<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, 2003.

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, 2003, there were outstanding 27,265,517 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.

                           FINANCIAL STATEMENTS
                                (UNAUDITED)

TABLE OF CONTENTS

                                                                 Page
                                                                 ____

Part I Financial Information

Item 1. Financial Statements

Balance Sheets
June 30, 2003(Unaudited) and December 31, 2002...............      3

Statements of Operations (Unaudited)
For the three months and six months ended
June 30, 2003 and 2002.......................................      4

Statements of Cash Flows (Unaudited)
For the six months ended June 30, 2003 and 2002..............      5

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

Item 2. Management's Discussion and Analysis of Financial
        Condition and Results of Operations...................     10

Item 3. Controls and Procedures...............................     10

Part II Other Information

Item 1. Legal Proceedings.....................................     15

Item 2. Change in Securities..................................     15

Item 3. Defaults by the Company on its
        Senior Securities ....................................     16

Item 4. Submission of Matter to a Vote
        Of Security Holders ..................................     16

Item 5. Other Information .....................................    17

Item 6. Exhibits and Reports on Form 8-K....,,.................    17

Signatures.....................................................    17





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EMERGENCY FILTRATION PRODUCTS, INC.
Balance Sheets
June 30, 2003 and December 31, 2002
                                                   June 30,     December 31,
                                                     2003           2002
                                                  (Unaudited)
                                                 ------------   ------------
ASSETS
CURRENT ASSETS
 Cash and cash equivalents                      $     295,233  $      21,424
 Accounts receivable, net of allowance for
  doubtful accounts of $7,700 and $8,500              172,563         16,135
 Prepaid expenses and other                            61,410         49,384
 Inventory                                            111,294         59,382
                                                 ------------   ------------
   Total Current Assets                               640,500        146,325
                                                 ------------   ------------
PROPERTY AND EQUIPMENT
 Molds                                                144,223        112,850
 Furniture and equipment                               81,860         45,292
 Accumulated depreciation                            (130,284)      (115,343)
                                                 ------------   ------------
   Total Property and Equipment                        95,799         42,799
                                                 ------------   ------------
OTHER ASSETS
 Deposits                                               8,287          3,462
 Patents and acquired technology, net
  of accumulated amortization of
  $55,648 and $33,031                               1,113,174        157,813
                                                 ------------   ------------
   Total Other Assets                               1,121,461        161,275
                                                 ------------   ------------
TOTAL ASSETS                                    $   1,857,760  $     350,399
                                                 ============   ============
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES
 Accounts payable - unrelated parties           $      96,311  $     153,231
 Accounts payable - related parties                   280,707        366,289
 Accrued expenses                                      30,615         30,615
 Note payable                                           6,451         42,272
                                                 ------------   ------------
   Total Current Liabilities                          414,084        592,407
                                                 ------------   ------------
STOCKHOLDERS' EQUITY (DEFICIT)
 Common stock, par value $0.001; authorized
  50,000,000 shares; 27,265,517 and 17,467,700
  shares issued and outstanding, respectively          27,265         17,468
 Additional paid in capital                         9,269,414      7,223,517
 Accumulated deficit                               (7,853,003)    (7,482,993)
                                                 ------------   ------------
   Total Stockholders' Equity (Deficit)             1,443,676       (242,008)
                                                 ------------   ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
 (DEFICIT)                                      $   1,857,760  $    350,399
                                                 ============   ============

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, 2003 and 2002
(Unaudited)

                      For the Three Months Ended   For the Six Months Ended
                                June 30,                    June 30,
                           2003          2002          2003          2002
                       -----------   -----------   -----------   -----------
NET SALES             $    271,502  $     26,221  $    372,458  $    121,965

COSTS AND EXPENSES
 Cost of sales             178,823        18,160       242,924        77,426
 Depreciation and
  amortization              26,970        10,065        37,559        19,939
 Research and
  development                2,027             -         3,771           700
 General and
  administrative           215,040       153,779       455,578       365,637
                       -----------   -----------   -----------   -----------
   Total Expenses          422,860       182,004       739,832       463,702
                       -----------   -----------   -----------   -----------
LOSS FROM OPERATIONS      (151,358)     (155,783)     (367,374)     (341,737)
                       -----------   -----------   -----------   -----------

 Interest expense           (2,174)       (1,727)       (2,636)       (2,152)
                       -----------   -----------   -----------   -----------

NET LOSS              $   (153,532) $   (157,510) $   (370,010) $   (343,889)
                       ===========   ===========   ===========   ===========
BASIC LOSS
 PER SHARE            $      (0.01) $      (0.01) $      (0.02) $      (0.03)
                       ===========   ===========   ===========   ===========
WEIGHTED AVERAGE
 NUMBER OF COMMON
 SHARES OUTSTANDING     24,513,947    11,988,425    21,147,327    11,848,320
                       ===========   ===========   ===========   ===========







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, 2003 and 2002
(Unaudited)
                                                     2003           2002
                                                 ------------   ------------
CASH FLOWS FROM OPERATING ACTIVITIES:
 Net loss                                       $    (370,010) $    (343,889)
 Adjustments to reconcile net loss to net
  cash (used in) operating activities:
  Depreciation and amortization                        37,559         19,939
  Common stock issued for services                    187,720         55,500
 Changes in operating assets and liabilities:
  Accounts receivable                                (156,428)        (6,930)
  Prepaid expenses and other                          (26,825)        59,881
  Inventory                                           (51,912)        10,601
  Deposits                                             (4,825)           679
  Accounts payable and accounts payable
   - related parties                                  143,568         42,500
  Accrued expenses                                          -             (9)
                                                 ------------   ------------
   Net Cash Used In Operating Activities             (241,153)      (161,728)
                                                 ------------   ------------
CASH FLOWS FROM INVESTING ACTIVITIES:
 Acquisition of property and equipment                (67,941)        (2,290)
 Patent and technology costs                         (132,979)          (940)
                                                 ------------   ------------
   Net Cash Used In Investing Activities             (200,920)        (3,230)
                                                 ------------   ------------
CASH FLOWS FROM FINANCING ACTIVITIES:
 Proceeds from stock issuances                      1,182,324              -
 Stock offering costs                                (170,350)             -
 Advances from shareholders                                 -        186,900
 Repayments of advances from shareholders            (275,070)             -
 Payment on notes payable                             (21,022)       (14,651)
                                                 ------------   ------------
   Net Cash Provided by Financing Activities          715,882        172,249
                                                 ------------   ------------

NET INCREASE IN CASH AND CASH EQUIVALENTS             273,809          7,291

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD       21,424              -
                                                 ------------   ------------
CASH AND CASH EQUIVALENTS AT END OF PERIOD      $     295,233  $       7,291
                                                 ============   ============

SUPPLEMENTAL CASH FLOW INFORMATION
Cash Paid For:
 Interest                                       $       2,636  $       2,152

Non-Cash Investing and Financing Activities
 Common stock issued for services               $     187,720  $      55,500
 Common stock issued for accounts payable       $      56,325  $      72,900
 Non-cash reduction in note payable             $      14,799  $           -
 Common stock issued for patent rights and
  acquired technology                           $     845,000  $           -

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, 2003 and December 31, 2002

NOTE 1 - BASIS OF PRESENTATION

The 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,
2002, 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,
2003 and 2002 are not necessarily indicative of the results to be expected for
the full year.

NOTE 2 - LOSS PER SHARE

Following is a reconciliation of the numerators of the basic and diluted loss
per share for the three months and six months ended June 30, 2003 and 2002:

                                     For the Three Months Ended
                                               June 30,
                                          2003          2002
                                      -----------   -----------
Net loss available to
 common shareholders                 $   (153,532) $   (157,510)
                                      ===========   ===========

Weighted average shares                24,513,947    11,988,425

Effect of dilutive securities                   _             _
                                      -----------   -----------
                                       24,513,947    11,988,425
                                      ===========   ===========
Basic loss per share (based
 on weighted average
 shares)                             $      (0.01) $      (0.01)
                                      ===========   ===========




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EMERGENCY FILTRATION PRODUCTS, INC.
Notes to the Financial Statements
June 30, 2003 and December 31, 2002

NOTE 2 - LOSS PER SHARE (Continued)

                                      For the Six Months Ended
                                               June 30,
                                          2003          2002
                                      -----------   -----------
Net loss available to
 common shareholders                 $   (370,010) $   (343,889)
                                      ===========   ===========

Weighted average shares                21,147,327    11,848,320
Effect of dilutive securities                   _             _
                                      -----------   -----------
                                       21,147,327    11,848,320
                                      ===========   ===========
Basic loss per share (based
 on weighted average
 shares)                             $      (0.02) $      (0.03)
                                      ===========   ===========

Weighted average shares issuable upon the exercise of stock options, which
were not included in the above calculations, were approximately 1,545,000 and
6,100,000 in the three month and six month periods ended June 30, 2003 and
2002, respectively, because they were antidilutive.

NOTE 3 - GOING CONCERN

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 significant losses, which have resulted in
an accumulated deficit of $7,853,003 at June 30, 2003.  As discussed in Note
4, the Company has raised approximately $1,011,000 through the issuance of
common shares pursuant to an SB-2 registration during the six months ended
June 30, 2003. These funds have been used to retire outstanding debt, to
acquire additional molds and equipment to be used in operations, and for
ongoing working capital.  Nevertheless, the Company's ability to continue as a
going concern may be dependent upon the success of management's ongoing
business plans which include a) continued product development efforts, and b)
continuing efforts to increase its product sales in the U.S. and
internationally.  For example, during April 2003, the Company entered into an
agreement with a Taiwan based company (the "Contractor") whereby the
Contractor will manufacture, distribute, market and sell the Company's new
environmental mask to the Asian markets.  It is the intent of management to
create additional revenues through the development and sales of its emergency
respiration equipment and to rely upon additional equity financing if required
to sustain operations until revenues are adequate to cover the costs.  The
Contractor has just recently begun production of the environmental masks
discussed above and the Company expects sales to increase during the third
quarter of 2003 as a result of the Contractor's marketing and sales in the
Asian market.

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EMERGENCY FILTRATION PRODUCTS, INC.
Notes to the Financial Statements
June 30, 2003 and December 31, 2002

NOTE 3 - GOING CONCERN (Continued)

Management can offer no assurance with respect to its ability to create
additional revenues, obtain additional equity financing or execute its long-
term business plan. 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

On February 20, 2003, the Company issued 636,000 shares of common stock
pursuant to an S-8 registration valued at $0.22 per share (equal to the market
value on the date of issuance) for legal and other services rendered valued at
$128,920 and in payment of accounts payable totaling $11,000.

Effective April 1, 2003, the Company entered into an "Agreement For Assignment
of Technology" with the President of the Company, whereby the President
assigned all of his rights, title and interest in various technology, patents
and patent applications to the Company.  This agreement also included the
rescission of the 5% royalty included in the original agreement with the
President entered into during 1996 on the original technology. In
consideration of the assignments, the Company issued 3,250,000 shares of
outstanding common stock to the President valued at $0.26 per share (market
value on the date of issuance) plus $130,000 cash, for a total value of
$975,000.  In addition, the President is to receive a 1% royalty on the gross
sales of any and all products utilizing the technology.  The consideration
paid for this technology was approved by the Board of Directors, and the
President abstained from the vote.

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.

In May 2003, the Company issued 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.



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EMERGENCY FILTRATION PRODUCTS, INC.
Notes to the Financial Statements
June 30, 2003 and December 31, 2002

NOTE 4 -STOCK TRANSACTIONS (Continued)

In January 2003, in anticipation of a possible joint marketing or joint
venture with Centrex, Inc. (Centrex), the Company entered into a letter of
intent whereby the Company and Centrex would exchange common shares as
follows:

 - The Company was to issue 450,000 shares of restricted common stock, which
shares were to have "piggyback" registration rights to be included in a
registration of the shares by the Company on Form SB-2.

 - Centrex would issue 300,000 shares of its registered common stock to the
Company.

Upon receipt of the 300,000 shares of Centrex, the Company immediately sold
the shares for gross proceeds of $42,000.  Because of the share price
differences between the two companies, the Company negotiated with Centrex to
enable it to issue a lesser number of shares.  Accordingly, a total of 400,000
shares of common stock were issued to Centrex during May 2003 pursuant to this
agreement.  The Company is recording the issuance of the 400,000 shares at
$42,000 (or $0.105 per share), the cash proceeds received from the immediate
sale of the Centrex shares received in exchange therefor, since there were no
additional services rendered to the Company by Centrex related to the
transaction.

During May 2003, the Company issued an additional 93,334 shares of common
stock valued at $58,800 or $0.63 per share (equal to the market value on the
date of issuance) for legal and other services rendered.

NOTE 5 - CONTINGENCIES

The Company is subject to certain claims and lawsuits arising in the normal
course of business.  In the opinion of management, uninsured losses, if any,
resulting from the ultimate resolution of these matters will not have a
material effect on the Company's financial position, results of operations, or
cash flows.







<PAGE>
<PAGE> 10
                                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.

General
-------
The Company is in the business of producing masks and filters for medical
devices that are 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.

The most valuable asset of the Company is its intellectual property and
technology.  The Company has acquired the rights to certain intellectual
property, which property includes title to the patent on a component of an
emergency CPR assistance device, called a dual-filtered rotary 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.

Critical Accounting Policies and Estimates
------------------------------------------

The Company has capitalized certain costs related to patents and technology
acquired in the second quarter of 2003 based upon the fair market value of the
consideration given up, ie. cash payments made and the undiscounted trade
market value of the common shares issued.  Market value of the common shares
issued was used because the consideration paid for the technology was approved
by the Board of Directors, and the President abstained from the vote.  The
President's holdings of the Company's common stock constituted substantially
less than a controlling interest both before and after this transaction.
Amortization of the resultant asset will be in accordance with SFAS No. 142,
"Goodwill and Other Intangible Assets".


Results of Operations
---------------------
Three Months and Six Months Ended June 30, 2003 compared with 2002
------------------------------------------------------------------
Revenues:  During the three months and six months ended June 30, 2003, the
Company reported revenues of $271,502 and $372,458, respectively, compared to
$26,221 and $121,965, respectively, for the three months and six months ended
June 30, 2002.


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Revenues for the three months ended June 30, 2003 compared to the three months
ended June 30, 2002 increased substantially (935%) because of the substantial
increase in orders from the military due to ongoing international conflicts
such as Iraq.  Revenues for the six months ended June 30, 2003 compared to the
six months ended June 30, 2002 increased by approximately 205% for the same
reasons mentioned above.  The US military has substantially increased their
orders during 2003 due to ongoing international conflicts throughout the world
and the Company is now focusing on a marketing-driven sales effort in order to
increase revenues that will ultimately cover total expenditures. Revenues have
been generated in part from the sale of the emergency CPR assistance device
($54,552 and $18,297 for the three months ended June 30, 2003 and 2002,
respectively, and $105,133 and $59,641 for the six months ended June 30, 2003,
respectively). Additionally, the Company generated revenues related to
Superstat, a modified collagen hemostat, for which they have exclusive
distribution rights to the U.S. government and military.  Revenues related to
Superstat were $216,950 and $7,924 for the three months ended June 30, 2003
and 2002, respectively, and $267,325 and $62,324 for the six months ended June
30, 2003, respectively.  This represents a significant increase from 2002 to
2003 for Superstat as a result of the increased orders from the US military as
described above.  The Company recently secured exclusive distribution rights
to foreign governments and militaries for SuperStat.  For the three months
ended June 30, 2003 and 2002, the approximate percentage of revenues derived
from sales to the military was 95% and 89%, respectively. For the six months
ended June 30, 2003 and 2002, the approximate percentage of revenues derived
from sales to the government was 95% and 88%, respectively.  In addition to
competition from other companies that may offer alternative products, the
Company's sales to the military are dependent on the current state of foreign
affairs and international conflicts with a U.S. military presence and the
resulting perceived need for emergency products in the US military.

Cost of Sales:  During the three months and six months ended June 30, 2003,
the Company reported cost of sales of $178,823 and $242,924, respectively,
compared to $18,160 and $77,426, respectively, for the three months and six
months ended June 30, 2002.  This represents an increase of approximately 885%
for the three months ended June 30, 2003 and approximately 214% for the six
months ended June 30, 2003.  These increases are relatively consistent with
the increases in revenues for the same periods with a slight increase due to
minor margin decreases.  Costs as a percentage of sales were 66% and 65% for
the three months and six months ended June 30, 2003, respectively, compared to
69% and 63% for the three months and six months ended June 30, 2002,
respectively.  The Company expects costs as a percentage of sales to be
approximately 62%-67% 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 royalties paid on revenues generated.

Operating Expenses:  General and administrative expenditures increased for the
three months ended June 30, 2003 as compared to the three months ended June
30, 2002 to $214,807 from $153,779, representing an increase of approximately
40%.  General and administrative expenditures increased for the six months
ended June 30, 2003 as compared to the six months ended June 30, 2002 to
$455,345 from $365,637, representing an increase of approximately 25%.


<PAGE>
<PAGE> 12

These increases from 2002 to 2003 were primarily due to various common stock
issuances to outside consultants for services rendered during 2003. Common
stock issued for services totaled $187,720 for the six months ended June 30,
2003 compared to $55,500 for the six months ended June 30, 2002. The Company
does not expect to incur additional significant consulting expenses through
the issuance of common stock in the near future.  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: Future research and development costs for testing,
validation and FDA filings for potential new products are estimated to range
from $25,000 to $35,000 during the next twelve months.  An additional $60,000
to $70,000 may also be required for the commission of molds for these
potential new products.  These R&D costs are expected to be paid using the
funds raised during early 2003.  The significant components of the Company's
planned research and development activities include prototype development and
materials, governmental filings and laboratory testing.

Depreciation and amortization expense: Depreciation and amortization expense
increased from $10,065 and $19,939 to $26,970 and $37,559 during the three
months and six months ended June 30, 2002 and 2003, respectively.  Cost of
sales, general and administrative expenses, and research and development cost
captions do not include any depreciation or amortization costs for each period
presented.

Other Expense:  Interest expense increased from $1,727 and $2,152 to $2,174
and $2,636 during the three months and six months ended June 30, 2002 and
2003, respectively.  The Company's interest expense is primarily due to the
Company's financing of its liability insurance.

Net loss:  We had a net loss of $153,532 for the three months ended June 30,
2003 or $0.01 per share based on a weighted average of 24,513,947 common
shares outstanding, compared to a net loss of $157,510 for the three months
ended June 30, 2002 or $0.01 per share based on a weighted average of
11,988,425 common shares outstanding.  We had a net loss of $370,010 for the
six months ended June 30, 2003 or $0.02 per share based on a weighted average
of 21,147,327 common shares outstanding, compared to a net loss of $343,889
for the six months ended June 30, 2002 or $0.03 per share based on a weighted
average of 11,848,320 common shares outstanding.

Income taxes:  At December 31, 2002, the Company had net operating loss
carryforwards for federal income tax purposes of approximately $4,448,000 that
may be offset against future taxable income.  These operating loss
carryforwards expire in the years 2009 through 2022.  No tax benefit has been
reported in the financial statements because the potential tax benefits of the
net operating loss carryforwards are offset by a valuation allowance of the
same amount.  In addition, the Company is incorporated in the State of Nevada,
which has no corporate state income tax.  Accordingly, no provision for state
income tax expense or benefit has been recorded in these financial statements.




<PAGE>
<PAGE> 13

Liquidity and Capital Resources
-------------------------------

Since inception, revenues have not been adequate to cover operating expenses
and 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 quarter ended June 30, 2003, the Company had offset its
accumulated deficit in this manner.

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 significant losses, which have resulted in
an accumulated deficit of $7,853,003 at June 30, 2003.  Accordingly, in their
report on the Company's latest annual financial statements, its independent
auditors expressed substantial doubt about the Company's ability to continue
as a going concern.

However, the Company raised an aggregate of $1,011,974 (net of $170,350 of
stock offering costs) through the sale of 5,418,483 common shares through June
30, 2003. The Company issued these common shares at prices ranging from $0.18
and $0.40 per share.  In connection with the common share issuances, the
Company also granted 1,940,325 three-year, noncallable warrants to purchase
common stock for each dollar invested, exercisable at prices ranging from
$0.25 to $0.50 per share.  The shares purchased and the shares underlying the
warrants have been included on a registration statement on Form SB-2 which the
Company has filed with the SEC.  See Part II, Item 2, Changes in Securities.

At June 30, 2003, we had working capital of $226,416.  The Company had current
assets of $640,500 consisting of cash and cash equivalents of $295,233,
accounts receivable of $172,563, inventory of $111,294 and prepaid expenses
and other of $61,410.  The Company's remaining assets consist of property and
equipment (net) totaling $95,799, patents and acquired technology, net of
accumulated amortization, totaling $1,113,174 and deposits of $8,287.
Accounts receivable are significantly higher at June 30, 2003 ($172,563) as
compared to December 31, 2002 ($16,135) because of certain revenues generated
in late June 2003 for which cash collections were not received until
subsequent to June 30, 2003.  The accounts receivable, net of the allowance
for doubtful accounts of $7,700 at June 30, 2003 are considered to be fully
collectible.

Current liabilities consist mainly of operating accounts payable totaling
$96,311, as well as advances from related parties and accrued wages to various
officers and employees totaling $280,707.  Accrued expenses totaled $30,615
and a note payable for the Company's liability insurance totaled $6,451 at
June 30, 2003.

Net cash used in operations was $241,153 for the six months ended June 30,
2003.  Net cash used in operations was $161,728 for the six months ended June
30, 2002.  Cash used by our operating activities for the periods ended June
30, 2003 and 2002 was funded primarily by the issuance of common stock for
cash and shareholder advances.





<PAGE>
<PAGE> 14

Net cash used in investing activities was $200,920 and $3,230 for the six
months ended June 30, 2003 and 2002, respectively, due to the acquisition of
additional molds and property and equipment needed for operations, acquired
patents and technology from the Company's President, and additional
expenditures related to the Company's existing patents.

For the six months ended June 30, 2003, cash from financing activities totaled
$715,882 consisting of $1,182,324 in proceeds on the issuance of common stock
less stock offering costs of $170,350, repayment of shareholder advances
totaling $275,070 and payments on the outstanding note payable totaling
$21,022.  For the six months ended June 30, 2002, cash from financing
activities totaled $172,249, primarily from advances from shareholders
totaling $186,900 and payments on the note payable totaling $14,651.

Due to the increased exposure and liability for public entities, the cost of
the Company's 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 $70,000 annually.  The
Company does not expect the cost to increase substantially, however, over the
next few years.

Product development efforts remain an important priority of the Company's
business plans, but the Company's primary focus is on increasing its product
sales.  It is the intent of management to create additional revenues through
the development and sales of its emergency respiration equipment and to rely
upon additional equity financing if required to sustain operations until
revenues are adequate to cover the costs.  Management can offer no assurance
with respect to its ability to create additional revenues, obtain additional
equity financing or execute its long-term business plan.

During our current fiscal year 2003, we expect that we will be able to
continue measures that will (i) reduce unnecessary cash outflows, (ii)
increase revenues through our improved marketing effort; and (iii) raise
additional needed working capital, if required, through the issuance of our
stock for services and cash, or other equity or debt financing.

The Company's cost-efficient business model 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.

Impact of Inflation
-------------------
At this time, we do not anticipate that inflation or changes in interest rates
will have a material impact on our current or foreseeable future operations.






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<PAGE> 15

                              ITEM 3.
                       CONTROLS AND PROCEDURES

(a) Evaluation of disclosure controls and procedures. The Principal Executive
Officer and the Principal Financial Officer have concluded that our disclosure
controls and procedures (as defined in Sections 13a-14(c) and 15d-14(c) of the
Securities Exchange Act of 1934, as amended) are adequate, based on our
evaluation of such disclosure controls and procedures on August 5, 2003.

(b) Changes in internal controls. There were no significant changes in our
internal controls or in other factors that could significantly affect these
controls subsequent to the date of their evaluation.

PART II
                         OTHER INFORMATION
                     ITEM 1 - LEGAL PROCEEDINGS

The Company is subject to certain claims and lawsuits arising in the normal
course of business.  In the opinion of management, uninsured losses, if any,
resulting from the ultimate resolution of these matters will not have a
material effect on the Company's financial position, results of operations, or
cash flows.

                 ITEM 2 - CHANGES IN SECURITIES

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.

During May 2003, the Company issued 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 this 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.

In January 2003, in anticipation of a possible joint marketing or joint
venture with Centrex, Inc. (Centrex), the Company entered into a letter of
intent whereby the Company and Centrex exchanged common shares as follows:


<PAGE>
<PAGE> 16

Upon receipt of 300,000 shares of Centrex, the Company immediately sold the
shares for gross proceeds of $42,000.  Because of the share price differences
between the two companies, the Company negotiated with Centrex to enable it to
issue a lesser number of shares.  Accordingly, a total of 400,000 shares of
common stock were issued to Centrex during May 2003 pursuant to this
agreement.  The Company is recording the issuance of the 400,000 shares at
$42,000 (or $0.105 per share), the cash proceeds received from the immediate
sale of the Centrex shares received in exchange therefore, since there were no
additional services rendered to the Company by Centrex related to the
transaction.

During May 2003, the Company issued an additional 93,334 shares of common
stock valued at $58,800 of $0.63 per share (equal to the market value on the
date of issuance) for legal and other services rendered.

The shares issued in the foregoing transactions were issued in reliance on the
exemption from registration and prospectus delivery requirements of the Act
set forth in Section 3(b) and/or Section 4(2) of the Securities Act and the
regulations promulgated thereunder.  However, the Company was required,
pursuant to the above agreements, to file a registration statement with the
United States Securities & Exchange Commission on Form SB-2, to register the
above mentioned shares and use its best efforts to ensure that such
registration statement is declared effective within 90 days from the filing
date.  The Company has filed the registration statement with the SEC although
it has not yet been declared effective.

Effective April 1, 2003, the Company entered into an "Agreement For Assignment
of Technology" with the President of the Company whereby the President
assigned all of his rights, title and interest in various technology, patents
and patent applications to the Company.  In consideration of the assignments,
the Company issued 3,250,000 shares of outstanding common stock to the
President valued at $0.26 per share (equal to the market price of the shares
on the date of issuance) plus $130,000 cash, for a total value of $975,000.
The officer is to receive a 1% royalty on the gross sales of any and all
products utilizing the technology.

The shares issued in the foregoing transaction were issued in reliance on the
exemption from registration and prospectus delivery requirements of the Act
set forth in Section 3(b) and/or Section 4(2) of the Securities Act and the
regulations promulgated thereunder.


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

           ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
  None.

           ITEM 5 - OTHER INFORMATION
  None.






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<PAGE> 17

                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,
2003:

(1) Current Report on Form 8-K filed May 21, 2003 reporting the resignation of
PricewaterhouseCoopers, LLP as the Company's independent accountants.

(2) Current Report on Form 8-K filed June 19, 2003 reporting the engagement of
Piercy, Bowler, Taylor & Kern to act as the Company's independent accountants.

                                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 14, 2003                 By: /s/Douglas K. Beplate
                                        Douglas K. Beplate, President

 Date:  August 14, 2003                 By: /s/Steve M. Hanni
                                        Steve M. Hanni, CFO