UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB

            [X] Quarterly Report Pursuant to Section 13 or 15(d) of the
                          Securities Exchange Act of 1934
                   For the quarterly period ended June 30, 2002

                                       or
             [ ] Transition Report Pursuant to Section 13 or 15 (d) of
                        the Securities Exchange Act of 1934

                           Commission file No. 0-26809

                       SHARPS ELIMINATION TECHNOLOGIES, INC.
                       -------------------------------------
               (Exact name of registrant as specified in its charter)

               Delaware                               91-1962104
        -------------------                  --------------------------
         (State of incorporation)       (I.R.S. Employer Identification Number)


                         Suite 310, The Pemberton Bldg.
                            744 West Hastings Street
                              Vancouver, B.C. V6C 1A5
                              -----------------------
                (address of principal executive offices) (Zip Code)


                                 (303) 506-1633
                              -------------------
              (Registrant's telephone number, including area code)

                                ASPI EUROPE, INC.
                              312 North 13th Street
                            Oxford, Mississippi 38655
                       ----------------------------------
           Former name and former address if changed since last report

   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 proceeding 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 [ ]


As of August 15, 2002, the Company had 24,648,119 issued and outstanding shares
of common stock.


<PAGE>




                         PART I -- FINANCIAL INFORMATION

ITEM 1.      FINANCIAL STATEMENTS

                      SHARPS ELIMINATION TECHNOLOGIES INC.
                          (FORMERLY ASPI EUROPE, INC.)
                      CONSOLIDATED CONDENSED BALANCE SHEETS

                                                       June 30,
                                                         2002      December 31,
                                                      (Unaudited)      2001
-------------------------------------------------------------------------------
ASSETS
Current Assets
  Cash and cash equivalents                         $    1,213    $      271
-------------------------------------------------------------------------------
Total Current Assets                                     1,213           271

Advances to related party                              108,500             -
-------------------------------------------------------------------------------
Total Assets                                        $  109,713     $     271
===============================================================================

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current Liabilities
  Accounts payable                                  $    7,095    $  195,324
   Due to related parties                               15,050        93,888
   Loan payable                                         50,000       145,209
   Convertible note payable                                  -       146,687
-------------------------------------------------------------------------------
Total Current Liabilities                               72,145       581,108

Total Liabilities                                       72,145       581,108
-------------------------------------------------------------------------------

Stockholders' Equity (Deficit)
  Common stock, $0.001 par value; 50,000,000 shares
   authorized, 8,848,119 and 24,648,119 issued and
   outstanding                                          18,213         8,848
  Additional paid-in capital                         5,660,435     4,525,087
  Accumulated deficit                               (5,631,715)   (5,124,137)
-------------------------------------------------------------------------------

Total Stockholders' Equity (Deficit)                    37,568      (580,837)
-------------------------------------------------------------------------------
Total Liabilities and Stockholders' Deficit         $  109,713      $    271
===============================================================================






      See accompanying notes to consolidated condensed financial statements.


<PAGE>



                      SHARPS ELIMINATION TECHNOLOGIES INC.
                          (FORMERLY ASPI EUROPE, INC.)
                  CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
               FOR THE PERIODS ENDED JUNE 30, 2002 AND JUNE 30, 2001
                                   (Unaudited)

                                          Three Months          Six Months
                                         Ended June 30,        Ended June 30,
                                      ------------------    --------------------
                                       2002        2001     2002          2001

 OPERATING EXPENSES

   General and administrative        $ 512,991   $    --   $536,361   $     --
   Interest expense, net                   375        --      6,686         --
-------------------------------------------------------------------------------

 Total operating expenses              513,366        --    543,047         --
-------------------------------------------------------------------------------

 Loss from continuing operations      (513,366)       --   (543,047)        --
-------------------------------------------------------------------------------

 DISCONTINUED OPERATIONS
   Loss on discontinued operations               (85,778)             (143,952)
   Gain on settlement of debt               --        --     35,469         --

 Net income (loss) from discontinued
   operations                               --   (85,778)    35,469   (143,952)
-------------------------------------------------------------------------------

 Net income (loss)                  $(513,366)  $(85,778) $(507,578) $(143,952)
  =============================================================================

 Net income (loss) per share -
   Continuing Operations               $(0.06)        --     $(0.05)        --
   Discontinued Operations                 --     $(0.01)       Nil     $(0.02)

Net income per share - basic and
  diluted                               (0.06)    $(0.01)    $(0.05)    $(0.02)
-------------------------------------------------------------------------------

Weighted average number of shares of
  common stock outstanding          8,485,111  7,172,647   9,440,184  7,172,647
 ==============================================================================









      See accompanying notes to consolidated condensed financial statements.

<PAGE>


                      SHARPS ELIMINATION TECHNOLOGIES INC.
                          (FORMERLY ASPI EUROPE, INC.)
             CONSOLIDATED CONDENSED STATEMENT OF STOCKHOLDERS' DEFICIT


<TABLE>
<S>                                        <C>         <C>            <C>              <C>            <C>
                                            Common Stock           Additional      Accumulated
                                         Shares       Amount    Paid-in Capital      Deficit         Total
------------------------------------------------------------------------------------------------------------
Sharps Elimination Technologies Inc.
 (formerly ASPi Europe, Inc.)

Balance, December 31, 2001             18,213,147    $ 18,213     $ 4,525,08     $ (5,124,137)   $ (580,837)

Redemption of exchangeable shares     (10,500,000)    (10,500)        10,500                -             -

Conversion of notes payable               189,198         189        189,009                -       189,198

Conversion of convertible note payable    149,385         149        149,236                -       149,385

Conversion of accounts payable            229,722         230        229,492                -       229,722

Issuance of common stock for cash         100,000         100         99,900                -       100,000

Issuance of common stock for services     466,667         467         457,211                       457,678

Net income                                      -           -               -        (507,578)     (507,578)
                   ------------------------------------------------------------------------------------------

Balance, June 30, 2002 (Unaudited)      8,848,119     $ 8,848     $ 5,660,435    $ (5,631,715)    $( 37,568)
                                        =========     =======      ==========    =============    ==========

</TABLE>









      See accompanying notes to consolidated condensed financial statements.



<PAGE>



                      SHARPS ELIMINATION TECHNOLOGIES INC.
                          (FORMERLY ASPI EUROPE, INC.)
                 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
    FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2002 AND JUNE 30, 2001
                                  (Unaudited )

                                        Three Months          Six Months
                                         Ended June 30,        Ended June 30,
                                      ------------------    --------------------
                                       2002        2001      2002          2001

Cash Flows From Operating Activities
Net income (loss)                  $(513,366)   $(85,778) $(507,578)  $(143,952)
Adjustments to reconcile net
 loss to net cash provided by
 (used in) operating activities:
   Gain on settlement of debt             --          --     35,469          --
   Stock based compensation expense  457,678          --    457,678          --
   Change in assets and liabilities:
        Prepaid expenses                  --         500         --       1,630
        Due to related party         (18,450)     27,246   (112,338)     32,814
        Accounts payable                  --      37,442    (68,975)     35,012
   Accrued interest on convertible
     note payable                         --       5,616      2,698       8,699
   Accrued interest on loan payable      375       1,246      3,988       2,178
   Accrued interest on loan receivable    --      (1,973)        --      (1,973)
-------------------------------------------------------------------------------

Net Cash Provided by (Used in)
 Operating Activities                (73,763)    (16,701)  (189,058)    (65,592)

Cash Provided by (Used in)
  Investing Activities
    Increase in Note Receivable           --    (150,000)        --    (150,000)
-------------------------------------------------------------------------------

Net Cash Provided by (Used in)
 Investing Activities                     --    (150,000)        --    (150,000)
-------------------------------------------------------------------------------

Cash Flows From Financing Activities
  Proceeds from issuing common stock      --          --    100,000          --
  Proceeds from loan payable          50,000          --     90,000      50,000
  Proceeds from convertible note payable  --     165,000         --     165,000
-------------------------------------------------------------------------------

Net Cash Provided by (Used in) Financing
  Activities                          50,000     165,000    190,000     215,000
-------------------------------------------------------------------------------

Net Increase/Decrease in Cash and
 Cash Equivalents                    (23,763)     (1,701)       942        (592)
-------------------------------------------------------------------------------

Cash and Cash Equivalents,
 beginning of period                  24,976       2,326        271       1,217
-------------------------------------------------------------------------------

Cash and Cash Equivalents,
  end of period                     $  1,213      $  625   $  1,213     $   625
================================================================================

Non-Cash Investing and Financing Activities:

  Conversion of notes payable to
    common stock                    $     --       $  --   $149,385     $    --

 Conversion of loans payable to
   common stock                     $     --       $  --   $189,198     $    --

 Conversion of accounts payable
   to common stock                 $  79,304       $  --   $229,722    $     --
 Issuance of common stock for
   services                         $457,678       $  --  $ 457,678    $     --





      See accompanying notes to consolidated condensed financial statements.


<PAGE>


                      SHARPS ELIMINATION TECHNOLOGIES INC.
                          (FORMERLY ASPI EUROPE, INC).

               NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                                   (Unaudited)

NOTE 1.     BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Except where the context indicates otherwise, references in this Quarterly
Report on Form 10-Q to the "Company" refers to the registrant, Sharps
Elimination Technologies, Inc., a Delaware corporation.

The Company was incorporated in the State of Florida on August 17, 1984, under
the name of AIDA Industries, Inc. and on December 19, 2000, redomiciled to the
state of Delaware. From its inception until July 20, 1998, there was no activity
within the Company. On July 20, 1998, the Company amended its Articles of
Incorporation to provide for a thousand to one (1,000:1) stock split and was
quoted on the OTC Bulletin Board. The Company began operations in January of
1999, and on March 24, 1999, the Company changed its name from AIDA Industries,
Inc. to Shopping Sherlock, Inc. On May 5, 2001, the Company changed its name
from Shopping Sherlock, Inc. to ASPi Europe, Inc. and on May 3, 2002 changed its
name to Sharps Elimination Technologies Inc.

On June 11, 2001 and amended on June 29, 2001, the Company executed an
Amalgamation and Re-Organization Agreement (the "Re-Organization Agreement") to
acquire all of the issued and outstanding equity securities of GrowthExperts
Group Inc. ("GrowthExperts") in exchange for up to 10,500,000 shares of common
stock of the Company and the assumption of all options to purchase equity
securities of GrowthExperts. GrowthExperts is an Alberta corporation that
provided outsourced customer relationship management services.

The acquisition of GrowthExperts was treated as a reverse acquisition whereby
the Company was acquired by GrowthExperts, with the unaudited balance sheets
being combined using each company's historical cost basis. The results of
operations include that of both companies from the date of closing the
acquisition, July 9, 2001, forward. The financial statements for the period
prior to the date of acquisition are those of GrowthExperts. The equity section
of the balance sheet and the net loss per share of the Company are retroactively
restated to reflect the effect of the exchange ratio established in the asset
purchase agreement.

On December 5, 2001, due to GrowthExperts' lack of working capital and failure
to meet current minimum obligations, GrowthExperts filed an assignment into
bankruptcy under Canada's Bankruptcy and Insolvency Act. A trustee was named in
the bankruptcy proceedings and took immediate possession of GrowthExperts'
assets and closed all of GrowthExperts' offices.

On January 22, 2002, the Company entered into the Stock Redemption and
Settlement Agreement (the "Redemption Agreement") with Scott Dow and F. Thomas
Winters III under which the parties agreed to a mutual release of liability in
consideration for, among other things, the redemption of 2,944,611 Exchangeable
Shares that Mr. Dow and Mr. Winters owned or had control over, stock options for
300,000 shares of the Company's common stock which Mr. Winters had the right to
purchase and the release of Mr. Dow and Mr. Winters from their personal
guarantees on a $150,000 promissory note issued by the Company to GrowthExperts
on May 1, 2001.



<PAGE>


At a special meeting of GrowthExperts' Exchangeable Shareholders held on January
22, 2002, the Exchangeable Shareholders voted in favor of amending certain
exchange and voting rights attached to their Exchangeable Shares such that the
10,500,000 Exchangeable Shares issued were no longer exchangeable into common
shares of the Company and carried no voting rights.

On February 11, 2002, the Company announced that it entered into a letter of
intent to acquire all of the issued and outstanding equity securities of Sharps
Elimination Technologies Inc. ("SETI") a Delaware corporation based in Oxford,
Mississippi that is focused on the prevention of needlestick injuries through
the use of its exclusive license to develop, manufacture and sell the
Needle-Ease(TM) device. Under the terms of the letter of intent, the Company
intended to acquire all of SETI's outstanding securities in exchange for
15,800,000 shares of common stock of the Company.

On March 22, 2002,  Kelly Fielder was appointed the Chief Executive  Officer and
sole Director of the Company.  Mr. Fielder is also the Chief  Executive  Officer
and Director of SETI.

On March 25, 2002, the Company acquired all of the issued and outstanding equity
securities of SETI in exchange for 15,800,000 shares of the Company's common
stock.

In April 2002 the Company  changed its name from "ASPi  Europe  Inc." to "Sharps
Elimination Technologies Inc."

The shares of the Company's common stock issued to SETI's former shareholders
are subject to earnout conditions imposed mutually by the Company and the former
shareholders of SETI. The 15,800,000 shares of common stock are to be placed
with an escrow agent and will be released if, among other conditions, SETI sells
at least 6,000 Model 3500P devices by March 25, 2003. Should SETI not meet the
conditions to release the 15,800,000 shares of common stock of the Company, the
15,800,000 shares will be returned to the Company for cancellation and all the
shares of SETI received by the Company in this transaction will be returned to
the former SETI shareholders.

Since the shares issued in connection with the acquisition of SETI may be
returned to the Company under certain conditions, which as of June 30, 2002 were
not yet satisfied, for financial reporting purposes the acquisition of SETI has
not been recognized during the period covered by this report.

The consolidated condensed financial statements of the Company include the
accounts of its subsidiaries (with the exception of SETI) after elimination of
intercompany balances and transactions.

In August 2002 the Company and the former SETI shareholders agreed to rescind
the acquisition of SETI. See Note 12 of these financial statements for further
information.

Accounting Estimates - The Company's financial statements are prepared in
conformity with accounting principles generally accepted in the United States of
America which requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of contingent
assets and liabilities at the date of the financial statements, and the reported
amounts of revenue and expenses during the reporting period. Actual results
could differ from the estimates.

Cash and Cash Equivalents - The Company considers all highly liquid investments
purchased with an original maturity of three months or less to be cash
equivalents. Cash and cash equivalents consist primarily of deposits at
federally insured financial institutions.


<PAGE>

Long-Lived  Assets  - In  accordance  with  Statement  of  Financial  Accounting
Standards ("SFAS") No. 121,  "Accounting for the Impairment of Long-Lived Assets
and for  Long-Lived  Assets to be Disposed Of," the Company  records  impairment
losses on long-lived assets used in operations  whenever events or circumstances
indicate that the carrying  amount of an asset may not be  recoverable  based on
undiscounted  cash flows. An impairment is recognized to the extent that the sum
of undiscounted  estimated  future cash flows expected to result from use of the
assets is less than the carrying value.

Fair Value of Financial Instruments - The Company's financial instruments
include cash, accounts receivable and notes payable, which due to the nature and
duration of the financial instruments, approximates their fair value.

Stock-Based Compensation - SFAS No. 123, "Accounting for Stock-based
Compensation," establishes a fair value method of accounting for stock-based
compensation plans and for transactions in which a company acquires goods or
services from non-employees in exchange for equity instruments. SFAS 123 also
gives the option to account for stock-based employee compensation in accordance
with Accounting Principles Board Opinion ("APB") No. 25, "Accounting for Stock
Issued to Employees," or SFAS 123. The Company elected to follow APB 25 which
measures compensation cost for employee stock options as the excess, if any, of
the fair market price of the Company's stock at the measurement date over the
amount an employee must pay to acquire the Company's stock by exercise of the
stock options granted.

Foreign Currency - Exchange gains and losses from holding foreign currencies and
having liabilities in foreign currencies are included in the consolidated
condensed statements of operations.

Recent Accounting Pronouncements - In June 2001, the FASB approved for issuance
SFAS 141, Business Combinations. This standard eliminates the pooling method of
accounting for business combinations initiated after June 30, 2001. In addition,
SFAS 141 addresses the accounting for intangible assets and goodwill acquired in
a business combination. This portion of SFAS 141 is effective for business
combinations completed after June 30, 2001. The Company does not expect SFAS 141
to have a material effect on the Company's financial position or results of
operations.

In June 2001, the FASB approved for issuance SFAS 142, Goodwill and Intangible
Assets, which revises the accounting for purchased goodwill and intangible
assets. Under SFAS 142, goodwill and intangible assets with indefinite lives
will no longer be amortized, but will be tested for impairment annually and also
in the event of an impairment indicator. SFAS 142 is effective for the fiscal
years beginning after December 15, 2001, with early adoption permitted for
companies with fiscal years beginning after March 15, 2001 if their first
quarter financial statements have not been previously issued. The Company does
not expect SFAS 142 to have a material effect on the Company's financial
position or results of operations.

In June 2001, the FASB issued SFAS 143, Accounting for Asset Retirement
Obligations, which is effective for fiscal years beginning after June 15, 2002.
SFAS 143 addresses the financial accounting and reporting obligations and
retirement costs related to the retirement of tangible long-lived assets. The
Company does not expect that the adoption of SFAS 143 will have a significant
impact on its financial position and results of operations.

In August 2001, the FASB issued SFAS 144, Accounting for the Impairment of
Disposal of Long-Lived Assets, which is effective for the fiscal years beginning
after December 15, 2001. SFAS 144 supersedes SFAS 121, Accounting for the
Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of, and
the accounting and reporting provisions relating to the disposal of a segment of
a business of Accounting Principles Board Opinion No. 30. The Company does not
expect that the adoption of SFAS 144 will have a significant impact on its
financial position and results of operations.



<PAGE>


NOTE 2.     BASIS OF PRESENTATION

The accompanying consolidated condensed financial statements of the Company are
unaudited and include, in the opinion of management, all normal recurring
adjustments necessary to present fairly the consolidated condensed balance sheet
as of June 30, 2002, and the related statements of operations, stockholders'
deficit and cash flows for the periods presented. Certain information and
footnote disclosures normally included in financial statements prepared in
accordance with accounting principles generally accepted in the United States of
America have been condensed or omitted pursuant to the rules and regulations of
the Securities and Exchange Commission (the "Commission"). These consolidated
condensed financial statements should be read in conjunction with the Company's
fiscal 2001 audited consolidated financial statements and the related notes
thereto included in the Company's Form 10-K filed with the Commission on April
19, 2002.

On March 25, 2002 the Company acquired all of the issued an outstanding equity
securities of SETI in exchange for 15,800,000 shares of the Company's common
stock. Since the shares issued in connection with the acquisition of SETI may be
returned to the Company under certain conditions, which as of June 30, 2002 were
not yet satisfied, for financial reporting purposes the acquisition of SETI has
not been recognized during the period covered by this report. The consolidated
condensed financial statements of the Company include the accounts of its
subsidiaries (with the exception of SETI) after elimination of intercompany
balances and transactions.

Subsequent Event

In August 2002 the Company and the former SETI shareholders agreed to rescind
the acquisition of SETI. See Note 12 to these financial statements for further
information.

NOTE 3.     GOING CONCERN

The Company has never generated profits, and there is no assurance that, in the
future, the Company will be profitable on a quarterly or annual basis. The
Company expects to continue to incur operating losses until significant funding
can be obtained.

The Company believes that it has sufficient working capital and access to
additional capital to sustain operations through September 2002. The Company
cannot assure that funds raised in the future will be sufficient to finance the
complete cost of its operations. The Company will require additional funds
before the Company can achieve positive cash flow from operations. The Company
is actively in the process of raising additional capital. The Company cannot
assure that additional financing or additional funds will be available when the
Company needs them or, if available, on terms acceptable to the Company. If
adequate funds are not available, the Company may not be able to continue. Any
additional stock or convertible debt financing which the Company obtains, if
any, could result in substantial dilution to stockholders. The Company currently
has no commitments for any credit facilities such as revolving credit agreements
or lines of credit that could provide additional working capital and substantial
doubt exists regarding the Company's ability to continue as a going concern.

NOTE 4.     DISCONTINUED OPERATIONS

On December 5, 2001, the Company's wholly-owned subsidiary, GrowthExperts, filed
an assignment into bankruptcy, which effectively transferred control of all the
GrowthExperts' assets and obligations to the bankruptcy trustee and ceased all
its operating activities. As a result, the Company has reclassified its prior
year financial statements to present the operating results as a discontinued
operation.


<PAGE>


NOTE 5.     NET LOSS PER SHARE

Basic loss per share is computed by dividing net loss by the weighted average
number of common stock outstanding. Per share information for all prior periods
have been retroactively restated to reflect the effect of the exchange ratio
established in the Re-Organization Agreement with GrowthExperts. As of June 30,
2002, the Company had outstanding warrants to purchase 575,500 shares of common
stock which were not included in the calculation of loss per share as their
effect was anti-dilutive.

NOTE 6.     LICENSING AGREEMENT

On November 12, 2001, the Company's wholly-owned subsidiary, SETI, entered into
an agreement (the "Licensing Agreement") with Spectrum Meditech Inc.
("Spectrum") to acquire the exclusive license to the Needle-Ease(TM) technology.
The technology includes Spectrum's Patent and pending United States Patents, as
well as blueprints, drawings, specifications, engineering data, engineering
calculations, processes, apparatuses, and parts relating to the Needle-Ease(TM)
product. Included as part of the license are the rights to use the
Needle-Ease(TM) trademarks and tradenames. Under the Licensing Agreement, SETI
is required to pay $300,000 by May 12, 2002 and subject to a royalty of $3.25
per unit sold or sub-licensed with a minimum commitment of $100,000 per annum.
To date, SETI has paid $58,500 of the required payment.

NOTE 7.     CONVERTIBLE NOTE PAYABLE

On May 17, 2000, the Company issued $125,000 of convertible subordinated debt to
a third party. The note had a maturity date of August 31, 2001 with interest
accruing at the rate of 10% per annum through July 31, 2001 and 12.5%
thereafter. The note is convertible into common stock at a price equal to 80% of
the trading price of the common stock on the date such advance is converted. On
March 4, 2002, the note and related accrued interest was converted into 149,385
shares of the Company's common stock at an agreed-upon price of $1.00 per share.
On the conversion date, 80% of the trading price of the common stock was $1.10.

NOTE 8.     LOANS PAYABLE

On January 22, 2001, the Company issued a $50,000 promissory note to an
individual. The note had a maturity date of May 18, 2001 with interest accruing
at the rate of 10% per annum. On August 6, 2001, the note was amended such that
the principal and accrued interest was due October 15, 2001 and the interest
would accrue at 12.5% per annum effective July 31, 2001. On May 1, 2002, the
note and related accrued interest was converted into 57,140 shares of the
Company's common stock.

On August 15, 2001, the Company issued a $50,000 promissory note to a third
party. The note had a maturity date of November 30, 2001 with interest accruing
at the rate of 12% per annum. On March 13, 2002, the note and related accrued
interest was converted into 53,452 shares of the Company's common stock.

On November 2, 2001, the Company issued a $37,000 promissory note to a third
party. The note had a maturity date of November 30, 2001 with interest accruing
at the rate of 12% per annum. On March 15, 2002, the note and related accrued
interest was converted into 38,606 shares of the Company's common stock.

On March 21,  2002,  the  Company  received  a short  term loan in the amount of
$40,000.  On April 9, 2002,  the loan was  converted  into 40,000  shares of the
Company's common stock. NOTE 9. DUE TO RELATED PARTY


<PAGE>


Amounts due to related parties are comprised of loans and unpaid consulting fees
owing to a director and a company controlled by a director, and are interest
free, unsecured, and have no specified terms of repayment.

NOTE 10.    STOCKHOLDERS' EQUITY (DEFICIT)

On March 25, 2002, the Company sold 100,000 shares of common stock for an
aggregate of $100,000 to an investor. In connection with this sale, the Company
issued one-year warrants to purchase 50,000 shares of common stock at an
exercise price of $1.50 per share and three-year warrants to purchase 50,000
shares of common stock at an exercise price of $2.00 per share. In connection
with this sale, the Company granted the investor certain registration rights
with respect to 100,000 shares of the common stock and the underlying shares to
be issued upon the exercise of the above described warrants.

During the six months ended June 30, 2002, the Company issued 229,722 shares of
common stock to creditors of the Company to extinguish approximately $229,722 in
accounts payables. Of these amounts, approximately $95,200 was due to related
parties.

Also, during the six months ended June 30, 2002, the Company issued 466,667 of
common stock to certain consultants of the Company for services rendered. The
transactions totaled $457,678.

NOTE 11.    COMMITMENTS

Royalties - The Company's wholly-owned subsidiary, SETI, is required to pay a
minimum of $100,000 during the next twelve months for royalties under the
Licensing Agreement. In addition, SETI is required to pay a minimum of $16,666
in royalties over the next twelve months to the original patent holders.

Leases - The Company's wholly-owned subsidiary, SETI, currently leases an office
in Oxford, Mississippi. The lease has an expiration date of December 2002.
SETI's future minimum payments under these lease is $6,750 for the year ended
December 31, 2002.

Employment agreements - The Company's wholly-owned subsidiary, SETI has
employment agreements with two executive officers. The agreements provide for
aggregate base compensation of $15,000 monthly.

NOTE 12.    RESCISSION OF THE SETI ACQUISITION

In March 2002, the Company acquired SETI in exchange for 15,800,000 shares of
common stock. At the time of the acquisition, SETI was planning to sell devices
which would safely incinerate used medical needles. The Company acquired SETI as
a result of SETI's desire to have a public market for its stock. SETI believed
that the existence of a public trading market for its common stock would make it
easier to raise the capital needed to finance SETI's operations. However,
potential investors have expressed concern due to the volatility in the price of
the Company's stock. Accordingly, management is of the opinion that:

1.    Raising funds with the Company's present capital structure would be both
      difficult and costly and that the holdings of the Company's present
      shareholders would likely be significantly diluted as a result of the sale
      of the additional shares which would be required to finance the
      development of the Company's medical needle disposal business.


<PAGE>

2.    The best interests of the Company's shareholders would be served by
      rescinding the agreement relating to the acquisition of SETI and then
      acquiring another business which would not need the substantial capital
      required by the Company's medical needle disposal business.

Accordingly, in August 2002 the Company and the former shareholders of SETI
agreed to rescind the acquisition of SETI. The agreement to rescind the
acquisition of SETI was subsequently approved by shareholders owning a majority
of the Company's outstanding shares. The rescission will be effective 20 days
after the mailing of a definitive Information Statement to the Company's
shareholders. On the effective date, all of the issued and outstanding shares of
SETI will be returned to the former SETI shareholders and the 15,800,000 shares
issued to the former SETI shareholders will be returned to treasury and
cancelled.

The Agreement between the Company and the former shareholders also provides for
the following:

The Company will pay SETI $25,000 in cash and $37,000 in the form of a
promissory note to reimburse SETI for its expenses incurred in connection with
the Company's acquisition of SETI and for other expenses following the date of
the acquisition. The promissory note is payable 30 days after the effective date
of the rescission and is secured by 150,000 shares of the Company's common
stock.

SETI will be responsible for approximately $500,000 of the combined liabilities
of the Company and SETI. The Company will be responsible for remaining
liabilities of approximately $14,000.

SETI will assume all material contractual obligations incurred by the Company
subsequent to the acquisition of SETI in March 2002, except for those relating
to those liabilities for which the Company will remain liable. SETI will remain
responsible for its own contractual obligations.

Prior to the effective date of the rescission the Company plans to change its
name to Armagh Group, Inc. and its trading symbol to ARMG.

On the effective date of the rescission, Kelly Fielder, the Company's only
officer and director, will appoint Adrian Towning and Darren Breitkreuz as
directors of the Company. Following this appointment, Kelly Fielder will resign
as an officer and director of the Company.

Following the rescission of the SETI acquisition, the Company will no longer
have any revenue generating assets or operations but will be free to seek new
acquisition or business opportunities.














<PAGE>


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                     FINANCIAL CONDITION AND PLAN OF OPERATION

      The Company was incorporated in 1984. Between 1984 and June 2001 the
Company was involved in several businesses, all of which have been discontinued.

      In June 2001 the Company acquired all of the issued and outstanding equity
securities of GrowthExperts Group Inc. in exchange for 9,750,000 Exchangeable
Shares. Each Exchangeable Shares was exchangeable at any time, at the holders
option, for one share of the Company's common stock. On October 7, 2001, the
former GrowthExperts shareholders were issued an additional 750,000 Exchangeable
Shares due to the Company's failure to meet certain obligations to
GrowthExperts.

      GrowthExperts was formed to provide outsourced sales and customer
relationship management services. On December 5, 2001, GrowthExperts filed
bankruptcy under Canada's Bankruptcy and Insolvency Act due to lack of working
capital. At a special meeting of GrowthExperts' Exchangeable Shareholders held
on January 22, 2002, the Exchangeable Shareholders voted to amend the rights
attached to the Exchangeable Shares such that the 10,500,000 Exchangeable Shares
would no longer be exchangeable into common shares of the Company.

      On March 26, 2002 the Company acquired all of the issued and outstanding
shares of Sharps Elimination Technologies Inc. ("SETI") in exchange for
15,800,000 shares of the Company's common stock. The Agreement relating to the
acquisition of SETI provides that the 15,800,000 shares of common stock will be
returned to the Company and cancelled unless SETI sells at least 6,000
Needle-Ease devices by March 26, 2003. The 6,000 Needle-Ease devices must be
sold at an average price of U.S. $300 per unit and all sales must be verified by
receipt of cash no later than April 26, 2003.

      Since the shares issued in connection with the acquisition of SETI may be
returned to the Company under certain conditions, which as of June 30, 2002 were
not yet satisfied, for financial reporting purposes the acquisition of SETI has
not been recognized during the period covered by this report.

      In August 2002 the Company and the former SETI shareholders agreed to
rescind the acquisition of SETI. See Note 12 of these financial statements for
further information.

      The Company does not have any bank lines of credit, or any other
traditional financing arrangements. The Company expects to obtain additional
capital through the private sale of the Company's common stock or from
borrowings from private lenders or financial institutions. There can be no
assurance that the Company will be successful in obtaining any additional
capital needed for its operations.

RESULTS OF OPERATIONS

Six Months Ended June 30, 2002

     In June 2001 the Company acquired all of the issued and outstanding  equity
securities  of  GrowthExperts  Group  Inc.,  a  corporation  formed  to  provide
outsourced sales and customer relationship  management services. The acquisition
of GrowthExperts  was treated as a reverse  acquisition  whereby the Company was
acquired by GrowthExperts.  The financial statements for the period prior to the
date of  acquisition  (June  2001) were those of  GrowthExperts.  On December 5,
2001,  GrowthExperts  filed bankruptcy under Canada's  Bankruptcy and Insolvency
Act due to lack of working capital.  As a result of the bankruptcy  filing,  the
operating  results of Growth  Experts for the six months ended June 30, 2001 are
shown as "Discontinued Operations".


<PAGE>

      During the twelve months ended December 31, 2002, and the six months ended
June 30, 2002, the Company did not sell any Needle-Ease devices.

      The primary component of General and Administrative Expenses for the six
months ended June 30, 2002 was the expense associated with the issuance of stock
as compensation for services during the period.








<PAGE>


                                     PART II
                                OTHER INFORMATION

Item 2.  Changes in Securities

      During the three months ended June 30, 2002 the Company:

o    Issued  79,304  shares of common  stock in  payment of  liabilities  in the
     amount of $79,304;

o    Issued  97,140  shares of common stock upon the  conversion  of  promissory
     notes in the principal amount of $97,140; and

o    Issued 150,000 shares of common stock to consultants for services rendered.

     The Company  relied  upon the  exemption  provided  by Section  4(2) of the
Securities Act of 1933 in connection with the sale of these shares.

     During the three  months  ended June 30,  2002 the Company  issued  316,667
shares of its common  stock to a  consultant.  The  issuance of these shares was
registered by means of a registration statement on Form S-8.

Item 6.       Exhibits and Reports on Form 8-K

        (a)  Exhibits

             The following exhibits are filed with this report:

             Number    Description

               2       Corporate Separation Agreement



        (b)  Reports on Form 8-K

     During the quarter  ending June 30,  2002 the Company  filed the  following
reports on Form 8-K:

      Filing Date           Subject
     --------------         ---------

      April 4, 2002         Acquisition of Sharps Elimination Technologies, Inc.

      May 10, 2002          Change in auditors





<PAGE>



                                   SIGNATURES

      Pursuant to the requirements of Section 12 of the Securities Exchange Act
of 1934, the registrant has duly caused this registration statement to be signed
on its behalf by the undersigned, thereunto duly authorized.

                              SHARPS ELIMINATION TECHNOLOGIES, INC.


Date: August 19, 2002         By:   /s/ Kelly Fielder
                                    -------------------------------------------
                                    Kelly Fielder, President and Principal
                                      Financial Officer




                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                   SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


      In connection with the Quarterly Report of Sharps Elimination
Technologies, Inc. (the "Company") on Form 10-QSB for the period ending June 30,
2002 as filed with the Securities and Exchange Commission on the date hereof
(the "Report"), I, Kelly Fielder, Chief Executive and Financial Officer of the
Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

(1)  The Report fully complies with the  requirements  of section 13(a) or 15(d)
     of the Securities Exchange Act of 1934; and

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



Date:  August 19, 2002                    /s/ Kelly Fielder
                                          ---------------------------------
                                          Kelly Fielder
                                          Chief Executive and Financial Officer