SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-KSB

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

     For the fiscal year ended September 30, 2003

                                       OR

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

     For the transition period from _________ to _________


                         Commission file number 0-16075

                      CENTURY PACIFIC FINANCIAL CORPORATION
             (Exact Name of Registrant as Specified in Its Charter)


                 (Name of Small Business Issuer in Its Charter)

           Delaware                                      86-0449546
(State or Other Jurisdiction of             (I.R.S. Employer Identification No.)
 Incorporation or Organization)

              1505 E. Weber Street, Suite 120, Tempe, Arizona 85281
               (Address of Principal Executive Offices) (Zip Code)

                                  480-966-6115
                           (Issuer's Telephone Number)

    Securities Registered Pursuant to Section 12(b) of the Exchange Act: None

 Securities Registered Pursuant to Section 12(g) of the Exchange Act: 4,400,021

                          $.004 Par Value Common Stock
                                (Title of Class)

Indicate by check mark whether the Registrant (l) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  Registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. [X] Yes [ ] No

Check if there is no disclosure of delinquent  filers in response to ITEM 405 OF
REGULATION  S-B is not  contained  in  this  form,  and no  disclosure  will  be
contained,  to the  best of  registrant's  knowledge,  in  definitive  proxy  or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB. [ ]

<PAGE>

State issuer's revenues for its most recent fiscal year. $736,316.

State the aggregate market value of the voting and non-voting common equity held
by non-affiliates  computed by reference to the price at which the common equity
was sold,  or the average bid and asked  price of such  common  equity,  as of a
specified  dated within the past 60 days.  As of December  31,  2003,  4,400,021
shares of common stock were  outstanding,  and the aggregate number of shares of
the common stock of the Registrant held by non-affiliates  was 2,444,734.  Until
recently there has been no public market for the common stock of Registrant, and
there is therefore no aggregate market value of the voting and non-voting common
equity held by non-affiliates.

     (ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)

Check  whether the issuer has filed all  documents  and  reports  required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the  distribution  of
securities under a plan confirmed by a court. [X] Yes [ ] No

                   (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. 4,400,021.

                       DOCUMENTS INCORPORATED BY REFERENCE

If the following documents are incorporated by reference,  briefly describe them
and  identify  the part of the Form 10-KSB  (e.g.,  Part I, Part II,  etc.) into
which  the  document  is  incorporated:   (1)  any  annual  report  to  security
holders;(2)  any proxy or information  statement;  and (3) any prospectus  filed
pursuant  to RULE  424  (B) OR (C) of the  Securities  Act of 1933  ("Securities
Act").  The listed  documents  should be clearly  described  for  identification
purposes (e.g., annual report to security holders for fiscal year ended December
24, 1990).

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





















                                      -ii-
<PAGE>

                      CENTURY PACIFIC FINANCIAL CORPORATION

                                   FORM 10-KSB

                                TABLE OF CONTENTS
                                                                            PAGE
                                                                            ----
PART I

     ITEM 1.   DESCRIPTION OF BUSINESS......................................   1
     ITEM 2.   DESCRIPTION OF PROPERTY......................................   9
     ITEM 3.   LEGAL PROCEEDINGS............................................   9
     ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS..........   9

PART II

     ITEM 5.   MARKET FOR COMMON EQUITY AND RELATED SHAREHOLDER MATTERS.....   9
     ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.........................  10
     ITEM 7.   FINANCIAL STATEMENTS......................................... F-1
     ITEM 8.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS................  15

PART III

     ITEM 9.   DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
               PERSONS;COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE
               ACT..........................................................  15
     ITEM 10.  EXECUTIVE COMPENSATION ......................................  16
     ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
               MANAGEMENT ..................................................  17
     ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS...............  17
     ITEM 13.  EXHIBITS AND REPORTS ON FORM 8-K.............................  17
     ITEM 14.  CONTROLS AND PROCEDURES......................................  18
     ITEM 15.  AUDITOR FEES.................................................  18

SIGNATURES..................................................................  19

                                   ----------

                 STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

     THE STATEMENTS  CONTAINED IN THIS REPORT ON FORM 10-KSB THAT ARE NOT PURELY
HISTORICAL  ARE  FORWARD-LOOKING  STATEMENTS  WITHIN THE  MEANING OF  APPLICABLE
SECURITIES LAWS.  FORWARD-LOOKING  STATEMENTS INCLUDE  STATEMENTS  REGARDING OUR
"EXPECTATIONS,"       "ANTICIPATION,"      "INTENTIONS,"      "BELIEFS,"      OR
"STRATEGIES"REGARDING  THE  FUTURE.   FORWARD-LOOKING  STATEMENTS  ALSO  INCLUDE
STATEMENTS  REGARDING  REVENUE,  MARGINS,  EXPENSES,  AND EARNINGS  ANALYSIS FOR
FISCAL 2003 AND THEREAFTER;  FUTURE PRODUCTS OR PRODUCT DEVELOPMENT; OUR PRODUCT
DEVELOPMENT STRATEGIES,  PARTICULARLY AS THEY RELATE TO THE INTERNET;  POTENTIAL
ACQUISITIONS OR STRATEGIC  ALLIANCES;  AND LIQUIDITY AND ANTICIPATED  CASH NEEDS
AND AVAILABILITY.  ALL  FORWARD-LOOKING  STATEMENTS  INCLUDED IN THIS REPORT ARE
BASED ON INFORMATION  AVAILABLE TO US AS OF THE FILING DATE OF THIS REPORT,  AND
WE ASSUME NO  OBLIGATION  TO UPDATE  ANY SUCH  FORWARD-LOOKING  STATEMENTS.  OUR
ACTUAL  RESULTS COULD DIFFER  MATERIALLY  FROM THE  FORWARD-LOOKING  STATEMENTS.
AMONG THE FACTORS THAT COULD CAUSE ACTUAL  RESULTS TO DIFFER  MATERIALLY ARE THE
FACTORS DISCUSSED IN PART I, ITEM 1, "DESCRIPTION OF BUSINESS - RISK FACTORS."

                                     -iii-
<PAGE>

                                     PART I

ITEM 1.  DESCRIPTION OF BUSINESS.

GENERAL

     Century  Pacific  Financial  Corporation  (the "Company" or "Century") is a
holding  company that was formed in 1982 and  commenced  operations  in 1984. It
provides through its principal  subsidiaries a range of financial and commercial
services.  Century and its three subsidiaries are hereinafter referred to as the
"Company".  The  remaining  subsidiaries  of  Century  include  Century  Pacific
Fidelity   Corporation   (Fidelity),   Century  Pacific  Investment   Management
Corporation  (Century Management) and Global Medical Technologies Inc. DBA Tempe
Medical  Equipment (Global  Medical).  Century Pacific Fidelity  Corporation and
Century Pacific Management Corporation are totally inactive at this time and are
without  assets or debts.  Global Medical was formed on April 4, 1999 to buy and
sell refurbished medical equipment.

     Global  Medicals'  business to date has been primarily the sales of new and
reconditioned   medical  equipment.   Emphasis  has  been  placed  on  promoting
reconditioned  medical  equipment  outside  the  country  because of the greater
profit margins  resulting from the sale of  reconditioned  equipment  versus new
equipment.

     Global Medical has established excellent contacts throughout Mexico and has
been  providing a wide variety of medical  equipment and supplies,  ranging from
selling  computerized   tomography  units  to  selling  all  the  equipment  for
hospitals. Global Medical has been profitable since it began and expects to gain
a significant share of the multi-billion  dollar medical equipment market in the
coming 5 years.

OUR PLAN FOR THE FUTURE

     Global Medical sells new and reconditioned  medical equipment to healthcare
facilities  both  inside  the United  States and  abroad.  The  domestic  market
consists of 90,803 medical/surgical  centers, 1,413 HMO's/PPO's,  19,392 nursing
homes, and 6,917 hospitals. Global Medical has focused its efforts on all of the
medical/surgical  centers, nursing homes, and HMO's/PPO's and ten percent of the
hospitals. The total spent on medical equipment purchased by these facilities is
currently  $20  billion  dollars  per  year and is  expected  to grow to over 32
billion per year by year 2010.  The market abroad  includes all privately  owned
healthcare  facilities  and  some  government  hospitals.  The  estimated  sales
potential  outside the United  States is another  $20 billion  dollars per year.
Global  Medicals'  goal is to capture  2% of the  worldwide  market for  medical
equipment by year 2010.

     The need for medical  technology  is  expected  to increase  greatly in the
coming years,  however,  the available  funds for healthcare are not expected to
increase at the same rate.  This will put  considerable  pressure on  healthcare
administrators  to  carefully  watch  their  budgets and use  alternatives  like
reconditioned  medical equipment  whenever  possible.  We plan to be the world's
leader in  reconditioned  medical  equipment  and  discount  pricing on supplies
through Global Medical and the new subsidiaries we intend to acquire.



                                        1
<PAGE>

     We intend to be a consolidation of many different companies specializing in
the field of medical  and bio  technologies,  as well as real estate and capital
equipment  rental.  Each of the  companies  we intend to acquire in the  medical
technologies industry has been in business for several years,  specializing in a
particular  segment of the  industry,  such as  radiology,  patient  monitoring,
ultrasound,  or emergency  medicine.  The primary market for all these companies
has been the  alternate  care market,  the EMS market and the small to mid sized
hospitals  and  medical/radiology  centers.  Most  of  the  focus  has  been  on
reconditioned medical equipment,  although some new equipment is sold also. Each
of the companies  targeted for acquisition are profitable and have established a
strong  relationship  with their customers  throughout the  southwestern  United
States and Northern Mexico.

     Our  projected  to  be  acquired   companies  have  been  selling  new  and
reconditioned  medical  equipment  for several  years now. The most recent year,
2002, has been one of the best in the history of the companies,  thus indicating
that despite a downturn in the US economy, Global Medicals' products are selling
well. The reason for our success,  we believe,  has to do with the fact that the
quality of the  reconditioned  product is better  than before and is more widely
accepted in the market place,  and the healthcare  administrators  are forced to
use alternatives like Global Medicals' due to the current budget constraints.

     Reconditioned  medical  equipment  is being sold for 50% of the cost of new
equipment, and many times with the same warranty as the new equipment. This is a
very  attractive  alternative  for  healthcare  providers  and has  resulted  in
increased  sales.  We believe we will see even greater  sales as the  healthcare
industry is pushed to provide more services with fewer dollars. Global Medicals'
sales of reconditioned  equipment have also opened the doors for increased sales
of new equipment and discounted  supplies since the buyers have gained a greater
familiarity with Global Medical.

     In the international market place, Global Medical is doing quite well also,
sales  are up,  and the  requests  for  product  are  increasing  daily.  Global
Medicals' wide selection of products,  its specialized  technical  support team,
and its  reputation  for  honesty  and  integrity  has  placed it in a very good
position for rapid expansion. With the capital we are seeking, the staff we have
and the  ever-increasing  demand for more product and services,  Global  Medical
should be able to increase sales dramatically.

     Global  Medical  expects  to  open  three  new   distribution   centers  in
northwestern Mexico during 2004. Most of the companies we seek to acquire are in
the  southwestern   United  States  and  comprise  a  wide  variety  of  product
specialties.  It is our  intention to provide our  customers  with  products for
every part of the healthcare  field by merging in the segments of the healthcare
technologies  industry  *that  Global  Medical is  currently in need of. We also
intend to become the leader in providing  reconditioned medical equipment to the
healthcare providers.

     Although reconditioned medical equipment is sold primarily to the alternate
care segment of the healthcare  industry and to small and medium sized hospitals
here in the United States, it is of even greater demand outside the US. Our plan
is to first consolidate the reconditioned  medical equipment industry within the
United States using our regional superstores, and then to begin locating similar
stores worldwide.


                                        2
<PAGE>

     We will need an immediate  capital  investment of $5,000,000 to achieve our
planned  objectives  during  the next year,  and will  endeavor  to raise  money
through  public  offerings to meet the demands of company growth in the years to
come.

OBJECTIVES

     We expect to become  recognized in the medical  technologies  industry as a
leader in  providing  a full  spectrum  of high  quality  new and  reconditioned
medical equipment,  supplies,  and expert technical support.  To achieve this we
intend to:

     o Establish  regional  medical  technologies  superstores that will provide
equipment   and  supplies  in  each  of  the  different   medical   technologies
specialties,  along with twenty four hour,  seven day a week,  expert  technical
support and supplies for the equipment.

     o Establish a master web site that links all the various  specialties  from
each  regional  superstore  so that an on-line  customer can browse  through the
inventory of the entire  network and locate any product  available.  The on-line
customer  can then select any  product  listed and view that item "real time" in
its respective superstore location. Not just a photo as in most other web sites,
but the actual item in question can be viewed upon request.

     o We will  endeavor to use every  marketing  medium  known to us to let the
medical  community  know that they can  fulfill  all  their  equipment,  supply,
consulting and technical service needs from one source, us.

     o We intend to  provide  expertise  on setting up  complete  hospitals  and
surgical  centers on a turn-key  basis.  We will provide the liaison between the
architects,   and  the  engineers  to  provide  the  electrical  and  mechanical
specifications  for  the  buildings  so that  the  equipment  installation  goes
smoothly.  We will also  provide  consultation  for floor plan design and assist
with JCAH compliance and patient safety issues.

     o We also intend to provide equipment financing on a rental/purchase basis.

     Global  Medical  intends  to cut  overall  cost of goods by having  all the
various  specialty  companies under its umbrella share resources,  through extra
price  discounts  because of increased  purchasing  power,  and through  greater
volume discounts on expense items such as payroll  processing,  telephone rates,
and insurance costs.

CUSTOMER SUPPORT

     All equipment  sold comes with a 90-day  warranty on parts and labor.  Each
specialty shall have in-house engineers and experts who can assist with not only
service  related  problems,  but also with  applications  issues  and  training.
One-year  warranties  are common on most new pieces of  equipment,  however  our
subsidiaries will also provide this same warranty,  and/or service contract with
reconditioned equipment when large orders are placed.





                                        3
<PAGE>

RISK FACTORS

OPERATING HISTORY AND RECENT EARNINGS

     In fiscal year ended  September  30, 2003,  we had net loss before taxes of
$(306,454),  in fiscal year ended  September  30, 2002, we had net income before
tax of  $169,300,  and in fiscal  year ended  September  30, 2001 our net income
before tax was  $126,623.  Our  largest  asset is a  long-term  tax benefit of $
715,761.00.

     Prior to April 4, 1999, we received revenue from an investment  banking and
securities  brokerage  business  operated under our former  principal  officer's
license through an independent  contractor  agreement with a regional securities
firm.  Those  operations  have  ceased,  and now all our income is  generated by
Global Medical.

     The medical equipment subsidiary purchases for resale used and occasionally
new medical  equipment to be resold.  Global Medical employs  personnel that are
technically  qualified to  refurbish  both the  electronic  apparatus as well as
structural elements of "hi-tech" medical instruments and machines.

     We maintain our corporate  headquarters  in a leased office located at 1505
E. Weber Street,  Suite 120, Tempe, Arizona 85281. No single client accounts for
more than 50% of Global Medicals total revenue.

BANKRUPTCY

     Our securities business activities were sharply curtailed by the closure of
all business activities  maintained by previously  existing  subsidiaries (other
than Global  Medical) and their  subsequent  filings for either  Chapter 7 or 11
bankruptcy  protection.  We were  released  from  Chapter  11  bankruptcy  (U.S.
Bankruptcy case no.  96-09598-PHX-GBN  filed in May of 1996) and  administrative
surveillance  and  protection  on December 30, 1998.  Settlement of all existing
debts by minimal cash payments or issue of freely tradable stock has settled all
its in a reasonable  period of time. New management  took over in April of 1999.
Management has been approached with merger and or acquisition  proposals several
times, however, actions regarding such proposals had been postponed until Global
Medical reached a stable and profitable trend, which has occurred in fiscal year
2002.

GLOBAL MEDICAL'S  LIMITED OPERATING HISTORY MAY CAUSE FUTURE INVESTORS A PROBLEM
IN  EVALUATING  ITS POTENTIAL  FOR FUTURE  SUCCESS.  THIS IN TURN COULD CAUSE US
DIFFICULTIES IN RAISING NEEDED CAPITAL.

     Global Medical was formed in 1999. It has a limited  operating  history and
limited  historical  financial  information  upon  which  you can  evaluate  our
existing business and our potential for future success.  We face numerous risks,
expenses,  delays,  and  uncertainties  associated with maintaining a profitable
business. Some of these risks and uncertainties relate to our ability to:

     o    increase customer acceptance of our products and services,
     o    develop and renew strategic relationships,
     o    obtain access to new distribution channels,
     o    purchasing used medical equipment at sufficient discounts,


                                        4
<PAGE>

     o    obtain  parts and supplies to  refurbish  the used  medical  equipment
          acquired for resale,
     o    provide  or  contract  for  satisfactory  customer  service  and order
          fulfillment, and
     o    integrate any acquired businesses, technologies and services.

     We may not be successful in addressing these risks and  uncertainties.  The
failure to do so would materially and adversely affect our business.

     As a result of our limited operating history, our plan for rapid growth and
the  increasingly  competitive  nature of the markets in which we  compete,  our
historical  financial data is of limited value in anticipating  future operating
expenses.  Our planned expense levels will be based in part on our  expectations
concerning  future revenue,  which is difficult to forecast  accurately based on
our stage of development. We may be unable to adjust spending in a timely manner
to  compensate  for any  unexpected  shortfall  in  revenue.  Further,  business
development  and  marketing  expenses  may increase  significantly  as we expand
operations.  To the  extent  that  these  expenses  precede  or are not  rapidly
followed by a corresponding increase in revenue, our business, operating results
and financial condition may be materially and adversely affected.

WE FACE INTENSE COMPETITION.

     Our  ability to compete  successfully  depends on a number of factors  both
within and outside our control, including the following:

     o    the  quality,  features,  diversity,  and prices of our  products  and
          services,
     o    our ability to become the supplier of choice for hospital and clinics,
     o    our ability to develop and maintain effective marketing programs,
     o    the quality of our customer service and training,
     o    our ability to  recognize  industry  trends and  anticipate  shifts in
          changes in medical equipment,
     o    the number,  nature, and success of our competitors in a given market,
          and
     o    general market conditions.

     Because  these  factors  change  rapidly,  customer  demand  also can shift
quickly.  We  could  experience  a  material  adverse  effect  on our  business,
operating results and financial condition if we are unable to respond quickly to
market  changes or a slowdown in demand for the products we sell and services we
provide.

     The  competition  is made up of privately  held  companies  which  although
successful in their own areas, fail to provide the full spectrum of both product
and  services  that are  necessary  to meet the demands of the  rapidly  growing
healthcare industry. Whereas all of the competition combined would be a force to
reckon  with,  each  company  separately  lacks  either the  standard of product
quality needed to satisfy the demands of consumer,  or lacks the expertise to be
able to put together the packages required for new hospital projects.

     The reality is that the reconditioned  medical  equipment  industry is very
fragmented.  There are hundreds of small companies  throughout the United States
specializing  in areas of the  entrepreneurs  expertise,  but that are unable to


                                        5
<PAGE>

grow beyond the niche for lack of either funds,  management or expertise. We may
be classed in this group of companies at this time.

CHANGES IN ECONOMIC CONDITIONS MAY ADVERSELY AFFECT OUR BUSINESS.

     Our success depends in part upon a number of economic  factors  relating to
discretionary   business   spending,   including   employment  rates,   business
conditions,  future  economic  prospects,  interest rates and tax rates.  We are
unable  to  estimate  the  impact,  if any,  of the acts of  terrorism  recently
unleashed on the United States on our business.

OUR FAILURE TO CONTINUE  TO DEVELOP AND GROW OUR SALES AND  MARKETING  FORCE AND
EFFORTS COULD ADVERSELY  AFFECT OUR BUSINESS AND RESULT IN DECREASING  SALES AND
LOSSES.

     We do not employ an experienced  sales and marketing  team, and have relied
on  outside  consultants.  We need to employ  experienced  sales  and  marketing
personnel to assist in creating sales. Establishing our sales and marketing team
will involve a number of risks, including the following:

     o    we  may  not  have  adequate  financial  and  marketing  resources  to
          establish and maintain such a team,
     o    we may be unable to hire,  retain,  integrate  and motivate  sales and
          marketing personnel and their support staff, and
     o    new sales and marketing  personnel may require a substantial period of
          time to become productive.

OUR FAILURE TO EFFECTIVELY MANAGE OUR GROWTH COULD IMPAIR OUR BUSINESS.

     Our failure to manage our growth  effectively could have a material adverse
effect on our business,  operating results and financial condition.  In order to
manage our growth, we must take various steps, including the following:

     o    arrange necessary capital to expand our facilities and equipment,
     o    obtain products and services from third parties on a timely basis, and
     o    successfully hire, train, retain and motivate additional employees.

     We  anticipate  that our  future  growth  in our  operations  will  place a
significant strain on our management systems and resources.  We will be required
to increase  staffing and other expenses as well as make expenditures on capital
equipment to attempt to meet the  anticipated  demand of our  customers.  We may
increase  our  expenditures  in  anticipation  of  future  orders  that  do  not
materialize, which would adversely affect our profitability.

DISTRIBUTIONS

     Shareholders are entitled to receive such  distributions as may be declared
by our Board of Directors.  We do not anticipate that any distributions  will be
paid in the foreseeable  future.  Any  distributions  will be generated from our
future cash flow,  and we cannot  provide any  assurances  that we will have any
cash flow to make distributions any time in the future.  Investors may incur tax
liabilities   based  upon  their   involvement  with  us  and  not  receive  any
distributions from us that would be available to pay such tax liabilities.



                                        6
<PAGE>

ECONOMIC AND GENERAL RISKS OF THE BUSINESS

     Our success  will also depend upon  factors that are beyond our control and
cannot clearly be predicted at this time. Such factors include general  economic
conditions,  changes in tax laws,  fluctuating  operating  expenses,  changes in
insurance  reimbursement  for  procedures  performed at  hospitals  and clinics,
changes in health  coverage  by  governments,  and changes in the use of certain
types of medical equipment.

NEED FOR ADDITIONAL CAPITAL

     We presently have  insufficient  capital to acquire other  companies in the
same business  fields of Global Medical.  While our management  believes it will
obtain sufficient funds to make the initial  acquisitions it desires to make, no
assurances  can be  made  given  that  we  will  be  able  to  accomplish  these
objectives.  . No  assurances  can be  given  that we  will  be  able to  obtain
additional  capital or, if  available,  that such  capital  will be available on
terms  acceptable  to us. If our  estimates  for  capital  requirements  are not
accurate,  we may not have  sufficient  funds to complete the  initiation of the
marketing  plan or the  continuation  of  acquiring  more  business  and will be
required  to  seek  additional  capital  through  private  offerings  of  equity
securities.

DEPENDENCE ON MANAGEMENT

     Our success will, to a large extent,  depend upon the quality of management
and the active  participation  of the Board of Directors and the  Officers.  The
loss of the services of any member of existing  management would have a material
impact on our  business  and our  future  prospects.  In the event of the death,
disability  or incapacity of any of the members of the Board of Directors or the
Officers,  we would  have to find a  successor  or  successors  with  comparable
abilities and experience to manage our affairs.  We intend to have an employment
agreement with our President, David L. Hadley, who is a significant shareholder.
We do not  presently  have key man life  insurance for any of the members of the
Board of  Directors or any Officer.  We have plans to obtain  insurance  for our
Officers  and  some key  employees  when we have the  funds  available  for such
purpose.

LIMITED MARKET STUDIES

     We have not conducted any formal,  documented  market studies regarding the
proposed business addressed in this report.

COMPETITION

     Our  competitors  in the area of acquiring,  refurbishing  and selling used
medical  equipment  probably have greater  experience and financial,  technical,
human  and other  resources  than we do.  We  expect  that we will face  intense
competition from these and other unknown or future  competitors.  We are engaged
in highly  competitive  businesses.  Our  services  and  potential  products are
similar to those supplied or capable of being supplied by a number of companies,
some of which have substantially  greater financial and technological  resources
and production and marketing capabilities. Principal competitive factors include
(1) size of the firm, (2) the  capability of technical and sales staff,  (3) the


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<PAGE>

capacity to be innovative and (4) quick response time.  Each of our  competitors
is directly competitive with most of our services or products.

TECHNOLOGY ISSUES

     All medical  equipment has the  possibility  of being made  valueless or of
substantially   reduced  value  by  changes  in  technology.   Our  business  is
technologically intensive and is subject to significant technological change and
innovation.  Technological  developments  are occurring  rapidly and,  while the
effects of such  developments  are  uncertain,  they may have  material  adverse
effect on us.

RISK OF PRODUCT LIABILITY

     The nature of Global  Medicals'  business  exposes it to risk from  product
liability claims. Global Medical currently maintains product liability insurance
for its products, with limits of $1,000,000 per occurrence and $2,000,000 in the
aggregate per annum.

     However, such coverage is becoming increasingly  expensive and there can be
no  assurance  that the  Company's  insurance  will be adequate to cover  future
product  liability claims, or that the Company will be successful in maintaining
adequate product liability insurance at commercially  reasonable rates. To date,
no product  liability  claims have been asserted  against  Global  Medical.  Any
losses that Global Medical may suffer as a result of any future liability claims
or claims in excess of Global  Medicals'  coverage,  may have a material adverse
effect on our  business,  financial  condition,  and results of  operations.  In
addition, any product liability litigation may have a material adverse effect on
the reputation and marketability of Global Medicals' products.

THE FORECAST AND COST PROJECTIONS

     As a threshold  matter,  we may not ever  generate  any  revenues if we are
unsuccessful in implementing our marketing and acquisition  plans.  There can be
no  assurances  that we can  achieve the  results of  operations  assumed by the
forecasts prepared by us. Some of the underlying  assumptions invariably may not
materialize and unanticipated  events and circumstances may occur. Any return to
our  shareholders  on their shares of Common  Stock will be  dependent  upon our
ability to sell  significant  numbers of used medical  equipment and  thereafter
operate our business profitably, which in turn will depend upon economic factors
and conditions beyond the control of our management.

DEPENDENCE UPON KEY PARTIES

     We have several  relationships  with third  parties that are crucial to our
ability to execute our business plan.

MAINTENANCE ISSUES

     If we obtain  sufficient  funding to continue our business  operations,  we
will have to  establish  a system  for  maintaining  the  items of used  medical
equipment we sell,  and we  presently  do not have such a system.  If we are not
able to develop an appropriate  maintenance system or obtain third-party vendors
who are able to  provide  maintenance  services  to us,  it may have a  material
adverse effect on us.

                                        8
<PAGE>

AVAILABILITY OF MATERIALS FILED WITH THE SEC

     The  public  may read and copy any  materials  we file  with the SEC at the
SEC's Public Reference Room at 450 Fifth Street, N.W., Washington, DC 20549. The
public may obtain  information on the operation of the Public  Reference Room by
calling the SEC at  1-8900-SEC-0330.  We are an  electronic  filer,  and the SEC
maintains  an  Internet  site  that  contains  reports,  proxy  and  information
statements,  and other information  regarding  issuers that file  electronically
with the SEC at http://www.sec.gov.

ITEM 2. PROPERTIES

     The Company operates  principally from one location in Tempe,  Arizona.  It
owns no real property.

ITEM 3. LEGAL PROCEEDINGS.

     None.

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

     None.


                                     PART II

ITEM 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY SECURITIES AND RELATED
        STOCKHOLDER MATTERS.

     Our common stock has been  inactive or very  limited in trading  during the
last several years. Subsequent to our initial public offering effective November
12, 1986,  for  approximately  a year and a half, our common stock traded on the
NASDAQ Stock Market under the symbol "CEPA".  Later, as we requested de-listing,
the issue continued  trading on the "Pink Sheet" market or through the "Bulletin
Board" system.  The stock started trading again in 2002 and now trades under the
symbol "CYPC".

               Fiscal 2003                                Price
               -----------                               -------
               First Quarter                             Unknown
               Second Quarter                            Unknown
               Third Quarter                             Unknown
               Fourth Quarter                            Unknown

     As of September 30, 2003, there were 400 shareholders of record.

     Price range of common  stock during this fiscal  year:  it is  management's
recollection that common stock traded  sporadically in pennies,  between 3 cents
and $1.00 however, no regular trading activity was experienced.

DIVIDEND POLICY

     We have not paid cash  dividends on our common shares since our  inception.
We  currently  intend to retain all of our  earnings,  if any,  to  finance  the


                                        9
<PAGE>

development  and growth of our  business and do not  anticipate  paying any cash
dividends in the foreseeable future.

ITEM 6.  MANAGEMENT'S DISCUSSION AND ANALYSIS.

                             SELECTED FINANCIAL DATA

     The following table summarizes certain selected consolidated financial data
and is  qualified in its entirety by the more  detailed  Consolidated  Financial
Statements and Notes thereto  appearing  elsewhere in this Report.  The data has
been  derived  from the  financial  statements  audited  by  Shelley  Intl  CPA,
independent certified public accountant.

                                  YEAR ENDED       YEAR ENDED       YEAR ENDED
                                 SEPTEMBER 30,    SEPTEMBER 30,    SEPTEMBER 30,
                                     2003             2002             2001
                                 -------------    -------------    -------------
STATEMENTS OF OPERATIONS:

REVENUE
  MEDICAL EQUIPMENT SALES        $     736,316    $   1,267,070    $     938,312
  FINANCIAL SERVICES                                     26,054           35,193

TOTAL SALES                            736,316        1,293,124          973,505

COSTS OF GOOD SOLD                     262,738          756,425          579,471

GROSS PROFIT                           473,578          536,699          394,034

EXPENSES
  OPERATIONS/G&A                       467,482          367,399          267,411
  DEDUCT CANCUN INVENTORY              312,550

TOTAL EXPENSE                          780,032          367,399          267,411

INCOME BEFORE PROVISION FOR
INCOME TAXES                          (306,454)         169,300          126,623

PROVISION FOR INCOME TAXES                               66,491           50,442

NET INCOME (LOSS)                     (306,454)         102,809           76,181
                                 =============    =============    =============
BASIC EARNINGS
  (LOSS) PER COMMON SHARE                (0.09)            0.03             0.03

AVERAGE WEIGHTED NUMBER
  OF COMMON SHARES                   3,535,200        2,941,621        2,941,621

DILUTED EARNINGS PER SHARE               (0.09)            0.02             0.02

DILUTED AVERAGE WEIGHTED
  NUMBER OF COMMON SHARES            3,535,200        4,120,021        4,120,021

The notes to the financial statements,  set forth on pages F-9 through F-14, are
an integral part of this Comparative Statement of Operations.

                                       10
<PAGE>

MANAGEMENT'S  DISCUSSION  AND  ANALYSIS OF  FINANCIAL  CONDITION  AND RESULTS OF
OPERATIONS

OVERVIEW

     We are a Delaware  corporation  formed in  December  of 1982.  Our  primary
business  is the sale,  marketing,  and  re-furbishing  of new and used  medical
equipment.  We also provide  technical  expertise and  consultation  to overseas
architects  who are designing new medical  facilities  and have provided all the
medical  equipment  needed for the hospitals we helped  design.  On April 4th of
1999 Global  Medical  Technologies  was formed as a wholly owned  subsidiary  of
Century as part of the Company's reorganization plan. The medical sales division
(Tempe Medical Equipment) of Natural Technologies,  Inc. was sold to Century for
stock and $500,000.00  cash. This formed our primary business and has now become
the sole business  providing revenue to us since all securities  activities have
ceased.

     During the last five fiscal years, 1999 through 2003 we derived our revenue
from sales within the State of Arizona and in Mexico.  Cost of sales include the
purchasing and refurbishing of used medical equipment, new medical equipment and
supplies, parts and contract labor. Operating expenses include general corporate
expenses,  sales  salaries,  taxes,  and  rent,  as well as the cost of  support
services to maintain proper records and import equipment into Mexico.

     Approximately  ninety five percent  (95%) of our sales  during  fiscal 2003
occurred  because of direct  sales.  Most of these sales were from long standing
relationships,  or referrals  from existing  clients.  We have not initiated any
formal  marketing  due to the need for  additional  capital that must be present
prior to accepting additional  workload.  The primary method of selling has been
from "word of mouth  referral",  we have  focused on ensuring  that the existing
customers  are treated well and honestly and we have grown  steadily  each year.
Sales terms have been very  flexible  in order to assist the clients  with their
purchases,  however,  this has  placed a burden  on our cash  flow.  We obtain a
deposit for the  equipment  before any  deliveries  are made and extend  payment
terms of up to one year to pay. The deposit  received usually covers the cost of
the goods sold thus  limiting  exposure to just the profits on the sale. We have
been  fortunate  not to have had any  significant  bad  debt to  date,  and have
maintained title to the equipment being internally  financed until final payment
is made by utilizing a form of rental/purchase process for all of our clients in
Mexico.

     When we import the goods to Mexico that we intend to finance or that have a
balance  still  due,  we import in the name of our  Mexican  affiliate,  (Olivia
Martinez Sanchez or Manuel Francisco  Amavizca),  and then provide final Mexican
invoice  giving title to the client once final payment for the  merchandise  has
been  received.  In the event a client  cannot pay we can recover the  equipment
without  litigation  because  title to the equipment was not given to the client
who is using it.

     During 2003 we took back into  inventory  equipment that had been sold to a
hospital  in Cancun,  Mexico  because  the  hospital  was unable to pay.  We are
currently  negotiating  with the new  management  of the hospital for a suitable
settlement,  however,  we may be forced to use  litigation  in order to  recover
damages.  Although management does anticipate that this equipment will be resold


                                       11
<PAGE>

or  returned  to the  hospital  for  equity  in the  hospital,  there  can be no
assurance of this, therefore, this inventory is being removed from the Company's
books until this issue is resolved. We have not had to recover any equipment for
lack of payment in the previous three years. We have a thirty-day  return policy
and a customer satisfaction  guarantee.  Any customer that is not happy with the
product can return it or we will do whatever is  necessary to repair the defect.
We have had no customers return merchandise on this 30-day guarantee.  We expect
this to continue and do not expect returns for the next year.

     All revenue is recognized  when  shipped.  We do currently  offer  extended
terms on the sales of our  products.  However,  we  intend to create a  separate
division that can process the financing in the future.

     There are no particular external business conditions that have affected our
business in the past,  however,  the war with Iraq had a  significant  impact on
sales during the second and third  quarters of fiscal 2003.  Sales of healthcare
related  products  have  increased in past years and are expected to continue to
increase for the  foreseeable  future.  We plan to raise  additional  capital as
quickly as possible and begin  acquiring  other  companies  that can enhance our
sales and take advantage of the increasing demand in the market. It is essential
that we stabilize  our stock price at a reasonable  value.  This is necessary in
order  to  raise  capital   through  the  sale  of  additional   shares  without
significantly diluting the value of shares owned by the current shareholders. We
are  currently  discussing  merger plans with several  medical  equipment  sales
companies that are also profitable, however we cannot initiate any mergers until
the stock price is stabilized and additional  capital is raised.  We expect that
sales will show a significant  increase beginning in 2004,  provided  additional
capital is raised to support  growth.  There are no seasonal or other aspects in
our financial performance.

     Revenues have been derived  primarily  from the Mexican market in the past.
However, it is anticipated that revenues will be more evenly distributed between
domestic and overseas  sales as we acquire  additional  companies  that actively
market within the United States.

RESULTS OF OPERATIONS FOR THE FISCAL YEARS ENDING SEPTEMBER 30, 2003,  SEPTEMBER
30, 2002 AND SEPTEMBER 30, 2001

     REVENUE.  Total  revenue for the fiscal  years ending  September  30, 2003,
September  30,  2002 and  September  30,  2001 were  $736,316,  $1,293,124,  and
$973,505,  respectively.  The twelve month period ending  September 30, 2003 saw
sales of medical  equipment of $694,441 and equipment  repair service revenue of
$41,875,  and the twelve month  period  ending  September  30, 2002 saw sales of
medical equipment of $1,267,070 and securities  trading revenue of $26,054,  and
the twelve month period ending September 30, 2001 saw sales of medical equipment
of $938,312 and securities trading revenue of $35,193.  The change in revenue is
attributable  to a  considerable  decrease in sales revenue  resulting  from two
factors,  the war with Iraq, and managements emphasis on raising new capital and
seeking merger  partners.  The July 1, 2003  acquisition of the service company,
Applied Medical Technologies,  increased service revenue over the previous years
despite providing only three months of revenue.

     COST OF GOODS SOLD;  GROSS  PROFIT.  Cost of goods sold for the fiscal year
ending  September  30,  2003,  September  30, 2002 and  September  30, 2001 were


                                       12
<PAGE>

$262,738,  $756,425,  and  $579,471,  respectively.  Cost of goods  sold for the
fiscal years ending  September 30, 2003,  September 30, 2002,  and September 30,
2001  were  approximately  36% of  total  revenue,  58% of  total  revenue,  and
approximately  59% of total  revenue.  The  decrease  in cost of  goods  sold of
$262,738 or  approximately  36% of total revenue of fiscal year ending September
30, 2003 is primarily attributable to increased sale of older existing inventory
and reduced overall sales volume.

     Gross profit for the fiscal year ended  September  30, 2003 was $473,578 or
approximately  64%,  gross profit for the fiscal year ending  September 30, 2002
was $536,699 or  approximately  42% of total  revenue,  and gross profit for the
fiscal year ended September 30, 2001 was $394,034 or approximately  40% of total
revenue.  The higher  percentage of gross profit in fiscal year 2003 as compared
to fiscal year 2002 is  primarily  attributable  to the benefit of lower cost of
goods  resulting  from  selling  some  of the  older  inventory.  In 2002 we had
contracts  that required us to supply many pieces of new equipment  with smaller
profit margins.

     SALES, MARKETING,  GENERAL AND ADMINISTRATIVE  EXPENSES.  Sales, Marketing,
General and  Administrative  expenses  for the fiscal year ended  September  30,
2003,  September 30, 2002, and September 30, 2001 were $467,482,  $367,399,  and
267,411 respectively.  Sales, Marketing, General and Administrative expenses for
fiscal year ended September 30, 2003 were  approximately  $100,000  greater than
those of fiscal year ended  September 30, 2002 due increased  cost for legal and
accounting fees associated with  preparation and promotion of private  placement
documents,  and costs  incurred in  recovering  inventory  from the  hospital in
Cancun Mexico.

     INTEREST EXPENSE. Interest expense for the fiscal years ended September 30,
2003,  September  30,  2002 and  September  30,  2001 was  $-0-,  $-0- and $-0-,
respectively. We have internally financed all growth through operating funds and
have  elected  to avoid all forms of debt  financing  that can pose a  potential
threat to us.

     NET INCOME  BEFORE  INCOME  TAXES.  Net income  before income taxes for the
fiscal year ended September 30, 2003, September 30, 2002 and September 30, 2001,
were  $(306,454),   $169,300,  and  $126,623,   respectively.  The  decrease  to
$(306,454)  in fiscal 2003 as compared to fiscal 2001 is primarily the result of
the  deduction  of  inventory  from the  Cancun  Hospital,  increased  operating
expenses, deferred sales revenue resulting from our equipment financing program,
and the decrease in sales  volume  during the fiscal year as a result of the war
in Iraq.

     PROVISION  FOR  INCOME  TAXES.  As of  September  30,  2003,  we  had a net
operating loss carry forward  balance of  approximately  $2,727,728  from losses
incurred prior to 1999, and from the Cancun inventory deduction in 2003.

LIQUIDITY AND CAPITAL RESOURCES

     Our working  capital has  fluctuated  greatly in the previous  periods.  At
September 30, 2003 we had a positive  working  capital of $46,628.  At September
30, 2002,  we had a negative  working  capital of $43,380,  and at September 30,
2001, we had a positive working capital of $174,074. Current assets decreased to
$626,294 at the twelve  months  ended  September  30, 2003 from  $791,411 at the
twelve  months  ended  September  30,  2002.  Current  assets  were  $480,076 at

                                       13
<PAGE>

September 30, 2001.  The changes were due primarily to changes in inventory from
Cancun.

     Our operating activities used net cash during the years ended September 30,
2003 and September 30, 2002 of $3,084 and $46,787  respectively,  as compared to
net cash inflow during the fiscal year ended September 30, 2001 of $106,816. The
major element  contributing to net operating cash flow was cash paid for general
and administrative, increased account receivables, and inventory purchases.

     At the end of the fiscal  year ended  September  30,  2003,  we had current
notes  payable  outstanding  of $85,000.  This note  resulted from a no-interest
short-term  loan from CEO, Mr. David L. Hadley.  Mr. Hadley has agreed to accept
repayment  from  current  receivables  or may  accept  repayment  in the form of
restricted  shares of preferred stock at the share price .15 cents.  This is the
only note  payable.  The current  note  payable  during this period of time bore
interest at rates of 0% per annum.  As of  September  30,  2003,  we had a total
long-term debt of $272,229.

     The long-term  debt still on the balance sheet as of September 30, 2003 was
for the loan from officer in 2002.

     We intend to raise  additional  capital  through  the sale of shares in the
company for the purpose of expansion and to have additional operating capital to
so  support  growth.  We do not intend to have any form of bank loans to finance
growth, only equity financing has been agreed to by the board of directors.

     UNLESS WE RAISE  ADDITIONAL  CAPITAL TO EXPAND OUR BUSINESS,  WE MAY NOT BE
ABLE TO MEET OUR GROWTH EXPECTATIONS FOR THE COMING YEAR.

CAPITAL STOCK

     We have  total  authorized  capital of  105,000,000  shares  consisting  of
100,000,000  shares of  common  stock,  $.04 par  value per share and  5,000,000
shares  of  preferred  stock,  $.05 par  value per  share.  There are  currently
4,400,021  shares of common  stock  issued  and  outstanding,  and -0- shares of
preferred shares issued. Options

     There are currently no option  agreements  in place or granted,  except for
the potential conversion of debt owed to officer for loan.

WARRANTS

     We have no outstanding warrants to purchase shares of common stock.

     We currently are seeking additional sources of financing, which may include
one or more private placements of equity securities. We can provide no assurance
that any additional  financing will be available on terms that are acceptable to
us, if at all.  Our  inability  to obtain  such  financing  could  result in our
inability to continue as a going concern.  If such financing is not available in
sufficient amounts or on satisfactory terms, we also may be unable to expand our
business  or to  develop  new  customers  at the rate  desired,  and the lack of
capital could have a material adverse effect on our business.




                                       14
<PAGE>

ITEM 7. FINANCIAL STATEMENTS

                      CENTURY PACIFIC FINANCIAL CORPORATION


                              FINANCIAL STATEMENTS

                               September 30, 2003
                               September 30, 2002















































                                       F-1
<PAGE>

                                TABLE OF CONTENTS


                                                                         PAGE

COVER SHEET..............................................................F-1

TABLE OF CONTENTS........................................................F-2

INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS' REPORT.........................F-3

BALANCE SHEETS, ASSETS...................................................F-4

BALANCE SHEETS, LIABILITIES AND STOCKHOLDERS' EQUITY.....................F-5

STATEMENTS OF OPERATIONS.................................................F-6

STATEMENTS OF STOCKHOLDERS' EQUITY.......................................F-7

STATEMENTS OF CASH FLOWS.................................................F-8

NOTES TO FINANCIAL STATEMENTS............................................F-9-14


































                                       F-2
<PAGE>

                            SHELLEY INTERNATIONAL CPA
                               161 E. 1ST. ST. #1
                                 MESA, AZ 85201
                                 (480) 461-8301


                REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT


To the Board of Directors/Audit Committee
Century Pacific Financial Corporation

I have  audited the  accompanying  balance  sheet of Century  Pacific  Financial
Corporation  as of  September  30, 2003 and 2002 and the related  statements  of
operations,  stockholders'  equity,  and cash flows for each of the years  ended
September  30,  2003,  2002  and  2001.  These  financial   statements  are  the
responsibility of the Company's  management.  My responsibility is to express an
opinion on these financial statements based on my audit.

I conducted my audit in accordance with auditing standards generally accepted in
the United States of America.  Those  standards  require that I 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.  I believe that my audit provides a reasonable basis for
my opinion.

In my opinion, the financial statements referred to above present fairly, in all
material   respects,   the  financial  position  of  Century  Pacific  Financial
Corporation  as of  September  30, 2003 and 2002 and the related  statements  of
operations, stockholders' equity, and cash flows for the each of the three years
ended September 30, 2003, 2002 and 2001 in conformity with accounting principles
generally accepted in the United States of America.

Shelley International CPA

February 4, 2004
Mesa, Arizona

                                        /s/ SHELLEY INTL CPA














                                       F-3
<PAGE>

                     CENTURY PACIFIC FINANCIAL CORPORATION
                           Consolidated Balance Sheet
                       as of September 30, 2003 and 2002

                                     ASSETS

                                                September 30,      September 30,
                                                    2003               2002
                                                -------------      -------------
CURRENT ASSETS
   Cash                                                                    3,084
   Receivables, net                                   282,469            462,295
   Inventory                                          279,825            257,205
   Current Tax Benefit                                 64,000             64,000
   Prepaid Expenses                                                        4,827
                                                --------------------------------

   Total Current Assets                               626,294            791,411
                                                --------------------------------

EQUIPMENT, net                                         74,371             57,783
                                                --------------------------------

OTHER ASSETS
   Investment in Client Files                         500,000            500,000
   Long Term Tax Benefit                              715,761            715,761
   Other Investments                                   12,900
   Deposits                                             7,800              7,800
                                                --------------------------------

   Total Other Assets                               1,236,461          1,223,561
                                                --------------------------------

TOTAL ASSETS                                        1,937,126          2,072,755
                                                ================================



















         The accompanying notes are an integral part of these statements

                                       F-4
<PAGE>

                      CENTURY PACIFIC FINANCIAL CORPORATION
                           Consolidated Balance Sheet
                        as of September 30, 2003 and 2002

                      LIABILITIES AND STOCKHOLDERS' EQUITY

                                                September 30,     September 30,
                                                    2003              2002
                                                -------------     -------------

CURRENT LIABILITIES
   Bank Overdraft                                         802
   Accounts Payable                                   149,227           153,583
   Business Purchase                                                    294,600
   Note Payable                                        85,000            85,000
   Accrued Salaries                                    45,000
   Income Taxes Payable                                                  12,314
                                                -------------------------------

   Total Current Liabilities                          280,029           545,497
                                                -------------------------------

Deferred Revenue, net                                  87,693
                                                -------------

   Total Liabilities                                  367,722
                                                -------------

STOCKHOLDERS' EQUITY

  Preferred Stock, authorized
  5,000,000 shares, par $0.05,
  no shares outstanding

  Common Stock, authorized
  100,000,000 shares of stock,
  issued and outstanding 4,400,021
  and 2,941,621 shares issued and
  outstanding at September 30, 2003
  and 2002 respectfully, par value
  $0.04 per share                                     176,001           117,665

  Additional Paid in Capital                        4,237,744         3,947,480

  Retained Earnings (Loss)                         (2,844,341)       (2,537,887)
                                                -------------------------------

  Total Stockholders' Equity                        1,569,404         1,527,258
                                                -------------------------------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY                                1,937,126         2,072,755
                                                ===============================


         The accompanying notes are an integral part of these statements

                                       F-5
<PAGE>

                      CENTURY PACIFIC FINANCIAL CORPORATION
                      Consolidated Statement of Operations
              for the years ended September 30, 2003, 2002 and 2001

<TABLE>
<CAPTION>
                                                  9/30/2003       9/30/2002      9/30/2001
                                                  ----------------------------------------
<S>                                               <C>             <C>            <C>
Revenue
   Equipment Sales                                  694,441       1,267,070        938,312
   Service Revenue                                   41,875          26,054         35,193
                                                  ----------------------------------------

   Total Revenue                                    736,316       1,293,124        973,505
                                                  ----------------------------------------

Cost of Goods Sold                                  262,738         756,425        579,471
                                                  ----------------------------------------

   Gross Profit                                     473,578         536,699        394,034
                                                  ----------------------------------------

Selling, General and Administrative Expenses        467,482         367,399        267,411
Loss on Cancun Hospital Inventory                   312,550
                                                  ----------------------------------------

   Total Expenses                                   780,032         367,399        267,411
                                                  ----------------------------------------

Income Before Income Taxes                         (306,454)        169,300        126,623
                                                  ----------------------------------------

Provision for Income Taxes                               --          66,491         50,442
                                                  ----------------------------------------

Net Income (Loss)                                  (306,454)        102,809         76,181
                                                  ========================================

Basic Earnings per Share                              (0.09)           0.03           0.03
                                                  ----------------------------------------

Weighted Average Number of Shares                 3,535,200       2,941,621      2,941,621
                                                  ----------------------------------------

Diluted Earnings per Share                            (0.09)           0.02           0.03
                                                  ----------------------------------------

Diluted Weighted Average Number of Shares         3,535,200       4,120,021      4,120,021
                                                  ----------------------------------------
</TABLE>



           The accompanying notes are an integral part of these notes

                                       F-6
<PAGE>

               CENTURY PACIFIC FINANCIAL CORPORATION Consolidated
                     Statement of Stockholders' Equity from
                    September 30, 1999 to September 30, 2003

<TABLE>
<CAPTION>
                                     Preferred Stock             Common Stock            Paid in      Retained      Total
                                   Shares      Amount        Shares         Amount       Capital      Earnings      Equity
                                   -----------------------------------------------------------------------------------------
<S>                                <C>       <C>           <C>              <C>         <C>          <C>           <C>
Balance, September 30, 1999                                2,941,621        117,665     3,947,480    (2,874,776)   1,190,369

Retained Earnings (Loss)                                                                                157,899      157,899
                                   -----------------------------------------------------------------------------------------

Balance, September 30, 2000                                2,941,621        117,665      3,947,480   (2,716,877)   1,348,268

Retained Earnings (Loss)                                                                                 76,181       76,181
                                   -----------------------------------------------------------------------------------------

Balance, September 30, 2001                                2,941,621        117,665      3,947,480   (2,640,696)   1,424,449

Retained Earnings (Loss)                                                                                102,809      102,809
                                   -----------------------------------------------------------------------------------------

Balance, September 30, 2002                                2,941,621        117,665      3,947,480   (2,537,887)   1,527,258

S-8 Stock issued for services                                200,000          8,000         22,000                    30,000

Stock exchanged for debt                                      80,000          3,200         20,800                    24,000

Stock exchanged for debt                                   1,178,400         47,136        247,464                   294,600

Retained Earnings (Loss)                                                                               (306,454)    (306,454)
                                   -----------------------------------------------------------------------------------------

Balance, September 30, 2003                                4,400,021        176,001      4,237,744   (2,844,341)   1,569,404
                                   =========================================================================================
</TABLE>

On August 12, 2003 the Company had a 2.5 to 1 reverse stock split.  This reverse
split has been retroactively applied to the schedule above.












         The accompanying notes are an integral part of these statements

                                       F-7
<PAGE>

                      CENTURY PACIFIC FINANCIAL CORPORATION
                      Consolidated Statement of Cash Flows
              for the years ended September 30, 2003, 2002 and 2001

                                          9/30/2003     9/30/2002     9/30/2001
                                          -------------------------------------
Operating Activities

Net Income (Loss)                          (306,454)      102,809        76,181

   Changes in Receivables                   179,826      (327,495)       74,260
   Change in Payables                        53,132       148,412        (2,765)
   Depeciation                               20,224        14,345         7,201
   Inventory                                (22,620)      (51,800)        6,237
   Prepaid                                    4,827        21,173       (26,000)
   Deposit                                                 (5,000)       (2,800)
   Deferred Revenue                          87,693
   Stock for Services                        30,000
   Net Change in Tax Benefit                               54,176        41,760
                                          -------------------------------------
   Cash from Operations                      46,628       (43,380)      174,074
                                          -------------------------------------
Investing Activities
   Purchae of Investments                    12,900
   Purchase of Business                                    66,427
   Purchase of Equipment                     36,812        21,980        49,453
                                          -------------------------------------
   Cash Used for Investing                   49,712        88,407        49,453
                                          -------------------------------------
Financing Activities

      Note Payable                                         85,000       (17,805)
                                          -------------------------------------
      Cash from Financing                                  85,000       (17,805)
                                          -------------------------------------
Net Change in Cash                           (3,084)      (46,787)      106,816

Beginning Cash Balance                        3,084        49,871       (56,945)
                                          -------------------------------------
Ending Cash Balance                              --         3,084        49,871
                                          =====================================
Significant non cash transactions

Year 2003
     Stock for debt totaling  1,258,400  shares valued at $318,600
     Stock for services 200,000 shares valued at $30,000

Additional Disclosures

Year 2003
     Interest paid $0, Taxes paid $6,500
Year 2002
     Interest paid $0, Taxes paid $9,682
Year 2001
     Interest paid $0, Taxes paid $8,529

                                       F-8
<PAGE>

                      CENTURY PACIFIC FINANCIAL CORPORATION

                          NOTES TO FINANCIAL STATEMENTS


NOTE 1.  GENERAL BUSINESS AND ACCOUNTING POLICIES

ORGANIZATION AND BUSINESS

Century Pacific Financial  Corporation (the Company) was organized as a Delaware
corporation  on December 29, 1982.  The Company  currently  has two wholly owned
subsidiaries,   Century   Pacific   Fidelity   Corporation  and  Global  Medical
Technologies,  Inc. Century Pacific Fidelity  Corporation is totally inactive at
this time and is without assets or debts. Global Medical Technologies,  Inc. was
formed on April 4, 1999 to buy and sell refurbished medical equipment

BASIS

The financial statements are prepared following accounting  principles generally
accepted in the United States of America.

REVENUE RECOGNITION

For the medical  equipment  sales the revenue is recognized  upon shipment,  FOB
destination  for equipment  delivered by the Company and FOB shipping  point for
shipments  made through  common  carrier.  For the repair  services,  revenue is
recognized when the service is rendered.

For certain sales,  payment are extended wither for six months or twelve months.
These sales are  recognized  ratably over the payment  period.  The net deferred
revenue represents the portion of these sales not yet recognized.

ACCOUNTS RECEIVABLE

The detail of Accounts Receivable is listed below.

                                                  9/30/03       9/30/02
                                                  -------       -------

     Gross Accounts Receivable                    307,031       471,730
     Allowance for Doubtful Accounts              (24,562)       (9,435)
                                                  -------       -------
     Net Amount                                   282,469       462,295
                                                  -------       -------

INVENTORY

Inventory is stated at the lower of cost (first-in, first-out) or net realizable
value. Most medical equipment is bought and sold with little or no refurbishing.
When  refurbishing  is done that  actual  costs is  included  in the cost of the
inventory. Inventory at September 30, 2003 and 2002 consists of the following:





                                      F-9
<PAGE>

                                                  9/30/03       9/30/02
                                                  -------       -------

     Inventory in Arizona                         279,825       257,205
                                                  -------       -------

EQUIPMENT AND VEHICLES

Equipment and vehicles are depreciated using the  straight-line  method over the
estimated useful lives, which is five years.

Fixed assets at September 30, 2003 and 2002 consist of the following:

                                                  9/30/03       9/30/02
                                                  -------       -------

     Office Equipment and Furniture                64,592        27,780
     Vehicles, Forklift                            54,933        54,933
     Less: Accumulated depreciation               (45,154)      (24,930)
                                                 --------      --------
                                                 $ 74,371      $ 57,783
                                                 ========      ========

USE OF ESTIMATES

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

EARNINGS PER SHARE

The basic earnings  (loss) per share is calculated by dividing the Company's net
income available to common shareholders by the weighted average number of common
shares during the year. The diluted  earnings  (loss) per share is calculated by
dividing the Company's net income (loss) available to common shareholders by the
diluted  weighted  average  number of shares  outstanding  during the year.  The
diluted  weighted  average  number of shares  outstanding  is the basic weighted
number  of  shares  adjusted  as of the  first of the  year for any  potentially
dilutive debt or equity.

STOCK BASED COMPENSATION

The Company accounts for its stock based  compensation  based upon provisions in
SFAS No. 123, ACCOUNTING FOR STOCK-BASED COMPENSATION and as amended by SFAS No.
148

CONCENTRATION OF CREDIT RISK

Periodically  during the year,  the Company may  maintain  its cash in financial
institutions in excess of amounts insured by the US federal government.



                                      F-10
<PAGE>

ADVERTISING

Advertising costs are expensed as incurred.  Advertising  expense totaled $2,372
for the year ended  September 30, 2003, $0 for the year ended September 30, 2002
and $0 for the year ended September 30, 2001.

NOTE 2.  STOCKHOLDERS' EQUITY

The Company has no options or warrants  outstanding  as of the end of  September
30, 2003.

In June 2002 the Company had a 7 to 1 reverse  stock split.  This reverse  stock
split  has been  retroactively  applied  to all  years  shown  on the  financial
statements.

On August  8, 2003 the  Company  converted  the debt owed to a related  company,
Natural  Technologies to stock.  The debt of $294,600 was converted to 2,946,000
shares of restricted common stock per the 1999 agreement.

On August 8, 2003 the Company  converted  $24,000 of note payable debt to 80,000
shares of restricted common stock.

On August 12, 2003 the Company had another reverse stock split of 2.5 to 1.

September 2003 the Company  issued 200,000 common stock for consulting  services
valued at $30,000.

NOTE 3.  INCOME TAXES:

The Company  provides for income taxes under  Statement of Financial  Accounting
Standards No. 109, ACCOUNTING FOR INCOME TAXES. SFAS No. 109 requires the use of
an asset and  liability  approach in accounting  for income taxes.  Deferred tax
assets  and  liabilities  are  recorded  based on the  differences  between  the
financial  statement and tax bases of assets and liabilities and the current tax
rates in effect when these differences are expected to reverse.

The  components  of  deferred  taxes  assets at  year-ends  September  30 are as
follows:

                                              2003       2002       2001
                                             -------    -------    -------

     Tax effect of net operating losses      779,801    776,801    827,718
     Other                                         0      2,960      5,979
                                             -------    -------    -------

     Net Deferred Tax Asset                  779,801    779,761    875,697
                                             -------    -------    -------

The estimated federal Net Operating Loss  carry-forwards for the Company and the
corresponding expiration dates are listed below as of September 30, 2003.





                                      F-11
<PAGE>

                                              Amount            Last year
                                            ---------           ---------

     Amount available from year 1991          493,179             2006
     Amount available from year 1992        1,205,511             2007
     Amount available from year 1993          626,560             2008
     Amount available from year 1994           80,024             2009
     Amount available from year 1995           20,249             2010
     Amount available from year 1996            1,593             2011
     Amount available from year 1998              387             2018
     Amount available from year 2003          300,225             2023

     Total NOL as of 9/30/2003              2,727,728
                                            ---------

The provision for income taxes was calculated as follows.

                                             9/30/03    9/30/02    9/30/01
                                             -------    -------    -------
     Net change in the
        deferred tax benefit                       0     41,760      4,668
     Current taxes payable
        (state income taxes)                       0      9,682      3,498
                                             -------    -------    -------

     Provision for Income Taxes                    0     50,442      8,166
                                             -------    -------    -------

NOTE 4.  CONTINGENCIES AND COMMITMENTS

The  Company's  medical  equipment  offices and  warehouse  have a future  lease
expense illustrated below.

                          Year 1      Year 2      Year 3      Year 4      Year 5
                          ------      ------      ------      ------      ------

Real Estate Leases        52,188      30,000      30,000           0           0

The Company sells most of its products to Mexico through a sales agent.  If that
agent were no longer available,  it would cost the Company time and resources to
establish another relationship.

NOTE 5.  RELATED PARTIES TRANSACTIONS

The  Company  shares  office  space  with  Natural  Technologies,  Inc.  Natural
Technologies, Inc. is a major shareholder of the Company.

During the  previous  year the  Company  borrowed  from an officer  $85,000  for
operations. This is a demand note with no interest.

NOTE 6.  RELIANCE ON PRESIDENT

The  president  of the Company is the person who has the  experience  to buy and
sell used  medical  equipment  at a  profit.  If he were to no longer be able or
willing to function in that capacity the Company would be severely affected.

                                      F-12
<PAGE>

NOTE 7.  THE EFFECT OF RECENTLY ISSUED ACCOUNTING STANDARDS

Below is a listing of the most recent relevant accounting standards SFAS 146-148
and their effect on the Company.

SFAS 146 Accounting for Costs Associated with Exit or Disposal Activities

This statement  requires  companies to recognize  costs  associated with exit or
disposal  activities,  other than SFAS 143 costs,  when they are incurred rather
than at the date of a commitment to an exit or disposal plan.  Examples of these
costs are lease  termination  costs,  employee  severance costs  associated with
restructuring,  discontinued operation, plant closing, or other exit or disposal
activity. This statement is effective after December 15, 2002.

SFAS 147 Acquisitions of Certain  Financial  Institutions - an amendment of FASB
Statement No. 72 and 144 and FASB Interpretation No. 9

This statement  makes the acquisition of financial  institutions  come under the
statements 141 and 142 instead of statement 72, 144 and FASB  Interpretation No.
9. This statement is applicable for acquisition on or after October 1, 2002.

SFAS  148  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 Statement 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.

The adoption of these new  Statements is not expected to have a material  effect
on the Company's financial position, results or operations, or cash flows.

NOTE 8.  CONCENTRATION OF BUSINESS

Of the total sales for the year ended 9/30/02,  one customer  represented 55% of
the total sales  revenue,  which was $696,640  sales of the total of $1,267,070.
The hospital debt has proven to be non-collectable.  A large write off was taken
to recognize the loss of inventory.

NOTE 9.  SEGMENT INFORMATION

Segment information is presented in accordance with SFAS 131,  DISCLOSURES ABOUT
SEGMENTS OF AN ENTERPRISE AND RELATED  INFORMATION.  This standard is based on a
management  approach,  which  requires  segmentation  based  upon the  Company's
internal  organization and disclosure of revenue based upon internal  accounting
methods.  For the  years  2002 and prior  management  divided  revenue  into two
categories,  sales of equipment and repair  services.  These two  categories are
shown on the face of the statement of operations.

NOTE 10. CANCUN HOSPITAL DEBT WRITE OFF

A hospital  customer  in Cancun,  Mexico that  purchased a large  portion of the
Company's   products  during  the  previous  year  has   experienced   financial
difficulty, become insolvent, and is being reorganized under new management. The
hospital has continued to operate.


                                      F-13
<PAGE>

Negotiations  with the new hospital  management have progressed very slowly over
the last year.  The hospital has not been willing to finalize an  agreement.  It
could be possible that the Company will not be able to recover all the inventory
associated with the hospital. Although management expects to complete a deal for
the value of this remaining inventory to the new hospital owners, it is at risk.
The total  inventory  associated  with the hospital is $312,550.  Management has
decided to write off this inventory value at this point.  Notwithstanding  this,
management plans to vigorously pursue all legal remedies to resolve this matter.

NOTE 11. NOTE PAYABLE

During the previous year the Company  borrowed  from a  shareholder  $85,000 for
operations. This is a demand note with no interest.











































                                      F-14
<PAGE>

ITEM 8. DISAGREEMENTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

     There were no  disagreements of the type required to be recorded under this
item between the Company and its independent accountants during the fiscal year.

     On September 30, 2001 an  engagement  letter was executed with Shelley Intl
CPA to conduct  audits  covering  fiscal years 1999,  2000 and 2001.  Management
renewed this agreement to cover subsequent years.


                                    PART III

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

     The following table sets forth certain information regarding our directors,
executive officers, and certain key employees:

     NAME                         AGE          POSITION
     ----                         ---          --------
     David L. Hadley(1)            51          President, Chief Executive
                                               Officer and Chairman of the
                                               Board
     Pamela Mairel                 48          Vice President of Operations
     Tommy Ly                      37          Vice President and Member of
                                               the Board
     Syed M. Huq                   57          Secretary and Member of the
                                               Board

David L.  Hadley has served as  President  and CEO of Century  since  1999.  Mr.
Hadley is married with four children. He is Global Medical Technologies,  Inc.'s
founder,  President  and CEO. He graduated  with honors from Devry  Institute of
Technology,  receiving  a BSEET,  and was  further  educated  at  Arizona  State
University where he studied  microcomputer  systems design for two years. He has
completed  studies in Innovative  Design  Strategies  for  Healthcare at Harvard
Graduate  School of Design,  and is a patent  holder for the design of equipment
used to control oxygen concentrations in the blood. Mr. Hadley has established a
considerable  client base throughout  Mexico where he has assisted in the design
and setup of private hospitals there.

Pamela Mairel is the Corporate  Operations  Officer  responsible  for overseeing
operations  and setting up internal  controls  for  purchases  and the  in-house
accounting  software.  She has a Bachelors of Science Degree from the University
of Phoenix and is a graduate of the Dale Carnegie  Institute.  She has more than
twenty  years  experience  in  both  software  accounting  packages  and  office
management.

Tommy Ly is the Vice President of Century and Global,  and is also president and
founder of Ultra  Solutions,  a company that specializes in the sale and service
of  diagnostic  ultrasound  equipment.  Mr. Ly received  his Bachelor of Science
Degree  from  Cal-Poly  University  in 1991.  He also  graduated  from  Cal-Poly
University  in 1999 with a Masters in Business  Administration.  He has 14 years
experience  in the sales and service of diagnostic  ultrasounds,  has worked for
such companies as ACUSON and Acoustic Imaging, and speaks three languages.



                                       15
<PAGE>

Syed M. Huq is the  Secretary,  and is a member of the Board.  He graduated with
honors from Long Island University in New York with an MBA in 1977. He worked as
the  Director  of  International  Credit and  Treasury  Services  for  Honeywell
International,  Inc.  where he was  responsible  for 170  people  and a  monthly
receivable  portfolio of $1.5 billion.  He is the recipient of several corporate
special  recognition  awards during his 27 years with Honeywell,  and has taught
International  Business Management at Western  International  University.  He is
married with two children and is also multi-lingual.

CODE OF ETHICS

     We do not have a  written  code of ethics  that  applies  to our  principal
executive officer,  our principal  financial officer,  our principal  accounting
officer or our controller,  or persons performing similar functions,  and do not
need one at this time. At the present time, our chief executive, David Hadley, a
man of  outstanding  reputation  and who  has the  confidence  of our  Board  of
Directors and major  shareholders,  is performing  those  functions and is being
compensated with stock in our Company. When we grow and have more employees,  we
will revisit the  provisions of Item 406 of Regulation  S-B of the  Securities &
Exchange Commission to determine if we need a written code of ethics.

ITEM 10. EXECUTIVE COMPENSATION

OFFICERS SALARIES              YEAR             SALARY        OTHER COMPENSATION
-----------------              ----             ------        ------------------

David L. Hadley(1)             2003            $60,000             $20,500

------------------
(1)  David L. Hadley has served as our  Chairman of the Board,  Chief  Executive
     Officer and  President.  David L.  Hadley has no stock  options to purchase
     shares of common stock.  Mr.  Hadley's  compensation  for the year 2002 has
     been accrued at $20.500.00 on our books.

     We do not at this time offer  medical  insurance  or other  benefits to our
employees,   including  executive  officers  and  directors  who  also  are  our
employees.

DIRECTORS' COMPENSATION

     We currently do not compensate our employee  directors for their  services.
We  may  reimburse  our  directors  for  certain  expenses  in  connection  with
attendance at board and committee meetings.

EMPLOYMENT AGREEMENTS

     We entered into a consulting  agreement with our President  David L. Hadley
on  September  30,  2002.  Mr.  Hadley  undertook to create and manage sales and
marketing  plans to create sales of products and training and to implement those
services  for us.  Mr.  Hadley has also  performed  the tasks  necessary  to get
Century's stock trading again. Mr. Hadley's annual salary is $60,000.00,  and he
shall receive cash bonuses of not less than $20,000,  payable  quarterly,  to be
negotiated each year based upon successful completion of goals as established by
the board of directors and Mr. Hadley.

                                       16
<PAGE>

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

     The  following  table  sets  forth  certain  information  with  respect  to
beneficial ownership of our common stock as of September 30, 2002 by (i) each of
our directors and  executive  officers,  (ii) all of our directors and executive
officers as a group and (iii) each other person known by us to be the beneficial
owner of more than five percent of our common stock:

                                                       SHARES BENEFICIALLY OWNED
                                                       -------------------------
NAME AND ADDRESS OF BENEFICIAL OWNER                   NUMBER            PERCENT
------------------------------------                   ------            -------

DIRECTORS AND EXECUTIVE OFFICERS (1)

David L. Hadley                                       1,955,287           44.0%
All directors and officers as a group                 1,955,287           44.0%

NON-MANAGEMENT 5% STOCKHOLDER

None

------------------
(1)  Except  as  indicated,   and  subject  to  community   property  laws  when
     applicable,  the persons  named in the table have sole voting and investing
     power  with  respect to all shares of common  stock  shown as  beneficially
     owned by them. Except as otherwise  indicated,  each of such persons may be
     reached through us at 1505 E. Weber Dr., Suite 120, Tempe, AZ. 85281.

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

     We lease  our  office  space  and have  approximately  one year left on our
existing lease.

ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

     (a)  EXHIBITS

          31.1      Certification  of the Chief  Executive  Officer  Pursuant to
                    Section 302 of the Sarbanes-Oxley Act
          31.2      Certification  of the Chief  Financial  Officer  Pursuant to
                    Section 302 of the Sarbanes-Oxley Act
          32.1      Certification  of the Chief  Executive  Officer  Pursuant to
                    Section 906 of the Sarbanes-Oxley Act
          32.2      Certification  of the Chief  Financial  Officer  Pursuant to
                    Section 906 of the Sarbanes-Oxley Act

     (b)  REPORTS ON FORM 8-K

          The  Company  did not file any  reports  on Form 8-K  during  the 2003
fiscal year.




                                       17
<PAGE>

ITEM 14. CONTROLS  AND PROCEDURES

REVIEW OF CONTROLS AND PROCEDURES

     Our principal  executive  officer and principal  financial  officer,  David
Hadley,  after  reviewing and evaluating our disclosure  controls and procedures
within 90 days prior to the filing of this annual report has concluded  that our
disclosure  controls and procedures  are adequate for our size  business.  There
have  been  no  significant   changes  in  our  internal   controls  that  could
significantly  affect these controls subsequent to the date of their evaluation,
including corrective actions.

CRITICAL ACCOUNTING POLICIES

     Our financial  statements and accompanying notes are prepared in accordance
with generally accepted  accounting  principles of the United States.  Preparing
financing  statements requires management to make estimates and assumptions that
affect the reported amounts of assets, liabilities,  revenue and expenses. These
estimates  and  assumptions   are  affected  by  management's   applications  of
accounting policies.  The critical accounting policies for us are the costing of
inventory.

ITEM 15. AUDITOR FEES

     Audit and review fees billed for the year  ending  September  30, 2002 were
$15,000.  Audit and  review  fees for the year  ended  September  30,  2003 were
$15,575.  These fees were all for normal  audit and review  services  associated
with the 10KSB and 10QSB filings.

     No other  services were provided by the auditor.  The federal and state tax
returns were prepared by the auditor.

























                                       18
<PAGE>

                                   SIGNATURES

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

                                        CENTURY PACIFIC FINANCIAL CORPORATION


Date:  February 10, 2004                By:  /s/ David Hadley
                                             -----------------------------------
                                             David L. Hadley
                                             President, Director and
                                             Chief Executive Officer










































                                       19