UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON D.C. 20549

                                   FORM 10-QSB
                                -----------------

               QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                       For the quarter ended June 30, 2000

                         Commission file number 0-18515



                       Therapy Lasers, Inc. and Subsidiary
                       Incorporated in the State of Nevada
                    Employer Identification Number 93-0960302

                                10450 Westoffice
                              Houston, Texas 77042
                                 (713) 339-2722


Check whether the issuer (1) timely 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; Yes [ ] No [X]

and (2) has been subject to such filing requirements for the past 90 days.
Yes [X] No [ ]

As of June 30, 2000 there were outstanding 5,860,263 shares of Therapy Lasers,
Inc. Common Stock, par value $.001.

TRANSITIONAL SMALL BUSINESS DISCLOSURE FORMAT (CHECK ONE): Yes [ ] No [X]
<PAGE>
                              Therapy Lasers, Inc.
                              Index to Form 10-QSB


                                     Part I


FINANCIAL INFORMATION (UNAUDITED)

ITEM 1.  FINANCIAL STATEMENTS

Balance Sheets as of June 30, 2000 and February 28,2000(Audited)

Statements of Operations for the Three and Six Months Ended March 31, 1999/2000
and June 30, 1999/2000

Statements of Cash Flows for the Three and Six Months Ended March 31, 1999/2000
and June 30, 1999/2000

Notes to Financial Statements

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
      FINANCIAL CONDITION AND RESULTS OF OPERATIONS

                                     Part II


OTHER INFORMATION

      Item 6

SIGNATURES

<PAGE>
                          PART 1. FINANCIAL INFORMATION

ITEM 1.  Financial statements

                              THERAPY LASERS, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                                 BALANCE SHEETS

                                                      JUNE 30,      FEBRUARY 28,
                                                        2000            2000
                                                    (UNAUDITED)       AUDITED
                                                    -----------     -----------
ASSETS
  Current assets:
    Cash .......................................    $   140,150     $       891
    Accounts receivable.........................      1,073,889
    Inventory...................................        793,538
                                                    -----------     -----------
      Total current assets .....................      2,007,577             891
                                                    -----------     -----------

  Property and equipment, net of accumulated
   depreciation of $233,883 ....................        182,507            --
                                                    -----------     -----------

  Other assets .................................         15,252            --
                                                    -----------     -----------
       Total assets ............................    $ 2,205,336     $       891
                                                    ===========     ===========


LIABILITIES
  Current liabilities:
    Accounts payable and accrued expenses ......    $   769,208     $    22,543
    Due to related parties .....................        122,000           6,000
                                                    -----------     -----------
                                                        891,208          28,543
      Total current liabilities
    Notes payable ..............................      2,041,453            --
                                                    -----------     -----------
       Total liabilities .......................      2,932,661          28,543
                                                    -----------     -----------

  Commitments and contingencies ................           --              --

STOCKHOLDERS' EQUITY (DEFICIT)
  Common stock, par value $.001 per share,
    100,000,000 shares authorized, 5,860,263 and
    11,302,627 shares, respectively, issued and
    outstanding ................................          5,830          11,303
  Capital in excess of par value ...............      3,278,489       4,653,466

  Accumulated deficit:
    Prior operating accumulated deficit ........     (4,452,105)     (4,452,105)
    Accumulated during the development stage ...        440,461        (240,316)
                                                    -----------     -----------
      Total stockholders' equity (deficit) .....        727,325         (27,652)
                                                    -----------     -----------
      Total liabilities and stockholders'
        equity .................................    $ 2,205,336     $       891
                                                    ===========     ===========
See accompanying notes

<PAGE>
                              THERAPY LASERS, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                            STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
                                THREE MONTHS ENDED                SIX MONTHS ENDED
                                    MARCH 31,                          JUNE 30,
                            ---------------------------     ---------------------------
                                2000           1999            2000            1999
                            (UNAUDITED)     (UNAUDITED)     (UNAUDITED)     (UNAUDITED)
                            -----------     -----------     -----------     -----------
<S>                           <C>           <C>             <C>             <C>
Revenues ...............      1,632,337     $ 1,346,876     $ 3,452,129     $ 2,880,134
Cost of Goods Sold .....        938,160         843,514       2,052,871       1,773,632
                            -----------     -----------     -----------     -----------
Gross Profit ...........        694,177         503,361       1,399,258       1,106,503
                            -----------     -----------     -----------     -----------

Expenses:
  Sales and marketing ..         95,996          72,144         198,796         126,149

  Depreciation .........         14,232          11,069          28,105          30,242
  Other general and
    administrative......        540,012         387,860         719,900         858,235
                            -----------     -----------     -----------     -----------
    Total expenses .....        650,240         471,073         946,801       1,014,626
                            -----------     -----------     -----------     -----------
    Income (loss) from
         operations ....         43,937          32,288         452,457          91,877

Other income (expenses):

  Interest .............        (22,291)        (31,150)        (59,737)        (38,962)
  Loss on sale of assets        (20,431)                        (20,431)
                            -----------     -----------     -----------     -----------

    Net earnings .......    $     1,215     $     1,138     $   372,489     $    52,915
                            ===========     ===========     ===========     ===========



Basic earnings per share    $      0.00     $      0.00     $      0.06     $      0.00
                            ===========     ===========     ===========     ===========

Weighted average number
  of shares outstanding       5,816,689       5,776,262       5,860,263       5,803,263
                            ===========     ===========     ===========     ===========
</TABLE>
See accompanying notes.

<PAGE>
                              THERAPY LASERS, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                            STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                      THREE MONTHS ENDED               SIX MONTHS ENDED
                                           MARCH 31,                       JUNE 30,
                                  ---------------------------     ---------------------------
                                      2000           1999            2000            1999
                                   UNAUDITED       UNAUDITED       UNAUDITED       UNAUDITED
                                  -----------     -----------     -----------     -----------
<S>                               <C>             <C>             <C>             <C>
Cash flows from operating
  activities:

  Net earnings ...............    $     1,215     $     1,138     $   372,489     $    52,915

Adjustments to reconcile net
  earnings to net cash flows
  from operating activities:
  Loss on sale of equipment ..         14,233          11,069          14,233          30,242
  Depreciation ...............         20,431            --            20,431            --
  (Increase) decrease in
    accounts receivable ......         20,710         434,625        (311,270)        350,003
  (Increase) decrease in
    inventories ..............        (65,398)         95,458        (407,993)         75,927
  Increase (decrease) in
    accounts payable .........         77,534         197,960         172,013         218,636
                                  -----------     -----------     -----------     -----------
    Net cash flows from
      operating activities ...         68,725         740,250        (140,097)        727,723
                                  -----------     -----------     -----------     -----------

Cash flows from investing
  Activities - acquisitions ..           --              --        (1,299,845)           --
                                  -----------     -----------     -----------     -----------

Cash flows from financing
  activities:
    Advance from related party           --              --              --           209,555
    Repayment of note payable         (53,542)       (865,390)        (78,020)     (1,076,090)
    Debt issuance ............           --              --         1,440,000            --
                                  -----------     -----------     -----------     -----------
    Net cash flows from
      financing activities ...        (53,542)       (865,390)      1,361,980         866,535
                                  -----------     -----------     -----------     -----------
    Net increase in cash and
      cash equivalents .......         15,183        (126,278)        (77,962)       (138,812)
Cash and cash equivalents,
  beginning of period ........        218,112         314,586         218,112         314,586
                                  -----------     -----------     -----------     -----------
Cash and cash equivalents, end
  of period ..................    $   233,295     $   188,308     $   140,150     $   175,774
                                  ===========     ===========     ===========     ===========

Supplementary cash flow
  information:
  Cash paid for interest .....    $    22,291     $    31,150     $    59,737     $    38,962
</TABLE>
See accompanying notes.

<PAGE>
                              THERAPY LASERS, INC.
                          NOTES TO FINANCIAL STATEMENTS


NOTE 1 - BASIS OF PRESENTATION:
The financial statements include the accounts of Therapy Lasers, Inc. and its
subsidiaries. The balance sheet as of June 30, 2000, the statements of
operations for the three months ended March 31, 2000 and 1999 and the six months
ended June 30, 2000 and 1999, and the statements of cash flows for same periods
in 2000 and 1999 have been prepared by the Company without audit. In the opinion
of management, these financial statements include all adjustments necessary to
present fairly the financial position, results of operations and cash flows as
of June 30, 2000 and for all periods presented except as explained in note 2.
All adjustments made have been of a normal recurring nature. Certain information
and footnote disclosures normally included in the financial statements prepared
in accordance with generally accepted accounting principles have been condensed
or omitted. The Company believes that the disclosures included are adequate and
provide a fair presentation of interim period results. Interim financial
statements are not necessarily indicative of financial position or operating
results for an entire year. It is suggested that these interim financial
statements be read in conjunction with the audited financial statements and the
notes thereto included in the Company's Form 10-K for the year ended February
28, 2000 filed with the United States Securities and Exchange Commission (SEC)
on or about June 23,2000.

NOTE 2 - THE COMPANY:
Therapy Lasers, Inc. (the Company) is a Nevada corporation engaged principally
in searching for capital, in organizing and developing a wholesale electrical
components business, and in investigating other business opportunities. From
March 1, 1995 until late 1996, the Company was attempting to establish markets
in foreign countries (primarily Mexico and Canada) for medical laser products it
had developed, and was seeking financing to obtain approval of the Food and Drug
Administration to market the medical laser products in the United States. In
late 1996, the Company substantially discontinued its efforts in the laser
field, as its efforts had been unsuccessful. Also in late 1996, the Company
commenced activities in the wholesale electrical components business, serving as
a non-stocking sales representative based in Houston, Texas for an affiliated
company. In that connection, the Company sells primarily to another affiliated
company. At quarter end, the Company was investigating other opportunities in
related fields.

The Company is deemed to have been in the development stage since March 1, 1995.
Prior to that time, it was in the operating stage and was engaged in the sale
and rental of medical supplies and equipment; these operations have been sold
and/or discontinued.


On February 27, 1995, the Company changed its name from Medeci Corporation to
Therapy Lasers, Inc.

On April 24, 2000, the Board of Directors approved a 1 for 10 reverse split of
the Company's common shares. Thereafter, on April 28, 2000, the Company acquired
three companies controlled by the Company's principal shareholder, effective
April 28, 2000, for stock and notes. The companies acquired and consideration
paid were as follows:

<PAGE>
         COMPANY                                     CONSIDERATION

(1) Gulf Coast Fan & Light, Inc.           3,500,000 shares of the Company's
                                           common stock, plus three promissory
                                           notes in the amount of:
                                             $1,000,000 payable $12,133 monthly,
                                                        including 8% interest,
                                                        10 years
                                             $  390,000 payable $7,908 monthly,
                                                        including 8% interest,
                                                        5 years
                                             $   50,000 payable $1,567 monthly,
                                                        including 8% interest,
                                                        3 years

(2) Builders Lighting and Hardware, Inc.     1,000,000 shares of the Company's
                                                       common stock.

(3) BuilderSource, Inc.                        200,000 shares of the Company's
                                                        common stock

This transaction was recorded as a "reverse merger" in which the carrying values
of the acquired companies carried over as the basis for the investment.

For comparative purposes, the unaudited statements of operations reflect
combined activity for these companies as if the acquisitions were effected at
the beginning of 1999. Consolidated operations from date of acquisition are as
follows:

     Revenues                                   $ 2,301,400
     Costs of Goods Sold                        $ 1,368,600
     Operating expenses                         $   660,000
     Interest expense                           $    39,800

All revenues were derived from subsidiaries sales, as the parent company had no
revenue.



NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
Following is a summary of the Company's significant accounting policies:

      BASIS OF PRESENTATION - The accounting and reporting policies of the
      Company conform to generally accepted accounting principles, and,
      effective March 1, 1995, the accounting and reporting policies conform to
      generally accepted accounting principles of development stage enterprises.

      PRINCIPLES OF CONSOLIDATION - The accompanying financial statements
      include the accounts of its wholly owned subsidiary, LaserCare, Inc., also
      a development stage enterprise. All significant intercompany transactions
      have been eliminated.

      USES OF ESTIMATES - The preparation of financial statements in conformity
      with generally accepted accounting principles requires management to make
      estimates and assumptions that affect the reported amounts of assets and
      liabilities and disclosure of contingent assets and liabilities at the
      date of the financial statements and the reported amount of revenues and
      expenses during the reporting period. Actual results could differ from
      those estimates. The Company's periodic filings with the Securities and
      Exchange Commission include, where applicable, disclosures of estimates,
      assumptions, uncertainties and concentrations in products and markets
      which could affect the financial statements and future operations of the
      Company.

<PAGE>
      CASH AND CASH EQUIVALENTS - For purposes of the statement of cash flows,
      the Company considers all cash in banks, money market funds, and
      certificates of deposit with a maturity of less than one year to be cash
      equivalents.

      FAIR VALUE OF FINANCIAL INSTRUMENTS AND DERIVATIVE FINANCIAL INSTRUMENTS -
      The carrying amounts of cash, accounts receivable, accounts payable, notes
      payable, and accrued expenses approximate fair value because of the short
      maturity of these items. These fair value estimates are subjective in
      nature and involve uncertainties and matters of significant judgment, and,
      therefore, cannot be determined with precision. Changes in assumptions
      could significantly affect these estimates. At November 30, 1999, the
      Company had no derivative financial instruments.

      EQUIPMENT AND FURNISHINGS - Equipment and furnishings is stated at cost
      less accumulated depreciation, computed principally on the straight-line
      method over the estimated useful lives of the assets. Estimated useful
      lives approximate five years. Depreciation is taken on the straight-line
      method for tax purposes also, using lives prescribed by the Internal
      Revenue Code, which are similar to book basis lives.

      Maintenance and repairs of equipment and furnishings are charged to
      development stage expenses and new purchases and major improvements are
      capitalized. Upon retirement, sale or other disposition, the cost and
      accumulated depreciation are eliminated from the accounts, and any gain or
      loss is included in operating income.

      FEDERAL INCOME TAXES - Deferred income taxes are reported for timing
      differences between items of income or expense reported in the financial
      statements and those reported for income tax purposes in accordance with
      Statement of Financial Accounting Standards number 109 ACCOUNTING FOR
      INCOME TAXES, which requires the use of the asset/liability method of
      accounting for income taxes. Deferred income taxes and tax benefits are
      recognized for the future tax consequences attributable to differences
      between the financial statement carrying amounts of existing assets and
      liabilities and their respective tax bases, and for tax loss and credit
      carryforwards. Deferred tax assets and liabilities are measured using
      enacted tax rates expected to apply to taxable income in the years in
      which those temporary differences are expected to be recovered or settled.
      The Company provides deferred taxes for the estimated future tax effects
      attributable to temporary differences and carryforwards when realization
      is more likely than not.

      Differences between book and tax income arise primarily from the valuation
      of stock issued for services.

      NET INCOME PER SHARE OF COMMON STOCK - Net income per share of common
      stock is computed by dividing net income by the weighed average number of
      shares of common stock outstanding during the period, after giving
      retroactive effect to stock splits, if any.

NOTE 4 - COMPREHENSIVE INCOME:
FASB Statement Number 130, REPORTING COMPREHENSIVE INCOME, became effective for
fiscal years beginning after December 15, 1997, and establishes standards for
reporting and display of comprehensive income

<PAGE>
and its components (revenues, expenses, gains, and losses) in a full set of
general-purpose financial statements. This Statement requires that all items
that are required to be recognized under accounting standards as components of
comprehensive income be reported in a financial statement that is displayed with
the same prominence as other financial statements. The Company had no
comprehensive income other than net income during the periods included in the
accompanying financial statements.


NOTE 5 - SUBSEQUENT EVENT
On July 31, 2000, the Board of Directors unanimously approved a resolution to
change the name of the Company to SpectraSource Corporation.

<PAGE>
                              THERAPY LASERS, INC.

                 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITON AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS
As explained in note 2 of the financial statements, the Company had sales for
the second quarter subsequent to the acquisitions. Prior to the acquisitions,
the Company was essentially dormant. Subsequent to the acquisitions, the Company
experienced net earnings of approximately $233,000.

LIQUIDITY AND CAPITAL RESOURCES
The Company had total liabilities approximating $2,900,000 at June 30, 2000.
This is primarily attributable to the issuance of notes payable for the
acquisition of the subsidiaries. The increase in equity from $(27,652) to
$727,325 is also attributable to the acquisitions. The Company expects that cash
requirements for development stage operations for the next fiscal year will be
provided from the three new subsidiaries. However, there can be no assurance
that these activities will, in fact, provide the necessary working capital for
operations.



This Form 10-QSB includes or may include certain forward-looking statements that
involve risks and uncertainties. This Form 10-QSB contains certain
forward-looking statements concerning the Company's financial position, business
strategy, budgets, projected costs and plans and objectives of management for
future operations as well as other statements including words such as
"anticipate," "believe," "plan," "estimate," "expect," "intend," and other
similar expressions. Although the Company believes its expectations reflected in
such forward-looking statements are based on reasonable assumptions, readers are
cautioned that no assurance can be given that such expectations will prove
correct and that actual results and developments may differ materially from
those conveyed in such forward-looking statements. Important factors that could
cause actual results to differ materially from the expectations reflected in the
forward-looking statements in this Form 10-QSB include, among others, the pace
of technological change, the Company's ability to manage growth and attract and
retain employees, general business and economic conditions in the Company's
operating regions, and competitive and other factors, all as more fully
described in the Company's Report on Form 10-K for the period ended February 28,
2000 under Management's Discussion and Analysis of Financial Condition and
Results of Operations "Assumptions Underlying Certain Forward-Looking Statements
and Factors that May Affect Future Results" and elsewhere from time to time in
the Company's other SEC reports. Such forward-looking statements speak only as
of the date on which they are made and the Company does not undertake any
obligation to update any forward-looking statement to reflect events or
circumstances after the date of this Form 10-QSB. If the Company does update or
correct one or more forward-looking statements, investors and others should not
conclude that the Company will make additional updates or corrections with
respect thereto or with respect to other forward-looking statements. Actual
results may vary materially.

ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K None.

      All other items in Part II are either not applicable to the

<PAGE>
      Company during the current quarter, the answer is negative, or a response
      has been previously reported and an additional report of the information
      is not required, pursuant to the instructions to Part II.


                                   SIGNATURES


Pursuant to the requirements of Section 13 or 15(d) 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 on the 19th day of
September, 2000.

                                    Therapy Lasers, Inc.




By: /s/ CHARLES SHEFFIELD           Date: September 20, 2000
    ---------------------
        Charles Sheffield,
        Chairman of the Board,
        President, Chief
        Executive Officer