8-K

                                  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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EX-99

                                                                    EXHIBIT 99.1



                     I3 International Isotopes Inc



FOR IMMEDIATE RELEASE:                        For More Information, Contact:
September 15, 2003                            Steve Laflin, President and CEO
                                              (208) 524-5300


                      INTERNATIONAL ISOTOPES INC. ANNOUNCES
            SUCCESSFUL COMPLETION OF ITS SHAREHOLDER RIGHTS OFFERING


Idaho Falls, ID.  September 15, 2003 - International  Isotopes Inc. (Pink sheets
INIS) announces the successful  conclusion of its shareholder  rights  offering.
The total shareholder  subscription and over subscriptions  equaled  $1,312,514,
including a debt to equity conversion of $906,806.

International  Isotopes Inc. has  successfully  completed its rights offering to
shareholders  on September 12, 2003. The Securities and Exchange  Commission had
declared the  registration  statement for the rights offering  effective on July
28, 2003,  and the Company had commenced the offering on August 12, 2003.  Under
the offering the Company  offered  38,229,157  Units (each Unit included (i) one
share of common  stock,  (ii) one  warrant to purchase  another  share of common
stock for $.04, and (iii) one warrant to purchase an additional  share of common
stock for $.05) to its  shareholders.  Shareholders  received one Right for each
share owned and  shareholders  who fully subscribed were provided the additional
privilege of over subscribing for up to an additional 14,500,000 Units.

The total amount raised from the rights offer was $1,312,514,  which corresponds
to 100% of the basic shareholder  subscription and an additional 38% of the over
subscription  amount permitted under the offering.  Of the total amount received
by the Company,  $906,806 was subscribed through shareholder  conversion of debt
to equity and an  additional  $405,677 was provided as cash.  Under the terms of
the rights offering the Company will issue 43,750,467  shares of common stock to
participants bringing the total number outstanding to 139,232,360.  In addition,
the  participants  of the rights offer will  receive an aggregate of  43,750,467
Series A  warrants  and  43,750,467  Series  B  warrants,  which  can be used to
purchase additional shares of common stock for $0.04 and $0.05 respectively.

The  majority  of net  proceeds  from the  rights  offer will be  invested  into
equipment,  hardware,  and  facilities  in order to  further  expand  production
capability as evidenced by the  Company's  recent  announcement  of the start of
Lutetium-177 sales.  Company Chief Executive Officer Steve T. Laflin stated, "We
are very pleased with the level and amount of  participation of our shareholders
in the rights offering. I believe their strong  participation  reflects not only
the Company's  improved overall financial  position,  but also the shareholders'
growing optimism for the future success of this Company.  Laflin added, "I would
like to thank those  shareholders  for their  participation  and their continued
support of the Company."





About International Isotopes Inc.

International  Isotopes Inc. current operations include production or processing
of reactor  isotopes for various  medical or industrial  applications;  contract
manufacturing  of a full range of nuclear  medicine  calibration  and  reference
standards;  and processing  gemstone which has undergone  irradiation  for color
enhancement.

International Isotopes Inc Safe Harbor Statement

Statements in the press release may  constitute  forward-looking  statements and
are subject to numerous risks and  uncertainties,  including the ability to meet
time  schedules,  the need to  raise  additional  capital,  the  development  of
competitive products by others and other risks detailed from time to time in the
Company's  filings  with the  Securities  and Exchange  Commission.  The Company
disclaims any obligation to update statements in this press release.




                                      -END-






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