UNITED STATES 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, 2003

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

                       Commission File Number:  000-08835

                       WORLDTEQ GROUP INTERNATIONAL, INC.
             (Exact name of registrant as specified in its charter)

               NEVADA                                           03-7392107
     (State or other jurisdiction                              IRS Employer
  of incorporation or organization)                         Identification No.)

                          30 West Gude Drive, Suite 470
                               Rockville, MD 20850
          (Address of principal executive offices, including zip code)

                                 (240) 403-2000
              (Registrant's telephone number, including area code)


                      APPLICABLE ONLY TO CORPORATE ISSUERS

      As of August 15, 2003, there were 21,630,000 shares of common stock, $.001
par value, outstanding.

Transitional  Small Business Disclosure Format (check one):    Yes [ ]    No [X]




                 WORLDTEQ GROUP INTERNATIONAL, INC. FORM 10-QSB

                    For the Third Quarter Ended June 30, 2003

                                TABLE OF CONTENTS


PART  I.  FINANCIAL  INFORMATION

      Item 1. Financial Statements

            a.    Consolidated Balance Sheets as of June 30, 2003(Unaudited) and
                  December 31, 2002

            b.    Consolidated Statements of Operations for the three and six
                  month periods ended June 30, 2003 and 2002

            c.    Consolidated Statements of Cash Flows for the six month period
                  ended June 30, 2003 and 2002

            d.    Notes to Consolidated Financial Statements

      Item  2. Management's Discussion and Analysis of Financial Condition and
            Results of Operations

      Item  3. Controls and Procedures


PART  II.  OTHER  INFORMATION

      Item  6. Exhibits and Reports on Form 8-K


SIGNATURES

CERTIFICATIONS



                          PART I. FINANCIAL INFORMATION

ITEM  1.  FINANCIAL  STATEMENTS

Forward  Looking  Information

Various  forward-looking  statements  have  been  made  in  this  Form  10-QSB.
Forward-looking  statements  may  also  be  in the Company's other reports filed
under  the  Securities  Exchange Act of 1934, in its press releases and in other
documents.  In addition, from time to time, the Company, through its management,
may  make  oral  forward-looking  statements.

Forward-looking  statements are only expectations, and involve known and unknown
risks  and  uncertainties,  which may cause actual results in future periods and
other  future  events  to  differ materially from what is currently anticipated.
Certain  statements  in  this  Form  10-QSB,  including  those  relating  to the
Company's  expected  results,  the accuracy of data relating to, and anticipated
levels of, its future revenues, gross margins and earnings, its anticipated cash
requirements  and  sources,  are  forward-looking  statements.  Such  statements
involve  risks  and  uncertainties, which may cause results to differ materially
from those set forth in these statements. Factors which may cause actual results
in  future  periods  to  differ  from  current expectations include, among other
things,  the  continued  availability  of  sufficient  working  capital,  the
availability  of  adequate sources of capital, the successful integration of new
employees  into  existing  operations,  the  continued desirability and customer
acceptance of existing and future products, the success of competitive products,
the  success  of  the  Company's  programs  to  strengthen  its  operational and
accounting  controls  and procedures. In addition to these factors, the economic
and  other  factors identified in this Form 10-QSB, including but not limited to
the  risk  factors discussed herein and in the Company's previously filed public
documents  could  affect  the forward-looking statements contained in herein and
therein.

Forward-looking  statements generally refer to future plans and performance, and
are  identified  by  the  words "believe", "expect", "anticipate", "optimistic",
"intend", "aim", "will" or the negative thereof and similar expressions. Readers
are  cautioned  not to place undue reliance on these forward-looking statements,
which  speak  only as of the date of which they are made. The Company undertakes
no  obligation  to  update  publicly  or  revise any forward-looking statements.

Financial  Statements  and  Notes

In  the  opinion  of management, the accompanying unaudited financial statements
included  in  this  Form  10-QSB  reflect  all  adjustments necessary for a fair
presentation of the results of operations for the periods presented. The results
of  operations  for  the periods presented are not necessarily indicative of the
results  to  be  expected  for  the  full  year.





                ITEM 1. FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION
                    WORLDTEQ GROUP INTERNATIONAL, INC. AND SUBSIDIARIES
                                CONSOLIDATED BALANCE SHEETS
                                ---------------------------



                                                               June 30,      December 31,
Assets                                                           2003            2002
                                                             -------------  --------------
                                                                      
                                                              (unaudited)
Current Assets:
      Restricted cash                                        $     55,000   $      85,000
      Accounts receivable                                          41,220          78,974
      Other current assets                                         12,285          12,574
                                                             -------------  --------------
      Total Current Assets                                        108,505         176,548
                                                             -------------  --------------

Equipment                                                         405,284         405,284
Accumulated depreciation                                         (384,192)       (330,711)
                                                             -------------  --------------
      Net fixed assets                                             21,092          74,573

                                                             -------------  --------------
Total Assets                                                 $    129,597   $     251,121
                                                             =============  ==============

Current Liabilities
      Accounts payable                                       $    274,430   $     646,263
      Accrued expenses                                             33,292          15,717
      Deferred revenue                                             25,763          51,616
      Note payable to shareholder                                 232,038         144,208
      Note payable                                                 96,136          98,703
                                                             -------------  --------------
      Total Current Liabilities                                   661,659         956,507
                                                             -------------  --------------

Commitments and Contingencies                                           -               -

Stockholders' Deficit
      Series A convertible preferred stock, $.001 par;
        4,749,989 liquidation value 5,000,000 shares
        authorized;1,055,553 shares issued and outstanding          1,055           1,055
      Common stock, $.001 par value, 100,000,000
        shares authorized, 21,630,000 shares issued
        and outstanding                                            21,630          21,630
      Paid in capital                                          20,441,476      20,089,016
      Retained deficit                                        (20,996,223)    (20,817,087)
                                                             -------------  --------------
      Total Stockholders' Deficit                                (532,062)       (705,386)
                                                             -------------  --------------

Total Liabilities and Stockholders' Deficit                  $    129,597   $     251,121
                                                             =============  ==============






                  WORLDTEQ GROUP INTERNATIONAL, INC. AND SUBSIDIARIES
                         CONSOLIDATED STATEMENTS OF OPERATIONS
                         -------------------------------------
                                      (UNAUDITED)
                                      -----------


                                      Three Months Ended          Six Months Ended
                                           June 30,                   June 30,
                                  -------------------------  -------------------------
                                      2003         2002          2003         2002
                                  ------------  -----------  ------------  -----------
                                                               
Sales                             $   208,401   $ 1,502,636  $   590,845   $ 2,654,747

Cost of sales                         104,970       628,459      314,030     1,209,062
Selling, general and
  administrative                      126,328       720,348      436,539     1,202,086
                                  ------------  -----------  ------------  -----------

  Income (loss) from operations       (22,897)      153,829     (159,724)      243,599

Interest expense                        9,706        12,156       19,412        22,594
                                  ------------  -----------  ------------  -----------

Net income (loss)                 $   (32,603)  $   141,673  $  (179,136)  $   221,005
                                  ============  ===========  ============  ===========

Basic and diluted income
  (loss) per share                $     (0.00)  $      0.01  $     (0.01)  $      0.01
                                  ============  ===========  ============  ===========
Weighted average shares
  outstanding                      21,630,000    17,830,000   21,630,000    17,830,000
                                  ============  ===========  ============  ===========






               WORLDTEQ GROUP INTERNATIONAL, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                      -------------------------------------
                                   (UNAUDITED)
                                   -----------


                                                    Six Months Ended
                                                       June 30,
                                                ----------------------
Cash Flows Used in Operating Activities            2003        2002
                                                ----------  ----------
                                                      
Net income (loss)                               $(179,136)  $ 221,005
Adjustments to reconcile net income (loss) to
   net cash used in operating activities:
   Depreciation and amortization                   53,484      32,872
   Bad debt expense                                     -     116,444
   Change in:
     Accounts receivable                           37,754    (384,147)
     Other current assets                             289      (7,231)
     Accounts payable                             (19,373)     97,332
     Accrued expenses and deferred revenue         (8,281)    (38,201)

                                                ----------  ----------
Net Cash Provided By Operating Activities        (115,263)     38,074
                                                ----------  ----------

Cash Flows Used In Investing Activities
    Purchases of equipment                              -    (104,744)

Cash Flows Provided By Financing Activities
    Proceeds from shareholder notes payable        87,830     126,528
    Payments on shareholder note payable                -    (114,457)
    Shareholder contributions to capital                -     171,667
    Payments on note payable                       (2,567)    (48,797)

                                                ----------  ----------
Net Cash Provided By Financing Activities          85,263     134,941
                                                ----------  ----------

Net change in cash                                (30,000)     68,271

Cash - beginning of period                         85,000     103,045
                                                ----------  ----------

Cash - end of period                            $  55,000   $ 171,316
                                                ==========  ==========


NON-CASH FINANCING ACTIVITIES:
------------------------------

Liabilities assumed by Networld acquiror        $ 352,560   $       -
                                                ==========  ==========




               WORLDTEQ GROUP INTERNATIONAL, INC. AND SUBSIDIARIES
                          NOTES TO FINANCIAL STATEMENTS

NOTE  1  -  BASIS  OF  PRESENTATION

The  accompanying  unaudited  interim  financial  statements  of  WorldTeq Group
International,  Inc.  ("WorldTeq")  have  been  prepared  in  accordance  with
accounting principles generally accepted in the United States of America and the
rules  of  the Securities and Exchange Commission ("SEC"), and should be read in
conjunction with the audited financial statements and notes thereto contained in
WorldTeq's  latest  Annual  Report  filed  with  the  SEC on Form 10-KSB. In the
opinion  of  management,  all  adjustments,  consisting  of  normal  recurring
adjustments,  necessary  for  a  fair presentation of financial position and the
results  of  operations  for  the  interim periods presented have been reflected
herein.  The  results  of  operations  for  interim  periods are not necessarily
indicative  of  the  results  to  be  expected  for the full year.  Notes to the
financial  statements  which  would  substantially  duplicate  the  disclosure
contained  in  the  audited financial statements for the most recent fiscal year
2002,  as  reported  in  the  10-KSB,  have  been  omitted.


NOTE  2  -  SALE  OF  SUBSIDIARY

In  May  2003,  Worldteq  sold its Networld subsidiary to an entity owned by the
majority  stockholder and former president for $1. Worldteq recorded the sale as
a  credit  to  additional  paid  in  capital  for  the  net liabilities totaling
approximately  $352,000.



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

RECENT  DEVELOPMENTS

While  our  company  has been somewhat stagnant during the last few quarters, we
have  discontinued  certain  unprofitable business segments and sold Networld in
order to focus on some exciting new opportunities.  We are currently focusing on
the small and medium sized business market on the telecom side, while leveraging
some  new and unique technologies with our billing system and financial services
products.  Recently  we  sold  NetWorld  of  Ohio  Inc.,  our Internet arm, to a
company  owned  by  the  majority  stockholder and former president of Worldteq.


RESULTS  OF  OPERATIONS

Total  net  sales  for  the  three  months ended June 30, 2003 were $208,401, as
compared to $1,502,636 the same 3 months ended June 30, 2002. Net decreased from
$141,673  and  221,005  for  the  three  and  six  months  ended  June 30, 2002,
respectively  to a net loss of $32,603 and $179,136 for the three and six months
ended  June  30,  2003.  This  decrease  was  primarily  attributable  to market
competition  and a change in focus for the company away from wholesale customers

Gross profit as a percentage of revenue has decreased slightly to 49.5% of sales
as compared to 58% of sales during the same 3-month period in 2002 due primarily
to  an  increase  in  sales  compensation  and  increased competition during the
quarter.

General  and  administrative  expenses  decreased significantly to $126,328 from
$720,348  for  the  three  months  ended  June  30,  2003,  and  June  30, 2002,
respectively  and  to $436,539 from $1,202,086 for the six months ended June 30,
2003  and 2002, respectively; this was primarily due to the reduction of support
staff  and  cost  containment  in  various  departments.

LIQUIDITY  AND  CAPITAL  RESOURCES

During  the quarter ending June 20, 2003 we eliminated non-productive assets and
pared  down  our  workforce  to  reduce  overhead.

Net  cash  used  in  operating activities for six months ended June 30, 2003 was
115,263.  The  negative  cash  provided  by  operating  activities was primarily
attributable  to  the  decrease  in  sales.  Net  financing  activities provided
$85,830  for  the  six  months  ended June 30, 2003 which resulted from advances
from  the  majority  stockholder.

Cash  at  end  of June 2003 amounted to $55,000. Our current assets for June 30,
2003  are  lower  than  our  current  liabilities.  We  believe our current cash
position  June  30,  2003 of $55,000 should be sufficient along with anticipated
operating  cash  flow  to  fund  our  operations  in  the  next  12  months.

We  are  currently  seeking additional capital so we may increase our operations
and  execute  our  business  plan  as  intended.  Although  we  have  no current
commitments for capital, we may raise additional funds through: public offerings
of  equity,  securities  convertible  into  equity or debt, private offerings of
securities  or  debt,  or  other  sources.

Our  investors  should assume that any additional funding will cause substantial
dilution  to  current  stockholders.  In  addition,  we may not be able to raise
additional  funds  on  favorable  terms,  if  at  all.




PART  II          OTHER  INFORMATION


Item  6.  Exhibits  and  Reports  on  Form  8-K.

          (a)  Exhibits

               Exhibit 31.1 - Certification of Chief Executive Officer and Chief
Financial  Officer  of WORLDTEQ GROUP INTERNATIONAL required by Rule 13a - 14(1)
or  Rule 15d - 14(a) of the Securities Exchange Act of 1934, as adopted pursuant
to  Section  302  of  the  Sarbanes-Oxley  Act  of  2002.

               Exhibit 32.1 -- Certification  of  Chief  Executive  Officer  and
Chief Financial Officer of Worlteq Group International, Inc. pursuant to Section
906  of  the  Sarbanes-Oxley  Act  of  2002  and  Section  1350 of 18 U.S.C. 63.

          (b)  Reports on Form 8-K

               The Company  filed  Form 8-K  on  February 6, 2003  relating  the
former  CEO taking a leave of absence after being convicted in the United States
District  Court  in  Miami.


               The  Company  filed Form 8-KA on May 27, 2003 containing Item 5 -
Completion of Subsidiary Sale, disclosing the sale of Networld.




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  hereunto  duly  authorized.


                             WORLDTEQ GROUP INTERNATIONAL



Date:  August 21, 2003                 By:  /s/   Jeffrey Lieberman
                                            -----------------------
                                       Jeffrey Lieverman
                                       Chief Executive Officer and
                                       President