SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

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

                For the quarterly period ended September 30, 2003

                                       OR

(_)   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934

              For the transition period from _________ to _________

      Commission File Number: 0-21609
                              -------


                           CHASE PACKAGING CORPORATION
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


             Texas                                         93-1216127
-------------------------------             ------------------------------------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)


              c/o Ann W. Green, 636 River Road, Fairhaven, NJ 07704
              -----------------------------------------------------
               (Address of principal executive offices) (Zip Code)


                                 (732) 741-1500
                ------------------------------------------------
                (Issuer's telephone number, including area code)

Check  whether the Issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Securities  Exchange  Act of 1934  during the  preceding  12
months (or for such shorter period that the registrant was required to file such
reports),  and (2) has been subject to such filing  requirements for the past 90
days.

YES X NO |_|

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

                Class                         Outstanding at September 30, 2003
--------------------------------------        ---------------------------------
Common Stock, par value $.10 per share                8,627,275 shares


<PAGE>


                                    - INDEX -

<TABLE>
<CAPTION>
                                                                                             PAGE(S)
                                                                                             -------
<S>            <C>                                                                           <C>
PART I.        Financial Information:

ITEM 1.        Financial Statements

               Balance Sheets - September 30, 2003 (Unaudited) and December 31, 2002           2.

               Statements of Operations (Unaudited) - Cumulative Period During
                  the Development Stage (January 1, 1999 to September 30, 2003)
                  and the Three and Nine Months Ended September 30, 2003 and
                  2002                                                                         3.

               Statements of Cash Flows (Unaudited) - Cumulative Period During
                  the Development Stage (January 1, 1999 to September 30, 2003)
                  and the Nine Months Ended September 30, 2003 and 2002                        4.

               Notes to Interim Financial Statements (Unaudited)                               5.

ITEM 2.        Management's Discussion and Analysis or Plan of Operation                       6.

PART II.       Other Information                                                               7.

SIGNATURES                                                                                     8.
</TABLE>

                                                                         Page 2.

<PAGE>

PART I.  FINANCIAL INFORMATION:

ITEM I.  FINANCIAL STATEMENTS:

                           CHASE PACKAGING CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                                 BALANCE SHEETS

<TABLE>
<CAPTION>
                                   - ASSETS -

                                                                   SEPTEMBER 30,
                                                                      2003          December 31, 2002
                                                                    -----------     -----------------
                                                                    (UNAUDITED)
CURRENT ASSETS:
<S>                                                                 <C>                <C>
     Cash and cash equivalents                                      $     1,073        $     8,100
     Miscellaneous receivable                                                --                 --
                                                                    -----------        -----------

TOTAL ASSETS                                                        $     1,073        $     8,100
                                                                    ===========        ===========


                    - LIABILITIES AND SHAREHOLDERS' DEFICIT -

CURRENT LIABILITIES:
     Accrued expenses                                               $    25,982        $    24,787
                                                                    -----------        -----------

TOTAL CURRENT LIABILITIES                                                25,892             24,787
                                                                    -----------        -----------

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' DEFICIT:
     Preferred stock $1.00 par value; 4,000,000 shares
       authorized, none issued                                               --                 --
     Common stock, $.10 par value 25,000,000 authorized,
       8,627,275 issued in 2002 and 2001                                862,728            862,728
     Additional paid-in capital                                       2,757,275          2,757,275
     Common stock subscribed                                              8,000                 --
     Accumulated deficit                                             (3,626,121)        (3,626,121)
     Deficit accumulated during the development stage                   (26,791)           (18,569)
                                                                    -----------        -----------
                                                                        (24,909)           (16,687)
                                                                    -----------        -----------
                                                                    $     1,073        $     8,100
                                                                    ===========        ===========
</TABLE>

                       See notes to financial statements.

                                                                         Page 3.

<PAGE>

                           CHASE PACKAGING CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                           CUMULATIVE DURING
                                             THE DEVELOPMENT
                                                 STAGE                                                  Nine Months Ended
                                          (JANUARY 1, 1999 TO        THREE MONTHS ENDED           ----------------------------
                                              SEPTEMBER 30,             SEPTEMBER 30,                     September 30,
                                                  2003)            2003              2002            2003              2002
                                               -----------      -----------      -----------      -----------      -----------
<S>                                            <C>              <C>              <C>              <C>              <C>
NET SALES                                      $        --      $        --      $        --      $        --      $        --
                                               -----------      -----------      -----------      -----------      -----------

COSTS AND EXPENSES:
    General and administrative expense              27,853            3,320            2,057            8,255            4,832
    Interest and other income                       (1,062)              (3)              (9)             (33)             (39)
                                               -----------      -----------      -----------      -----------      -----------
TOTAL COSTS AND EXPENSES                            26,791            3,317            2,048            8,222            4,793
                                               -----------      -----------      -----------      -----------      -----------

(LOSS) BEFORE INCOME TAXES                         (26,791)          (3,317)          (2,048)          (8,222)          (4,793)

   Income tax expense                                   --               --               --               --               --
                                               -----------      -----------      -----------      -----------      -----------

NET (LOSS)                                     $   (26,791)     $    (3,317)     $    (2,048)     $    (8,222)     $    (4,793)
                                               ===========      ===========      ===========      ===========      ===========

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING       8,627,275        8,627,275        8,627,275        8,627,275        8,627,275
                                               ===========      ===========      ===========      ===========      ===========

(LOSS) PER COMMON SHARE                        $        --      $        --      $        --      $        --      $        --
                                               ===========      ===========      ===========      ===========      ===========
</TABLE>

                       See notes to financial statements.

                                                                         Page 4.

<PAGE>

                           CHASE PACKAGING CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                CUMULATIVE DURING THE
                                                                  DEVELOPMENT STAGE
                                                                 (JANUARY 1, 1999 TO     Nine Months Ended
                                                                      SEPTEMBER 30,         September 30,
                                                                          2003          2003          2002
                                                                        --------      --------      --------
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                                     <C>           <C>           <C>
    Net (loss)                                                          $(26,791)     $ (8,222)     $ (4,793)

    Change in assets and liabilities:
         Miscellaneous receivable                                             --            --        (5,090)
         Accounts payable and accrued expenses                             2,703         1,195        (2,500)
                                                                        --------      --------      --------
              NET CASH (UTILIZED) BY OPERATING ACTIVITIES                (24,088)       (7,027)      (12,383)


CASH FLOWS FROM INVESTING ACTIVITIES                                          --            --            --

CASH FLOWS FROM FINANCING ACTIVITIES
    Proceeds from private placement/exercise of stock warrants            13,500            --         8,000
                                                                        --------      --------      --------

NET (DECREASE) IN CASH AND CASH EQUIVALENTS                              (10,588)       (7,027)       (4,383)

    Cash and cash equivalents, at beginning of period                     11,661         8,100         7,582
                                                                        --------      --------      --------

CASH AND CASH EQUIVALENTS, AT END OF PERIOD                             $  1,073      $  1,073      $  3,199
                                                                        ========      ========      ========


SUPPLEMENTAL CASH FLOW INFORMATION
  Cash paid during the period for:
       Interest                                                         $     --      $     --      $     --
</TABLE>

                       See notes to financial statements.

                                                                         Page 5.

<PAGE>


                           CHASE PACKAGING CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2003
                                   (UNAUDITED)

NOTE 1 - BASIS OF PRESENTATION:

            On June 25,  1997,  Chase  Packaging  Corporation  ("Chase"  or "the
            Company")  announced to  employees  and  creditors  that Chase would
            begin an orderly  liquidation of all Chase's assets beginning at the
            close of business on June 30, 1997.  On July 25,  1997,  the Company
            notified its creditors by mail that the Company would  commence with
            an orderly  liquidation  of all its  remaining  assets  outside of a
            formal bankruptcy or receivership proceeding in a manner intended to
            maximize asset values.  The Company's Board of Directors  determined
            that  it was in the  best  interest  of the  Company  and all of its
            creditors to liquidate in an orderly fashion. The Company ceased all
            operating activity as of June 30, 1997 and liquidation of all of its
            assets was completed as of December 31, 1997.

            The Board of Directors has been devoting its efforts to establishing
            a new business and,  accordingly,  the Company is being treated as a
            development  state stage  company,  in accordance  with Statement of
            Financial Accounting Standards No. 7, effective January 1, 1999.

            In the opinion of management,  the  accompanying  unaudited  interim
            condensed   financial   statements  of  the  Company,   contain  all
            adjustments  necessary  (consisting of normal recurring  accruals or
            adjustments only) to present fairly the Company's financial position
            as of September  30,  2003,  the results of its  operations  for the
            three and nine month periods  ended  September 30, 2003 and 2002 and
            its cash flows for the nine month periods ended September 30, 2003.

            The  accounting  policies  followed  by the Company are set forth in
            Note 2 to the Company's financial  statements included in its Annual
            Report on Form 10-KSB for the year ended  December 31, 2002 which is
            incorporated herein by reference. Specific reference is made to this
            report for a description  of the Company's  securities and the notes
            to consolidated financial statements.

NOTE 2 - LOSS PER COMMON SHARE:

            Loss per  common  share for the three and nine  month  periods  were
            calculated  by  dividing  net loss for the  period by the  number of
            shares  outstanding  for the periods  ended  September  30, 2003 and
            2002.

NOTE 3 - SHAREHOLDERS' EQUITY:

            In July 2002,  the  Company  received  $8,000 as payment for 800,000
            shares of common  stock.  Such shares have not been issued as of the
            filing of this report.


                                                                         Page 6.

<PAGE>


ITEM 2. MANAGEMENT'S PLAN OF OPERATIONS:

            Chase  Packaging  Corporation  (the  Company) had  experienced  cash
            losses for the past years in spite of numerous  infusions of working
            capital  and  an   aggressive   program  of  inventory  and  expense
            reduction.  During 1997, the Board of Directors  determined  that an
            orderly  liquidation was in the best interest of the Company and all
            of its creditors and retained the firm of Edward  Hostmann,  Inc. to
            assist the Company in such liquidation.

            As part of the  liquidation  process,  effective  July 21, 1997, the
            Company  sold most of its assets in Idaho  Falls,  Idaho  (excluding
            real estate) to Lockwood  Packaging  Corporation  for $330,000.  The
            Company also sold the Idaho Falls real estate  (land and  building).
            During July and August of 1997,  Chase sold most of its inventory in
            Portland to other  packaging  companies.  The Company  also sold its
            band label  extruder  for  $125,000  with  remaining  inventory  and
            machinery  and  equipment  sold at an  August 14  auction  for gross
            proceeds of  approximately  $340,000.  As of December 31, 1997,  the
            Company had completed the liquidation of all of its assets.

            Effective  January 1, 1999, the Board of Directors has been devoting
            its efforts to  establishing  a new  business and  accordingly,  the
            Company  is  being  treated  as  a  development  stage  company,  in
            accordance with Statement of Financial  Accounting  Standards No. 7,
            as  of  that  date.   The  Company   continues   to  pay  for  minor
            administrative  expenses and is  generating  interest  income on its
            remaining cash balance.

            The Company's cash balance as of September 30, 2003 was $1,073.

ITEM 3. CONTROLS AND PROCEDURES:

            (a) Evaluation of Disclosure Controls and Procedures.

            As of September  30, 2003, we carried out an  evaluation,  under the
            supervision of Ann W. Green our sole Principal Financial Officer, 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 (the "Exchange Act"), which disclosure controls
            and procedures are designed to insure that  information  required to
            be  disclosed  by a company in the  reports  that it files under the
            Exchange Act is recorded, processed,  summarized and reported within
            required time periods specified by the SEC's rules and forms.  Based
            upon that evaluation, the Principal Financial Officer concluded that
            our  disclosure  controls  and  procedures  are  effective in timely
            alerting management to material  information relating to the company
            required to be included in the company's period SEC filings.

            (b) Changes in Internal Control.

            Subsequent   to  the  date  of  such   evaluation  as  described  in
            subparagraph  (a) above,  there were no  significant  changes in our
            internal controls or other factors that could  significantly  affect
            these  controls,  including  any  corrective  action  with regard to
            significant deficiencies and material weaknesses


                                                                         Page 7.

<PAGE>


                           PART II. OTHER INFORMATION

Item 1.       Legal Proceedings

              None

Item 2.       Changes in Securities

              None

Item 3.       Defaults upon Senior Securities

              None

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

              None

Item 5.       Other Information

              None

Item 6.       Exhibits and Reports

              Exhibit 31.1             Certification   of  the  Chief  Executive
                                       Officer  pursuant  to Section  302 of the
                                       Sarbanes-Oxley Act of 2002.

              Exhibit 31.2             Certification of the Principal  Financial
                                       and   Accounting   Officer   pursuant  to
                                       Section 302 of the  Sarbanes-Oxley Act of
                                       2002.

              Exhibit 32.1             Certification   of  the  Chief  Executive
                                       Officer  pursuant  to 18  U.S.C.  Section
                                       1350, as adopted  pursuant to Section 906
                                       of the Sarbanes-Oxley Act of 2002.

              Exhibit 32.2             Certification of the Principal  Financial
                                       Officer  pursuant  to 18  U.S.C.  Section
                                       1350, as adopted  pursuant to Section 906
                                       of the Sarbanes-Oxley Act of 2002.


                                                                         Page 8.

<PAGE>

                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.


                                CHASE PACKAGING CORPORATION


                                /s/ Ann W. Green
                                -------------------------------------
Date: June 29, 2004             Ann W. Green
                                (Assistant Secretary
                                and Principal Financial and
                                Accounting Officer)



                                                                         Page 9.