reviewed this quarterly report on Form 10-QSB of Infinity,
Inc.;

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

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

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

        a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities,
particularly during the period in which this quarterly report is being
prepared;

        b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and


                                     23


        c) presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our
evaluation as of the Evaluation Date;

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

        a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have  identified for the
registrant's auditors any material weaknesses in internal controls; and

        b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and

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


Date:  November 12, 2002



/s/ Jon D. Klugh
Jon D. Klugh
Chief Financial Officer



                 CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND
                         CHIEF FINANCIAL OFFICER OF
                               INFINITY, INC.
                     PURSUANT TO 18 U.S.C. SECTION 1350

     We certify that, to the best of our knowledge and belief, the Quarterly
Report on Form 10-QSB of Infinity, Inc. for the period ending September 30,
2002:

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

     (2) the information contained in the Report fairly presents, in all
         material respects, the financial condition and results of
         operations of Infinity, Inc.



/s/ Stanton E. Ross                      /s/ Jon D. Klugh
Stanton E. Ross                          Jon D. Klugh
Chief Executive Officer                  Chief Financial Officer
November 12, 2002                        November 12, 2002

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