5

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)
[ X ]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
       OF 1934

       For the quarterly period ended June 30, 2003

[   ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
       For the transition period from ________________ to _________________

                         Commission file number 0-28555

                                    VOLT INC.
  -----------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

          NEVADA                                         86-0960464
 --------------------------                    ----------------------------
     (State or other jurisdiction of incorporation or organization) (IRS
Employer Identification No.)

                   41667 Yosemite Pines Dr., Oakhurst CA 93644
  -----------------------------------------------------------------------------
                    (Address of principal executive offices)

                                 (559) 692-2474
  -----------------------------------------------------------------------------
                           (Issuer's telephone number)



  -----------------------------------------------------------------------------
              (Former name, former address and former fiscal year,
                         if changed since last report)


                      APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: 3,919,422 Common Shares $0.001 par
value as of June 30, 2003

Transitional Small Business Disclosure Format (Check one): Yes [ ] No [ X ]


<PAGE>


                         PART I -- FINANCIAL INFORMATION

Item 1.  Financial Statements.

The information required by Item 310(b) of Regulation S-B is attached hereto as
Exhibit One.

Item 2.  Management's Discussion and Analysis or Plan of Operation.

The Company continues to diversify its operations for the benefit of the
shareholders. Growth through the subsidiaries in the mortgage, real estate,
construction and energy divisions has been achieved through acquisitions and
internal restructuring for the long term. The Company intends to change its name
from Volt Inc to Kore Holdings, Inc. to better reflect its broadening base of
business.

The Company generated $3,065,578 of revenue, $79,705 of net earnings from
continuing operations and $0.02 in earnings per fully diluted common share from
continuing operations for the nine months ended June 30, 2003.

The Company generated $1,302,578 of revenue, $19,974 of net earnings from
continuing operations and $0.01 in earnings per fully diluted common share from
continuing operations for the three months ended June 30, 2003.

For total operations, net income for the nine months ended June 30, 2003, was
$79,705 or $0.02 in earnings per fully diluted common share compared with net
income of $87,279 from continuing operations before extraordinary items $0.04 in
earnings per weighted-average common share before extraordinary items for the
nine months ended June 30, 2002.

For total operations, net income for the three months ended June 30, 2003, was
$19,974 or $0.01 in earnings per fully diluted common share compared with net
income of $66,981 or $0.02 in earnings per weighted-average common share for the
three months ended March 31, 2002.

RESULTS OF CONTINUING OPERATIONS

                                                        Nine Months Ended
                                                             March 31

                                                          2003            2002
                                                       -----------    ----------
                    Revenue                             $3,065,355     $359,111

                    Cost                                 1,511,534      112,065
                                                         ---------      -------

                    Gross profit                         1,553,821      247,046
                                                         =========      =======

                    Gross profit margin                        51%          69%

                    Income from
                    continuing operations
                    before extraordinary item            $  79,705      $87,279

                    Earnings per share per
                    share of common stock                $    0.02      $  0.04



<PAGE>


                                                          Three Months Ended
                                                                June 30

                                                             2003         2002
                                                         -----------------------
                    Revenue                              $1,302,578    $317,711

                    Cost                                    529,198     112,065
                                                         -----------   --------

                    Gross profit                            773,380     205,646
                                                         ===========    =======

                    Gross profit margin                        59.%         65%

                    Income from
                    continuing operations               $    19,974    $ 66,981

                    Earnings per share per
                    share of common stock               $      0.01    $   0.02


Revenue for the nine months ended June 30, 2003 increased $2,706,244 from the
same period last year. Revenue for the three months ended June 30, 2003
increased $984,867 from the same period last year. The reason for this increase
was that on May 17, 2002, the Company acquired all of the issued and outstanding
stock of First Washington Financial and thereby acquired control of all of the
assets of First Washington. First Washington is a mortgage loan originator in
the home mortgage loan industry and currently concentrates its business in
Washington, D.C., Maryland and Virginia. All of the increase in revenue is
attributable to revenues generated by First Washington.

Cost of revenue and operating expenses increased for these periods solely as a
result of the acquisition by the Company of First Washington.

Earnings per fully diluted common share was $0.02 for the nine months ended June
30, 2003 based upon fully diluted common shares outstanding of 3,919,422, and
earnings per common share was $0.04 before extraordinary items and $0.05 after
extraordinary items for the nine months ended June 30, 2002 based upon
weighted-average common shares outstanding of 2,219,422.

Earnings per fully diluted common share was $0.01 for the three months ended
June 30, 2003 based on fully diluted common shares outstanding of 3,919,422, and
earnings per common share was $0.02 for the three months ended June 30, 2002
based upon weighted-average common shares outstanding of 2,219,422.

In October 2002, the Company reached an agreement with Mortgage-Matic of
Greeenbelt, MD to acquire all of the issued and outstanding shares of stock of
Mortgage-Matic. Mortgage-Matic concentrates their business on FHA insured loans
in the $200,000 range. This accounts for approximately 70% of Mortgage-Matic's
business. The acquisition became effective as of January 1, 2003. The Company
acquired all of the issued and outstanding shares of Mortgage-Matic in exchange
for 75,000 shares of Series II Convertible Preferred Voting Stock. The Series II
Convertible Preferred Voting Stock is convertible into the common stock of the
Company on a one for one basis. Mortgage-Matic's net assets consisted of
restricted cash in the amount of $177,384 and other assets.

In April, 2003, the Company acquired Heritage Mortgage which does business in
Maryland and Virginia. Heritage Mortgage concentrates their business on FHA
insured loans in the $200,000 range. The Company acquired all of the issued and
outstanding shares of Heritage Mortgage in exchange for 50,000 shares of Series
II Convertible Preferred Voting Stock. The Series II Convertible Preferred
Voting Stock is convertible into the common stock of the Company on a one for
one basis. The acquisition was for the net assets of Heritage which consisted of
goodwill of $100,000.

The Company has moved its mortgage operations to California where its executive
office is located. The Company has reached an agreement to acquire Yosemite
Brokerage, Inc. in Oakhurst, California. Yosemite Brokerage currently averages
seventy closing a month mostly in the $200,000 range. Yosemite Brokerage had
revenue of $1,559,000 in July, 2003. The Company plans to expand Yosemite
Brokerage's business in California's central valley area which is growing at a
rate of 26% per year. The Company also plans to expand into the secondary paper
market.

SUBSEQUENT EVENTS

In July 2003, the Company purchased all the outstanding shares of Wolverine
Power Corporation for cash and preferred stock. The major assets included in the
Michigan utility are the hydro-electric turbines, the Federal Energy Regulatory
Commission license and the Power Purchase Agreement with Consumer's Energy which
runs through 2022.

                          PART II -- OTHER INFORMATION

Item 1.  Legal Proceedings.

In September of 1999, the Deerbrook Publishing Group, Inc. ("Deerbrook") leased
a computer driven aspect image center (printer for film) used to make separation
for printing (the "aspect image center") and certain other computer equipment
from Copelco Capital, Inc. ("Copelco"). All of the equipment was delivered to
the Deerbrook's then printing operation in Phoenix, Arizona, and installed.
Shortly thereafter, Deerbrook ceased printing for itself and its customers. The
equipment was returned to Copelco. In August of 2000, Copelco brought suit in
the United States District Court for the District of Arizona, cause no. CIV
`00-1620 PHX ROS, to recover its alleged damages $155,398.02 for Deerbrook's
return of the leased equipment plus continuing interest at the rate of one and
one-third percent per month and attorneys fees and costs. The Company does not
believe that Copelco has mitigated its damages and further believes that Copelco
has either sold the equipment or otherwise disposed of the same in a manner
which was not commercially reasonable. The Copelco claims will be vigorously
defended against. Any possible loss from this litigation will be less than one
percent (1%) of the Company's net assets and will be immaterial.


Item 2.  Changes in Securities.

Effective January 1, 2003, the Company issued 75,000 shares of Series II
Convertible Preferred Voting Stock (the "Convertible Preferred") in connection
with an acquisition of another company. Each share of the Convertible Preferred
is entitle to one vote on all matters which holders of the Company's common
stock are entitled to vote. The Convertible Preferred Stock is into convertible
the common stock of the Company on a one for one basis.

In April 2003, the Company issued 50,000 shares of Series II Convertible
Preferred Voting Stock (the "Convertible Preferred") in connection with an
acquisition of another company. Each share of the Convertible Preferred is
entitle to one vote on all matters which holders of the Company's common stock
are entitled to vote. The Convertible Preferred Stock is into convertible the
common stock of the Company on a one for one basis.

Item 3.  Defaults Upon Senior Securities

NONE

Item 4.  Submission of Matters to a Vote of Security Holders.

NONE

Item 5.  Other Information.

NONE

Item 6.  Exhibits and Reports on Form 8-K.

INDEX TO EXHIBITS.

EXHIBIT
NUMBER              DESCRIPTION OF DOCUMENT
-------            ------------------------------------------------
     1             VOLT INC AND SUBSIDIARIES FINANCIAL STATEMENTS


No Forms 8-K were filed during the quarter for which this report is filed.



<PAGE>


                                   SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                                    VOLT INC.
                                                    (Registrant)

Date August 20, 2003                                /s/Denis C. Tseklenis
                                                    Denis Costa Tseklenis
                                                    Chief Executive Officer
                                                    Chairman of the Board



                 CERTIFICATION PURSUANT TO RULE 13A-14 OR 15D-14
                     OF THE SECURITIES EXCHANGE ACT OF 1934

I, Denis C. Tseklenis, Chief Executive Officer certify that:

1. I have reviewed this annual report on Form 10QSB of Volt Inc.

2. Based on my knowledge, this annual report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;

3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4. The Registrant's other certifying officers and I am responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and I have:

         (a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to me by others within those entities, particularly
during the period in which this annual report is being prepared;

         (b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
annual report (the "Evaluation Date"); and

         (c) presented in this annual report my conclusions about the
effectiveness of the disclosure controls and procedures based on my evaluation
as of the Evaluation Date;

5. The Registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent function):

         (a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and

         (b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and

6. The Registrant's other certifying officers and I have indicated in this
annual report whether or not there were significant changes in internal controls
or in other factors that could significantly affect internal controls subsequent
to the date of our most recent evaluation, including any corrective actions with
regard to significant deficiencies and material weaknesses.

Dated:  August 20, 2003

/s/Denis C. Tseklenis
Denis C. Tseklenis
Chief Executive Officer


I, Robert F. Rood, Treasurer and Chief Financial Officer certify that:

1. I have reviewed this annual report on Form 10QSB of Volt Inc.

2. Based on my knowledge, this annual report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;

3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4. The Registrant's other certifying officers and I am responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and I have:

         (a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to me by others within those entities, particularly
during the period in which this annual report is being prepared;

         (b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
annual report (the "Evaluation Date"); and

         (c) presented in this annual report my conclusions about the
effectiveness of the disclosure controls and procedures based on my evaluation
as of the Evaluation Date;

5. The Registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent function):

         (a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and

         (b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and

6. The Registrant's other certifying officers and I have indicated in this
annual report whether or not there were significant changes in internal controls
or in other factors that could significantly affect internal controls subsequent
to the date of our most recent evaluation, including any corrective actions with
regard to significant deficiencies and material weaknesses.

Dated:  August 20, 2003

/s/ Robert F. Rood
Robert F. Rood
Treasurer
Chief Financial Officer



<PAGE>

EXHIBIT ONE

                           VOLT, INC. AND SUBSIDIARIES
              INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED):

         BALANCE SHEETS AS OF JUNE 30, 2003  (UNAUDITED)
         AND SEPTEMBER 30, 2002 (AUDITED)

         STATEMENTS OF INCOME FOR THE NINE AND THREE MONTHS
         ENDED JUNE 30, 2003 AND 2002 (UNAUDITED)

         STATEMENTS OF CASH FLOWS FOR NINE MONTHS
         ENDED JUNE 30, 2003 AND 2002 (UNAUDITED)

         NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
         (UNAUDITED)


                           VOLT INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS
           JUNE 30, 2003 (UNAUDITED) AND SEPTEMBER 30, 2002 (AUDITED)

                                     ASSETS




                                                   (Unaudited)      (Audited)
                                                   June   30,     September 30,
                                                      2003             2002
                                                   ------------    -------------
Current Assets:
  Cash and cash equivalents                        $ 430,723           $172,521
  Deposits                                             2,000                  -
                                                   ------------    -------------
                        Total Current Assets         423,723            172,521

Property and equipment,net                         5,788,325          5,756,339

Other Assets:
  Goodwill                                         3,100,000          3,000,000
  Deferred financing fees, net                             -              5,000
  Advances receivable                                204,000            204,000
                                                  -----------     -------------
                        Total Other Assets         3,304,000          3,209,000
                                                  -----------     -------------
                        Total Assets              $9,525,048         $9,138,460
                                                  ===========     =============

The accompanying notes are an integral part of the condensed consolidated
                             financial statements.



<PAGE>


                           VOLT INC. AND SUBSIDIARIES
                CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
           JUNE 30, 2003 (UNAUDITED) AND SEPTEMBER 30, 2002 (AUDITED)

                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)


                                              (Unaudited)          (Audited)
                                                June 30,        September 30,
                                                 2003                2002
                                              ----------------------------------
Current Liabilities:
  Accounts payable                             $ 41,448         $  36,949
                                              ----------------------------------
                Total Current Liabilities        41,448            36,949

Commitments and Contingencies

Stockholders' Equity (Deficit):
  Preferred stock, $.001 par value,
     10,000,000 shares authorized,
     1,000,000 shares issued and outstanding
     at June 30, 2003 and September 30,
     2002, respectively                          1,000             1,000

  Preferred stock Class B, $.001 par value,
     10,000,000 shares authorized, 125,000
     shares issued and outstanding
     at June 30, 2003 and September 30,
     2002, respectively                            125                 -

  Common Stock, $.001 par value, 25,000,000
     shares authorized; 3,919,422 shares
     issued and outstanding at June 30,
     2003 and September 30, 2002,
     respectively                                 3,919             3,919

  Additional paid-in capital                 13,080,878        12,778,619
  Accumulated deficit                        (3,602,322)       (3,682,027)
                                            ------------       -----------
      Total stockholders' equity              9,483,600         9,101,511
                                            ------------       -----------

  Total Liabilities and Stockholders' Equity $9,525,048        $9,138,640
                                            ============       ===========


   The accompanying notes are an integral part of the condensed consolidated
                             financial statements.


<PAGE>


                           VOLT INC. AND SUBSIDIARIES
             CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
           FOR THE NINE AND THREE MONTHS ENDED JUNE 30, 2003 AND 2002

                                        (UNAUDITED)             (UNAUDITED)
                                      NINE MONTHS ENDED       THREE MONTHS ENDED
                                      2003         2002     2003       2002
                                    ----------  --------   --------  ----------

Revenues                            $ 3,065,355 $ 359,111  $1,302,578  $317,711

Cost of Revenue                       1,511,534   112,065     539,198   112,065
                                    -----------  --------  ----------   -------

Gross Profit                          1,553,821   247,046     773,380   205,646

Operating Expenses
   General and administrative         1,474,116   159,767     753,406   138,665
                                    -----------  --------   ---------   -------

Income (loss) from continuing
  operations before income taxes         79,705    87,279      19,974    66,981

Income taxes                                  -         -           -         -

EXTRAORDINARY ITEM
   Reversal of debt and payables              -    18,000           -         -
                                    -----------  --------   ---------    ------

NET INCOME (LOSS)                   $    79,705  $105,279   $  19,974  $ 66,981

   Dividends                                  -         -           -         -
                                    -----------  --------   ---------   --------

NET INCOME (LOSS) AVAILABLE TO
   COMMON STOCKHOLDERS              $    79,705  $105,279   $  19,974  $ 66,981
                                    ===========  ========   =========   =======

BASIS AND DILUTED EARNINGS PER SHARE:
   Income (loss) from continuing
   operations available to common
   stockholders                     $      0.02  $   0.04   $    0.01  $   0.02
   Extraordinary item                         -      0.01           -         -
                                    -----------  --------   ---------  ---------
NET INCOME AVAILABLE TO COMMON
  STOCKHOLDERS                      $      0.02   $  0.05   $    0.01  $   0.02
                                    ============ ========   =========  ========

WEIGHTED NUMBER OF COMMON SHARES
  OUTSTANDING                        3,919,422  2,219,422   3,919,422 2,919,422
                                   ============ =========   =========  ========

   The accompanying notes are an integral part of the condensed consolidated
                             financial statements.
<PAGE>




                           VOLT INC. AND SUBSIDIARIES
          CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
                FOR THE NINE MONTHS ENDED JUNE 30, 2003 AND 2002




                                                     2003           2002
                                             ----------------------------------

CASH FLOWS FROM OPERAITNG ACTIVITIES
Net income                                      $    79,705       $  105,279

Adjustments to reconcile net income to net
cash used by operating activities:
   Depreciation and amortization                     19,114            6,293
   Amortization of Mortgage-Matic                   177,384                -

Changes in assets and liabilities
   Deposits                                          (2,000)               -
   Commissions receivable                                  -         (50,000)
   Accounts payable                                   4,499          (16,851)
                                             ---------------      ------------
      Total adjustments                             198,997          (60,558)
                                             ---------------------------------
      Net cash provided by
        operating activities                        278,702           44,721


CASH FLOWS FROM INVESTING ACTIVITIES
   Purchases of property and equipment              (45,500)         (30,441)
                                             --------------------------------
   Net cash used in investing activities            (45,500)         (30,441)

CASH FLOWS FROM FINANCING ACTIVITIES
  Advances receivable - other                             -          (83,500)
  Deferred financing fees                                 -          (10,000)
  Contributions of equity                            25,000              -
                                             ---------------------------------
       Net cash provided by (used in)
        financing activities                         25,000          (93,500)
                                             ---------------------------------

NET INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS                            258,202          (79,220)

CASH AND CASH EQUIVALENTS - BEGINNING OF
PERIOD                                              172,521           85,792
                                             ----------------------------------
CASH AND CASH EQUIVALENTS - END OF PERIOD       $   430,723         $  6,572
                                             ==================================

NON CASH INVESTING AND FINANCING ACTIVITIES
   Common stock issued for the acquisition
   of First Washington                          $         -      $ 3,000,000
                                              =============      ===========

   Preferred stock issued for the acquisition
   Heritage Mortgage                            $   100,000      $         -
                                              =============      ===========

   The accompanying notes are an integral part of the condensed consolidated
                             financial statements.
<PAGE>

                           VOLT, INC. AND SUBSIDIARIES
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
                             JUNE 30, 2003 AND 2002


NOTE 1-  ORGANIZATION AND BASIS OF PRESENTATION

                  The condensed consolidated unaudited interim financial
                  statements included herein have been prepared, without audit,
                  pursuant to the rules and regulations of the Securities and
                  Exchange Commission. The consolidated financial statements and
                  notes are presented as permitted on Form 10-QSB and do not
                  contain information included in the Company's annual
                  consolidated statements and notes. Certain information and
                  footnote disclosures normally included in financial statements
                  prepared in accordance with accounting principles generally
                  accepted in the United States of America have been condensed
                  or omitted pursuant to such rules and regulations, although
                  the Company believes that the disclosures are adequate to make
                  the information presented not misleading. The results for the
                  nine and three months ended June 30, 2003 may not be
                  indicative of the results for the entire year.

                  These statements reflect all adjustments, consisting of normal
                  recurring adjustments which, in the opinion of management, are
                  necessary for fair presentation of the information contained
                  herein.

                  Volt, Inc., and Subsidiaries is a power provider and marketer
                  of alternative energy and financial services. The Company is
                  in the initial stages of implementing its business plan.

                  On April 25, 2001, Denis C. Tseklenis acquired 127,995 shares
                  of the Company's common stock, $.001 par value per share,
                  which constituted approximately 53% of the Company's issued
                  and outstanding common stock for $255,000.

                  On May 17, 2002, the Company acquired First Washington
                  Financial Corporation, a company which provides financial
                  services in Bethesda, Maryland ("First Washington"). First
                  Washington is a mortgage company whose emphasis lies in
                  residential mortgages in the greater Washington, D.C. service
                  area. First Washington was acquired for 2,000,000 shares of
                  the Company's common stock.

                  In October 2002, the Company reached an agreement with
                  Mortgage-Matic of Greenbelt, MD to merge the operations of
                  Mortgage-Matic with First Washington. Mortgage-Matic
                  concentrates their business on FHA insured loans in the
                  $200,000 range. This accounts for approximately 70% of its
                  business. The merger should facilitate a streamlining of the
                  processing and underwriting procedures of the companies. This
                  merger became effective as of January 1, 2003. The Company
                  acquired Mortgage-Matic for 75,000 shares of Preferred Stock
                  Class B. For those shares, the Company acquired the net assets
                  of Mortgage-Matic. The net assets consisted of restricted cash
                  in the amount of $177,384.

                  In April 2003, the Company acquired Heritage Mortgage
                  ("Heritage") of South Carolina for 50,000 shares of the
                  Company's Class B Preferred Stock. The acquisition was for the
                  net assets of Heritage which consisted of goodwill of
                  $100,000.


<page>


                           VOLT, INC. AND SUBSIDIARIES
  NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)
                             JUNE 30, 2003 AND 2002

NOTE 2-  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

                  The Company has two other power related wholly-owned
                  subsidiaries, Sun Volt, Inc. and Sun Electronics, Inc. besides
                  Arcadian Renewable Power, Inc.  Arcadian Renewable Power, Inc.
                  is the corporation that holds the Altamont Wind Farm in the
                  Altamont Pass in Livermore, California.

                  Principles of Consolidation

                  The unaudited condensed consolidated balance sheet for June
                  30, 2003, unaudited condensed consolidated statements of
                  income for the nine and three months ended June 30, 2003 and
                  naudited statement of cash flows for the nine months ended
                  June 30, 2003 include Volt, Inc. and its wholly-owned
                  ubsidiaries, First Washington, Mortgage-Matic, Heritage
                  Mortgage, Opportunity Knocks, Sun Volt, Inc., Sun Electronics,
                  Inc. and Arcadian Renewable Power, Inc.

                  The unaudited condensed consolidated balance sheet for June
                  30, 2002, unaudited condensed consolidated statements of
                  income for the nine and three months ended June 30, 2002 and
                  unaudited statement of cash flows for the nine months ended
                  June 30, 2002 include Volt, Inc. and its wholly-owned
                  subsidiaries, First Washington, Sun Volt, Inc., Sun
                  Electronics, Inc. and Arcadian Renewable Power, Inc.

                  Intercompany transactions and balances have been eliminated in
                  consolidation.

                  Use of Estimates

                  The preparation of financial statements in conformity with
                  accounting principles generally accepted in the United States
                  of America, requires management to make estimates and
                  assumptions that affect the reported amounts of assets and
                  liabilities and disclosures of contingent assets and
                  liabilities at the date of the consolidated financial
                  statements and the reported amounts of revenues and expenses
                  during the reporting period. Actual results could differ from
                  those estimates.

                  Cash and Cash Equivalents

                  The Company considers all highly liquid debt instruments and
                  other short-term investments with an initial maturity of three
                  months or less to be cash or cash equivalents.

                  The Company maintains cash and cash equivalent balances at
                  several financial institutions which are insured by the
                  Federal Deposit Insurance Corporation up to $100,000.





<page>


                           VOLT, INC. AND SUBSIDIARIES
  NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)
                             JUNE 30, 2003 AND 2002


NOTE 2-           SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

                  Property and Equipment

                  Property and equipment are stated at cost. Depreciation is
                  computed primarily using the straight-line method over the
                  estimated useful life of the assets.

                  Office and Computer                                   5 years
                  Furniture and Fixtures                                7 years
                  Wind Farm                                            40 years

                  Revenue Recognition

                  The Company sold merchandise and revenue was recorded under
                  the accrual method of accounting.

                  First Washington, Mortgage-Matic and Heritage Mortgage record
                  commission income upon the closing of their respective
                  transactions.

                  Advertising

                  Advertising costs are typically expensed as incurred.
                  Advertising and marketing expense was approximately $163,821
                  and $830 for the nine months ended June 30, 2003 and 2002,
                  respectively.

                  Income Taxes

                  The income tax benefit is computed based on the current tax
                  law. Deferred income taxes are recognized for the tax
                  consequences in future years of differences between the tax
                  basis of assets and liabilities and their financial reporting
                  amounts at each year-end based on enacted tax laws and
                  statutory tax rates.

                  Fair Value of Financial Instruments

                  The carrying amount reported in the consolidated balance
                  sheets for cash and cash equivalents, notes receivable, and
                  accounts payable approximate fair value because of the
                  immediate or short-term maturity of these financial
                  instruments.

                  Deferred Financing Fees

                  The Company paid a $10,000 financing fee in connection with a
                  line of credit in April 2002. This fee was written off over a
                  one-year period of time. As of June 30, 2003, the entire
                  balance has been amortized.

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                           VOLT, INC. AND SUBSIDIARIES
  NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)
                             JUNE 30, 2003 AND 2002

NOTE 2-  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED

                  Goodwill

                  In June 2001, the FASB issued Statement No. 142 "Goodwill and
                  Other Intangible Assets". This Statement addresses financial
                  accounting and reporting for acquired goodwill and other
                  intangible assets and supersedes APB Opinion No. 17,
                  Intangible Assets. It addresses how intangible assets that are
                  acquired individually or with a group of other assets (but not
                  those acquired in a business combination) should be accounted
                  for in financial statements upon their acquisition. This
                  Statement also addresses how goodwill and other intangible
                  assets should be accounted for after they have been initially
                  recognized in the financial statements. This statement has
                  been considered when determining impairment of goodwill in
                  certain transactions. As of June 30, 2003, there are no
                  adjustments of goodwill due to impairment.


                  Earnings Per Share of Common Stock

                  Historical net income per common share is computed using the
                  weighted average number of common shares outstanding. Diluted
                  earnings per share (EPS) includes additional dilution from
                  common stock equivalents, such as stock issuable pursuant to
                  the exercise of stock options and warrants.

                  The following is a reconciliation of the computation for basic
and diluted EPS:

                                                        2003         2002
                                                      ---------    --------

                  Net income                          $  79,705    $ 136,731

                  Weighted-average common shares
                  outstanding (basic)                 3,919,422    3,919,422

                  Weighted-average common stock
                  Equivalents
                  Stock options                               -            -
                  Warrants                                    -            -

                  Weighted-average common shares
                  outstanding (diluted)               #,919,422    3,919,422

                  Reclassifications

                  Certain amounts for the nine and three months ended June 30,
                  2002 have been reclassified to conform with the presentation
                  of the June 30, 2003 amounts. The reclassifications have no
                  effect on net income for the nine and three months ended June
                  30, 2003.


<page>
                           VOLT, INC. AND SUBSIDIARIES
  NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)
                             JUNE 30, 2003 AND 2002


NOTE 3-  PROPERTY AND EQUIPMENT

                  Property and equipment consist of the following at June 30,
                  2003:

                  Wind Farm                                     $ 5,700,000
                  Furniture and fixtures                             46,000
                  Computer and office equipment                      69,917
                                                                -----------
                                                                $ 5,815,917
                  Less: accumulated depreciation                    (27,592)
                                                                -----------
                  Net book value                                $ 5,788,325
                                                                ===========

NOTE 4-  ADVANCES RECEIVABLE

                  As of June 30, 2003, notes receivable were $204,000. There was
                  no interest due the Company on these loans, and the amounts
                  due at June 30, 2003, are deemed by management to have no
                  specific repayment terms.

NOTE 5-  DEPOSITS

                  During the quarter ended March 31, 2003, the Company's
                  subsidiary, Opportunity Knocks placed deposits down on four
                  homes in Virginia Beach, Virginia. Opportunity Knocks placed
                  $500 down per home for a total of $2,000. Opportunity Knocks
                  anticipates closing on these homes by the end of the fiscal
                  year.

NOTE 6-  COMMITMENTS AND CONTINGENCIES

                  The Company entered into a lease agreement in April 2001 in
                  Pleasanton, California. The Company paid $2,800 per month for
                  rent. This lease was terminated by the Company in October
                  2001, and all operations now run through the Cathey's Valley,
                  California location. The security deposit was expensed as part
                  of a rent payment in 2002.

NOTE 7-  STOCKHOLDERS' EQUITY

                  Common and Preferred Stock

                  The Company issued 1,000,000 shares of preferred stock to
                  Denis C. Tseklenis in consideration for the Wind Farm. This
                  preferred stock is convertible by the preferred stockholders
                  at their discretion and they will receive 5 shares of common
                  stock for each share of preferred stock.

<page>

                           VOLT, INC. AND SUBSIDIARIES
  NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)
                             JUNE 30, 2003 AND 2002


NOTE 7-  STOCKHOLDERS' EQUITY (CONTINUED)

                  Common and Preferred Stock (Continued)

                  On April 25, 2001, Denis C. Tseklenis acquired 127,995
                  original issue shares of the Company's common stock, $.001 par
                  value per share, which constituted approximately 53% of the
                  Company's issued and outstanding common stock. Mr. Tseklenis
                  paid the Company $255,000 for the common stock.

                  During the year ended September 30, 2001, in addition to the
                  initial acquisition by Denis C. Tseklenis, the Company had
                  issued 1,678,000 shares and cancelled 225,000 of common stock
                  for $366,711.

                  Prior to the initial acquisition by Denis C. Tseklenis, the
                  Company had issued 1,850,000 shares of common stock for
                  accrued payroll, accounts payable and services.

                  During the quarter ended December 31, 2001, 225,000 shares
                  were reissued that were cancelled from the prior year ended
                  September 30, 2001.

                  On May 17, 2002, the Company issued 2,000,000 shares of
                  restricted common stock to acquire First Washington and thus
                  it became a wholly-owned subsidiary. The shares were valued at
                  the time of the transaction at $1.50 per share, or $3,000,000.

                  On January 1, 2003, the Company issued a board resolution for
                  the authorization of a new class of preferred stock, Preferred
                  Stock, Class B. The Company authorized the issuance of
                  10,000,000 shares with a par value of $.001. Simultaneously
                  with this authorization, the Company issued 75,000 shares of
                  the Preferred Stock Class B, to acquire Mortgage-Matic. The
                  acquisition was for the net assets of Mortgage-Matic which
                  consisted of restricted cash in the amount of $177,384. There
                  was no goodwill in this transaction.

                  In April 2003, the Company issued 50,000 shares of the
                  Preferred Stock, Class B to acquire Heritage Mortgage
                  ("Heritage"). The acquisition was for the net assets of
                  Heritage which consisted of goodwill of $100,000. There was no
                  impairment on this transaction.

NOTE 8-           RELATED PARTY TRANSACTION

                  On January 1, 2003, the Company entered into a lease agreement
                  for the rental of office space for its home office. An officer
                  of the Company is a partner in the partnership that rents this
                  space to the Company. The lease is a five-year lease with a
                  five-year option, with rent of $2,750 per month. Rent expense
                  for the nine months ended June 30, 2003 is $16,500.


<page>



                           VOLT, INC. AND SUBSIDIARIES
  NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)
                             JUNE 30, 2003 AND 2002

NOTE 9-  LITIGATION

                  In September of 1999, the Deerbrook Publishing Group, Inc.
                  ("Deerbrook"), a formerly wholly-owned subsidiary of the
                  Company, leased a computer driven aspect image center (printer
                  for film) used to make separation for printing (the "aspect
                  image center") and certain other computer equipment from
                  Copelco Capital, Inc. ("Copelco"). All of the equipment was
                  delivered to the Deerbrook's then printing operation in
                  Phoenix, Arizona, and installed. Shortly thereafter, Deerbrook
                  ceased printing for itself and its customers. The equipment
                  was returned to Copelco. In August of 2000, Copelco brought
                  suit in the United States District Court for the District of
                  Arizona, cause no. CIV'00-1620 PHX ROS, to recover its alleged
                  damages of $155,398 for Deerbrook's return of the leased
                  equipment plus continuing interest at the rate of one and
                  one-third percent per month and attorneys fees and costs. The
                  Company does not believe that Copelco has mitigated its
                  damages and further believes that Copelco has either sold the
                  equipment or otherwise disposed of the same in a manner which
                  was not commercially reasonable. The Copelco claims will be
                  vigorously defended against. Any possible loss from this
                  litigation will be less than one percent (1%) of the Company's
                  net assets and will be immaterial. Since the change in control
                  of the Company on April 6, 2001, there have been no legal
                  proceedings brought against Volt.

NOTE 10-          PROVISION FOR INCOME TAXES

                  Deferred income taxes are determined using the liability
                  method for the temporary differences between the financial
                  reporting basis and income tax basis of the Company's assets
                  and liabilities. Deferred income taxes are measured based on
                  the tax rates expected to be in effect when the temporary
                  differences are included in the Company's consolidated tax
                  return. Deferred tax assets and liabilities are recognized
                  based on anticipated future tax consequences attributable to
                  differences between financial statement carrying amounts of
                  assets and liabilities and their respective tax bases.

                  At June 30, 2003 and 2002 deferred tax assets consist of the
                  following:


                                                        2003         2002
                                                      --------     ---------

                  Net operating loss carryforwards    $ 166,851    $ 257,670
                  Less: valuation allowance            (166,851)    (257,670)
                                                      ---------    ---------
                                                      $       -    $       -
                                                      =========    ==========

                  At June 30, 2003 and 2002, the Company had federal net
                  operating loss carryforwards in the approximate amounts of
                  $417,128 and $496,833, respectively, available to offset
                  future taxable income. The Company established valuation
                  allowances equal to the full amount of the deferred tax assets
                  due to the uncertainty of the utilization of the operating
                  losses in future periods.

<page>

                           VOLT, INC. AND SUBSIDIARIES
  NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (CONTINUED)
                             JUNE 30, 2003 AND 2002



NOTE 11-          NOTE PAYABLE - BANK

                  In November 2002, the Corporation closed on a line of credit
                  with a bank in the amount of $750,000. The loan proceeds were
                  used to acquire properties for Opportunity Knocks. As of June
                  30, 2003, the Company had no amounts outstanding.


NOTE 12- SUBSEQUENT EVENTS

                  In July 2003, the Company purchased all the outstanding shares
                  of Wolverine Power Corporation for cash and preferred stock.
                  The major assets included in the Michigan utility are the
                  hydro-electric turbines, the Federal Energy Regulatory
                  Commission license and the Power Purchase Agreement with
                  Consumer's Energy which runs through 2022.