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**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 June 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                                   August 15, 2003
     -------                                 -----------------

Common stock, $ 0.001 par value                  80,583,475

                                       1

                      JACOBSON RESONANCE ENTERPRISES, INC.

                                TABLE OF CONTENTS

                                                                        Page No.

PART I.    FINANCIAL INFORMATION

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

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

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

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

     Notes to Financial Statements (Unaudited).............................F6-13

ITEM 2 - Management's Discussion and Analysis or Plan of Operation...........3-5

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

PART II - OTHER INFORMATION

ITEM 2 - CHANGES IN SECURITIES.................................................6

ITEM 5 - OTHER INFORMATION.....................................................6

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

         Signatures............................................................7

**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 six month period ended June
30, 2003 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)

                                                                      June 30,
                                                                        2003
                                                                    ------------
                                     ASSETS

Property, plant and equipment - net                                      12,686

Other assets:
    Deferred financing costs - net                                        1,206
    Deposits                                                              1,395
                                                                    ------------
      Total Other Assets                                                  2,601
                                                                    ------------
TOTAL ASSETS                                                           $ 15,287
                                                                    ============
                    LIABILITIES AND STOCKHOLDERS' DEFICIENCY

Current Liabilities:
    Notes payable                                                     $ 245,000
    Accounts payable                                                    462,422
    Accrued expenses                                                    224,125
    Litigation settlement payable                                       995,000
    Deposits on common stock to be issued                                63,500
    Due to related party                                                 47,788
    Due to officer/shareholder                                          164,550
    Deferred income                                                      16,667
                                                                    ------------
       Total Current Liabilities                                      2,219,052

Long -Term Debt:
    Debentures payable, face value of $25,000
       (Net of beneficial conversion feature
        and costs of $4,812)                                             20,188
    Deferred income                                                       4,166
                                                                    ------------

      Total Long-Term Debt                                               24,354
                                                                    ------------
       Total Liabilities                                              2,243,406
                                                                    ------------
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 74,170,657 shares                 74,171
    Additional paid in capital                                       10,452,092
    Deficit                                                         (12,753,012)
                                                                    ------------
                                                                     (2,226,719)
Common stock in treasury, at cost (600,000 shares)                         (600)
Subscriptions receivable                                                   (800)
                                                                    ------------
       Total Stockholders' Deficiency                                (2,228,119)
                                                                    ------------
       Total Liabilities and Stockholders' Deficiency                  $ 15,287
                                                                    ============

                            See accompanying notes.

                                      F-2
**JACOBSON RESONANCE ENTERPRISES, INC.**
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)

                                         Six Months Ended             Three Months Ended
                                             June 30,                      June 30,
                                         2003         2002            2003          2002
                                    -----------  -----------      ------------   -----------
Revenue                             $   57,672   $   68,785       $    4,167     $   11,384
                                    -----------  -----------      ------------   -----------
Costs and expenses:
    General and administrative         299,894      787,852          102,197        327,342
    Research and development                -        60,042               -          17,520
                                    -----------  -----------      ------------   -----------
       Total Operating Expenses        299,894      847,894          102,197        344,862
                                    -----------  -----------      ------------   -----------
    Loss from operations              (242,222)    (779,109)         (98,030)      (333,478)

Other (expense):
    Interest expense                   (30,540)     (99,195)         (18,215)       (40,598)
                                    -----------  -----------      -----------    -----------
Net loss                            $ (272,762)  $ (878,304)      $ (116,245)    $ (374,076)
                                    ===========  ===========      ===========    ===========
Loss per common share - basic       $       -    $    (0.01)      $       -      $    (0.01)
                                    ===========  ===========      ===========    ===========
Loss per common share - diluted     $       -    $    (0.01)      $       -      $    (0.01)
                                    ===========  ===========      ===========    ===========
Weighted average number of
 common shares outstanding - basic
 and diluted                        73,567,095   59,317,238       73,928,465     61,013,845
                                    ===========  ===========      ===========    ===========

                            See accompanying notes.

                                      F-3
**JACOBSON RESONANCE ENTERPRISES, INC.
                             STATEMENT OF CASH FLOWS**
                                   (Unaudited)
                                                            Six Months Ended
                                                                 June 30,
                                                           2003          2002
                                                        -----------  -----------
Cash flows from operating activities:
     Net loss                                           $ (272,762)  $ (878,304)
     Adjustments to reconcile net loss to
      net cash flows used in operating:
     Depreciation                                            1,616       19,830
     Amortization of debt discount                           2,850       21,923
     Charge to operations of amounts due
       from officer/shareholder                                 -        50,000
     Fair value of common stock issued
       for services                                             -       176,704
     Fair value of common stock issued
       for interest expense                                 20,925       69,103
     Fair value of options issued                               -        25,739
     Fair value of common stock issued
       for financing costs                                      -        29,170
     Non- cash non-employee stock-based
       compensation                                         65,350           -
     Non-cash interest expense
     Other non-cash items
Changes in operating assets and liabilities                 75,191      141,140
                                                        -----------  -----------
Net Cash Used in Operating Activities                     (106,830)    (344,695)
                                                        -----------  -----------
Cash flow from financing activities:
     Payment of note payable                                    -       (25,000)
     Proceeds from issuance of debentures                       -        90,000
     Financing costs                                            -
     Proceeds from common stock to be issued                71,000       60,420
     Proceeds from issuance of common
       stock                                                11,650      100,725
     Proceeds from officer/stockholder                          -       118,550
     Proceeds from note payable                             20,000           -
                                                        -----------  -----------
Net Cash Provided by Financing Activities                  102,650      344,695
                                                        -----------  -----------

                            See accompanying notes.

                                      F-4
**JACOBSON RESONANCE ENTERPRISES, INC.
                             STATEMENT OF CASH FLOWS**
                                   (Unaudited)
                                                            Six Months Ended
                                                                June 30,
                                                           2003           2002
                                                        -----------  -----------
Net Increase (decrease) in Cash and
   Cash Equivalents                                         (4,180)          -
Cash and Cash Equivalents-Beginning
   of Period                                                 4,180           -
                                                        -----------  -----------
Cash and Cash Equivalents-End of of Period              $       -    $       -
                                                        ===========  ===========
Noncash Investing and Financing Activities

Issuance of common stock paid in advance                $   71,000   $       -
                                                        ===========  ===========
Issuance of common stock for services                   $   65,350   $   71,148
                                                        ===========  ===========
Issuance of common stock for financing costs            $       -    $   29,170
                                                        ===========  ===========
Issuance of common stock as discount on debentures      $       -    $   17,940
                                                        ===========  ===========
Changes in operating assets and liabilities
    Receivable                                          $       -    $   (6,414)
    Prepaid expenses and other                              51,390       35,548
    Accounts payable and accrued expenses                   38,031      117,006
    Due to related party                                   (35,063)          -
    Litigation settlement payable                               -        (5,000)
    Deferred income                                         20,833            -
                                                        -----------  -----------
                                                        $   75,191   $  141,140
                                                        ===========  ===========

                            See accompanying notes.

                                       F-5

**JACOBSON RESONANCE ENTERPRISES, INC
                          NOTES TO FINANCIAL STATEMENTS**

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, Jacobson 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 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.

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 $12,480,251 since its inception in 1996 and has
continued to incur losses and negative cash flows from operations through June
30, 2003. As of June 30, 2003, the Company has a working capital deficit of
approximately $2,219,000 million. 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.

                                      F-6

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.

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. At June 30,
2003, the Company was in default on the balance of these notes.

                                      F-7

Under the terms of the notes, in the event of default, the note holder has 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 state that the note holders
can 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 are paid in full.

As of June 30, 2003, the Company had received $8,150 for 815,000 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 $20,925 and $68,953 for the six months
ended June 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.

The Company also received a 60 day note from a stockholder on April 4, 2003, in
the amount of $20,000. The Company is required to issue 75,000 shares of the
Company common stock in connection with the loan. At June 30, 2003, the Company
was in default on this note. The shares have not been issued. Interest expense
in the amount of $4,500 has been accrued as the value of these shares and is
included in the statement of operations for the six months ended June 30, 2003.

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

7.       CONVERTIBLE DEBENTURES
         ----------------------

In September 2002, the Company issued $25,000 in convertible debentures (as part
of a funding agreement with Techinvest) 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 $2,850 and $1,425 of
amortization of debt discount for the six and three months ended June 30, 2003.

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

                                      F-8

8.       DUE TO RELATED PARTY
         --------------------

The Company receives royalties from an entity owned by a Director. For the six
months ended June 30, 2003 and 2002 the Company received royalties from the
related party of approximately $54,000 and $-0-, which represented 100% and 0%
of revenues, respectively. As of June 30, 2003, the Company owed the related
party $47,788.

9.       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 June 30, 2003.

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 16,782,500 shares were
outstanding as of June 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                   Six Months Ended
                            June 30,                            June 30,
                            --------                            --------
                     2003              2002                2003          2002
                 -----------       -----------         -----------   ----------
NET LOSS:
   As reported   $ (116,245)       $ (374,076)         $ (272,762)   $ (878,304)

   Proforma        (116,245)         (374,076)           (272,762)     (878,304)

BASIC AND DILUTED
 LOSS PER SHARE:
   As reported   $       -         $    (0.01)         $       -     $    (0.01)

   Proforma      $       -         $    (0.01)         $       -     $    (0.01)

                                       F-9

10.      STOCKHOLDERS' DEFICIENCY
         ------------------------

During the six months ended June 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 six months ended June 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 six months ended June 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 270,000 shares
of common stock were issued during the six months ended June 30, 2002 relating
to 2002 transactions. The Company recorded $45,623 of interest expense for the
six months ended June 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. See
Note 7.

                                      F-10

During the three months ended March 31, 2002, the Company entered into private
sales of 1,008,333 shares of common stock at $.15 to $.16 per share, an
aggregate of $157,500 (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 six months ended June 30, 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.

During the six months ended June 30, 2003, the Company issued 1,685,000 shares
of common stock for services of $65,350 (valued at $.001 to $.06 per share)
which is included in general and administrative expenses in the Company's
statement of operations for the six months ended June 30, 2003.

During the six months ended June 30, 2003, the Company entered into a private
sales of 815,000 shares of common stock at $.01 to $.014 per share, aggregate of
$11,650. In connection with the private sales, the Company issued warrants to
purchase 200,000 shares of common stock of the Company at $.20 per share (valued
at $4,624) 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 six months ended June 30, 2003, the Company issued 1,500,000 shares
of the Company's common stock for funds received ($22,000) in 2002.

11.      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.

                                      F-11

12.  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.

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 June 30, 2003,
$25,000 has been received with the remaining balance due no later than October
4, 2003. For the six and three month period ended June 30, 2003 the Company
recorded $4,167 of license fee revenue.

13.  Accounting Pronouncements
     -------------------------

In August 2001, the FASB issued SFAS No. 143 "Accounting for Asset Retirement
Obligations". SFAS No. 143 addresses financial accounting and reporting for
obligations and costs associated with the retirement of tangible long-lived
assets. The Company adopted SFAS 143 on January 1, 2003. The adoption of SFAS
No. 143 did not have a material impact on the Company's result of operations or
financial position.

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.

                                      F-12

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 yea r 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.

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 is currently evaluating the provisions of SFAS No. 150 and will
determine the impact, if any, the adoption will have on the Company's financial
statements.

14       SUBSEQUENT EVENT
         ----------------

On August 12, 2003, the Company entered into a consulting services agreement
with Eastern Consulting Corporation for a period of one year. Compensation for
the services is $350,000 and will be paid with 144 restricted shares of the
Company's common stock.

                                      F-13

**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 $273,000 for the six months ended June 30, 2003.
Of those amounts, approximately $213,000 and $65,000, 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 June 30, 2003, compared to Three Months Ended June 30, 2002

The net loss decreased by approximately $258,000 from approximately $374,000 in
2002 to approximately $116,000 for the three months ended June 30, 2003.

The items of significant decrease in the three months ended June 30, 2003 over
the comparable period of the prior year were a decrease in general and
administrative expense from approximately $327,000 in 2002 to approximately
$102,000 for the three months ended June 30, 2003, and a decrease in net
interest expense from approximately $41,000 in 2002 to approximately $18,000 for
the three months ended June 30, 2003.

During 2003 interest expense was approximately $18,000 compared to interest
expense of approximately $41,000 for the three months ended June 30, 2002. The
decrease was due to reduced value of our common stock issued in payment of
interest on our borrowings.

We did not incur costs for research and development in the three months ended,
June 30, 2003. These costs were approximately $17,000 for the three months
ended June 30, 2002.

General and administrative expenses decreased by approximately $225,000 in 2003
from 2002, primarily due to reduced compensation costs.

                                       3

Six Months Ended June 30, 2003, compared to Six Months Ended June 30, 2002

The net loss decreased from approximately $878,000 in 2002 to approximately
$272,000 for the six months ended June 30, 2003.

The items of significant decrease in the six months ended June 30, 2003 over
the comparable period of the prior year were a decrease in general and
administrative expense from approximately $788,000 in 2002 to approximately
$300,000 for the six months ended June 30, 2003, and a decrease in
interest expense from approximately $99,000 in 2002 to approximately
$30,000 for the six months ended June 30, 2003.

We did not incur costs for research and development in the six months ended,
June 30, 2003.These costs were approximately $60,000 for the six months
ended June 30, 2002.

During 2003 interest expense was approximately $30,000 (including amortization
of $4,750 of debt costs) compared to interest expense of approximately
$99,000 for the six months ended June 30, 2002. The decrease was due to reduced
value of our common stock issued in payment of interest on our borrowings.

General and administrative expenses decreased approximately $488,000 in 2003
from 2002. Professional fees decreased by approximately $122,000 due to reduced
transactional costs of legal and accounting. Compensation decreased by
approximately $260,000. Other operating costs decreased by approximately
$106,000. Compensation decreased due to reductions in the number of full-time
employees, stock issued to employees and loans charged to compensation.

During the year ended December 31, 2002, as a result of an impairment review,
the Company 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 asseses 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

We have received approval and a CE-Mark issuance from the European Union, thus
allowing distribution and commercialization of our medical resonators. Marketing
and distribution plans through AMEVISA, SARL and BIORES MEDICAL, S.L. (a Serrato
Enterprises company) are currently on schedule. We have also received approval
by Health Canada licensing authorities for commercialization and distribution of
medical resonators, and said license now covers "reduction of pain of arthritic
conditions". Bio Resonance Technology, Inc., now operates a pain center in
Winnipeg.

Currently, Serrato Enterprises LLC developing additional distribution and
marketing plans to cover the other European Union countries in 2003 and 2004.

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.

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 June 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
six months ended June 30, 2003, we received approximately $12,000 from the
sale of securities and the proceeds of a note 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. Note 5 reflects that we are in default. Management and
the parties mutually understood that the 60 days term would not be met prior to
execution of the notes. Although management agrees that the payment is late,
management maintains the default is only technical since the contemplated late
penalty provision entitles us to a roll over extension provision and entitles
the holders to receive options to purchase shares of our common stock. Both
parties have agreed upon entering this note that the roll over provision would
be used. Note 6 also refers to the fact that we issued a 60 day note to a
stockholder on April 4, 2003, in the amount of $20,000, to evidence a loan to us
in that amount. We are required to issue 75,000 shares of the Company's common
stock in connection with the loan. At June 30, 2003, the Company was in default
on this note. The shares have not been issued. Interest expense in the amount of
$4,500 has been accrued as the value of these shares and is included in the
statement of operations for the six months ended June 30, 2003.

                                       5
**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.

                           **PART II. Other Information.****ITEM 2. Changes in Securities**

(c) Recent Sales of Unregistered Securities

------------------ ---------------------------------- ----------------- ---------------- ---------------------
1/22/03            700,000 shares of Common Stock     Private Investor        NA         $.014285/NA
                   and two-year warrants to
                   purchase 200,000 shares of
                   common stock at an exercise
                   price of $.20 per share
------------------ ---------------------------------- ----------------- ---------------- ---------------------
3/05/03            500,000 shares of Common Stock     Private Investor        NA         $.03/NA
                   and two-year warrants to
                   purchase 300,000 shares of
                   common stock at an exercise
                   price of $.20 per share
------------------ ---------------------------------- ----------------- ---------------- ---------------------
4/04/03            $20,000 principal amount of        Private Investor        NA         $20,000/NA
                   Notes due in 60 days
------------------ ---------------------------------- ----------------- ---------------- ---------------------
4/17/03            250,000 shares of Common Stock     Private Investors       NA         $.01/NA
                   and two-year warrants to
                   purchase 125,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- ----------------- ---------------- ---------------------
4/19/03            50,000 shares of Common Stock     Private Investor         NA         $.01/NA
                   and two-year warrants to
                   purchase 25,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- ----------------- ---------------- ---------------------

5/12/03            500,000 shares of Common Stock     Private Investor        NA           $.01/NA
                   and two-year warrants to
                   purchase 250,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- ----------------- ----------------  ---------------------

5/13/03            500,000 shares of Common Stock     Private Investor        NA             $.01/NA
                   and two-year warrants to
                   purchase 250,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- ----------------- ----------------   ---------------------
5/20/03            1,000,000 shares of Common Stock     Private Investor       NA            $.01/NA
                   and two-year warrants to
                   purchase 500,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- -----------------   ----------------  --------------------
5/21/03            100,000 shares of Common Stock     Private Investor         NA             $.01/NA
                   and two-year warrants to
                   purchase 50,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- -----------------   ----------------   -------------------
5/23/03            500,000 shares of Common Stock     Private Investor         NA             $.01/NA
                   and two-year warrants to
                   purchase 250,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- -----------------   ---------------- --------------------
5/27/03            500,000 shares of Common Stock     Private Investor         NA             $.01/NA
                   and two-year warrants to
                   purchase 250,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- -----------------   ---------------- ---------------------
5/27/03            500,000 shares of Common Stock     Private Investors        NA            $.01/NA
                   and two-year warrants to
                   purchase 250,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- -----------------   ---------------- ---------------------
5/30/03            500,000 shares of Common Stock     Private Investors        NA            $.01/NA
                   and two-year warrants to
                   purchase 250,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- -----------------   ---------------- ---------------------
6/10/03            100,000 shares of Common Stock     Private Investors        NA            $.01/NA
                   and two-year warrants to
                   purchase 50,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- -----------------   ---------------- ---------------------
6/10/03            100,000 shares of Common Stock     Private Investors        NA            $.01/NA
                   and two-year warrants to
                   purchase 50,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- -----------------   ---------------- ---------------------

6/16/03            500,000 shares of Common Stock     Private Investors        NA            $.01/NA
                   and two-year warrants to
                   purchase 250,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- -----------------   ---------------- ---------------------
6/25/03            300,000 shares of Common Stock     Private Investors        NA            $.01/NA
                   and two-year warrants to
                   purchase 150,000 shares of
                   common stock at an exercise
                   price of $.05 per share
------------------ ---------------------------------- -----------------   ---------------- ---------------------

**ITEM 5. Other Information.**

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

**ITEM 6. Exhibits and Reports on Form 8-K**

(a)  Exhibits

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

On April 10, 2003, the Company filed a current report on Form 8-K with regard to
a change in the Company's certifying accountants (Item 4).

                                       6
**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: August 18, 2003
                                    ---------------------
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