UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                  FORM 10-QSB/A

(Mark One)
[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: 0-14869


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

                   NEVADA                               95-3932052
       ---------------------------------              -------------------
        (State or other jurisdiction of                (I.R.S. Employer
         incorporation or organization)               Identification No.)

          Suite 400, 1111 West Georgia Street, Vancouver, B.C. V6E 4M3
       -------------------------------------------------------------------
               (Address of principal executive offices) (Zip code)

                                 (604) 689-5377
       -------------------------------------------------------------------
              (Registrant's telephone number, including area code)

       -------------------------------------------------------------------
       (Former name, address or 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 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.

As of June 30, 2002 the registrant  had 7,141,600  shares of Common Stock issued
and outstanding.

                         PART I. FINANCIAL INFORMATION
                         ITEM 1. FINANCIAL STATEMENTS.
                                       1

















                                  KOMODO, INC.
                          (A Development Stage Company)

                              FINANCIAL STATEMENTS

                        June 30, 2002 and March 31, 2002



































                                       2

                                  KOMODO, INC.
                          (A Development Stage Company)
                                 Balance Sheets

                                     ASSETS
                                     ------      June 30,       March 31,
                                                   2002           2002
                                              -------------   -------------
                                               (Unaudited)
CURRENT ASSETS

 Cash                                         $          -    $          -
 Prepaid expenses                                      236             290
                                              ------------    ------------
   Total Current Assets                                236             290
                                              ------------    ------------
OTHER ASSETS

 E-virus technology                                     50              50
                                              ------------    ------------
 Total Other Assets                                     50              50
                                              ------------    ------------
   TOTAL ASSETS                               $        286    $        340
                                              ============    ============
                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
 Cash overdraft                               $          8    $          3
 Accounts payable and accrued
    liabilities-related party                       47,284          34,629
 Reserve for discontinued operations               205,676         205,676
                                              ------------    ------------
   Total Current Liabilities                       252,968         240,308
                                              ------------    ------------
COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY (DEFICIT)
 Preferred stock: 10,000,000 shares
  authorized of $0.001 par value,
  2,000,000 shares issued and outstanding            2,000           2,000
 Common stock: 100,000,000 shares
  authorized of $0.001 par value,
  7,141,600 shares issued and outstanding
  at June 30, 2002 and7,121,600 at
  March 31, 2002                                     7,142           7,122
 Additional paid-in capital                     12,740,551      12,728,571
 Stock subscriptions receivable                   (246,761)       (246,761)
 Deferred compensation                            (169,750)       (229,750)
 Deficit accumulated during the development
  stage                                        (12,585,864)    (12,501,150)
                                              ------------    ------------
   Total Stockholders' Equity (Deficit)           (252,682)       (239,968)
                                              ------------    ------------
   TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
    (DEFICIT)                                 $        286    $        340
                                              ============    ============

    The accompanying notes are an integral part of the financial statements.
                                        3

                                  KOMODO, INC.
                          (A Development Stage Company)
                            Statements of Operations
                                   (Unaudited)

                                                                      From
                                                                  Inception on
                                                                  November 10,
                                For the Three Months Ended        1995 Through
- --------------------------------------------------------------------------------
                                           June 30,                 March 31,
                                --------------------------------
                                      2002             2001           2002
                                --------------- --------------- ---------------

REVENUES                        $            -  $            -  $            -
                                --------------  --------------  --------------

EXPENSES

 Depreciation and amortization               -                -         194,021
 General and administrative             84,714            5,382       1,482,113
                                --------------  --------------- ---------------

   Total Expenses                       84,714            5,382       1,676,134
                                --------------  --------------- ---------------

LOSS FROM OPERATIONS                   (84,714)          (5,382)     (1,676,134)
                                --------------  --------------- ---------------

LOSS FROM DISCONTINUED
 OPERATIONS                                  -                -     (10,909,730)
                                --------------  --------------- ---------------

NET LOSS                        $      (84,714) $        (5,382)$   (12,585,864)
                                ==============  =============== ===============
BASIC LOSS PER SHARE OF
 COMMON STOCK                   $        (0.01) $         (0.00)
                                ==============  ===============
WEIGHTED AVERAGE NUMBER OF
 SHARES OUTSTANDING                  7,132,150        3,013,096
                                ==============  ===============












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

                                        4


                                  KOMODO, INC.
                          (A Development Stage Company)
                  Statements of Stockholders' Equity (Deficit)

                                                                 
                                     Preferred Stock           Common Stock     Additional
                                   ---------------------- ---------------------  Paid-In
                                   Shares       Amount      Shares     Amount    Capital
                                   ---------- ----------- ---------- ---------- ------------
Balance, March 31, 2001            2,000,000  $    2,000  1,606,991  $    1,607 $11,565,886

August 15, 2001 to January 23,
2002,stock issued for cash at
 $0.04 to $0.25 per share                  -           -  1,206,668       1,207     236,543

May 4, 2001 to February 20, 2002,
cash received on stock subscription        -            -         -           -           -

September 30, 2001, stock
subscription receivable satisfied by
reduction of accounts payable-related      -            -         -           -           -

March 31, 2002,
Write-off subscription receivable          -            -         -           -           -

August 15, 2001 to October 15, 2001,
 stock issued for services at
 $0.02 to $0.25 per share                  -            - 2,271,671       2,272     150,978

October 15, 2001,
 stock issued for deferred compensation
 at $0.25 per share                        -            - 1,359,000       1,359     338,391
                                   ---------  ----------- ---------  ---------- -----------
Balance forward                    2,000,000  $     2,000 6,444,330  $    6,445 $12,291,798
                                   ---------  ----------- ---------  ---------- -----------



















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

                                        5


                                  KOMODO, INC.
                          (A Development Stage Company)
                  Statements of Stockholders' Equity (Deficit)


                                                                   
                                                                                  Deficit
                                                                                Accumulated
                                           Stock         Other                  During the
                                       Subscription   Deferred   Comprehensive  Development
                                        Receivable  Compensation  Income(Loss)     Stage
                                       ------------ ------------- ------------ -------------
Balance, March 31, 2001                $   (24,346) $          -  $         -  $(11,780,944)

August 15, 2001 to January 23, 2002,
stock issued for cash at
 $0.04 to $0.25 per share                 (237,750)            -            -             -

May 4, 2001 to February 20, 2002,
cash received on stock subscription         11,510             -            -             -

September 30, 2001,
 stock subscription receivable
 satisfied by reduction of
 accounts payable-related                    3,575             -            -             -

March 31, 2002,
Write-off subscription receivable              250             -            -             -

August 15, 2001 to October 15, 2001,
 stock issued for services at
 $0.02 to $0.25 per share                        -             -            -             -

October 15, 2001,
 stock issued for deferred
 compensation at $0.25 per share                 -      (339,750)           -             -
                                       -----------  ------------  -----------  ------------
Balance forward                        $  (246,761) $   (339,750) $         -  $(11,780,944)
                                       -----------  ------------  -----------  ------------















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

                                        6


                                  KOMODO, INC.
                          (A Development Stage Company)
            Statements of Stockholders' Equity (Deficit) (Continued)

                                                                 
                                     Preferred Stock          Common Stock      Additional
                                   ---------------------- ---------------------  Paid-In
                                   Shares       Amount      Shares     Amount    Capital
                                   ---------- ----------- ---------- ---------- ------------
Balance forward                    2,000,000  $    2,000  6,444,330  $   6,445  $ 12,291,798

April 1, 2001 to March 31, 2002,
 services rendered for
 deferred compensation                     -           -          -          -             -

September 27, 2001,
 stock issued for payment of
 accounts payable                          -           -    469,333        469         8,331

October 28, 2001,
 stock issued for purchase of
 technology                                -           -    200,000        200          (150)

October 15, 2001,
Additional expense through
 issuance of warrants                      -           -          -          -       428,600

Fractional shares issued                   -           -      7,937          8            (8)

Net loss for the year ended
 March 31, 2002                            -           -          -          -             -
                                   ---------  ----------  ---------  ---------  ------------
Balance, March 31, 2002            2,000,000       2,000  7,121,600      7,122    12,728,571

May 13, 2002,
 stock issued for services
 (unaudited)                               -           -     20,000         20        11,980

April 1, 2002 to June 30, 2002,
 services rendered for deferred
 compensation (unaudited)                  -           -          -          -             -

Net loss for the three months
 ended June 30, 2002 (unaudited)           -           -          -          -             -
                                   ---------  ----------  ---------  ---------  ------------
Balance, June 30, 2002 (unaudited) 2,000,000  $    2,000  7,141,600  $   7,142  $ 12,740,551
                                   =========  ==========  =========  =========  ============







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

                                        7


                                  KOMODO, INC.
                          (A Development Stage Company)
                  Statements of Stockholders' Equity (Deficit)


                                                                   
                                                                                  Deficit
                                                                                Accumulated
                                           Stock         Other                  During the
                                       Subscription   Deferred   Comprehensive  Development
                                        Receivable  Compensation  Income(Loss)     Stage
                                       ------------ ------------- ------------ -------------
Balance forward                        $  (246,761) $   (339,750) $         -  $(11,780,944)

April 1, 2001 to March 31, 2002,
 services rendered for
 deferred compensation                           -       110,000            -             -

September 27, 2001,
 stock issued for payment of
 accounts payable                                -             -            -             -

October 28, 2001,
 stock issued for purchase of
 technology                                      -             -            -             -

October 15, 2001,
Additional expense through
 issuance of warrants                            -             -            -             -

Fractional shares issued                         -             -            -             -

Net loss for the year ended
 March 31, 2002                                  -             -            -      (720,206)
                                       -----------  ------------  -----------  ------------
Balance, March 31, 2002                   (246,761)     (229,750)           -   (12,501,150)

May 13, 2002,
 stock issued for services
 (unaudited)                                     -             -            -             -

April 1, 2002 to June 30, 2002,
 services rendered for deferred
 compensation (unaudited)                        -        60,000            -             -

Net loss for the three months
 ended June 30, 2002 (unaudited)                 -             -            -       (84,714)
                                       -----------  ------------  -----------  ------------
Balance, June 30, 2002
 (unaudited)                           $  (246,761) $   (169,750) $         -  $(12,585,864)
                                       ===========  ============  ===========  ============


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

                                        8



                                  KOMODO, INC.
                          (A Development Stage Company)
                            Statements of Cash Flows
                                   (Unaudited)

                                                                              
                                                                                       From Inception on
                                                            For the Three Months Ended  November 10,
                                                                       June 30,         1995 Through
                                                            --------------------------    June 30,
                                                                 2002         2001          2002
CASH FLOWS FROM OPERATING ACTIVITIES                        ------------  ------------  ------------
   Net loss                                                 $   (84,714)  $    (5,382)  $(12,585,864)
   Adjustments to reconcile net loss to net cash used
    by operating activities:
     Depreciation and amortization expense                            -             -        194,021
     Stock issued for services                                   12,000             -      3,691,523
     Stock issued for payment of account payable                      -             -          8,800
     Bad debt expense                                                 -             -        224,941
     Write-off mineral property                                       -             -      3,914,434
     Write-off of stock subscription receivable                       -             -            250
     Services rendered for deferred compensation                 60,000             -        170,000
     Warrants granted below market value                              -             -        497,581
     Currency translation adjustment                                  -             -       (168,626)
   Changes in operating assets and liabilities:
    (Increase) decrease in accounts receivable                        -             -       (213,312)
     (Increase) decrease in deposits and
       prepaid expenses                                              54         1,333        (85,601)
     Increase (decrease) in accounts payable and
      accounts payable-related party                              9,358         4,043        175,951
     Increase (decrease) in accrued liabilities                     554             -          2,438
     Increase in reserve for discontinued operations                  -             -        258,161
                                                            -----------   -----------    -----------
       Net Cash Used by Operating Activities                     (2,748)           (6)    (3,915,303)
                                                            -----------   -----------    -----------
CASH FLOWS FROM INVESTING ACTIVITIES
   Purchase of fixed assets                                           -             -       (149,014)
   Purchase of mineral property and deferred
    exploration costs                                                 -             -     (2,762,539)
                                                            -----------   -----------    -----------
       Net Cash Used by Investing Activities                          -             -     (2,911,553)
                                                            -----------   -----------    -----------
CASH FLOWS FROM FINANCING ACTIVITIES
   Cash received on stock subscription                                -             -         11,510
   Decrease in cash overdraft                                         5             6              8
   Proceeds from common stock                                         -             -      5,340,175
   Proceeds on notes payable - related party                      2,743             -      1,475,163
                                                            -----------   -----------    -----------
       Net Cash Provided by Financing Activities                  2,748             6      6,826,856
                                                            -----------   -----------    -----------
NET INCREASE IN CASH                                                  -             -              -

CASH AT BEGINNING OF PERIOD                                           -             -              -
                                                            -----------   -----------    -----------
CASH AT END OF PERIOD                                       $         -   $         -    $         -
                                                            ===========   ===========    ===========

    The accompanying notes are an integral part of the financial statements.
                                        9

                                  KOMODO, INC.
                          (A Development Stage Company)
                      Statements of Cash Flows (Continued)
                                   (Unaudited)

                                                                   

                                                                                From
                                                                            Inception on
                                                For the Three Months Ended  November 10,
                                                           June 30,         1995 Through
                                                ---------------------------    June 30,
                                                    2002           2001          2002
                                                ------------- ------------- -------------
CASH PAID FOR:

   Interest                                     $          -  $          -  $        114
   Income taxes                                 $          -  $          -  $          -

NON-CASH FINANCING ACTIVITIES

   Common stock issued for acquisition of asset $          -  $          -  $    394,062
   Common stock issued for debt conversion      $          -  $          -  $  1,210,719
   Common stock issued for mineral properties   $          -  $          -  $    550,000
   Common stock issued for services             $     12,000  $          -  $  3,691,523
   Common stock issued for license              $          -  $          -  $    125,000
   Common stock issued for subscription         $          -  $          -  $    237,750
   Common stock issued for payment of
    accounts payable                            $          -  $          -  $      8,800


























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

                                       10

                                  KOMODO, INC.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                        June 30, 2002 and March 31, 2002

NOTE 1 -     BASIS OF FINANCIAL STATEMENT PRESENTATION

             The accompanying unaudited condensed financial statements have been
             prepared by the Company  pursuant to the rules and  regulations  of
             the Securities and Exchange  Commission.  Certain  information  and
             footnote  disclosures  normally  included in  financial  statements
             prepared  in  accordance  with  accounting   principles   generally
             accepted in the United  States of America  have been  condensed  or
             omitted  in  accordance  with  such  rules  and  regulations.   The
             information furnished in the interim condensed financial statements
             include normal recurring  adjustments and reflects all adjustments,
             which,  in the  opinion of  management,  are  necessary  for a fair
             presentation  of such  financial  statements.  Although  management
             believes the disclosures and information  presented are adequate to
             make the  information  not  misleading,  it is suggested that these
             interim condensed financial  statements be read in conjunction with
             the Company's  most recent audited  financial  statements and notes
             thereto  included  in its  March  31,  2002  Annual  Report on Form
             10-KSB.  Operating results for the three months ended June 30, 2002
             are not necessarily  indicative of the results that may be expected
             for the year ending March 31, 2003.

NOTE 2 -      GOING CONCERN

              The Company's  financial  statements are prepared using  generally
              accepted accounting principles applicable to a going concern which
              contemplates   the   realization  of  assets  and  liquidation  of
              liabilities in the normal course of business.  The Company has not
              yet established an ongoing source of revenues  sufficient to cover
              its operating  costs and allow it to continue as a going  concern.
              The  ability of the  Company  to  continue  as a going  concern is
              dependent  on the  Company  obtaining  adequate  capital  to  fund
              operating  losses until it becomes  profitable.  If the Company is
              unable to  obtain  adequate  capital,  it could be forced to cease
              operations.

              In order to continue as a going concern, develop a reliable source
              of revenues,  and achieve a  profitable  level of  operations  the
              Company  will  need,  among  other  things,   additional   capital
              resources.  Management's  plans  to  continue  as a going  concern
              include raising  additional capital through sales of common stock.
              However, management cannot provide any assurances that the Company
              will be successful in accomplishing any of its plans.

              The  ability of the  Company  to  continue  as a going  concern is
              dependent  upon its ability to  successfully  accomplish the plans
              described in the preceding  paragraph and eventually  secure other
              sources  of  financing  and  attain  profitable  operations.   The
              accompanying  financial  statements do not include any adjustments
              that might be  necessary if the Company is unable to continue as a
              going concern.

                                       11

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

Plan of Operation

The current activities conducted by the Company are to manage its limited assets
and  to  seek  out  and  investigate  the  acquisition  of any  viable  business
opportunity  by purchase and exchange for  securities of the Company or pursuant
to a  reorganization  or merger through which  securities of the Company will be
issued or exchanged. On June 6, 2002, the Company signed a Letter of Intent with
The Magnetizer  Group,  Inc. a private  company  incorporated  under the laws of
Pennsylvania,   USA.  The  Company  and  Magnetizer  intend  to  enter  into  an
Acquisition  Agreement  wherein  the Company  will  acquire  Magnetizer.  At the
current  time  the  Company  is in the  process  of  preparing  the  Acquisition
agreement.

This  Form 10-Q  contains  forward-looking  statements  that  involve  risks and
uncertainties.  We may use words  such as  "anticipates,"  "believes,"  "plans,"
"expects,"   "future,"   "intends,"   "may,"  "will,"   "should,"   "estimates,"
"predicts,"  "potential,"  "continue"  and similar  expressions to identify such
forward-looking statements". Forward-looking statements are subject to known and
unknown  risks,  uncertainties  and other  factors  that may  cause  our  actual
results,  levels of  activity,  performance,  achievements  and  prospects to be
materially  different  from those  expressed or implied by such  forward-looking
statements.  These forward-looking  statements apply only as of the date of this
Form  10-Q.  We  undertake  no  obligation  to  publicly  update or  revise  any
forward-looking  statements,  whether  as a result  of new  information,  future
events or otherwise.  In light of these risks,  uncertainties,  and assumptions,
the  forward-looking  events  discussed  in this Form 10-Q might not occur.  Our
actual  results  could  differ   materially  from  those  anticipated  in  these
forward-looking  statements  for many  reasons,  including the risks faced by us
described above and elsewhere in this Form 10-Q and readers are cautioned not to
place  undue  reliance  on  these  forward  looking  statements,  which  reflect
management's analysis only as of the date hereof.

Results of Operations

We have incurred  significant  losses since inception on November 10, 1995. From
inception to June 30, 2002, the Company has incurred a net loss of  $12,585,864,
with a net loss of $84,714 for the three months ended June 30, 2002.

For the  majority  of this  quarter  the  Company  was  engaged  in  discussions
regarding Magnetizer and reviewing documentation and products.

We  estimate  that  existing  sources of  liquidity  and the funds  provided  by
anticipated   capital  activity  will  satisfy  our  projected  working  capital
requirements  through the last quarter of fiscal  2002.  Our ability to maintain
sufficient  liquidity  through  fiscal 2002 is dependent on the company  raising
additional capital and such capital may not be available on acceptable terms, if
at all. Additional financing may result in substantial and immediate dilution to
existing  stockholders.  If adequate  funds are not available to satisfy  either
short or long-term capital requirements,  the company may be required to curtail
operations  significantly or to seek funds through  arrangements  with strategic
partners, existing investors or other parties.



                                       12

                           PART II - OTHER INFORMATION


Item 1.       Legal Proceedings

              None

Item 2.       Changes in Securities

During the quarter the company  issued 20,000 common shares for service at $0.60
per share.


Item 3.       Defaults Upon Senior Securities

              None; not applicable

Item 4        Submission of Matters to a Vote of Security Holders

              None

Item 5.       Other Information



              None

Item 6.       Exhibits and Reports on Form 8-K

              (a) Exhibits

                  None

              (b) Report on Form 8-K
                  None






















                                       13

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.

                                            KOMODO, INC.


Date:  August 23, 2002                      ------------------------
                                            By   / s / Gordon Muir
                                            President / Director


Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
this  Report has been  signed  below by the  following  persons on behalf of the
Company and in the capacities and on the dates indicated:


                                            KOMODO, INC.


Date:  August 23, 2002                      --------------------
                                            By / s / Gordon Muir
                                            President / Director

Date:  August 23, 2002                      ------------------------
                                            By / s / Victor Cardenas
                                            Secretary/Director


                            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 Komodo,  Inc. (the "Company") on Form
10-Q(SB) for the period  ending June 30, 2002 as filed with the  Securities  and
Exchange  Commission on the date hereof (the  "Report"),  I, GORDON MUIR,  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, 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.


         /s/ GORDON MUIR
         ---------------
         Chief Executive Officer

         Date:  August 23, 2002



                                       14