U. S. Securities and Exchange Commission
                         Washington, D. C.  20549

                              FORM 10-QSB

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

     For the quarter ended March 31, 2004
                           --------------

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

     For the transition period from               to
                                    -------------    -------------

                        Commission File No. 000-50032
                                            ---------

                          OAK RIDGE MICRO-ENERGY, INC.
                          ----------------------------
              (Name of Small Business Issuer in its Charter)

         COLORADO                                           94-3431032
         --------                                           ----------
(State or Other Jurisdiction of                     (I.R.S. Employer I.D. No.)
 incorporation or organization)

                              275 Midway Lane
                         Oak Ridge, Tennessee 37830
                         --------------------------
                 (Address of Principal Executive Offices)

                Issuer's Telephone Number:  (801) 556-9928

     Check whether the Issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the Issuer was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

     (1)   Yes  X     No            (2)   Yes X      No
               ---      ---                  ---      ---

                 (APPLICABLE ONLY TO CORPORATE ISSUERS)

          Indicate the number of shares outstanding of each of the Issuer's
classes of common stock, as of the latest practicable date:

       Class              Outstanding as of March 31, 2004
       -----              ------------------------------------

Common stock, $0.001                15,301,645

Transitional Small Business Disclosure Format (Check One):  Yes  X   No
                                                                ---   ---

<PAGE>

                  PART I - FINANCIAL INFORMATION

Item 1.   Financial Statements.

          The Financial Statements of the Company required to be filed with
this 10-QSB Quarterly Report were prepared by management, and commence on the
following page, together with Related Notes.  In the opinion of management,
the Financial Statements fairly present the financial condition of the
Company.
<PAGE>
<TABLE>
<CAPTION>
                    OAK RIDGE MICRO-ENERGY, INC.
                    (Development Stage Company)
                          Balance Sheet
                           (unaudited)
                                                              March 31, 2004
                                                            -----------------
Assets
<S>                                                         <C>
Current assets:
     Cash and cash equivalents                               $ 1,699,967
                                                             -----------
          Total current assets                                 1,699,967

Furniture, fixtures, and equipment, net                          389,610

Intangible assets, net                                            11,592

Other long-term assets                                             2,200
                                                             -----------
          Total assets                                       $ 2,103,369
                                                             ===========

Liabilities and stockholders' equity

Current liabilities:
     Accounts payable                                        $     2,542
     Accrued liabilities                                          10,000
                                                             -----------
          Total current liabilities                               12,542


Stockholders' equity:
  Common stock, 100,000,000 shares
  authorized, $0.001 par value,
  15,301,645 shares issued and
  outstanding at March 31, 2004                                   15,301
  Stock subscriptions received                                   994,938
  Additional paid in capital                                  11,680,430
  Accumulated deficit                                        (10,599,842)
                                                             -----------
          Total stockholders' equity                           2,090,827
                                                             -----------
          Total liabilities and
          stockholders' equity                               $ 2,103,369
                                                             ===========


</TABLE>
The accompanying notes are an integral part of the consolidated financial
statements.
                               F-1
<PAGE>
<TABLE>
<CAPTION>
                  OAK  RIDGE  MICRO-ENERGY, INC.
                   (Development Stage Company)
                       INCOME STATEMENT
                          (Unaudited)
                                    Three Months Ended       Period
                                          March 31,       January 1, 1996 to
                                      2004       2003       March 31, 2004
<S>                                 <C>         <C>        <C>
Revenues                               $     980  $  9,676    $ 117,186
                                       ---------  --------    ---------
Operating expenses:
     General and administrative        2,270,955   151,323    4,537,744
     Research and development             33,094    50,650      388,295
     Sales and marketing                  28,815         -       28,815
     Depreciation and amortization        19,211    22,777      121,124
                                       ---------  --------    ---------
  Total operating expenses             2,352,075   224,750    5,075,978
                                       ---------  --------    ---------
Operating income (loss)               (2,351,095) (215,074)  (4,958,792)

Other income/expenses:
     Interest and other income               826       797       12,390
     Interest expense                          -         -     (340,159)
     Loss of assets                            -         -   (4,608,767)
     Gain on settlement of debt                -         -    1,615,082
                                       ---------  --------   ----------
  Total other income/expense                 826       797   (3,321,454)
                                       ---------  --------   ----------
Net income (loss)                    $(2,350,269)$(214,277) $(8,280,246)
                                       =========  ========   ==========
Earnings (loss) per share:
  Basic                                $   (0.17)$   (0.02)
                                       ========= =========
Weighted average shares
outstanding:
  Basic                                13,682,645 8,664,437
                                       ========== =========
</TABLE>
The accompanying notes are an integral part of these financial statements.
                               F-2
<PAGE>
<TABLE>
<CAPTION>
                   OAK  RIDGE  MICRO-ENERGY, INC.
                    (Development Stage Company)
             Statement of Changes in Stockholders' Equity
                            (Unaudited)

                                      Three Months Ended March 31, 2004
______________________________________________________________________________
                                     Common   Stock   Additional   Accumulated
                                     Shares   Amount  Paid-in Capital Deficit
<S>                               <C>      <C>      <C>       <C>
Balance at December 31, 2003    12,062,602  $12,062 $  8,722,108 $(8,249,573)

Common stock issued for
services at $0.7365 per share    2,250,000    2,250    1,654,875           -

Common stock issued for
services at $1.20 per share        272,333      272      326,527           -

Common stock issued for
services at $1.90 per share         15,000       15       28,485           -

Common stock issued for
services at $2.45 per share         60,000       60      146,940           -

Sale of common stock at $1.25
per share                          641,710      642      801,495           -

Net loss                                 -        -            -  (2,350,269)
                               -----------  -------  ----------- ------------
Balance, end of period          15,301,645  $15,301  $11,680,430 $(10,599,842)
                               ===========  =======  =========== ============
</TABLE>
                               F-3
The accompanying notes are an integral part of the consolidated financial
statements.
<PAGE>
<TABLE>
<CAPTION>
                   OAK  RIDGE  MICRO-ENERGY, INC.
                    (Development Stage Company)
                      Statement of Cash Flows
                           (Unaudited)
                                    Three Months Ended       Period
                                          March 31,       January 1, 1996 to
                                      2004       2003       March 31, 2004
<S>                                 <C>         <C>        <C>
Operations
 Net income (loss)                   $(2,350,269) $(214,277)  $(8,280,246)
 Adjustments to reconcile net income
 (loss) to net cash provided by
 operations:
  Changes in accounts payable and
  accrued liabilities                     (6,775)    14,716       378,735
   Changes in deposits                         -          -        (2,200)
   Depreciation and amortization          19,211     22,777       121,124
   Issuance of common stock for
   expenses and contributed to
   capital for expenses                2,159,424     36,875     3,711,123
   Loss of assets                              -          -     4,608,767
   Gain on settlement of debt                  -          -    (1,615,082)
                                     -----------  ---------   -----------
   Net cash from operations             (178,409)  (139,909)   (1,077,779)
                                     -----------  ---------   -----------
Investing
 Additions to furniture, fixtures and
 equipment                               (18,571)   (34,369)     (505,963)
 Additions to intangible assets                -    (82,705)      (16,367)
                                     -----------  ---------   -----------
   Net cash used for investing           (18,571)  (117,074)     (522,330)
                                     -----------  ---------   -----------
Financing
 Stock subscriptions received            767,131          -       994,938
 Proceeds from stock issued              802,138     50,000     2,305,138
                                     -----------  ---------   -----------
   Net cash received for financing     1,569,269     50,000     3,300,076
                                     -----------  ---------   -----------
Net change in cash and equivalents     1,372,289   (206,983)    1,699,967

Cash and equivalents, beginning of
 period                                  327,678    415,361             -
                                     -----------  ---------   -----------
Cash and equivalents, end of period  $ 1,699,967  $ 208,378   $ 1,699,967
                                     ===========  =========   ===========
</TABLE>
The accompanying notes are an integral part of these financial statements.
                               F-4
<PAGE>
                 OAK RIDGE MICRO-ENERGY, INC.
                 (Development Stage Company)
                Notes to Financial Statements

Note 1   Description of Business and Liquidity

Oak Ridge Micro-Energy, Inc. (referred to hereafter as "the Company" or "Oak
Ridge") was incorporated on August 15, 1986 under the laws of the state of
Colorado, with the original name "Vates Corp.".  Since inception, the Company
has completed six name changes resulting in its present name.  The Company has
changed the par value of its stock and effected two stock splits (see note 4).
The accompanying consolidated financial statements have been prepared showing
the after spilt effect with a par value of $0.001 since inception.
The Company became inactive after 1995 and is considered to be in the
development stage after that date.  The Company's principal operation is the
further development and commercialization of the rechargeable thin-film
lithium battery.

The interim financial data are unaudited; however, in the opinion of the
management of the Company, the interim data includes all adjustments,
consisting only of normal recurring adjustments, necessary for a fair
presentation of (a) the results of operations for the three-month periods
ended March 31, 2004 and 2003, (b) the financial position at March 31, 2004
(c) cash flows for the three-month periods ended March 31, 2004 and 2003 and
(d) statement of stockholders' equity for the three-month period ended March
31, 2004.  The financial statements should be read in conjunction with the
Company's annual report on Form 10-K for the year ended December 31, 2003.

Note 2   Basic net loss per share

Basic net loss per share is computed based on the weighted average number of
common shares outstanding, after the stock splits.  Options, warrants,
convertible preferred stock, and convertible debt are included in the
calculation of diluted earnings per share, except where their effect would be
anti-dilutive.  The Company did not have any dilutive securities outstanding
at September 30, 2003.  As a result, basic and diluted net loss per share are
the same.

Note 3   Technology Licensing Agreement

As a result of the acquisition of Oak Ridge Nevada (see note 5), the Company
acquired the rights to a non-exclusive license from the Department of Energy
through their licensor, UT Battelle LLC.  The license pertains to rechargeable
thin-film lithium batteries.  The initial payment was made in 2002 for
$10,000.  A second payment of $10,000 was made in the first quarter of 2003.
Additional payments of $40,000 and $20,000 in common stock based upon market
value of the Company are due by June 30, 2004 and July 30, 2004, respectively.

An incremental royalty fee of five percent applies to all net sales of
products incorporating the licensed technology.

Note 4   Stockholders' Equity

The Company's only issued and authorized equity shares consist of common
stock, par value $0.001.  Effective January 6, 2003, the Company effected a
ten to one reverse split of its outstanding common stock, while retaining the
current par value of $0.001.  The accompanying consolidated financial
statements have been prepared retroactively showing the after spilt effect
with a par value of $0.001 since inception.

During 2001, the Company received stock subscriptions of $75,000 for the
purchase of 37,500 restricted shares of common stock under a private
placement.  As of March 30, 2004, 15,000 of the shares had yet to be issued.

During the first quarter of 2004, the Company issued a combined 2,597,333
shares of its common stock to various consultants, attorneys, and members of
management for general business services.  The services were recorded at their
estimated fair value of $2,159,424 and recognized as expense during the three-
month period ending March 31, 2004.
<PAGE>
                   OAK RIDGE MICRO-ENERGY, INC.
                   (Development Stage Company)
                  Notes to Financial Statements
Note 4   Stockholders' Equity -continued

The Company recently completed a private placement offering.  As of the date
of this report, the Company raised a total $3,215,250 for the sale of
2,572,200 units (consisting of one share of restricted stock and one
warrant to purchase an additional share within one year from April 15).  The
Company owes a total commission for the sale of these units of 438,830
restricted common shares of its stock and $266,200 cash, which became payable
during the second quarter of the current fiscal year.  Upon the completion of
the issuance of all shares of common stock, including commission, associated
with the offering, the Company will have a total of 17,670,965 shares
outstanding.

At the end of the first quarter and during the fourth quarter of the prior
year, the Company received a total of $2,159,424 from the above-mentioned
offering.  641,710 shares of its common stock have been issued and another
1,085,829 are yet to be issued in conjunction with money received during the
first and fourth quarters.

Note 5   Purchase of all shares of Oak Ridge Micro-Energy, Inc.

Effective January 15, 2002, the Company acquired all of the outstanding
securities of Oak Ridge Nevada, in a forward triangular merger between a newly
formed wholly-owned subsidiary and Oak Ridge Nevada.  All of the issued and
outstanding shares of common stock of Oak Ridge Nevada were converted into and
exchanged for 2,304,902 shares of the Company's common stock.  As part of the
agreement, Mark Meriwether, the President and CEO of the Company, agreed to
return and rescind 2,275,000 share of Common Stock.  The acquisition was
accounted for using the purchase method of accounting.  All significant inter-
company accounts and transactions have been eliminated in consolidation.

Note 6   Related Parties

Officers-directors (and their families) and their controlled entities have
acquired 72% of the outstanding common stock.

During the first quarter, members of the board of directors were issued a
combined 2,000,000 shares (these shares are part of the 2,597,333 discussed
under note 4) for general business services.  The services were recorded at
their estimated fair value of $1,473,000 and recognized as expense during the
three-month period ending March 31, 2004.

<PAGE>
Item 2.   Management's Discussion and Analysis of Financial Condition and
Results of Operations.
----------------------

Plan of Operation.
------------------

Oak Ridge Micro-Energy is developing a new, thin-film lithium battery
technology for commercial, consumer, industrial, security and military
use.  Our corporate objective is to capitalize on delivering solutions for the
world's micro-power needs.

The battery is lithium-based and is manufactured to be thinner than common
plastic wrap.  Like the larger, traditional lithium batteries that power
laptops and cell phones, this lithium battery is also rechargeable. Unlike
traditional lithium batteries, the thin-film battery is intended for small,
hi-tech, low power applications, some of which have not yet been developed or
brought to market.

Current anticipated uses include "smart" credit cards, security cards,
wireless sensors, radio frequency identification tags, chip memory backup and
advanced drug delivery devices.  Future applications will grow as the
availability of thin-film batteries increases.

The technology has evolved over the past decade at the Oak Ridge National
Laboratories ("ORNL"), a U. S. Government laboratory in Oak Ridge, Tennessee.
The U. S. Department of Energy has released the technology for
commercialization through their licensing agent, UT Battelle LLC.  We are one
of a number of non-exclusive licensees of this technology.  The primary
inventor of the technology for ORNL, Dr. John B. Bates, retired from ORNL who
is now our Chief Technology Officer and a member of our Board of Directors.

The batteries must be substantially manufactured in the United States, under
our licensing agreement (the "Licensing Agreement"), unless a waiver is
obtained.  There may be exportation limitations into certain countries; there
are no environmental compliance issues that we know of; and raw materials and
manufacturing equipment are readily available from several vendors in the
United States.

We are developing prototype batteries using our current laboratory-scale
hardware.  We recently raised additional capital to acquire equipment to
manufacture thin-film batteries for pilot production requirements.  Prototype
batteries will be delivered to a variety of potential clients who desire
samples to evaluate for integration into their products.  We will likely
develop a relationship with a third party manufacturing partner when
quantities dictate to preserve capital.  Batteries will be shipped directly to
our customers, without the need for a distributor, in the short term.

Until such time as our Company's prospective clients have evaluated
prototypes and made commitments for commercial quantities of our product, we
intend to apply for revenue from U. S. Government grants and research
contracts, like similar grants we have received from the Department of
Defense.  During fiscal 2004, we anticipate that we may have between one and
four clients, and would expect that number to grow in future years, as
applications and the availability of thin-film batteries increases.  Dr. Bates
and our staff will continue to advance thin-film technology, which will result
in the creation of an intellectual property portfolio for our Company and our
shareholders.  Currently, we have made patent applications for an improved
electrolyte; a new barrier coating to help the battery resist corrosion; to
improve the performance of the battery; and to better protect the battery from
natural elements.

We currently have three full-time employees and two part-time employees.

Results of Operations.
----------------------

Revenue

Revenue for the first quarter of the year 2004 was $980, a decrease of
89% over the first quarter of the year 2003.  The revenue decrease was due to
the completion of a SBIR grant during the previous fiscal year.  Up to date,
we have not received additional grants.  We currently  receiving all revenue
from the sale of the thin-film battery.

Operating Expenses

Research and development expenses in the first quarter of calendar 2004 were
$33,094, compared to $50,650 during the first quarter of 2003.  Research and
development expense consists mainly of salaries to a small technical staff
and materials used in the further development and prototyping of the
thin-film lithium battery.

Sales and marketing expenses were $28,815 in the first quarter of 2004.  Sales
and marketing costs consisted of press release fees and fees paid to a
marketing consultant.  During the prior quarters, sales and marketing expenses
have not been separately accounted for.

General and administrative costs were $2,270,955 in the quarter ended March
31, 2004, compared to $151,323 for the same quarter of 2003, with the latter
including sales and marketing expenses.  These charges consisted of rent,
utilities, travel expenses, legal and professional charges, and other
miscellaneous charges related to general business operations.  The majority
of general and administrative expenses of the quarter ended March 31, 2004,
were from the issuance of common stock to various consultants and members of
the board of directors, valued at $2,130,609.

Financial Condition

The interim financial data are unaudited; however, in the opinion of the
management of our Company, the interim data includes all adjustments,
consisting only of normal recurring adjustments, necessary for a fair
presentation of (a) the results of operations for the three-month period ended
March 31, 2004 and 2003, (b) the financial position at March 31, 2004, (c)
cash flows for the three-month period ended March 31, 2004 and 2003 and (d)
statement of stockholders' equity for the three-month period ended March 31,
2004, which have been prepared by our management in conformity with accounting
principles generally accepted in the United States of America .  The financial
statements should be read in conjunction with the Company's Annual Report on
Form 10-KSB for the year ended December 31, 2003.

The results of operations for the three-month period ended March 31, 2004, are
not necessarily indicative of those to be expected for the entire year.

Our Company incurred a net loss from continuing operations of $2,350,269 and
$214,277 for the three-month periods ended March 31, 2004 and 2003,
respectively.   The majority  of our loss for the quarter ended March 31,
2004, resulted from the issuance of common stock to various consultants and
members of the board of directors, valued at $2,130,609. As of March 31, 2004,
we had a shareholder's equity of $2,090,827 and working capital of $1,687,425.
Cash totaled $1,699,967 as of March 31, 2004, compared to $208,378 for March
31, 2003.  The primary difference is a result of the closing of recent U. S.
and foreign private placements of our securities in calendar 2004.

We believe cash on hand will be sufficient to finance current business
operations for at least the next twelve months.

Forward-Looking Statements.
---------------------------

Statements made in this Form 10-QSB Quarterly Report which are not purely
historical are forward-looking statements with respect to the goals, plan
objectives, intentions, expectations, financial condition, results of
operations, future performance and business of our Company, including, without
limitation, (i) our ability to gain a larger share of the thin film battery
industry, our ability to continue to develop products acceptable to the
industry, our ability to retain relationships with suppliers and distributors,
our ability to raise capital, and the growth of the thin film battery
industry, and (ii) statements preceded by, followed by or that include the
words "may", "would", "could", "should", "expects", "projects", "anticipates",
"believes", "estimates", "plans", "intends", "targets" or similar expressions.

Forward-looking statements involve inherent risks and uncertainties, and
important factors (many of which are beyond our control) that could cause
actual results to differ materially from those set forth in the forward-
looking statements, including the following, in addition to those contained in
our reports on file with the Securities and Exchange Commission; general
economic or industry conditions, nationally and/or in the communities in which
we conduct business, changes in the interest rate environment, legislation or
regulatory requirements, conditions of the securities markets, changes in the
thin film battery industry, the development of products and that may be
superior to the products and services offered by our Company, demand for thin
film batteries, competition, changes in the quality or composition of our
products and services, our ability to develop new products and services, our
ability to raise capital, changes in accounting principles, policies or
guidelines, financial or political instability, acts of war or terrorism,
other economic, competitive, governmental, regulatory and technical factors
affecting our operations, products, services and prices.

Accordingly, results actually achieved may differ materially from expected
results in these statements. Forward-looking statements speak only as of the
date they are made. We do not undertake, and specifically disclaim, any
obligation to update any forward-looking statements to reflect events or
circumstances occurring after the date of such statements.

Item 3. Controls and Procedures

(a) At the end of the 90-day period of this Quarterly Report, we carried out
an evaluation, under the supervision and with the participation of our
management, including our Chief Executive Officer/President/Treasurer, of the
effectiveness of the design and operation of our disclosure controls and
procedures pursuant to Rule 13a-14 of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"). Based upon that evaluation, the Chief Executive
Officer/President/Treasurer has concluded that our disclosure controls and
procedures are effective in timely alerting him to material information
relating to our Company (including our consolidated subsidiaries) required to
be included in our Exchange Act filings.

(b) There have been no significant changes in our internal controls or in
other factors that could significantly affect internal controls or in other
factors that could significantly affect internal controls subsequent to the
date that we carried out our evaluation.

                    Part II. Other Information

Item 1. Legal Proceedings

     None; not applicable.

Item 2. Changes in Securities and Small Business Issuer Purchases of Equity
Securities.

     Recent Sales of Unregistered Securities
     ---------------------------------------

Shares and Consideration*                             Number of Shares
-------------------------                            ----------------

Common stock issued for                                  2,250,000
services at $0.7365 per share
to members of management and
legal counsel

Common stock issued for                                    272,333
services at $1.20 per share
legal counsel and one consultant

Common stock issued for                                     15,000
services at $1.90 per share
one consultant

Common stock issued for                                     60,000
services at $2.45 per share
to one consultant

Sale of common stock at $1.25                              641,710
per share (units consisting of
one common share and one $1.25
warrant) to a small number of
foreign investors

     *  We issued these securities to persons who were either "accredited
     investors," or "sophisticated investors" who, by reason of education,
     business acumen, experience or other factors, were fully capable of
     evaluating the risks and merits of an investment in our Company; and
     each had prior access to all material information about us. We believe
     that the offer and sale of these securities was exempt from the
     registration requirements of the Securities Act, pursuant to Sections
     4(2) and 4(6) thereof, and Rule 506 of Regulation D of the Securities and
     Exchange Commission and from various similar state exemptions, and with
     respect to the foreign investors, pursuant to Regulation S of the
     Securities and Exchange Commission.

Item 3. Defaults Upon Senior Securities

     None; not applicable.

Item 4. Submission of Matters to a Vote of Security Holders

     None; not applicable.

Item 5. Other Information

     None; not applicable.

Item 6. Exhibits and Reports on Form 8-K

     (a)   Exhibits.

     31    302 Certification of Mark Meriwether

     32    906 Certification

     10-KSB Annual Report for the year ended December 31, 2003*

           * Incorporated by reference.

     (b)   Reports on Form 8-K.

           8-K Current Report, as amended, dated February 19, 2004, regarding
           our change in accountants

           8-K Current Report, as amended, dated May 7, 2004, regarding the
           Compromise and Settlement Agreement regarding our Regulation S
           Offering.
<PAGE>
                            SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Quarterly Report to be signed on its behalf by
the undersigned there unto duly authorized.

                                       OAK RIDGE MICRO-ENERGY, INC.



Date: 5/14/04                          By/s/Mark Meriwether
                                       --------------------------------------
                                       Mark Meriwether
                                       President, CEO, Secretary/Treasurer
<PAGE>