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

                                   FORM 10-QSB

(Mark One)

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

For the quarterly period ended September 30, 2002

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

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

                         Commission file number: 0-31641

                        SUPERCONDUCTIVE COMPONENTS, INC.
             (Exact name of registrant as specified in its charter)

              OHIO                                             31-0121318
(State or other jurisdiction of                             (I.R.S. Employer
 incorporation or organization)                            Identification No.)

                  1145 CHESAPEAKE AVENUE, COLUMBUS, OHIO 43212
          (Address of principal executive offices, including zip code)

                                 (614) 486-0261
              (Registrant's telephone number, including area code)

                                 NOT APPLICABLE
              (Former name, former address and former fiscal year,
                          if changed since last report)

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

         State the number of shares outstanding of each of the registrant's
classes of common equity, as of the latest practicable date: 1,823,256 shares of
Common Stock, without par value, were outstanding at October 31, 2002.


<PAGE>

                                   FORM 10-QSB

                        SUPERCONDUCTIVE COMPONENTS, INC.

                                TABLE OF CONTENTS
                                -----------------
<TABLE>
<CAPTION>
                                                                                          PAGE NO.
                                                                                          --------

PART I.  FINANCIAL INFORMATION

         Item 1.  Financial Statements.

<S>                   <C>                                                                   <C>
                      Balance Sheets as of September 30, 2002 (unaudited)
                           and December 31, 2001                                            3 - 4

                      Statements of Operations For the Three Months and Nine Months
                           Ended September 30, 2002 and 2001 (unaudited)                      5

                      Statements of Cash Flows For the Nine Months
                           Ended September 30, 2002 and 2001(unaudited)                     6 - 7

                      Notes to Financial Statements (unaudited)                            8 - 10


         Item 2.  Management's Discussion and Analysis of Financial
                      Condition and Results of Operations.                                  11-15

         Item 3.  Controls and Procedures                                                    15

PART II. OTHER INFORMATION

         Item 1.  Legal Proceedings.                                                         N/A

         Item 2.  Changes in Securities and Use of Proceeds.                                 N/A

         Item 3.  Defaults Upon Senior Securities.                                           N/A

         Item 4.  Submission of Matters to a Vote of Security Holders.                       N/A

         Item 5.  Other Information.                                                         N/A

         Item 6.  Exhibits and Reports on Form 8-K.                                          16

         Signatures.                                                                         16

         Certifications of CEO and CFO.                                                     17-18

</TABLE>



                                        2

<PAGE>

                          PART I. FINANCIAL INFORMATION

                        SUPERCONDUCTIVE COMPONENTS, INC.

                                 BALANCE SHEETS

                                     ASSETS
                                     ------

<TABLE>
<CAPTION>
                                                          SEPTEMBER 30,      DECEMBER 31,
                                                               2002              2001
                                                          -------------      ------------
                                                          (UNAUDITED)
<S>                                                        <C>                 <C>
CURRENT ASSETS
  Cash                                                       $    43,654    $   118,083
  Accounts and notes receivable
    Trade, less allowance for doubtful accounts of $17,000
         and $13,000, respectively                               401,043        365,141
    Contracts Receivable                                          59,976             --
    Related party receivables                                     11,257          4,616
    Employees                                                     12,876         15,625
    Other                                                            891         20,814
 Inventories                                                     845,142        857,992
 Prepaid expenses                                                 49,542         12,851
                                                             -----------    -----------
       Total current assets                                    1,424,381      1,395,122
                                                             -----------    -----------
PROPERTY AND EQUIPMENT,
 AT COST
  Machinery and equipment                                      2,360,660      2,306,128
  Furniture and fixtures                                          22,124         20,424
  Leasehold improvements                                         346,823        346,823
                                                             -----------    -----------
                                                               2,729,607      2,673,375
  Less accumulated depreciation                               (2,093,523)    (1,919,358)
                                                             -----------    -----------
                                                                 636,084        754,017
                                                             -----------    -----------
OTHER ASSETS
  Intangibles                                                     43,990         43,992
                                                             -----------    -----------
TOTAL ASSETS                                                 $ 2,104,455    $ 2,193,131
                                                             ===========    ===========
</TABLE>

   The accompanying notes are an integral part of these financial statements.


                                        3
<PAGE>

                         SUPERCONDUCTIVE COMPONENTS, INC.

                                   BALANCE SHEETS

                       LIABILITIES AND SHAREHOLDERS' EQUITY
                       ------------------------------------

<TABLE>
<CAPTION>
                                                          SEPTEMBER 30,    DECEMBER 31,
                                                              2002            2001
                                                          -------------    ------------
                                                           (UNAUDITED)
<S>                                                         <C>          <C>

CURRENT LIABILITIES
  Capital lease obligation, current portion                $    42,366    $    41,596
  Capital lease obligation, shareholder, current portion        42,289         25,161
  Note payable shareholders, current portion                    70,000         34,000
  Accounts payable                                             422,246        318,954
  Accounts payable, shareholders                                24,116          7,426
  Accrued contract expenses                                     18,548        179,748
  Accrued personal property taxes                               40,501         54,384
  Accrued expenses                                              75,184         42,450
                                                           -----------    -----------
        Total current liabilities                              735,250        703,719
                                                           -----------    -----------
CAPITAL LEASE OBLIGATION, NET OF
 CURRENT PORTION                                                72,249        103,865
                                                           -----------    -----------
CAPITAL LEASE OBLIGATION, SHAREHOLDER, NET OF
 CURRENT PORTION                                                26,139         43,267
                                                           -----------    -----------
NOTE PAYABLE SHAREHOLDERS, NET OF CURRENT
 PORTION                                                        98,270         84,270
                                                           -----------    -----------
REDEEMABLE CONVERTIBLE PREFERRED
STOCK (Series A)
 10% cumulative, nonvoting, no par value,
 $1,000 stated value, liquidation and
 mandatory redemption at stated value
 per share plus unpaid and accumulated
 dividends of $230.00 and $188.33 per
 share respectively                                            121,770        111,176
                                                           -----------    -----------
COMMITMENTS AND CONTINGENCIES                                       --             --
                                                           -----------    -----------
SHAREHOLDERS' EQUITY
  Convertible preferred stock, Series B, 10%
   cumulative, nonvoting, no par
   value, $10 stated value, optional
   redemption at 103%                                          353,792        333,136
 Common stock, no par value, authorized 15,000,000
   shares; 1,823,256 shares issued and outstanding           6,378,216      6,366,966
 Additional paid-in capital                                     15,877         47,127
 Accumulated deficit                                        (5,697,108)    (5,600,395)
                                                           -----------    -----------
                                                             1,050,777      1,146,834
                                                           -----------    -----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                 $ 2,104,455    $ 2,193,131
                                                           ===========    ===========

</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                         4

<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                            STATEMENTS OF OPERATIONS

               THREE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001 AND
                  NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
                  ---------------------------------------------
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                               THREE MONTHS ENDED             NINE MONTHS ENDED
                                                   SEPTEMBER 30,                SEPTEMBER 30,
                                            --------------------------   ---------------------------
                                                2002            2001         2002               2001
                                                ----            ----         ----               ----
<S>                                             <C>        <C>            <C>         <C>
SALES REVENUE                                   794,803    $   820,044    $ 2,151,396    $ 2,511,154
CONTRACT RESEARCH REVENUE                        68,376         71,769        211,909        345,910
                                            -----------    -----------    -----------    -----------
                                                863,179        891,813      2,363,305      2,857,064
                                            -----------    -----------    -----------    -----------
COST OF SALES REVENUE                           518,479        513,250      1,470,482      1,585,659
COST OF CONTRACT RESEARCH                        71,544         42,369        210,005        266,055
                                            -----------    -----------    -----------    -----------
                                                590,023        555,619      1,680,487      1,851,714
                                            -----------    -----------    -----------    -----------
GROSS MARGIN                                    273,156        336,194        682,818      1,005,350

GENERAL AND ADMINISTRATIVE EXPENSES             200,983        244,708        644,065        652,320

SALES AND PROMOTIONAL EXPENSES                   63,088         52,249        157,576        178,344
                                            -----------    -----------    -----------    -----------
INCOME (LOSS) FROM OPERATIONS                     9,085         39,237       (118,823)       174,686
                                            -----------    -----------    -----------    -----------
OTHER INCOME (EXPENSE)
  Interest, net                                  (6,679)        (3,291)       (15,689)       (13,571)
  Insurance proceeds                                 --             --         39,083             --
  Miscellaneous, net                               (428)          (298)        (1,284)          (249)
                                            -----------    -----------    -----------    -----------
                                                 (7,107)        (3,589)        22,110        (13,820)
                                            -----------    -----------    -----------    -----------
INCOME (LOSS) BEFORE INCOME TAX                   1,978         35,648        (96,713)       160,866

INCOME TAX EXPENSE                                   --             --             --             --
                                            -----------    -----------    -----------    -----------
NET INCOME (LOSS)                                 1,978         35,648        (96,713)       160,866

DIVIDENDS ON PREFERRED STOCK                     (6,061)        (9,360)       (24,781)       (28,081)

ACCRETION OF REDEEMABLE CONVERTIBLE
 PREFERRED (SERIES A)                                --         (3,881)        (6,469)        (9,737)
                                            -----------    -----------    -----------    -----------
INCOME (LOSS) APPLICABLE TO COMMON
 SHARES                                     $    (4,083)   $    22,407    $  (127,963)   $   123,048
                                            ===========    ===========    ===========    ===========
EARNINGS PER SHARE - BASIC AND DILUTIVE
 (Note 2)

NET INCOME (LOSS) PER COMMON SHARE
  Basic                                     $     (0.00)   $      0.01    $     (0.07)   $      0.07
                                            ===========    ===========    ===========    ===========
  Dilutive                                  $     (0.00)   $      0.01    $     (0.07)   $      0.07
                                            ===========    ===========    ===========    ===========
WEIGHTED AVERAGE SHARES OUTSTANDING
  Basic                                       1,823,256      1,821,926      1,823,256      1,820,618
                                            ===========    ===========    ===========    ===========
  Dilutive                                    1,823,256      1,821,926      1,823,256      1,820,618
                                            ===========    ===========    ===========    ===========

</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                     5


<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                            STATEMENTS OF CASH FLOWS

                  NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
                  ---------------------------------------------
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                2002        2001
                                                                                ----        ----
<S>                                                                         <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income (loss)                                                         $  (96,713)   $ 160,866
                                                                            ----------    ---------

  Adjustments to reconcile net income (loss)
   to net cash used in operating activities:
    Depreciation                                                               174,165      156,171
    Amortization                                                                 2,228        1,838
    Inventory reserve                                                               --      (20,059)
    Provision for doubtful accounts                                              4,000       (9,000)
    Changes in operating assets and liabilities:
      (Increase) decrease in assets:
        Accounts receivable                                                    (72,596)     (41,052)
        Inventories                                                             12,850     (243,637)
        Prepaid expenses                                                       (36,691)      28,617
        Other assets                                                            (2,227)      (4,550)
      Increase (decrease) in liabilities:
        Accounts payable                                                       119,982      124,932
        Accrued expenses                                                      (142,349)     123,966
                                                                            ----------    ---------
          Total adjustments                                                     59,362      117,226
                                                                            ----------    ---------
            Net cash provided by (used in) operating activities                (37,351)     278,092
                                                                            ----------    ---------

CASH FLOWS FROM INVESTING ACTIVITIES
  Purchases of property and equipment                                          (56,232)    (151,732)
                                                                            ----------    ---------
            Net cash used in investing activities                              (56,232)    (151,732)
                                                                            ----------    ---------

CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds (payments) on note payable, shareholders                             50,000      (14,000)
  Principal payments on capital lease obligations                              (30,846)     (26,473)
  Proceeds from exercise of common stock options                                    --        4,125
                                                                            ----------    ---------
            Net cash provided by (used in) financing activities                 19,154      (36,348)
                                                                            ----------    ---------
</TABLE>

   The accompanying notes are an integral part of these financial statements.


                                        6
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                      STATEMENTS OF CASH FLOWS (CONTINUED)

                  NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
                  ---------------------------------------------
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                      2002           2001
                                                                      ----           ----
<S>                                                                  <C>             <C>
NET INCREASE (DECREASE) IN CASH                                      (74,429)        90,012

CASH - Beginning of period                                           118,083        202,406
                                                                    --------       --------
CASH - End of period                                                $ 43,654       $292,418
                                                                    ========       ========
SUPPLEMENTAL DISCLOSURES OF CASH
 FLOW INFORMATION
  Cash paid during the years for:
  Interest                                                          $  8,699       $ 14,135
  Income taxes                                                      $     --       $     --

SUPPLEMENTAL DISCLOSURES OF NONCASH
 INVESTING AND FINANCING ACTIVITIES

  Common stock was issued as partial payment for accounts payable   $     --       $ 19,000

  Property and equipment was purchased by capital lease             $     --       $ 97,911

</TABLE>


    The accompanying notes are an integral part of these financial statements


                                       7

<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                          NOTES TO FINANCIAL STATEMENTS

NOTE 1.           BUSINESS ORGANIZATION AND PURPOSE

                  Superconductive Components, Inc. (the "Company") is an Ohio
                  corporation that was incorporated in May 1987. The Company was
                  formed to develop, manufacture and sell materials using
                  superconductive principles. Operations have since been
                  expanded to include the manufacture and sale of
                  non-superconductive materials. The Company's domestic and
                  international customer base is primarily in the thin film
                  battery, high temperature superconductor, lens and optical
                  coatings, research, electronics and functional coatings
                  industries.

NOTE 2.           SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

                  The accompanying unaudited financial statements have been
                  prepared in accordance with accounting principles generally
                  accepted in the United States of America for interim financial
                  information and with instructions to Form 10-QSB and Article
                  10 of Regulation S-X. Accordingly they do not include all of
                  the information and footnotes required by accounting
                  principles generally accepted in the United States of America
                  for complete financial statements. In the opinion of
                  management, all adjustments considered necessary for fair
                  presentation of the results of operations for the periods
                  presented have been included. The financial statements should
                  be read in conjunction with the audited financial statements
                  and the notes thereto for the fiscal year ended December 31,
                  2001. Interim results are not necessarily indicative of
                  results for the full year.

                  The preparation of financial statements in conformity with
                  accounting principles generally accepted in the United States
                  of America requires management to make estimates and
                  assumptions that affect the reported amounts of assets and
                  liabilities at the date of the financial statements and the
                  reported amounts of revenues and expenses during the reporting
                  period. Actual results could differ from those estimates.

NOTE 3.           INVENTORY

                  Inventory is comprised of the following:


                                                  SEPTEMBER 30,   DECEMBER 31,
                                                       2002          2001
                                                       ----          ----
                                                    (unaudited)

                  Raw materials                      $536,741      $562,327
                  Work-in-progress                    164,248       121,908
                  Finished goods                      181,942       211,546
                  Inventory reserve                   (37,789)      (37,789)
                                                     --------      --------
                                                     $845,142      $857,992
                                                     ========      ========


                                        8

<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                          NOTES TO FINANCIAL STATEMENTS


NOTE 4.           COMMON STOCK AND STOCK OPTIONS

                  The following options were granted under the 1995 Stock Option
                  Plan during the three months ended September 30, 2002:

                        GRANT DATE    # OPTIONS GRANTED     OPTION PRICE
                        ----------    -----------------     ------------

                      July 15, 2002          50,000            $1.55

NOTE 5.           EARNINGS PER SHARE

                  Basic income (loss) per share is calculated as income
                  available to common stockholders divided by the weighted
                  average of common shares outstanding. Diluted earnings per
                  share is calculated as diluted income (loss) available to
                  common stockholders divided by the diluted weighted average
                  number of common shares. Diluted weighted average number of
                  common shares has been calculated using the treasury stock
                  method for Common Stock equivalents, which includes Common
                  Stock issuable pursuant to stock options and Common Stock
                  warrants. The following is provided to reconcile the earnings
                  per share calculations:

                       Three months ended Sept. 30,  Nine months ended Sept. 30,
                           2002          2001            2002           2001
                           ----          ----            ----           ----
Income (loss) applicable
 to common shares        $  (4,083)    $   22,407      $ (127,963)    $  123,048
                         =========      =========       =========      =========
Weighted average
 common shares
 outstanding - basic     1,823,256      1,821,926       1,823,256      1,820,618

Effect of dilutions
 stock options                  --             --              --             --
                         ---------      ---------       ---------      ---------
Weighted average
 shares outstanding -
 diluted                 1,823,256      1,821,926       1,823,256      1,820,618
                         =========      =========       =========      =========


NOTE 6.           SEGMENT REPORTING

                  The Company has, in the past, reported financial results in
                  terms of Superconductive Components Inc. (SCI) and Target
                  Materials Inc. (TMI) segments. In the Company's Form 10-KSB
                  for the year ended December 31, 2001, the Company announced
                  that it would no longer operate the TMI and SCI divisions
                  separately, but rather, would combine the divisions into a
                  single operating unit, and therefore, would cease reporting
                  financial results separate for the two divisions beginning in
                  2002. Accordingly, this report does not report financial
                  results separate for the two divisions. It was management's
                  opinion that a single streamlined company will benefit in the
                  following areas: manufacturing efficiencies and manufacturing
                  cost containment; improved sales


                                        9
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                          NOTES TO FINANCIAL STATEMENTS

                  through the merging of the strengths of the two material
                  businesses; and improvements in quality through increased
                  availability of analytical equipment and personnel.

                  The Company publicly announced its new corporate structure on
                  July 1, 2002 and stated that SCI Engineered Materials would
                  become the trade name of the Company.

NOTE 7.           RELATED PARTY TRANSACTIONS

                  The Company retained a related party to provide management
                  assistance for a fee of $14,550 per month beginning January
                  15, 2002. This agreement was terminated after three (3) months
                  and all fees have been paid.

NOTE 8.           REDEEMABLE CONVERTIBLE PREFERRED STOCK (SERIES A)

                  Effective May 31, 2002, the 99 shares of Series A redeemable
                  convertible preferred stock ($99,000) and accrued dividends
                  ($22,770) became fully redeemable by the Company.

                  The Chairman of the Board owns these shares. At September 30,
                  2002, the Company still owes the total outstanding balance of
                  $121,770.


                                       10

<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

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

                  The following discussion should be read in conjunction with
                  the Financial Statements and Notes contained herein.

                  The following section contains forward-looking statements
                  within the meaning of the Private Securities Litigation Reform
                  Act of 1995. Any statements that express, or involve
                  discussions as to expectations, beliefs, plans, objectives,
                  assumptions or future events or performance (often, but not
                  always, through the use of words or phrases such as will
                  likely result, are expected to, will continue, is anticipated,
                  estimated, projection, outlook) are not statements of
                  historical fact and may be forward looking. Forward-looking
                  statements involve estimates, assumptions and uncertainties
                  that could cause actual results to differ materially from
                  those expressed in the forward-looking statements. These
                  forward-looking statements are based largely on the Company's
                  expectations and are subject to a number of risks and
                  uncertainties, including but not limited to economic,
                  competitive, regulatory, growth strategies, available
                  financing and other factors discussed elsewhere in this report
                  and in other documents filed by the Company with the
                  Securities and Exchange Commission. Many of these factors are
                  beyond the Company's control. Actual results could differ
                  materially from the forward-looking statements made. In light
                  of these risks and uncertainties, there can be no assurance
                  that the results anticipated in the forward-looking
                  information contained in this report will, in fact, occur.

                  Any forward-looking statement speaks only as of the date on
                  which such statement is made, and the Company undertakes no
                  obligation to update any forward-looking statement or
                  statements to reflect events or circumstances after the date
                  on which such statements are made or reflect the occurrence of
                  unanticipated events, unless necessary to prevent such
                  statements from becoming misleading. New factors emerge from
                  time to time and it is not possible for management to predict
                  all factors, nor can it assess the impact of each such factor
                  on the business or the extent to which any factor, or
                  combination of factors, may cause actual results to differ
                  materially from those contained in any forward-looking
                  statements.

                  RESULTS OF OPERATIONS

                  CRITICAL ACCOUNTING POLICIES

                  The preparation of financial statements and related
                  disclosures in conformity with accounting principles generally
                  accepted in the United States of America requires management
                  to make judgments, assumptions and estimates that affect the
                  amounts reported in the Financial Statements and accompanying
                  notes. Note 2 to the Financial Statements in the Annual Report
                  on Form 10-KSB for the year ended December 31, 2001 describes
                  the significant accounting policies and methods used in the
                  preparation of the Financial Statements. Estimates are used
                  for, but not limited to, accounting for doubtful accounts,
                  inventory allowances, property and equipment depreciable
                  lives, patents and licenses useful lives and assessing changes
                  in which impairment of certain long-lived assets may occur.
                  Actual results could differ from these estimates. The
                  following critical accounting policies are impacted
                  significantly by judgments, assumptions and estimates used in
                  the preparation of the Financial Statements. The allowance for
                  doubtful accounts is based on our assessment of the
                  collectibility of specific customer accounts and the aging of
                  the accounts receivable.


                                       11
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

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

                  If there is a deterioration of a major customer's credit
                  worthiness or actual defaults are higher than our historical
                  experience, our estimates of the recoverability of amounts due
                  us could be adversely affected. Inventory purchases and
                  commitments are based upon future demand forecasts. If there
                  is a sudden and significant decrease in demand for our
                  products or there is a higher risk of inventory obsolescence
                  because of rapidly changing technology and customer
                  requirements, we may be required to increase our inventory
                  allowances and our gross margin could be adversely affected.
                  Depreciable and useful lives estimated for property and
                  equipment, licenses and patents are based on initial
                  expectations of the period of time these assets and
                  intangibles will provide benefit to our Company. Changes in
                  circumstances related to a change in our business, change in
                  technology or other factors could result in these assets
                  becoming impaired, which could adversely affect the value of
                  these assets.

                  To date, the Company has received revenue predominantly from
                  commercial sales, government research contracts and
                  non-government research contracts. The Company has incurred
                  cumulative losses of $5,697,108 from inception to September
                  30, 2002.

                  NINE MONTHS ENDED SEPTEMBER 30, 2002 (UNAUDITED) COMPARED TO
                  NINE MONTHS ENDED SEPTEMBER 30, 2001 (UNAUDITED):

                  REVENUES

                  Revenues for the nine months ended September 30, 2002 were
                  $2,363,305 compared to $2,857,064, a decrease of $493,759 or
                  17.3% from the nine months ended September 30, 2001.

                  Product revenues decreased to $2,151,396 in 2002 from
                  $2,511,154 in 2001 or a decrease of 14.3%. The decline in
                  revenues for the first nine months is due to lower product
                  shipments as a result of the weak U.S. economy and lower sales
                  of tantalum and various scrap metals compared to the same
                  period last year.

                  Contract research revenues were $211,909 in 2002 as compared
                  to $345,910 in 2001. The decrease is due to a Phase I SBIR
                  grant from the National Science Foundation that expired in
                  2001. Revenues of $100,000 from this grant are included in
                  2001 revenues. In addition, 2001 included revenues from a
                  Phase II SBIR grant from the National Aeronautics and Space
                  Administration. This grant ended March 31, 2001 and $70,454 of
                  revenue was recognized in 2001.

                  The Company was awarded a $300,000 extension to a Phase II
                  SBIR grant from the National Science Foundation in the third
                  quarter of 2001 and $184,616 of revenue was recognized in the
                  first nine months of 2002.

                  The Company was awarded a $100,000 Phase I SBIR from the
                  Department of Energy in May 2002. This grant began in August
                  2002 and $22,222 of revenue was recognized in the third
                  quarter of 2002.

                  The Company became a member of a team led by Oxford
                  Instruments Superconducting Technology, that was awarded a
                  grant from the Department of Energy Superconductivity
                  Partnership Initiative Program. This program will begin in the
                  fourth quarter of 2002.


                                       12
<PAGE>


                        SUPERCONDUCTIVE COMPONENTS, INC.

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

                  GROSS MARGIN

                  Total gross margin in 2002 was $682,818 or 28.9% of total
                  revenue compared to $1,005,350 or 35.2% in 2001. Gross margin
                  on product revenue was 31.6% in 2002 versus 36.9% in 2001. The
                  decrease was due to sales of scrap metal in 2001. Gross margin
                  on contract research revenue was 0.9% for 2002 compared to
                  23.1% in 2001. The decrease in gross margin on contract
                  research revenue was due to the expiration of a Phase I SBIR
                  grant from the National Science Foundation, which began in
                  January 2001, and lower sub-contractor costs in 2001.

                  SELLING EXPENSE

                  Selling expense in 2002 decreased to $157,576 from $178,344 in
                  2001, a decrease of 11.6%. The decrease was due to a reduced
                  staff and lower commission expense compared to 2001.

                  GENERAL AND ADMINISTRATIVE EXPENSE

                  General and administrative expense in 2002 decreased to
                  $644,065 from $652,320 or 1.3%. The decrease in these costs
                  was due primarily to a reduction in administrative staff and a
                  reduction in legal and accounting fees. Some of these savings
                  are offset by consulting services for management assistance
                  and for the use of production utilization consultants and
                  implementation of their suggestions for lean manufacturing.
                  These projects represented $54,821 for the first nine
                  months of 2002.

                  RESEARCH AND DEVELOPMENT EXPENSE

                  Internal research and development costs are expensed as
                  incurred. Research and development costs, including testing,
                  for 2002 were $133,915 compared to $125,070 in 2001, an
                  increase of 7.1%. Internal research and development costs
                  increased due to an increase in research staff.

                  INTEREST EXPENSE

                  Interest expense was $19,509 for the nine months ended
                  September 30, 2002 compared to $16,767 for the nine months
                  ended September 30, 2001. Interest expense to related parties
                  was $10,810 and $2,632 for the nine months ended September 30,
                  2002, and September 30, 2001, respectively.

                  INCOME (LOSS) APPLICABLE TO COMMON SHARES

                  BASIC

                  Net income (loss) per common share based on the income (loss)
                  applicable to common shares for the nine months ended
                  September 30, 2002 and 2001 was $(0.07) and $0.07,
                  respectively. The income (loss) applicable to common shares
                  includes the net income (loss) from operations, Series A and B
                  preferred stock dividends and the accretion of Series A
                  preferred stock. The net income (loss) per common share from
                  operations was $(0.05) and $0.09, respectively. The difference
                  between the net loss from operations and


                                       13
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

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

                  the loss applicable to common shares of $(0.02) and $(0.02),
                  respectively, is a result of the preferred position that the
                  preferred shareholders have in comparison to the common
                  shareholders.

                  Dividends on the Series A and B preferred stock accrue at 10%
                  annually on the outstanding shares. Dividends on the Series A
                  preferred stock totaled $4,125 for the nine months ended
                  September 30, 2002 and $7,425 for the nine months ended
                  September 30, 2001. Dividends on the Series B preferred stock
                  totaled $20,656 for each period. The accretion of Series A
                  preferred stock represents issue costs of $70,277 that were
                  netted against the proceeds of Series A preferred stock. The
                  issue costs are being amortized over the payout period of
                  seven years of income (loss) applicable to common shares and
                  additional paid-in capital. The accretion totaled $6,469 for
                  the first nine months of 2002 and $9,737 for the first nine
                  months of 2001.

                  Basic earnings per common share for the nine months ended
                  September 30, 2002, were $(0.07) per share with 1,823,256
                  average common shares outstanding as compared to $0.07 per
                  share and 1,820,618 weighted average common shares outstanding
                  for the nine months ended September 30, 2001.

                  DILUTED

                  Diluted earnings per common share for the nine months ended
                  September 30, 2002 were $(0.07) per share with 1,823,256
                  average common shares outstanding as compared to $0.07 per
                  share and 1,820,618 weighted average common shares outstanding
                  for the nine months ended September 30, 2001. For the nine
                  months ended September 30, 2002, all outstanding common stock
                  equivalents are anti-dilutive due to the net loss.

                  LIQUIDITY AND WORKING CAPITAL

                  At September 30, 2002, working capital was $691,465 compared
                  to $874,224 at September 30, 2001. The Company utilized cash
                  from operations for the nine months ended September 30, 2002,
                  of approximately $37,000. The Company provided cash from
                  operations for the nine months ended September 30, 2001, of
                  approximately $278,000. Significant non-cash items including
                  depreciation and inventory reserve on excess and obsolete
                  inventory were approximately $176,000 and $138,000,
                  respectively, for the nine months ended September 30, 2002 and
                  2001. Overall, accounts receivable, inventory, and prepaids
                  increased in excess of accounts payable and accrued expenses
                  by approximately $123,000 and $12,000, respectively, as a
                  result of timing of receipt of inventory versus required
                  scheduled payments on this inventory and increased prepaid
                  expenses.

                  For investing activities, the Company used cash of
                  approximately $56,000 and $152,000, for the nine months ended
                  September 30, 2002 and September 30, 2001, respectively. The
                  amounts invested were used to purchase machinery and equipment
                  for increased production capacity.

                  For financing activity for the nine months ended September 30,
                  2002, the Company provided cash of approximately $19,000. Cash
                  payments to third parties for capital lease obligations
                  approximated $31,000; proceeds from notes payable from
                  shareholders totaled $50,000.


                                       14
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

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

                  For financing activity for the nine months ended September 30,
                  2001, the Company utilized cash of approximately $36,000. Cash
                  payments to third parties for capital lease obligations
                  approximated $26,000; cash payments to shareholders totaled
                  $14,000; and cash proceeds for the exercise of stock options
                  totaled $4,125.

                  Series A redeemable convertible preferred stock and accrued
                  dividends in the amount of $121,770 is outstanding at
                  September 30, 2002 and was due May 31, 2002. Management is
                  working with the Chairman of the Board, who owns all of the
                  Series A redeemable convertible preferred stock, to negotiate
                  repayment terms. Management expects to have a resolution prior
                  to the end of the fourth quarter.

                  Officers of the Company have advanced funds in the form of
                  notes payable and accounts payable and guaranteeing bank debt
                  in the past. There is no commitment by these individuals to
                  continue funding the Company or guaranteeing bank debt in the
                  future. However, the Company believes that its current
                  operations and its pursuit of new financing arrangements will
                  allow management to continue to pursue its current plans.
                  However, the Company cannot be certain that it will be
                  successful in efforts to raise additional new funds.

                  INVESTORS ARE REFERRED TO AND SHOULD SPECIFICALLY CONSIDER THE
                  RISKS AND SPECULATIVE FACTORS INHERENT IN AND AFFECTING THE
                  BUSINESS OF THE COMPANY AND THE COMPANY'S COMMON STOCK AS SET
                  FORTH IN THE COMPANY'S 10-KSB FOR THE YEAR ENDED DECEMBER 31,
                  2001 AT PAGES 21-24.

ITEM 3.           CONTROLS AND PROCEDURES

                  (a) Within the 90 days prior to the date of this report, the
                  Company carried out an evaluation, under the supervision and
                  with the participation of the Company's management, including
                  the Chief Executive Officer along with the Chief Financial
                  Officer, of the effectiveness of the design and operation of
                  the disclosure controls and procedures pursuant to Exchange
                  Act Rule 13a-14. Based upon that evaluation, the Company's
                  Chief Executive Officer along with the Chief Financial Officer
                  concluded that the Company's disclosure controls and
                  procedures are effective in timely alerting them to material
                  information relating to the Company required to be included in
                  the Company's periodic SEC filings.

                  (b) There have been no significant changes in the Company's
                  internal controls or in other factors that could significantly
                  affect internal controls subsequent to the date the Chief
                  Executive Officer and the Chief Financial Officer carried out
                  this evaluation.


                                       15
<PAGE>

                           PART II. OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.

         (A)      EXHIBITS.

                  99(a)    Certification of CEO under Section 906 of
                           Sarbanes-Oxley Act of 2002.

                  99(b)    Certification of CFO under Section 906 of
                           Sarbanes-Oxley Act of 2002.

         (B)      REPORTS ON FORM 8-K.

                  None.


                                   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.

                                       SUPERCONDUCTIVE COMPONENTS, INC.


Date:  November 8, 2002                /s/ Daniel Rooney
                                       -----------------------------------------
                                           Daniel Rooney,
                                           President and Chief Executive Officer
                                            (Principal Executive Officer)


                                       /s/ Gerald S. Blaskie
                                       -----------------------------------------
                                           Gerald S. Blaskie,
                                           Chief Financial Officer
                                            (Principal Financial Officer)



                                       16

<PAGE>

                                  CERTIFICATION

I, Daniel Rooney, certify that:

         1.       I have reviewed this quarterly report on Form 10-QSB of
                  Superconductive Components, 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 we 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
                  function):

                  a)       all significant deficiencies in the design or
                           operation of internal controls which could adversely
                           affect the registrant's ability to record, process,
                           summarize and report financial data and have
                           identified for the registrant's auditors any material
                           weaknesses in internal controls; and

                  b)       any fraud, whether or not material, that involves
                           management or other employees who have a significant
                           role in the registrant's internal controls; and

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

Date: November 8, 2002

                                          /s/ Daniel Rooney
                                          -----------------------------------
                                          Daniel Rooney
                                          President and Chief Executive Officer


                                       17
<PAGE>

                                  CERTIFICATION

I, Gerald S. Blaskie, certify that:

         1.       I have reviewed this quarterly report on Form 10-QSB of
                  Superconductive Components, 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 we 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
                  function):

                  a)       all significant deficiencies in the design or
                           operation of internal controls which could adversely
                           affect the registrant's ability to record, process,
                           summarize and report financial data and have
                           identified for the registrant's auditors any material
                           weaknesses in internal controls; and

                  b)       any fraud, whether or not material, that involves
                           management or other employees who have a significant
                           role in the registrant's internal controls; and

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

Date: November 8, 2002

                                                /s/ Gerald S. Blaskie
                                                --------------------------------
                                                Gerald S. Blaskie
                                                Chief Financial Officer


                                       18