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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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 DECEMBER 31, 2003
	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 000-27094

FIRST AMERICAN SCIENTIFIC CORP.

(Exact name of registrant as specified in its charter)

NEVADA	88-0338315
(State of other jurisdiction of incorporation or organization)	(IRS Employer IdentificationNumber)

100 Park Royal South

Suite 811

Vancouver, British Columbia

Canada V7T 1A2

(Address of principal executive offices)

(604) 913-9035

(Registrant's telephone number, including area code)

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 DECEMBER 31, 2003: 158,589,976

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PART I.

ITEM 1. FINANCIAL STATEMENTS

Board of Directors

First American Scientific Corp.

Vancouver, BC

INDEPENDENT ACCOUNTANT’S REVIEW REPORT

We have reviewed the accompanying consolidated balance sheet of First American Scientific Corp. as of December 31, 2003 and the related consolidated statements of operations and comprehensive income (loss), stockholders’ equity, and cash flows for the six months ended December 31, 2003 and 2002. All information included in these consolidated financial statements is the representation of the management of First American Scientific Corp.

We conducted our review in accordance with standards established by the American Institute of Certified Public Accountants. A review of interim financial information consists principally of applying analytical procedures to financial data and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit in accordance with auditing standards generally accepted in the United States of America, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in conformity with accounting principles generally accepted in the United States of America.

The financial statements for the year ended June 30, 2003 were audited by us and we expressed an unqualified opinion on them in our report dated July 11, 2002, but we have not performed any auditing procedures since that date.

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplates continuation of the Company as a going concern. As discussed in Note 2, the Company has an accumulated deficit of $10,807,014 at December 31, 2003 and has limited sales volume. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans regarding those matters also are described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

/s/ Williams & Webster, P.S.

Williams & Webster, P.S.

Certified Public Accountants

Spokane, Washington

February 11, 2004

F-1

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FIRST AMERICAN SCIENTIFIC CORP.
CONSOLIDATED BALANCE SHEETS
					December 31,
					2003		June 30,
ASSETS					(Unaudited)		2003
CURRENT ASSETS
	Cash			$	37,220	$	64,762
	Accounts receivable, net of allowance				9,797		3,019
	Sales tax refunds				-		24,876
	Prepaid expenses and other assets				20,769		23,597
	Inventory				190,442		190,442
			TOTAL CURRENT ASSETS		258,228		306,696
PROPERTY AND EQUIPMENT
	Property and equipment				306,473		306,473
	Less: Accumulated depreciation				(168,409)		(145,867)
			TOTAL PROPERTY AND EQUIPMENT		138,064		160,606
OTHER ASSETS
	Technology rights, net of amortization				1,089,242		1,152,743
	Patents and manufacturing rights, net of amortization				163,010		171,884
	Research and development refund receivables				91,974		83,085
	Deposits				-		166
			TOTAL OTHER ASSETS		1,344,226		1,407,878
TOTAL ASSETS				$	1,740,518	$	1,875,180
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
	Accounts payable and accrued expenses			$	181,776	$	178,315
			TOTAL CURRENT LIABILITIES		181,776		178,315
LONG-TERM LIABILITIES
	Notes and wages payable to related parties				353,337		110,276
			TOTAL LONG-TERM LIABILITIES		353,337		110,276
COMMITMENTS AND CONTINGENCIES					-		-
MINORITY INTEREST IN SUBSIDIARY					132,413		225,116
STOCKHOLDERS' EQUITY
	Common stock - $.001 par value,
		200,000,000 shares authorized; 158,589,976 and
		152,646,376 shares issued and outstanding, respectively			158,590		152,646
	Additional paid-in capital				11,491,220		11,200,120
	Stock options				238,431		204,831