-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 EmKUuh6D+iMURF9ROMiBghRF6nVmH23aGp+Vcxlql91ynzSAzHIuU2BaL8CSC/m1
 94f/EZliIlMAX5UEn2KhmA==

<SEC-DOCUMENT>0001116502-03-002225.txt : 20031120
<SEC-HEADER>0001116502-03-002225.hdr.sgml : 20031120
<ACCEPTANCE-DATETIME>20031120143950
ACCESSION NUMBER:		0001116502-03-002225
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20011031
FILED AS OF DATE:		20031120

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GUMERSELL JOHN M
		CENTRAL INDEX KEY:			0001158306

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25663
		FILM NUMBER:		031015320

	BUSINESS ADDRESS:	
		STREET 1:		3515 SE LIONEL TERRACE
		CITY:			STUART
		STATE:			FL
		ZIP:			34996

	MAIL ADDRESS:	
		STREET 1:		3515 SE LIONEL TERRACE
		CITY:			STUART
		STATE:			FL
		ZIP:			34996

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ULTRASTRIP SYSTEMS INC
		CENTRAL INDEX KEY:			0001071760
		STANDARD INDUSTRIAL CLASSIFICATION:	CONSTRUCTION, MINING & MATERIALS HANDLING MACHINERY & EQUIP [3530]
		IRS NUMBER:				650841549
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3515 S E LIONEL TERRACE
		CITY:			STUART
		STATE:			FL
		ZIP:			34996
		BUSINESS PHONE:		5612874846

	MAIL ADDRESS:	
		STREET 1:		3515 S E LIONEL TERRACE
		CITY:			STUART
		STATE:			FL
		ZIP:			34996
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>gumersell_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2001-10-31</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001071760</issuerCik>
        <issuerName>ULTRASTRIP SYSTEMS INC</issuerName>
        <issuerTradingSymbol>[NONE]</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001158306</rptOwnerCik>
            <rptOwnerName>GUMERSELL JOHN M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3515 SE LIONEL TERRACE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>STUART</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>34996</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common stock</value>
      </securityTitle>
      <transactionDate>
         <value>2001-10-31</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>50000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>3.00</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>70000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Employee Stock Options</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>5.00</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2001-12-20</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>50000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
            <footnoteId id="F1"/>
      </exerciseDate>
      <expirationDate>
         <value>2011-12-20</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>50000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>50000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> Options vest as follows: 33% on 12/20/2002, 33% on 12/20/2003 and 33% on 12/20/2004.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>John M. Gumersell</signatureName>
      <signatureDate>2003-10-29</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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