FORM 10-QSB

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

(Mark  One)

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

     For the quarterly period ended March 31, 2003

                                       OR

[ ]  TRANSITION  REPORT  PURUSANT  TO  SECTION  13 OR 15(d) OF THE SECURITIES
     EXCHANGE  ACT  OF  1934


                        Commission file number 33-19598-D

                          NANOPIERCE TECHNOLOGIES, INC.
                          -----------------------------
        (Exact name of small business issuer as specified in its charter)

               Nevada                                   84-0992908
               ------                                   ----------
    (State or other jurisdiction of                  (I.R.S. employer
    incorporation  or  organization)              identification  number)


                           370 17th Street, Suite 3640
                             Denver, Colorado 80202

              (Address of principal executive offices )  (Zip Code)

         Issuer's telephone number, including area code:  (303) 592-1010

                                 Not applicable
     (Former name, former address or former fiscal year, if changed since last
                                     report)

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

As  of  May 14, 2003 there were 64,813,914 shares of the registrant's sole class
of  common  shares  outstanding.

Transitional  Small  Business  Disclosure  Format          Yes      No  X
                                                               ---     ---


<PAGE>
                         PART I - FINANCIAL INFORMATION


ITEM  1.  FINANCIAL  STATEMENTS

PART  I  -  FINANCIAL  INFORMATION

ITEM  1.  Financial  Statements                                             Page
                                                                            ----

     Independent  Accountants'  Report                                      F-2

     Condensed  Consolidated Balance Sheet - March 31, 2003                 F-3

     Condensed Consolidated Statements of Operations -
          Three months and nine months ended
          March  31,  2003  and  2002                                       F-4

     Condensed Consolidated Statements of Comprehensive
          Loss - Three months and nine months ended
          March  31,  2003  and  2002                                       F-5

     Condensed Consolidated Statement of Changes in Stockholders'
          Equity  -  Nine  months  ended  March  31,  2003                  F-6

     Condensed Consolidated Statements of Cash Flows -
          Nine  months  ended  March  31,  2003  and  2002                  F-7

     Notes  to  Condensed Consolidated Financial Statements                 F-8

Item  2.  Management's  Discussion  and  Analysis                            1

PART  II  -  OTHER  INFORMATION

Item  1.  Legal  Proceedings                                                 5

Item  2.  Changes  in  Securities                                            6

Item  4.  Controls  and  Procedures                                          7

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

     SIGNATURES                                                              9
     CERTIFICATION


<PAGE>
                         INDEPENDENT ACCOUNTANTS' REPORT
                         -------------------------------



Board  of  Directors
NanoPierce  Technologies,  Inc.

We  have  reviewed  the  accompanying  condensed  consolidated  balance sheet of
NanoPierce Technologies, Inc. and subsidiaries as of March 31, 2003, the related
condensed  consolidated  statements of operations and comprehensive loss for the
three-month  and nine-month periods ended March 31, 2003 and 2002, the condensed
consolidated  statement  of  changes  in shareholders' equity for the nine-month
period  ended  March 31, 2003, and the condensed consolidated statements of cash
flows  for  the nine-month periods ended March 31, 2003 and 2002.  These interim
condensed  consolidated  financial  statements  are  the  responsibility  of the
Company's  management.

We  conducted  our  reviews  in  accordance  with  standards  established by the
American  Institute  of  Certified  Public  Accountants.  A  review  of  interim
financial  information consists principally of applying analytical procedures to
financial  data  and  making  inquiries of persons responsible for financial and
accounting  matters.  It  is substantially less in scope than an audit conducted
in accordance with generally accepted auditing standards, the objective of which
is  the  expression  of an opinion regarding the financial statements taken as a
whole.  Accordingly,  we  do  not  express  such  an  opinion.

Based on our reviews, we are not aware of any material modifications that should
be  made to the accompanying interim condensed consolidated financial statements
for  them  to  be in conformity with accounting principles generally accepted in
the  United  States  of  America.

GELFOND  HOCHSTADT  PANGBURN,  P.C.


Denver,  Colorado
May  9,  2003


                                      F-2
<PAGE>
<TABLE>
<CAPTION>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
                      Condensed Consolidated Balance Sheet
                                 March 31, 2003
                                  (Unaudited)


                           Assets
                           ------
<S>                                                                <C>
Current assets:
  Cash and cash equivalents                                        $    366,936
  Accounts receivable                                                    43,993
  Inventory                                                              39,405
  Deferred consulting costs and other prepaid expenses                  378,696
                                                                   -------------
    Total current assets                                                829,030
                                                                   -------------

Property and equipment:
  Machinery                                                             222,770
  Office equipment and furniture                                        221,807
  Leasehold improvements                                                138,776
                                                                   -------------
                                                                        583,353
  Less accumulated depreciation                                        (323,621)
                                                                   -------------
                                                                        259,732
                                                                   -------------

Other assets:
  Deposits and other                                                    338,509
  Intellectual property rights, net of accumulated
    amortization of $509,315                                            490,685
  Patent and trademark applications, net of accumulated
    amortization of $55,865                                             343,625
                                                                   -------------
                                                                      1,172,819
                                                                   -------------

       Total assets                                                $  2,261,581
                                                                   =============

                Liabilities and Shareholders' Equity
                ------------------------------------

Current liabilities:
  Accounts payable                                                 $    575,573
  Accrued liabilities                                                    80,505
                                                                   -------------

    Total liabilities - all current                                     656,078
                                                                   -------------

Commitments and contingencies (Notes 4 and 5)

Shareholders' equity (Note 4):
  Preferred stock; $0.0001 par value;
   5,000,000 shares authorized:
   Series A; no shares issued and outstanding
   Series B; maximum of 75,000 shares issuable; no
     shares issued and outstanding
   Series C; maximum of 700,000 shares issuable; no
     shares issued and outstanding
  Common stock; $0.0001 par value; 200,000,000 shares authorized
     63,480,580 shares issued and outstanding                             6,348
  Additional paid-in capital                                         21,336,657
  Accumulated other comprehensive income                                180,863
  Accumulated deficit                                               (19,918,365)
                                                                   -------------
      Total shareholders' equity                                      1,605,503
                                                                   -------------

        Total liabilities and shareholders' equity                 $  2,261,581
                                                                   =============
</TABLE>

See notes to the condensed consolidated financial statements.


                                      F-3
<PAGE>
<TABLE>
<CAPTION>
                    NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
                    Condensed Consolidated Statements of Operations
                  Three and Nine Months Ended March 31, 2003 and 2002
                                      (Unaudited)

                                      Three Months Ended         Nine Months Ended
                                           March 31,                 March 31,
                                          ---------                  ---------
                                       2003         2002         2003         2002
                                   ------------  -----------  -----------  -----------
<S>                                <C>           <C>          <C>          <C>
Revenues                           $    52,999       31,870      158,753       92,033
                                   ------------  -----------  -----------  -----------

Operating expenses:
  Research and development             157,984       63,884      472,912      266,232
  General and administrative           722,468    1,097,037    2,087,126    3,333,047
  Selling and marketing                166,160       65,157      473,077      105,299
                                   ------------  -----------  -----------  -----------
                                     1,046,612    1,226,078    3,033,115    3,704,578
                                   ------------  -----------  -----------  -----------

Loss from operations                (  993,613)  (1,194,208)  (2,874,362)  (3,612,545)
                                   ------------  -----------  -----------  -----------

Other income:
  Interest income                        5,313       17,320       11,832       94,536
                                   ------------  -----------  -----------  -----------
Net loss                           $ ( 988,300)  (1,176,888)  (2,862,530)  (3,518,009)
                                   ============  ===========  ===========  ===========

Net loss per share,
  basic and diluted                $ (    0.02)  (     0.02)  (     0.05)  (     0.06)
                                   ============  ===========  ===========  ===========

Weighted average number of common
  shares outstanding                63,464,958   55,748,652   60,548,492   55,723,095
                                   ============  ===========  ===========  ===========
</TABLE>

See notes to the condensed consolidated financial statements.


                                      F-4
<PAGE>
<TABLE>
<CAPTION>
                      NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
                 Condensed Consolidated Statements of Comprehensive Loss
                   Three and Nine Months Ended March 31, 2003 and 2002
                                       (Unaudited)


                               Three Months Ended         Nine Months Ended
                                     March 31,                March 31,
                                     ---------                ---------
                                 2003        2002         2003         2002
                              ----------  -----------  -----------  -----------
<S>                           <C>         <C>          <C>          <C>
Net loss                      $(988,300)  (1,176,888)  (2,862,530)  (3,518,009)

Change in unrealized gain on
  securities                        (83)         331         (154)         177

Change in foreign currency
  translation adjustments         9,396   (   16,475)      39,605       27,324
                              ----------  -----------  -----------  -----------

Comprehensive loss            $(978,987)  (1,193,032)  (2,823,079)  (3,490,508)
                              ==========  ===========  ===========  ===========
</TABLE>

See notes to the condensed consolidated financial statements.


                                      F-5
<PAGE>
<TABLE>
<CAPTION>
                           NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
                Condensed Consolidated Statement of Changes in Shareholders' Equity
                                  Nine Months Ended March 31, 2003
                                            (Unaudited)


                                 Common Stock         Additional   Accumulated other                  Total
                                 ------------           paid-in     comprehensive   Accumulated   shareholders'
                              Shares       Amount       capital         income        deficit        equity
                           ------------  ----------  --------------  ------------  --------------  -----------
<S>                        <C>           <C>         <C>             <C>           <C>             <C>
Balances, July 1, 2002       57,637,002  $    5,764     19,496,447       141,412     (17,055,835)   2,587,788

Common stock issued
  for services                   14,000           1          9,344             -               -        9,345

Common stock and
  warrants issued for
  cash (net of offering
  costs of $75,500)           5,766,190         576      1,594,883             -               -    1,595,459

Common stock issued upon
  cashless exercise of
  warrants                       56,388           6             (6)            -               -            -

Common stock issued upon
  cashless exercise of
  option                          7,000           1             (1)            -               -            -

Warrants issued for
  services                            -           -        233,590             -               -      233,590

Extension of term of
  warrant                             -           -          2,400             -               -        2,400

Net loss                              -           -              -             -      (2,862,530)  (2,862,530)

Other comprehensive
  income:
    Change in unrealized
      gain on securities              -           -              -          (154)              -         (154)
    Change in foreign
      currency
      translation
      adjustments                     -           -              -        39,605               -       39,605
                           ------------  ----------  --------------  ------------  --------------  -----------
Balances,
  March 31, 2003             63,480,580  $    6,348     21,336,657       180,863     (19,918,365)   1,605,503
                           ============  ==========  ==============  ============  ==============  ===========
</TABLE>

See notes to the condensed consolidated financial statements.


                                      F-6
<PAGE>
<TABLE>
<CAPTION>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
                Condensed Consolidated Statements of Cash Flows
                    Nine Months Ended March 31, 2003 and 2002
                                  (Unaudited)


                                                          2003         2002
                                                      ------------  -----------
<S>                                                   <C>           <C>
Cash flows from operating activities:
 Net loss                                             $(2,862,530)  (3,518,009)
                                                      ------------  -----------
 Adjustments to reconcile net loss to net cash used
  in operating activities:
  Amortization expense                                    103,905       92,959
  Depreciation expense                                    124,452      171,209
  Amortization of deferred legal costs                          -      750,000
  Amortization of deferred consulting costs                50,500            -
  Expenses incurred in exchange for
    common stock, warrants and options                     14,935      132,160
  Changes in operating assets and liabilities:
   Increase in accounts receivable                        (34,944)    (  4,665)
   Increase in prepaid expenses                           (42,543)    ( 41,664)
   Increase in deposits and other assets                  (54,224)    (106,398)
   Increase in accounts payable and
    accrued liabilities                                   351,883       48,509
   Increase in deferred revenue                                 -       24,181
                                                      ------------  -----------
 Total adjustments                                        513,964    1,066,291
                                                      ------------  -----------

    Net cash used in operating activities              (2,348,566)  (2,451,718)
                                                      ------------  -----------

Cash flows from investing activities:
  Increase in patent and trademark applications          (129,884)    (156,143)
  Increase in note receivable                                   -     ( 35,000)
  Purchases of property and equipment                     (31,058)    (204,909)
  Payments received on notes receivable                   170,779      559,885
                                                      ------------  -----------
    Net cash provided by investing activities               9,837      163,833
                                                      ------------  -----------

Cash flows from financing activities:
  Issuance of common stock and warrants for cash        1,595,459            -
                                                      ------------  -----------
    Net cash provided by financing activities           1,595,459            -
                                                      ------------  -----------

Effect of exchange rate changes on cash
  and cash equivalents                                     17,130       28,737
                                                      ------------  -----------

Net decrease in cash and cash equivalents                (726,140)  (2,259,148)

Cash and cash equivalents, beginning                    1,093,076    3,384,536
                                                      ------------  -----------

Cash and cash equivalents, ending                     $   366,936    1,125,388
                                                      ============  ===========

Supplemental disclosure of cash flow information:
  Cash paid for interest                              $         -        3,396
                                                      ============  ===========
Supplemental disclosure of non-cash investing
  and financing activities:
Warrant issued for deferred consulting services       $   230,400            -
</TABLE>

See notes to the condensed consolidated financial statements.


                                      F-7
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
               Nine Months Ended March 31, 2003 and March 31, 2002
                                   (Unaudited)

1.  Business,  Organization  and  Summary  of  Significant  Accounting
    Policies:

Presentation  of  Interim  Information:

The  accompanying  condensed  consolidated  financial  statements  include  the
accounts  of  NanoPierce Technologies, Inc., a Nevada corporation (the Company),
its  wholly  owned  subsidiary  NanoPierce  Connection  Systems,  Inc., a Nevada
corporation  (NCOS) which was incorporated in 2002, and its wholly owned foreign
subsidiaries,  NanoPierce  Card  Technologies  GmbH,  Hohenbrunn  (NCT)  and
ExypnoTech,  GmbH  (EPT),  both  German subsidiaries, which were incorporated in
2000  and  2002,  respectively.  All  significant  intercompany  accounts  and
transactions  have  been  eliminated  in  consolidation.

In  the  opinion  of  the  management of the Company, the accompanying unaudited
condensed  consolidated  financial  statements include all material adjustments,
including  all normal and recurring adjustments, considered necessary to present
fairly  the  financial  position  and  operating  results of the Company for the
periods  presented.  The  financial  statements  and  notes  are  presented  as
permitted by Form 10-QSB, and do not contain certain information included in the
Company's  last  Annual Report on Form 10-KSB for the fiscal year ended June 30,
2002.  It  is  the  Company's opinion that when the interim financial statements
are read in conjunction with the June 30, 2002 Annual Report on Form 10-KSB, the
disclosures  are  adequate  to  make  the  information presented not misleading.
Interim results are not necessarily indicative of results for a full year or any
future  period.

The Company's financial statements for the nine months ended March 31, 2003 have
been  prepared  on  a going concern basis, which contemplates the realization of
assets and the settlement of liabilities and commitments in the normal course of
business.  The  Company  reported  a  net loss of $2,862,530 for the nine months
ended  March 31, 2003, and an accumulated deficit of $19,918,365 as of March 31,
2003.  The  Company  has  not  recognized  any  significant revenues from its PI
technology,  and expects to incur continued cash outflows.  The Company has also
experienced  difficulty  and  uncertainty  in  meeting  its  liquidity needs. In
addition,  in  April  2003,  NCT filed for insolvency with the Courts of Munich,
Germany  (Note  2).  These  factors  raise substantial doubt about the Company's
ability to continue as a going concern.  The financial statements do not include
any  adjustments  relating to the recoverability and classification of assets or
the amounts and classification of liabilities that might be necessary should the
Company  be  unable  to  continue  as  a  going  concern.

To  address  its current cash flow concerns, the Company issued 5,766,190 shares
of  common  stock  and  warrants in exchange for approximately $1.6 million cash
during  the  nine  months  ended  March  31,  2003  (Note 4).  The Company is in
discussions  with  investment  bankers  and financial institutions attempting to
raise  additional funds to support current and future operations.  This includes
attempting  to  raise  additional working capital through the sale of additional
capital  stock  or  through  the  issuance  of  debt  (Note  5).


                                      F-8
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
               Nine Months Ended March 31, 2003 and March 31, 2002
                                   (Unaudited)

Currently,  the  Company  does  not  have  a  revolving  loan agreement with any
financial institution, nor can the Company provide any assurance it will be able
to  enter  into  any  such  agreement  in  the future, or be able to raise funds
through  a  further issuance of debt or equity in the Company.  The Company also
believes  sales  of  its  products  and  technology  license  rights may provide
additional  funds  to meet the Company's capital requirements.  In addition, the
Company  has  implemented  certain cost reduction plans, including reductions in
personnel  at  facilities  in  the  United  States  and  Germany.

Business:

The  Company  is  engaged  in  the design, development and licensing of products
using  its intellectual property, the PI Technology.  The PI Technology consists
of  patents,  pending  patent  applications, patent applications in preparation,
trade  secrets,  trade  names,  and  trademarks.  The  PI  Technology  improves
electrical,  thermal and mechanical characteristics of electronic products.  The
Company  has  designated  and  is  commercializing  its  PI  Technology  as  the
NanoPierce Connection System (NCS(TM)) and has begun to market the PI Technology
to  companies  in  various  industries  for  a  wide  range  of  applications.

NCOS  business activities are to include licensing, sale and/or manufacturing of
certain  electronic  products  using  the NCS(TM) technology.  Through March 31,
2003,  NCOS  activities consisted of research and development and administrative
functions.  NCT  activities  through  March  31,  2003  consisted  primarily  of
providing  software  development  and  implementation  services,  and performing
administrative,  research and development, and selling and marketing activities.
In  April  2003,  NCT filed insolvency with the Courts of Munich, Germany and is
developing  a  plan of liquidation (Note 2). EPT engages in the manufacturing of
inlay  components  used  in,  among other things, Smart Labels, which is a paper
sheet  holding a chip-containing module that is capable of memory storage and/or
processing.

Business  Risk:

The  Company  is  subject  to risks and uncertainties common to technology-based
companies,  including  rapid  technological  change,  dependence  on  principal
products  and  third  party  technology,  new  product  introductions  and other
activities  of  competitors,  dependence on key personnel, and limited operating
history.

International  Operations:

The  Company's  foreign  subsidiaries  (NCT  and  EPT) operations are located in
Germany.  NCT  and  EPT  transactions are conducted in currencies other than the
U.S.  dollar,  (the  currency  into which the subsidiaries' historical financial
statements  have  been translated) primarily the Euro.  As a result, the Company
is  exposed  to  adverse  movements  in  foreign  currency  exchange  rates.


                                      F-9
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
               Nine Months Ended March 31, 2003 and March 31, 2002
                                   (Unaudited)

In  addition,  the Company is subject to risks including adverse developments in
the  foreign  political  and  economic  environments,  trade  barriers, managing
foreign  operations  and  potentially adverse tax consequences.  There can be no
assurance  that  any of these factors will not have a material adverse effect on
the  Company's  financial  condition  or  results  of  operations in the future.

Loss  Per  Share:

Statement  of Financial Accounting Standards (SFAS) No. 128, Earnings Per Share,
requires dual presentation of basic and diluted earnings or loss per share (EPS)
with  a  reconciliation  of  the  basic  EPS  computation  to  the numerator and
denominator  of  the  diluted  EPS  computation.  Basic  EPS  excludes dilution.
Diluted  EPS  reflects  the potential dilution that could occur if securities or
other  contracts  to  issue common stock were exercised or converted into common
stock  or  resulted  in  the  issuance  of  common stock that then shared in the
earnings of the entity.  Loss per share of common stock is computed based on the
average  number  of  common shares outstanding during the period.  Stock options
and  warrants  are  not  considered  in  the  calculation,  as the impact of the
potential  common  shares  (15,984,376  shares  at  March 31, 2003 and 9,987,661
shares  at  March  31,  2002)  would  be to decrease loss per share.  Therefore,
diluted  loss  per  share  is  equivalent  to  basic  loss  per  share.

2.  Subsidiary  Insolvency  Proceedings:

As  a result of continued operating losses and working capital deficiencies, the
Company's  wholly-owned  subsidiary,  NCT,  filed  insolvency with the Courts of
Munich,  Germany,  effective April 1, 2003.  The insolvency filing was necessary
in order to comply with specific German legal requirements.  NCT has been placed
in  receivership  while  a plan of liquidation is developed and submitted to the
Court  for  its  approval.

At March 31, 2003, NCT's assets and liabilities are as follows:

               Cash                                   $    30,692
               Receivables                                 48,971
               Other                                        7,669
                                                      -----------
                  Total current assets                     87,332
                                                      -----------

               Property and equipment, net                 20,953
               Deposits                                    11,398
                                                      -----------

                  Total assets                        $   119,683
                                                      ===========

               Accounts payable                       $   112,767
               Accrued liabilities                         57,400
                                                      -----------

                  Total liabilities (all current)(1)  $   170,167
                                                      ===========
              (1)  Liabilities presented above do not include
                   intercompany payables of approximately $187,389 at
                   March 31, 2003.


                                      F-10
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
               Nine Months Ended March 31, 2003 and March 31, 2002
                                   (Unaudited)

During the nine-month periods ended March 31, 2003 and 2002, NCT incurred losses
from  operations  of approximately $603,270 and $657,830, respectively ($200,045
and  $123,946  during  the  three-month  periods  ended March 31, 2003 and 2002,
respectively).

3.  Note  receivable:

During  the  nine  months ended March 31, 2003, two notes receivable and related
accrued interest were paid.  The Company received $144,709 under a 5%, unsecured
note receivable and $26,070 under an 8%, unsecured note receivable.  The Company
received  interest  totaling  $4,262.

4.  Shareholders'  Equity:

During the nine months ended March 31, 2003, the Company issued 14,000 shares of
restricted  common  stock  to  third  parties in exchange for services valued at
$9,345  based  on  the  quoted market price of the Company's common stock on the
date  the  services  were  performed.

During  the  nine months ended March 31, 2003, the Company sold 5,766,190 shares
of  restricted  common stock along with warrants to purchase 4,691,191 shares of
common  stock  at exercise prices ranging from $0.30 to $0.60 per share for cash
of  $1,595,459  (net of offering costs of $75,500).  The common stock was issued
at  a  discount from the market price. The warrants are exercisable immediately.
Warrants  to  purchase  1,251,191  shares of common stock have three-year terms;
warrants to purchase 3,440,000 shares of common stock have five-year terms.  All
of  the  warrants  contain cashless exercise provisions.  In connection with the
issuance  of  1,119,999  shares  out of the 5,766,190 shares issued, the Company
extended the expiration dates of existing warrants to purchase 612,500 shares of
common  stock,  held  by  the purchasers.  The warrants were scheduled to expire
from October 2002 through January 2003, and were extended for a one-year period.

During  the  nine months ended March 31, 2003, the Company granted stock options
to  purchase 450,000 shares of common stock at exercise prices of $0.58 to $0.97
per  share  to  employees and a director of the Company.  During the nine months
ended  March  31,  2002,  the  Company granted stock options to purchase 540,000
shares  of  common  stock  at  exercise  prices  of  $0.66 to $0.70 per share to
employees  and  a  director  of the Company.  The exercise prices of the options
granted  during  the nine-month periods ended March 31, 2003 and 2002 were based
upon  the  quoted  market  prices  of the Company's common stock on the dates of
grant.  The  stock  options  expire  in  the  years  2012  and  2011.

During  the  nine  months  ended  March 31, 2003, the Company issued warrants to
purchase  20,000 shares of common stock at $1.25 per share for services received
from  a  third party.  The warrants expire in 2005.  The warrants were valued at
$3,190  using  the Black-Scholes pricing model, which was charged to general and
administrative  expense.


                                      F-11
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
               Nine Months Ended March 31, 2003 and March 31, 2002
                                   (Unaudited)

During  the  nine  months  ended March 31, 2003, the Company issued a warrant to
purchase  450,000  shares  of  common  stock with an exercise price of $0.60 per
share  in  consideration  for deferred consulting services to be received from a
third  party  (Note  5).  The  warrant  expires  in  2010,  and  is  exercisable
immediately.  The  warrant  provides  for  a cashless exercise and was valued at
approximately  $230,400  using  the  Black-Scholes  pricing model.  The deferred
consulting  cost  is being amortized over a twelve-month period from the date of
issuance  of  the warrant.  During the quarter ended March 31, 2003, $50,500 was
expensed.

During the nine months ended March 31, 2003, the Company issued 56,388 shares of
common  stock  upon the cashless exercise of warrants to purchase 105,000 shares
of  common  stock.

During  the  nine  months  ended  March  31, 2003, options on 14,476 shares were
exercised,  (cashless  exercise election) in exchange for 7,000 shares of common
stock.

During the nine months ended March 31, 2003, the Company extended the term of an
existing  warrant,  held by an unrelated third party, to purchase 300,000 shares
of  common  stock  at  an exercise price of $0.25 per share.  The warrant was to
expire  on  February  24,  2003.  The  Company  agreed to extend the term of the
warrant  by one year, through February 24, 2004.  All other terms of the warrant
remain  unchanged.  In connection with the extension of the term of the warrant,
the  Company  recorded  a $2,400 expense, using the Black-Scholes pricing model.

During the nine months ended March 31, 2003, warrants to purchase 630,000 shares
of  common  stock  at  an  exercise  price  of  $2.92  per  share  expired.

In April 2003, the Company sold 1,333,334 shares of its restricted common stock,
along  with warrants to purchase 1,333,334 shares of common stock at an exercise
price  of $0.15 per share for $200,000.  The warrant is exercisable through 2008
and  contains  a  cashless  exercise  provision.

In  April  2003,  an  option  to purchase 100,000 shares of the Company's common
stock  expired.


                                      F-12
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
               Nine Months Ended March 31, 2003 and March 31, 2002
                                   (Unaudited)

5.  Commitments  and  Contingencies:

Licensing  Agreements:

The  Company  and  Louis  DiFrancesco,  the  inventor of the PI Technology, were
involved  in  litigation  relating to NanoPierce's ownership of its intellectual
property and the rights as to who should receive royalty payments from licenses,
which  were  outstanding  as of September 3, 1996.  In October 2002, the Company
and  DiFrancesco  signed  a  settlement  agreement enforced by Court Order.  The
Court  Order declares that the Company owns the entire, exclusive, incontestable
ownership,  right,  title  and interest in the patents.  The Court Order further
declares  that Mr. DiFrancesco owns the sole, exclusive, and incontestable right
to  receive  and  collect  all  royalties  and  other payments from all licenses
outstanding  on  September  3,  1996.  Pursuant to the settlement agreement, Mr.
DiFrancesco  was  also  granted  a  limited,  two-year,  non-transferable,
royalty-bearing  license  with  no  right  to  sublicense.

Financing  Agreement  Suit:

In  connection  with  a  financing  obtained  in October 2000, the Company filed
various actions in the United States District Court for the District of Colorado
against,  among others, Harvest Court, LLC, Southridge Capital Investments, LLC,
Daniel Pickett, Patricia Singer and Thomson Kernaghan & Co., Ltd. for violations
of federal and state securities laws, conspiracy, aiding and abetting and common
law  fraud  among  other claims.  The Company is seeking various forms of relief
including  actual,  exemplary  and  treble  damages.  As  a  result  of  various
procedural  rulings  in  January  2002, the United States District Court for the
District  of  Colorado  transferred the case to the United States District Court
for  the  Southern  District  of  New  York,  New  York  City,  New  York.

In  May  2001,  Harvest Court, LLC filed suit against the Company in the Supreme
Court  of  the State of New York, County of New York.  The suit alleges that the
Company  breached  an  October 20, 2000 Stock Purchase Agreement, by not issuing
7,418,895  free  trading shares of the Company's common stock in connection with
the  reset provisions of the Purchase Agreement due on the second reset date and
approximately  4,545,303  shares  due  in  connection with the third reset date.
Harvest  Court,  LLC  is  seeking  the delivery of such shares or damages in the
alternative.  In August 2001, the Supreme Court of the State of New York, County
of  New York issued a preliminary injunction ordering the Company to reserve and
not  transfer  the shares allegedly due to Harvest Court.  The Company has filed
counterclaims  seeking  various  forms  of  relief  against  Harvest Court, LLC.


                                      F-13
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
               Nine Months Ended March 31, 2003 and March 31, 2002
                                   (Unaudited)

In  January  2003,  Harvest  Court,  LLC  filed  suit  against  the Company, Mr.
Metzinger  and  unrelated  third parties in the United States District Court for
the  Southern  District  of New York, New York City, New York.  The suit alleges
violations  of  federal securities laws and common law fraud among other claims.
Harvest  Court  is  seeking  various  forms of relief including compensatory and
punitive  damages.  The  Company  is  preparing  pleadings  responsive  to  the
complaint.

The Company intends to vigorously prosecute this litigation and does not believe
the  outcome  of  this  litigation  will  have  a material adverse effect on the
financial  condition,  results  of  operations  or  liquidity  of  the  Company.
However, it is too early at this time to determine the ultimate outcome of these
matters.

In September 2001, litigation was filed by Thomson Kernaghan & Co., Ltd. against
the  Company  and  certain officers/directors of the Company seeking damages for
defamation.  Thomson  Kernaghan  &  Co.,  Ltd. subsequently filed for protection
under  Canadian  bankruptcy  laws. In December 2002, the Company received notice
from the bankruptcy trustee of Thomson Kernaghan & Co., that it would not pursue
the  action  and  would  move  for  dismissal  of the litigation with the court.

Financial Advisory and Placement Agent Agreement:

Effective  January  10,  2003,  the  Company  entered  into a 12-month financial
advisory  and  exclusive  placement  agent  agreement  with  a  third party (the
"Placement Agent").  Under the terms of the agreement, the Placement Agent is to
act as financial advisor to the Company and as its exclusive placement agent for
a  private  placement  of  equity securities during the twelve-month term of the
agreement.  During  the  term  of the agreement, the Company shall be prohibited
from  directly  or indirectly offering securities, except in connection with (a)
stock-based  compensation issued to employees or other participants, as defined,
and (b) the Company's efforts in securing equity financing prior to February 15,
2003.

Compensation  to  the  Placement  Agent  consists  of  a  retainer fee (deferred
consulting  costs valued at approximately $230,400), which consists of a warrant
to purchase up to 450,000 shares of the Company's common stock.  Compensation is
also  to  include  a $10,000 monthly advisory fee, payable in cash, beginning in
June 2003.  In addition, the Placement Agent is to receive a 6% fee based on the
proceeds raised from a successful offering, payable in cash, along with warrants
to  purchase  shares  of the Company's common stock in an amount equal to 10% of
the  number  of  common  shares  issued  in  an  offering.


                                      F-14
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
               Nine Months Ended March 31, 2003 and March 31, 2002
                                   (Unaudited)

6.  Foreign  and  Domestic  Operations:

The Company's revenues during the three-month and nine-month periods ended March
31,  2003 and 2002 were primarily generated in Germany.  Operating results as of
and for the three-month and nine-month periods ended March 31, 2003 and 2002, by
geographic  area,  are  presented  in the table below.  There was no significant
amount  of  transfers  between  geographic  areas.

                           Three Months Ended  Nine Months Ended
                                March 31            March 31
                                --------            --------
                            2003       2002      2003     2002
                           -------  ----------  -------  ------
     Revenues:
       United States       $ 1,900           -    1,900       -
       Germany              51,099      31,870  156,853  92,033
                           -------  ----------  -------  ------

       Total               $52,999      31,870  158,753  92,033
                           =======  ==========  =======  ======

     Long-lived assets at
       March 31, 2003:
         United States              $1,045,393
         Germany                        48,649
                                    ----------

         Total                      $1,094,042
                                    ==========


                                      F-15
<PAGE>
ITEM  2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS

     Certain statements contained in this Form 10-QSB contain "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995 and involve risks and uncertainties that could cause actual results to
differ materially from the results, financial or otherwise, or other
expectations described in such forward-looking statements. Any forward-looking
statement or statements speak only as of the date on which such statements were
made, and the Company undertakes no obligation to update any forward-looking
statement to reflect events or circumstances after the date on which such
statements are made or reflect the occurrence of unanticipated events.
Therefore, forward-looking statements should not be relied upon as prediction of
actual future results.

     The independent auditors' report on the Company's financial statements as
of June 30, 2002, and for each of the years in the two-year period then ended,
includes a "going concern" explanatory paragraph, that describes substantial
doubt about the Company's ability to continue as a going concern. Management's
plans in regard to the factors prompting the explanatory paragraph are discussed
below and also in Note 1 to the quarterly Financial Statements.

RESULTS  OF  OPERATIONS

     The Company recognized $158,753 in revenues during the nine months ended
March 31, 2003 ($52,999 for the three months ended March 31, 2003) compared to
$92,033 in the nine months ended March 31, 2002 ($31,870 for the three months
ended March 31, 2002). Of the $158,753 in revenues, $139,651 was generated from
various software development contracts generated by NanoPierce Card, $17,201 was
generated from the sale of inlay samples to potential customers by ExypnoTech
and the remaining $1,900 from services provided by NanoPierce Connections. The
Company expects to continue to generate revenues in the future from the
preparation of samples for those potential customers for which it has
non-disclosure agreements and cooperation agreements and from the sale of inlays
through ExypnoTech. In addition the Company expects to generate revenues through
NanoPierce Connections work on various small projects within the industry.

     The Company recognized $11,832 in interest income during the nine months
ended March 31, 2003 ($5,313 during the three months ended March 31, 2003)
compared to $94,536 during the nine months ended March 31, 2002 ($17,320 during
the three months ended March 31, 2002). The decrease of $82,704 is due primarily
to the use of cash to support operations.

     Total operating expenses during the nine months ended March 31, 2003 were
$3,033,115 ($1,046,612 for the three months ended March 31, 2003), compared to
$3,704,578 for the nine months ended March 31, 2002 ($1,226,078 for the three
months ended March 31, 2002). The decrease of $671,463 is primarily attributable
to a decrease in general and administrative expenses, as described below.

     General and administrative expenses during the nine months ended March 31,
2003 were $2,087,126 ($722,468 for the three months ended March 31, 2003)
compared to $3,333,047 for the nine months ended March 31, 2002 ($1,097,037 for
the three months ended March 31, 2002).


                                        1
<PAGE>
The decrease of $1,245,921 is primarily attributable to a $814,518 decrease in
legal expenses and a $118,521 decrease in investor relation expenses. Selling
and marketing expenses during the nine months ended March 31, 2003 were $473,077
($166,160 for the three months ended March 31, 2003) compared to $105,299 during
the six months ended March 31, 2002 ($65,157 for the three months ended March
31, 2002). The increase of $367,778 was due to an increase in marketing
activities throughout the Company. Research and development expenses during the
nine months ended March 31, 2003 were $472,912 ($157,984 for the three months
ended March 31, 2003) compared to $266,232 for the nine months ended March 31,
2002 ($63,884 for the three months ended March 31, 2002). The increase of
$206,680 was due to an increase in activities at the Company's subsidiaries in
connection with the further development and expansion of the NCS(TM) technology.

     During the nine months ended March 31, 2003 the Company recognized a net
loss of $2,862,530 ($988,300 for the three months ended March 31, 2003) compared
to a net loss of $3,518,009 during the nine months ended March 31, 2002
($1,176,888 for the three months ended March 31, 2002). The decrease of $655,479
is explained by the decrease of $671,463 in operating expenses and an increase
of $66,720 in revenues, offset by a decrease of $82,704 in interest income.

LIQUIDITY AND FINANCIAL CONDITION

     The Company's current operations are not generating positive cash flows.
During the nine months ended March 31, 2003, the Company sold 5,766,190 shares
of common stock and granted warrants to purchase 4,691,191 shares of common
stock at exercise prices ranging from $0.30 to $0.50 for $1,595,459 (net of
offering costs of $75,500). The warrants are exercisable through 2007 and
contain a cashless exercise provision. The funds were raised to support
operations.

     As a result of continued operational losses and working capital
deficiencies and in order to comply with specific German legal requirements, in
April 2003, the Company's wholly owned subsidiary NanoPierce Card Technologies,
Gmbh (NCT) filed for insolvency with the Courts of Munich, Germany. NCT has been
placed in receivership while a plan of liquidation is developed.

     During the nine months ended March 31, 2003, the Company entered into a
12-month financial advisory and exclusive placement agent agreement with a third
party (the "Placement Agent"). Under the terms of the agreement, the Placement
Agent is to act as the financial advisor to the Company and as its exclusive
placement agent for a private placement of equity securities during the
twelve-month term of the agreement. In addition, the Company is exploring other
financing opportunities to support continuing operations.

     In January 2003, the Company entered into a Cooperation Agreement (the
"Avery Agreement") with Avery Dennison Corporation to explore the application of
WaferPierce(TM) and NCS(TM) in the production of reliable low-cost RFID labels.
The Avery Agreement called for a three-phase project that will explore a variety
of approaches to producing smart labels. In May 2003, the Company received
notice of Avery Dennison Corporation's decision to terminate the Avery
Agreement.


                                        2
<PAGE>
     In March 2002, the Company entered into a $2,000,000 Equity Financing. In
April 2002, the Company received the first of two available tranches of
$1,000,000 per tranche and in return issued 800,000 free trading common shares
to the investor. In addition, the Company issued 1,073,000 of its free-trading
common shares, which are being held by an escrow agent for the potential
issuance upon exercise of the warrants issued in connection with the financing.
Such warrants have a term of five years, with an exercise price of $1.45 per
share. The second tranche of $1,000,000 was made available to the Company sixty
days after the take down of the first. The Company declined to take down the
second tranche, due to depressed market conditions, at that time, and possible
dilutive effects on its stock. The second tranche is no longer available to the
Company, pursuant to terms of expiration.

     Prior to June 30, 2001, the Company loaned $500,000 to an unrelated third
party, Global Capital Partners, Inc. ("Global") in exchange for a 12% note
receivable due in November 2001. During the nine months ended March 31, 2003,
the remaining principal balance of $144,709 and accrued interest on the note of
$3,474 was paid in full.

     In April 2002, the Company loaned $50,000 to a representative of the
unrelated third party, which had been assigned the Global note, in exchange for
an unsecured, 8% note receivable due in October 2002. During the nine months
ended March 31, 2003, the outstanding balance of the note, $26,858, of which
$788 was accrued interest, was paid in full.

     During the nine months ended March 31, 2003, the Company expanded the scope
of its patent and trademark applications. The intellectual property is being
amortized using the straight-line method over ten years. On March 31, 2003, the
Company has net patent and trademark applications costs of $343,625, compared to
$221,494 on March 31, 2002. The increase of $122,131 was primarily due to the
Company's efforts to increase patent and trademark protection overseas.

PLAN  OF  OPERATIONS

     The Company has signed various nondisclosure and cooperation agreements
with companies both overseas and in the United States. The agreements are
applicable to the application of the Company's NCS(TM) technology and/or its
WaferPierce(TM) method for various products in the smart card/smart label
industries, the LED industry and in the semiconductor industry. Management is
pursuing the development of further similar agreements both nationally and
internationally with additional companies in not only these but other
industries. The Company is also involved in creating samples and testing in
connection with these agreements.

     The Company is continuing to look for additional financing through
marketing of its NCS(TM) technology through the pursuit of licensing, joint
ventures, co-manufacturing or other similar arrangements with industry partners.
The failure to secure such a relationship will result in the Company requiring
substantial additional capital and resources to bring its NCS technology to
market. To the extent the Company's operations are not sufficient to fund the
Company's capital requirements, the Company may enter into a revolving loan
agreement with financial institutions or attempt to raise capital through the
sale of additional capital stock or through the issuance of debt.


                                        3
<PAGE>
At  the  present  time the Company does not have a revolving loan agreement with
any financial institution nor can the Company provide any assurance that it will
be able to enter into any such agreement in the future or be able to raise funds
through  the  further  issuance  of  debt or equity in the Company.  The Company
continues  to  evaluate  additional  merger  and  acquisition  opportunities.



                                        4
<PAGE>
                           PART II - OTHER INFORMATION

ITEM  1.     LEGAL  PROCEEDINGS

License  Agreements

     The Company and Louis DiFrancesco, the inventor of the PI Technology were
involved in litigation relating to the Company's ownership of its intellectual
property and the rights as to who should receive royalty payments from licenses,
which were outstanding as of September 3, 1996. On October 8, 2002, the Company
and DiFrancesco signed a settlement agreement enforced by Court Order. The Court
Order, among other things, declares that NanoPierce owns the entire, exclusive,
incontestable ownership, right, title and interest in the patents. The Court
Order further declares Mr. DiFrancesco owns the sole, exclusive, and
incontestable right, to receive and collect all royalties and other payment from
all licenses outstanding on September 3, 1996. Pursuant to the settlement
agreement, Mr. DiFrancesco was granted a limited two year, non-transferable,
with no right to sublicense, royalty-bearing license.

Financing  Agreement

     In connection with a financing obtained in October 2000, the Company filed
various actions in the United States District Court for the District of Colorado
against, among others, Harvest Court, LLC, Southridge Capital Investments, LLC,
Daniel Pickett, Patricia Singer and Thomson Kernaghan & Co., Ltd. for violations
of federal and state securities laws, conspiracy, aiding and abetting and common
law fraud among other claims. The Company is seeking various forms of relief
including actual, exemplary and treble damages. As a result of various
procedural rulings in January 2002, the United States District Court for the
District of Colorado transferred the case to the United States District Court
for the Southern District of New York, New York City, New York.

     In May 2001, Harvest Court, LLC filed suit against the Company in the
Supreme Court of the State of New York, County of New York. The suit alleges
that the Company breached an October 20, 2000 Stock Purchase Agreement, by not
issuing reset shares. Harvest Court, LLC is seeking the delivery of such shares
or damages in the alternative. In August 2001, the Supreme Court of the State of
New York, County of New York issued a preliminary injunction ordering the
Company to reserve and not transfer the shares allegedly due to Harvest Court.
The Company has filed counterclaims seeking various forms of relief against
Harvest Court, LLC.


                                        5
<PAGE>
     In January 2003, Harvest Court, LLC filed suit against the Company, Mr.
Metzinger and unrelated third parties in the United States District Court for
the Southern District of New York, New York City, New York. The suit alleges
violations of federal securities laws and common law fraud among other claims.
Harvest Court is seeking various forms of relief including compensatory and
punitive damages. The Company is preparing pleadings responsive to the
complaint.

     In September 2001, a suit was filed by Thomson Kernaghan & Co., Ltd.
against the Company and certain officers/directors of the Company seeking
damages for defamation. Thomson Kernaghan & Co., Ltd., subsequently filed for
protection under Canadian bankruptcy laws. In December 2002, the Company
received notice from the trustee in such proceedings that it would not pursue
the action and would move for dismissal of the litigation.

     The Company is also involved in other various claims and legal actions
arising in the ordinary course of business. In the opinion of management, the
ultimate disposition of the matter discussed above and other matters will not
have a material adverse impact either individually or in the aggregate on either
results of operations, financial position or cash flows of the Company.

ITEM  2.     CHANGES  IN  SECURITIES

     The Company made the following unregistered sales of its securities from
January 1, 2003 to March 31, 2003.

DATE OF       TITLE OF           NO. OF
 SALE         SECURITIES         SHARES        CONSIDERATION     PURCHASER
-------       ------------       -------       -------------     ---------

1/10/03       Common Stock        41,667         Financing      John Krupa
1/10/03       Warrant             41,667         Financing      John Krupa
1/10/03       Common Stock        33,333         Financing      William Fritz
1/10/03       Warrant             33,333         Financing      William Fritz
                                                                Gerard, Klauer,
1/10/03       Warrant            450,000         Services       Mattison


Exemption  From  Registration  Claimed
     All of the sales by the Company of its unregistered securities were made by
the Company in reliance upon Section 4(2) of the Act. All of the individuals
and/or entities listed above that purchased the unregistered securities were all
known to the Company and its management, through pre-existing business
relationships, as long standing business associates, friends, and employees. All
purchasers were provided access to all material information, which they
requested, and all information necessary to verify such information and were
afforded access to management of the Company in connection with their purchases.
All purchasers of the unregistered securities acquired such securities for
investment and not with a view toward distribution, acknowledging such intent to
the Company.


                                        6
<PAGE>
All certificates or agreements representing such securities that were issued
contained restrictive legends, prohibiting further transfer of the certificates
or agreements representing such securities, without such securities either being
first registered or otherwise exempt from registration in any further resale or
disposition.

ITEM  4.  CONTROLS  AND  PROCEDURES

     A review and evaluation was performed by the Company's management,
including the Company's Chief Executive Officer (the "CEO") and Chief Financial
Officer (the "CFO"), of the effectiveness of the design and operation of the
Company's disclosure controls and procedures as of a date within 90 days prior
to the filing of this quarterly report. Based on that review and evaluation, the
CEO and CFO have concluded that the Company's current disclosure controls and
procedures, as designed and implemented, were effective. There have been no
significant changes in the Company's internal controls subsequent to the date of
their evaluation. There were no significant material weaknesses identified in
the course of such review and evaluation and, therefore, no corrective measures
were taken by the Company.


                                        7
<PAGE>
ITEM  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

     (a)  EXHIBITS

          Exhibit 11 Computation of Net Loss Per Share

          Exhibit 99 Section 1350 Certification

     (B)  FORM 8-K

          April 1, 2003 - Regarding the filing of insolvency by
                          NanoPierce Card Technologies, Gmbh



                                        8
<PAGE>
                                   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.

                                    NANOPIERCE TECHNOLOGIES, INC.
                                    (REGISTRANT)

Date: May 14, 2003                  /s/ Paul H. Metzinger
                                    ------------------------------------
                                    Paul H. Metzinger, President & CEO


Date: May 14, 2003                  /s/ Kristi J. Kampmann
                                    ------------------------------------
                                    Kristi J. Kampmann,
                                         Chief Financial Officer



                                        9
<PAGE>
                                  CERTIFICATION
                                  -------------

I, Paul H. Metzinger, certify that:

1.   I  have  reviewed  this  quarterly  report  on  Form  10-QSB  of NanoPierce
     Technologies,  Inc.;

2.   Based  on  my  knowledge, this quarterly report does not contain any untrue
     statement  of a material fact or omit to state a material fact necessary to
     make  the  statements  made, in light of the circumstances under which such
     statements  were made, not misleading with respect to the period covered by
     this  quarterly  report;

3.   Based  on  may  knowledge,  the  financial  statements, and other financial
     information  included  in  this  quarterly  report,  fairly  present in all
     material  respects  the financial condition, results of operations and cash
     flows  of  the  registrant  as  of,  and for, the periods presented in this
     quarterly  report;

4.   The  registrant's  other  certifying  officers  and  I  are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in  Exchange  Act  Rules  13a-14  and  15d-14) for the registrant and have:

     a.   Designed  such  disclosure  controls  and  procedures  to  ensure that
          material  information  relating  to  the  registrant,  including  its
          consolidated  subsidiaries, is made known to us by others within those
          entities,  particularly  during  the  period  in  which this quarterly
          report  is  being  prepared;
     b.   Evaluated  the  effectiveness  of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this  quarterly  report  (the  "Evaluation  Date");  and
     c.   Presented  in  this  quarterly  report  our  conclusions  about  the
          effectiveness  of  the disclosure controls and procedures based on our
          evaluation  as  of  the  Evaluation  Date;

5.   The  registrant's  other certifying officers and I have disclosed, based on
     our  most  recent  evaluation,  to  the registrant's auditors and the audit
     committee  of  registrant's  board  of directors (or persons performing the
     equivalent  functions):

     a.   All  significant  deficiencies  in the design or operation of internal
          controls  which  could  adversely  affect  the registrant's ability to
          record,  process,  summarize  and  report  financial  data  and  have
          identified  for  the  registrant's auditors any material weaknesses in
          internal  controls;  and
     b.   Any  fraud, whether or not material, that involves management or other
          employees  who  have  a  significant role in the registrant's internal
          controls;  and


<PAGE>
6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly  report whether or not there were significant changes in internal
     controls  or  in  other  factors  that  could significantly affect internal
     controls  subsequent  to  the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


Date: May 14, 2003



                                             /s/ Paul H. Metzinger
                                             -----------------------------------
                                             Paul H. Metzinger,
                                             Chief Executive Officer & President


<PAGE>
                                  CERTIFICATION
                                  -------------

I, Kristi J. Kampmann, certify that:

1.   I  have  reviewed  this  quarterly  report  on  Form  10-QSB  of NanoPierce
     Technologies,  Inc.;

2.   Based  on  my  knowledge, this quarterly report does not contain any untrue
     statement  of a material fact or omit to state a material fact necessary to
     make  the  statements  made, in light of the circumstances under which such
     statements  were made, not misleading with respect to the period covered by
     this  quarterly  report;

3.   Based  on  may  knowledge,  the  financial  statements, and other financial
     information  included  in  this  quarterly  report,  fairly  present in all
     material  respects  the financial condition, results of operations and cash
     flows  of  the  registrant  as  of,  and for, the periods presented in this
     quarterly  report;

4.   The  registrant's  other  certifying  officers  and  I  are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in  Exchange  Act  Rules  13a-14  and  15d-14) for the registrant and have:

     a.   Designed  such  disclosure  controls  and  procedures  to  ensure that
          material  information  relating  to  the  registrant,  including  its
          consolidated  subsidiaries, is made known to us by others within those
          entities,  particularly  during  the  period  in  which this quarterly
          report  is  being  prepared;
     b.   Evaluated  the  effectiveness  of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this  quarterly  report  (the  "Evaluation  Date");  and
     c.   Presented  in  this  quarterly  report  our  conclusions  about  the
          effectiveness  of  the disclosure controls and procedures based on our
          evaluation  as  of  the  Evaluation  Date;

5.   The  registrant's  other certifying officers and I have disclosed, based on
     our  most  recent  evaluation,  to  the registrant's auditors and the audit
     committee  of  registrant's  board  of directors (or persons performing the
     equivalent  functions):

     a.   All  significant  deficiencies  in the design or operation of internal
          controls  which  could  adversely  affect  the registrant's ability to
          record,  process,  summarize  and  report  financial  data  and  have
          identified  for  the  registrant's auditors any material weaknesses in
          internal  controls;  and
     b.   Any  fraud, whether or not material, that involves management or other
          employees  who  have  a  significant role in the registrant's internal
          controls;  and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly  report whether or not there were significant changes in internal
     controls  or  in  other  factors  that  could significantly affect internal
     controls  subsequent  to  the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


Date: May 14, 2003



                                             /s/ Kristi J. Kampmann
                                             -----------------------------------
                                             Kristi J. Kampmann,
                                                Chief Financial Officer


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