Amendment #1

                          Washington, D.C. 20549

(Mark One)

         [X] Quarterly report pursuant to Section 13 or 15(d) of the
                      Securities Exchange Act of 1934

                For the quarterly period ended December 31, 2001


           [ ] Transition report pursuant to Section 13 or 15(d) of the
                      Securities Exchange Act of 1934

             For the transition period____________to_______________

                       Commission file number 0-27175

                          ADVANCE TECHNOLOGIES, INC.
             (Exact name or registrant as specified in its charter)

         Nevada                            95-4755369
(State or other jurisdiction           (I.R.S. Employer
Incorporation or organization)        Identification No.)

                            716 Yarmouth Rd Suite 215
                         Palos Verdes Estates, CA 90274
                    (Address of principal executive offices)

Registrant's telephone number, including area code: (310) 265-7776

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 that the  registrant  was Required to file
such  reports),  and  (2)  has  shorter  period  been  subject  to  Such  filing
requirements for the past 90 days.
Yes [X]  No [  ]


Indicate by check  whether the  registrant  has filed all  documents  And report
required to be filed by Sections 12, 13 or 15(d) of the Securities  Exchange Act
of 1934 subsequent to the distribution of securities Under a plan confirmed by a

Yes [  ]  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 December  31, 2001,  approximately  2,572,923  shares of the  Registrant's
Common Stock, $0.001 par value were outstanding.

As of December 31, 2001,  approximately  50,204,102  shares of the  Registrant's
Class A Preferred Non-voting Stock par value $0.001 were outstanding.


    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.

Date: April 23, 2001                   Advance Technologies, Inc.

                                              By: /s/GARY E. BALL
                                                  Gary E. Ball
                                                  President and Director


                           ADVANCE TECHNOLOGIES, INC.

                          (A Development Stage Company)

                        Consolidated Financial Statements

                                December 31, 2001

                                                  Chisholm & Associates, CPA
                                                  PO Box 540216
                                                  North Salt Lake, UT 84054
                                                  Tel: (801) 292-8756

(a Development Stage Company)
Consolidated Balance Sheets

                                                                                December 31,          September 30,
                                                                                    2001                  2001
                                                                              -----------------     ------------------
Current Assets
  Cash                                                                          $            -        $         3,515
                                                                              -----------------     ------------------

Total Current Assets                                                                         -                  3,515
                                                                              -----------------     ------------------

Property & Equipment, Net                                                               25,002                 26,835
                                                                              -----------------     ------------------

    Total Assets                                                                $       25,002        $        30,350
                                                                              =================     ==================


Current Liabilities
  Accrued Interest                                                              $       15,572        $        13,007
  Note Payable - Officer                                                                28,300                 28,300
  Advance Royalties                                                                     25,000                 25,000
                                                                              -----------------     ------------------

Total Current Liabilities                                                               68,872                 66,307
                                                                              -----------------     ------------------

Long Term Liabilities
  Line of Credit                                                                        85,500                 85,500

Total Long Term Liabilities                                                             85,500                 85,500
                                                                              -----------------     ------------------

    Total Liabilities                                                                  154,372                151,807
                                                                              -----------------     ------------------

Stockholders' Equity
  Common Stock, Authorized 100,000,000 Shares of $.001 Par Value,
    Issued and Outstanding 2,572,923 shares                                              2,573                  2,573
  Preferred Stock, Series A Authorized 100,000,000 Shares of $.001
    Par Value, Issued and Outstanding 50,204,102 Shares                                 50,204                 50,204
  Additional Paid in Capital                                                           446,496                446,496
  Deficit Accumulated During the Development Stage                                    (628,643)              (620,730)
                                                                              -----------------     ------------------

Total Stockholders' Equity                                                            (129,370)              (121,457)
                                                                              -----------------     ------------------

    Total Liabilities and Stockholders' Equity                                  $       25,002        $        30,350
                                                                              =================     ==================

(a Development Stage Company)
Consolidated Statements of Operations

                                             For the three      For the three     From inception on
                                              months ended       months ended     October 1, 1985
                                              December 31,       December 31,     thru December 31,
                                                  2001               2000                 2001
                                            -----------------  -----------------  ----------------------

Revenues                                     $       17,447     $            -     $          48,432

Operating Expenses
  Research & Development                                  -             27,600                72,750
  General & Administrative                           14,795              9,202               618,054
                                            -----------------  -----------------  ----------------------

    Total Operating Expenses                         14,795             36,802               690,804
                                            -----------------  -----------------  ----------------------

Operating Income (Loss)                               2,652            (36,802)             (642,372)
                                            -----------------  -----------------  ----------------------

Other Income (Expense)
   Miscellaneous Income                                   -                  -                98,000
   Interest Expense                                 (10,565)            (2,548)              (23,572)
                                            -----------------  -----------------  ----------------------

    Total Other Income (Expense)                    (10,565)            (2,548)               74,428
                                            -----------------  -----------------  ----------------------

Net Income (Loss)                            $       (7,913)    $      (39,350)    $        (567,944)
                                            =================  =================  ======================

Net Income (Loss) Per Share                  $        (0.00)    $        (0.02)    $           (0.99)
                                            =================  =================  ======================

Weighted Average Shares Outstanding               2,572,923          2,572,923               572,923
                                            =================  =================  ======================

(a Development Stage Company)
Consolidated Statements of Cash Flows

                                                                                                               From inception
                                                                                                                inception on
                                                                   For the three months ended                 October 1, 1985
                                                                               December 31,                         thru
                                                                                                                December 31,
                                                                             2001                   2000            2001
                                                               ----------------------  -----------------------------------------

Cash Flows from Operating Activities

  Net Income (Loss)
                                                               $              (7,913)    $         (39,350)   $       (567,944)
  Adjustments to Reconcile Net Loss to Net Cash
    Provided by Operations:
     Depreciation & Amortization                                                1,833                3,500              35,998
     Stock Issued for Services                                                      -                    -             399,775
     Organization Costs                                                             -                    -              11,331
     Decrease in Prepaids                                                           -                    -               2,180
  Change in Assets and Liabilities
     Increase in Deferred Income                                                    -               49,000                   -
     Increase (Decrease) in Accounts Payable and
      Accrued Expenses                                                          2,565               (9,572)             15,574

  Net Cash Provided(Used) by Operating Activities                              (3,515)               3,578            (103,086)

Cash Flows from Investing Activities
  Investment in Subsidiary                                                          -                    -                 286
  Purchase of Equipment                                                             -              (10,000)            (36,000)

  Net Cash Provided (Used) by Investing Activities                                  -              (10,000)            (35,714)

Cash Flows from Financing Activities
  Payments for Officer Loan                                                         -                    -             (33,200)
  Proceeds from Officer Loan                                                        -                    -              61,500
  Proceeds from Line of Credit                                                      -                6,000              85,500
  Proceeds from Issuance of Stock                                                   -                    -              25,000

  Net Cash Provided(Used) by Financing Activities                                   -                6,000             138,800

Increase (Decrease) in Cash                                                    (3,515)                (422)                  -

Cash and Cash Equivalents at Beginning of Period                                3,515                1,646                   -

Cash and Cash Equivalents at End of Period
                                                               $                    -    $           1,224    $              -

Cash Paid For:
  Interest                                                     $                8,000    $               -    $          8,000
  Income Taxes                                                 $                    -    $               -    $              -

                           ADVANCE TECHNOLOGIES, INC.
                          (A Development Stage Company)
                 Notes to the Consolidated Financial Statements
                                December 31, 2001


Advance  Technologies,  Inc.(the Company) has elected to omit  substantially all
footnotes to the financial  statements  for the three months ended  December 31,
2001 since there have been no material  changes  (other than  indicated in other
footnotes) to the information previously reported by the Company in their Annual
Report filed on Form 10-KSB for the fiscal year ended September 30, 2001.


The  information  furnished  herein was taken from the books and  records of the
Company without audit.  However, such information reflects all adjustments which
are, in the opinion of management,  necessary to properly reflect the results of
the interim  period  presented.  The  information  presented is not  necessarily
indicative of the results from operations expected for the full fiscal year.


Advance  Technologies  Inc.  ("AVTX") is a developer of infrared  (IR)  Enhanced
Vision technology and commercial solutions.  The Company has a worldwide license
from Hughes Aircraft  Company,  Los Angeles,  California for a patented advanced
infrared  Enhanced  Vision System.  Advance  Technologies  licenses and develops
applied  infrared  enhanced  vision  solutions  for  use in  diverse  industries
including aviation, recreational vehicles, commercial trucking, marine, security
and fire fighting.

Advance Technologies has entered into a licensing agreement with Kollsman, Inc.,
which has incorporated  the Company's  technology into an Enhanced Vision System
("EVS") for use with Gulfstream Aerospace(R) aircraft.

On October 16, 2001, Gulfstream Aerospace Corporation, a wholly owned subsidiary
of General Dynamics,  announced it has received  certification  from the Federal
Aviation Administration to install the "revolutionary" Enhanced Vision System on
the  Gulfstream  V  ultra-long  range  business  jet  aircraft.  The  FAA-issued
Supplemental Type Certificate allows Gulfstream to offer EVS as an option on new
GV  ultralong  range  business  jet aircraft and also to install the system as a
retrofit on in-service GV aircraft.

Gulfstream Aerospace Corporation issued the following news release:


     SAVANNAH,  Georgia--(BUSINESS  WIRE)--Oct.  16, 2001--Gulfstream  Aerospace
     Corporation,  a wholly owned subsidiary of General Dynamics (NYSE: GD), has
     received certification from the Federal Aviation  Administration to install
     the  revolutionary  Enhanced  Vision System on the  Gulfstream V ultra-long
     range business jet aircraft.

     The FAA-issued Supplemental Type Certificate allows Gulfstream to offer EVS
     as an option on new GV  ultralong  range  business jet aircraft and also to
     install the system as a retrofit on in-service GV aircraft.

     "The EVS is a revolutionary  safety enhancement for operators of Gulfstream
     V business jet  aircraft,"  said Bill  Boisture,  Gulfstream  president and
     chief   operating   officer.   "Offered   exclusively  by  Gulfstream,   it
     significantly  improves situational awareness for flight crews and provides
     instant access to the information  needed to make safe flying  decisions in
     adverse weather and low-visibility conditions."

     Gulfstream  has  integrated  the  enhanced  vision  technology  onboard the
     revolutionary  Gulfstream V-SP; it is a standard component of its exclusive
     PlaneView(TM)  cockpit. Next month Gulfstream will begin to design and test
     EVS for retrofit on in-service  Gulfstream  IV business jet  aircraft.  EVS
     will be  offered  as an option on all new  Gulfstream  IV-SP  business  jet
     aircraft. Certification for the GIV is expected by mid-year 2002.

     "EVS and the exclusive  PlaneView cockpit represent two more  revolutionary
     firsts by a company that is already known for taking the leadership role in
     product development," said Pres Henne, senior vice president, programs.

     The EVS  incorporates  a unique  sensor  system  based  on  Forward-Looking
     Infrared  (FLIR)  technology  developed and  manufactured by Kollsman Inc.,
     Merrimack,  NH. The EVS sensor projects an infrared,  real-world  conformal
     image on Honeywell's  Head-Up  Display in the cockpit.  The image enables a
     pilot to see through fog and darkness.  In-service  GVs outfitted  with HUD
     can be retrofitted with EVS to achieve the same safety enhancements.

     The FAA's Safer Skies  initiative has identified  several  situations  that
     cause accidents,  including  deteriorating  weather conditions,  controlled
     flights into terrain,  runway incursions and mistakes during approaches and

     EVS can assist with each of these  volatile  situations.  Enhancing  vision
     during  adverse  weather   conditions,   darkness  or  obstructed  landings
     significantly reduces the margin for error.

     "As part of our FAA certification  flight testing last month,  three pilots
     and an FAA flight test engineer flew 80 approaches using EVS during the day
     and at night in all kinds of weather  conditions," said Mike Mena,  program
     manager for the GV-SP and EVS.  "The  Gulfstream  flight  crew,  pilots Ron
     Newton and Gary Freeman and Flight Test  Engineer  Bill  Osborne,  flew the
     aircraft  over  mountains  at night  to show  the FAA how well EVS  detects
     terrain.  EVS  met  or  exceeded  all  expectations  during  this  testing,
     successfully  meeting the demanding FAA certification  criteria.  Thanks to
     their expertise and knowledge,  our team was able to demonstrate EVS to the
     fullest extent possible."

     "There's  a lot of demand for the EVS," Mena  added.  "To date,  we've sold
     about 35 Enhanced Vision Systems for GV retrofit installation.  This number
     does not include the systems that will be  installed as standard  equipment
     on the GV-SP business jet aircraft."  Gulfstream service centers will begin
     EVS retrofit installations on in-service GVs in the first quarter of 2002.

     Gulfstream  Aerospace  Corporation,  a wholly owned  subsidiary  of General
     Dynamics (NYSE:GD), designs, develops,  manufactures,  markets and services
     the world's most  technologically  advanced  intercontinental  business jet
     aircraft.  Gulfstream  has produced more than 1,200  aircraft for customers
     around the world since 1958. To meet the aviation  needs of its  customers,
     Gulfstream offers a full range of aircraft products and services, including
     the  Gulfstream  100(R),   Gulfstream  200(R),   Gulfstream  IV-SP(R),  the
     ultra-long  range  Gulfstream  V(R)  and  Gulfstream  V-SP(R),   Gulfstream
     Shares(R),   Gulfstream   Financial   Services(R),   Gulfstream   Lease(R),
     Gulfstream Pre-Owned Aircraft Sales(R),  Gulfstream Management  Services(R)
     and Gulfstream  ServiceCare(R).  The company employs more than 8,750 people
     at  eight   locations.   We   invite   you  to   visit   our  Web  site  at   for  photos  of   Gulfstream   aircraft   and  related

     General  Dynamics,   headquartered  in  Falls  Church,  Virginia,   employs
     approximately 52,000 people and anticipates 2001 sales of approximately $12
     billion.  The company has leading  market  positions in business  aviation,
     information  systems,   shipbuilding  and  marine  systems,  and  land  and
     amphibious combat systems.  More information about the company can be found

Enhance Vision System will enter production this year. AVTX benefits through its
license  agreement  with Kollsman  Inc.  whereby AVTX  achieves  royalties  that
increase in time. AVTX will provide  guidance based upon production  commitments
and delivery schedules between Gulfstream Aerospace Company and Kollsman Inc. as
this information  becomes available.  In February 2002, as a result of the FAA's

granting  of the  Supplemental  Type  Certification  in October  2001,  Kollsman
notified  the  Company  that it has  received  its  first  production  order for
Enhanced  Vision  Systems  (EVS).  The purchase  agreement  calls for an initial
aircraft  launch  customer  to  purchase  in excess of 140 systems at a price of
approximately  $1  million  each.   Under  terms  of  this  Agreement,   Advance
Technologies  is  entitled  to  royalties  from  the sale of EVS  units  for the
commercial  aviation  market.  This  event  marks  the  first  Federal  Aviation
Administration (FAA) certified EVS to enter into production. The Company expects
additional  sales based upon an industry  report which  indicates  customers are
selecting the EVS equipment  option at a higher than  anticipated  rate.  EVS is
planned to be made available on additional  aircraft in the future.  The Company
anticipates a positive cash flow will occur by the third Quarter of 2002.

Enhance  Vision  Systems has been receiving  extremely  positive  reviews in the
professional  publications.  (Professional Pilot,  November 2001, Avionics News,
January  2002,  Aviation  Week  &  Space  Technology,   January  2001)  Aviation
International  News,  January  2002 called "EVS could easily be listed as one of
the most  important  aviation  safety  innovations  of the last 20  years."  The
achievement of EVS  Certification was called by Aviation  International  News as
"on the list of top news makers of the year (2001)".

Advance  Technologies,  Inc. also continues its  development  phase with several
projects  moving  forward at a pace  dictated  by market  conditions,  technical
innovations and market factors.

NITEAGLE(TM) Advance Technologies'  proprietary infrared system for recreational
vehicles has been under field  evaluation  since  delivery in November  from our
Taiwanese partner, Telesis Technologies. This unit is being evaluated for market
acceptance  and  performance  evaluation.  The  result of this  evaluation  will
establish our future  direction with product and a better  understanding  of its
market potential

Db-associates  has submitted a market study proposal to Telesis  Technologies to
address key issues  associated  with  introducing  the Spectrum  9000,  Infrared
Thermograph Medical Instrument into the USA. The Spectrum 9000 was introduced in
Taiwan in 2000 and in Korea in 2001. It has received  excellent reviews from the
medical  community  for its use in  alternative  medical  applications.  AVTX is
collaborating with Telesis on a plan to introduce this system in the USA at some
future time.

Our  other  projects  at  time  cannot  be  forecasted  with  any  certainty  of


         No commitment for capital resources has been made during this reporting


         The results on the operation represent projects of likely future events
         that cannot be guaranteed.  Therefore,  the financial analysis does not
         include  projects,  and no  quantitative  assessment  has been provided
         based upon the future discussion of potential events in section 3.

         The Company has received  revenue  pursuant to an agent agreement with,
         that allows the Company to receive fixed monthly  service fees,  and to
         bill for additional  services  provided.  The Company records  revenues
         when the services are performed.

         The  Company  is  entitled  to   reimbursement   for  various  expenses
         associated with the development of its night vision technology pursuant
         to  the  joint  venture  agreement  with  Telesis  Technologies.  These
         reimbursements are recorded as miscellaneous income when received.

         No  material   changes  have  been   provided;   therefore   impact  of
         unforeseeable events cannot be assessed.

         Present  financial  plans are adequate to meet our cash flow needs with
         our current project schedule.