SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 8-K/A
                                Amendment No. 1

                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

         DATE OF REPORT: (DATE OF EARLIEST EVENT REPORTED) : MAY 6, 2003

                              COMMISSION FILE NO. 000-20172



                       AMERICAN INTERNATIONAL ASSETS, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)



              UTAH                                       31-1190725
- ----------------------------------           ----------------------------------
(STATE  OR  OTHER  JURISDICTION  OF          (IRS EMPLOYER  IDENTIFICATION  NO.)
INCORPORATION  OR  ORGANIZATION)



           135-27 38th Avenue., Suite 328, Flushing, New York 11354
- -------------------------------------------------------------------------------
                    (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)

                                  (718) 762-6226
                     --------------------------------------
                           (ISSUER  TELEPHONE NUMBER)




ITEM  4.     CHANGES  IN  REGISTRANT'S  CERTIFYING  ACCOUNTANT.

This amended Form 8-K is being filed to modify the disclosure provided in the
Form 8-K filed on May 12, 2003 to reflect that the client auditor relationship
between American International Assets, Inc. and Bierwolf, Nilson & Associates
has not ceased.


                                   Signatures

Pursuant  to  the  requirement  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.


AMERICAN  INTERNATIONAL  ASSETS,  INC.

May  15,  2003
/s/Nicholas  Hsu
- ----------------
Nicholas  Hsu
Chief  Executive  Officer