<HTML>
<HEAD>
<TITLE>Form 8-K for Medinex Systems, Inc.</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">

<P>==================================================================================</P>

<B><P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>

<P ALIGN="CENTER">Washington, D.C.  20549</P>



<P ALIGN="CENTER">FORM 8-K</P>

<P ALIGN="CENTER">CURRENT REPORT</P>
</B>

<B><P ALIGN="CENTER">Pursuant to Section 13 or 15(d) of the<br>
Securities Exchange Act of 1934</P>
</B>

<P ALIGN="CENTER">Date of Report<br>
<B>February 24, 2003</P>
</B>

<B><P ALIGN="CENTER">MEDINEX SYSTEMS, INC. <br>
</B>(Exact name of registrant as specified in its charter)</P>


<B><P ALIGN="CENTER">Delaware<br>
</B>(State or other jurisdiction of incorporation)</P>

</FONT>
<P ALIGN="CENTER"><CENTER><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH=444>
<TR><TD WIDTH="41%" VALIGN="TOP">
<P align=center><B>&#9;000-26337</B></FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<P></TD>
<TD WIDTH="45%" VALIGN="TOP">
<P ALIGN="CENTER"><B>82-0514605</B></FONT></TD>
</TR>
<TR><TD WIDTH="41%" VALIGN="TOP">
<P align=center>(Commission File No.)</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<P></TD>
<TD WIDTH="45%" VALIGN="TOP">
<P ALIGN="CENTER">(IRS Employer ID)</FONT></TD>
</TR>
</TABLE>
</CENTER></P>



<B><P ALIGN="CENTER">804 North Lincoln #2<br>
Post Falls, Idaho 83854<br>
</B>(Address of principal executive offices and Zip Code)</P>


<B><P ALIGN="CENTER">(208) 773-4865<br>
</B>(Registrant's telephone number, including area code)</P>



<P>==================================================================================</P>

<page>
<hr>

<B><P>ITEM 5.  Other Events and Regulation FD Disclosure</P>

</B><P>As previously reported, on November 27, 2002, Medinex Systems, Inc. (the "Company") filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the District of Idaho (the "Bankruptcy Court") (Case No. 02-21797 ).  The Company manages, and will continue to manage, its property and operate its business as a "debtor-in-possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code.</P>

<P>At a hearing held on February 19, 2003, the Bankruptcy Court considered and approved motions allowing for the continued use of cash collateral and the Debtor</FONT><FONT FACE="WP TypographicSymbols">=</FONT>s continued drawdowns of Post Petition Credit in light of the Disclosure Statement and Plan of Reorganization conditionally approved by an order signed by the Court on January 31, 2003.  Further, the Court issued an Order authorizing Medinex Systems, Inc., to market the sale of its assets as described in the Plan and Disclosure Statement; solicit offers for both the Phase I - Auction Sale of Assets - and Phase II - Auction of the publicly traded corporate entity; and, to commence publication and mailing of proposed sale of assets to prospective bidders and purchasers.  Pursuant to the Court</FONT><FONT FACE="WP TypographicSymbols">=</FONT>s Order, the hearing to consider the final approval of the Disclosure Statement is set for March 6, 2003, at 10:00 a.m.  </P>

<P>The following required monthly reports were submitted to the U.S. Trustee at the hearing:</P>
</FONT>
<P ALIGN="CENTER"><CENTER><TABLE BORDER=0 CELLSPACING=0 WIDTH=582>
<TR><TD VALIGN="TOP" COLSPAN=4>
<B><P ALIGN="CENTER">MEDINEX SYSTEMS, INC.<br>
U.S. TRUSTEE REPORT<br>
CASH BASIS PROFIT AND LOSS STATEMENT<br>
MONTH OF JANUARY 2003</B></FONT></TD>
</TR>
<TR><TD WIDTH="76%" VALIGN="TOP" COLSPAN=3>
<P>&#9;&#9;&#9;</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="CENTER">January 2003</FONT></TD>
</TR>
<TR><TD WIDTH="76%" VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="CENTER">(UNAUDITED)<hr></FONT></TD>
</TR>
<TR><TD WIDTH="76%" VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="69%" VALIGN="TOP">
<P>Revenues, net</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT">93,309</FONT></TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="69%" VALIGN="TOP">
<P>Total Cost of Revenue&#9;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT">57,625<hr></FONT></TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="69%" VALIGN="TOP">
<P>Gross Profit&#9;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT">35,684</FONT></TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="69%" VALIGN="TOP">
<P>Operating expenses:</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="69%" VALIGN="TOP">
<P>Payroll Expense</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT">42,534 </FONT></TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="69%" VALIGN="TOP">
<P>General and administrative</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT">8,658<hr></FONT></TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="69%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="69%" VALIGN="TOP">
<P>Total operating expenses - cash basis</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT">51,192<hr></FONT></TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="69%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="69%" VALIGN="TOP">
<P>Net Operating Income (Loss) - cash basis </FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT">(15,508)<hr size=3 noshade></FONT></TD>
</TR>
</TABLE>
</CENTER></P>

<p>&nbsp;</p>
<p>&nbsp;</p>
<p align=center> - 2 - </p>
<page>
<hr>

</FONT>
<P ALIGN="RIGHT"><CENTER><TABLE BORDER=0 CELLSPACING=0 WIDTH=606>
<TR><TD VALIGN="TOP" COLSPAN=7>
<B><P ALIGN="CENTER">MEDINEX SYSTEMS, INC.<br>
U.S. TRUSTEE REPORT<br>
BALANCE SHEET<br>
January 31, 2003</B></FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="CENTER">January 31, 2003</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="CENTER">(UNAUDITED)<hr></FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="79%" VALIGN="TOP" COLSPAN=5>
<P>ASSETS</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="74%" VALIGN="TOP" COLSPAN=4>
<P>Current Assets</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="70%" VALIGN="TOP" COLSPAN=3>
<P>Checking/Savings</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="70%" VALIGN="TOP" COLSPAN=3>
<P>Cash and cash equivalents</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">37,557</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="70%" VALIGN="TOP" COLSPAN=3>
<P>Restricted cash&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">53,224</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="65%" VALIGN="TOP" COLSPAN=2>
<P>Accounts Receivable&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">131,911</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="65%" VALIGN="TOP" COLSPAN=2>
<P>Allowance for Doubtful Accounts&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">(5,222)</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="65%" VALIGN="TOP" COLSPAN=2>
<P>Inventory- Recorders&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">6,839</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="65%" VALIGN="TOP" COLSPAN=2>
<P>Prepaid Expenses </FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">1,010<hr></FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="74%" VALIGN="TOP" COLSPAN=4>
<P>Total Current Assets&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">225,319</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="74%" VALIGN="TOP" COLSPAN=4>
<P>Property and equipment, net&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">30,587</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="74%" VALIGN="TOP" COLSPAN=4>
<P>Investments&#9;&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">3,498 </FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="74%" VALIGN="TOP" COLSPAN=4>
<P> Deposits</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">9,779<hr></FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="74%" VALIGN="TOP" COLSPAN=4>
<P>Total Assets&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">269,183<hr size=3 noshade></FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="79%" VALIGN="TOP" COLSPAN=5>
<P>LIABILITIES &amp; EQUITY</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="74%" VALIGN="TOP" COLSPAN=4>
<P>Current Liabilities</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P>Accounts Payable</FONT></TD>
<TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">34,848</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P> DIP Financing</FONT></TD>
<TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">53,500</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P>Accrued Expense</FONT></TD>
<TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">420</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P>Accrued Vacation</FONT></TD>
<TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">2,275</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P>Sales Tax - ID</FONT></TD>
<TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">64,655</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P>Sales Tax - DC</FONT></TD>
<TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">1,076<hr></FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="70%" VALIGN="TOP" COLSPAN=3>
<P>Total Current Liabilities&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">156,774 </FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="74%" VALIGN="TOP" COLSPAN=4>
<P>Long Term Liabilities</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="65%" VALIGN="TOP" COLSPAN=2>
<P>Pre-Petition L.T. Liabilities&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">3,127,609<hr></FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="70%" VALIGN="TOP" COLSPAN=3>
<P>Total Long Term Liabilities&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">3,127,609<hr></FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="74%" VALIGN="TOP" COLSPAN=4>
<P>Total Liabilities&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">3,284,383</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="74%" VALIGN="TOP" COLSPAN=4>
<P>Equity</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="70%" VALIGN="TOP" COLSPAN=3>
<P>Common Stock&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">213,288</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="70%" VALIGN="TOP" COLSPAN=3>
<P>Warrants&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">40,625</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="70%" VALIGN="TOP" COLSPAN=3>
<P>Additional Paid in Capital&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">44,735,039</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="70%" VALIGN="TOP" COLSPAN=3>
<P>Retained Earnings&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">(47,980,084)</FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="70%" VALIGN="TOP" COLSPAN=3>
<P>Net Income&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">(24,067)<hr></FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="74%" VALIGN="TOP" COLSPAN=4>
<P>Total Equity&#9;&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">(3,015,200)<hr></FONT></TD>
</TR>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="79%" VALIGN="TOP" COLSPAN=5>
<P>TOTAL LIABILITIES &amp; EQUITY&#9;&#9;&#9;&#9;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="RIGHT">269,183<hr size=3 noshade></FONT></TD>
</TR>
</CENTER>
</TABLE>
</P>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align=center> - 3 - </p>
<page>
<hr>

<B><P ALIGN="CENTER">SIGNATURE</P>
</B>
<P>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.</P>

<B><P>DATED</B>: February 24, 2003</P>
</FONT>
<DIR>
<DIR>
<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH=680>
<TR><TD WIDTH="36%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="64%" VALIGN="TOP">
<B><P>MEDINEX SYSTEMS, INC.</B></FONT></TD>
</TR>
<TR><TD WIDTH="36%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="64%" VALIGN="TOP">
<P>BY: /s/ Colin Christie</FONT></TD>
</TR>
<TR><TD WIDTH="36%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="64%" VALIGN="TOP">
<P>        Colin Christie, President and Chief Executive Officer</FONT></TD>
</TR>
</TABLE>
</DIR>
</DIR>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align=center> - 4 - </p>
<page>
<hr>
</FONT></BODY>
</HTML>
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Form 8-K for Medinex Systems, Inc.
==================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report
February 24, 2003
MEDINEX SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
000-26337
82-0514605
(Commission File No.)
(IRS Employer ID)
804 North Lincoln #2
Post Falls, Idaho 83854
(Address of principal executive offices and Zip Code)
(208) 773-4865
(Registrant's telephone number, including area code)
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ITEM 5.  Other Events and Regulation FD Disclosure
As previously reported, on November 27, 2002, Medinex Systems, Inc. (the "Company") filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the District of Idaho (the "Bankruptcy Court") (Case No. 02-21797 ).  The Company manages, and will continue to manage, its property and operate its business as a "debtor-in-possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code.
At a hearing held on February 19, 2003, the Bankruptcy Court considered and approved motions allowing for the continued use of cash collateral and the Debtor
=
s continued drawdowns of Post Petition Credit in light of the Disclosure Statement and Plan of Reorganization conditionally approved by an order signed by the Court on January 31, 2003.  Further, the Court issued an Order authorizing Medinex Systems, Inc., to market the sale of its assets as described in the Plan and Disclosure Statement; solicit offers for both the Phase I - Auction Sale of Assets - and Phase II - Auction of the publicly traded corporate entity; and, to commence publication and mailing of proposed sale of assets to prospective bidders and purchasers.  Pursuant to the Court
=
s Order, the hearing to consider the final approval of the Disclosure Statement is set for March 6, 2003, at 10:00 a.m.
The following required monthly reports were submitted to the U.S. Trustee at the hearing:
MEDINEX SYSTEMS, INC.
U.S. TRUSTEE REPORT
CASH BASIS PROFIT AND LOSS STATEMENT
MONTH OF JANUARY 2003
January 2003
(UNAUDITED)
Revenues, net
93,309
Total Cost of Revenue
57,625
Gross Profit
35,684
Operating expenses:
Payroll Expense
42,534
General and administrative
8,658
Total operating expenses - cash basis
51,192
Net Operating Income (Loss) - cash basis
(15,508)
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MEDINEX SYSTEMS, INC.
U.S. TRUSTEE REPORT
BALANCE SHEET
January 31, 2003
January 31, 2003
(UNAUDITED)
ASSETS
Current Assets
Checking/Savings
Cash and cash equivalents
37,557
Restricted cash
53,224
Accounts Receivable
131,911
Allowance for Doubtful Accounts
(5,222)
Inventory- Recorders
6,839
Prepaid Expenses
1,010
Total Current Assets
225,319
Property and equipment, net
30,587
Investments
3,498
Deposits
9,779
Total Assets
269,183
LIABILITIES & EQUITY
Current Liabilities
Accounts Payable
34,848
DIP Financing
53,500
Accrued Expense
420
Accrued Vacation
2,275
Sales Tax - ID
64,655
Sales Tax - DC
1,076
Total Current Liabilities
156,774
Long Term Liabilities
Pre-Petition L.T. Liabilities
3,127,609
Total Long Term Liabilities
3,127,609
Total Liabilities
3,284,383
Equity
Common Stock
213,288
Warrants
40,625
Additional Paid in Capital
44,735,039
Retained Earnings
(47,980,084)
Net Income
(24,067)
Total Equity
(3,015,200)
TOTAL LIABILITIES & EQUITY
269,183
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SIGNATURE
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.
DATED
: February 24, 2003
MEDINEX SYSTEMS, INC.
BY: /s/ Colin Christie
Colin Christie, President and Chief Executive Officer
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