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  June  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, 26 Broadway, 8th Floor, New York, NY 10004
          ------------------------------------------------------------
              (Address of principal executive offices)   (Zip Code)


                                 (212) 510-0686
        ----------------------------------------------------------------
                (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  July  31,  2002
-----------------------          -------------------------------------------
Common  Stock,  par  value                  8,627,275  shares
$.10  per  share


<PAGE>
<TABLE>
<CAPTION>
<S>                                                                                 <C>
                                    - INDEX -



                                                                                                PAGE(S)
                                                                                               -------

PART  I.     Financial  Information:

ITEM  1.     Financial  Statements

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

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

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

             Notes  to  Interim  Financial  Statements  (Unaudited)                                6.

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


PART  II.    Other  Information                                                                    8.


SIGNATURES                                                                                         9.

                                                                       Page 2



</TABLE>
<PAGE>
PART  I.     FINANCIAL  INFORMATION:

ITEM  I.     FINANCIAL  STATEMENTS:

                           CHASE PACKAGING CORPORATION
                           ---------------------------
                          (A DEVELOPMENT STAGE COMPANY)
                          -----------------------------
                                 BALANCE SHEETS
                                 --------------

                                       -  ASSETS  -
<TABLE>
<CAPTION>
                                                                              June 30,    December 31,
                                                                                2002          2001
                                                                            ------------  -----------
                                                                            (UNAUDITED)
<S>                                                                             <C>           <C>
CURRENT ASSETS:
 Cash and cash equivalents                                                  $     2,337   $     7,582
                                                                            ------------  ------------

TOTAL ASSETS                                                                $     2,337   $     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 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
Accumulated deficit                                                          (3,626,121)   (3,626,121)
Deficit accumulated during the development stage                                (14,232)      (11,487)
                                                                            ------------  ------------
                                                                                (20,350)      (17,605)
                                                                            ------------  ------------

                                                                            $     2,337   $     7,582
                                                                            ============  ============

                       See notes to financial statements.
</TABLE>
                                                                       Page 3

<PAGE>
                           CHASE PACKAGING CORPORATION
                           ---------------------------
                          (A DEVELOPMENT STAGE COMPANY)
                          -----------------------------
                            STATEMENTS OF OPERATIONS
                            ------------------------
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                     CUMULATIVE
                                     DURING THE
                                     DEVELOPMENT
                                        STAGE          THREE MONTHS ENDED     SIX MONTHS ENDED
                                 (JANUARY 1, 1999          JUNE 30,               JUNE 30,
                                                  --------------------------------------------------
                                 TO JUNE 30, 2002) 2002         2001         2002         2001
                                  --------------- --------------------------------------------------
<S>                                    <C>          <C>          <C>          <C>          <C>
NET SALES                            $        -   $        -   $        -   $        -   $        -
                                     -----------  -----------  -----------  -----------  -----------
COSTS AND EXPENSES:
General and administrative expense       15,235        2,275        3,974        2,775        3,974
Interest and other income                (1,003)         (15)         (64)         (30)        (140)
                                     -----------  -----------  -----------  -----------  -----------
TOTAL COSTS AND EXPENSES                 14,232        2,260        3,910        2,745        3,834
                                     -----------  -----------  -----------  -----------  -----------

(LOSS) BEFORE INCOME TAXES              (14,232)      (2,260)      (3,910)      (2,745)      (3,834)

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

NET (LOSS)                           $  (14,232)  $   (2,260)  $   (3,910)  $   (2,745)  $   (3,834)
                                     ===========  ===========  ===========  ===========  ===========

WEIGHTED AVERAGE
 COMMON SHARES
 OUTSTANDING                          7,350,213    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       Six Months Ended
                                                    (January 1, 1999       June 30,
                                                                      -------------------
                                                    to June 30, 2002   2002       2001
                                                   -----------------  ---------  --------
<S>                                                         <C>        <C>       <C>
INCREASE (DECREASE) IN CASH AND CASH
 EQUIVALENTS
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                                                    $(14,232)  $(2,745)  $(3,834)

Change in assets and liabilities:
Accounts payable and accrued expenses                           (592)   (2,500)        -
                                                            ---------  --------  --------
NET CASH (UTILIZED) BY OPERATING ACTIVITIES                  (14,824)   (5,245)   (3,834)

CASH FLOWS FROM INVESTING ACTIVITIES                               -         -         -

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

NET (DECREASE) IN CASH                                        (9,324)   (5,245)   (3,834)
CASH AND CASH EQUIVALENTS, AT BEGINNING OF
PERIOD                                                        11,661     7,582     7,168
                                                            ---------  --------  --------
CASH AND CASH EQUIVALENTS, AT END OF PERIOD                 $  2,337   $ 2,337   $ 3,334
                                                            =========  ========  ========


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
                          -----------------------------
                                  JUNE 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  June  30,  2002, the results of its
operations  for the three and six month periods ended June 30, 2002 and 2001 and
its  cash  flows  for  the  six  month  periods  ended  June  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  for the three and six month periods were calculated by
dividing  net  loss  for  the period by the number of shares outstanding for the
periods  ended  June  30,  2002  and  2001.


NOTE   3   -     SUBSEQUENT  EVENT:

In  July 2002, subsequent to the balance sheet date, 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 June 30, 2002 was $2,337.  In July 2002, the
Company  received  $8,000  in  proceeds  from  the  sale  of  its  common  stock

                                                                       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 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:  August 12,  2002          Ann  W.  Green
                                (Assistant  Secretary
                                 and  Principal  Financial  and
                                 Accounting  Officer)



                                                                       Page 9