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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 MARCH 31, 2004
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 [ ]

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PART I.

ITEM 1. FINANCIAL STATEMENTS

FIRST AMERICAN SCIENTIFIC CORP.

Consolidated Financial Statements

TABLE OF CONTENTS

INDEPENDENT ACCOUNTANT’S REVIEW REPORT		F-1
FINANCIAL STATEMENTS
	Consolidated Balance Sheets	F-2
	Consolidated Statements of Operations and Comprehensive Income (Loss)	F-3
	Consolidated Statement of Stockholders' Equity	F-4
	Consolidated Statements of Cash Flows	F-5
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS		F-6

class=Section3>

FIRST AMERICAN SCIENTIFIC CORP.
CONSOLIDATED BALANCE SHEETS
				March 31,		June 30,
				2004		2003
ASSETS				(Unaudited)
CURRENT ASSETS
	Cash		$	(13,217)	$	64,762
	Accounts receivable, net of allowance			157,344		3,019
	Sales tax refunds			5,908		24,876
	Prepaid expenses and other assets			9,067		23,597
	Inventory			276,593		190,442
		TOTAL CURRENT ASSETS		435,695		306,696
PROPERTY AND EQUIPMENT
	Property and equipment			144,802		306,473
	Less: Accumulated depreciation			(78,738)		(145,867)
		TOTAL PROPERTY AND EQUIPMENT		66,064		160,606
OTHER ASSETS
	Investment			44,950		-
	Technology rights, net of amortization			1,057,492		1,152,743
	Patents and manufacturing rights, net of amortization			171,445		171,884
	Research and development refund receivables			-		83,085
	Deposits			166		166
		TOTAL OTHER ASSETS		1,274,053		1,407,878
TOTAL ASSETS			$	1,775,812	$	1,875,180
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
	Accounts payable and accrued expenses		$	195,341	$	178,315
	Deposit on sale of equipment			30,000		-
		TOTAL CURRENT LIABILITIES		225,341		178,315
LONG-TERM LIABILITIES
	Notes and wages payable to related parties			216,356		110,276
		TOTAL LONG-TERM LIABILITIES		216,356