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

                                   FORM 10-KSB

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

                      For the Year ended December 31, 2003

                         Commission file number: 0-19471

                          COACH INDUSTRIES GROUP, INC.
             (Exact name of registrant as specified in its charter)

               NEVADA                                   91-1942841
(State or other jurisdiction of          (I.R.S. Employer Identification No.)
incorporation or organization)


          9600 W. SAMPLE ROAD, SUITE 505, CORAL SPRINGS, FLORIDA 33065
               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (305) 531-1174

                              SearchHound.com, Inc.
                   12817 Woodson, Overland Park, Kansas 66209
         (Former name or former address, if changed since last report)

  Copies of all communications, including all communications sent to the agent
                        for service, should be sent to:

                         Joseph I. Emas, Attorney at Law
                             1224 Washington Avenue
                           Miami Beach, Florida 33139
                             Telephone: 305.531.1174

       Securities registered under Section 12(b) of the Exchange Act: None

         Securities registered under Section 12(g) of the Exchange Act:

                          COMMON STOCK, $.001 PAR VALUE
                                (Title of Class)

Check  whether  the issuer  (1) has filed all  reports  required  to be filed by
Section 13 or 15(d) of the  Exchange  Act during the past 12 months (or for such
shorter  period that the issuer was required to file such  reports,  and (2) has
been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

      Check if there is no disclosure  of delinquent  filers in response to Item
405 of  Regulation  S-B  contained  in  this  form,  and no  disclosure  will be
contained, to the best of issuer's knowledge, in definitive proxy or information
statements  incorporated  by  reference  in Part III of this Form  10-KSB or any
amendment to this Form 10-KSB. [X]

      State issuer's revenues for its most recent fiscal year: $472,000.

State the aggregate market value of the voting stock held by  non-affiliates  of
the  registrant  on March 15, 2004,  computed by reference to the price at which
the stock was sold on that date: $9,100,000


<PAGE>


APPLICABLE ONLY TO CORPORATE REGISTRANTS

         State the number of shares  outstanding of each of the issuer's classes
of common equity, as of the latest practicable date.

         9,785,531 shares of Common Stock, $.001 par value, as of December 31,
2003.

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

DOCUMENTS INCORPORATED BY REFERENCE

         None

<PAGE>

                          COACH INDUSTRIES GROUP, INC.

                              Report on Form 10KSB

                   For the Fiscal Year Ended December 31, 2003

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                              PAGE
<S>                                                                           <C>
                                     PART I

Item 1.       Description of the Business......................................  1
Item 2.       Description of the Property...................................... 11
Item 3.       Legal Proceedings................................................ 11
Item 4.       Submission of Matters to Vote of Security Holders................ 12

                                     PART II

Item 5.       Market for Common Equity and Related Stockholder Matters......... 13
Item 6.       Management's Discussion and Analysis............................. 14
Item 7.       Financial Statements............................................. 18
Item 8.       Changes in and Disagreements with Accountants on Accounting and
                  Financial Disclosure......................................... 18

                                    PART III

Item 9.       Directors, Executive Officers, Promoters and Control Persons..... 19
Item 10.      Executive Compensation........................................... 21
Item 11.      Security Ownership of Certain Beneficial Owners and Management... 23
Item 12.      Certain Relationships and Related Transactions................... 24

                                     PART IV

Item 13.      Exhibits and Reports on Form 8-K................................. 26

Item 14.      Principal Accountant Fees and Services........................... 27


Signatures .................................................................... 28
</TABLE>


<PAGE>

                                     PART I

THE PRIVATE  SECURITIES  LITIGATION  REFORM ACT OF 1995 PROVIDES A "SAFE HARBOR"
FOR FORWARD LOOKING  STATEMENTS.  This Form 10-KSB contains  statements that are
not historical facts. These statements are called  "forward-looking  statements"
within the meaning of Section 27A of the  Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. These statements involve important known
and unknown  risks,  uncertainties  and other  factors and can be  identified by
phrases  using  "estimate,"   "anticipate,"   "believe,"   "project,"  "expect,"
"intend,"  "predict,"   "potential,"   "future,"  "may,"  "should"  and  similar
expressions or words. Our future results, performance or achievements may differ
materially  from the  results,  performance  or  achievements  discussed  in the
forward-looking  statements.  There are numerous factors that could cause actual
results to differ  materially  from the  results  discussed  in  forward-looking
statements, including:

o     Changes  in  existing  product  liability,  tort or  warranty  laws or the
      introduction  of new laws,  regulations  or policies that could affect our
      business practices:  these laws,  regulations or policies could impact our
      industry as a whole,  or could impact only those  portions in which we are
      currently active.

o     Changes  in  environmental  regulations:  these  regulations  could have a
      negative impact on our earnings;  for example, laws mandating greater fuel
      efficiency could increase our research and development costs.

o     Changes in  economic  conditions,  including  changes in  interest  rates,
      financial market performance and our industry:  these types of changes can
      impact the economy in general,  resulting in a downward trend that impacts
      not only our business,  but all companies  with which we compete;  or, the
      changes can impact only those parts of the economy upon which we rely in a
      unique fashion, including, hotels, restaurants and business travel.

o     Changes in relationships with major customers and/or suppliers: an adverse
      change in our  relationships  with major customers  and/or suppliers would
      have a negative impact on our earnings and financial position.

o     Armed conflicts and other military actions: the considerable political and
      economic uncertainties resulting from these events, could adversely affect
      our order intake and sales, particularly in the limousine market.

o     Factors  that we have  discussed  in  previous  public  reports  and other
      documents filed with the Securities and Exchange Commission.

This list provides  examples of factors that could affect the results  described
by forward-looking  statements contained in this Form 10-KSB. However, this list
is not intended to be  exhaustive;  many other factors could impact our business
and it is impossible to predict with any accuracy  which factors could result in
which negative impacts. Although we believe that the forward-looking  statements
contained  in this Form 10-KSB are  reasonable,  we cannot  provide you with any
guarantee that the  anticipated  results will be achieved.  All  forward-looking
statements in this Form 10-KSB are expressly  qualified in their entirety by the
cautionary  statements  contained in this section and you are  cautioned  not to
place undue reliance on the  forward-looking  statements  contained in this Form
10-KSB.  In addition  to the risks  listed  above,  other risks may arise in the
future,  and we disclaim any obligation to update  information  contained in any
forward-looking statement.

ITEM 1. DESCRIPTION OF BUSINESS

BUSINESS

GENERAL

Coach  Industries  Group,  Inc.  (the  "Company" or "CIGI"),  formerly  known as
Searchhound.com, was organized as a Nevada corporation in 2000, and is currently
headquartered in Coral Springs, Florida.

SearchHound.com,  Inc.,  the  predecessor  to CIGI, is the result of the June 1,
2000  merger  of  Pan  International  Gaming,  Inc.  ("Pan  International")  and
Searchound.com  2000 Ltd. This transaction was treated as a "reverse merger" for
financial accounting and reporting purposes.


<PAGE>


The "reverse  merger" with  Searchound.com  2000 Ltd. was consummated on June 1,
2000.  In  fiscal  2000 and prior to June 1,  2000,  Pan  International  was not
engaged  in  operating  activities  and  there  were  no  revenues  or  business
operations.  Immediately  following  the reverse  merger with PAN  International
changed its name to SearchHound.com, Inc. effective June 6, 2000.

In 2002,  the  Company's  Board of  Directors  changed its  strategy due to poor
operating  conditions and operating  results in its primary  businesses  coupled
with difficulties in raising capital through debt and equity sources.  The Board
of  Directors  adopted the new  strategy  during  2002,  which  committed to the
disposal   of  all   of   its   current   assets/businesses   and   to   seek  a
merger/acquisition transaction with a company having better financial resources.

The Company  consummated  the following  transactions  in order to implement the
Board of Director's  committed plan to restructure the Company and seek a merger
candidate:

o     The  Company's  Board of Directors  approved a one for  sixty-seven  share
      reverse stock split.  The split is for  shareholders of record on December
      27, 2002 and was effective on December 30, 2002. The financial  statements
      disclosed  in the  Company's  filings  with the  Securities  and  Exchange
      Commission reflect this reverse stock split on retroactive basis.

o     On January 3, 2003 the Company entered into an asset sale agreement, which
      sold the following assets of the Company to Solutions.com,  LLC, an entity
      controlled  by a director  and acting  Chief  Executive  Officer:  certain
      domains,  customer  lists,  email names and  addresses  (for each  domain)
      software,  programming code,  intellectual  property (for each domain) and
      certain computer and office equipment.

o     On January 3, 2003 the Company also entered into an asset sale  agreement,
      which  sold  the   following   assets  of  the  Company  to  Summit  Ridge
      Technologies  Group,  LLC (an  unaffiliated  entity):  EarlyBirdDomain.com
      domain,  database  for   EarlyBirdDomain.com   including  all  subscribers
      (active, inactive, and unsubscribed),  and EarlyBirdDomain.com clients and
      customers lists.

o     During  January 2003,  the Company  partially  settled a note payable to a
      related   party  whereby  it  issued  3,655  shares  of  common  stock  in
      consideration  for a  $20,000  reduction  in the  principal  balance  (and
      related accrued interest). The settlement of this note payable resulted in
      a gain of $17,076  based upon the market  value of the common stock at the
      date issued and was classified as gain on settlement of notes and accounts
      payable during the year ended December 31, 2003.

o     During January 2003, the Company settled a note payable to a related party
      whereby it issued 20,155 shares of common stock in  consideration  for the
      full and complete  settlement of the  outstanding  principal  balance (and
      related accrued interest aggregating $33,795). The settlement of this note
      payable  resulted in a gain of $109,541 based upon the market value of the
      common stock at the date issued and was  classified  as gain on settlement
      of notes and accounts  payable in the Statement of  Operations  during the
      year ended December 31, 2003.

o     During  January  2003,  the  Company  settled  a note  payable  to a trade
      creditor  whereby it issued  4,820 shares of common stock held in treasury
      and  13,562  shares  of  common  stock in  consideration  for the full and
      complete  settlement of the outstanding  note balance (and related accrued
      interest).  The  settlement  of this note  payable  resulted  in a gain of
      $56,970 based upon the market value of the common stock at the date issued
      and was classified as gain on settlement of notes and accounts  payable in
      the Statement of Operations for the year ended December 31, 2003.

o     As of  March  31,  2003,  the  Company  disposed  of all of its  operating
      assets/businesses  and  ceased all  operating  activities.  The  financial
      statements  disclosed in the  Company's  filings with the  Securities  and
      Exchange   Commission   reflect  the  businesses   sold  as   discontinued
      operations.

o     In March 2003, the Company  increased the shares available to be issued by
      62,500.  The Company  issued  common stock to employees,  consultants  and
      members of the Board of Directors for services rendered to the Company.

o     During March 2003,  the Company  issued 62,500 shares to  consultants  for
      administrative, corporate accounting and public relations services in lieu
      of cash compensation totaling $75,000 which was reflected in the statement
      of operations for the year ended December 31, 2003.

o     On May 31, 2002, the Company entered into an asset sale  agreement,  which
      sold certain assets related directly with two of the Company's  subsidiary
      operations  (Mesia.com  and  SpeakGlobally.com)  to a former  officer  and
      director of SearchHound.com, Inc.


<PAGE>


On July 10, 2003, the Company's sole officer and director resigned his positions
as President,  Secretary,  Treasurer  and sole  Director and  appointed  Francis
O'Donnell as the sole  director.  Francis  O'Donnell,  as the sole member of the
Board of Directors of the Company, has approved the change of the address of the
corporate  office of the Company from Overland  Park,  Kansas to Coral  Springs,
Florida.

On  August  26,  2003,  the  Company  effected  a  1-for-4  stock  split of each
outstanding  share of common stock.  The financial  statements  disclosed in the
Company's  filings  with the  Securities  and Exchange  Commission  reflect this
reverse stock split on retroactive basis.

PLAN OF OPERATION

The Company is the  currently  the  holding  company  for two  manufacturers  of
limousines,  primarily for the livery industry which modify and custom fabricate
stock vehicles that are  manufactured by automotive  manufacturers,  principally
General Motors and Ford Motor  Company.  During 2003, the Company had two wholly
owned  subsidiaries:   Commercial   Transportation   Manufacturing   Corporation
("CTMC"),  located at the in Bohemia,  New York and Springfield Coach Industries
Corporation,  Inc.  ("SCB"),  located in  Springfield,  Missouri.  The Company's
long-term strategy is to acquire companies that will provide financial and other
similar  services to its existing  customers and to expand its current  customer
base.

The business  strategy of the Company  currently is to further diversify product
lines and develop innovative design,  engineering and manufacturing expertise in
order  to be  the  best  value  producer  of  custom  vehicle  products  in  the
marketplace.  The  Company  sells its  custom  limousine  chassis  to  limousine
companies principally in New York, Florida and throughout the United States. The
Company markets its limousines through tradeshows, print and direct marketing to
limousine operators. The Company is focusing on certain custom niches within its
geographical  markets and believes that  opportunities  for growth remain strong
for modified limousine chassis.

The Company has an  innovative  team focused on building  lasting  relationships
with its customers.  This is  accomplished  by striving to deliver  vehicles and
services that management believes will inspire customer enthusiasm.  The Company
believes  that it can best  carry out its  long-term  business  plan and  obtain
optimal  financial  flexibility by using a combination  of borrowings  under the
Company's  credit  facilities,  as well as internally  or  externally  generated
equity capital,  as sources of expansion  capital.  The Company  currently has a
$1.6 million  floor plan  facility for CTMC  through a local  dealership  and in
early 2004 the Company  expects to secure a $3.0 million floor plan facility for
SCB through Ford Motor Company.

On  September  1,  2003,   CTMC,  a  New  York   corporation   specializing  the
manufacturing and selling of limousines, was merged into Coach Industries Group,
Inc. The Company issued 3 million shares of common stock valued at $1.35 million
as of August 26, 2003.

Effective  December 31, 2003, the Company,  through its wholly owned subsidiary,
Springfield  Coach  Industries   Corporation,   Inc.,  a  Missouri  corporation,
consummated the purchase of substantially all of the assets of Springfield Coach
Builders,  Inc. The Company  issued 2.0 million shares of common stock valued at
$2.7 million as of November 3, 2003.

As of August 26, 2003, the Company  reserved 1.6 million  shares,  valued at .45
cents  per  share,  for the  purpose  of using  as  agreed  consideration  for a
potential  transaction.  The  shares  shall  vest on the  effective  date of the
aforementioned  potential  transaction.  The shares are issued and classified as
treasury stock as of December 31, 2003.

SEASONALITY

The limousine  business is somewhat  seasonal,  whereby most  purchases are made
during the second and fourth quarters of the fiscal year. The plants close for a
week in July and a week in  December.  The  Company  plans on  diversifying  its
business to mitigate some of the seasonality of the current operations.

EMPLOYEES

As of December 31, 2003,  the Company  employed 80 full-time  employees  and two
part-time  employees,  four of whom are  sales  personnel,  12 (2 are  part-time
employees) of which are managers and administrative  personnel and 65 of who are
direct manufacturing personnel.  Employees of the Company are not represented by
labor unions.  The Company  considers its relationship  with its employees to be
good.

ITEM 2. DESCRIPTION OF PROPERTIES

Effective  January 1, 2002, the Company  entered two separate  lease  agreements
with  officers  and  directors  of the Company to lease space to be utilized for
office  purposes at a rate  totaling  $5,134 per month.  The initial term of the
lease was one year with a two-year renewal option (at the Company's option) at a
rate totaling $10,000 a month. Rental expense totaled $28,397 for the year ended
December 31, 2002. The agreement was terminated  effective with his  resignation
on May 31, 2002. The second agreement was terminated on January 3, 2003.

<PAGE>


Pursuant to the acquisition of CTMC, the Company is a party to a  non-cancelable
operating  lease  pertaining  to the  office  and plant  facilities  located  in
Bohemia,  New York. The facility is approximately  30,000 square feet. The lease
term,  as amended,  expires in December  2007 with  payments  commencing in July
2003. The lease is to a related party.

Current and future minimum  rental  payments under the lease for the years ended
are as follows:

   Year Ending December 31,      Annual Payments
   ------------------------      ---------------
                   2004         $         288,000
                   2005                   288,000
                   2006                   288,000
                   2007                   288,000
                              --------------------
                                $       1,152,000
                              ====================

Effective  December 31, 2003, the Company acquired the assets and liabilities of
Springfield  Coach  Industries  Corporation,  Inc. and assumed a lease agreement
dated August 1, 2001,  whereby the Company will occupy a manufacturing  facility
with   approximately   35,000   square  feet  and  a  warehouse   facility  with
approximately 16,000 square feet for $11,000 a month, expiring on July 31, 2006.
The lease  agreement  has five two year  renewal  options.  Current  and  future
minimum rental payments under the lease for the years ended are as follows:

           2004      $           132,000
           2005                  132,000
           2006                   77,000
                     --------------------
                     $           341,000
                     ====================

In August 2003, the Company  relocated their corporate offices to Coral Springs,
Florida. The Company does not pay rent for this office space.

ITEM 3. LEGAL PROCEEDINGS

Certain claims,  suits and complaints  arising in the normal course with respect
to the  Company's  services  have been filed or are pending  against the Company
including  its  subsidiaries.  Generally,  these  matters  are all  covered by a
general liability insurance policy. In the opinion of management, the resolution
of all  such  matters  would  not have a  significant  effect  on the  financial
position,  results of  operations  or cash flows of the Company,  if disposed of
unfavorably.

 ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

On August 22, 2003, the Shareholders effected a 1-for-4 reverse stock split. The
principal  effect  of the  reverse  split  will be that the  number of shares of
Common Stock issued and  outstanding  was reduced  from  1,088,159  shares as of
August 25, 2003 to approximately 272,039 shares. The number of authorized shares
of common stock was not affected.

On August 22, 2003,  the Company held its Annual  Meeting of  Shareholders.  The
Shareholders  elected  Mr.  Francis  O'Donnell  to serve as  director  until the
Company's  Annual Meeting of stockholders in 2004. The  Shareholders  effected a
1-for-4  reverse stock split (pro-rata  reduction of outstanding  shares) of the
Company's  issued  and  outstanding  shares of common  stock.  The  Shareholders
amended  the  Company's  Articles  of  Incorporation  to change  the name of the
Company to Coach Industries Group, Inc. A majority of the issues and outstanding
shares  voted in favor  of the  resolutions,  no votes  were  cast  against  the
resolutions, and there were no abstentions.


<PAGE>

                                     PART II

        ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

Market Information

The Company's Common Stock is quoted on the NASD's OTC Bulletin Board electronic
system under the ticker symbol CIGI, effective August 2003, formally SHND.

The  following  table sets forth the  quarterly  high and low bid prices for the
Company's  Common Stock during the years ended December 31, 2003 and 2002. These
prices have been adjusted to reflect the1 for 67  reverse-stock  split which was
effective  on  December  30,  2002  and the one for  four  reverse  stock  split
effective on August 25, 2003.  Quotations  set forth below reflect  inter-dealer
prices,  without retail mark-up,  markdown or commission,  and may not represent
actual transactions.

         Year            Quarter                     High                 Low
------------------------------------------------------------------------------
         2003            Jan-Mar                     2.60                 .80
         2003            Apr-Jun                     2.68                1.12
         2003            Jul-Sep                     2.04                1.00
         2003            Oct-Dec                     1.84                1.10
         2002            Jan-Mar                    14.20                5.64
         2002            Apr-Jun                     9.40                1.36
         2002            Jul-Sep                     2.68                0.01
         2002            Oct-Dec                     2.68                0.40



As of December  31, 2003 there were  approximately  250 holders of record of the
Registrant's common stock.

During the years  ended  December  31,  2003 and 2002;  the  Registrant  did not
declare or pay any cash dividends.  Management and the Board of Directors do not
anticipate  the payment of cash dividends  within the  foreseeable  future.  The
Company's Board of Directors  approved a one for sixty-seven share reverse stock
split  effective  on December  30, 2002 and a one for four  reverse  stock split
effective on August 26, 2003. The accompanying  financial statements and related
disclosures reflect this reverse stock split on retroactive basis.

Recent Sales of Unregistered Securities

For the year ended  December 31, 2003,  the Company issued 9.5 million shares of
its common stock as follows:

            On  August  26,  2003,   the  Company   issued   3,000,000   million
unregistered shares of common stock issued for the purchase of CTMC. The Company
believes that the transaction was exempt from registration  pursuant to Rule 506
and  Section  4(2) of the  Securities  Act as a  transaction  by an  Issuer  not
involving a public  offering  as the  recipient  had  sufficient  knowledge  and
experience  in financial  and business  matters that it was able to evaluate the
merits and risks of an investment  in the Company,  it had access to the type of
information  normally  provided in a prospectus,  and since the  transaction was
non-recurring and privately negotiated.

            On August 26, 2003, the Company issued 1,800,000 million  registered
shares issued to consultants for past and present services. The Company believes
that the  transaction  was exempt  from  registration  pursuant  to Rule 506 and
Section 4(2) of the Securities Act as a transaction by an Issuer not involving a
public  offering as the recipient  had  sufficient  knowledge and  experience in
financial and business matters that it was able to evaluate the merits and risks
of an  investment  in the  Company,  it had  access  to the type of  information
normally  provided in a prospectus,  and since the transaction was non-recurring
and privately negotiated.

            On August 26, 2003, the Company issued 433,333  unregistered  shares
of common stock issued to settle notes and accounts  payable  totaling  $65,000.
The Company believes that the transaction was exempt from registration  pursuant
to Rule 506 and Section 4(2) of the Securities Act as a transaction by an Issuer
not involving a public  offering as the recipient had  sufficient  knowledge and
experience  in financial  and business  matters that it was able to evaluate the
merits and risks of an investment  in the Company,  it had access to the type of
information  normally  provided in a prospectus,  and since the  transaction was
non-recurring and privately negotiated.

<PAGE>


            On August 26, 2003, the Company issued 677,333  unregistered  shares
of common stock issued to settle accounts payable totaling $101,000. The Company
believes that the transaction was exempt from registration  pursuant to Rule 506
and  Section  4(2) of the  Securities  Act as a  transaction  by an  Issuer  not
involving a public  offering  as the  recipient  had  sufficient  knowledge  and
experience  in financial  and business  matters that it was able to evaluate the
merits and risks of an investment  in the Company,  it had access to the type of
information  normally  provided in a prospectus,  and since the  transaction was
non-recurring and privately negotiated.

            On  September  15, 2003,  the Company  issued  100,000  unregistered
shares issued for consulting  services,  which were cancelled effective December
31, 2003. The Company believes that the transaction was exempt from registration
pursuant to Rule 506 and Section 4(2) of the  Securities Act as a transaction by
an Issuer not  involving  a public  offering  as the  recipient  had  sufficient
knowledge and  experience in financial and business  matters that it was able to
evaluate the merits and risks of an investment in the Company,  it had access to
the type of  information  normally  provided  in a  prospectus,  and  since  the
transaction was non-recurring and privately negotiated.

            On November  13, 2003,  the Company  issued  2,000,000  unregistered
shares issued for the purchase of Springfield Coach Industries Corporation, Inc.
effective  December 31, 2003.  The Company  believes  that the  transaction  was
exempt from registration pursuant to Rule 506 and Section 4(2) of the Securities
Act as a  transaction  by an  Issuer  not  involving  a public  offering  as the
recipient  had  sufficient  knowledge  and  experience in financial and business
matters  that it was able to evaluate the merits and risks of an  investment  in
the Company,  it had access to the type of  information  normally  provided in a
prospectus,   and  since  the  transaction  was   non-recurring   and  privately
negotiated.

            On August 26, 2003, the Company issued 1,600,000 unregistered shares
issued into  treasury for the  consideration  for a potential  transaction.  The
Company believes that the transaction was exempt from  registration  pursuant to
Rule 506 and Section 4(2) of the  Securities  Act as a transaction  by an Issuer
not involving a public  offering as the recipient had  sufficient  knowledge and
experience  in financial  and business  matters that it was able to evaluate the
merits and risks of an investment  in the Company,  it had access to the type of
information  normally  provided in a prospectus,  and since the  transaction was
non-recurring and privately negotiated.

For the year ended  December 31,  2002,  the Company  issued  254,850 (not split
adjusted) shares of its common stock as follows:

            The Company issued 1,492 unregistered  shares were issued to members
of the  Board of  Directors  (746  shares  to each of 2  members)  for  services
rendered. The Company believes that the transaction was exempt from registration
pursuant to Rule 506 and Section 4(2) of the  Securities Act as a transaction by
an Issuer not  involving  a public  offering  as the  recipient  had  sufficient
knowledge and  experience in financial and business  matters that it was able to
evaluate the merits and risks of an investment in the Company,  it had access to
the type of  information  normally  provided  in a  prospectus,  and  since  the
transaction was non-recurring and privately negotiated.

            The Company  issued 16,418 shares were issued to the officers of the
Company in lieu of cash compensation.  The Company believes that the transaction
was  exempt  from  registration  pursuant  to Rule 506 and  Section  4(2) of the
Securities Act as a transaction by an Issuer not involving a public  offering as
the recipient had sufficient  knowledge and experience in financial and business
matters  that it was able to evaluate the merits and risks of an  investment  in
the Company,  it had access to the type of  information  normally  provided in a
prospectus,   and  since  the  transaction  was   non-recurring   and  privately
negotiated.

            The  Company  issued  1,120  unregistered   shares  were  issued  to
employees  and  consultants  of the  Company in lieu of cash  compensation.  The
Company believes that the transaction was exempt from  registration  pursuant to
Rule 506 and Section 4(2) of the  Securities  Act as a transaction  by an Issuer
not involving a public  offering as the recipient had  sufficient  knowledge and
experience  in financial  and business  matters that it was able to evaluate the
merits and risks of an investment  in the Company,  it had access to the type of
information  normally  provided in a prospectus,  and since the  transaction was
non-recurring and privately negotiated.

            The Company  issued  223,880  shares of common  stock were issued to
treasury  and serve as  collateral  for Note  payable  to a related  party.  The
Company believes that the transaction was exempt from  registration  pursuant to
Rule 506 and Section 4(2) of the  Securities  Act as a transaction  by an Issuer
not involving a public  offering as the recipient had  sufficient  knowledge and
experience  in financial  and business  matters that it was able to evaluate the
merits and risks of an investment  in the Company,  it had access to the type of
information  normally  provided in a prospectus,  and since the  transaction was
non-recurring and privately negotiated.

            The  Company  issued  11,940  shares  were  issued  to a law firm as
compensation for legal services performed on behalf of the Company.  The Company
believes that the transaction was exempt from registration  pursuant to Rule 506
and  Section  4(2) of the  Securities  Act as a  transaction  by an  Issuer  not
involving a public  offering  as the  recipient  had  sufficient  knowledge  and
experience  in financial  and business  matters that it was able to evaluate the
merits and risks of an investment  in the Company,  it had access to the type of
information  normally  provided in a prospectus,  and since the  transaction was
non-recurring and privately negotiated.

<PAGE>


A total of 29,851 shares of common stock was returned and cancelled during 2002,
pursuant to the  settlement  agreement  with Brett Warner  relative to a lawsuit
involving the Company's investment in JobBankUSA.

For the period ended December 31, 2001, the Company issued 8,463,205 shares (not
split adjusted) as follows:

            The  Company  issued  1,700,000  unregistered  shares were issued to
shareholders  of  Godado  UK,  Ltd.,  FreeAirMiles,   Inc.,  MoneyMessage,  LLC,
FastCashOffers.com and EarlyBirdDomain.com,  Mesia.com, Inc. and Speak Globally,
LLC. The Company  believes  that the  transaction  was exempt from  registration
pursuant to Rule 506 and

 Section 4(2) of the  Securities Act as a transaction by an Issuer not involving
a public  offering as the recipient had  sufficient  knowledge and experience in
financial and business matters that it was able to evaluate the merits and risks
of an  investment  in the  Company,  it had  access  to the type of  information
normally  provided in a prospectus,  and since the transaction was non-recurring
and privately negotiated.

            The Company issued  2,000,000  shares were issued to the shareholder
of JobBank USA, Inc. for the acquisition of 49% of its common stock. The Company
believes that the transaction was exempt from registration  pursuant to Rule 506
and  Section  4(2) of the  Securities  Act as a  transaction  by an  Issuer  not
involving a public  offering  as the  recipient  had  sufficient  knowledge  and
experience  in financial  and business  matters that it was able to evaluate the
merits and risks of an investment  in the Company,  it had access to the type of
information  normally  provided in a prospectus,  and since the  transaction was
non-recurring and privately negotiated.

            The Company issued 566,658  unregistered shares were issued pursuant
to a Private  Placement  memorandum during the year ended December 31, 2001. The
Company believes that the transaction was exempt from  registration  pursuant to
Rule 506 and Section 4(2) of the  Securities  Act as a transaction  by an Issuer
not involving a public  offering as the recipient had  sufficient  knowledge and
experience  in financial  and business  matters that it was able to evaluate the
merits and risks of an investment  in the Company,  it had access to the type of
information  normally  provided in a prospectus,  and since the  transaction was
non-recurring and privately negotiated.

<PAGE>

ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS

GENERAL

THE FOLLOWING DISCUSSION OF THE FINANCIAL CONDITION AND RESULTS OF OPERATIONS OF
THE COMPANY  SHOULD BE READ IN  CONJUNCTION  WITH THE FINANCIAL  STATEMENTS  AND
NOTES THERETO INCLUDED ELSEWHERE IN THIS REPORT.

THIS  DISCUSSION  CONTAINS  FORWARD-LOOKING  STATEMENTS  THAT INVOLVE  RISKS AND
UNCERTAINTIES,  THE COMPANY'S  ACTUAL RESULTS MAY DIFFER  MATERIALLY  FROM THOSE
ANTICIPATED IN THESE FORWARD-LOOKING  STATEMENTS AS A RESULT OF CERTAIN FACTORS,
INCLUDING, BUT NOT LIMITED TO COMPETITION AND OVERALL MARKET CONDITIONS.

                      FOR THE YEAR ENDED DECEMBER 31, 2003
                          COMPARED TO DECEMBER 31, 2002

Gross Revenues and Costs of Operations

GROSS REVENUES.  Gross revenues  increased from zero for the year ended December
31,  2002 to  $471,762  for the year ended  December  31,  2003,  an increase of
$471,762,  primarily  as a  result  of  the  Company  acquiring  CTMC  effective
September 1, 2003 and the gross revenues for the period reflect revenues through
December 31, 2003 from CTMC.

COSTS OF GOODS SOLD.  Costs of goods sold increased from zero for the year ended
December 31, 2002 to $647,574 for the year ended  December 31, 2003, an increase
of $647,574,  as a result of the Company  acquiring CTMC effective  September 1,
2003 and the costs of goods sold for the period  reflect costs through  December
31, 2003.

OPERATING  EXPENSES.  Operating  expenses  increased  from $219,815 for the year
ended December 31, 2002 to $1.5 million for the year ended December 31, 2003, an
increase of $1.3 million.

General and  administrative  expenses increased from $110,807 for the year ended
December 31, 2002 to $486,626 for the year ended  December 31, 2003, an increase
of $375,819, primarily due to increase in general and administrative expenses as
a result of the  Company  acquiring  CTMC  effective  September  1, 2003 and the
general and  administrative  expenses for the period  reflect  expenses  through
December 31, 2003. In addition,  the Company incurred  expenses  associated with
securing a merger candidate.

Depreciation and amortization expense decreased from $479,745 for the year ended
December 31, 2002 to  amortization  of deferred rent ($9,600) for the year ended
December 31, 2003, a decrease of $469,875,  primarily as a result of the Company
disposing  of all of  its  operating  assets/businesses  and  discontinuing  all
operating activities. The depreciation and amortization expense is classified as
discontinued  operations  in the  statement  of  operations  for the year  ended
December 31, 2002.

Loss on  reduction  of trade  payable  increased  from a zero for the year ended
December 31, 2002 to a $94,118 for the year ended December 31, 2003, an increase
of  $94,118,  primarily  due to the  Company  issuing  shares of stock to settle
certain liabilities.

Impairment  charges  decreased from $4.3 million for the year ended December 31,
2002 to zero for the year ended  December 31, 2003, a decrease of $4.3  million,
primarily  as a  result  of the  Company  disposing  of  all  of  its  operating
assets/businesses  and  discontinuing all operating  activities.  The impairment
charge was included in  discontinued  operations  in the statement of operations
for the year ended December 31, 2002.

During  January 2003, the Company issued an aggregate of 95,024 shares of common
stock  in  consideration  for the  cancellation  of  outstanding  notes  payable
approximating $175,000, accrued interest approximating $22,850 and accrued wages
payable of $114,500.

On March 3, 2003, the Company filed a Registration  Statement,  which  increased
the shares available to be issued by 62,500. The Registration Statement provides
the Company  common  stock for  issuance  to  employees,  consultants  and Board
Members  for  services  rendered  to the  Company.  The  Registration  Statement
authorizes  the issuance of common stock for  services,  provides for a grant of
incentive  stock  options,   non-qualified  stock  options,   restricted  stock,
performance grants and other types of awards to officers,  key employees,  board
members,  consultants and independent  contractors of the Company.  During March
2003,  the Company  issued  62,500  shares to  consultants  for  administrative,
accounting  and  public  relations   services  in  lieu  of  cash   compensation
aggregating $75,000.

<PAGE>


During the year ended  December 31, 2003,  the Company  issued  shares or common
stock to various related  parties for future  consulting  services.  The Company
recognized  $810,000 of amortization of deferred  compensation  relating to this
issuance.  During the year ended December 31, 2002, there was no amortization of
deferred compensation. The total value of these agreements is $810,000 to settle
past services,  as well as future  services to the Company which was included in
amortization  of deferred  compensation  for the year ended  December  31, 2003.
Included in the $810,000 was $260,000 for past services rendered.  The shares of
common stock were issued to these  individuals  with a three month  restriction.
The  agreements are for  consulting  services for periods  between 6 months to 2
years.

INCOME (LOSS) FROM  DISCONTINUED  OPERATIONS.  Income  (loss) from  discontinued
operations  improved from $4.6 million loss for the year ended December 31, 2002
to $135,100  income for the year ended December 31, 2003, an improvement of $4.7
million,  primarily due to the Company  completing  its plan of disposal in 2002
and early 2003.

NET INCOME  (LOSS).  Net loss  decreased  from $4.8  million  for the year ended
December  31,  2002 to $1.6  million  for the  year  ended  December  31,  2003,
primarily due to the Company reducing its expenses as a consequence of disposing
of  all of its  operating  assets/businesses  and  discontinuing  all  operating
activities  and realizing a gain on settlement of accounts and notes payable and
a gain on  disposal  of assets,  offset by a loss of  $401,000  relating  to the
operations  of CTMC for the  period  and  expenses  relating  to the  consulting
agreement  totaling  $810,000  and  the  remaining  expenses  associated  to the
operating expenses relating to the operations of CIGI.

                      FOR THE YEAR ENDED DECEMBER 31, 2002
                  COMPARED TO THE YEAR ENDED DECEMBER 31, 2001

During 2002, the Board of Directors approved a change in the Company's strategic
direction,   because  of  significant  operating  losses,  continued  cash  flow
challenges,  its  depressed  stock price and  difficulties  raising  debt/equity
capital faced by all companies and  specifically  the high technology  industry.
The Board  committed  the Company to a plan which would  include the disposal of
all operating  businesses,  the reduction of cash operating costs, the reduction
of outstanding debt through the exchange of stock or other  nonmonetary  assets,
and to seek a merger  opportunity  with  another  company  with  more  financial
resources than the Company currently has available. As of December 31, 2002, the
Company  has  disposed  of most  of its  operating  businesses  and  ceased  all
operating activities.  The businesses that have not been disposed of at December
31, 2002,  have been reduced to their  estimated  fair value.  The  consolidated
financial  statements  reflect the businesses sold or to be sold as discontinued
operations as of December 31, 2002 and retroactively for the year ended December
31,  2001.  Revenues  attributable  to the  discontinued  operations  aggregated
$1,103,041  and  $257,927  for the  years  ended  December  31,  2001 and  2002,
respectively.  Net losses attributable to the discontinued operations aggregated
$13.5  million and $4.6 million for the years ended  December 31, 2001 and 2002,
respectively. During January 2003, all remaining businesses have been disposed.

The Company  consummated  the following  transactions  in order to implement the
plan:

On May 31, 2002 the Company  entered  into an asset sale  agreement,  which sold
certain assets related directly with two of the Company's subsidiary  operations
(Mesia.com and SpeakGlobally.com) to an officer and director of the Company. The
net book value of the net assets  sold  approximated  $52,750.  Pursuant  to the
asset sale agreement the Company agreed to transfer such assets in settlement of
the  following:   1)  an  employment  agreement,   2)  all  accrued  but  unpaid
compensation which approximated $100,000, and 3) a promissory note in the amount
of $285,000.

In addition,  the Company  agreed to pay $7,500 in cash, in exchange for, and in
sole  consideration and settlement of any other liabilities that may exist as of
May 31, 2002,  including the  liabilities  that accrue  pursuant to a Promissory
Note with a  principle  amount of  $147,030,  and any  liability  that may exist
pursuant to the Employment Agreement. The net effect of the sale of these assets
was a gain  of  $446,430,  which  was  classified  as a gain  from  disposal  of
discontinued  operations  in the  Statement  of  Operations  for the year  ended
December 31, 2002.

Concurrent with the asset sale agreement this director  tendered his resignation
from the Company.

During 2002,  the Board  terminated an employment  contract  whereby,  under the
settlement salary ceased accruing on August 15, 2002 and the severance provision
was  forgiven.  It was  replaced  with a  consulting  agreement  whereby he will
continue in his position as acting chief executive  officer of the Company.  The
agreement calls for the following:  1) contract  outsourced services to maintain
selected ongoing operations of the Company, 2) attempt to sell the assets of the
Company and 3) focus on a merger opportunity for the Company. On January 3, 2003
the  Company  entered  into an asset sale  agreement,  which sold the  following
assets of the Company to Solutions.com,  LLC, an entity controlled by an officer
and director of the Company:

      a.    Certain domains including: www.searchhound.com,  www.solosearch.com,
            www.godado.co.uk, www.freeairmiles.com, and www.moneymessage.com ,

<PAGE>


      b.    Customer  lists,  email  names and  addresses  (for each  domain)

      c.    Software,  programming code, intellectual property (for each domain)

      d.    Certain computer and office equipment

The net book value of the net assets sold approximated  $8,000.  Pursuant to the
asset sale agreement the Company agreed to transfer such assets in settlement of
the remaining  outstanding  principal  balance owed by the Company pursuant to a
Promissory Note with a principle  balance of $179,359  together with all accrued
but unpaid interest.  Previously, the Company had made partial reductions to the
unpaid note balance by the issuance of 45,323  shares of  SearchHound.com,  Inc.
common stock and a cash payment of $7,500.

In addition,  the former  Chief  Executive  Officer  agreed to cancel the rental
payments owed to him by the Company for its use of web hosting and office space.
On January 3, 2003 the Company also entered into an asset sale agreement,  which
sold the following assets of the Company to an unaffiliated entity:

a.    EarlyBirdDomain.com domain,

b.    Database  for  EarlyBirdDomain.com   including  all  subscribers  (active,
      inactive, and unsubscribed), and

c.    EarlyBirdDomain clients, customers

The net book value of the net assets  sold  approximated  zero as of the date of
sale.  Pursuant to the asset sale  agreement the Company agreed to transfer such
assets in exchange for nominal cash consideration.

The Company's Board of Directors  approved a one for  sixty-seven  share reverse
stock split.  The split is for  shareholders  of record on December 27, 2002 and
was effective on December 30, 2002. In addition,  the Company effected a one for
four reverse stock split effective  August 26, 2003.The  consolidated  financial
statements reflect this reverse stock split on retroactive basis.

OPERATING EXPENSES  Operating  expenses consists primarily of legal,  accounting
and investor  relations costs that are associated with the company continuing as
a public  reporting  entity.  The increase in such costs  ($41,974) from 2001 as
compared  to 2002,  reflect  the  legal  costs  associated  with the  JobBankUSA
litigation and the Company's proxy costs in 2002. Management believes such costs
will be minimal in 2003 as a result of the  Company's  disposal of its operating
businesses and lack of litigation.

Other income (expense)  primarily consists of interest expense,  impairment loss
on marketable  securities  and equity in income of  nonconsolidated  subsidiary.
Interest  expense  declined  $2,762  during 2002 as  compared to 2001,  which is
attributable  to the  cancellation of notes as a result of the sale of Mesia.com
and SpeakGlobally.com to Brad Cohen, which occurred May 31, 2002.

During  2002,  the  Company  recorded a  permanent  impairment  with  respect to
Globalnet  Financial.com,  Inc.  common  stock,  which  was its only  marketable
security and recorded a loss of $68,954 in the year ended December 31, 2002. The
equity in earnings of an  unconsolidated  subsidiary  represents  the  Company's
investment in JobBankUSA,  Inc., which was terminated during 2002 as a result of
the  settlement of a lawsuit The Company's  investment in marketable  securities
has been reduced to zero at December 31, 2002 as a result of the impairment loss
recognized in 2002.

DISCONTINUED  OPERATIONS  Loss  from  discontinued  operations  aggregated  $5.1
million  in 2002 as  compared  to  $13.5  million  2001,  which  represents  the
operating  results of the Company's  operating  businesses.  Such losses include
impairment  charges  totaling  $4.3  million  in 2002 and $8.7  million  in 2001
related  to  the  write-down  of  goodwill   associated  with  the  discontinued
businesses. In addition, depreciation and amortization expenses totaled $469,885
in 2002 and $4.1 million in 2001  related to the  discontinued  businesses.  Net
assets held for sale have been reduced to their  estimated net realizable  value
at December 31, 2002.

Gain from disposal of discontinued  operations  totaled  $446,430 in 2002, which
resulted from the disposal of Mesia.com and  SpeakGlobally.com  on May 31, 2002.
In exchange for these  operating  businesses,  and $7,500 cash,a former director
and officer agreed to cancel:  1)his  employment  agreement,  2) all accrued but
unpaid  compensation  approximating  $100,000,  3) a  promissory  note  with  an
outstanding  principal  balance of  $285,000  together  with  accrued but unpaid
interest  and 4) a  promissory  note with an  outstanding  principal  balance of
$147,030  together  with  accrued  but unpaid  interest.  The net effect of this
transaction was classified as a gain from disposal of discontinued operations of
$446,430 during 2002.

NET LOSS. As a result of the factors described above, the Company incurred a net
loss of $4.8 million or ($42.76) per basic and diluted  share for the year ended
December 31,  2002,  compared to a net loss of $13.6  million or  ($137.40)  per
basic and diluted share for year ended December 31, 2001.

<PAGE>


LIQUIDITY AND CAPITAL RESOURCES. The Company has historically satisfied its cash
requirements  primarily  through private  placements of restricted stock and the
issuance of debt securities.  In addition,  the Company plans on converting some
of its related party  payables to common stock in an effort to conserve its cash
resources.

The Company  anticipates that its cash requirements will continue to increase as
it  continues  to expend  substantial  resources  to build  its  infrastructure,
develop  its  business  plan and  establish  its  sales  and  marketing  network
operations,  customer  support  and  administrative  organizations.  The Company
currently  anticipates that its available cash resources and cash generated from
operations will be sufficient to meet its presently  anticipated working capital
and capital expenditure  requirements for the next twelve months. If the Company
is unable to maintain  profitability,  or seeks  further  expansion,  additional
funding will become  necessary.  There can be no assurances that the Company can
realize sufficient revenues to satisfy its business plan and further,  there can
be no assurance that alternative  sources of financing can be procured on behalf
of the Company.

Effective  November 10, 2003, the Company,  through its wholly owned subsidiary,
Springfield  Coach  Industries   Corporation,   Inc.,  a  Missouri  corporation,
consummated the purchase of substantially all of the assets of Springfield Coach
Builders, Inc.

As of August 26, 2003, the Company reserved 1.6 million shares,  valued at $0.45
cents  per  share,  for the  purpose  of using  as  agreed  consideration  for a
potential  transaction.  The  shares  shall  vest on the  effective  date of the
aforementioned potential transaction.

In addition, Management continues to evaluate various business opportunities for
future expansion and diversification.

ASSETS

CASH AND CASH EQUIVALENTS.  Cash and cash equivalents  increased from $14,790 at
December  31,  2002 to $91,565 at  December  31,  2003,  an increase of $76,775,
primarily as a result of the Company acquiring CTMC effective  September 1, 2003
and SCB effective December 31, 2003.

SUPPLY INVENTORY.  Supply inventory  increased from zero at December 31, 2002 to
$1.3 million at December 31, 2003, an increase of $1.3  million,  primarily as a
result of the Company  acquiring  SCB,  effective  December  31,  2003  totaling
$946,567.  In addition,  CTMC acquired  approximately  $133,000 of raw materials
inventory  effective  December 31, 2003 as part of a  settlement  with a related
party.

TOTAL CURRENT  ASSETS.  Total current assets  increased from $22,790 at December
31, 2002 to $1.5  million at December  31,  2003,  an increase of $1.5  million,
primarily related to the supply inventory discussed above.

PROPERTY AND EQUIPMENT.  Property and equipment  increased from zero at December
31, 2002 to $901,865 at December 31, 2003,  an increase of $901,865,  related to
the acquisition of SCB effective  December 31, 2003. In addition,  CTMC acquired
approximately $767,000 of property and equipment, effective December 31, 2003 as
part of a settlement with a related party. No depreciation was taken relating to
either of these transactions for the year-ended December 31, 2003.

LIABILITIES

ACCRUED  WAGES.  Accrued wages  decreased  from $122,000 at December 31, 2002 to
$32,921 at December 31,  2003,  a decrease of $89,079,  primarily as a result of
the  Company   disposing  of  all  of  its   operating   assets/businesses   and
discontinuing  all  operating  activities  as of and  settling  all  outstanding
employment  agreement  obligations,  offset by  accrued  wages  relating  to the
operations of CTMC.

ACCOUNTS PAYABLE AND OTHER ACCRUED  EXPENSES.  Accounts  payable  increased from
zero at December  31, 2002 to $367,669  at  December  31,  2003,  an increase of
$367,669, relating to the operations of CTMC.

RELATED PARTY PAYABLE. Related party payable increased from zero at December 31,
2002 to $305,739,  specifically relating to funding cash funding requirements of
CTMC and SCB. In  addition,  professional  fees were paid  directly by a related
party.

ACCRUED INTEREST.  Accrued interest  decreased from $30,635 at December 31, 2002
to zero at December 31,  2003,  a decrease of $30,635,  primarily as a result of
the  Company   disposing  of  all  of  its   operating   assets/businesses   and
discontinuing  all  operating  activities  as of March 31, 2003 and settling all
outstanding employment agreement obligations.

NOTES  PAYABLE-RELATED  PARTIES.  Notes  payable-related  parties increased from
$316,229 at December  31, 2002 to $613,659 at December  31,  2003, a increase of
$297,430,  primarily as a result of restructuring the remaining  liabilities due
to certain  related  parties  during  2002,  offset by loans to related  parties
totaling  $613,659  relating to the  acquisition  of SCB effective  December 31,
2003, specifically relating to the chassis inventory financed.

<PAGE>


NOTES PAYABLE. Notes payable decreased from $63,539 at December 31, 2002 to zero
at December 31,  2003, a decrease of $63,539,  primarily as a result of reaching
various settlements with certain note holders.

TOTAL CURRENT LIABILITIES.  Total current liabilities increased from $532,403 at
December  31, 2002 to $1.7  million at December  31,  2003,  an increase of $1.2
million, primarily as a result of the Company related to the acquisition of CTMC
and SCB. In addition,  the Company funded operations  through increased accounts
payable and related parties accounts payable.

The Company has historically  issued stock in lieu of cash  compensation,  which
has helped reduce the Company's cash needs.  Management will try to maintain the
Company in its current  operating  form  through the issuance of common stock to
consultants for the Company's  ongoing  administrative  and reporting duties. In
addition,  the  Company  has  secured  lines of credit  for  funding  floor plan
liabilities.  CTMC  secured  a line of  credit  totaling  $1.6  million  for the
purchase of chassis inventory from a local  dealership.  The line of credit will
be utilized by CTMC to fund the purchase of chassis for production.

In  addition,  during  early 2004 SCB expects to secure  funding from Ford Motor
Credit  totaling  $3.0  million  for  the  purchase  of  chassis   vehicles  for
production.

<PAGE>

ACCOUNTING POLICIES SUBJECT TO ESTIMATION AND JUDGMENT

Management's  Discussion  and  Analysis of  Financial  Condition  and Results of
Operations are based upon our consolidated financial statements, which have been
prepared in accordance  with  accounting  principles  generally  accepted in the
United States.  When preparing our financial  statements,  we make estimates and
judgments  that affect the  reported  amounts on our  balance  sheets and income
statements,  and our related disclosure about contingent assets and liabilities.
We  continually  evaluate our  estimates,  including  those  related to revenue,
allowance for doubtful accounts,  reserves for income taxes, and litigation.  We
base our estimates on historical  experience  and on various other  assumptions,
which  we  believe  to be  reasonable  in order to form  the  basis  for  making
judgments  about the  carrying  values of assets  and  liabilities  that are not
readily  ascertained  from other sources.  Actual results may deviate from these
estimates if alternative assumptions or condition are used.

ITEM 7. FINANCIAL STATEMENTS

See  "Index  to  Financial  Statements"  for  a  description  of  the  financial
statements included in this Form 10-KSB.

Consolidated balance sheet at December 31 December 31, 2003

Consolidated  statements of operations for the years ended December 31, 2003 and
2002

Consolidated statements of shareholders' equity at December 31, 2003 and 2002

Consolidated  statements of cash flows for the year ended  December 31, 2003 and
2002

Notes to consolidated financial statements for the years ended December 31, 2003
and 2002



ITEM  8.  CHANGES  IN AND  DISAGREEMENTS  WITH  ACCOUNTANTS  ON  ACCOUNTING  AND
FINANCIAL DISCLOSURE.

        None.

ITEM 8A. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

         As of the end of the period covered by this report, the Company carried
out an  evaluation  of the  effectiveness  of the  design and  operation  of its
disclosure  controls and procedures  pursuant to Exchange Act Rule 13a-14.  This
evaluation  was done under the  supervision  and with the  participation  of the
Company's  Principal  Executive Officer and Principal  Financial Officer.  Based
upon that evaluation,  the Principal  Executive Officer and Principal  Financial
Officer  concluded  that the Company's  disclosure  controls and  procedures are
effective in gathering,  analyzing and disclosing  information needed to satisfy
the Company's disclosure obligations under the Exchange Act.

CHANGES IN INTERNAL CONTROLS

         There were no significant changes in the Company's internal controls or
in other factors that could  significantly  affect those controls since the most
recent evaluation of such controls.


                                    PART III

ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE
WITH SECTION 16(A) OF THE EXCHANGE ACT

EXECUTIVE OFFICERS AND DIRECTORS

The director and executive officer as of December 31, 2003 is as follows:

<PAGE>

       NAME              AGE                      POSITION
       ----              ---                      --------

Francis O'Donnell         46      Chairman of the Board, Chief Executive Officer
                                  /Chief Accounting Officer


FRANCIS  O'DONNELL  has served as Chief  Executive  Officer and  Chairman of the
Board of Directors of the Company since July 10, 2003. Mr. O'Donnell is also the
Managing  Member  of  International   Equities  and  Finance,   LLC,  a  company
specializing in  recapitalizing  and  re-engineering  entities and has held this
position  since  February,  2001.  From  November,  1996 to February,  2001, Mr.
O'Donnell was the President and Chief Executive  Officer of Inorganic  Recycling
Corporation.  Prior to November,  1996,  Mr.  O'Donnell was a Group Director for
Ryder Systems (November,  1993 to November, 1996), President and Chief Executive
Officer of Business Telecom,  Inc. (February,  1991 to November,  1993) and Vice
President  Strategic  Planning  of  MCI  Telecommunications  (January,  1987  to
February,  1991).  Mr.  O'Donnell holds a Business and  Mathematics  degree from
Rollins  College,  Winter Park,  Florida and Masters in Business  Administration
(MBA) from Columbia University, New York, NY.

COMPLIANCE WITH SECTION 16(a) OF THE SECURITIES EXCHANGE ACT OF 1934

        Section  16(a)  of the  Securities  Exchange  Act of 1934,  as  amended,
requires that the Company directors and executive officers,  and persons who own
more than ten percent (10%) of the Company's outstanding common stock, file with
the Securities and Exchange  Commission  (the  "Commission")  initial reports of
ownership and reports of changes in ownership of Common Stock.  Such persons are
required  by the  Commission  to furnish  the  Company  with  copies of all such
reports  they file.  The  Company's  knowledge,  based solely on a review of the
copies of such reports furnished to the Company and written  representation,  as
of December 31, 2003, all of the Section 16(a) filing requirements applicable to
its  officers,  directors  and  greater  than 10%  beneficial  owners  have been
satisfied.

CODE OF ETHICS

The Company has  adopted a code of business  conduct and ethics that  applies to
its  directors,  officers,  and  employees,  including its  principal  executive
officers,  principal financial officer, principal accounting officer, controller
or persons performing similar functions.  A copy of the code is attached to this
report as Exhibit 14.

ITEM 10. EXECUTIVE COMPENSATION

During the years ended December 31, 2003 and 2002, executive compensation was as
follows:

SUMMARY COMPENSATION TABLE

<TABLE>
<CAPTION>
                                                                        LT Options/             All Other
Name and Principal Position            Year             Salary          Stock Bonus            Compensation
-----------------------------       ------------     -------------     ---------------       -----------------
<S>                                   <C>               <C>             <C>                  <C>
Francis O'Donnell                      2003                     -                   -              965,450  (d)
Chairman of the Board/
CEO/Principal Accounting
Officer

Dave Mullikin                 (c)      2003                     -                   -                    -
President/CEO                          2002               130,000                   -               20,068  (a)

Brad Cohen                    (b)      2003                     -                   -                    -
EVP                                    2002               104,167                   -                9,800  (a)
</TABLE>



<PAGE>


 (a)-  Effective  January  1, 2002,  the  Company  entered  two  separate  lease
agreements  with  officers  and  directors  of the  Company to lease space to be
utilized for office  purposes at a rate totaling  $5,134 per month.  The initial
term of the lease was one year with a two-year  renewal option (at the Company's
option) at a rate totaling $10,000 per month. Rental expense totaled $29,868 for
the year ended  December 31, 2002.  The  agreement  between the Company and Brad
Cohen  was  terminated  effective  with his  resignation  on May 31,  2002.  The
agreement  between the Company and Mr.  Mullikin  was  terminated  on January 3,
2003.

(b) - Mr. Cohen  resigned as an officer and a director of the Company on May 31,
2002.

(c)-  During  2002,  the Board  terminated  the  employment  contract of Dave L.
Mullikin.  Under the settlement Mr.  Mullikin's salary ceased accruing on August
15, 2002 and the  severance  provision  was  forgiven.  It was  replaced  with a
consulting  agreement between the Company and Mr. Mullikin whereby Mullikin will
continue in his position as acting chief executive officer of the Company.

(d) - Mr.  O'Donnell  received 1.4 million  shares of common stock on August 26,
2003  valued at $0.45 a share,  for past and future  consulting  services to the
Company. The value of the issuance of stock was $632,250. In addition, companies
that Mr.  O'Donnell  controls  have  settled  outstanding  liabilities  with the
Company  through the issuance of common stock totaling 1.1 million shares valued
at $0.45 a share as of August 26, 2003 reflecting a loss to the Company totaling
$333,200.

Because no options,  stock appreciation rights or Long-Term Incentive Plans have
been  granted to any of the  executive  officers as of December  31,  2003,  the
information  and tables  otherwise  required by this Item,  which relate to such
forms  of  compensation  has  been  omitted.  The  above  noted  table  reflects
compensation received by officers in the form of registered S-8 stock.

The Board of  Directors  consists of Francis  O'Donnell as Chairman of the Board
and currently the sole director of the Company. The Company is in the process of
recruiting  additional  members  to the  Board  of  Directors  and  subsequently
establishing an Audit Committee and Compensation Committee.  Currently the Audit
Committee and Compensation Committee are performed by the Board of Directors.

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The  following  table sets  forth,  as of  December  31,  2003,  the  beneficial
ownership of Common Stock of all  directors of the Company,  all  directors  and
officers of the Company as a group,  and each person who is known to the Company
to own beneficially more than 5% of the Company's Common Stock.

<TABLE>
<CAPTION>
                                            Amount/ Nature of
  Name of Beneficial Owner                    Ownership (1)                  Percentage of Class
-----------------------------       ----------------------------------      -----------------------
<S>                                          <C>                               <C>
Francis O'Donnell                                  4,966,066  (3)                   50.75  %
Springfield Coach
Industries Corporation                             1,800,000  (2)                   18.39
Elm Street Partners                                1,311,700  (2)                   13.40
</TABLE>


Addresses of beneficial  owners are on record with the company and are available
by written request.

(1) Pursuant to  applicable  rules of the  Securities  and Exchange  Commission,
"beneficial  ownership"  as used in this table means the sole or shared power to
vote  shares  (voting  power) or the sole or shared  power to  dispose of shares
(investment power).  Unless otherwise  indicated,  the named individual has sole
voting and  investment  power with respect to the shares  shown as  beneficially
owned. In addition,  a person is deemed the beneficial owner of those securities
not  outstanding  which are subject to options,  warrants,  rights or conversion
privileges if that person has the right to acquire  beneficial  ownership within
sixty days.

(2) Included in beneficial ownership for Francis O'Donnell.

(3) Francis  O'Donnell owns 417,500 shares of common stock  directly.  Companies
that he controls  directly and  indirectly  own 548,866  shares of common stock.
Shares were distributed by Francis O'Donnell totaling 1,022,500 shares of common
stock  to  investors  of a  previous  transaction  entered  into  by ELM  Street
Partners.  The voting rights for these shares of common stock  collectively  are
maintained by Francis O'Donnell.

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

The Company is a party to a  non-cancelable  operating  lease  pertaining to the
office and plant  facilities.  The lease term,  as amended,  expires in December
2007 with payments commencing in July 2003. The lease is to a related party.

<PAGE>

The minimum lease  commitment  for the  non-cancelable  operating  lease for the
years ended are summarized as follows:

                       2004       $          288,000
                       2005                  288,000
                       2006                  288,000
                       2007                  288,000
                                 --------------------
                                  $        1,152,000
                                 ====================

Rental  expense under all operating  leases  totaled  approximately  $86,400 and
$28,397  for the years ended  December  31,  2003 and 2002,  respectively,  that
includes  amortization  of  approximately  $9,600  and $0 for  the  years  ended
December 31, 2003 and 2002, respectively of deferred rental expense.

As of December  31,  2003 and  December  31,  2002 the  Company  had  receivable
balances for $31,593 and zero due from related parties, respectively.

The Company maintained certain equipment used for manufacturing  currently owned
by a related  party in  anticipation  of a pending  purchase  agreement for that
equipment.  Effective  December 31, 2003, the Company acquired the equipment and
inventory  for  $859,046.  The  transaction  was  settled  through a mortgage on
property  owned by a related  party.  The  mortgage  is not a  liability  of the
Company and was considered an equity contribution from the related party.

During the year ended  December 31, 2003,  the Company issued 1.8 million shares
or common stock to various related parties for future consulting  services.  The
Company recognized $810,000 of amortization of deferred compensation relating to
this  issuance.   During  the  year  ended  December  31,  2002,  there  was  no
amortization of deferred  compensation.  The total value of these  agreements is
$810,000  to settle  past  services,  as well as future  services to the Company
which was included in amortization of deferred  compensation  for the year ended
December  31, 2003.  Included in the  $810,000  was  $260,000 for past  services
rendered.  The shares of common  stock were issued to these  individuals  with a
three month restriction.  The agreements are for consulting services for periods
between 6 months to 2 years.

On August 26,  2003,  the Company  issued  433,333  shares of common  stock to a
related party in settlement of $65,000 due as of June 30, 2003. The statement of
operations  reflects an  extraordinary  loss from settlement of $130,000 for the
year ended December 31, 2003.

On August 26,  2003,  the Company  issued  677,333  shares of common  stock to a
related party in settlement of $101,600 due for various expenses paid for by the
related party. The statement of operations  reflects an extraordinary  loss from
settlement of $203,200 for the year ended December 31, 2003.

Related party accounts payable totaled $305,739 at December 31, 2003. The amount
pertains to a related party funding professional fees and cash flow requirements
of CTMC and SCB.

Notes payable-  related parties totals $613, 659 due to the former owner of SCB,
as of  December  31,  2003.  Those  balance  pertain  to the  chassis  inventory
purchased at  acquisition.  On January 3, 2003 the Company entered into an asset
sale agreement,  which sold the certain assets of the Company to  Solutions.com,
LLC, an entity controlled by David L. Mullikin.

Mr.  Mullikin was a director of  SearchHound.com,  Inc. and was its acting Chief
Executive Officer. The net book value of the net assets sold approximated $8,000
as of the date of sale.  Pursuant to the asset sale agreement the Company agreed
to  transfer  such  assets in  settlement  of a portion of the then  outstanding
principal balance of $179,359 together with all accrued but unpaid interest. The
settlement  of this note payable  resulted in a gain of $135,100  based upon the
market value of the common stock at the date issued and was  classified  as gain
on disposal of  discontinued  operations in the Statement of Operations  for the
year ended December 31, 2003.

Concurrent with this transaction,  the Company's  previous president also agreed
to accept the issuance of 42,589  shares held in treasury  and 47,411  shares of
common stock to settle wages  payable  resulted in a gain of $54,795  based upon
the market  value of the common stock at the date issued and was  classified  as
gain on settlement of notes and accounts  payable in the Statement of Operations
for the year ended December 31, 2003.

<PAGE>


Item 7. Financial Statements

Report of Independent Certified Public Accountants

Consolidated balance sheet at December 31 December 31, 2003

Consolidated  statements of operations for the years ended December 31, 2003 and
2002

Consolidated statements of shareholders' equity at December 31, 2003 and 2002

Consolidated  statements of cash flows for the year ended  December 31, 2003 and
2002

Notes to consolidated financial statements for the years ended December 31, 2003
and 2002



<PAGE>


               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

To the shareholders and board of directors
Coach Industries Group, Inc. and Subsidiaries

We have audited the accompanying  consolidated balance sheet of Coach Industries
Group, Inc. f/k/a SearchHound.com Inc. (a Nevada corporation) as of December 31,
2003,  and  the  related  consolidated  statements  of  operations,  changes  in
shareholders'  equity and cash flows for the year then ended  December 31, 2003.
These consolidated  financial statements are the responsibility of the Company's
management.  Our  responsibility  is to express  an  opinion on these  financial
statements based on our audits. The consolidated  financial  statements of Coach
Industries Group, Inc. f/k/a  SearchHound.com  Inc. as of and for the year ended
December  31, 2002 were audited by other  auditors  whose report dated March 26,
2003, on those statements  included an explanatory  paragraph that described the
financial  statements were prepared assuming that the company will continue as a
going concern and those  statements  did not include any  adjustments  resulting
from that uncertainty.

We conducted our audits in accordance with auditing standards generally accepted
in the United States. Those standards 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.  An audit
also includes assessing the accounting principles used and significant estimates
made by  management,  as well as  evaluating  the  overall  financial  statement
presentation.  We believe that our audits  provided a  reasonable  basis for our
opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material  respects,  the financial  position of Coach Industries Group, Inc.
and its  subsidiaries  as of  December  31,  2003,  and  the  results  of  their
operations  and their  cash  flows for the year then  ended in  conformity  with
accounting principles generally accepted in the United States.

JEWETT, SCHWARTZ & ASSOCIATES

HOLLYWOOD, Florida,
March 22, 2004

<PAGE>

                          COACH INDUSTRIES GROUP, INC.

                           CONSOLIDATED BALANCE SHEET


<TABLE>
<CAPTION>
                                                                DECEMBER 31, 2003
                                                                -----------------
<S>                                                             <C>
                               ASSETS

CURRENT ASSETS:
  Cash and cash equivalents ..................................           91,565
  Accounts receivable, net ...................................           12,939
  Due from Related party accounts receivable .................           31,593
  Supply inventory ...........................................        1,310,483
  Prepaid expenses and other current assets ..................           57,680
                                                                    -----------
          Total current assets ...............................        1,504,260
                                                                    -----------
PROPERTY AND EQUIPMENT, net ..................................          901,865
GOODWILL .....................................................        2,678,896
                                                                    -----------
                                                                    $ 5,085,021
                                                                    ===========
            LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:
  Accounts payable and accrued expenses ......................      $   367,669
  Related party accounts payable .............................          305,739
  Deferred rent ..............................................          115,200
  Warranty reserve ...........................................           20,535
  Customer deposits ..........................................          230,273
  Accrued wages ..............................................           32,921
  Notes payable - related parties ............................          613,659
                                                                    -----------
          Total current liabilities ..........................        1,685,996
                                                                    -----------
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Common stock $0.001 par value; 50,000,000 shares authorized
9,785,531 issued and outstanding                                          9,785

Additional paid in capital ...................................        5,675,277
 Deferred compensation .......................................               --
 Accumulated deficit restated effective January 1, 2003 ......       (1,566,037)

  Treasury stock, 1.6 million shares at cost .................         (720,000)
                                                                    -----------
          Total shareholders' equity .........................        3,399,025
                                                                    -----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY ...................      $ 5,085,021
                                                                    ===========
</TABLE>


              The accompanying notes are an integral part of these
                             financial statements.

<PAGE>

                          COACH INDUSTRIES GROUP, INC.

                      CONSOLIDATED STATEMENTS OF OPERATIONS


                                                           DECEMBER 31,
                                                 ------------------------------
                                                    2003                2002
                                                 -----------        -----------
REVENUES .................................       $   471,762        $        --
                                                 -----------        -----------
COST OF GOODS SOLD .......................           647,574                 --
                                                 -----------        -----------
  GROSS LOSS .............................          (175,812)                --

OPERATING EXPENSES:
  General and
     Administrative ......................           486,626            110,807
   Sales and marketing ...................            33,575                 --
   Rent ..................................            86,400             28,397
   Interest expense ......................             3,768             15,090
   Other .................................            10,838             (3,333)
    Amortization of deferred
    Compensation .........................           810,000                 --
   Impairment charges - marketable
     equity securities ...................                --             68,854
  Loss on reduction of trade
      Payable ............................            94,118                 --
                                                 -----------        -----------
    Total operating expenses .............         1,525,325            219,815
                                                 -----------        -----------
Loss from continuing operations ..........       (1,701,1367)          (219,815)
                                                 -----------        -----------
Income (loss) from discontinued
operations (including gain on
disposition of $135,100 and $446,430,
respectively) ............................           135,100         (4,616,499)
                                                 -----------        -----------
Loss before income taxes .................        (1,566,037)        (4,836,314)
                                                 -----------        -----------
Income taxes .............................                --                 --
                                                 -----------        -----------
NET LOSS .................................       $(1,566,037)       $(4,836,314)
                                                 ===========        ===========
Basic and diluted net income
  (loss) per share :

Continuing operations ....................       $     (0.77)       $     (1.94)
Discontinued operations ..................              0.06             (40.82)
                                                 -----------        -----------
  Total ..................................       $     (0.71)       $    (42.76)
                                                 ===========        ===========
Basic and diluted weighted average
common shares outstanding ................         2,219,699            113,089
                                                 ===========        ===========


              The accompanying notes are an integral part of these
                             financial statements.

<PAGE>

                          COACH INDUSTRIES GROUP, INC.

                 CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY

<TABLE>
<CAPTION>

                                                         COMMON STOCK             ADDITIONAL
                                                                                    PAID IN         ACCUMULATED       TREASURY
                                                   SHARES           AMOUNT          CAPITAL          DEFICIT           STOCK
                                                ------------     ------------     ------------     ------------     ------------
<S>                                             <C>              <C>              <C>              <C>              <C>
BALANCE, January 1, 2002 ...................         112,242     $        458       20,124,780      (15,852,767)             (19)
Return and cancellation of
Common Stock ...............................          (7,463)             (30)              30               --               --
Issuance of common stock for
services rendered ..........................           7,743               31           54,219               --               --
Issuance of common stock held
in treasury ................................          55,970               --               --               --               --
Issuance of common stock held
in treasury ................................           4,820              224               --               --             (224)
Marketable securities permanent
impairment .................................              --               --               --               --               --
Net Loss ...................................              --               --               --       (4,836,314)              --
                                                ------------     ------------     ------------     ------------     ------------

BALANCE, December 31, 2002 .................         173,312              683       20,179,029      (20,689,081)            (243)

Restatement of accumulated
deficit subject to quasi reorganization ....              --               --      (20,689,081)      20,689,081               --
Issuance of treasury stock to
settle notes and accounts payable ..........              --               --           48,389               --              243
Adjust common stock for stock split ........              --             (814)             814               --               --
Issuance of common stock to
settle notes and accounts payable ..........       1,149,719            1,266          529,776               --               --
Issuance of common stock for
services rendered ..........................          62,500              250           74,750               --               --
Unearned compensation - restricted stock ...       1,900,000            1,900          859,100               --               --
Cancellation of restricted stock ...........        (100,000)            (100)         (50,900)              --           51,000
Amortization of unearned
compensation - restricted stock ............              --               --               --               --               --
Issuance of common stock upon
acquisition of CTMC ........................       3,000,000            3,000        1,347,000               --               --
Issuance of common stock into
treasury for settlement of a
pending acquisition ........................       1,600,000            1,600          718,400               --         (720,000)
Issuance of common stock upon
acquisition of SCB .........................       2,000,000            2,000        2,658,000               --               --
      Net loss .............................                                                         (1,566,037)
                                                ------------     ------------     ------------     ------------     ------------
BALANCE, DECEMBER 31, 2003 .................       9,785,531     $      9,785     $  5,675,277     $ (1,566,037)    $   (720,000)
                                                ============     ============     ============     ============     ============
</TABLE>

<TABLE>
<CAPTION>
                                                   ACCUMULATED      UNEARNED
                                                     OTHER        COMPENSATION
                                                  COMPREHENSIVE  RESTRICTED STOCK
                                                     INCOME           GRANTS            TOTAL
                                                  ------------     ------------     ------------
<S>                                               <C>              <C>              <C>
BALANCE, January 1, 2002 ...................           (68,954)              --        4,203,498
Return and cancellation of
Common Stock ...............................                --               --               --
Issuance of common stock for
services rendered ..........................                --               --           54,250
Issuance of common stock held
in treasury ................................                --               --
Issuance of common stock held
in treasury ................................                --               --               --
Marketable securities permanent
impairment .................................            68,954               --           68,954
Net Loss ...................................                --               --       (4,836,314)
                                                  ------------     ------------     ------------

BALANCE, December 31, 2002 .................                --               --         (509,612)

Restatement of accumulated
deficit subject to quasi reorganization ....                --               --               --
Issuance of treasury stock to
settle notes and accounts payable ..........                --               --           48,632
Adjust common stock for stock split ........                --               --               --
Issuance of common stock to
settle notes and accounts payable ..........                --               --          531,042
Issuance of common stock for
services rendered ..........................                --               --           75,000
Unearned compensation - restricted stock ...                --         (861,000)              --
Cancellation of restricted stock ...........                --
Amortization of unearned
compensation - restricted stock ............                --          810,000          810,000
Issuance of common stock upon
acquisition of CTMC ........................                --               --        1,350,000
Issuance of common stock into
treasury for settlement of a
pending acquisition ........................                --               --               --
Issuance of common stock upon
acquisition of SCB .........................                --               --        2,660,000
      Net loss .............................                                          (1,566,037)
                                                  ------------     ------------     ------------
BALANCE, DECEMBER 31, 2003 .................                --               --     $  3,399,025
                                                  ============     ============     ============
</TABLE>

              The accompanying notes are an integral part of these
                             financial statements.

<PAGE>

                          COACH INDUSTRIES GROUP, INC.

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                           2003            2002
                                                        -----------     -----------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                     <C>             <C>
  Net loss .........................................    $(1,566,037)    $(4,836,314)
  Adjustments to reconcile net income (loss) to net
    cash provided by (used in) operating activities:
    Depreciation and amortization ..................         (9,600)        469,885
    Amortization of deferred compensation ..........        810,000              --
    Gain on sale of assets - discontinued operations       (135,100)       (446,430)
    Loss on settlement of trade payable ............         94,118              --
    Impairment charges .............................             --       4,304,078
    Impairment loss on marketable securities .......             --          68,954
    Issuance of common stock for services rendered .         75,000          54,250
    Changes in operating assets and liabilities:
      Accounts receivable ..........................          9,811         191,813
      Inventory ....................................        (46,214)             --
      Prepaid expenses and other ...................         (3,460)             --
      Accounts payable and accrued expenses ........        359,627         (28,425)
      Other current assets .........................             --             794
      Other current liabilities ....................        218,272         137,090
                                                        -----------     -----------
            Net cash provided by (used in) operating
              activities ...........................       (193,583)        (84,305)

                                                        -----------     -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Cash received from business acquisitions, net ....         43,548              --
                                                        -----------     -----------
            Net cash used in investing activities ..         43,548              --
                                                        -----------     -----------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Payments on notes payable ........................             --         (13,251)
  Related party accounts payable, net ..............        226,810          10,183
                                                        -----------     -----------
            Net cash (used in) financing
              activities ...........................        226,810          (3,068)
                                                        -----------     -----------

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS         76,775         (87,373)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR .......         14,790         102,163
                                                        -----------     -----------
CASH AND CASH EQUIVALENTS, END OF YEAR .............    $    91,565     $    14,790
                                                        ===========     ===========
</TABLE>


              The accompanying notes are an integral part of these
                             financial statements.

<PAGE>

                          COACH INDUSTRIES GROUP, INC.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                 FOR THE YEARS ENDED DECEMBER 31, 2003 AND 2002

1. BACKGROUND

The   Company   has   operated   as  a  holding   Company   for   internet-based
assets/businesses,    primarily    through   the   acquisitions   of   operating
assets/businesses  through  the  issuance  of common  stock.  During  2002,  the
Company's  Board  of  Directors  changed  its  strategy  due to  poor  operating
conditions and results in its primary  businesses  coupled with  difficulties in
raising capital through debt and equity sources.  The Board of Directors adopted
the new  strategy  during  2002,  which  committed to the disposal of all of its
current  assets/businesses  and to seek a merger/acquisition  transaction with a
Company  having better  financial  resources.  As of early 2003, the Company has
disposed  of all of its  operating  assets/businesses  and ceased all  operating
activities. The accompanying financial statements reflect the businesses sold as
discontinued  operations.  On September 1, 2003,  the Company became the holding
company for a manufacturer  of limousines,  primarily for the livery industry by
modifying  and  custom  fabricating  stock  vehicles  that are  manufactured  by
automotive manufacturers.

The following represents the history of the Company:

SearchHound.com,  Inc., the predecessor to Coach  Industries,  Group,  Inc. (the
"Company"  or  "Coach"),  is the  result  of the  June  1,  2000  merger  of Pan
International  Gaming,  Inc. ("Pan  International") and Searchound.com 2000 Ltd.
This transaction was treated as a "reverse merger" for financial  accounting and
reporting purposes.

The "reverse  merger" with  Searchound.com  2000 Ltd. was consummated on June 1,
2000. In fiscal year 2000 and prior to June 1, 2000, Pan  International  was not
engaged  in  operating  activities  and  there  were  no  revenues  or  business
operations.  Immediately  following the reverse  merger with PAN  International,
Searchhound.com  2000 Ltd. changed its name to  SearchHound.com,  Inc. effective
June 6, 2000.

In 2002,  the  Company's  Board of  Directors  changed its  strategy due to poor
operating  conditions and operating  results in its primary  businesses  coupled
with difficulties in raising capital through debt and equity sources.  The Board
of  Directors  adopted the new  strategy  during  2002,  which  committed to the
disposal   of  all   of   its   current   assets/businesses   and   to   seek  a
merger/acquisition transaction with a company having better financial resources.
The Company's Board of Directors  approved a one for  sixty-seven  share reverse
stock  split  effective  on  December  30,  2002.  The  accompanying   financial
statements  and  related  disclosures  reflect  this  reverse  stock  split on a
retroactive basis.

As of  March  31,  2003,  the  Company  has  disposed  of all  of its  operating
assets/businesses and ceased all operating activities.  The financial statements
disclosed in the Company's  filings with the Securities and Exchange  Commission
reflect the businesses sold as discontinued operations.

On July 10, 2003, the Company's sole officer and director resigned his positions
as  President,  Secretary,  Treasurer and sole Director and appointed a new sole
director.  The new sole member diectorof the Company, has approved the change of
the address of the corporate office.

In August 2003, the Company's  shareholders  approved the election of directors,
the appointment of independent  certified public accountants for the fiscal year
ending December 31, 2003,  effect a 1-for-4 reverse stock split of the Company's
issued and outstanding shares of common stock and amended the Company's Articles
of Incorporation  to change the name of the Company to Coach  Industries  Group,
Inc.

On  September  1,  2003,  Commercial  Transportation  Manufacturing  Corporation
("CTMC"),  a New York corporation  specializing in the manufacturing and selling
of limousines, was merged into Coach.

Effective  December  31,  2003 the  Company  acquired  the  certain  assets  and
liabilities of Springfield Coach Industries Corporation, Inc.("SCB"), a Missouri
corporation specializing in manufacturing and selling limousines.


<PAGE>


2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

PRINCIPLES OF CONSOLIDATION

The accompanying  financial  statements include the accounts of the Company, and
its  wholly  owned  subsidiaries  CTMC and SCB.  All  significant  inter-company
balances and transactions have been eliminated.

USE OF ESTIMATES

The preparation of financial statements in accordance 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,
liabilities and  disclosures at the date of the financial  statements and during
the  reporting  period.  Accordingly,  actual  results  could  differ from those
estimates.

CASH AND CASH EQUIVALENTS

The Company considers all highly liquid investments with an original maturity of
three months or less to be cash equivalents. At December 31, 2003, cash and cash
equivalents include cash on hand and cash in the bank.

REVENUE AND COST RECOGNITION

Revenues are reported at the time the custom  re-fabrication  or modification is
complete and delivered to the customer. Customer deposits for partial payment of
vehicles are deferred  and treated as current  liabilities  until the vehicle is
completed  and  recognized as revenue.  Repairs and other  services are recorded
when the  service is  performed.  Inventory  is  relieved  upon  delivery of the
vehicle.

PROPERTY AND EQUIPMENT, NET

 Property and equipment,  net are stated at cost.  Depreciation and amortization
are provided using the straight-line method over the estimated economic lives of
the assets, which are typically three to seven years.

Expenditures  and major renewals and betterments that extend the useful lives of
property and equipment are capitalized. Expenditures for maintenance and repairs
are charged to expense as incurred.

SUPPLY INVENTORY

Supply inventory  includes the cost of the unmodified  vehicle chassis and parts
related  to  vehicles  in the  process  of being  modified  and  remanufactured.
Shipping and handling costs are included in inventory.

All inventories  are valued at the lower of cost or market.  The cost of new and
used vehicles is determined using the specific  identification  method. The cost
of new parts is valued using the first in first out basis.

IMPAIRMENT OF LONG-LIVED ASSETS

The Company reviews long-lived assets for impairment whenever  circumstances and
situations change such that there is an indication that the carrying amounts may
not be recovered. At December 31, 2003, the Company believes that there has been
no impairment of its long-lived assets.

During 2002 the Company  conducted an asset  evaluation  based on impairment for
long-lived  assets,  which  included its five web site,  database,  and exchange
servers  (asset group) and found that they no longer  support  revenue or income
from continuing operations.  This asset group was evaluated based on fair market
value of like  equipment  for sale.  The amount  written off as a result of this
valuation process was $102,635 for the year ended December 31, 2002.


<PAGE>


ADVERTISING

The  Company  expenses  advertising  production  costs  as  they  are  incurred.
Advertising  costs  for  the  years  ended  December  31,  2003  and  2002  were
approximately $6,600 and $0, respectively.

FAIR VALUE OF FINANCIAL INSTRUMENTS

The following  methods and  assumptions  were used to estimate the fair value of
each class of financial instruments for which it is practicable to estimate that
value:

Cash and cash equivalents,  prepaid expenses, other assets, and accounts payable
carrying amounts approximate fair value.

WARRANTY RESERVES

The Company provides warranties to its new car customers of the earlier of three
years or fifty thousand miles, only on parts and labor performed by the Company.
Warranty reserve was $20,535 as of December 31, 2003.

INCOME TAXES

 Deferred income taxes arise from timing  differences  resulting from income and
expense items  reported for financial  accounting  and tax purposes in different
periods.  A deferred tax asset  valuation  allowance is recorded when it is more
likely than not that  deferred  tax assets will not be realized.  The  financial
statements reflect a deferred tax asset of approximately $200,000 as of December
31, 2003 and a valuation allowance of the same amount, since the Company did not
have the revenue  history to support the future  recognition of the deferred tax
asset. It is more likely that the deferred tax asset will not be recognized. The
deferred  tax asset as of  December  31,  2003 was  restated  as part of a quasi
reorganization and presented as a $0 balance.

Utilization  of the  net  operating  loss  carry-forwards  may be  subject  to a
substantial  annual limitation due to ownership change  limitations  provided by
the Internal Revenue Code. The annual limitation may result in the expiration of
net operating loss carry-forwards before utilization.

GOODWILL

The Company  adopted SFAS No.142,  "Goodwill  and Other  Intangible  Assets," on
January  1, 2002.  As of the  adoption  date,  the  Company no longer  amortizes
goodwill  over its useful  life.  Instead,  goodwill  is tested  for  impairment
annually.  The  impairment  test consists of two steps.  In the first step,  the
Company  determines  the carrying  value of each reporting unit by assigning the
assets and liabilities,  including the existing goodwill and intangible  assets,
to those  reporting  units.  If the fair value of the reporting  unit is greater
than its  carrying  value,  the test is completed  and goodwill  assigned to the
reporting unit is not impaired. To the extent a reporting unit's carrying amount
exceeds its fair value, an indication  exists that the reporting unit's goodwill
may be impaired,  and the Company must perform the second step of the impairment
test. In the second step, the Company must compare the implied fair value of the
reporting  unit's  goodwill,  determined by allocating the reporting unit's fair
value to all of its assets  (recognized and  unrecognized)  and liabilities in a
manner similar to a purchase price allocation in accordance with SFAS No.141, to
its carrying amount. The Company will recognize a goodwill  impairment charge if
the carrying  amount of the goodwill  assigned to the reporting  unit is greater
than the implied fair value of the goodwill.  At December 31, 2003,  the Company
has not recognized an impairment loss.

During  2002  management's  review  of the  SearchHound.com  and  SoloSearch.com
intangible assets yielded that they no longer are capable of generating  ongoing
revenue as the costs to maintain the sites is in excess of any potential revenue
source and therefore their value has been impaired.  As a result,  an impairment
charge of $4.2 million was recorded for the year ended December 31, 2002.

NET INCOME (LOSS) PER SHARE

The Company has presented basic and diluted net income (loss) per share pursuant
to SFAS  No.  128,  "Earnings  per  Share,"  and  the  Securities  and  Exchange
Commission SAB No. 98. In accordance  with SFAS No. 128, basic net income (loss)
per  share  has  been   computed   by   dividing   net  income   (loss)  by  the
weighted-average number of shares of common stock outstanding during the period.
Diluted  net income  (loss) per share  includes  the  effect,  if any,  from the
potential  exercise or conversion of securities,  such as stock  options,  which
would result in the issuance of shares of common stock.


<PAGE>


STOCK SPLIT

On  August  26,  2003,  the  Company  effected  a  1-for-4  stock  split of each
outstanding  share of common.  On December  30,  2002,  the  Company  effected a
1-for-67  share  reverse  stock split.  The  accompanying  financial  statements
reflect this reverse  stock split on a  retroactive  basis.  All share data have
been restated to reflect these stock splits.

RECENT ACCOUNTING PRONOUNCEMENTS

In  April  2002,  the  Financial  Accounting  Standards  Board  ("FASB")  issued
Statement No. 145 ("Rescission of FASB Statements No. 4, 44 and 64, Amendment of
FASB Statement No. 13 and Technical Corrections").  This statement rescinds FASB
Statement No. 4,  Reporting  Gains and Losses from  Extinguishment  of Debt, and
FASB  Statement  No. 64,  Extinguishments  of Debt Made to Satisfy  Sinking-Fund
Requirements. Any gain or loss on the extinguishment of debt that was classified
as an extraordinary  item in prior periods has been reclassified into continuing
operations.

In June  2002,  the FASB  issued  Statement  No.  146,  ("Accounting  for  Costs
Associated with Exit or Disposal  Activities").  This statement  requires that a
liability for a cost associated with an exit or disposal  activity be recognized
when the  liability  is  incurred.  Prior to this  statement,  a  liability  was
recognized when the entity committed to an exit plan.  Management  believes that
this  statement  will not have a  material  impact  on the  Company's  financial
statements;  however, the statement will result in a change in accounting policy
associated  with the  recognition  of  liabilities  in  connection  with  future
restructuring charges.

In  November  2002,  the  FASB  issued   Interpretation  No.  45,  ("Guarantor's
Accounting  and  Disclosure   Requirements  for  Guarantees  Including  Indirect
Guarantees of  Indebtedness of Others.") This  interpretation  elaborates on the
disclosures  to be made by a  guarantor  in its  interim  and  annual  financial
statements about its obligations under certain guarantees that it has issued. It
also clarifies that a guarantor is required to recognize,  at the inception of a
guarantee,  a  liability  for the fair  value of the  obligation  undertaken  in
issuing  the  guarantee.  This  interpretation  does not  prescribe  a  specific
approach for subsequently  measuring the guarantor's  recognized  liability over
the  term of the  related  guarantee.  This  interpretation  also  incorporates,
without  change,  the guidance in FASB  Interpretation  No. 34,  "Disclosure  of
Indirect Guarantees of Indebtedness of Others," which is being superseded.

In December 2002, the FASB issued Statement No. 148 ("Accounting for Stock-Based
Compensation - Transition and Disclosure"). This statement amends FASB Statement
No. 123, ACCOUNTING FOR STOCK-BASED COMPENSATION, to provide alternative methods
of  transition  for a  voluntary  change  to the  fair  value  based  method  of
accounting for stock-based employee  compensation.  In addition,  this statement
amends  the  disclosure  requirements  of  FASB  Statement  No.  123 to  require
prominent  disclosures in both annual and interim financial statements about the
method of accounting for stock-based employee compensation and the effect of the
method used on reported results.

In January  2003,  the FASB  issued  Interpretation  No. 46  ("Consolidation  of
Variable Interest  Entities").  The  interpretation  defines a variable interest
entity as corporation,  partnership, trust or any other legal structure used for
business  purposes  that either (a) does not have equity  investors  with voting
rights nor (b) has equity  investors  that do not provide  sufficient  financial
resources for the equity to support its activities.  A variable  interest entity
often holds financial  assets,  including  loans or receivables,  real estate or
other property.  A variable interest entity may be essentially passive or it may
engage in research  and  development  or other  activities  on behalf of another
company.  This  interpretation   requires  a  variable  interest  entity  to  be
consolidated  by a company if that  company is subject to a majority of the risk
of loss from the variable interest entity's  activities or entitled to receive a
majority of the entity's  residual  returns or both.  The Company  would have to
consolidate any of its variable  interest  entities that meet the above criteria
as of July 1, 2003. The interpretation also requires  disclosures about variable
interest  entities that the company is not required to consolidate  but in which
it  has a  significant  variable  interest.  Management  is in  the  process  of
determining  if its  interests in  unconsolidated  entities  qualify as variable
interest entities and, if so, whether the assets,  liabilities,  non-controlling
interest, and results of activities are required to be included in the Company's
consolidated financial statements.

 In May 2003,  the FASB  issued  Statement  No.  150  ("Accounting  for  Certain
Financial  Instruments  with  Characteristics  of both Liabilities and Equity").
This Statement  establishes  standards for how an issuer classifies and measures
certain  financial  instruments  with  characteristics  of both  liabilities and
equity.  The Statement  requires that an issuer classify a financial  instrument
that is within  its scope as a  liability  (or an asset in some  circumstances).
Many of those instruments were previously  classified as equity.  The Company is
currently  classifying  financial instruments within the scope of this Statement
in accordance  with this  Statement.  This  Statement is effective for financial
instruments  entered  into or modified  after May 31,  2003,  and  otherwise  is
effective at the beginning of the first interim period  beginning after June 15,
2003.  Management  does not  believe  that this  Statement  will have a material
impact on the Company's financial statements.


<PAGE>


3. CONCENTRATION OF CREDIT RISK

The  amounts on  deposit  at  December  31,  2003 did not  exceed  the  $100,000
federally  insured limit for bank deposits.  The Company purchases a significant
portion of its inventory from two major suppliers.  The relationships with these
suppliers  are  significant  to the ongoing  operations  of the business and are
subject to licensing agreements.

4. SUPPLY INVENTORY

Supply inventory consist of the following components as of December 31, 2003:

                  Vehicle Chassis           $  952,948
                  Parts                        357,535
                                            ----------
                                            $1,310,483
                                            ==========


5. RELATED PARTY TRANSACTIONS

The Company is a party to a  non-cancelable  operating  lease  pertaining to the
office and plant  facilities.  The lease term,  as amended,  expires in December
2007 with payments commencing in July 2003. The lease is to a related party.

The minimum lease  commitment  for the  non-cancelable  operating  lease for the
years ended is summarized as follows:

                       2004       $          288,000
                       2005                  288,000
                       2006                  288,000
                       2007                  288,000
                                 --------------------
                                  $        1,152,000
                                 ====================


Rental  expense under all operating  leases  totaled  approximately  $86,400 and
$28,397  for the years ended  December  31,  2003 and 2002,  respectively,  that
includes  amortization of deferred rental expense of approximately $9,600 and $0
for the years ended December 31, 2003 and 2002, respectively.

As of December  31,  2003 and  December  31,  2002 the  Company  had  receivable
balances  for   approximately   $31,593  and  $0  due  from   related   parties,
respectively.

The Company maintained certain equipment used for manufacturing  currently owned
by a related  party in  anticipation  of a pending  purchase  agreement for that
equipment.  Effective  December 31, 2003, the Company acquired the equipment and
inventory  for  $859,046.  The  transaction  was  settled  through a mortgage on
property  owned by a related  party.  The  mortgage  is not a  liability  of the
Company and was considered an equity contribution from the related party.

During the year ended  December 31, 2003,  the Company issued 1.8 million shares
of common stock to various related parties for future consulting  services.  The
Company recognized $810,000 of amortization of deferred compensation relating to
this  issuance.   During  the  year  ended  December  31,  2002,  there  was  no
amortization of deferred  compensation.  The total value of these  agreements is
$810,000  to settle  past  services,  as well as future  services to the Company
which was included in amortization of deferred  compensation  for the year ended
December  31, 2003.  Included in the  $810,000  was  $260,000 for past  services
rendered.  The shares of common  stock were issued to these  individuals  with a
three month restriction.  The agreements are for consulting services for periods
between 6 months to 2 years.

On August 26,  2003,  the Company  issued  433,333  shares of common  stock to a
related  party in  settlement  of $65,000 due as of June 30, 2003.

On August 26,  2003,  the Company  issued  677,333  shares of common  stock to a
related party in settlement of $101,600 due for various expenses paid for by the
related party.


<PAGE>


Related party accounts payables totaled $305,739 at December 31, 2003 which were
due for funding professional fees and cash flow requirements of CTMC and SCB.

Notes payable - related parties totaled $613,659 at December 31, 2003 due to the
former  owner of SCB at  December  31,  2003,  specifically  relating to chassis
inventory purchased at acquisition.

On May 31, 2002 the Company  entered  into an asset sale  agreement,  which sold
certain assets related directly with two of the Company's subsidiary  operations
(Mesia.com and SpeakGlobally.com) to an officer and director of the Company. The
net book value of the net assets  sold  approximated  $52,750.  Pursuant  to the
asset sale agreement the Company agreed to transfer such assets in settlement of
the  following:   1)  an  employment  agreement,   2)  all  accrued  but  unpaid
compensation which approximated $100,000, and 3) a promissory note in the amount
of $285,000.

In addition,  the Company  agreed to pay $7,500 in cash, in exchange for, and in
sole  consideration and settlement of any other liabilities that may exist as of
May 31, 2002,  including the  liabilities  that accrue  pursuant to a Promissory
Note with a  principle  amount of  $147,030,  and any  liability  that may exist
pursuant to the Employment Agreement. The net effect of the sale of these assets
was a gain  of  $446,430,  which  was  classified  as a gain  from  disposal  of
discontinued  operations  in the  Statement  of  Operations  for the year  ended
December 31, 2002.

Concurrent with this asset sale agreement the director  tendered his resignation
from the Company.

During 2002,  the Board  terminated an employment  contract  whereby,  under the
settlement salary ceased accruing on August 15, 2002 and the severance provision
was  forgiven.  It was  replaced  with a  consulting  agreement  whereby he will
continue in his position as acting chief executive  officer of the Company.  The
agreement calls for the following:  1) contract  outsourced services to maintain
selected ongoing operations of the Company, 2) attempt to sell the assets of the
Company and 3) focus on a merger opportunity for the Company.

On January 3, 2003 the Company entered into an asset sale agreement,  which sold
the following assets of the Company to Solutions.com,  LLC, an entity controlled
by an officer and director of the Company:

      a.    Certain domains including: www.searchhound.com,  www.solosearch.com,
            www.godado.co.uk, www.freeairmiles.com, and www.moneymessage.com ,

      b.    Customer lists, email names and addresses (for each domain)

      c.    Software, programming code, intellectual property (for each domain)

      d.    Certain computer and office equipment

The net book value of the net assets sold approximated  $8,000.  Pursuant to the
asset sale agreement the Company agreed to transfer such assets in settlement of
the remaining  outstanding  principal  balance owed by the Company pursuant to a
Promissory Note with a principle  balance of $179,359  together with all accrued
but unpaid interest.  Previously, the Company had made partial reductions to the
unpaid note balance by the issuance of 45,323  shares of  SearchHound.com,  Inc.
common stock and a cash payment of $7,500.

In addition,  the former  Chief  Executive  Officer  agreed to cancel the rental
payments owed to him by the Company for its use of web hosting and office space.
On January 3, 2003 the Company also entered into an asset sale agreement,  which
sold the following assets of the Company to an unaffiliated entity:

a.    EarlyBirdDomain.com domain,

b.    Database  for  EarlyBirdDomain.com   including  all  subscribers  (active,
      inactive, and unsubscribed), and

c.    EarlyBirdDomain clients, customers

The net book  value of the net  assets  sold  approximated  $0 as of the date of
sale.  Pursuant to the asset sale  agreement the Company agreed to transfer such
assets in exchange for nominal cash consideration.

6. ACQUISITIONS

On August 29, 2003 the Company  acquired  CTMC through an Agreement  and Plan of
Merger effective  September 1, 2003, whereby all the common stock were converted
by virtue of the merger at the  closing  date of the merger,  September  1, 2003
into an equal number of Coach  Acquisition Sub, Inc. common stock. The Merger is
valued at $1.35  million based on 3 million  shares of common  stock,  valued at
$0.45 per share on August 26, 2003.

<PAGE>


Effective  December 31, 2003 the Company acquired certain assets and liabilities
from SCB. The  acquisition  is valued at $2.66 million based on 2 million shares
of common stock, valued at $1.33 per share on November 6, 2003.

The following is pro forma  information for the year ended December 31, 2003, as
if the CTMC and SCB  acquisition  were  consummated  on January 1, 2003. The pro
forma  information  is not  necessarily  indicative  of the  combined  financial
position  or results of  operations,  which  would  have been  realized  had the
acquisition been consummated during the period for which the pro forma financial
information is presented.

<TABLE>
<CAPTION>

                                                      FOR THE YEAR ENDED DECEMBER 31, 2003
                                                      ------------------------------------

                                                          HISTORICAL        PRO FORMA
                                                          ----------        ---------
<S>                                                      <C>              <C>
Revenue .............................................    $    471,762     $ 10,821,938
Operating loss ......................................      (1,701,137)        (997,379)
Net income (loss) ...................................    $ (1,566,037)    $   (862,279)
                                                         ============     ============
Basic and diluted net income (loss) per share .......    $      (0.71)    $      (0.14)
                                                         ============     ============
Basic and diluted weighted average shares outstanding       2,219,699        6,219,699
                                                         ============     ============
</TABLE>



<PAGE>

7. SUPPLEMENTAL CASH FLOW INFORMATION

The following  table displays the net non-cash  assets that were acquired during
the year ended December 31, 2003, as a result of the business acquisitions:

<TABLE>
<CAPTION>

                                                               CTMC             SCB            TOTAL
                                                            -----------     -----------     -----------
<S>                                                         <C>             <C>             <C>
Non-cash assets (liabilities):
  Current assets .......................................    $   259,792     $   946,567     $ 1,206,359
  Property and equipment ...............................          1,877         174,741         176,618
  Goodwill .............................................      1,351,347       2,186,595       3,537,942
  Current liabilities ..................................       (282,522)       (671,945)       (954,467)
                                                            -----------     -----------     -----------
  Net non-cash assets acquired .........................      1,330,494       2,635,958       3,966,452
  Less: common issued ..................................     (1,350,000)     (2,660,000)     (4,010,000)
                                                            -----------     -----------     -----------

Cash received from business acquisitions, net ..........    $   (19,506)    $   (24,042)    $   (43,548)
                                                            ===========     ===========     ===========
</TABLE>


In  addition  the  Company,  as  part  of  its  restructuring   settled  various
obligations for the years ended December 31:

Non cash financing/investing activities:         2003         2002
                                              ---------     ---------
Issuance of related party notes payable in
      payment of accrued expenses             $ 620,656     $ 316,206
Issuance of common stock held in
      Treasury for settlement of accounts
      payable, related party notes payable
      and accrued expenses                      (48,632)           --
Issuance of common stock in settlement
     of accounts payable, related party
     notes payable and accrued expenses        (531,042)           --
Reclassification of common stock to
     additional paid in capital related to
     the common stock split                         814            --
Issuance of restricted stock related to
     deferred compensation                      861,000            --
Cancellation of restricted stock                (51,000)
Issuance of treasury stock                      720,000        15,000
Transfer of assets and liabilities related
to business disposition:
   Accounts receivable                               --        44,910
   Fixed assets, net                                 --        37,357
   Notes payable and accrued expenses                --       528,697



8. SHAREHOLDERS' EQUITY

QUASI-REORGANIZATION:

Effective  January 1, 2003,  the  Company had  disposed of all of its  operating
assets and was in the process of settling all of its outstanding liabilities and
seeking a merger  partner.  Accordingly,  the Company  has changed its  business
focus.  The Board of  Directors  elected  to  restate  the  balance  sheet as "a
quasi-reorganization".  In  a  quasi-reorganization,  the  deficit  in  retained
earnings is eliminated by charging  paid-in capital.  In effect,  this gives the
balance sheet a "fresh-start". Beginning January 1, 2003 and continuing forward,
the Company  will be  crediting  net income and  charging net losses to retained
earnings.


<PAGE>


STOCK TRANSACTIONS:

In March  2003,  the  Company  increased  the shares  available  to be issued by
62,500.  The Company  issued  common stock to employees,  consultants  and Board
Members  for  services  rendered to the  Company.  The Form S-8  authorizes  the
issuance of common stock for services,  provides for a grant of incentive  stock
options,  non-qualified stock options,  restricted stock, performance grants and
other types of awards to officers, key employees, board members, consultants and
independent  contractors  of the Company.  During March 2003, the Company issued
62,500 shares to consultants for administrative, accounting and public relations
services in lieu of cash compensation. The Company charged $75,000 to operations
as a result of the  issuance  of these  shares for the year ended  December  31,
2003.

 The Company  issued shares  (excluding  60,790  treasury  shares issued) of its
common stock through June 30, 2003 as follows:

      39,053  shares were  issued to settle  notes and  accounts  payable of the
      Company.

      62,500  shares were issued to  consultants  to the Company in lieu of cash
      compensation.

      60,790  shares of common  stock  held in  treasury  were  issued to settle
      outstanding notes and accounts payable.

During the year ended  December 31, 2003,  the Company issued 1.8 million shares
of common stock to various related parties for future consulting  services.  The
Company recognized $810,000 of amortization of deferred compensation relating to
this issuance.  The shares of common stock were issued to these individuals with
a three month restriction.

On August 15, 2003, the Company entered into a consulting and retainer agreement
whereby the consultant  received 100,000 shares of common stock on September 15,
2003 for consulting  services  relating to enhancing the financial  structure of
the Company.  The contract is for 90 day, through  November 15, 2003.  Effective
December  31,  2003,  the  restricted  stock  was  cancelled  and the  resulting
consulting expense reversed.

For the year ended  December  31, 2003,  the Company  issued  approximately  1.1
million shares of common stock for the following:

1)    Related  party  in  settlement  of  $65,000  due  as  of  June  30,  2003,
      recognizing a loss from settlement of $130,000,

2)    $101,600  due  for  various  expenses  paid  for  by  the  related  party,
      recognizing a loss from settlement of $203,200, and

3)    The settlement of various related party liabilities  through June 30, 2003
      whereby recognizing a gain on settlement of $239,082.

The statement of operations  reflects a loss from settlement of trade payable of
$94,118 for the year ended December 31, 2003.

On August 29, 2003 the Company acquired Commercial Transportation  Manufacturing
Corp.  through an  Agreement  and Plan of Merger  effective  September  1, 2003,
whereby  all the  common  stock  were  converted  by virtue of the merger at the
closing  date of the  merger,  September  1, 2003 into an equal  number of Coach
Acquisition  Sub, Inc. common stock. The Merger is valued at $1.35 million based
on 3 million  shares of common  stock,  valued at $0.45 per share on August  26,
2003.

Effective  December 31, 2003 the Company acquired certain assets and liabilities
from Springfield Coach Industries Corporation, Inc. The acquisition is valued at
$2.66  million based on 2 million  shares of common  stock,  valued at $1.33 per
share on November 6, 2003.

For the year ended  December 31, 2002,  the Company  issued 63,713 shares of its
common stock as follows:

         748      unregistered shares were issued to the Board of Directors (187
                  shares to each of four Board members)

         14,925   unregistered shares were issued to the Officers of the Company

         280      unregistered  shares were issued to employees and  consultants
                  of the Company

         55,970   unregistered shares were issued to SearchHound.com in the form
                  of Treasury Stock as collateral for a pledge Note agreement

<PAGE>


         2,985    unregistered shares were issued to Steve,  Helder,  Siegel LLP
                  for legal work

Treasury stock:

As of August 26, 2003, the Company reserved 1.6 million shares,  valued at $0.45
cents  per  share,  for the  purpose  of using  as  agreed  consideration  for a
potential  transaction.  The  shares  shall  vest on the  effective  date of the
aforementioned  potential  transaction.  The shares  were has been  reserved  in
treasury stock amounting to $720,000 as of December 31, 2003.

9. COMMITMENTS AND CONTINGENCIES

Effective  December 31, 2003, the Company assumed an operating lease  pertaining
to the office and plant  facilities in  Springfield,  Missouri.  The lease term,
expires in July 2006.

The minimum lease  commitment,  for the  non-cancelable  operating lease for the
years ended is summarized as follows:

                       2004        $         132,000
                       2005                  132,000
                       2006                   77,000
                                 --------------------
                                   $         341,000
                                 ====================



<PAGE>


PART II   OTHER INFORMATION

Item 1.  Legal Proceedings

            Not applicable


Item 2.  Changes in Securities

           Not applicable


Item 3.  Defaults upon Senior Securities

            Not applicable


Item 5.  Other Information

            Not applicable


ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

The following  documents are filed as a part of this report or are  incorporated
by reference to previous filings, if so indicated:

(a)   Exhibits

3.1   Company's Amended and Restated Articles of Incorporation(1)

3.2   Company's Revised Amended and Restated Bylaws(1)

4.3   Specimen of Common Stock Certificate.(1)

14.   Code of Ethics (2)

23.1  Consent of Independent Auditors (2)

31.1  Certification  of Chief Executive  Officer  Pursuant to Section 302 of the
      Sarbanes-Oxley Act.(2)

31.2  Certification  of Principal  Financial and Accounting  Officer Pursuant to
      Section 302 of the Sarbanes-Oxley Act.(2)

32.1  Certification  of Chief Executive  Officer  Pursuant to Section 906 of the
      Sarbanes-Oxley Act.(2)

32.2  Certification of Chief  Accounting  Officer Pursuant to Section 906 of the
      Sarbanes-Oxley Act.(2)


(1)   Incorporated by reference from the Company's  Registration  Statement,  as
      amended,  on Form SB-2 filed with the Securities  and Exchange  Commission
      and declared effective on October 29, 1996.

(2)   Filed herewith.


<PAGE>


B.    Reports on Form 8-K

On August 25, 2003, the Registrant  announced that on May 19, 2003, the Board of
Directors  was  notified  by  Pickett,  Chaney &  McMullen  LLP,  the  Company's
independent  auditor,  that it would  decline  to stand  for  reelection  as the
Company's  independent  auditor for the fiscal year ending December 31, 2003. At
the Annual  Meeting of the Company,  held on August 22, 2003,  the  Shareholders
ratified the  appointment  of Jewett,  Schwartz &  Associates,  as the Company's
independent  certified public  accountants,  for the fiscal year ending December
31,  2003.  On  August  22,  2003,  the  Company  held  its  Annual  Meeting  of
Shareholders.  The  Shareholders  elected  Mr.  Francis  O'Donnell  to  serve as
director  until the  Company's  Annual  Meeting  of  stockholders  in 2004.  The
Shareholders  effected a 1-for-4  reverse  stock split  (pro-rata  reduction  of
outstanding  shares) of the Company's  issued and  outstanding  shares of Common
Stock.  The  Shareholders  amended the Company's  Articles of  Incorporation  to
change the name of the Company to Coach  Industries  Group,  Inc. The Registrant
announces  that  effective  as of the opening of business on Monday,  August 25,
2003, the 1-for-4  reverse stock split will be effective and the Company will be
trading  under the name  Coach  Industries  Group,  Inc.  The new symbol for the
Company shall be CIGI.OB.

On August 29, 2003, the Registrant announced,  effective September 1, 2003, that
Commercial  Transportation  Manufacturing  Corporation,  a New York  corporation
specializing the manufacturing and selling of limousines,  was to be merged into
Coach Industries Group, Inc.

On September 15, 2003, the Registrant  announced that the merger with Commercial
Transportation  Manufacturing  Corporation,  a New York corporation specializing
the manufacturing and selling of limousines, was completed on September 1, 2003.

No other  reports on Form 8-K were filed during the quarter  ended  December 31,
2003, for which this report is filed.

ITEM 14: PRINCIPAL ACCOUNTANT FEES AND SERVICES

Year ended December 31, 2003

Audit Fees:  The aggregate  fees,  including  expenses,  billed by the Company's
principal accountant in connection with the audit of our consolidated  financial
statements  for the most recent  fiscal year and for the review of our financial
information  included in our Annual  Report on Form  10-KSB;  and our  quarterly
reports on Form  10-QSB  during the fiscal  year  ending  December  31, 2003 was
$27,000.

Audit  Related Fees:  The  aggregate  fees,  including  expenses,  billed by the
Company's principal  accountant for services reasonably related to the audit for
the year ended December 31, 2003 were $27,000.

All Other Fees: The aggregate  fees,  including  expenses,  billed for all other
services  rendered to the Company by its principal  accountant  during year 2003
was $-0-.

Year ended December 31, 2002

Audit Fees:  The aggregate  fees,  including  expenses,  billed by the Company's
principal accountant in connection with the audit of our consolidated  financial
statements for the fiscal year ended December 31, 2002 and for the review of our
financial  information  included  in our  Annual  Report on Form  10-KSB for the
fiscal year ended  December 31, 2002;  and our quarterly  reports on Form 10-QSB
during the fiscal year ending December 31, 2002 was approximately $20,000.

Audit  Related Fees:  The  aggregate  fees,  including  expenses,  billed by the
Company's principal  accountant for services reasonably related to the audit for
the year ended December 31, 2002 were $-0-.

<PAGE>


All Other Fees: The aggregate  fees,  including  expenses,  billed for all other
services  rendered to the Company by its principal  accountant  during year 2002
was $-0-.

The Board of Directors  has  considered  whether the  provisions of the services
covered  above under the  captions  "Financial  Information  Systems  Design and
Implementation  Fees" and "All Other Fees" is compatible  with  maintaining  the
auditor's independence.

<PAGE>

                                   SIGNATURES

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



                                         Coach Industries Group, Inc.


                                         By /s/ Francis O'Donnell
                                            ------------------------------
                                            Chief Executive Officer
                                            and Chief Accounting  Officer

                                            Date: March 25, 2004