`SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                             -----------------------

                                   FORM 10-QSB


 [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
     OF 1934

                  For the Quarterly period ended September 30, 2003

 [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

     For the transition period from ___________ to _____________

                        Commission file number 000-27847

                      JACOBSON RESONANCE ENTERPRISES, INC.
              -----------------------------------------------------
             (Exact name of registrant as specified in its charter)

            Nevada                                              65-0684400
 -------------------------------                             -----------------
 (State or other jurisdiction of                              (IRS Employer
 incorporation or organization)                              Identification No.)


             8200 Jog Road, Suite 100, Boynton Beach, Florida 33437
            --------------------------------------------------------
                    (Address of principal executive offices)

                                 (561) 752-4141
                           --------------------------
                           (Issuer's telephone number)

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

      Class                                   November 10, 2003
     -------                                 -----------------
Common stock, $ 0.001 par value                  145,183,475




JACOBSON RESONANCE ENTERPRISES, INC.

                                TABLE OF CONTENTS

                                                                        Page No.


PART I.    FINANCIAL INFORMATION


ITEM I - Unaudited Financial Statements......................................F-1

     Balance Sheet as of September 30, 2003 (Unaudited) .....................F-2

     Statements of Operations for the Nine Months and the Three Months Ended
     September 30, 2003, and the Nine Months and the Three Months Ended
     September 30, 2002 (Unaudited)..........................................F-3

     Statements of Cash Flows for the Nine Months Ended September 30, 2003
     and 2002 (Unaudited)...................................................F4-5

     Notes to Financial Statements (Unaudited).............................F6-12

ITEM 2 - Management's Discussion and Analysis or Plan of Operation.............3

ITEM 3 - Controls and Procedures ..............................................6


PART II - OTHER INFORMATION

ITEM 2 - CHANGES IN SECURITIES.................................................7

ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K......................................8

         Signatures............................................................9

EXHIBITS:

         10.10--  Agreement, dated August 26, 2003, between Jacobson Resonance
                  Enterprises, Inc. and CSB5 Management Company Limited.

         31--     Certification of Dr. Jerry I. Jacobson.

         32--     Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
                  Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.


                                       2





                          PART I. Financial Information


Item 1.  Financial Statements

Certain information and footnote disclosures required under accounting
principles generally accepted in the United States of America have been
condensed or omitted from the following consolidated financial statements
pursuant to the rules and regulations of the Securities and Exchange Commission.
It is suggested that the following consolidated financial statements be read in
conjunction with the year-end consolidated financial statements and notes
thereto included in the Company's Annual Report on Form 10-KSB for the year
ended December 31, 2002.

The results of operations for the three and nine month periods ended September
30, 2003 and 2002 are not necessarily indicative of the results for the entire
fiscal year or for any other period.








                                      F-1




                      JACOBSON RESONANCE ENTERPRISES, INC
                                  BALANCE SHEET
                                   (Unaudited)

                                                         September 30,
                                                             2003
                                                   -------------------------
                                     ASSETS

Current assets:
     Cash                                                $  39,835
     Prepaid expenses                                      315,888
                                                   -------------------------
     Total Current Assets                                  355,723
                                                   -------------------------
Property, plant and equipment - net                         11,878
                                                   -------------------------
Other assets:
     Deferred financing costs - net                            813
     Deposits                                                1,395
                                                  -------------------------
       Total Other Assets                                    2,208
                                                  -------------------------
TOTAL ASSETS                                             $  369,809
                                                  =========================

                    LIABILITIES AND STOCKHOLDERS' DEFICIENCY

Current Liabilities:
     Notes payable                                       $  31,000
     Accounts payable                                      455,268
     Accrued expenses                                      219,581
     Litigation settlement payable                         995,000
     Deposit on common stock to be issued                    7,500
     Deposit on preferred stock to be issued               102,500
     Due to related party                                   66,654
     Due to officer/shareholder                            164,550
     Deferred income                                        16,666
                                                  -------------------------
        Total Current Liabilities                        2,058,719

Long -Term Debt:
     Debentures payable, face value of $25,000
        (Net of beneficial conversion feature
         and costs of $4,470)                               21,220
                                                  -------------------------
        Total Liabilities                                 2,079,939
                                                  -------------------------
Commitments and Contingencies

Stockholders' Deficiency:
     Preferred stock $.001 par value - authorized

        5,000,000 shares;  outstanding 30,000 shares             30
     Common stock $.001 par value - authorized
        300,000,000 shares; outstanding 145,170,657
        shares                                              145,171
     Additional paid in capital                          11,096,786
     Deficit                                            (12,951,517)
                                                  -------------------------
                                                         (1,709,530)


Common stock in treasury, at cost (600,000 shares)             (600)
                                                  -------------------------
        Total Stockholders' Deficiency                   (1,710,130)
                                                  -------------------------
        Total Liabilities and Stockholders' Deficiency $    369,809
                                                  =========================
                       See Notes to Financial Statements.


                                      F-2



                      JACOBSON RESONANCE ENTERPRISES, INC.
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)

                                                        Nine Months Ended                               Three Months Ended
                                                          September 30,                                    September 30,
                                                  2003                   2002                      2003                       2002
                                         ---------------------   ---------------------    -------------------   --------------------
Revenue                                       $  45,974              $ 108,600              $  (11,698)                  $ 39,815
                                         ---------------------   ---------------------    -------------------   --------------------
Costs and expenses:

             General and administrative         474,273               1,236,099                174,379                    448,247
               Research and development               -                  58,348                      -                     (1,694)
                                         ---------------------   ---------------------    -------------------   --------------------
               Total Operating Expenses         474,273               1,294,447                174,379                    446,553
                                         ---------------------   ---------------------    -------------------   --------------------
                   Loss from operations        (428,299)             (1,185,847)              (186,077)                  (406,738)

                Other income (expense):
                       Interest expense         (42,966)               (235,846)               (12,426)                  (136,651)
                                        ---------------------   ---------------------    -------------------   --------------------
                               Net loss      $ (471,265)            $(1,421,693)            $ (198,503)              $   (543,389)
                                        =====================   =====================    ===================   ====================
          Loss per common share - basic      $        -             $     (0.02)            $        -               $      (0.01)
                                        =====================   =====================    ===================   ====================
        Loss per common share - diluted      $        -             $     (0.02)            $        -               $      (0.01)
                                        =====================   =====================    ===================   ====================
Weighted average number of
 common shares outstanding -
 Basic and diluted                           82,813,789               61,325,805            102,003,809                 64,097,007
                                        =====================   =====================    ===================   ====================


                       See Notes to Financial Statements.


                                      F-3




                                       JACOBSON RESONANCE ENTERPRISES, INC.
                                             STATEMENT OF CASH FLOWS
                                                (Unaudited)
                                                                            Nine Months Ended
                                                                              September 30,
                                                                     2003                      2002
                                                             ----------------------    ----------------------
Cash flows from operating activities:
      Net loss                                                $    (471,265)        $     (1,421,693)
      Adjustments to reconcile net loss to
      net cash flows used in operating:
         Depreciation                                                2,424                    29,746
         Amortization of debt discount                               4,275                    28,127
         Impairment loss                                               -                      83,000
         Charge to operations of amounts due
         from officer/shareholder                                      -                      50,000
         Fair value of common stock issued
         for services                                               109,100                   178,441
         Fair value of common stock issued
         for interest expense                                       10,350                    115,695
         Fair value of options issued                                                         27,325
         Fair value of common stock issued
         for financing costs                                           -                      29,170
         Beneficial conversion features                                -                      41,250
         Write off of deferred offerings cost                          -                      75,250
         Non-cash interest expense                                     -                     (41,250)
         Other non-cash items                                                                 98,757
Changes in operating assets and liabilities                         155,121                   211,609
                                                             ----------------------    ----------------------
Net Cash Used in Operating Activities                              (189,995)                 (494,573)
                                                             ----------------------    ----------------------
Cash flow from financing activities:
      Payment of note payable                                          -                     (25,000)
      Due to related party                                             -                      77,831
      Proceeds from issuance of debentures                             -                      125,000
      Financing costs                                                  -                     (12,518)
      Proceeds from common stock to be issued                       102,500                   113,225
      Proceeds from issuance of common
      stock                                                         92,150                    61,435
      Proceeds from officer/stockholder                                -                      154,600
      Proceeds from note payable                                    31,000                       -
                                                             ----------------------    ----------------------
Net Cash Provided by Financing Activities                           225,650                   494,573
                                                             ----------------------    ----------------------


                       See Notes to Financial Statements.


                                      F-4



                      JACOBSON RESONANCE ENTERPRISES, INC.
                             STATEMENT OF CASH FLOWS
                                   (Unaudited)
                                                                                  Nine Months Ended
                                                                                    September 30,
                                                                             2003                  2002
                                                                      ------------------    ----------------

Net Increase in Cash and
           Cash Equivalents                                              35,655                    -
Cash and Cash Equivalents-Beginning
           of Period                                                      4,180                    -
                                                                      ------------------    ----------------
Cash and Cash Equivalents-End of of Period                              $ 39,835           $       -
                                                                      ==================    ================
Noncash Investing and Financing Activities:

Issuance of common stock paid in advance                                $ 22,000           $   56,775
                                                                      ==================    ================
Subscriptions receivable for issuance of stock                          $      -           $      950
                                                                      ==================    ================
Issuance of common stock for conversion of
           debentures                                                   $225,000           $  163,182
                                                                      ==================    ================
Issuance of common stock for services                                   $415,350           $   71,148
                                                                      ==================    ================
Issuance of common stock for financing costs                            $      -           $   47,110
                                                                      ==================    ================
Issuance of common stock as discount
           on debentures                                                $      -           $   26,190
                                                                      ==================    ================
Changes in operating assets and liabilities
           Decrease in accounts receivable                              $      -           $    4,786
           Decrease in prepaid expenses and other                         32,200               40,125
           Increase in accounts payable and accrued expenses             122,452               171,698
           Decrease in due to related party                             (16,197)                     -
           Decrease in litigation settlement payable                           -                (5,000)
           Increase in deferred income                                    16,666                     -
                                                                      ------------------    ----------------
                                                                      $  155,121             $  211,609
                                                                      ==================    ================

                       See Notes to Financial Statements.

                                      F-5





                       JACOBSON RESONANCE ENTERPRISES, INC

                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)


1.   ORGANIZATION

Jacobson Resonance Enterprises, Inc (the "Company") is a bio-tech and
bio-medical enterprise involved in the development of resonance and
electro-magnetic equipment, processes and applications. Applications for the use
of resonance technology in the medical, veterinary medicine, food, agricultural,
recreational, pharmaceutical, and environmental industries are currently being
pursued.

On January 10, 2001, a subsidiary of Jacobson's licensee, Serrato Enterprises
LLC, received the CE-Mark by the Health Authorities of the European Union in
conjunction with the Spanish Health Ministry for medical use, distribution,
manufacturing, and sale of Jacobson resonators throughout the nation members of
the European Union. This approval covers the broad spectrum of chronic pain
caused by arthrosis of the knee. In addition, full approval and clearance for
manufacturing of all model resonators have been received by the Spanish Ministry
of Spain under the same CE-Mark license.

On November 27, 2000, Jacobson's licensee, Bio Resonance Technology, Inc.,
received notification of licensing rights from from the Therapeutic Products
Section of the Canadian Ministry of Health (Health Canada) for commercialization
and use of the Jacobson Resonators in Canada. The license indication covers the
reduction of pain associated with arthritic conditions. The Company received
royalties from its foreign licensees and commenced sales of its resonator
models.


2.   BASIS OF PRESENTATION

The accompanying financial statements have been prepared assuming the Company
will continue as a going concern. As reflected in the financial statements, the
Company has incurred losses of $1,507,342 and $1,813,071 for the years ended
December 31, 2002 and 2001 and $12,954,812 since its inception in 1996 and has
continued to incur losses and negative cash flows from operations through
September 30, 2003. As of September 30, 2003, the Company has a working capital
deficit of approximately $1,725,000. The Company has had limited revenue during
these years. There is no assurance that the Company will not encounter
substantial expenses related to financing the marketing efforts or that the
Company's products will be commercially acceptable. The Company will be required
to expand its management and administrative capabilities in order to manage its
growth as well as to respond to competitive conditions. The Company needs to
achieve a level of sales adequate to support its cost structure and will require
additional equity financing and/or debt financing to fund its operations. Such
funds may not be available on terms acceptable to the Company. These factors
indicate that the Company may not be able to continue as a going concern.

Based on the Company's current plans of licensing the distribution of its
portable, battery powered, resonators worldwide (except in the United States of
America), distribution of its medical resonators in Europe, establishing clinics
outside the United States and raising needed cash, the Company believes it will
have sufficient cash to fund its operations through fiscal 2003. The financial
statements do not include any adjustments relating to the recoverability and
classification of recorded assets from the outcome of this uncertainty.

3.       REVENUE RECOGNITION

Revenues from royalties are recognized when they are earned. Revenue from sale
of resonance equipment is recorded when the equipment is shipped to customers
and title has passed. License fee revenue is recognized over the life of the
agreement.

                                      F-6



4.       LOSS PER COMMON SHARE

Basic and diluted loss per common share is computed by dividing net loss by the
weighted average number of common shares outstanding during the year. Potential
common shares are excluded from the loss per share calculation, because the
effect would be antidilutive. Potential common shares relate to the convertible
debt, stock options, warrants, and convertible preferred.

5.       STOCK BASED COMPENSATION

The Company issues shares of its common stock to employees and non-employees as
stock-based compensation. The Company accounts for the services using the fair
market value of the services rendered.

6.       NOTES PAYABLE

In the second and third quarters of 2001, the Company received $250,000 from the
proceeds of several promissory notes authorized April 2, 2001. Each of these
notes were for a term of 60 days and bear interest at a rate of 5% per annum.
Per an April 10, 2001 amendment these notes are convertible into common stock of
the Company. In February 2002, $25,000 of these notes were repaid. On August 28,
2003, the notes payable were assumed by Investment Management, Inc. in exchange
for 47,250,000 restricted shares of the Company's common stock. In the event of
default by Investment Management, Inc. the Company guarantees to fulfill the
obligation. In addition, on August 29, 2003 the Company issued 2,250,000 shares
of its common stock to the former noteholders for interest that was owed in the
amount of $53,196, as of that date.

Under the original terms of the notes, in the event of default, the note holder
had the option to purchase 10,000 shares of the Company's common stock for $100
for each $25,000 of outstanding debt. Additionally, the notes stated that the
note holders could continue to purchase common stock in the Company at a rate of
5,000 shares of common stock for $50 for each $25,000 of outstanding debt for
each 30 day period until the notes were paid in full.

As of September 30, 2003, the Company had received $8,150 for 815,000 shares of
common stock. The Company issued 260,000 shares in 2001 and 555,000 shares in
2002 to satisfy the defaults.

The Company recorded interest expense of $13,950 and $83,321 for the nine months
ended September 30, 2003 and 2002, respectively for the difference between the
fair market value of the Company's common stock and the exercise price of $.01
per common share for any shares that the note holders have a right to receive.
As of August 28, 2003, the Company was no longer in default on these notes.

The Company received $20,000 on April 4, 2003 and $11,000 on August 28, 2003 and
issued two 60 day notes to a shareholder. The Company is required to issue
42,000 and 75,000 shares per month of the Company's common stock in connection
with the loans, respectively. As of this date, the Company was in default on
these notes and the entire balance is due and payable in full. The shares have
not been issued to the noteholder. Interest expense in the amount of $20,520 and
$11,520 has been accrued on the value of these unissued shares and is included
in the statement of operations for the nine and three months ended September 30,
2003, respectively.

The fair value of the notes payable approximates the carrying amount due to the
short-term nature of the instruments.


                                      F-7



7.       CONVERTIBLE DEBENTURES

In September 2002, the Company issued $25,000 in convertible debentures (as part
of a funding agreement with Techinvest, Inc.) due September 3, 2005. In
connection with the debentures aggregating $25,000, the Company incurred costs
of $2,518. The Company also recorded a beneficial conversion feature of $8,250
in connection with this convertible debenture. The beneficial conversion feature
is accounted for as a discount to the debenture and is allocated to additional
paid in capital. The discount is to be amortized to interest expense through the
maturity date of the debt. The Company recorded $4,275 and $1,425 of
amortization of debt discount for the nine and three months ended September 30,
2003.

The fair value of the debentures approximates the face, based on rates and terms
available to the Company for similar debt.


8.       ACCRUED EXPENSES

Accrued expenses consist of the following:

                                          September 30, 2003
                                          ------------------
Professional fees                              $ 111,941
Interest                                          32,318
Insurance                                         20,913
Payroll                                           39,500
Payroll taxes                                     14,509
                                            ------------
                                               $ 219,181
                                            ============

9.       DUE TO RELATED PARTY

The Company receives royalties from an entity owned by a Director. For the nine
months ended September 30, 2003 and 2002 the Company received royalties from the
related party of approximately $34,650 and $10,000, which represented 76% and 9%
of revenues, respectively. As of September 30, 2003, the Company owed the
related party $66,654. During 2003, the entity had to accept returned goods from
one of its customers and accordingly, the Company had to refund royalties
previously earned by approximately $25,000 in 2003 and $101,000 in 2002.

10.      STOCK OPTION PLAN

In December 2002, the FASB issued SFAS No. 148, "Accounting for Stock-Based
Compensation-Transition and Disclosure, an amendment of FASB Statement No. 123".
SFAS No. 148 provides alternative methods of transition for a voluntary change
to the fair value based method of accounting for stock-based employee
compensation. It also requires disclosure in both annual and interim financial
statements about the method of accounting for stock-based employee compensation
and the effect of the method used on reported results. SFAS No. 148 is effective
for annual and interim periods beginning after December 15, 2002. The Company
will continue to account for stock-based employee compensation under the
recognition and measurement principle of APB Opinion No. 25 and related
interpretations. The Company complied with the additional annual and interim
disclosure requirements effective December 31, 2002 and September 30, 2003.


                                      F-8


In November 1998, the Company's board of directors approved the 1998 Stock
Option Plan (the "Plan"). The Plan authorizes the granting of both incentive
stock options and nonstatutory stock options up to a total of 10,000,000 shares.
The Company's board of directors also approved the 2001 Stock Option Plan. The
provisions under this plan are similar to the 1998 Plan except that the 2001
Plan authorizes the granting of both incentive stock options and nonstatutory
stock options up to a total of 25,000,000 shares. The option price for
nonstatutory stock options may be less than, equal to, or greater than the
market price on the date the option is granted, whereas for incentive stock
options, the price will be a least 100% of the fair market value. Compensation
expense, representing the difference between the exercise price and the fair
market

price at date of grant, is recognized over the vesting or service period. For
all the periods presented all of options were granted at an exercise price equal
to the fair market value of the Company's common stock at the date of grant. The
Board of Directors has granted 19,447,500 options to eligible persons under
these plans, of which options to purchase 16,747,500 shares were outstanding as
of September 30, 2003. The right to exercise the options vests annually as
follows:

(1) The right to exercise the option and to acquire 50% of the shares of stock
underlying the options vests at the date granted.

(2) The right to exercise the option and acquire 30% of the shares of stock
underlying the options vests one year after the date it is granted.

(3) The right to exercise the option and acquire 10% of the shares of stock
underlying the options vests two years after the date it is granted.

(4) The right to exercise the option and acquire 10% of the shares of stock
underlying the options vests three years after the date it is granted.



Had  compensation  expense for the Company's stock option plans and the warrants
issued to the  shareholders/officers  been determined based on the fair value of
the options at the grant dates,  consistent  with SFAS No. 123 the Company's net
loss and net loss per share amounts would have been as follows:


                                      Three Months Ended                     Nine Months Ended
                                         September 30,                         September 30,
                                     2003              2002                 2003              2002

Net loss:
As reported                        $ (201,798)       $ (543,389)         $ (474,560)      $(1,421,693)
                                  -------------      -----------         -----------     -------------

Proforma                             (201,798)         (543,389)           (474,560)       (1,421,693)
                                  -------------      -----------         -----------     -------------
Basic and diluted loss per share:
As reported                               $ -           $ (0.01)                $ -           $ (0.02)
                                  -------------      -----------         -----------     -------------
Proforma                                  $ -           $ (0.01)                $ -           $ (0.02)
                                  -------------      -----------         -----------     -------------


11.      STOCKHOLDERS' DEFICIENCY

During the nine months ended  September 30, 2003, the Company issued  14,430,000
shares of common  stock for  services of  $415,330  (valued at $.001 to $.06 per
share) which is included in general and administrative expenses in the Company's
statement of operations for the nine months ended September 30, 2003.


                                      F-9


During the nine months ended September 30, 2003, the Company entered into a
private sales of 10,065,000 shares of common stock at $.01 to $.014 per share,
aggregate of $114,150. In connection with the private sales, the Company issued
warrants to purchase 4,875,000 shares of common stock of the Company at $.05 to
$.20 per share (valued at $14,374) which are issue costs netted against the
funds received from the private sales. The warrants are exercisable for
24-months from the date of issuance.

During the nine months ended September 30, 2003, the Company issued 1,500,000
shares of the Company's common stock for funds received ($22,000) in 2002.

During the nine months ended September 30, 2002, the Company entered into a
private sale of 1,008,333 shares of common stock at $.04 to $.16 per share, an
aggregate of $100,725 (of which $15,000 was received in 2001). In connection
with the private sales, the Company issued warrants to purchase 905,000 shares
of common stock of the Company at $.18 - $.40 per share (valued at $250,000)
which are issue costs netted against the funds received from the private sales.
The warrants are exercisable for a period of 18-24 months from the date of
issuance.

During the nine months ended September 30, 2002, the Company issued 1,680,053
shares of common stock for services of $175,024 (valued at $0.35 and $0.65 per
share) which is included in general and administrative expenses in the Company's
statement of operations for the nine months ended September 30, 2002.

Pursuant to continuing agreement for product endorsements on March 21, 2002 the
Company issued 205,000 shares of common stock in satisfaction of $71,148 (valued
at $.35 per share) of accrued liabilities at December 31, 2001.

The Company was required to issue 30,000 shares of common stock due at December
31, 2001 pursuant to provisions of a bridge loan. An additional 525,000 shares
of common stock were issued during the nine months ended September 30, 2002
relating to 2002 transactions. The Company recorded $83,321 of interest expense
for the nine months ended September 30, 2002 in connection with the
transactions. See Note 6.

In connection with the Tecinvest funding the Company issued 336,500 shares of
common stock (valued at $47,110) for services relating to 2001 and 2002 funding
transactions. The fair value of the shares of common stock issued for 2001 and
2002 fundings are being amortized over the period the debt is outstanding.

In June, 2002, pursuant to a consulting agreement, a warrant holder exercised
the cashless exercise provision of options to acquire 350,000 shares of common
stock which resulted in the holder receiving 128,948 shares of common stock.

12.      Letter of Intent

On May 14, 2003, the Company entered into letter of intent with Tekron, Inc.,
concerning proposed financing for the Company and a license agreement to market
next-generation medical care devices and technologies commencing with China and
Africa. This letter of intent expired and is no longer in effect.


13.  License Agreement

In April 2003, the Company entered into a license agreement with P.E.R., Inc.
("Licensee") for a period of six years. Royalties shall be paid by licensee at
$30 per portable unit priced to $499 plus 10% of the gross profit of licensee.
All units above $500 and all add-on and replacement parts will inure a 15%
royalty of the gross profit. No revenue has been received as of September 30,
2003.


                                      F-10



In addition, there is an initial license payment for $100,000 to be received by
the Company in consideration in granting the license. As of September 30, 2003,
$25,000 has been received with the remaining balance due no later than April 4,
2004. For the nine and three month period ended September 30, 2003 the Company
recorded $11,334 and $4,167 of license fee revenue. respectively.

14.  Consulting Agreement

On August 12, 2003, the Company entered into a consulting services agreement
with Med Visor Financial Group Inc. for a period of one year. Compensation for
the services is $350,000 and will be paid with 12,750,000 shares of restricted
shares of the Company's common stock of which $43,750 is included in general
administrative expenses in the Company's Statement of Operations for the nine
months ended September 30, 2003.

15.  Accounting Pronouncements

In April 2002, the FASB issued SFAS No. 145 "Rescission of FASB Statements No.
4, 44, and 64, Amendment of FASB Statement No. 13, and Technical Corrections".
This statement eliminates the automatic classification of gain or loss on
extinguishment of debt as an extraordinary item of income and requires that such
gain or loss be evaluated for extraordinary classification under the criteria of
Accounting Principles Board No. 30 "Reporting Results of Operations". This
statement also requires sales-leaseback accounting for certain lease
modifications that have economic effects that are similar to sales-leaseback
transactions, and makes various other technical corrections to existing
pronouncements. This statement will be effective for the Company for the year
ending December 31, 2003. Management believes that adopting this statement will
not have a material effect on the Company's results of operations or financial
position.

In June 2002, the FASB issued SFAS No. 146, "Accounting for Costs Associated
with Exit or Disposal Activities." This Statement requires recording costs
associated with exit or disposal activities at their fair values when a
liability has been incurred. Under previous guidance, certain exit costs were
accrued upon management's commitment to an exit plan. The Company adopted SFAS
No. 146 on January 1, 2003. The adoption of SFAS No. 146 did not have a material
impact on the Company's results of operations or financial position.

In April 2003, the FASB issued SFAS No. 149, "Amendment of Statement No. 133 on
Derivative Instruments and Hedging Activities." This statement amends and
clarifies financial accounting and reporting for derivative instruments,
including certain derivative instruments embedded in other contracts and for
hedging activities under FASB Statement No. 133, "Accounting for Derivative
Instruments and Hedging Activities." This Statement is effective for contracts
entered into or modified after June 30, 2003, and for hedging relationships
designated after June 30, 2003. Management believes that adopting this Statement
will not have a material effect on the Company's results of operations or
financial condition.

In November 2002, the FASB issued FASB Interpretation No. 45 (FIN 45),
Guarantor's Accounting and Disclosure Requirements for Guarantees, Including
Indirect Guarantees of Indebtedness of Others, and interpretation of FASB
Statements No. 5, 57, and 107 and Rescission of FASB Interpretation No. 34. FIN
45 clarifies the requirements of FASB Statement No. 5, Accounting for
Contingencies, relating to the guarantor's accounting for, and disclosure of,
the issuance of certain types of guarantees. This interpretation clarifies that
a guarantor is required to recognize at the inception of certain types of
guarantees, a liability for the fair value of the obligation undertaken in
issuing the guarantee. The initial recognition and initial measurement
provisions of this Interpretation are applicable on a prospective basis to
guarantees issued or modified after December 31, 2002, irrespective of the
guarantor's fiscal year end. The disclosure requirements in this interpretation
are effect for financial statements of interim or annual periods ending after
December 15, 2002. The Company adopted FIN 45 on January 1, 2003. The adoption
of FIN 45 did not have a material impact on the Company's results of operations
or financial position.


                                      F-11

In January 2003, the Financial Accounting Standards Board issued Interpretation
No.46, "Consolidation of Variable Interest Entities," which addresses
consolidation by business enterprises of variable interest entities. In general,
a variable interest entity is a corporation, partnership, trust, or any other
legal structure used for business purposes that either (a) does not have equity
investors with voting rights or (b) has equity investors that do not provide
sufficient financial resources for the entity to support its activities. A
variable interest entity often holds financial assets, including loans or
receivables, real estate or other property. A variable interest entity may be
essentially passive or it may engage in research and development or other
activities on behalf of another company. The objective of Interpretation No.46
is not to restrict the use of variable interest entities but to improve
financial reporting by companies involved with variable interest entities. Until
now, a company generally has included another entity in its consolidated
financial statements only if it controlled the entity through voting interests.
Interpretation No.46 changes that by requiring a variable interest entity to be
consolidated by a company if that company is subject to a majority of the risk
of loss from the variable interest entity's activities or entitled to receive a
majority of the entity's residual returns or both. The consolidation
requirements of Interpretation No. 46 apply immediately to variable interest
entities created after January 31, 2003. The consolidation requirements apply to
older entities in the first fiscal year or interim period beginning after June
15, 2003. Certain of the disclosure requirements apply in all financial
statements issued after January 31, 2003, regardless of when the variable
interest entity was established. The Company does not have any variable
interests and, accordingly, adoption is not expected to have a material effect
on the Company's results of operations or financial position.

In May 2003, the FASB issued SFAS No. 150 "Accounting for Financial Instruments
with the Characteristics of Both Liabilities and Equities". SFAS No. 150
establishes standards regarding the manner in which an issuer classifies and
measures certain types of financial instruments having characteristics of both
liabilities and equity. Pursuant to SFAS No. 150, such freestanding financial
instruments (i.e. those entered into separately from an entity's other financial
instruments or equity transactions or that are legally detachable and separately
exercisable) must be classified as liabilities or, in some cases, assets. In
addition, SFAS No. 150 requires that financial instruments containing
obligations to repurchase the issuing entity's equity shares and, under certain
circumstances, obligations that are settled by delivery of the issuer's shares
be classified as liabilities. The Statement is effective for financial
instruments entered into or modified after May 31, 2003 and for other
instruments at the beginning of the first interim period after June 15, 2003.
Management believes adopting this statement will not have a material effect on
the statement of operations or financial position.



                                      F-12
















 ITEM 2. Management's Discussion and Analysis or Plan of Operation

The following discussion of our financial condition and results of operations
should be read in conjunction with the financial statements and notes thereto
and the other financial information included elsewhere in this report.

Certain statements contained in this report, including, without limitation,
statements containing the words "believes," "anticipates," "expects" and words
of similar import constitute "forward looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks and uncertainties. Our actual results
may differ materially from those anticipated in these forward-looking statements
as a result of certain factors, including the success and subsequent acceptance
of new medical research and development; the regulatory framework of the health
care industry; our ability to create, sustain, manage or forecast our growth;
our ability to attract and retain key personnel; our ability to protect
technology; changes in our business strategy or development plans; competition;
demographic changes; business disruptions; adverse publicity; and international,
national and local general economic and market conditions.

We have incurred losses of approximately $1,507,000 for the year ended December
31, 2002, and of approximately $471,000 for the nine months ended September 30,
2003. Of those amounts, approximately $213,000 and $119,000 respectively,
represent the non-cash expense resulting from the issuance of common stock and
options to purchase common stock to members of our management and third parties
for services rendered and interest.

Three Months Ended September 30, 2003, compared to Three Months Ended September
30, 2002

The net loss decreased by approximately $344,000 from approximately $543,000 in
2002 to approximately $199,000 for the three months ended September 30, 2003.

The items of significant decrease in the three months ended September 30, 2003
over the comparable period of the prior year were a decrease in general and
administrative expense from approximately $448,000 in 2002 to approximately
$174,000 for the three months ended September 30, 2003, and a decrease in net
interest expense from approximately $137,000 in 2002 to approximately $12,000
for the three months ended September 30, 2003.

During 2003 interest expense was approximately $12,000 compared to interest
expense of approximately $137,000 for the three months ended September 30, 2002.
The decrease was due to reduced value of our common stock issued in payment of
interest on our borrowings and the conversion of outstanding debt to common
stock.

We did not incur costs for research and development in the three months ended,
September 30, 2003. We showed a credit of approximately $1,700 for the three
months ended September 30, 2002.

General and administrative expenses decreased by approximately $274,000 in 2003
from 2002, primarily due to reduced compensation costs.


Nine Months Ended September 30, 2003, compared to Nine Months Ended September
30, 2002

The net loss decreased from approximately $1,421,000 in 2002 to approximately
$471,000 for the nine months ended September 30, 2003.

The items of significant decrease in the nine months ended September 30, 2003
over the comparable period of the prior year were a decrease in general and
administrative expense from approximately $1,236,000 in 2002 to approximately
$474,000 for the nine months ended September 30, 2003, and a decrease in
interest expense from approximately $236,000 in 2002 to approximately $43,000
for the nine months ended September 30, 2003.


                                       3


We did not incur costs for research and development in the nine months ended,
September 30, 2003.These costs were approximately $58,000 for the nine months
ended September 30, 2002.

During 2003 interest expense was approximately $43,000 (including amortization
of approximately $4,300 of debt costs) compared to interest expense of
approximately $236,000 for the nine months ended September 30, 2002. The
decrease was due to reduced value of our common stock issued in payment of
interest on our borrowings and conversion of outstanding debt to common stock.

General and administrative expenses decreased approximately $762,000 in 2003
from 2002. Professional fees decreased by approximately $115,000 due to reduced
transactional costs of legal and accounting. Compensation decreased by
approximately $300,000. Compensation decreased due to reductions in the number
of full-time employees, stock issued to employees and loans charged to
compensation. Other operating costs decreased by approximately $264,000, which
included a decrease in advertising of approximately $25,000, in travel of
approximately $20,000, in offering costs of approximately $75,000 and in
printing and professional development of approximately $25,000. In addition, in
2002, as a result of an impairment review, the Company had recorded an
impairment loss of approximately $83,000 to reduce the value of long-lived
assets to estimated fair value.


Critical Accounting Policies

Our discussion and analysis of our financial condition are based upon our
financial statements, which have been prepared in accordance with accounting
principles generally accepted in the United States of America. The preparation
of these financial statements requires us to make estimates and judgments that
affect the reported amount of assets, liabilities, revenues and expenses and
related disclosure of contingent liabilities. On an ongoing basis, we evaluate
our estimates, including those related to revenues, deferred income taxes and
long-lived assets. We based our estimates on our historical experience,
knowledge of current conditions and our beliefs of what could occur in the
future considering available information. Actual results may differ from these
estimates under different assumptions or conditions. The Company believes the
following critical accounting policies affect its more significant judgments and
estimates used in the preparation of its financial statements.

Revenue Recognition

The company recognizes revenue in accordance with SEC Staff Accounting Bulletin
No. 101, Revenue Recognition in Financial Statements, as amended by SAB 101A and
101B (collectively SAB 101). SAB 101 requires that four basic criteria must be
met before revenue can be recognized: (1) persuasive evidence of an arrangement
exists; (2) delivery has occurred or services rendered; (3) the fee is fixed and
determinable; and (4) collectibility is reasonably assured. Under the provisions
of SAB 101, royalties are recognized when earned and revenues from sale of
resonance equipment are recorded when the equipment is shipped.


                                       4


Taxes

The Company records a valuation allowance to reduce its deferred tax assets to
an amount that is more likely than not to be realized. While the Company
considers historical levels of income, expectations and risks associated with
estimates of future taxable income and ongoing prudent and feasible tax planning
strategies in assessing the need for the valuation allowance, in the event the
Company determines that it would be able to realize deferred tax assets in the
future in excess of the net recorded amount, an adjustment to the deferred tax
asset would increase income in the period that such determination was made.
Likewise, should the Company determine that it would not be able to realize all
or part of the net deferred tax asset in the future, an adjustment to the
deferred tax asset would be charged to income in the period such determination
was made. The Company has recorded valuation allowances against its entire
deferred tax assets of approximately $2,739,000 at December 31, 2002. The
valuation allowances relate primarily to the net operating loss carry forward
deferred tax asset where the tax benefit of such asset is not assured.

Impairment of Long-lived Assets

The Company assesses the impairment in value to its long-lived assets whenever
events or circumstances indicate that their carrying value may not be
recoverable. Factors considered important which could trigger impairment review
include the following: significant negative industry trends, significant
underutilization of the assets, and significant changes in how the Company uses
its assets or plans for their use.

If the Company determines that the future undiscounted cash flows related to
these assets will not be significant to recover their carrying value, then the
Company will reduce the carrying value of these assets down to the Company's
estimate of their fair market value and will continue depreciating or amortizing
them over their remaining useful lives. Accordingly, the statement of operations
reflects an impairment loss of $83,000 for the year ended December 31, 2002.

Plan of Operation

On January 10, 2001, a subsidiary of Jacobson's licensee, Serrato Enterprises
LLC, received the CE-Mark by the Health Authorities of the European Union in
conjunction with the Spanish Health Ministry for medical use, distribution,
manufacturing, and sale of Jacobson resonators throughout the nation members of
the European Union. This approval covers the broad spectrum of chronic pain
caused by arthrosis of the knee. In addition, full approval and clearance for
manufacturing of all model resonators have been received by the Spanish Ministry
of Spain under the same CE-Mark license.

We have commenced negotiations to restructure our agreements with Serrato
Enterprises in regard to the territory licensed and other matters.

On November 27, 2000, Jacobson's licensee, Bio Resonance Technology, Inc.,
received notification of licensing rights from the Therapeutic Products Section
of the Canadian Ministry of Health (Health Canada) for commercialization and use
of the Jacobson Resonators in Canada. The license indication covers the
reduction of pain associated with arthritic conditions. The Company received
royalties from its foreign licensees and commenced sales of its resonator
models.

We have not yet received FDA clearance for the commercialization of our clinical
resonators in the United States. In 1997, we filed our submission with the FDA
seeking a determination that the 18-inch clinical Jacobson Resonator qualified
as an NSR device for the treatment of osteoarthritis pain of the knee. On March
4, 1999, the FDA determined that our clinical study of the 18-inch clinical
Jacobson Resonator to demonstrate effectiveness was an NSR device study because
the resonator did not meet the definition of a Significant Risk device under the
applicable provision of the IDE. This determination in effect means that the
resonator meets the FDA requirements as to safety. In August, 2002, we withdrew
our 510(k) de novo application.


                                       5


Double blind, randomized and placebo controlled studies are planned to continue
to add data from greater populations of subjects for submission of de novo
510 (k) applications to FDA for clearance for specific indications in pain
management.

Management's focus will also be on product applications that do not require
regulatory approval via joint ventures, licensing, technology transfer and like
transactions. Other possible sources of revenue or capital for the Company
include veterinary medicine, the resonated beverage businesses and offshore
clinics.

The Company has entered into a license agreement with P.E.R., Inc., pursuant to
which P.E.R. has been licensed to manufacture and sell battery-powered, portable
resonators worldwide, excepting in the United States. We have received an
initial payment of $25,000 on account of the $100,000 initial license fee
pursuant to this agreement, and are entitled to a royalty fee of $30 per unit
sold, plus 10% of the gross profit of P.E.R., for all portable units sold for
under $500. For all portable units selling at $500 and above, we receive a
royalty of 15% of P.E.R's gross profit on those units, payable on a quarterly
basis; and for all add-on and replacement parts sold, we receive a royalty of
15% of P.E.R.'s gross profit for those parts.

Liquidity and Capital Resources as of September 30, 2003

Through December 31, 2002, we received approximately $177,000, from the sale of
securities and $125,000 from the proceeds of several notes payable, and in the
nine months ended September 30, 2003, we received approximately $226,000 from the
sale of securities and the proceeds of notes payable. Given our current
liquidity position, we are required to seek additional funds through either debt
or equity financing. Our year-end financial statements include an explanatory
paragraph about our ability to continue as a going concern.

In April 2001, we entered into a consulting agreement with Regulatory Insight,
Inc., of Lakewood, Colorado for healthcare consulting services.

Note 6 of the financial statements refers to the fact that we received $250,000
from the proceeds of several promissory notes which have 60 days terms and pay
interest at 5% per annum. These remaining $225,000 principal balance of these
notes was converted in August 2003. Note 6 also refers to the fact that we
issued a 60 day notes to a stockholder on April 4 and August 28, 2003, in the
respective amounts of $20,000 and $11,000, to evidence a loans to us in those
amounts. We are required to issue 42,000 and 75,000 shares per month of the
Company's common stock in connection with the loans, respectively. As of this
date, the Company was in default on these notes and the entire balance is due
and payable in full. Interest expense in the amount of $20,520 and $11,520 has
been accrued on the value of these unissued shares and is included in the
statement of operations for the nine and three months ended September 30, 2003.
As of September 30, 2003, we are required to issue 492,000 shares of the
Company's common stock in connection with the loans.



ITEM 3. Controls and Procedures


Within the 90 days prior to the filing date of this Form 10-QSB, the Company
carried out an evaluation, under the supervision and with the participation of
the Company's management, including the Company's Chief Executive Officer and
Chief Financial and Accounting Officer, of the effectiveness of the design and
operation of the Company's disclosure controls and procedures as defined in Rule
13a-14 of the Securities Exchange Act of 1934. Based upon that evaluation, the
Chief Executive Officer and Principal Financial and Accounting Officer concluded
that the Company's disclosure controls and procedures are effective in timely
alerting them to material information relating to the Company (including its
consolidated subsidiaries) required to be included in this Quarterly Report on
Form 10-QSB. There have been no significant changes in the Company's internal
controls or in other factors which could significantly affect internal controls
subsequent to the date the Company carried out its evaluation.

                                       6



                           PART II. Other Information.

ITEM 2. Changes in Securities

(c) Recent Sales of Unregistered Securities


------------------ ---------------------------------- ----------------- ---------------- ---------------------
7/08/03            500,000 shares of Common Stock     Private Investor  NA               $.01 per share/NA
                   and two-year warrants to
                   purchase 250,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- ----------------- ---------------- ---------------------
------------------ ---------------------------------- ----------------- ---------------- ---------------------
7/15/03            1,000,000 shares of Common Stock   Private Investor  NA               $.01 per share/NA
                   and two-year warrants to
                   purchase 500,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- ----------------- ---------------- ---------------------
------------------ ---------------------------------- ----------------- ---------------- ---------------------
8/04/03            500,000 shares of Common Stock     Private Investor  NA               $.01 per share/NA
                   and two-year warrants to
                   purchase 250,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- ----------------- ---------------- ---------------------
------------------ ---------------------------------- ----------------- ---------------- ---------------------
8/13/03            100,000 shares of Common Stock     Private Investor  NA               $.01 per share/NA
                   and two-year warrants to
                   purchase 50,000 shares of common
                   stock at an exercise price of
                   $.05 per share
------------------ ---------------------------------- ----------------- ---------------- ---------------------
------------------ ---------------------------------- ----------------- ---------------- ---------------------
9/02/03            2,250,000 shares of Common Stock   Private           NA               $.01 per share/NA
                   issued former holders of           Investors
                   outstanding convertible notes as
                   default payment
------------------ ---------------------------------- ----------------- ---------------- ---------------------
------------------ ---------------------------------- ----------------- ---------------- ---------------------
9/02/03            12,750,000 shares of common        Consulting Firm   NA               Consulting Services
                   stock issued to consultant for                                        valued at $.01 per
                   consulting services rendered                                          share/NA
------------------ ---------------------------------- ----------------- ---------------- ---------------------
------------------ ---------------------------------- ----------------- ---------------- ---------------------
9/08/03            125,000 shares of Common Stock     Private Investor  NA               $.01 per share/NA
                   and two-year warrants to
                   purchase 62,500 shares of common
                   stock at an exercise price of
                   $.05 per share
------------------ ---------------------------------- ----------------- ---------------- ---------------------
------------------ ---------------------------------- ----------------- ---------------- ---------------------
9/08/03            125,000 shares of Common Stock     Private Investor  NA               $.01 per share/NA
                   and two-year warrants to
                   purchase 62,500 shares of common
                   stock at an exercise price of
                   $.05 per share
------------------ ---------------------------------- ----------------- ---------------- ---------------------
------------------ ---------------------------------- ----------------- ---------------- ---------------------
9/09/03            47,250,000 shares of Common        Private           NA               $.01 per share/NA
                   Stock upon conversion of           Investors
                   $250,000 principal amount of
                   outstanding convertible notes
------------------ ---------------------------------- ----------------- ---------------- ---------------------
------------------ ---------------------------------- ----------------- ---------------- ---------------------
9/11/03            102,500 shares of Series B         Private           NA               $1.00 per share of
                   Preferred Stock, convertible       Investors                          Preferred Stock/NA
                   into 2,050,000 shares of Common
                   Stock


------------------ ---------------------------------- ----------------- ---------------- ---------------------


                                       7


ITEM 5. Other Information.

We have signed a new joint venture agreement with the CSB5 Management Company
Limited, the principals of which are Drs. Conville Brown and Corrine Sin Quee,
in New Providence, Nassau, Bahamas, directed at utilizing our technology in pain
management and the leisure/spa arena. This joint venture, "Magnetic Resonance
Therapy, Bahamas, Limited" is scheduled to open this December, located on the
campus of the new Bahamas Heart Center Expansion, in the Centereville Medical
Pavilion. JRSE's commercial focus will begin in the pain management area and the
leisure/spa arena that broadly includes relaxation and rejuvenation. We expect
to draw clients from the local population, tourists visiting Nassau from around
the world, the Caribbean Basin and the United States and Canada.


JRSE has submitted a 513(g) application with the Food and Drug Administration
for non-medical use of our patented technology. Specifically, with this
submission we are seeking permission to use Jacobson Resonance in the form of
extremely weak but unchanging physiologic magnetic fields for a "Non-Invasive
Resonator System For Relaxation." As with all submissions to FDA, the process
will take a number of months, and there is no assurance that the application
will be approved.


ITEM 6. Exhibits and Reports on Form 8-K

(a)  Exhibits

10.10--  Agreement, dated August 26, 2003, between Jacobson Resonance
         Enterprises, Inc. and CSB5 Management Company Limited.

31--     Certification of Dr. Jerry I. Jacobson, filed herewith.

32--     Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to
         Section 906 of the Sarbanes-Oxley Act of 2002, filed herewith.

(b) Reports on Form 8-K

None.

                                       8


                                SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                  JACOBSON RESONANCE ENTERPRISES, INC.

                                  /S/ Jerry I. Jacobson
                                  ---------------------
                                  Dr. Jerry I. Jacobson, Chief Executive Officer
                                   and Principal Financial Officer

                                    DATE: November 14, 2003
                                    ---------------------`