UNITED STATES
                         SECURITIES 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 - September 17, 2003

                             Commission file number:
                                     0-22923


                           INTERNATIONAL ISOTOPES INC.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


                  Texas                         74-2763837
         ------------------------   -----------------------------------
         (State of incorporation)   IRS Employer Identification Number)


            4137 Commerce Circle, Idaho Falls, Idaho        83401
            ----------------------------------------      ----------
            (Address of principal executive offices)      (Zip Code)


                                 (208) 524-5300
              ----------------------------------------------------
              (Registrant's telephone number, including area code)







Item 5.  Other events.

         The Company  completed on September 12, 2003 its  previously  announced
rights  offering  to  existing   shareholders.   Total  subscriptions  and  over
subscriptions  equaled $1,312,514,  resulting in a new cash infusion of $405,677
and a conversion of $906,806 of debt into equity by certain shareholders who had
previously  loaned  funds to the  Company.  For  further  details  see the press
release attached hereto as Exhibit 99.1.


Item 7.  Exhibits.

         99.1     Press Release Re:  Completion of Rights Offering









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                                   SIGNATURES

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.


                                       International Isotopes Inc.
                                       (Registrant)



                                       By: /s/ Steve T. Laflin
                                           -------------------------------------
                                           Steve T. Laflin
                                           President and Chief Executive Officer
Date:  September 17, 2003




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