UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549

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                                                                FORM 10-QSB/A-1
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QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For Quarter Ended: March 31, 2003

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

Commission file number: 0-27635

STARCOM WIRELESS NETWORKS, INC.
formerly known as
             BASIC TECHNOLOGIES, INC.             
 (Exact name of registrant as specified in its charter)


               Delaware               
(State or other jurisdiction of 
incorporation or organization)


      37-1465836      
(I.R.S. Employer
Identification No.)

7318 Point of Rocks Road
           Sarasota, Florida 34232           
(Address of principal executive offices, including zip code)

Registrant's Telephone No., including area code: (941) 928-5110

Basic Technologies, Inc., a Colorado corporation
7318 Point of Rocks Road
                                      Sarasota, Florida 34242                                        
(Former name, former address and former fiscal year, if changed since last report.)

Indicate by check 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 the latest practicable date.

Common stock, $.0001 par value                                       7,142,967                     
          Class                                          Number of shares outstanding at May 13,2003

STARCOM WIRELESS NETWORKS, INC.
formerly known as BASIC TECHNOLOGIES, INC.
Index

Page

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements:

Condensed Consolidated Balance Sheet, March 31, 2003 (unaudited)

3

Condensed Consolidated Statements of Operations for the three months ended March
      31, 2003 and 2002 and for the nine months ended March 31, 2003 and 2002
      (unaudited)



4

Condensed Consolidated Statements of Cash Flows for the nine months ended March
      31, 2003 and 2002 (unaudited)


5

Notes to Condensed Consolidated Financial Statements (unaudited)

6

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


7

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

8

Item 2. Changes in Securities

8

Item 3. Defaults Upon Senior Securities

8

Item 4. Submission of Matters to a Vote of Security Holders

8

Item 5. Other Information

8

Item 6. Exhibits and Reports on Form 8-K

8

Signatures

8

STARCOM WIRELESS NETWORKS, INC.
formerly known as BASIC TECHNOLOGIES, INC.
Condensed Consolidated Balance Sheet
March 31, 2003
(unaudited)

Assets

Current assets:

Cash

$

15,229  

Receivables:

Trade, net of allowance for doubtful accounts

34,044  

Employee advances

760  

Prepaid expenses and other

        10,260  

Total current assets

        60,292  

Property and equipment, net of accumulated depreciation

        85,557  

Total assets

$    145,849  

Liabilities and Shareholders' Deficit

Current liabilities:

Accounts payable

$     125,343 

Accrued liabilities

24,123 

Accrued interest payable

1,880 

Capital lease obligation

24,943 

Loans payable, related party

97,736 

Deferred revenue

 

          38,164 

Total current liabilities

        312,190 

Shareholders' deficit:

Preferred stock

-  

Common stock

90,300 

Additional paid-in capital

20,212 

Retained deficit

(30,306)

Year-to-date net loss

       (246,547)

Total shareholders' deficit.

       (166,341)

Total liabilities and shareholders' deficit

$      145,849  

See accompanying notes to condensed consolidated financial statements.

STARCOM WIRELESS NETWORKS, INC.
formerly known as BASIC TECHNOLOGIES, INC.
Condensed Consolidated Statements of Operations
(unaudited)

Three Months Ended

Nine Months Ended

March 31,

March 31,

2003

2002

2003

2002

Revenues

$     105,983  

$      64,255 

$     320,769 

$     241,072  

Costs and expenses:

Cost of revenues

56,989  

-  

189,100 

4,522  

Selling, general and administrative 

128,231  

447,467 

378,565 

873,949  

Provision for bad debt

           (4,458)

                   -  

            (2,229)

                   - 

Total costs and expenses

         180,763  

        447,467 

         565,436  

       878,471 

Loss from operations

(74,780)

(383,212)

(244,667)

(637,399)

Other income (expense):

Gain on debt settlement

-  

18,160  

-  

23,222  

Loss on sale of assets

-  

-  

-  

(1,018)

Interest income

-  

860  

-  

3,229  

Interest expense

(1,880)

(73,731)

(1,880)

(73,731)

Deferred tax benefit

-  

148,894  

-  

233,137  

Income tax provision

                 -  

                  -  

                    - 

                    - 

Net loss

$   (76,660)

$  (289,029)

$     (246,547)

$     (452,560)

Loss per share

Basic

$       (0.01)

$        (0.04)

$ (0.03)

$ (0.06)

Diluted

$       (0.01)

$        (0.04)

$ (0.03)

$ (0.06)

See accompanying notes to condensed consolidated financial statements.

STARCOM WIRELESS NETWORKS, INC.
formerly known as BASIC TECHNOLOGIES, INC.
Condensed Consolidated Statements of Cash Flows
(unaudited)

Nine Months Ended

March 31,

2003

2002

Net cash used in operating activities

$        58,617

$   (164,119)

Cash flows from investing activities:

Acquisition of equipment and leasehold improvements

(85,557)

(18,426)

Proceeds from the sale of fixed assets

                  - 

         15,000 

Net cash used in investing activities

       (85,557)

         (3,426)

Cash flows from financing activities:

Proceeds of shareholder loans

97,736 

69,019 

Bank borrowing and other notes

- 

90,000 

Principal repayments on bank and other notes

- 

(16,047)

Proceeds from settlement of lawsuits

- 

18,160 

Stock subscriptions received

- 

1,232  

Dividends paid to common shareholders

        (55,567)

                  -  

Net cash provided by financing activities

          42,169 

      162,364  

Net increase (decrease) in cash

15,229

(5,181)

Cash, beginning of period

                  - 

           2,682 

Cash, end of period

$       15,229

$       (2,499)

Supplemental disclosure of cash flow information:

Cash paid during the year for:

Income taxes

$               -  

$               -  

Interest

$               -  

$               -  

Non-cash financing activities:

Equipment acquired under capital leases

$     24,943  

$               -   

See accompanying notes to condensed consolidated financial statements.

StarCom Wireless Networks, Inc.
Formerly known as Basic Technologies, Inc.
Notes to Condensed Financial Statements
(Unaudited)

Note 1: Basis of presentation

The financial statements presented herein have been prepared by the Company in accordance with the accounting policies in its Form 10-KSB dated June 30, 2002, and should be read in conjunction with the notes thereto.

In the opinion of management, all adjustments (consisting only of normal recurring adjustments) which are necessary to provide a fair presentation of operating results for the interim period presented have been made. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the year.

Financial data presented herein are unaudited.

Note 2: Income taxes

The Company records its income taxes in accordance with SFAS No. 109, "Accounting for Income Taxes." The Company incurred net operating losses during the nine months ended March 31, 2003 resulting in a deferred tax asset, which was fully allowed for; therefore, the net benefit and expense resulted in $-0- income taxes. 

ITEM 2:

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

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The following discussion and analysis covers material changes in the financial condition of StarCom Wireless Networks, Inc., formerly known as Basic Technologies, Inc. ("Company" or "us") since June 30, 2002 and material changes in our results of operations for the nine months ended March 31, 2003, as compared to the same period in 2001. This discussion and analysis should be read in conjunction with "Management's Discussion and Analysis" included in the Company's Annual Report on Form 10-KSB for the year ended June 30, 2002, including audited financial statements contained therein, as filed with the Securities and Exchange Commission.
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Special note regarding forward-looking statements

This report contains forward-looking statements within the meaning of federal securities laws. These statements plan for or anticipate the future. Forward-looking statements include statements about our future business plans and strategies, statements about our need for working capital, future revenues, results of operations and most other statements that are not historical in nature. In this Report, forward-looking statements are generally identified by the words "intend", "plan", "believe", "expect", "estimate", and the like. Investors are cautioned not to put undue reliance on forward-looking statements. Except as otherwise required by applicable securities statues or regulations, the Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise. Because forward-looking statements involve future risks and uncertainties, these are factors that could cause actual results to differ materially from those expressed or implied.

Results of Operations

Nine Months Ended March 31, 2003 Versus Nine Months Ended March 31, 2002

We incurred a net loss of $246,547 for the nine months ended March 31, 2003, as compared to a net loss of $452,560 for the nine months ended March 31, 2002 primarily due to the reorganization of our business to an Internet Services Provider. In the year earlier period, we provided remediation services, oil field services and high speed internet access.

Sales revenue increased approximately 33%, from $241,072 for the nine months ended March 31, 2002, to $320,769 for the nine months ended March 31, 2003 primarily due to the reorganization of our business.

General and administrative expenses decreased approximately 57%, from $873,949 for the nine months ended March 31, 2002, to $378,565 for the nine months ended March 31, 2003 due to office staff reductions and our reorganization.

Interest income decreased from $3,229 during the nine months ended March 31, 2002 to $-0- for the nine months ended March 31, 2003 because we have disposed of our interest bearing investments.

Financial Condition and Liquidity

The source of our liquidity is from sales revenue and cash injections from interested shareholders. We have current assets of $60,292 compared with current liabilities of $312,190 as of March 31, 2003.

Our strategy in the near future is to focus on providing service to existing customers. We believe that our future success will be the result of increasing our market share by increasing our marketing budget and continuing to provide quality service.

ITEM 3.    CONTROLS AND PROCEDURES

Gary Brown, Chief Executive Officer and Chief Financial Officer of StarCom Wireless Networks, Inc. has established and is currently maintaining disclosure controls and procedures for the Company. The disclosure controls and procedures have been designed to ensure that material information relating to the Company is made known to them as soon as it is known by others within the Company.

Our Chief Executive Officer and Chief Financial Officer conducts an update and a review and evaluation of the effectiveness of the Company's disclosure controls and procedures and have concluded, based on their evaluation within 90 days of the filing of this Report, that our disclosure controls and procedures are effective for gathering, analyzing and disclosing the information we are required to disclose in our reports filed under the Securities Exchange Act of 1934. There have been no significant changes in our internal controls or in other factors that could significantly affect these controls subsequent to the date of the previously mentioned evaluation.

PART 2.      OTHER INFORMATION

Item 1 - Legal Information:

Item 2 - Changes in Securities:

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On May 1, 2003, the Company issued 22,601,644 shares of common stock in exchange for $201,016 in services and cash advances. The shares were issued to our officers, directors and advisors, a total of 7 persons, all of whom qualified as "accredited investors" within the meaning of Rule 501(a) of Regulation D under the Securities Act. The securities, which were taken for investment and subject to appropriate transfer restrictions, were issued without registration under the Securities Act pursuant to the exemptions set forth in Section 4(2) of the Securities Act and Rule 506 of Regulation D thereunder. 

Effective May 7, 2003, the Company completed a reverse stock split of its common stock by a ratio of one-for-seven (1-for-7). Giving effect to the reverse split, the number of common shares outstanding as of this date is 7,142,967.
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Item 3 - Defaults Upon Senior Securities:

         No response required.

Item 4 - Submission of Matters to a Vote of Security Holders:

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         At the Company's annual meeting of shareholders on May 13, 2003, the following matters were approved by our shareholders:
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1.

The following individuals were elected as directors of the Company: Gary L. Brown, Robert D. Francis, Tim White and Stephen L. Rogers were elected as directors. There were 23,650,889 shares voting in favor, 0 against, and 1,765 shares abstaining.
 

2.

The selection of Cordovano & Harvey, P.C. as auditors of the Company was ratified. There were 23,619,154 shares voting in favor of the ratification and 33,500 shares abstaining.
 

3.

The 2003 Equity Incentive Plan was approved, with 22,583,955 shares voting in favor of the approval, 7,765 shares against, and 500 shares abstaining.
 

4.

The reverse split of the outstanding securities of the Company was approved, with 23,641,639 shares voting in favor of the reverse split, 10,515 shares against, and 500 shares abstaining.
 

5.

The redomestication of the Company as a Delaware corporation was approved by a vote of 23,589,455 shares voting for redomestication, 2,265 shares against, and 500 votes abstaining.
 

6.

A change of the Company's name was approved by a vote of 23,650,389 shares voting in favor of a name change, 1,765 shares against, and 500 votes abstaining.

Item 5 - Other information:

         No response required.

Item 6 - Exhibits and Reports on Form 8-K
 

(a)

Exhibits:

    
   

Exhibit No.

Description
   

99.1:

Certification

 

(b)

Reports on Form 8-K:
   

On May 7, 2003, the Company filed a Form 8-K, Current Report announcing its redomestication to a corporation formed and organized under the laws of the state of Delaware; and its name change to "StarCom Wireless Networks, Inc."

SIGNATURES

The financial information furnished herein has not been audited by an independent accountant; however, in the opinion of management, all adjustments (only consisting of normal recurring accruals) necessary for a fair presentation of the results of operations for the nine months ended March 31, 2003 have been included.

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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STARCOM WIRELESS NETWORKS, INC. formerly known as BASIC TECHNOLOGIES, INC.
(Registrant)

Date:    May 21, 2003    



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By:  /s/ Gary L. Brown                           
     Gary L. Brown, President , Chief
     Executive Officer and Chief Financial
     Officer

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

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In connection with the Quarterly Report of StarCom Wireless Networks, Inc., formerly known as Basic Technologies, Inc. (the "Company") on Form 10-QSB/A for the period ending March 31, 2003, as filed with the Securities and Exchange Commission on the date hereof (the "Report'), I, Gary L. Brown, President, Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:
 

(1)

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
 

(2)

The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

/s/ Gary L. Brown                
Gary L. Brown, President,
Chief Executive Officer and
and Chief Financial Officer
May 21, 2003
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