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, 2002

                                       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, 2002
-------------------------------------------  -----------------------------------
Common Stock, par value $.10 per share              8,627,275 shares




<PAGE>




                                    - INDEX -

<TABLE>


                                                                                                                   Page(s)
<S>                                                                                                                    <C>
PART I.        Financial Information:

ITEM 1.        Financial Statements

               Balance Sheets - September 30, 2002 (Unaudited) and December 31, 2001                                    3.

               Statements of Operations (Unaudited) - Cumulative Period During
                  the Development Stage (January 1, 1999 to September 30, 2002)
                  and the Three and Nine Months Ended September 30, 2002 and
                  2001                                                                                                  4.

               Statements of Cash Flows (Unaudited) - Cumulative Period During
                  the Development Stage (January 1, 1999 to September 30, 2002) and the Nine Months
                  Ended September 30, 2002 and 2001                                                                     5.

               Notes to Interim Financial Statements (Unaudited)                                                        6.


ITEM 2.        Management's Discussion and Analysis or Plan of Operation                                                7.

ITEM 3.        Controls and Procedures                                                                                  7.

PART II.       Other Information                                                                                        8.


SIGNATURES                                                                                                              9.
</TABLE>



<PAGE>


PART I.  FINANCIAL INFORMATION:

ITEM I.  FINANCIAL STATEMENTS:

                           CHASE PACKAGING CORPORATION
                           ---------------------------
                          (A Development Stage Company)
                           ---------------------------
                                 BALANCE SHEETS
                                 --------------
<TABLE>
<CAPTION>

                                   - ASSETS -

                                                                                            September 30,
                                                                                                 2002      December 31, 2001
                                                                                              (unaudited)
CURRENT ASSETS:
<S>                                                                                        <C>               <C>
     Cash and cash equivalents .......................................................     $      3,199      $      7,582
     Miscellaneous receivable ........................................................            5,090              --
                                                                                           ------------      ------------

TOTAL ASSETS .........................................................................     $      8,289      $      7,582
                                                                                           ============      ============








                    - LIABILITIES AND SHAREHOLDERS' DEFICIT -

CURRENT LIABILITIES:
     Accrued expenses ................................................................     $     22,687      $     25,187
                                                                                           ------------      ------------

TOTAL CURRENT LIABILITIES ............................................................           22,687            25,187
                                                                                           ------------      ------------





COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' DEFICIT:
     Preferred stock, $1.00 par value; 4,000,000 shares authorized, none issued ......             --                --
     Common stock,  $.10 par value authorized 25,000,000, 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 ................................          (16,280)          (11,487)
                                                                                           ------------      ------------
                                                                                                (14,398)          (17,605)
                                                                                           ------------      ------------

                                                                                           $      8,289      $      7,582
                                                                                           ============      ============
</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
                                             (January 1, 1999 to        Three Months Ended              Nine Months Ended
                                                September 30,             September 30,                  September 30,
                                                                        ------------------              -----------------
                                                    2002)              2002           2001            2002            2001
                                                    ----               ----           ----            ----            ----

<S>                                            <C>              <C>              <C>              <C>              <C>
NET SALES ................................     $      --        $      --        $      --        $      --        $      --
                                               -----------      -----------      -----------      -----------      -----------

COSTS AND EXPENSES:
    General and administrative expense ...          17,292            2,057            1,340            4,832            5,314
    Interest and other income ............          (1,012)              (9)             (53)             (39)            (193)
                                               -----------      -----------      -----------      -----------      -----------
TOTAL COSTS AND EXPENSES .................          16,280            2,048            1,287            4,793            5,121
                                               -----------      -----------      -----------      -----------      -----------

(LOSS) BEFORE INCOME TAXES ...............         (16,280)          (2,048)          (1,287)          (4,793)          (5,121)

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

NET (LOSS) ...............................     $   (16,280)     $    (2,048)     $    (1,287)     $    (4,793)     $    (5,121)
                                               ===========      ===========      ===========      ===========      ===========

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING       7,436,035        8,627,275        7,002,964        8,627,275        7,002,964
                                               ===========      ===========      ===========      ===========      ===========

(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,
                                                                                                   -----------------------
                                                                              2002                 2002               2001
                                                                              ----                 ----               ----
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                                          <C>                <C>                <C>
    Net loss ......................................................          $(16,280)          $ (4,793)          $ (5,121)

    Change in assets and liabilities:
         Miscellaneous receivable .................................            (5,090)            (5,090)              --
         Accounts payable and accrued expenses ....................              (592)            (2,500)              --
                                                                             --------           --------           --------
              Net cash (utilized) by operating activities .........           (21,962)           (12,383)            (5,121)


CASH FLOWS FROM INVESTING ACTIVITIES ..............................              --                 --                 --


CASH FLOWS FROM FINANCING ACTIVITIES
    Proceeds from private placement/exercise of stock warrants ....            13,500              8,000              5,500
                                                                             --------           --------           --------

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS ..............            (8,462)            (4,383)               379

    Cash and cash equivalents, at beginning of period .............            11,661              7,582              7,168
                                                                             --------           --------           --------

CASH AND CASH EQUIVALENTS, AT END OF PERIOD .......................          $  3,199           $  3,199           $  7,547
                                                                             ========           ========           ========



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, 2002
                                   (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, 2002,  the results of its
operations  for the three and nine month  periods  ended  September 30, 2002 and
2001 and its cash flows for the nine month periods ended September 30, 2002.

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, 2001 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  (basic and diluted) for the three and nine month  periods
were  calculated by dividing the net loss for the period by the number of shares
outstanding for the periods ended September 30, 2002 and 2001.


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, 2002 was $3,199.


ITEM 3. CONTROLS AND PROCEDURES:

An evaluation  was performed,  as of September 30, 2002, by our Chief  Executive
Officer and our Chief Financial Officer,  of the effectiveness of the design and
operation of our disclosure  controls and procedures.  Based on such evaluation,
our management has concluded  that our disclosure  controls and procedures  were
effective as of September 30, 2002.  There have been no  significant  changes in
our internal  controls or in other factors that could  significantly  affect our
internal controls subsequent to September 30, 2002.




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

              Exhibit 99.2          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
                                      ---------------------------




                                      ------------------------------
Date: November 13, 2002               Ann W. Green
                                      (Assistant Secretary
                                      and Principal Financial and
                                      Accounting Officer)



                                                                         Page 9.
<PAGE>



                            CERTIFICATION PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

     I,  Allen  McInnes,  president  and  principal  executive  officer of Chase
Packaging Corporation, certify that:

1.   I have reviewed  this  quarterly  report on Form 10-QSB of Chase  Packaging
     Corporation;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report.

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

     a)   designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidating 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 of this
          quarterly report (the "Evaluation Date"); and

     c)   presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date.

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent functions):

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

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

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.

         November 13, 2002


                                     ------------------------
                                     Allen McInnes



                                                                        Page 10.
<PAGE>



                            CERTIFICATION PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

     I, Ann W. Green, assistant secretary and principal financial and accounting
officer of Chase Packaging Corporation, certify that:

1.   I have reviewed  this  quarterly  report on Form 10-QSB of Chase  Packaging
     Corporation;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report.

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

     a)   designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidating 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 of this
          quarterly report (the "Evaluation Date"); and

     c)   presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date.

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent functions):

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

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

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.

         November 13, 2002


                                          ---------------------------
                                          Ann W. Green




                                                                        Page 11.
<PAGE>



                                                                    Exhibit 99.1


                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002



In connection with the Quarterly Report of Chase Packaging Corporation (the
"Company") on Form 10-QSB for the period ending September 30, 2002 as filed with
the Securities and Exchange Commission on the date hereof (the "Report"), I,
Allen Mcinnes, President and Chief Executive Officer of the Company, certify,
pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the
Sarbanes-Oxley Act of 2002, to the best of my knowledge, that:

(1)  The Report fully complies with the  requirements  of section 13(a) or 15(d)
     of the Securities Exchange Act of 1934; and

(2)  The information  contained in the Report fairly  presents,  in all material
     respects, the financial condition and result of operations of the Company.



                                         --------------------------------
                                         Allen McInnes
                                         President and Chief Executive Officer
November 13, 2002




                                                                        Page 12.
<PAGE>




                                                                  Exhibit 99.2


                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002



In connection with the Quarterly Report of Chase Packaging Corporation (the
"Company") on Form 10-QSB for the period ending September 30, 2002 as filed with
the Securities and Exchange Commission on the date hereof (the "Report"), I, Ann
W. Green, Assistant Secretary and Principal Financial Officer of the Company,
certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the
Sarbanes-Oxley Act of 2002, to the best of my knowledge, that:

(1)  The Report fully complies with the  requirements  of section 13(a) or 15(d)
     of the Securities Exchange Act of 1934; and

(2)  The information  contained in the Report fairly  presents,  in all material
     respects, the financial condition and result of operations of the Company.



                                    ------------------------------
                                    Ann W. Green
                                    Assistant Secretary and
                                    Principal Financial Officer
November 13, 2002


                                                                        Page 13.
<PAGE>