Form 10-K/A
                    Securities and Exchange Commission
                         Washington, DC 20549

   ANNUAL REPORT PURSUANT TO SECTON 13 OR 15 (d) OF THE SECURITIES
   EXCHANGE ACT OF 1934

   For the fiscal year ended    June 30, 2002
                              -----------------

                   Commission file number  0-17080

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

         New Jersey                                     22-2086851
   ---------------------------                     --------------------
   (State or other jurisdiction of                   (I.R.S. Employer
   incorporation or organization)                   Identification No.)

                   One Newbury Street, Peabody, MA 01960
                  ---------------------------------------
                  (Address of principal executive offices)
                                (Zip Code)

             (Registrant's telephone number, including area code)
                            (978) 535-3912
                            ---------------

   Securities registered pursuant to Section 12(b) of the Act: None
                                                               ----
   Securities registered pursuant to Section 12(g) of the Act:

                      Common Stock, no par value
                      --------------------------
                           (Title of Class)

   Indicate by check mark whether the Registrant (1) has filed all reports
   required to be filed by Section 13 or 15(d) of the Securities Exchange
   Act of 1934 during the preceding 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
           -----                 -----

   Indicate by check mark if disclosure of delinquent filers pursuant to Item
   405 of Regulation S-K is not contained herein, and will not be contained, to
   the best of registrant's knowledge, in definitive proxy or information
   statements incorporated by reference in Part III of this Form 10-K or any
   amendment to this Form 10-K.[X]






                                       1


State the aggregate market value of the voting stock held by non-affiliates of
the registrant.  The aggregate market value shall be computed by reference to
the price at which the stock was sold, or the average bid and asked prices of
such stock, as of a specified date within 60 days prior to the date of filing.
(See definition of affiliate in Rule 405.)

Based upon the latest sale price of the stock as of September 27, 2002, of
$0.51 per share, the aggregate market value, as of September 30, 2002 of
the shares of common stock held by non-affiliates was $1,642,534.  "Non-
affiliates" includes all share owners of the registrant other than its officers,
directors and owners of more than ten percent of its outstanding stock.

APPLICABLE ONLY TO CORPORATE REGISTRANTS:

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date:

9,643,718 shares of common stock, no par value, as of September 30, 2002

                             INTRODUCTORY NOTE

This amendment on Form 10-K/A is being filed to correct the Company's Statement
of Operations and Statement of Cash Flows for the year ended June 30, 2002.  The
corrections are being made because a line was omitted on each of these state-
ments in the original filing.  On the Statement of Operations, the line labeled
"Mineral exploration project expenses" was omitted, and on the Statement of Cash
Flows the line labeled "Subscriptions receivable" was omitted.  This filing does
not reflect any other changes.





























                                      2


                                  SIGNATURES


Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                                                   UNITRONIX CORPORATION


                                              BY:/s/William C. Wimer
                                                 -------------------
                                                    William C. Wimer
                                                    Chief Financial Officer and
                                                    Vice President, Operations


DATED: October 24, 2002
       ----------------






































                                    3


                             UNITRONIX CORPORATION
                             ---------------------
                              FINANCIAL STATEMENTS
                              --------------------
                          JUNE 30, 2002, 2001 AND 2000
                          ----------------------------






















































                             UNITRONIX CORPORATION
                             ---------------------
                               TABLE OF CONTENTS
                               -----------------



                                                                       Page(s)
                                                                       -------
Independent Auditors' Report                                                1

Consolidated Balance Sheets as of June 30, 2002 and 2001                    2

Consolidated Statements of Operations for the years ended
      June 30, 2002, 2001 and 2000                                          3

Consolidated Statements of Changes in Stockholders' Deficit
      for the years ended June 30, 2002, 2001 and 2000                      4

Consolidated Statements of Cash Flows for the years ended
      June 30, 2002, 2001 and 2000                                          5

Notes to Consolidated Financial Statements                               6-18

Schedule II - Valuation and Qualifying Accounts                            19



































                        INDEPENDENT AUDITORS' REPORT
                        ----------------------------

To the Board of Directors and Stockholders
Unitronix Corporation

In our opinion, the accompanying financial statements listed in the index
appearing under Item 14(a)(1) on page 17 present fairly, in all material
respects, the financial position of Unitronix Corporation at June 30, 2002,
and 2001, and the results of its operations and its cash flows for the
years ended June 30, 2002, 2001, and 2000, in conformity with generally accepted
accounting principles.  In addition, in our opinion, the financial statement
schedule listed in the index appearing under Item 14(a)(2) on page 17, presents
fairly, in all material respects, the information set forth therein when read in
conjunction with the related financial statements. These financial statements
and financial statement schedule are the responsibility of the Company's manage
-ment; our responsibility is to express an opinion on these financial statements
and financial statement schedule based on our audits.  We conducted our audits
of these statements in accordance with generally accepted auditing standards
which require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement.  An
audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements, assessing the accounting principles
used and significant estimates made by management, and evaluating the overall
financial statement presentation.  We believe that our audits provide a
reasonable basis for the opinion expressed above.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern.  As discussed in Note 1 to the
financial statements, the Company has suffered recurring losses from operations
and has a net capital deficiency that raise substantial doubt about its ability
to continue as a going concern.  Management's plans in regard to these matters
are also described in Note 1.  The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.

Dan Clasby & Company
September 26, 2002




















                                    Page 1


                                 UNITRONIX CORPORATION AND SUBSIDIARIES
                                 --------------------------------------
                                      CONSOLIDATED BALANCE SHEETS
                                      ---------------------------
                                         June 30, 2002 and 2001

                                                 ASSETS
<TABLE>
<S>                                                                      <C>        <C>
                                                 ------                      2002        2001
                                                                             ----        ----
Current assets:
   Cash                                                                    $12,192         $98
   Accounts receivable, net of allowance for doubtful accounts of
   $1,865 and $925 at June 30, 2002 and 2001, respectively                  38,495      45,306
   Subscriptions receivable                                                 11,500         -
   Prepaid expenses and other current assets                                 1,069       3,971
   Note receivable, net of reserve for bad debt of $1,827 at June 30, 2002     -           -
                                                                            ------      ------
                    Total current assets                                    63,256      49,375
Property and equipment, at cost less accumulated depreciation of $315,574
   and $314,230 at June 30, 2002 and 2001, respectively                        707       2,051

Other assets                                                                 2,971       2,892
                                                                           -------      ------
Total assets                                                               $66,934     $54,318
                                                                           =======     =======
                                  LIABILITIES AND STOCKHOLDERS' DEFICIT
                                  -------------------------------------
Current liabilities:
   Notes payable - related parties                                          715,774    606,544
   Accounts payable                                                         101,998     35,722
   Accrued expenses                                                          25,073     28,018
   Accrued interest - related parties                                       150,430     82,865
   Deferred revenue                                                          41,379     46,854
                                                                            -------    -------
                    Total current liabilities                             1,034,654    800,003
                                                                            -------    -------
   Long-term notes payable - related parties                                108,500        -
Commitments and contingencies
Series A preferred stock, $1 par value, 6% convertible
   nonvoting; authorized 1,000,000 shares; 956,728 issued and
   outstanding at June 30, 2002, and 2001, net of issuance costs of
   $1,100 at June 30, 2001, plus undeclared accumulated dividends of
   $229,616 at June 30, 2002, and $172,212 at June 30, 2001               1,186,344  1,127,840

Stockholders' deficit:
Common stock, no par value; authorized 14,000,000 shares at June 30, 2002
   and 2001; 9,643,718 issued and outstanding at June 30 2002 and 2001    3,487,912  3,487,912

Additional paid-in capital                                                    3,988      4,890
Accumulated deficit                                                      (5,754,464)(5,366,327)
                                                                         ---------   ---------
Total stockholders' deficit                                              (2,262,564)(1,873,525)
                                                                          ---------  ---------
Total liabilities and stockholders' deficit                                 $66,934    $54,318
                                                                           ========    =======
</TABLE>
  See accompanying notes to financial statements.

                                                  Page 2


                                 UNITRONIX CORPORATION AND SUBSIDIARIES
                                 --------------------------------------
                                 CONSOLIDATED STATEMENTS OF OPERATIONS
                                 -------------------------------------
                                Years Ended June 30, 2002, 2001 and 2000

<TABLE>
<S>                                                      <C>         <C>         <C>
                                                             2002       2001        2000
                                                             ----       ----        ----
Revenue:
   Software licenses                                        $13,650    $15,556    $14,971
   PRAXA software related services                          231,071    318,448    473,823
   Maps and related services                                    -       26,128     31,970
                                                          ---------    -------   ---------
                 Total revenue                              244,721    360,132    520,764
                                                          ---------   --------   ---------

Costs and expenses:
   Cost of software licenses                                   -           -        1,590
   Cost of PRAXA software related services                  98,215     116,510    196,641
   Cost of map production                                      -         2,894     45,859
   Mineral exploration project expenses                     76,477         -          -
   Predictive software development costs                   167,769      41,221     51,993
   PRAXA selling expenses                                    7,372      20,611     98,303
   General and administrative                              162,454     389,902    457,900
                                                          ---------  ---------   ---------
                  Total costs and expenses                 512,287     571,138    852,286
                                                          ---------  ---------   ---------

Income (loss) from operations                             (267,566)  (211,006)   (331,522)
Interest income (expense), net                             (66,567)   (56,193)    (37,706)
Other income (expense), net                                  3,400    214,286     307,489
                                                           --------   --------    --------
Loss before income taxes                                  (330,733)   (52,913)    (61,739)
                                                           --------   --------    --------
Provision for income taxes                                      -          -           -

Net loss                                                  (330,733)   $(52,913)   $(61,739)
                                                           ========   ========    ========
Basic and diluted net (loss) per share                      $(0.03)     $(0.01)    $(0.01)
                                                           ========   ========    ========
Shares used in computing basic and diluted net
   (loss) per share                                      9,643,718   9,643,718   9,489,757
                                                         =========   =========   =========
</TABLE>


  See accompanying notes to financial statements.








                                               Page 3


                               UNITRONIX CORPORATION AND SUBSIDIARIES
                                 --------------------------------------
                    CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT
                    -----------------------------------------------------------
                               Years Ended June 30, 2002, 2001 and 2000

<TABLE>
<S>                         <C>          <C>         <C>        <C>          <C>
                                 Common  Stock       Additional               Total
                              Shares                  Paid-In    Accumulated Stockholders'
                              Issued        Amount    Capital      Deficit    Deficit
                             ----------------------  ----------  -----------  ------------
Balance, June 30, 1999       9,456,932    $3,485,412    $7,090  $(5,108,500) $(1,615,998)

Balance, majority owned
 subsidiary, December 31, 1999                                      (28,367)     (28,367)

Exercise of employee
 stock  options                 20,000         2,500                               2,500

Capital contribution to
 subsidiary by minority shareowner                       42,160                   42,160
Purchase of assets of
 Glen Jones Enterprises        156,786
Purchase of internet
  domain names                  10,000

Net loss                                                              (61,739)   (61,739)


Unpaid accumulated
 preferred dividends                                (57,404)   (57,404)

Amortization of preferred
 stock issuance costs                                    (1,100)                  (1,100)
                             ---------    ----------      -------   ---------    ---------
Balance, June 30, 2000      9,643,718    $3,487,912    $48,150  $(5,256,010) $(1,719,948)

Net loss                                                            (52,913)     (52,193)

Return of capital contribution
 to minority shareholder                               (42,160)                  (42,160)

Unpaid accumulated preferred dividends                              (57,404)     (57,404)

Amortization of preferred
 stock issuance costs                                    (1,100)                  (1,100)
                            ---------    ----------     -------   ---------    ---------
Balance, June 30, 2001      9,643,718    $3,487,912     $4,890  $(5,366,327) $(1,873,525)

Net loss                                                           (330,733)    (330,733)
Unpaid accumulated
 preferred dividends                              (57,404)     (57,404)

Amortization of preferred
 stock issuance costs                                    (1,100)                  (1,100)
Capital contributions to
 Subsidiaries                                               198                      198
                            ---------    ----------     -------   ---------    ---------
Balance, June 30, 2002      9,643,718    $3,487,912      $3,988 $(5,754,464) $(2,262,564)
</TABLE>

     See accompanying notes to financial statements.

                                       Page 4


                                UNITRONIX CORPORATION AND SUBSIDIARIES
                                --------------------------------------
                                CONSOLIDATED STATEMENTS OF CASH FLOWS
                                -------------------------------------
                               Years Ended June 30, 2002, 2001 and 2000

<TABLE>
<S>                                               <C>             <C>            <C>
                                                       2002           2001          2000
                                                       ----           ----          ----
Cash flows from operating activities:
Net loss                                          $(330,733)      $(52,913)      $(61,739)
Adjustments to reconcile net loss to net cash
  provided (used) by operating activities:
  Depreciation and amortization                       1,344          4,856          9,595
  Provision for bad debts                             2,767         (7,307)        (2,560)

Decreases (increases) in operating assets:
  Accounts receivable                                 5,871         10,016          2,688
  Note receivable                                    (1,827)       145,833       (145,833)
  Subscriptions receivable                          (11,500)           -              -
  Prepaid expenses and other current assets           2,902            368          3,374
  Other assets                                          (79)         1,436         (1,433)
Increases (decreases) in operating liabilities:
  Accounts payable                                   66,276        (70,931)        93,811
  Accrued expenses                                   (2,945)       (26,824)       (22,966)
  Accrued interest                                   67,565         48,384         26,981
  Deferred revenue                                   (5,475)       (30,983)       (11,899)
                                                     -------        -------       -------
Net cash provided (used) by operating activities   (205,834)        21,935       (109,981)
                                                    -------        -------        -------
Cash flows for investing activities:
  Purchase of equipment                                 -              -          (16,805)
  Purchase of assets of G.E. Jones Enterprises          -              -          (84,418)
  Sale of equipment                                     -              660            -
                                                     -------        -------       -------
Net cash provided (used) by investing activities        -              660       (101,223)
                                                     -------        -------       -------
Cash flows from financing activities:
  Capital contributions to subsidiaries                 198           -            42,160
  Proceeds from sale of common stock                    -             -             2,500
  Proceeds from borrowings                          217,730         86,051        440,195
  Repayments of borrowings                              -         (144,000)      (252,527)
                                                    -------        -------        -------
Net cash provided (used) by financing activities    217,928        (57,949)       232,328
                                                    -------        -------        -------
Net increase (decrease) in cash                      12,094        (35,354)        21,124
Cash at beginning of year                                98         35,452         14,328
                                                    -------        -------        -------
Cash at end of year                                 $12,192            $98        $35,452
                                                   ========       ========       ========
</TABLE>

  See accompanying notes to financial statements.


                                              Page 5



                       UNITRONIX CORPORATION AND SUBSIDIARIES
                       --------------------------------------
                     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                     ------------------------------------------

1. Summary of Significant Accounting Policies:
   ------------------------------------------
   Basis of Presentation and Business
   ----------------------------------
   The consolidated financial statements include the accounts of Unitronix
   Corporation, its wholly owned subsidiaries, 3936449 Canada, Incorpor-
   ated and 1522923 Ontario, Incorporated, and its former majority-owned
   subsidiaries, Interactive Mining Technologies, LLC, and Enersource Mapping,
   Inc.  All significant inter-company accounts and transactions have been
   eliminated.

   Unitronix Corporation (the "Company") has historically been in the business
   of licensing PRAXA software, which operates on VAX and Alpha Computers manu-
   factured by Compaq Computer Corporation, and providing software maintenance,
   training, consulting and custom programming services in conjunction with the
   PRAXA software.  Because of the deficiencies of PRAXA and the projected costs
   of developing a new product for the highly competitive manufacturing system
   marketplace, the Company recently changed its focus so that it is now concen-
   trating on developing products and services for use in the mineral explor-
   ation, mining and related industries. This business segment consists of the
   business of the Company's former majority owned subsidiary, Interactive
   Mining Technologies, LLC.  The Company has also formed two subsidiaries, both
   of which are wholly owned, to use the Company's mineral potential analysis
   tool to identify properties of merit for eventual joint venture or sale.

   IMT had been the majority shareholder of EnerSource Mapping, Inc., (ESM) a
   Canadian corporation that was engaged in producing and marketing tenement
   maps to the mining, exploration and investment communities.  IMT's shares of
   ESM were sold to Goldsat Mining, Inc., a Canadian corporation engaged in
   mineral exploration and development in Canada, who was the only other share-
   holder in both IMT and ESM.

   The Company has continued to incur losses from operations and has a working
   capital deficit as of June  30, 2002 of $(971,398), notes payable to its
   principal shareholder of $612,274 and other notes payable of $103,500.  As a
   result, management anticipates that additional financing will be required in
   the very near future to sustain the Company's operations and to repay the
   notes.  Management's plans for continuing their operations and to repay the
   notes include developing new products and services to sell, raising addit-
   ional funds from new and existing investors and generating revenues from the
   sale of existing products and services.  In addition the Company is attempt-
   ing to sell the PRAXA software sales and support business.  There can be no
   assurance that the Company will obtain new products or services to sell, the
   financing or the product revenues needed to continue its operations and to
   repay the notes.  The financial statements do not include any adjustments
   that might result from these uncertainties.

   Use of Estimates
   ----------------
   The preparation of financial statements in conformity with generally accepted
   accounting principles requires management to make certain estimates and

                                    page 6


                       UNITRONIX CORPORATION AND SUBSIDIARIES
                       --------------------------------------
                     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                     ------------------------------------------
1. continued

   assumptions that affect the reported amounts of assets and liabilities and
   disclosure of contingent assets and liabilities at the date of the financial
   statements and the reported amounts of revenues and expenses during the
   reported periods.  Actual results could differ from those estimates.

   Risks and Uncertainties
   -----------------------
   The Company is subject to risks common to companies in the high technology
   industry including, but not limited to, development by the Company or its
   competitors of new technological innovations, dependence on key personnel,
   and protection of proprietary technology.  The Company's subsidiaries are
   subject to the risks and uncertainties that prevail in the mineral explor-
   ation industry.

   Economic Dependence
   -------------------
   In the fiscal year ended June 30, 2002, one customer accounted for 11.5% of
   the Company's total revenue.  In the fiscal years ended June 30, 2001, and
   June 30, 2000, no single customer accounted for more than 10% of total
   revenue.

   Revenue Recognition
   -------------------
   Effective December 31, 1997, the Company adopted Statement of Position 97-2
   (Software Revenue Recognition) issued by the American Institute of Certified
   Public Accountants.  This statement provides guidance on when revenue should
   be recognized, and in what amounts for licensing, selling, leasing or
   otherwise marketing computer software.  Software revenue and computer system
   revenue are generally recognized upon product shipment, provided that no
   significant vendor obligation exists and collection of the related receivable
   is deemed probable by management.  Revenue from software maintenance
   contracts is recognized ratably over the contractual period, and other
   service revenue is generally recognized as the services are provided.

   Software Costs
   --------------
   The Company capitalizes certain software costs after technological
   feasibility of the product has been established and ceases capitalization
   when the product is available for general release to customers.  Costs
   incurred prior to the establishment of technological feasibility are charged
   to product development costs.  Such costs are amortized on a straight-line
   basis over the estimated useful life of three years or the ratio of current
   revenue to the total of current and anticipated future revenue, whichever is
   greater.  The Company did not capitalize any software costs for the years
   ended June 30, 2002, 2001 and 2000.  All software development costs that had
   been capitalized in prior years were completely amortized prior to the year
   ended June 30, 2000.




                                    Page 7


                       UNITRONIX CORPORATION AND SUBSIDIARIES
                       --------------------------------------
                     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                     ------------------------------------------
1. continued

   Income Taxes
   ------------
   The Company follows the liability method for accounting for income taxes.
   Under this method, deferred tax assets and liabilities are recognized based
   on temporary differences between the financial statement and tax bases of
   assets and liabilities using current statutory tax rates.  A valuation
   allowance is required to offset any net deferred assets if, based upon
   weighted available evidence, it is more likely than not that some or all of
   the deferred tax assets will not be realized.

Loss per Common Share
   ---------------------
   Effective December 31, 1997, the Company adopted Statement of Financial
   Accounting Standards No. 128 ("SFAS 128"), Earnings per Share, which requires
   disclosure of basic earnings per common share and diluted earnings per
   common share for all periods presented.  The computation of basic and
   diluted earnings per share is presented below.

Basic and diluted net loss per share:
------------------------------------
                                                   For the Years Ended June 30,
                                                   ---------------------------
                                                    2002       2001       2000
                                                    ----       ----       ----
Numerator:
   Net loss                                     $(330,733)  $(52,913)  $(61,739)
   Preferred dividends                                -          -          -
                                                 --------   -------   ---------
Income available to common shareholders         $(330,733)  $(52,913)  $(61,739)
                                                =========  =========  =========

Denominator:
   Weighted average number of shares issued
      and outstanding                           9,643,718  9,643,718  9,489,757
   Assumed exercise of options reduced by the
      number of shares which could have been
      purchased with the proceeds of those options    -          -          -
   Assumed conversion of preferred stock              -          -          -
                                                ---------  ---------  ---------
Total shares                                    9,643,718  9,643,718  9,489,757
                                                ---------  ---------  ---------

Basic and diluted net loss per share            $   (.03)  $   (.01)  $   (.01)
                                                =========  =========  =========

As a result of a net loss for all periods presented, common stock equivalents
for the assumed exercise of options and conversion of preferred shares are not
included in the calculation of weighted average shares since their effect would
be antidilutive.


                                    Page 8


                      UNITRONIX CORPORATION AND SUBSIDIARIES
                      --------------------------------------
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    ------------------------------------------
1. continued

Property and Equipment
----------------------
Property and equipment are stated at cost.  Depreciation is computed using the
straight-line method over the estimated useful lives of the assets, generally
three to five years, for financial reporting, and accelerated methods for income
taxes.  Expenditures for repairs and maintenance which do not increase the
useful life of the related assets are expensed as incurred.  Upon retirement or
sale, the cost of the assets disposed of and the related accumulated
depreciation are removed from the accounts; any resulting gain or loss is
credited or charged to income.

Recently Issued Accounting Pronouncements
-----------------------------------------
The Financial Accounting Standards Board has issued Statement No. 130
("SFAS 130"), "Reporting Comprehensive Income".  This statement requires
changes in comprehensive income to be shown in a financial statement that is
displayed with the same prominence as other financial statements.  While not
mandating a specific financial statement format, the Statement requires that
an amount representing total comprehensive income be reported.  The Statement
is effective for fiscal years beginning after December 15, 1997.  Reclass-
ification of financial statements for earlier periods is required for compar-
ative purposes.  There were no other items of comprehensive income in the
years reported on.

The FASB has also issued Statement No. 131 ("SFAS 131"), "Disclosures about
Segments of an Enterprise and Related Information".  This Statement, which
supersedes Statement No. 14, "Financial Reporting for Segments of a Business
Enterprise," changes the way public companies report information about seg-
ments.  The Statement, which is based on the management approach to segment
reporting, includes requirements to report segment information quarterly and
entity-wide disclosures about products and services, major customers, and the
material countries in which the entity holds assets and reports revenues.  The
Statement is effective for periods beginning after December 15, 1997.  Restate-
ment for earlier years is required for comparative purposes unless impractic-
able.  Additional information pertaining to segment reporting is provided in
Note 11.

In June, 1998, the FASB issued Statement No. 133 ("SFAS 133"), "Accounting
for Derivative Instruments and Hedging Activities", which is effective for
fiscal years beginning after June 15, 1999.  The statement establishes account-
ing and reporting standards requiring that every derivative instrument be
recorded in the balance sheet as either an asset or liability, measured at
its fair value.  SFAS N0. 133 also requires that changes in the derivative's
fair value be recognized currently in earnings unless specific hedge accounting
criteria are met.  Adoption of this standard has not had a material impact on
the financial position or results of operations of the Company.





                                    Page 9


                      UNITRONIX CORPORATION AND SUBSIDIARIES
                      --------------------------------------
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    ------------------------------------------
2. Sale and Dissolution of Former Subsidiaries
   -------------------------------------------
On April 27, 2001, Interactive Mining Technologies, LLC, (IMT) which at that
time was a majority owned subsidiary of the Company, finalized the sale of its
majority interest in Enersource Mapping, Inc., a Canadian corporation engaged in
the production and marketing of tenement maps to the mineral exploration and
related industries.  IMT's shares in Enersource Mapping were sold to Goldsat
Mining Inc., the minority shareholder in Enersource Mapping. IMT's interest in
Enersource Mapping was sold because IMT management had determined that
Enersource Mapping would not become profitable within a reasonable length of
time.  Included in the sale were IMT's rights to The Mining Exchange domain
names and web sites.  IMT was granted a one year promissory note for $200,000
Canadian ($136,000 U.S.) by Goldsat Mining with interest thereon at 6% per year.
Goldsat also granted to IMT a warrant to purchase, within 13 months from the
closing date of the sale, 1,000,000 common shares of Goldsat Mining at a price
of $0.20 Canadian per share.  Goldsat also committed to deliver to IMT 156,786
shares of the Company's common stock that had been granted to Glen and Sandra
Jones for the purchase of the assets of G.E. Jones Enterprises in fiscal
2000, within 6 months of the closing date of the sale, or to issue to IMT
156,786 shares of Goldsat Mining stock in lieu thereof.  Since Goldsat
failed to deliver either the Unitronix stock that had been issued to Glen and
Sandra Jones or an equal number of shares of Goldsat stock to IMT, the Company
is currently taking steps to have the Unitronix stock returned directly from
Glen and Sandra Jones.

The note receivable from Goldsat Mining was assigned to two of the Company's
shareholders that had granted loans to the Company in exchange for the forgive-
ness of a like amount of the loans granted, which was $136,000.  The warrants
received for the purchase of Goldsat Mining shares were also assigned to these
shareholders as consideration for their having no recourse if Goldsat should
default on its note.  The shares of stock receivable from Goldsat are not
recognized on the Balance Sheets of the Company.  The note receivable from
Goldsat and the elimination of the liabilities of Enersource Mapping resulted in
other non-operating income of $214,286 for IMT in the year ended June 20, 2001.

In May, 2001, the Company and Goldsat Mining recognized that Goldsat, the
minority shareholder in IMT, did not fulfill its obligations under the
operating agreement for IMT.  Furthermore, the mining properties that had been
granted to IMT by Goldsat as its major contribution to IMT, which were to be
used as test sites for the mineral potential analysis software then being
developed by IMT, were determined to be useless for that purpose.  The members
of IMT, being Goldsat Mining and the Company, agreed to liquidate IMT, with the
mining properties being returned to Goldsat and all rights to the mineral
potential analysis software going to the Company.  The Company also assumed the
existing assets and liabilities of IMT.  The dissolution agreement was finalized
on May 24, 2001, and filed with the State of South Carolina on July 3, 2001.

In June, 2002, the Company's majority shareholder assigned a $10,230 note
receivable from Goldsat Mining and accumulated interest thereon of $937.75
to the Company in exchange for a note and accrued interest thereon in the same
amounts payable by the Company to the majority shareholder.  After repeated
attempts to obtain payment of the note, interest thereon and $3,400 that had

                                    Page 10


                       UNITRONIX CORPORATION AND SUBSIDIARIES
                       --------------------------------------
                     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                     ------------------------------------------
2. continued

been advanced to Goldsat by Unitronix were ignored by Goldsat, the Company
opted to offset an amount payable to Goldsat by Unitronix from the dissolution
of IMT against the note, interest and advances receivable from Goldsat, leaving
$1,632.78 receivable by the Company from Goldsat.  Because in all likelihood
this indebtedness will never be paid by Goldsat, a reserve for bad debts was
made for the full amount due.

3. Related Party Transactions:
   --------------------------
On October 27, 1993, the Company had entered into a one year agreement that had
provided for its principal shareholder to lend up to $400,000 to the Company.
This agreement was renewed for additional one year periods in 1994 and 1995, but
expired on September 1, 1996, at which time the line of credit had been fully
drawn down.  During the period from September 1, 1996, until March 1, 2000, the
principal shareholder continued to provide loans to the Company from time to
time under the terms of the expired agreement, at which time a new lending
agreement that provides for up to $1,000,000 in loans to the Company was signed.
The new agreement expires on March 1, 2005, but can be renewed for successive
one year periods at the option of the shareholder and the Company.  At the time
that the new lending agreement was signed, outstanding loans of $338,250 were
owed to the principal shareholder by the Company.  At September 1, 2002, the
Company owed $491,541 in principal and accrued interest for loans that had been
provided under the new lending agreement.  Loans granted under the new lending
agreement bear interest at the greater of 10% per annum or two points over the
prime rate of interest at the time the loan is granted.  All existing loans bear
interest at the rate of 10% per annum.

As further compensation for the risk borne in the past and to be borne in the
future by lending funds to the Company, the new lending agreement provides for
the issuance of immediately exercisable warrants to purchase 338,250 shares of
the common stock of the Company at a price of $0.125 per share.  It also
provides for the issuance of immediately exercisable warrants on each
anniversary date of the agreement, such warrants to be for the purchase of the
common stock of the Company at a price that is 25% below the bid price for such
stock on such anniversary date or the most recent trading date for which a bid
price is available, with the number of such warrants so issuable to be equal to
one such warrant for each dollar of total loans outstanding on such anniversary
date.

In July, 1997, a loan of $200,000 was granted to the Company by the Carolina
First Bank.  The loan was secured by the pledge of all of the assets of the
Company and by the personal guaranty and pledge of certain personal assets of
the Company's principal shareholder.  The loan was renewed on June 20, 1998, for
$199,000 and again on July 28, 1999, for $199,000.  On October 29, 1999, the
Company's principal shareholder personally repaid to the bank the principal and
interest due, amounting to $203,202, thereby canceling and discharging all
outstanding obligations from the Company to the bank and creating an obligation
to the principal shareholder in the same amount.  On that same date, the Company
issued a note to the principal shareholder in the amount of $203,202, bearing
interest at the rate of 10% per annum.  At September 1, 2002, the Company owed
$259,597 for principal and accrued interest for this loan.  Although no assur-

                                    Page 11

                      UNITRONIX CORPORATION AND SUBSIDIARIES
                      --------------------------------------
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    ------------------------------------------
3. continued

ances can be given, management believes that this shareholder does not intend to
demand repayment of the debt and interest outstanding under this note or the
lending agreement discussed above, in the foreseeable future.

The Board of Directors of the Company had previously voted to grant 200,000
shares of common stock to the principal shareholder for the risk assumed in
guaranteeing the $200,000 bank loan, but such shares were never issued.  As
compensation for the risk being borne by the principal shareholder and in
recognition of the fact that the previously approved grant of 200,000 shares of
common stock was not satisfied, the Board of Directors voted to grant warrants
for the purchase of 600,000 shares of the Company's common stock at a price of
$0.125 per share to the principal shareholder, and to grant warrants for an
additional 100,000 shares at the end of each fiscal year, beginning with the
fiscal year ended June 30, 2000, for each year that the note remains unpaid.

Another shareholder of the Company had loaned a total of $103,500 to the
Company as of September 1, 2002.  Also, the two principal shareholders of the
Company advanced $108,500 to the exploration subsidiaries of the Company, which
is to be repaid only from profits of the subsidiaries.  The Company has no
obligation to make repayment if the subsidiaries are unprofitable.

On June 30, 1998, the Company entered into an agreement to exchange $675,924
of demand notes outstanding and $152,679 in accrued interest to three share-
holders for 828,603 preferred shares (see Note 9).

On June 30, 1998, the Company entered into an agreement to exchange $16,125 in
accounts payable to an entity controlled by a director of the Company for 16,125
shares of preferred stock (see Note 9).

4. Property and Equipment:
   ----------------------
The major classes of property and equipment are as follows:
                                                               June 30,
                                                           ---------------
                                                           2002       2001
                                                           ----       ----
   Computer equipment                                     $299,218   $299,218
   Office furniture and fixtures                            17,063     17,063
                                                           -------    -------
                                                           316,281    316,281
    Less:  accumulated depreciation                       (315,574)  (314,230)
                                                           -------    -------
                                                          $    707   $  2,051
                                                           =======    =======

Depreciation expense for the years ended June 30, 2002, 2001 and 2000 was
$1,344, $1,855, and $8,375, respectively.




                                    Page 12


                      UNITRONIX CORPORATION AND SUBSIDIARIES
                      --------------------------------------
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    ------------------------------------------
5. Income Taxes:
   ------------
The components of the deferred tax assets and liabilities as of June 30, 2001
and 2000 were as follows:
                                                         2002         2001
                                                         ----         ----
   Deferred tax assets:
      Net operating loss carryforwards                $2,667,807  $ 2,585,124
      Tax credits                                        197,252      197,252
      Other                                                7,189        7,189
                                                         ---------  ---------
         Subtotal                                      2,872,248    2,789,565

   Deferred tax liabilities:
      Capitalized software costs                              -           -
      Net fixed assets                                        -           -
                                                         ---------  ---------
         Subtotal                                             -           -
                                                         ---------  ---------

   Valuation allowance                               $(2,872,248) $(2,789,565)
                                                         =========  =========
   Net deferred tax assets                                     -          -

The Company has established a valuation allowance for its net deferred tax
assets due to the uncertainty surrounding their realization.

As of June 30, 2002, the Company has net operating loss carry forwards for
federal income tax purposes of approximately $6,485,000 which expire from the
years 2006 through 2022.  The Company also has research and development credits
for federal income tax purposes in the amount of $153,243 available to offset
future income taxes.  These credits expire from the years 2007 through 2012.
Due to the Company's issuance of stock, the Company's use of its existing net
operating loss carryforwards may be restricted under Section 382 of the Internal
Revenue Code.

A reconciliation of the provision for income taxes at the federal statutory
income tax rate of 25% for the year ended June 30, 2002, 15% for the year ended
June 30, 2001, and 17% for the year ended June 30, 2000, with the provision
reflected in the financial statements is as follows:

                                                    2002       2001        2000
                                                    ----       ----        ----
Tax expense (benefit) at federal statutory
   income tax rate                                $(82,683)   $  580   $(10,435)
State income taxes, net of federal benefit           1,646       380     (3,828)
Nondeductible business expenses                        100       100        700
Other                                                   -         -          -
Credits                                                 -         -          -
Change in valuation allowance                       80,937    (1,060)    13,563
                                                   -------   -------    -------
Total tax provision                                     -        -          -
                                                 =========  ========   ========

                                    Page 13

                      UNITRONIX CORPORATION AND SUBSIDIARIES
                      --------------------------------------
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    ------------------------------------------
6. Profit Sharing Plan:
   -------------------
The Company had a qualified profit-sharing plan that incorporated a "savings"
feature under Section 401(k) of the Internal Revenue Code (IRC), which allowed
participants to make contributions by salary reduction subject to annual
compensation limits as defined by the IRC.  Contributions under the profit-
sharing feature of the plan were discretionary and determined annually by
management.  No contributions had been made to this plan for any year since
1989.  All participation under the 401(k) feature of the plan had ceased as of
February, 2002, after which time the Board of Directors voted to discontinue
the plan in ins entirety because of the expenses being incurred to administer
the plan.  As of June 30, 2002, two former employees had funds remaining in
the plan, which management is attempting to have transferred into rollover
accounts.

 7. Commitments and Contingencies:
   -----------------------------
The Company currently occupies both of its offices as tenants at will.
Total rental expense was $18,484, $50,757 and $42,380 for the years ended
June 30, 2002, 2001 and 2000, respectively.
8. Legal Proceedings:
   -----------------
The Company is not currently involved in any legal proceedings.

9. Preferred Stock:
   ---------------
On June 30, 1998, the Company converted $675,924 in notes payable, $119,525
in accounts payable and $161,279 in accrued interest into 956,728 shares of
mandatory redeemable, convertible, Series A preferred stock $1.00 per share
par value("preferred stock").  The preferred stock had a 6% cumulative
dividend feature and has no voting rights.  The Company incurred $4,400 in
issuance costs associated with the preferred stock offering and has netted
them against the preferred stock carrying amount on the balance sheet.  These
costs were accreted from the date of issue until the date of the original
mandatory redemption, which was June 30, 2002.

During the quarter ended June 30, 2002, the Board of Directors, acting in what
it believed to be in the best interests of the Company, voted to amend the
cumulative dividend feature, conversion rights and mandatory redemption date of
the preferred shares, subject to approval by a majority of the holders of the
shares.  The holders of a majority of the shares subsequently approved the
following amendments to the Series A Convertible Preferred shares:

   The mandatory redemption date for the preferred shares is June 30, 2006.

   The mandatory redemption price is $1.00 per share plus all dividends accrued
   through June 30, 2002.

   The cumulative dividend feature was eliminated as of June 30, 2002, so that
   any quarterly dividend not declared by the Board of Directors will not accum-
   ulate for later payment.


                                    Page 14


                      UNITRONIX CORPORATION AND SUBSIDIARIES
                      --------------------------------------
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    ------------------------------------------
9. continued

   The conversion terms were made more favorable for the preferred shareholders
   so that from July 1, 2002 through June 30, 2006, each share of preferred
   stock can be converted into one share of common stock of the Company.

In the event of any voluntary or involuntary liquidation, dissolution, or
winding up of the Company, the holders of the preferred stock are
entitled to be paid an amount equal to the greater of (a) $1.00 per share
plus all accrued but unpaid preferred dividends or (b) the amount that would
be distributable to the shareholders of the preferred stock if those holders
converted the preferred stock as indicated above.

10.Stock Option Plan:
   -----------------
During fiscal 1994 the Company adopted the 1993 Stock Option Plan (the
"Plan"), and reserved 1,000,000 shares of common stock for issuance under the
Plan.  Under the Company's incentive and nonqualified stock option plan,
incentive stock options can be granted to officers, key employees, directors
or consultants of the Company and any subsidiary, entitling them to
purchase shares of common stock within one to ten years from the date of
grant at option prices equal to or above the fair market value at the date of
grant.  Nonqualified stock options are generally granted under the same
terms.  The exercise price for incentive stock options may not be less than
the fair market value of the common stock on the date of the grant (or 110%
of fair market value in the case of employees or officers holding 10% or more
of the total combined voting power of all classes of stock of the Company).
The vesting period for the options is determined by the option committee at
the time of the grant.

In October 1995, the FASB issued SFAS NO. 123, "Accounting for Stock-Based
Compensation." SFAS NO. 123 is effective for periods beginning after
December 15, 1995.  SFAS NO. 123 requires that companies either recognize
compensation expense for grants of stock, stock options, and other equity
instruments based on fair value, or provide pro forma disclosure of net
income and earnings per share in the notes to the financial statements.  The
Company adopted the disclosure provisions of SFAS NO. 123 in 1996 and has
applied APB Opinion 25 and related interpretations in accounting for its
plans.  Had compensation costs for the Company's stock-based compensation
plan been determined and recognized based on the fair value at the grant
dates as calculated in accordance with SFAS NO. 123, the Company's net loss
for the years ended June 30, 2001, 2000 and 1999 would have been as follows:

                                      2002          2001          2000
                                      ----          ----          ----
                                    Net Loss      Net Loss      Net Loss
                                    --------      --------      --------
      Reported                    $(330,733)     $(52,913)     $(61,739)
      Pro forma                   $(330,733)     $(52,913)     $(62,018)




                                     Page 15


                      UNITRONIX CORPORATION AND SUBSIDIARIES
                      --------------------------------------
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    ------------------------------------------
10. continued

The fair value of each stock option was estimated on the date of grant using
the Black-Scholes option-pricing model.  The following weighted-average
assumptions were used in the valuation of the options:

                              June 30, 2002     June 30, 2001     June 30, 2000

    Expected life                   2 years              -              2 years
    Expected volatility                150%              -                 150%
    Dividend yield                       0%              -                   0%
    Risk-free interest rate           4.62%              -                5.72%

During the year ended June 30, 2002, options for 120,000 shares were granted
under the plan.  No options were granted during the year ended June 30, 2001.
A summary of the status of the Company's stock option plan as of June 30, 2002,
2001, and 2000,and changes during each of the years then ended, is presented
below:

                                                                  Weighted
                                                                   Average
                                                                  Exercise
                                              Number of          Price per
                                               Shares               Share
                                              ---------          ---------

Options outstanding at June 30, 1999            465,000              0.125
Options granted                                       0                -
Options exercised                               (20,000)             0.125
Options canceled                                (70,000)             0.125
                                                -------
Options outstanding at June 30, 2000            375,000              0.125
Options granted                                       0                -
Options exercised                                     0                -
Options canceled                                (20,000)               -
                                                --------
Options outstanding at June 30, 2001            355,000              0.125
Options granted                                 120,000               .200
Options exercised                                     0                -
Options canceled                                      0                -
                                                --------
Options outstanding at June 30, 2002            475,000              0.144

                                                ========









                                    Page 16


                      UNITRONIX CORPORATION AND SUBSIDIARIES
                      --------------------------------------
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    ------------------------------------------
10. continued

There were 475,000 options exercisable as of June 30, 2002.  The following table
summarizes information about stock options outstanding at June 30, 2002

              Options Outstanding                        Options Exercisable
   ------------------------------------------------   -----------------------
                         Weighted-
                          Average       Weighted-                Weighted-
                         Remaining       Average                  Average
Exercise     Number     Contractual     Exercise       Number    Exercise
  Price   Outstanding      Life           Price      Exercisable   Price
--------  -----------   -----------     --------     ----------- ----------
$0.125      355,000     3.81 years      $0.125         355,000    $0.125
$0.200      120,000     1.77 years      $0.200         120,000    $0.200

There are 525,000 options available for grant as of June 30, 2002.

The effects of applying SFAS NO. 123 in this disclosure are not indicative of
future amounts.  SFAS NO. 123 does not apply to awards made prior to 1995.
Additional awards in future years are anticipated.

11.Operating Segments
   ------------------
The Company adopted SFAS No. 131, "Disclosures about Segments of an Enterprise
and Related Information," in fiscal 1999.  SFAS No. 131 established standards
for reporting information about operating segments in the Company's financial
statements.  Operating segments are defined as components of an enterprise
about which separate financial information is available that is evaluated
regularly by the chief operating decision maker, or decision making group, in
deciding how to allocate resources and in assessing performance.  The Company's
chief operating decision maker is the Chief Executive Officer of the Company.

The Company organizes its business units into three reportable segments:
manufacturing software licenses and related services; mineral exploration
products and services; and, mineral exploration activities.  The segments'
accounting policies are the same as those described in the summary of
significant accounting policies except that interest expense and non-operating
income and expenses are not allocated to the individual operating segments when
determining segment profit or loss.  The Company evaluates performance based on
profit or loss from operations before interest and income taxes not including
nonrecurring gains and losses.











                                  Page 17


                      UNITRONIX CORPORATION AND SUBSIDIARIES
                      --------------------------------------
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    ------------------------------------------
11. continued

   Reconciliation of Segment Information
   -------------------------------------

                                    2002          2001          2000

                                    ----          ----          ----

Manufacturing Software Licenses
    and Related Services

     Revenue                      $244,721      $334,004      $488,794
     Costs and expenses            154,619       197,945       546,464
                                  --------      --------     ---------
     Income (Loss) for segment      90,102       136,059       (57,670)

Mineral Exploration Products
    and Services:

     Revenue                           -          26,128        31,970
     Costs and expenses            245,677       373,193       305,822
                                  --------      --------     ---------
     Income for segment           (245,677)     (347,065)     (273,852)

Mineral Exploration Activities

     Revenue                           -             -             -
     Costs and expenses            111,991           -             -
                                  --------      --------     ---------
     (Loss) for segment           (111,991)          -             -
                                   -------       -------       -------

Total income (loss) for segments $(267,566)    $(211,006)    $(331,522)
                                   =======      ========     =========



















                                    Page 18


                       UNITRONIX CORPORATION AND SUBSIDIARIES
                       --------------------------------------
                    SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS
                    ---------------------------------------------

Col. A                          Col. B        Col. E     Col. D         Col. E
------                          ------        ------     ------         ------
                              Balance at    Charged to
                               Beginning     Costs and                Balance at
    Description              of Period      Expenses   Deductions* End of Period
    -----------              -----------    ---------- ----------  -------------
Year ended June 30, 2002:
   Allowance for doubtful
        accounts                   $925      $24,538    $(23,598)       $1,865

Year ended June 30, 2001:
   Allowance for doubtful
        accounts                  8,232       15,456     (22,763)          925

Year ended June 30, 2000:
   Allowance for doubtful
       accounts                   8,402        3,901      (4,071)        8,232




*(Write-off) recovery of bad debts






















                                    Page 19