U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)

[X]               QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                     For the period ended September 30, 2003

[ ]              TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____________________ to _______________________.



                        Commission File Number 000-25253


                             SUMMIT LIFE CORPORATION
                             -----------------------
             (Exact name of registrant as specified in its charter)

           OKLAHOMA                                      73-1448244
           --------                                      ----------
(State or other jurisdiction of             (I.R.S. Employer identification No.)
 incorporation or organization)

         3021 Epperly Dr., P.O. Box 15808, Oklahoma City, Oklahoma 73155
         ---------------------------------------------------------------
                    (Address of principal executive offices)


                                 (405) 677-0781
                           (Issuer's telephone number)




Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the Securities Exchange Act of 1934 during the past 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
                                    ---        ---

The number of shares  outstanding of the Issuer's Common Stock,  $.01 par value,
as of November 14, 2003 was 2,691,305.

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



                                   FORM 10-QSB

                                TABLE OF CONTENTS

                                                                            Page

PART I.      FINANCIAL INFORMATION

     Item 1. Financial Statements

             Consolidated Balance Sheets - September 30, 2003 (unaudited) and
             December 31, 2002..............................................   3

             Consolidated Statements of Operation - Three months and nine
             months ended September 30, 2003 and 2002 (unaudited)...........   5

             Consolidated Statement of Stockholders' Equity - Nine months
             ended September 30, 2003 (unaudited)...........................   6

             Condensed Consolidated Statement of Cash Flows - Nine months
             ended September 30, 2003 and 2002 (unaudited)..................   7

             Notes to Consolidated Financial Statements.....................   8

     Item 2. Management's Discussion and Analysis or Plan of Operation......   9

PART II.     OTHER INFORMATION

     Item 3. Controls and Procedures........................................  12

     Item 5. Other Information..............................................  12

     Item 6. Exhibits and Reports on Form 8-K...............................  13

     Signatures.............................................................  14




















                                       2




                    Summit Life Corporation and Subsidiaries


                           Consolidated Balance Sheets

                                     ASSETS

                                                       September 30, 2003     December 31, 2002
                                                       ------------------    ------------------
                                                           (Unaudited)
                                                                       
INVESTMENTS
      Debt securities-held to maturity                 $             --      $          423,060
      Debt securities-available for sale                        1,365,950             1,113,919
      Equity securities-trading                                      --                  67,655
      Equity securities-available for sale                        209,900               159,740
      Equity securities-other                                        --                  79,275
      Mortgages                                                 1,189,483               622,383
      Notes receivable                                            425,580               426,331
      Short-term investments                                         --                    --
      Policy loans                                                119,934               113,020
      Investment in limited                                        32,404                32,404
      partnerships

                                                       ------------------    ------------------
                                                                3,343,251             3,037,787

CASH AND CASH EQUIVALENTS                                       1,347,587             2,109,388

RECEIVABLES
      Accrued investment income                                    63,810                41,689
      Other                                                        13,055                13,305
                                                       ------------------    ------------------
                                                                   76,865                54,994

PROPERTY AND EQUIPMENT-AT COST
      Building and improvements                                 1,017,140             1,017,140
      Furniture and equipment                                     120,848               120,848
      Automobiles                                                  22,015                22,015
                                                       ------------------    ------------------
                                                                1,160,003             1,160,003
             Less accumulated depreciation                       (202,428)             (153,738)
                                                       ------------------    ------------------
                                                                  957,575             1,006,265
      Land                                                        321,000               321,000
                                                       ------------------    ------------------
                                                                1,278,575             1,327,265
OTHER ASSETS
      Cost in excess of net assets of businesses
             acquired, less accumulated amortization               26,250                30,000
      Deferred policy acquisition costs                           153,160               145,960
      Value of purchased insurance business                       222,186               282,006
      Deferred income taxes                                          --                  31,800
      Other                                                       540,610                43,750
                                                       ------------------    ------------------
                                                                  942,206               533,516
                                                       ------------------    ------------------

                                                       $        6,988,484    $        7,062,950
                                                       ==================    ==================


The  accompanying  notes  are  an  integral  part  of  these  interim  financial
statements

                                       3




                    Summit Life Corporation and Subsidiaries


                           Consolidated Balance Sheets

                      LIABILITIES AND STOCKHOLDERS' EQUITY

                                                                September 30,     December 31,
                                                                     2003             2002
                                                                -------------    -------------
                                                                 (Unaudited)
                                                                           

LIABILITIES
      Policy reserves and policyholder funds                    $   5,855,886    $   5,777,027
      Unpaid claims                                                    16,000           10,000
      Accounts payable                                                 21,795            8,910
      Accrued liabilities                                               8,781            9,950
      Notes payable                                                   385,242          277,364
      Other liabilities                                                  --               --
                                                                -------------    -------------
                                                                    6,287,704        6,083,251


STOCKHOLDERS' EQUITY
      Common stock, $.01 par value, value-authorized,
        5,000,000; issued 2,691,305 at September 30, 2002              26,913           26,913
        and September 30, 2003
      Preferred stock, series A, $.001 par value- authorized,
        issued, and outstanding, 5,000 shares,
        stated at liquidation value                                   500,000          500,000
      Preferred stock, series B, $1.00 par value
        authorized, 1,000,000 shares;
        issued and outstanding, 350,000 shares,
        stated at liquidation value                                   350,000          350,000
      Additional paid-in capital                                    3,286,507        3,286,507
      Accumulated other comprehensive income (loss)
          Unrealized appreciation (depreciation) of available          48,759           41,727
          for sale securities
      Accumulated deficit                                          (3,511,399)      (3,225,448)
                                                                -------------    -------------
                                                                      700,780          979,699

                                                                -------------    -------------
                                                                $   6,988,484    $   7,062,950
                                                                =============    =============









The  accompanying  notes  are  an  integral  part  of  these  interim  financial
statements

                                       4




                    Summit Life Corporation and Subsidiaries
                      Consolidated Statements of Operation
                                   (Unaudited)

                                                                            Three Months Ended            Nine Months Ended
                                                                               September 30,                 September 30,
                                                                        --------------------------    --------------------------
                                                                            2003           2002           2003           2002
                                                                        -----------    -----------    -----------    -----------
                                                                                                         
Revenues
      Insurance premiums                                                $   114,690    $    24,284    $   242,820    $   248,688
      Reinsurance premium ceded                                             (13,427)       (20,106)       (27,654)       (19,918)
                                                                        -----------    -----------    -----------    -----------
          Net premium income                                                101,263        104,178        215,166        228,770
      Investment activity
          Investment income                                                  32,491         64,813        154,056        415,192
          Net realized gains on sale of available for sale securities        (1,242)          --           39,912          2,500
          Net loss on revaluation of held to maturity security                 --          (35,411)          --          (35,411)
          Net gain (loss) on trading securities                               1,299        (32,651)         1,741         (4,977)
      Other                                                                   5,338         15,107         11,472         46,316
                                                                        -----------    -----------    -----------    -----------
                                                                            139,149        116,036        422,347        652,390
Benefits, losses and expenses
      Policy benefits                                                        54,411         29,482        135,163        136,954
      Change in policy reserves                                              93,614         85,216        180,390        148,247
      Interest expense                                                         --               97          3,214            248
      Taxes, licenses and fees                                               (3,121)         5,719          5,975         14,499
      Depreciation and amortization                                          20,516         24,992         63,508         72,723
      General, administrative and other operating expenses                   64,751         87,942        263,247        249,459
                                                                        -----------    -----------    -----------    -----------
                                                                            230,171        233,448        651,497        622,130
                                                                        -----------    -----------    -----------    -----------
             Earnings (Loss)
               before income taxes                                          (91,022)      (117,412)      (229,150)        30,260
Income tax provision                                                         31,800           --           31,800           --
                                                                        -----------    -----------    -----------    -----------

                       NET EARNINGS (LOSS)                              $  (122,822)   $  (117,412)   $  (260,950)   $    30,260
Preferred Stock Dividend Requirement                                         12,500         12,500         37,500         37,500
                                                                                       -----------    -----------    -----------

             NET EARNINGS (LOSS) APPLICABLE
             TO COMMON SHARES                                           $  (135,322)   $  (129,912)   $  (298,450)   $    (7,240)
                                                                        ===========    ===========    ===========    ===========

Earnings (Loss) per common share -
               Basic and diluted
                                                                        $     (0.05)   $     (0.05)   $     (0.11)   $     (0.00)
                                                                        ===========    ===========    ===========    ===========

Weighted average outstanding common shares,
      basic and diluted                                                   2,691,305      2,691,305      2,691,305      2,678,226
                                                                        ===========    ===========    ===========    ===========




The  accompanying  notes  are  an  integral  part  of  these  interim  financial
statements

                                       5




                    Summit Life Corporation and Subsidiaries

                 Consolidated Statement of Stockholders' Equity

                      Nine Months Ended September 30, 2003
                                   (Unaudited)

                                                           Common Stock           Preferred Stock "A"         Preferred Stock "B"
                                                   --------------------------  -------------------------   -------------------------

                                                                                 Shares       Liquid-        Shares        Liquid-
                                                     Shares          Par          Out-         ation          Out-          ation
                                       Total         Issued         Value       standing       Value        standing        Value
                                    -----------    -----------   -----------   -----------   -----------   -----------   -----------
                                                                                                    
Balance at January 1, 2003          $   979,699      2,691,305   $    26,913         5,000   $   500,000       350,000   $   350,000

Dividends on preferred stock            (25,000)          --            --            --            --            --            --

Comprehensive income
   Net income (loss)                   (260,951)          --            --            --            --            --            --
   Other comprehensive inc. (loss)
   Unrealized gain on investments         7,032           --            --            --            --            --            --
   Comprehensive inc. (loss)           (253,919)          --            --            --            --            --            --
                                    -----------    -----------   -----------   -----------   -----------   -----------   -----------

Balance at September 30, 2003       $   700,780      2,691,305   $    26,913         5,000   $   500,000       350,000   $   350,000
                                    ===========    ===========   ===========   ===========   ===========   ===========   ===========

                                                     Other
                                    Additional    Comprehensive
                                      Paid-in        Income      Accumulated
                                      Capital        (Loss)        Deficit
                                    -----------    -----------   -----------

Balance at January 1, 2003          $ 3,286,507   $    41,727   $(3,225,448)

Dividends on preferred stock               --            --         (25,000)

Comprehensive income
   Net income (loss)                       --            --        (260,951)
   Other comprehensive inc. (loss)
   Unrealized gain on investments          --           7,032          --
   Comprehensive inc. (loss)               --            --            --
                                    -----------   -----------   -----------

Balance at September 30, 2003       $ 3,286,507   $    48,759   $(3,511,399)
                                    ===========   ===========   ===========










                                       6




                    Summit Life Corporation and Subsidiaries

                 Condensed Consolidated Statement of Cash Flows
                                   (Unaudited)

                                                               Nine Months Ended
                                                                 September 30,
                                                           --------------------------
                                                              2003           2002
                                                           -----------    -----------
                                                                    
Increase (Decrease) in Cash and Cash Equivalents

Net cash provided by (used in) operating activities        $    25,681    $   160,674

Net cash provided by (used in) investing activities           (369,087)       (87,997)

Net cash provided by (used in) financing activities           (418,395)       204,344

                                                           -----------    -----------
       NET INCREASE (DECREASE) IN CASH
          AND CASH EQUIVALENTS                                (761,801)       277,021

Cash and cash equivalents at the beginning of the period     2,109,388      1,661,410
                                                           -----------    -----------

Cash and cash equivalents at the end of the period         $ 1,347,587    $ 1,938,431
                                                           ===========    ===========




























The  accompanying  notes  are  an  integral  part  of  these  interim  financial
statements

                                       7


Summit Life Corporation and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE A - BASIS OF PRESENTATION

The accompanying  unaudited consolidated financial statements have been prepared
in  accordance  with  generally  accepted  accounting   principles  for  interim
financial information.  Accordingly,  they do not include all of the information
and footnotes required by generally accepted accounting  principles for complete
financial statements. In the opinion of management,  all adjustments (consisting
of normal recurring accruals)  considered necessary for a fair presentation have
been included.  Operating  results for the  three-month  and nine-month  periods
ended September 30, 2003 are not necessarily  indicative of the results that may
be expected for the year ended December 31, 2003. For further information, refer
to the consolidated  annual financial  statements and footnotes  thereto for the
year ended December 31, 2002.



























                                       8


Item 2.  Management's Discussion and Analysis or Plan of Operation.

         This Report includes "forward-looking statements" within the meaning of
Section 27A of the  Securities Act of 1933, as amended (the  "Securities  Act"),
and  Section  21E of the  Securities  Exchange  Act of  1934,  as  amended.  All
statements  other than  statements of historical  facts included in this Report,
including,  without  limitation,   statements  regarding  the  Company's  future
financial position,  business strategy,  budgets,  projected costs and plans and
objectives of Management for future operations, are forward-looking  statements.
In addition,  forward-looking  statements generally can be identified by the use
of  forward-looking  terminology  such as  "may,"  "will,"  "expect,"  "intend,"
"estimate,"  "anticipate"  or "believe" or the  negative  thereof or  variations
thereon  or  similar  terminology.   Although  the  Company  believes  that  the
expectations reflected in such forward-looking statements are reasonable, it can
give no assurance that such expectations  will prove to have been correct.  Such
statements are based upon numerous assumptions about future conditions which may
ultimately  prove to be inaccurate  and actual events and results may materially
differ from anticipated results described in such statements.  Important factors
that  could  cause  actual  results  to  differ  materially  from the  Company's
expectations  ("cautionary  statements") include the risks inherent generally in
the insurance industry, the impact of competition and product pricing,  changing
market  conditions,  the risks disclosed in the Company's  Annual Report on Form
10-KSB  for the  Year  Ended  December  31,  2002  under  "ITEM  6--MANAGEMENT'S
DISCUSSION AND ANALYSIS OR PLAN OF OPERATION," as well as the risks disclosed in
this  Report.  All  subsequent  written  and  oral  forward-looking   statements
attributable  to the Company,  or persons  acting on its behalf,  are  expressly
qualified in their entirety by these cautionary statements.  The Company assumes
no duty to update or revise its  forward-looking  statements based on changes in
internal  estimates or  expectations  or otherwise.  As a result,  the reader is
cautioned not to place reliance on these forward-looking statements.

General

         The Company's primary focus is its life insurance operations.

Results of Operations

         Three Months Ended  September  30, 2003  Compared to Three Months ended
         September 30, 2002

         Revenue. Total revenues increased 20% from $116,036 to $139,149 for the
three months ended  September  30, 2002 and  September  30, 2003,  respectively.
Revenues  attributable  to life  insurance  decreased  slightly from $104,178 to
$101,263  for the three months ended  September  30, 2003,  compared to the same
period  ended  September  30,  2002.  The  decrease  was due  primarily to agent
contests sponsored by the Company during 2002.

         Investment  income  decreased  from  $64,813 for the three months ended
September  30, 2002 to $32,491 for the three  months ended  September  30, 2003,
primarily as a result of historically low interest rates.

         The  Company  reported  net  losses on the sale of  available  for sale
securities  of $1,242 for the three months ended  September 30, 2003 compared to
$0 for the three months  ended  September  30, 2002.  The Company had no loss on
revaluation of securities for the period  compared to a loss of $35,411 that was
recorded  for the three months ended  September  30, 2002.  Net gains on trading
securities  of $1,299 for the three months ended  September 30, 2003 compared to
net losses on trading securities of $32,651 for the three months ended September
30, 2002. The Company began trading securities in the fourth quarter of 2000 and
is required to report  unrealized  gains and losses in operations.  The realized
gain or loss for each trading  security may differ  materially  depending on the
date of sale, the underlying  performance of the  represented  company and other
market conditions.


                                       9


         Other  income  decreased  from  $15,107  for  the  three  months  ended
September 30, 2002 to $5,338 for the three months ended  September 30, 2003. The
decrease  was due to the  discontinuation  of a  contract  whereby  the  Company
performed administrative services for another company.

         Costs and Expenses.  Total expenses decreased slightly from $233,448 to
$230,171 for the three months ended  September 30, 2002 and 2003,  respectively.
The  decrease  was  attributable  to the recovery of tax refunds due to Security
General Life Insurance Company.

         Policy  benefits  were  $54,411 and $29,482 for the three  months ended
September 30, 2003 and 2002, respectively. Policy reserves increased $8,398 from
the  comparable  three-month  period  in  2002.  Depreciation  and  amortization
decreased from $24,992 to $20,516 for the three months ended  September 30, 2002
and 2003,  respectively,  as the  Company  continued  to  amortize  the block of
business  acquired with Great Midwest Life Insurance  Company.  General expenses
decreased  26%  from  $87,942  to  $64,751  for the  comparable  periods  due to
reduction of salary expenses.

         Income/Loss. The Company reported a net loss for the three months ended
September  30, 2003 of  $122,822,  compared  to a net loss for the three  months
ended  September 30, 2002 of $117,412.  Although  revenues for the quarter ended
September  30, 2003 were higher than the  comparable  2002  period,  the Company
wrote off the  deferred  tax asset of  $31,800  in the  third  quarter  of 2003,
resulting  in a higher net loss.  The  Company  reported a net loss per share of
$0.05 per share for the three months ended  September 30, 2003,  unchanged  from
the comparable period in 2002.

         Nine Months  Ended  September  30, 2003  Compared to Nine Months  ended
         September 30, 2002

         Revenue.  Total  revenues  decreased  from $652,390 to $422,347 for the
nine months ended  September  30, 2002 and  September  30,  2003,  respectively.
Revenues  attributable to life insurance decreased from $228,770 to $215,166 for
the nine months  ended  September  30,  2003,  compared to the same period ended
September  30,  2002.  The  decrease  in  premium  income was due  primarily  to
recoveries made on reinsurance contracts during 2002 relating to the acquisition
of Presidential Life Insurance Company.

         Investment  income  decreased  from  $415,192 for the nine months ended
September  30, 2002 to $154,056  for the nine months ended  September  30, 2003,
primarily as a result of the sale of a  communications  tower lease for $211,000
in 2002, as well as historically low interest rates.

         The  Company  reported  net  gains  on the sale of  available  for sale
securities  of $39,912 for the nine months ended  September 30, 2003 compared to
$2,500 for the nine months ended  September 30, 2002. The Company had no loss on
revaluation of securities for the period  compared to a loss of $35,411 that was
recorded for the nine months  ended  September  30,  2002.  Net gains on trading
securities  of $1,741 were  reported  for the period  ended  September  30, 2003
compared  to  losses  on  trading  securities  of $4,977  for the  period  ended
September 30, 2002.  The Company began trading  securities in the fourth quarter
of 2000 and is required to report unrealized gains and losses in operations. The
realized gain or loss for each trading security may differ materially  depending
on the date of sale, the underlying  performance of the represented  company and
other market conditions.

         Other income decreased from $46,316 for the nine months ended September
30, 2002 to $11,472 for the nine months ended  September 30, 2003.  The decrease
was due to the  discontinuation  of a contract  whereby  the  Company  performed
administrative services for another company.

         Costs and Expenses.  Total expenses increased from $622,130 to $651,497
for the nine  months  ended  September  30,  2002 and  2003,  respectively.  The
increase was attributable to general expenses associated with the acquisition of
Security General Life Insurance Company.


                                       10


         Policy  benefits  decreased  slightly from $136,954 to $135,163 for the
comparable  periods.  Policy  reserves  increased  $32,143  for  the  comparable
periods. Depreciation and amortization decreased from $72,723 to $63,508 for the
nine months  ended  September  30, 2002 and 2003,  respectively,  as the Company
continued to amortize  the block of business  acquired  with Great  Midwest Life
Insurance Company.  General expenses increased from $249,459 to $263,247 for the
comparable  periods due to costs  associated  with the  acquisition  of Security
General Life Insurance Company.

         Net  Gain/Loss.  The  Company  reported a net loss for the nine  months
ended September 30, 2003 of $260,950, compared to a net gain for the nine months
ended September 30, 2002 of $30,260.  The Company  reported a net loss per share
of $0.11 per share for the nine months ended  September 30, 2003,  compared to a
net loss of less than $0.01 per share for the nine months  ended  September  30,
2002.

Liquidity and Capital Resources

         Total stockholders' equity was $700,780 at September 30, 2003, compared
to $979,699 at December 31, 2002, a decrease of approximately  28%. The decrease
was  attributable  to the Company's  operating  losses for the nine months ended
September 30, 2003.

         A primary  liquidity  concern is the risk of an extraordinary  level of
early policyholder  withdrawals,  as the principal requirements for liquidity in
connection  with the Company's  operations  are its  contractual  obligations to
policyholders  and annuitants.  The Company's  contractual  obligations  include
payments of surrender benefits,  contract  withdrawals,  policy loans and claims
under  outstanding  insurance  policies  and  annuities.  Payment  of  surrender
benefits is a function of "persistency,"  which is the extent to which insurance
policies are maintained by the policyholder.  Policyholders sometimes do not pay
premiums,  thus causing their policies to lapse, or policyholders  may choose to
surrender their policies for their cash surrender value. If actual experience of
a policy or block of policies is different from the initial or acquisition  date
assumptions,  a gain  or loss  could  result.  Depending  on the  nature  of the
underlying  policy,  a lapse or surrender may result in surrender charge revenue
or surrender  benefit  expense.  Such amounts may be less than, or greater than,
unamortized   acquisition   expenses   and/or  the  related   policy   reserves;
accordingly,   current  period   earnings  may  either   increase  or  decrease.
Additionally,  policy lapses and surrenders  may result in lost future  revenues
and profits associated with those policies that are lapsed or surrendered.

         The Company's wholly owned subsidiary,  Security General Life Insurance
Company,  operates in 35 states,  all of which have minimum  capital and surplus
requirements  for  insurance  companies.  At September  30, 2003,  the Company's
subsidiary met the capital and surplus  requirements  for all states in which it
does business.  However, continuing losses could force the Company to contribute
additional  capital to its subsidiary,  or,  alternatively,  cease operations in
states in which it no longer met the minimum capital and surplus requirements.

         The Company  currently  funds most of its activity  directly  from cash
flow from  operations and cash flow from  investment  and financing  activities,
which  includes  deposits  to  policyholders'   account  balances.  The  Company
currently  expects  available  liquidity  sources  and  future  cash flows to be
adequate to meet the demand for funds.

         On March 31, 2001, a principal  shareholder and director of the Company
entered  into an  agreement  with the  Company to provide  the  Company  with an
unsecured  revolving  line of credit in the  aggregate  amount of $500,000  (the
"Revolving  Line of  Credit").  The  Revolving  Line of Credit,  which  bears no
interest, is due and payable upon demand by the creditor.  The Revolving Line of
Credit  replaced  the  Company's  bank line of  credit,  which was repaid in its
entirety with  borrowings  under the Revolving Line of Credit,  and has been and
will be utilized as necessary to fund the Company's  operations if other sources
of funding are not  available.  As of September  30, 2003,  the Company has been
advanced approximately $363,000 under the Revolving Line of Credit.


                                       11


         The Company has made and intends to make  substantial  expenditures  in
connection   with  its   subsidiary's   acquisition   and  marketing   programs.
Historically, the Company has funded these expenditures from existing cash flow.

         On  August  15,  2003,  the  board  of  directors  and the  controlling
stockholders of the Company approved a proposal to effect a one-for-100  reverse
stock split of the Company's common stock.  Because the holders of a majority of
the outstanding common stock of the Company voted by written consent in favor of
such action,  no further action by the Company's  stockholders is required,  and
the reverse stock split will be effected approximately 20 days after the mailing
of a  definitive  information  statement  to the  holders of its common  shares,
describing the action to be taken. As of the date of this report, the definitive
information statement had not yet been mailed or otherwise distributed,  pending
review of the  preliminary  information  statement filed with the Securities and
Exchange  Commission.  If the reverse stock split is  consummated  in accordance
with the terms described in the preliminary  information  statement,  holders of
the  Company's  outstanding  common stock will receive one share of common stock
for each 100 shares held by them  immediately  prior to the reverse  stock split
and will  receive  cash in lieu of any  fractional  shares to which  they  would
otherwise be entitled. The cash payment for such fractional shares will be equal
to $.50 per pre-split  share. The Company expects to pay  approximately  $14,207
for fractional shares in connection with the reverse stock split.  Additionally,
the Company  will pay all of the  expenses  related to the reverse  stock split,
estimated to be $20,000. Funds required to implement the reverse stock split are
expected to be derived from existing cash flow.

         The Company believes that the liquidity resulting from the transactions
described  above,  together with  anticipated  cash from continuing  operations,
should be sufficient to fund its  operations  and the annual 10% dividend on the
Series A Preferred Stock, for at least the next 12 months.  The Company may not,
however, generate sufficient cash flow for these purposes. The Company's ability
to fund its  operations  will  depend on its  future  performance,  which,  to a
certain  extent,  is  subject  to  general  economic,  financial,   competitive,
legislative, regulatory and other factors that are beyond its control.

PART II.  OTHER INFORMATION

Item 3.  Controls and Procedures

         The Company's  principal  executive  officers and  principal  financial
officers have concluded,  based on their  evaluation as of a date within 90 days
of the filing of this Form 10-QSB,  that its disclosure  controls and procedures
(as defined in Rules  13a-14 and 15d-14  under the  Securities  Exchange  Act of
1934) are effective. There have been no significant changes in internal controls
or in other factors that could significantly affect these controls subsequent to
the date of their  evaluation,  including any corrective  actions with regard to
significant deficiencies and material weaknesses.

Item 5.  Other Information

         The Company  intends to terminate the  registration of its common stock
under the Section 12(g) of the Securities  Exchange Act of 1934, by reducing the
number of its stockholders  below 500. The Company intends to accomplish this by
effecting a one-for-100  reverse stock split, and  "cashing-out"  the holders of
fractional  shares  resulting from the reverse split. If the reverse stock split
is  consummated  in  accordance  with the  terms  described  in the  preliminary
information  statement,  holders of the Company's  outstanding common stock will
receive one share of common  stock for each 100 shares held by them  immediately
prior to the reverse  stock split and will  receive,  in lieu of any  fractional
shares to which  they would  otherwise  be  entitled,  a cash  payment  for such
fractional shares equal to $.50 per pre-split share.

         Because the holders of a majority of the  outstanding  common  stock of
the Company voted by written consent in favor of such action,  no further action
by the Company's  stockholders is required,  and the reverse stock split will be
effected  approximately  20 days after the mailing of a  definitive  information
statement  to the  holders of its  common  shares,  describing  the action to be
taken. As of the date of this report, the definitive  information  statement had
not yet been mailed or otherwise distributed,  pending review of the preliminary
information statement filed with the Securities and Exchange Commission.


                                       12


Item 6.  Exhibits and Reports on Form 8-K

         (a)      Exhibits

    Exhibit
    Number                         Name of Exhibit
    -------                        ---------------

     3.1          First Amended and Restated Certificate of Incorporation (filed
                  as Exhibit 3.1 to the Company's Registration Statement on Form
                  SB-2,  file  number  333-65097  and  incorporated   herein  by
                  reference).

     3.2          First Amended and Restated Bylaws (filed as Exhibit 3.2 to the
                  Company's  Registration  Statement  on Form SB-2,  file number
                  333-65097 and incorporated herein by reference).

     4.1          Specimen Certificate of the common stock (filed as Exhibit 4.1
                  to the  Company's  Registration  Statement on Form SB-2,  file
                  number 333-65097 and incorporated herein by reference).

     4.2          See  Articles  V  and  X  of  the  Company's   Certificate  of
                  Incorporation and Article VI of the Company's Bylaws (filed as
                  Exhibit 4.2 to the  Company's  Registration  Statement on Form
                  SB-2,  file  number  333-65097  and  incorporated   herein  by
                  reference).

     4.3          Specimen Certificate of the Series A Preferred Stock (filed as
                  Exhibit 4.1 to the Company's  Quarterly  Report on Form 10-QSB
                  for the Quarter ended June 30, 1999 and incorporated herein by
                  reference).

     4.4          Certificate of Designation of Series A Preferred  Stock (filed
                  as  Exhibit  4.2 to the  Company's  Quarterly  Report  on Form
                  10-QSB for the Quarter  ended June 30,  1999 and  incorporated
                  herein by reference).

     4.5          Certificate of  Designation of Series B Convertible  Preferred
                  Stock (filed as Exhibit 4.1 to the Company's  Quarterly Report
                  on Form 10-QSB for the Quarter  ended  September  30, 2000 and
                  incorporated herein by reference).

    31.1*         Certification of Chief Financial  Officer under Section 302 of
                  the Sarbanes-Oxley Act of 2002.

    31.2*         Certification of Chief Accounting Officer under Section 302 of
                  the Sarbanes-Oxley Act of 2002.

    31.3*         Certification of Chief Executive  Officer under Section 302 of
                  the Sarbanes-Oxley Act of 2002.

    32.1*         Certification of Periodic  Financial Report by Chief Financial
                  Officer Pursuant to 18 U.S.C.ss. 1350.

    32.2*         Certification of Periodic  Financial Report by Chief Executive
                  Officer Pursuant to 18 U.S.C.ss. 1350.

    32.3*         Certification of Periodic Financial Report by Chief Accounting
                  Officer Pursuant to 18 U.S.C.ss. 1350.

        *         Filed herewith.

         (b)      Reports on Form 8-K: none.



                                       13


                                   SIGNATURES


         In accordance with the  requirements of the Securities  Exchange Act of
1934,  the  registrant  caused  this  report to be  signed on its  behalf by the
undersigned, thereunto duly authorized.


                                           SUMMIT LIFE CORPORATION
                                           an Oklahoma corporation



Date:  November 14, 2003                   /s/Charles L. Smith
                                           -------------------------------------
                                           Charles L. Smith
                                           President and Chief Operating Officer



Date:  November 14, 2003                   /s/Quinton L. Hiebert
                                           -------------------------------------
                                               Quinton L. Hiebert
                                           Chief Accounting Officer


























                                       14


                               INDEX TO EXHIBITS

    Exhibit
    Number                      Name of Exhibit
    -------                     ---------------

     3.1          First Amended and Restated Certificate of Incorporation (filed
                  as Exhibit 3.1 to the Company's Registration Statement on Form
                  SB-2,  file  number  333-65097  and  incorporated   herein  by
                  reference).

     3.2          First Amended and Restated Bylaws (filed as Exhibit 3.2 to the
                  Company's  Registration  Statement  on Form SB-2,  file number
                  333-65097 and incorporated herein by reference).

     4.1          Specimen Certificate of the common stock (filed as Exhibit 4.1
                  to the  Company's  Registration  Statement on Form SB-2,  file
                  number 333-65097 and incorporated herein by reference).

     4.2          See  Articles  V  and  X  of  the  Company's   Certificate  of
                  Incorporation and Article VI of the Company's Bylaws (filed as
                  Exhibit 4.2 to the  Company's  Registration  Statement on Form
                  SB-2,  file  number  333-65097  and  incorporated   herein  by
                  reference).

     4.3          Specimen Certificate of the Series A Preferred Stock (filed as
                  Exhibit 4.1 to the Company's  Quarterly  Report on Form 10-QSB
                  for the Quarter ended June 30, 1999 and incorporated herein by
                  reference).

     4.4          Certificate of Designation of Series A Preferred  Stock (filed
                  as  Exhibit  4.2 to the  Company's  Quarterly  Report  on Form
                  10-QSB for the Quarter  ended June 30,  1999 and  incorporated
                  herein by reference).

     4.5          Certificate of  Designation of Series B Convertible  Preferred
                  Stock (filed as Exhibit 4.1 to the Company's  Quarterly Report
                  on Form 10-QSB for the Quarter  ended  September  30, 2000 and
                  incorporated herein by reference).

    31.1*         Certification of Chief Financial  Officer under Section 302 of
                  the Sarbanes-Oxley Act of 2002.

    31.2*         Certification of Chief Accounting Officer under Section 302 of
                  the Sarbanes-Oxley Act of 2002.

    31.3*         Certification of Chief Executive  Officer under Section 302 of
                  the Sarbanes-Oxley Act of 2002.

    32.1*         Certification of Periodic  Financial Report by Chief Financial
                  Officer Pursuant to 18 U.S.C.ss. 1350.

    32.2*         Certification of Periodic  Financial Report by Chief Executive
                  Officer Pursuant to 18 U.S.C.ss. 1350.

    32.3*         Certification of Periodic Financial Report by Chief Accounting
                  Officer Pursuant to 18 U.S.C.ss. 1350.

        *         Filed herewith.



                                       15