<PAGE> 1

                              UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                          WASHINGTON, D.C. 20549

                               FORM 10-QSB


(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2004.

OR

[ ]TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 FOR THE TRANSITION FROM _______ TO ________.

                    COMMISSION FILE NUMBER 000-27421

                   EMERGENCY FILTRATION PRODUCTS, INC.
          ------------------------------------------------------
          (Exact name of registrant as specified in its charter)

              NEVADA                              87-0561647
   --------------------------------           -------------------
   (State or other jurisdiction of             (I.R.S. Employer
    incorporation or organization)            Identification No.)

    175 Cassia Way, Suite A115
           Henderson, Nevada                        89014
----------------------------------------          ---------
(Address of principal executive offices)          (Zip code)

Issuer's telephone number: (702) 558-5164

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.  Yes [X]    No [ ]

State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date:

At June 30, 2004, there were outstanding 27,800,317 shares of the Registrant's
Common Stock, $.001 par value.

Transitional Small Business Disclosure Format: Yes [ ]   No [X]

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PART I

                             FINANCIAL INFORMATION

                                  Item 1.

TABLE OF CONTENTS
                                                                 Page
                                                                 ----
Part I Financial Information

Item 1. Financial Statements

Balance Sheets
June 30, 2004 (Unaudited) and December 31, 2003..............       3

Statements of Operations (Unaudited)for the three months and
 six months ended June 30, 2004 and 2003.....................       4

Statements of Cash Flows (Unaudited)for the six months ended
 June 30, 2004 and 2003 .....................................       5

Notes to the Financial Statements............................       6

Item 2. Management's Discussion and Analysis of Financial
        Condition and Results of Operations...................      9

Item 3. Controls and Procedures...............................     14

Part II Other Information

Item 1. Legal Proceedings.....................................     14

Item 2. Change in Securities..................................     14

Item 3. Defaults by the Company on its
        Senior Securities ....................................     14

Item 4. Submission of Matter to a Vote
        Of Security Holders ..................................     14

Item 5. Other Information .....................................    14

Item 6. Exhibits and Reports on Form 8-K.......................    15

Signatures.....................................................    15




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EMERGENCY FILTRATION PRODUCTS, INC.
Balance Sheets
June 30, 2004 and December 31, 2003
                                                    June 30,     December 31,
                                                      2004           2003
                                                   -----------   -----------
ASSETS                                             (Unaudited)
CURRENT ASSETS
 Cash and cash equivalents                        $     41,541  $    148,501
 Accounts receivable, net of an allowance for
  doubtful accounts of $8,500 and $8,000,
  respectively                                         255,602        13,374
 Prepaid expenses and other                              9,064        57,882
 Inventory                                             146,576       182,440
                                                   -----------   -----------
   Total Current Assets                                452,783       402,197
                                                   -----------   -----------
PROPERTY AND EQUIPMENT
 Molds                                                 128,800       128,650
 Furniture and office equipment                         55,281        55,220
 Machinery and equipment                                59,995        59,412
 Leasehold improvements                                      -        10,231
 Accumulated depreciation                             (165,033)     (145,372)
                                                   -----------   -----------
   Total Property and Equipment                         79,043       108,141
                                                   -----------   -----------
OTHER ASSETS
 Patents and acquired technology, net of
  accumulated amortization of $106,770 and
  $71,193, respectively                                963,017       998,594
 Other                                                   4,947        11,730
                                                   -----------   -----------
   Total Other Assets                                  967,964     1,010,324
                                                   -----------   -----------
TOTAL ASSETS                                      $  1,499,790   $ 1,520,662
                                                   ===========   ===========
LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
 Accounts payable - unrelated parties             $    280,498  $     53,484
 Accounts payable - related parties                    315,987       213,707
 Accrued expenses                                      119,612        91,832
 Notes payable                                           3,000        35,880
                                                   -----------   -----------
   Total Current Liabilities                           719,097       394,903
                                                   -----------   -----------
COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY
 Common stock, par value $0.001; authorized
  50,000,000 shares; 27,800,317 and 27,265,517
  shares issued and outstanding, respectively           27,800        27,266
 Additional paid in capital                          9,437,423     9,269,414
 Accumulated other comprehensive income                  3,333         1,860
 Deficit                                            (8,687,863)   (8,172,781)
                                                   -----------   -----------
   Total Stockholders' Equity                          780,693     1,125,759
                                                   -----------   -----------
TOTAL LIABILITIES AND STOCKHOLDERS'
 EQUITY                                           $  1,499,790  $  1,520,662
                                                   ===========   ===========

The accompanying notes are an integral part of these financial statements.

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EMERGENCY FILTRATION PRODUCTS, INC.
Statements of Operations
For the Three Months and Six Months Ended June 30, 2004 and 2003
(Unaudited)

                      For the Three Months Ended   For the Six Months Ended
                                June 30,                    June 30,
                           2004          2003          2004           2003
                       -----------   -----------   -----------   -----------
NET SALES             $     64,410  $    271,502  $    325,171  $    372,458

EXPENSES
 Cost of sales              32,024       178,823       214,803       242,924
 Depreciation and
  amortization              27,912        25,303        56,984        34,225
 Research and
  development                    -         2,027             -         3,771
 Selling, general
 and administrative        289,794       215,040       517,421       455,578
                       -----------   -----------   -----------   -----------
   Total Expenses          349,730       421,193       789,208       736,498
                       -----------   -----------   -----------   -----------
LOSS FROM OPERATIONS      (285,320)     (149,691)     (464,037)     (364,040)
                       -----------   -----------   -----------   -----------
OTHER INCOME(EXPENSE)
 Interest expense             (309)       (2,174)      (42,627)       (2,636)
 Loss on vacating
  lease                     (8,418)            -        (8,418)            -
                       -----------   -----------   -----------   -----------
   Total Other
    Income(Expense)         (8,727)       (2,174)      (51,045)       (2,636)
                       -----------   -----------   -----------   -----------
NET LOSS              $   (294,047) $   (151,865) $   (515,082) $   (366,676)
                       ===========   ===========   ===========   ===========
BASIC AND DILUTED
 LOSS PER SHARE       $      (0.01) $      (0.01) $      (0.02) $      (0.02)
                       ===========   ===========   ===========   ===========
WEIGHTED AVERAGE
 NUMBER OF COMMON
 SHARES OUTSTANDING     27,479,472    24,513,947    27,372,494    21,147,327
                       ===========   ===========   ===========   ===========







The accompanying notes are an integral part of these financial statements.


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EMERGENCY FILTRATION PRODUCTS, INC.
Statements of Cash Flows
For the Six Months Ended June 30, 2004 and 2003
(Unaudited)
                                                     2004           2003
                                                 ------------   ------------
CASH FLOWS FROM OPERATING ACTIVITIES:
 Net loss                                       $    (515,082) $    (366,676)
 Adjustments to reconcile net loss to net
  cash (used in) operating activities:
  Depreciation                                         21,407         14,941
  Amortization of patent costs                         35,577         19,284
  Bad debt expense                                        500            233
  Common stock issued for services                          -        187,720
 Changes in operating assets and liabilities:
  Accounts receivable                                (242,728)      (156,661)
  Prepaid expenses and other                           48,818        (26,825)
  Inventory                                            35,864        (51,912)
  Deposits                                              6,783         (4,825)
  Accounts payable and accounts payable
   - related parties                                  336,986        143,568
  Accrued expenses                                     27,779              -
                                                 ------------   ------------
   Net Cash Used In Operating Activities             (244,096)      (241,153)
                                                 ------------   ------------
CASH FLOWS FROM INVESTING ACTIVITIES:
 Acquisition of property and equipment                      -        (67,941)
 Patent and technology costs                                -       (132,979)
                                                 ------------   ------------
   Net Cash Used In Investing Activities                    -       (200,920)
                                                 ------------   ------------
CASH FLOWS FROM FINANCING ACTIVITIES:
 Proceeds from stock issuances                        168,543      1,182,324
 Stock offering costs                                       -       (170,350)
 Repayments of advances from shareholders                   -       (275,070)
 Payment on notes payable                             (32,880)       (21,022)
                                                 ------------   ------------
   Net Cash Provided by Financing Activities          135,663        715,882
                                                 ------------   ------------
EFFECT OF EXCHANGE RATE CHANGES ON CASH
 AND CASH EQUIVALENTS                                   1,473              -
                                                 ------------   ------------
NET INCREASE (DECREASE) IN CASH
 AND CASH EQUIVALENTS                                (106,960)       273,809

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD      148,501         21,424
                                                 ------------   ------------
CASH AND CASH EQUIVALENTS AT END OF PERIOD      $      41,541  $     295,233
                                                 ============   ============





The accompanying notes are an integral part of these financial statements.

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EMERGENCY FILTRATION PRODUCTS, INC.
Notes to the Financial Statements
June 30, 2004 and December 31, 2003

NOTE 1 - BASIS OF PRESENTATION

The interim financial information included herein is unaudited and has been
prepared consistent with generally accepted accounting principles for interim
financial information and with the instructions to Form 10-QSB and Item 310(b)
of Regulation S-B.  Accordingly, these financial statements do not include all
information and footnotes required by generally accepted accounting principles
for complete financial statements.  These statements should be read in
conjunction with the audited financial statements and notes thereto included
in the Company's annual report on Form 10-KSB for the year ended December 31,
2003, from which the balance sheet information as of that date is derived.  In
the opinion of management, these financial statements contain all adjustments
(consisting solely of normal recurring adjustments) which are, in the opinion
of management, necessary for a fair statement of results for the interim
period presented.

The results of operations for the three months and six months ended June 30,
2004 and 2003 are not necessarily indicative of the results to be expected for
the full year.

Certain prior period amounts have been reclassified to conform with the
current period presentation.

NOTE 2 - LOSS PER SHARE

Following is information relative to the computation of basic and diluted loss
per share for the three months and six months ended June 30, 2004 and 2003:

                                     For the Three Months Ended
                                               June 30,
                                          2004          2003
                                      -----------   -----------

Net loss                             $   (294,047) $   (151,865)
                                      ===========   ===========
Weighted average shares                27,479,472    24,513,947
                                      ===========   ===========
Basic and diluted loss per share     $      (0.01) $      (0.01)
                                      ===========   ===========

                                     For the Six Months Ended
                                               June 30,
                                          2004          2003
                                      -----------   -----------

Net loss                             $   (515,082) $   (366,676)
                                      ===========   ===========
Weighted average shares                27,372,494    21,147,327
                                      ===========   ===========
Basic and diluted loss per share     $      (0.02) $      (0.02)
                                      ===========   ===========

Weighted average shares issuable upon the exercise of stock options were not
included in the above calculations because they are antidilutive.

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EMERGENCY FILTRATION PRODUCTS, INC.
Notes to the Financial Statements
June 30, 2004 and December 31, 2003

NOTE 3 - GOING CONCERN CONTINGENCY

The Company's financial statements are prepared using generally accepted
accounting principles applicable to a going concern, which contemplates the
realization of assets and liquidation of liabilities in the normal course of
business.  The Company has incurred negative cashflow from operations and
significant losses, which have resulted in a working capital deficiency of
$266,314 and a deficit of $8,687,863 at June 30, 2004.

The Company's ability to continue as a going concern may be dependent upon the
success of management's ongoing business plans which, as explained below,
include a) continued product development efforts, and b) continuing efforts to
increase its product sales in the U.S. and internationally.

It is the intent of management to seek to create additional revenues through
the development and sales of its emergency respiration equipment and its
environmental masks.  The Company is also currently anticipating raising
additional funds during the next three months through the issuance of
additional common shares in order to raise the necessary capital to sustain
operations until revenues are adequate to cover the costs.

During the six months ended June 30, 2004, the Company has been in discussions
with a large Asian multinational company, involved in chemical and related
businesses, including air filtration, that has shown interest in a possible
distribution agreement for the Company's air filter products and technologies
in Japan.

The Company has also recently applied for participation in a Navy-funded
technology transfer project which encompasses filter technology, and has
recently been notified that the application has advanced to the final stages
of completion and evaluation.  If selected and approved, the Company will
build two filter product prototypes, both of which will employ the Company's
patented filter technology.

The Company also plans on beginning testing of its licensed nanotechnology-
enhanced filter media in conjunction with the U.S. Air Force during August
2004.

Management can offer no assurance with respect to its ability to create
additional revenues, obtain additional equity financing or execute its
long-term business plans.  The accompanying financial statements do not
include any adjustments relating to the recoverability and classification of
asset carrying amounts or the amount and classification of liabilities that
might result from the outcome of this uncertainty.

NOTE 4 - STOCK TRANSACTIONS

During the six months ended June 30, 2004, the Company issued 534,800 shares
of common stock through the exercise of common stock warrants at prices
ranging from $0.25 to $0.50 per share, for total proceeds of $168,543.


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EMERGENCY FILTRATION PRODUCTS, INC.
Notes to the Financial Statements
June 30, 2004 and December 31, 2003

NOTE 4 - STOCK TRANSACTIONS (Continued)

During the six months ended June 30, 2003, the Company issued the following
shares of common stock:
         - 636,000 shares valued at $0.22 per share for legal and other
           services rendered valued at $128,920 and in payment of accounts
           payable totaling $11,000.
         - 3,250,000 shares valued at $0.26 per share issued to the President
           of the Company for certain rights, title and interest in various
           technology, patents and patent applications.
         - 400,000 shares pursuant to an exchange agreement for total proceeds
           of $42,000.
         - 93,334 shares valued at $0.63 per share for legal and other
           services rendered valued at $58,800.

Also during the six months ended June 30, 2003, the Company entered into
various subscription agreements through an investment banking company to issue
common shares at $0.18 per share.  Through June 30, 2003, the Company had
raised $840,325 (net of $105,350 of stock offering costs) pursuant to these
agreements and issued a total of 4,668,483 shares of common stock.  Pursuant
to this offering, the Company also granted a total of 840,325 three-year,
noncallable warrant to purchase common stock for each dollar invested,
exercisable at $0.25 per share.  Also, as part of the agreement with the
investment banking company, the Company paid the investment banking company a
placement fee of 13% of the gross proceeds raised.  An additional 695,000 of
the above mentioned warrants were issued to the investment banking company as
a finder's fee. A total of 1,535,325 warrants were granted pursuant to these
agreements.

The Company also issued during the six months ended June 30, 2003, an
additional 750,000 shares of common stock to various accredited investors in a
separate private placement at $0.40 per share and received total proceeds of
$235,000 (net of $65,000 of stock offering costs).  Pursuant to the related
agreement, the Company granted 300,000 three-year, noncallable warrants to
purchase common stock for each dollar invested, exercisable at $0.50 per
share.  An additional 105,000 of these warrants were issued to an investment
banking company as a finder's fee. A total of 405,000 warrants were granted
pursuant to this agreement.

<PAGE>
<PAGE> 9
                                ITEM 2

Management's Discussion and Analysis of Financial Condition and Results of
Operations

Cautionary Statement Regarding Forward-looking Statements
---------------------------------------------------------
This report may contain "forward-looking" statements.  Examples of
forward-looking statements include, but are not limited to: (a) projections of
revenues, capital expenditures, growth, prospects, dividends, capital
structure and other financial matters; (b) statements of plans and objectives
of our management or Board of Directors; (c) statements of our future economic
performance; (d) statements of assumptions underlying other statements and
statements about us and our business relating to the future; and (e) any
statements using the words "anticipate," "expect," "may," "project," "intend"
or similar expressions.

Overview
--------
The Company is in the business of producing masks and filters for medical
devices designed to reduce the possibility of transmission of contagious
diseases.  The Company is also a distributor of a blood clotting device for
surgery, trauma and burn wound management.

Since its inception, the Company has been involved primarily in the
development of its technology.  During this time, revenues have not been
adequate to cover operating expenses. Without adequate revenues to offset
expenditures, the Company has reported a loss in each of its years of
existence.  To date, the Company has funded itself by way of a series of
private equity placements.  As of the end of fiscal 2003, the Company had
offset its accumulated deficit in this manner. The most valuable asset of the
Company is its intellectual property and technology.  The Company acquired the
rights to a substantial portion of its intellectual property from its
president and chief executive officer (See "Critical Accounting Policies and
Estimates," below), which property includes title to the patent on a component
of an emergency CPR assistance device, called a dual-filtered vapor isolation
valve and the rights to certain other technologies related to environmental
masks.  Rights pertaining thereto include the right to maintain, sell and
improve the devices, and to license those rights.  Although the Company
believes its technology to be very valuable in the economic sense, this value
is not quantified as such on the Company's balance sheet since the technology
is recorded at historical cost rather than fair value.

Critical Accounting Policies and Estimates
------------------------------------------
Revenue Recognition: The Company recognizes revenue for its products when the
product is shipped and title passes to the buyer.

Capitalized Patent and Technology Costs: The Company did not incur any
capitalized costs related to patents and technology during 2004.  The Company
has, however, capitalized certain costs related to patents and technology
acquired during 2003.  In determining the value of a substantial portion of
this technology acquired in 2003 from the Company's president and chief
executive officer, the members of its Board of Directors used their best
business judgment to estimate the future income potential of the acquired
technology. Although no independent valuations or market analyses were sought
by the members of the board prior to determination of the purchase price, a
determination was made through an analysis of the potential applications of
the filtration technology and the identifiable likely markets surrounding the
technology.  The consideration paid for the technology was approved by the
Board of Directors, and the President abstained from the vote.

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Amortization of the resultant asset is being recorded in accordance with SFAS
No. 142, "Goodwill and Other Intangible Assets".

Functional Currency:  For the three months and six months ended June 30, 2004,
the functional currency for our foreign division has been determined to be the
Taiwan Dollar. Any applicable assets and liabilities have been translated at
period end exchange rates and operating statement items are translated at
average exchange rates prevailing during the periods.  For the three months
ended June 30, 2004, we had an unrealized loss of $5,301 and for the six
months ended June 30, 2004, we had an unrealized gain of $1,473 as a result of
foreign currency translation adjustments.

Except as discussed above, the Company does not employ any other critical
accounting policies or estimates that are either selected from among available
alternatives or require the exercise of significant management judgment to
apply or that if changed are likely to materially affect future periods.

Results of Operations
---------------------
Six Months Ended June 30, 2004 compared with 2003
-------------------------------------------------
Revenues:  During the six months ended June 30, 2004, the Company reported a
slight decrease in revenues compared to the six month period ended June 30,
2003 of approximately 13% due to the reduction in product orders from the U.S.
military. The U.S. military had substantially increased their orders during
2003 due to international conflicts throughout the world.  Government orders,
historically, have been sporadic based upon the timing of their restocking
requirements, although there are no guarantees as to when or if the government
will continue to re-order any of the Company's products.  For the six months
ended June 30, 2004 and 2003, the approximate percentage of revenues derived
from sales to the government were 17% and 95%, respectively. In addition to
competition from other companies that may offer alternative products,
governmental orders from the military are dependent on current foreign affairs
and international conflicts and the need for emergency products in the US
military.

Revenues have typically been generated in part from the sale of the
environmental masks produced in Taipei, Taiwan.  During the six months ended
June 30, 2004 and 2003, revenues from the sale of environmental masks were
$248,440 and $0, respectively.  However, no revenues were generated from the
sale of environmental masks during the three months ended June 30, 2004.  This
is due to the fact that during the three months ended June 30, 2004, the
building in which the Company's manufacturing facility and warehouse were
located in, was sold and the Company was forced to relocate.  The Company is
currently pursuing a new location in Taipei, Taiwan for these facilities but a
location has not been secured as of the date of this report.  Sales of the
environmental masks did not begin until late 2003, thus no revenues were
recorded for the six months ended June 30, 2003.

A small amount of revenues were also generated in part from the sale of the
emergency CPR assistance device ($66,631 and $103,133 for the six months ended
June 30, 2004 and 2003, respectively).

Additionally, the Company generated revenues related to Superstat, a modified
collagen hemostat for which the Company has exclusive distribution rights to
the U.S. government and military.  Revenues related to Superstat were $10,100
and $267,325 for the six months ended June 30, 2004 and 2003, respectively.
This represents a decrease in revenues for Superstat of approximately 96% for
the six months ended June 30, 2004 compared to the six months ended June 30,
2003 due to the recent decline in government orders.

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<PAGE> 11

Cost of Sales:  During the six months ended June 30, 2004, the Company
reported a decrease in cost of sales of approximately 12% compared to the cost
of sales for the six months ended June 30, 2003.  This decrease is slightly
lower than the corresponding decrease in revenues due to the slightly lower
profit margins associated with the environmental mask sales in Taiwan that
were sold in 2004 but not 2003.  The lower margins are due to the additional
distribution fees paid to our manufacturing and distribution agent in Taiwan.
Costs as a percentage of sales were 66% and 65% for the six months ended June
30, 2004 and 2003, respectively.  The Company expects costs as a percentage of
sales to be approximately 60%-70% in the future unless significant changes
occur in the cost of materials.  The significant components of the Company's
cost of sales include actual product cost, including outsourced manufacturing
and packaging, freight and shipping, and technology royalties paid on revenues
generated.

Operating Expenses: Selling, general and administrative expenditures increased
for the six months ended June 30, 2004 as compared to the six months ended
June 30, 2003 to $517,421 from $455,578, representing an increase of
approximately 13.6%.  This increase from 2003 to 2004 was primarily due to
additional travel, salaries and wages, and other operating costs associated
with the manufacturing facility in Taiwan, as well as additional outside
legal, accounting, and other consulting services rendered during 2004.  The
Company expects operating costs will increase in the near future once
additional funding is obtained and additional marketing personnel are hired.
The significant components of our operating expenses include salaries and
wages, consulting and other professional services, product and liability
insurance and office rent.

Research and development: Although not significant for the periods presented,
the Company expects research and development costs to increase somewhat in the
near future as the Company intends to bring additional products to market
during the next twelve months.  Future research and development costs for
testing, validation and FDA filings for these potential new products are
estimated to range from $25,000 to $35,000 during the next twelve months.  An
additional $20,000 to $30,000 may also be required for the commission of molds
for these potential new products.  The significant components of the Company's
research and development costs ordinarily include prototype development and
materials, governmental filings and laboratory testing.

Liquidity and Capital Resources
-------------------------------
The Company currently does not have and is not presently able to generate
sufficient net cash inflows from operations to sustain its business efforts as
well as to accommodate its growth plans.  It is management's intent to seek to
create additional revenues through the development and sales of its emergency
respiration equipment and its environmental masks through potential
distribution agreements currently being negotiated in Taiwan and Japan.  The
Company is also currently anticipating raising additional funds during the
next three months through the issuance of additional common shares in order to
raise the necessary capital to sustain operations until revenues are adequate
to cover the costs.

<PAGE>
<PAGE> 12

The Company received funds of $168,543 during the three months ended June 30,
2004, and issued 534,800 shares of common stock through the exercise of common
stock warrants.  In addition, the Company may receive additional funds of up
to approximately $415,000 through the exercise of common stock warrants
currently outstanding.  Management believes the Company is also able to enter
into bridge loans with existing shareholders during 2004, if necessary, to
fund ongoing operations and to fund the Company's planned research and
development objectives, although no loan agreements have currently been
executed.

If funds are available, the Company intends to bring additional products to
market during the next twelve months, including the breathing circuit filters,
the ELVIS BVM bag, and the continued marketing and development of the personal
environmental masks as previously described.  The research and developments
costs associated with the ELVIS BVM device will be the most significant.

The estimated expense for testing, validation and FDA filings for ELVIS will
be approximately $25,000. The commission of molds for the ELVIS BVM bag will
require approximately $20,000 to $30,000 over the next twelve months.

If additional funds are not raised during 2004 or if revenues do not increase
sufficient to cover the Company's operating costs, the Company will not have
the funds needed to fund these research and development expenditures.

The Company's manufacturing operations in Taiwan have temporarily been
suspended.  This is due to the fact that during the three months ended June
30, 2004, the building in which the Company's manufacturing facility and
warehouse were located in, was sold and the Company was forced to relocate.
The Company is currently pursuing a new location in Taipei, Taiwan for these
facilities but a location has not been secured as of the date of this report.

The Company has accumulated a deficit of $8,687,863 as of June 30, 2004,
resulting from the continued losses since inception.  For this and other
reasons, our auditors for our most recent fiscal year ended December 31, 2003,
expressed substantial doubt in their report as to our ability to continue
operating as a going concern.

Due to the increased exposure and liability for public entities, the cost of
our liability insurance has increased substantially over the past several
years.  The Company's insurance policies cover general/product, directors and
officers, and employment practices liability.  Currently, the cost of this
insurance coverage is approximately $72,000 annually.  The Company does not
expect the cost to increase substantially, however, over the next few years.

Cash used by our operating activities for the periods ended June 30, 2004 and
2003 was funded primarily by the sale of common stock for cash and shareholder
advances.

The Company is continuing to focus on a marketing-driven sales effort of its
medical products and the environmental masks and associated filters,
particularly in the Asian markets, to increase revenues that will ultimately
cover total expenditures.

During our current fiscal year 2004, the Company expects that it will be able
to continue measures that will (i) reduce unnecessary cash outflows, (ii)
increase revenues through our improved marketing effort; and (iii) raise
working capital through the issuance of our stock for services and cash, or
other equity or debt financing.

<PAGE>
<PAGE> 13

The Company's business model is intended to be cost-efficient and emphasizes:
(1) in-house research and development;  (2) accumulation of intellectual
property assets;  (3) ownership of key production equipment; and (4)
outsourcing of all manufacturing, distribution, warehousing, and order
fulfillment. Accordingly, the Company benefits from low overhead, as well as
the pricing advantages inherent in proprietary specialty products.

The Company has recently begun to receive indications of increased interest in
its products from a number of medical product distributors and management
believes that this increased interest will lead to stronger financial
performance in the near future.

During the six months ended June 30, 2004, the Company has been in discussions
with a large Asian multinational company, Itochu Techno Chemical, Inc.
(Itochu), a wholly owned Japanese subsidiary of Itochu Corporation involved in
chemical and related businesses, including air filtration, that has shown
interest in a possible distribution agreement for the Company's medical
products in Japan.  The Company and Itochu have been engaged in a cooperative
feasibility study surrounding the introduction of the Company's air filter
products and technologies into Japan.

On February 27, 2004, the Company and Itochu filed an application with the
Japanese Koseisho (the Ministry of Health and Welfare, similar to the U.S.
Federal Drug Administration).  Upon the approval by the Japanese Koseisho,
Itochu plans on entering into a long-term distribution agreement with the
Company to distribute the Company's air filtration products in Japan and
possibly other markets.  It is currently unknown, however, when or if the
application will be approved by the Japanese Koseisho.

The Company has also recently applied for participation in a Navy-funded
technology transfer project which encompasses filter technology, and has
recently been notified that the application has advanced to the final stages
of completion and evaluation.  If selected and approved, the Company will
build two filter product prototypes, both of which will employ the Company's
patented filter technology.  These prototypes, which are expected to take
approximately one month to build, are designed for a large number of potential
applications, including, but not limited to, biohazard masks, transportation
(aircraft, tanks, armored personnel carriers) and buildings (military,
industrial, office and residential). The prototypes will then be tested over a
period of time.  Assuming the successful completion of prototype development
and testing, the filter products would then be produced by a U.S. Navy-
approved manufacturer.

The Company also plans on beginning testing of its licensed nanotechnology-
enhanced filter media in conjunction with the U.S. Air Force during August
2004.  The U.S. Air Force tests are expected to measure the nano-enhanced
filter media's efficacy in combating several identified biological
contaminants, and will be conducted at the U.S. Army's Edgewood Chemical
Biological Center facilities under the direction of the U.S. Army Research,
Development and Engineering Command.  The tests are being performed in order
to determine how to use the Company's filter technology in a large number of
potential applications.

As discussed above, the Company is currently anticipating raising additional
funds during the next three months through the issuance of additional common
shares in order to raise the necessary capital to sustain operations until
revenues are adequate to cover the costs. These funds are needed in order to
facilitate the Company's long-term objectives.

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<PAGE> 14

Impact of Inflation and Interest Rates
--------------------------------------
At this time, we do not anticipate that either inflation or interest rate
variations will have a material impact on our future operations.

                              ITEM 3.
                       CONTROLS AND PROCEDURES

Our principal executive and principal financial officers have participated
with management in the evaluation of effectiveness of the controls and
procedures required by paragraph (b) of Rule 13a-15 or Rule 15d-15 under the
Exchange Act as of the end of the period covered by this report.  Based on
that evaluation, our principal executive and principal financial officers
believe that our disclosure controls and procedures (as defined in Rule 13a-
15(e) or Rule 15d-15(e) under the Exchange Act) are effective as of the end of
the period covered by the report.  There have been no changes in our internal
controls that have materially affected, or are reasonably likely to materially
affect, our internal controls over financial reporting during the period
covered by this report.

PART II
                         OTHER INFORMATION
                     ITEM 1 - LEGAL PROCEEDINGS

There are two related legal actions currently in process in which the Company
is involved.

(1) "Emergency Filtration Products, Inc. v. David O. Black; Michael Crnkovich;
China Bridge Holdings Ltd; and American Registrar and Transfer Company." This
case is pending in the US District Court for the District of Nevada and is
identified as CASE NO. CV-S- 04-0262-KJD-LRL ("Nevada Action"). The Nevada
Action was initiated by the Company on March 5, 2004.  In the Nevada Action,
the Company seeks Declaratory Relief under 28 USC sections 2201 and 2202 to
determine the rights and obligations of the parties with respect to certain
shares of the Company's stock purportedly conveyed to David Black.

On April 7, 2004, Black asserted counterclaims against the Company and cross
claims against American Registrar in the Nevada Action for (1) "Breach of
Fiduciary Duty"; (2) "Constructive Conversion": (3) "Breach of Covenant of
Good Faith and Fair Dealing"; and (4) "Violation of 10 (b) of the Exchange Act
of 1934."  Black's claims arise out of the Company's and American Registrar's
reluctance to register the purported transfer of the Company shares to Black.
The Nevada Action is currently in discovery.

(2) On or about, April 15, 2004, David Black commenced a suit in the Utah
Third Judicial District Court, which is a Utah state court.  On May 12, 2004,
the action was removed to the US District Court for the District of Utah,
Central Division (federal court) against four officers/directors of the
Company (Doug Beplate, Pete Clark, Raymond Yuan, and Sherman Lazrus) and the
principal of American Registrar (Richard Day).  The matter is captioned:
"David O. Black v. Douglas Beplate; Pete Clark, Sherman Lazrus; Raymond Yuan;
Richard Day and John Does 1 through 10," Civil Case No. 2:04CF00448 PGC ("Utah
Action").  In the Utah Action, Black asserts claims for (1) "Breach of
Fiduciary Duty"; (2) "Breach of Covenant of Good Faith and Fair Dealing"; and
(3) "Violation of 10(b) of the Exchange Act of 1934.  Black's claims arise out
of the identical conduct by the Company and American Registrar underlying his
counter and cross claims in the Nevada Action.  Black's claims do not identify
any specific conduct by the individually named defendants.  Consequently, the
Company moved to dismiss the Utah Action or transfer and consolidate the Utah
Action into the Nevada Action.  The Company's motion is currently pending.

At this time, the outcome of these actions is uncertain.

<PAGE>
<PAGE> 15

                 ITEM 2 - CHANGES IN SECURITIES

During the three months ended June 30, 2004, the Company issued 534,800 shares
of common stock through the exercise of common stock warrants at prices
ranging from $0.25 to $0.50 per share, for total proceeds of $168,543.  The
shares underlying the warrants were included in a registration statement on
Form SB-2 (SEC file number 333-106212) declared effective by the SEC on April
16, 2004.

           ITEM 3 - DEFAULTS BY THE COMPANY ON ITS SENIOR SECURITIES
  None.

           ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

The Company held a Special Meeting of Shareholders on May 6, 2004 in Las
Vegas, Nevada.  At that meeting, shareholders elected Douglas K. Beplate,
David E. Bloom, Thomas Glenndahl, Raymond C.L. Yuan, and Sherman Lazrus as
directors to serve until the next annual meeting and until their successors
are duly elected and qualified.  There were 18,649,718 shares voted in favor,
or approximately 68% of the issued and outstanding shares eligible to vote,
with no shares against and 6,000 shares withholding authority.  Also at that
meeting, shareholders ratified the selection of Piercy, Bowler, Taylor & Kern
as independent auditors.  There were 18,647,218 shares voted in favor, or
approximately 68% of the issued and outstanding shares eligible to vote, with
no shares against and 8,500 shares withholding authority.

           ITEM 5 - OTHER INFORMATION
None


           ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K

a. Exhibits

   Exhibit 31.1 - Certification of principal executive officer as adopted
pursuant to Section 302 of the Sarbanes-Oxley Act Of 2002

   Exhibit 31.2 - Certification of principal financial officer as adopted
pursuant to Section 302 of the Sarbanes-Oxley Act Of 2002

   Exhibit 32.1 - Certification of principal executive officer pursuant to 18
U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002

   Exhibit 32.2 - Certification of principal financial officer pursuant to 18
U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002

b. The following reports on Form 8-K were filed in the quarter ended June 30,
2004:

None.


<PAGE>
<PAGE> 16

                                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.

  Emergency Filtration Products, Inc.


 Date: August 13, 2004             By: /s/Douglas K. Beplate
                                    Douglas K. Beplate, President

 Date: August 13, 2004             By: /s/Steve M. Hanni
                                    Steve M. Hanni, Chief Financial Officer