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  December  31,  2002

                                       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  February  10, 2003 there were 63,480,580 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 - December 31, 2002             F-3

     Condensed  Consolidated  Statements  of  Operations  -
          Three  months  and  six  months  ended
          December  31,  2002  and  2001                                     F-4

     Condensed  Consolidated  Statements  of  Comprehensive
          Loss  -  Three  months  and  six  months  ended
          December  31,  2002  and  2001                                     F-5

     Condensed  Consolidated  Statement  of  Changes  in  Stockholders'
          Equity  -  Six  months  ended  December  31, 2002                  F-6

     Condensed  Consolidated  Statements  of  Cash  Flows  -
          Six  months  ended  December  31,  2002  and 2001                  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                                                  4

Item  2.  Changes  in  Securities                                             5

Item  4.  Controls  and  Procedures                                           7

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

     SIGNATURES                                                               9

     CERTIFICATIONS


<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 December 31, 2002, the
related  condensed  consolidated statements of operations and comprehensive loss
for  the three-month and six-month periods ended December 31, 2002 and 2001, the
condensed  consolidated  statement  of  changes  in shareholders' equity for the
six-month  period  ended  December  31,  2002,  and  the  condensed consolidated
statements  of  cash flows for the six-month periods ended December 31, 2002 and
2001.  These  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 auditing standards generally accepted in the United States of
America,  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 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
February  7,  2003


                                      F-2
<PAGE>
<TABLE>
<CAPTION>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
                      Condensed Consolidated Balance Sheet
                                December 31, 2002
                                  (Unaudited)


                                  Assets
                                  ------
<S>                                                                <C>
Current assets:
  Cash and cash equivalents                                        $  1,143,303
  Accounts receivable                                                    12,863
  Prepaid expenses                                                      202,436
                                                                   -------------
    Total current assets                                              1,358,602
                                                                   -------------

Property and equipment:
  Machinery                                                             240,061
  Office equipment and furniture                                        219,023
  Leasehold improvements                                                138,776
                                                                   -------------
                                                                        597,860
  Less accumulated depreciation                                        (301,191)
                                                                   -------------
                                                                        296,669
                                                                   -------------

Other assets:
  Deposits and other                                                    296,198
  Intellectual property rights, net of accumulated
    amortization of $484,315                                            515,685
  Patent and trademark applications, net of accumulated
    amortization of $43,277                                             283,102
                                                                   -------------
                                                                      1,094,985
                                                                   -------------

       Total assets                                                $  2,750,256
                                                                   =============

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

Current liabilities:
  Accounts payable                                                 $    359,644
  Accrued liabilities                                                    63,922
                                                                   -------------

    Total liabilities - all current                                     423,566
                                                                   -------------

Commitments and contingencies (Notes 4 and 5)

Shareholders' equity (Note 3):
  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
     63,398,580 shares issued and outstanding                             6,340
  Additional paid-in capital                                         21,078,865
  Accumulated other comprehensive income                                171,550
  Accumulated deficit                                               (18,930,065)
                                                                   -------------
      Total shareholders' equity                                      2,326,690
                                                                   -------------

        Total liabilities and shareholders' equity                 $  2,750,256
                                                                   =============
</TABLE>

See notes to condensed consolidated financial statements.


                                      F-3
<PAGE>
<TABLE>
<CAPTION>
                    NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
                    Condensed Consolidated Statements of Operations
                 Three and Six Months Ended December 31, 2002 and 2001
                                      (Unaudited)

                                      Three Months Ended         Six Months Ended
                                          December 31,             December 31,
                                   -------------------------  ------------------------

                                       2002         2001         2002         2001
                                   ------------  -----------  -----------  -----------

<S>                                <C>           <C>          <C>          <C>
Revenues                           $    46,580       36,097      105,754       60,163
                                   ------------  -----------  -----------  -----------

Operating expenses:
  Research and development             145,752       94,896      314,929      202,348
  General and administrative           607,905    1,291,106    1,364,656    2,236,010
  Selling and marketing                150,633       22,151      306,918       40,142
                                   ------------  -----------  -----------  -----------
                                       904,290    1,408,153    1,986,503    2,478,500
                                   ------------  -----------  -----------  -----------

Loss from operations                (  857,710)  (1,372,056)  (1,880,749)  (2,418,337)
                                   ------------  -----------  -----------  -----------

Other income (expense):
  Interest income                        2,205       33,178        6,519       83,139
  Interest expense                           -   (    5,923)           -   (    5,923)
                                   ------------  -----------  -----------  -----------
                                         2,205       27,255        6,519       77,216
                                   ------------  -----------  -----------  -----------
Net loss                           $ ( 855,505)  (1,344,801)  (1,874,230)  (2,341,121)
                                   ============  ===========  ===========  ===========

Net loss per share,
  basic and diluted                $ (    0.01)  (     0.02)  (     0.03)  (     0.04)
                                   ============  ===========  ===========  ===========

Weighted average number of common
  shares outstanding                60,593,585   55,710,198   59,117,467   55,714,507
                                   ============  ===========  ===========  ===========
</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 Six Months Ended December 31, 2002 and 2001
                                  (Unaudited)

                                 Three Months Ended        Six Months Ended
                                    December 31,             December 31,
                              ------------------------  ------------------------
                                 2002         2001         2002         2001
                              -----------  -----------  -----------  -----------
<S>                           <C>          <C>          <C>          <C>
Net loss                      $ (855,505)  (1,344,801)  (1,874,230)  (2,341,121)

Change in unrealized gain on
  securities                          47           83          (71)        (154)

Change in foreign currency
  translation adjustments         25,309        4,937       30,209       43,799
                              -----------  -----------  -----------  -----------

Comprehensive loss            $ (830,149)  (1,339,781)  (1,844,092)  (2,297,476)
                              ===========  ===========  ===========  ===========
</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
                                         Six Months Ended December 31, 2002
                                                    (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)           5,691,190          569          1,569,890                  -               -    1,570,459

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

Warrants issued for
  services                            -            -              3,190                  -               -        3,190

Net loss                              -            -                  -                  -      (1,874,230)  (1,874,230)

Other comprehensive
  income:
    Change in unrealized
      gain on securities              -            -                  -                (71)              -          (71)
    Foreign currency
      translation
      adjustments                     -            -                  -             30,209               -       30,209
                           ------------  -----------  ------------------  -----------------  --------------  -----------
Balances,
  December 31, 2002          63,398,580  $     6,340         21,078,865            171,550     (18,930,065)   2,326,690
                           ============  ===========  ==================  =================  ==============  ===========
</TABLE>

See  notes  to  condensed  consolidated  financial  statements.


                                      F-6
<PAGE>
<TABLE>
<CAPTION>
                   NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
                   Condensed Consolidated Statements of Cash Flows
                Six Months Ended December 31, 2002 and December 2001
                                     (Unaudited)

                                                               2002         2001
                                                           ------------  -----------
<S>                                                        <C>           <C>
Cash flows from operating activities:
 Net loss                                                  $(1,874,230)  (2,341,121)
                                                           ------------  -----------
 Adjustments to reconcile net loss to net cash used
  in operating activities:
  Amortization expense                                          66,316       57,698
  Depreciation expense                                          76,265      107,866
  Amortization of deferred legal costs                               -      500,000
  Expenses incurred in exchange for
    common stock and warrants                                   12,535       27,360
  Changes in operating assets and liabilities:
    Decrease (Increase) in accounts receivable                  85,200      (12,814)
    Increase in prepaid expense                               (139,950)     (52,677)
    Decrease (Increase) in deposits and other assets            14,010      (47,372)
    Increase in accounts payable and
     accrued liabilities                                       141,591       16,578
   Increase in deferred revenue                                      -       48,043
                                                           ------------  -----------
 Total adjustments                                             255,967      644,682
                                                           ------------  -----------

    Net cash used in operating activities                   (1,618,263)  (1,696,439)
                                                           ------------  -----------

Cash flows from investing activities:
  Increase in patent and trademark applications                (56,772)     (70,653)
  Increase in note receivable                                        -      (35,000)
  Purchase of property and equipment                           (20,918)    (174,063)
  Payments received on notes receivable                        170,779      399,590
                                                           ------------  -----------
    Net cash provided by investing activities                   93,089      119,874
                                                           ------------  -----------

Cash flows from financing activities:
  Issuance of common stock and warrants for cash             1,570,459            -
                                                           ------------  -----------
    Net cash provided by financing activities                1,570,459            -
                                                           ------------  -----------

Effect of exchange rate changes on cash
  and cash equivalents                                           4,941        2,490
                                                           ------------  -----------

Net increase (decrease) in cash and cash equivalents            50,226   (1,574,075)

Cash and cash equivalents, beginning                         1,093,077    3,384,536
                                                           ------------  -----------

Cash and cash equivalents, ending                            1,143,303    1,810,461
                                                           ============  ===========

Supplemental disclosure of cash flow information:
  Cash paid for interest                                   $         -        5,923
                                                           ============  ===========
</TABLE>

See notes to condensed consolidated financial statements.


                                      F-7
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
            Six Months Ended December 31, 2002 and December 31, 2001
                                   (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 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 six months ended December 31, 2002
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 $1,874,230 for the six months
ended  December  31,  2002,  and  an  accumulated  deficit  of $18,930,065 as of
December 31, 2002.  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.
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 5,691,190 shares
of  common  stock  and  warrants in exchange for approximately $1.6 million cash
during  the  quarter  ended  December  31,  2002  (Note  3).  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  4).


                                      F-8
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
            Six Months Ended December 31, 2002 and December 31, 2001
                                   (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.

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 December 31,
2002,  NCOS  activities consisted of research and development and administrative
functions.  NCT  activities  through  December  31,  2002 consisted primarily of
providing  software  development  and  implementation  services,  and performing
administrative,  research and development, and selling and marketing activities.
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  principle
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.  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.


                                      F-9
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
            Six Months Ended December 31, 2002 and December 31, 2001
                                   (Unaudited)

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  (14,003,852 shares at December 31, 2002 and 9,642,661
shares  at  December  31, 2001) would be to decrease loss per share.  Therefore,
diluted  loss  per  share  is  equivalent  to  basic  loss  per  share.

2.  Note  receivable:

During  the six months ended December 31, 2002, 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.

3.  Stockholders'  Equity:

During  the six months ended December 31, 2002, 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 six months ended December 31, 2002, the Company sold 5,691,190 shares
of  restricted  common stock along with warrants to purchase 4,616,191 shares of
common  stock  at exercise prices ranging from $0.30 to $0.60 per share for cash
of $1,570,459 (net of offering costs of $75,500). The common stock was issued at
a  discount  from  the  market prices. The warrants are exercisable immediately.
Warrants  to  purchase  1,176,191  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 5,691,190 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.


                                      F-10
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
            Six Months Ended December 31, 2002 and December 31, 2001
                                   (Unaudited)


During the six months ended December 31, 2002, 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 officer/director of the Company. During the six
months  ended  December  31, 2001, 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  officer/director  of  the Company. The exercise prices of the
options granted in 2002 and 2001 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  six  months ended December 31, 2002, 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.

During  the six months ended December 31, 2002, the Company issued 56,388 shares
of  common  stock  upon  the  cashless  exercise of warrants to purchase 105,000
shares  of  common  stock.

In  January  2003,  the  Company  sold  75,000 shares of common stock along with
warrants  to  purchase  75,000 shares of common stock at exercise prices ranging
from  $0.30 to $0.36 for $25,000.  The warrants are exercisable through 2006 and
contain  a  cashless  exercise  provision.

In  January  2003,  options  on 14,476 shares were exercised, (cashless exercise
election)  in  exchange  for  7,000  shares  of  common  stock.

In  January  2003,  the  Company  issued a warrant to purchase 450,000 shares of
common  stock at $0.60 per share in connection with services to be received from
a third party (Note 4).  The warrant expires in 2010.  The warrant was valued at
approximately  $230,000  using  the  Black-Scholes  pricing  model.

In  January  2003,  warrants  to  purchase  630,000 shares of common stock at an
exercise  price  of  $2.92  per  share  expired.


                                      F-11
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
            Six Months Ended December 31, 2002 and December 31, 2001
                                   (Unaudited)

4.  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  subissue.

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, 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.

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.


                                      F-12
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
            Six Months Ended December 31, 2002 and December 31, 2001
                                   (Unaudited)


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., subsequently filed for protection under
Canadian bankruptcy laws. In December 2002, the Company received notice from the
bankruptcy  trustee of the 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 January 10,
2003.

Compensation  to  the  Placement  Agent  is  to consist of a retainer fee, which
consists  of  a warrant to purchase up to 450,000 shares of the Company's common
stock,  exercisable immediately, with an exercise price of $0.60 per share and a
term  of seven years. The warrant provides for a cashless exercise. 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-13
<PAGE>
                 NANOPIERCE TECHNOLOGIES, INC. AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
            Six Months Ended December 31, 2002 and December 31, 2001
                                   (Unaudited)


5.  Foreign  and  Domestic  Operations:

The  Company's  revenues  during  the  three-month  and  six-month periods ended
December  31,  2002 and 2001 were generated solely in Germany. Operating results
for  the  three-month and six-month periods ended December 31, 2002 and 2001, by
geographic  area,  are  presented  in  the table below. There was no significant
amount  of  transfers  between  geographic  areas.

<TABLE>
<CAPTION>
                      Three Months Ended  Six Months Ended
                         December 31        December 31
                      -------------------  ---------------

                       2002       2001      2002     2001
                      -------  ----------  -------  ------
<S>                   <C>      <C>         <C>      <C>
Revenues:
  United States       $     -           -        -       -
  Germany              46,580      36,097  105,754  60,163
                      -------  ----------  -------  ------

  Total               $46,580      36,097  105,754  60,163
                      =======  ==========  =======  ======

Long-lived assets at
  December 31, 2002:
    United States              $1,046,645
    Germany                        48,811
                               ----------

    Total                      $1,095,456
                               ==========
</TABLE>


                                      F-14
<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  2  to  the  Financial  Statements.

RESULTS  OF  OPERATIONS

     The  Company  recognized  $105,754  in revenues during the six months ended
December  31,  2002  ($46,580  for  the  three  months  ended December 31, 2002)
compared  to  $60,163 in the six months ended December 31, 2001 ($36,097 for the
three months ended December 31, 2001).  Of the $105,754 in revenues, $96,527 was
generated  from  various  software development contracts generated by NanoPierce
Card,  the  remaining  $9,227  was  generated  from the sale of inlay samples to
potential customers by ExypnoTech.  The Company expects to continue to recognize
revenue  from  software  development  contracts  currently  in  place  and being
developed  at  this  time.  In  addition,  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.

     The  Company  recognized  $6,519  in  interest income during the six months
ended December 31, 2002 ($2,205 during the three months ended December 31, 2002)
compared  to  $83,139  during  the  six  months ended December 31, 2001 ($33,178
during the three months ended December 31, 2001). The decrease of $76,620 is due
primarily  to  the  use  of  cash  to  support  operations.

     Total operating expenses during the six months ended December 31, 2002 were
$1,986,503  ($904,290  for the three months ended December 31, 2002) compared to
$2,478,500  for the six months ended December 31, 2001 ($1,408,153 for the three
months  ended  December  31,  2001).  The  decrease  of  $491,997  is  primarily
attributable  to a decrease in general and administrative expenses, as described
below.

     General  and  administrative  expenses during the six months ended December
31, 2002 were $1,364,656 ($607,905 for the three months ended December 31, 2002)
compared  to  $2,236,010  for the six months ended December 31, 2001 ($1,291,106
for  the  three  months  ended  December  31, 2001). The decrease of $871,354 is
primarily  attributable  to  a  $605,968 decrease in legal expenses. Selling and
marketing  expenses  during the six months ended December 31, 2002 were $306,918
($150,633  for  the  three  months  ended December 31, 2002) compared to $40,412
during  the  six  months  ended  December 31, 2001 ($22,151 for the three months
ended  December  31,  2001).  The increase of $266,506 was due to an increase in
marketing  activities  throughout  the  Company.


                                        1
<PAGE>
Research  and development expenses during the six months ended December 31, 2002
were  $314,929  ($145,752 for the three months ended December 31, 2002) compared
to  $202,348  for  the six months ended December 31, 2001 ($94,896 for the three
months ended December 31, 2001). The increase of $112,581 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 six months ended December 31, 2002 the Company recognized a net
loss  of  $1,874,230  ($855,505  for  the  three months ended December 31, 2002)
compared  to  a  net loss of $2,341,121 during the six months ended December 31,
2001  ($1,344,801 for the three months ended December 31, 2001). The decrease of
$466,891  is  explained by the decrease of $597,751 in operating expenses and an
increase  of  $45,591  in  revenues, offset by a decrease of $76,620 in interest
income.

LIQUIDITY  AND  FINANCIAL  CONDITION

     The  Company's  current  operations are not generating positive cash flows.
During the six months ended December 31, 2002, the Company sold 5,691,190 shares
of  common  stock  and  granted  warrants to purchase 4,616,191 shares of common
stock  at  exercise  prices  ranging  from $0.30 to $0.50 for $1,570,459 (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.

     On 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 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  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 six months ended December 31, 2002,
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 six months
ended  December 31, 2002, the outstanding balance of the note, $26,858, of which
$788  was  accrued  interest,  was  paid  in  full.


                                        2
<PAGE>
     During  the  six  months  ended December 31, 2002, 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 December 31,
2002,  the  Company has net patent and trademark applications costs of $283,102,
compared  to  $146,265 on December 31, 2001. The increase of $136,837 was 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  technology and/or its
WaferPierce  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  though  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 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.  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.


                                        3
<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  subissue,  royalty-bearing  license.

Financing  Agreement

     In  connection with a financing obtained in October 2000, the Company filed
various actions in the Untied 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, 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.


                                        4
<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
October  1,  2002  to  December  31,  2002.

<TABLE>
<CAPTION>
DATE OF SALE  TITLE OF SECURITIES  NO. OF SHARES         CONSIDERATION                     PURCHASER
------------  -------------------  -------------  ----------------------------  -------------------------------
<C>           <S>                  <C>            <C>                           <C>
     10/2/02  Common Stock                50,000  Financing                     Neptune Investments Group, Ltd.
     10/2/02  Warrant                    100,000  Financing                     Neptune Investments Group, Ltd.
    10/10/02  Common Stock               220,000  Financing                     Neptune Investments Group, Ltd.
    10/10/02  Warrant                    440,000  Financing                     Neptune Investments Group, Ltd.
    10/17/02  Common Stock                83,333  Financing                     David Weilage
    10/17/02  Common Stock               383,333  Financing                     Martin Ida
    10/17/02  Common Stock               383,333  Financing                     Robert Ida
    10/17/02  Warrant                     25,000  Financing                     David Weilage
    10/17/02  Warrant                    115,000  Financing                     Martin Ida
    10/17/02  Warrant                    115,000  Financing                     Robert Ida
    10/28/02  Common Stock                18,796  Cashless Exercise of Warrant  John Krupa
    10/28/02  Common Stock                18,796  Cashless Exercise of Warrant  Mallory Smith
    10/28/02  Common Stock                18,796  Cashless Exercise of Warrant  Robert Lovell
</TABLE>


                                        5
<PAGE>
<TABLE>
<CAPTION>
DATE OF SALE  TITLE OF SECURITIES  NO. OF SHARES  CONSIDERATION                PURCHASER
------------  -------------------  -------------  -------------  --------------------------------------
<C>           <S>                  <C>            <C>            <C>
    11/18/02  Common Stock                70,000  Financing      Patricia Schoebaum
    11/18/02  Warrant                     70,000  Financing      Patricia Schoebaum
    11/20/02  Common Stock                50,000  Financing      Dennis Ferraro
    11/20/02  Common Stock               166,667  Financing      Gerald Dooher
    11/20/02  Common Stock                50,000  Financing      Paul Demott
    11/20/02  Common Stock                50,000  Financing      Rodney Hock
    11/20/02  Common Stock                50,000  Financing      Dennis McGuire
    11/20/02  Common Stock                83,333  Financing      Larry S. Pisciotta
    11/20/02  Common Stock                33,333  Financing      Vail Valley Emergency Physician Profit
    11/20/02  Warrant                     50,000  Financing      Dennis Ferraro
    11/20/02  Warrant                    166,667  Financing      Gerald Dooher
    11/20/02  Warrant                     50,000  Financing      Paul Demott
    11/20/02  Warrant                     50,000  Financing      Rodney Hock
    11/20/02  Warrant                     50,000  Financing      Dennis McGuire
    11/20/02  Warrant                     83,333  Financing      Larry S. Pisciotta
    11/20/02  Warrant                     33,333  Financing      Vail Valley Emergency Physician Profit
    11/21/02  Common Stock             3,750,000  Financing      GruneSchild, LLC
    11/21/02  Warrant                  3,000,000  Financing      GruneSchild, LLC
    11/26/02  Common Stock               142,858  Financing      David Schulze
    11/26/02  Warrant                    142,858  Financing      David Scholze
    12/11/02  Common Stock               125,000  Financing      John Provazek
    12/11/02  Warrant                    125,000  Financing      John Provazek
</TABLE>


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.  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.


                                        6
<PAGE>
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  99.1  Certification of Principal Executive Officer

          Exhibit  99.2  Certification of Principal Financial Officer

     (b)  FORM  8-K

          None.


                                        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:  February 13, 2003             /s/ Paul H. Metzinger
                                     ------------------------------------
                                     Paul H. Metzinger, President & CEO


Date:  February 13, 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 my  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:  February  13,  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 my  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:  February  13,  2003



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


<PAGE>