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

                                   FORM 10-KSB

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

                    For the fiscal year ended: July 31, 2004
                                               -------------

                        IN VIVO MEDICAL DIAGNOSTICS, INC.
                 ----------------------------------------------
                 (Name of small business issuer in its charter)


===============================================================================
         Colorado                    000-49972                  84-1579760
-------------------------------------------------------------------------------
(State or other jurisdiction   (Commission File Number)        (IRS Employer
    of incorporation)                                        Identification No.)
===============================================================================

     The Green House, Beechwood Business Park North,
                   Inverness, Scotland                         IV2 3BL
     -------------------------------------------------        ----------
        (Address of principal executive offices)              (Zip Code)

                 Issuer's telephone number: 011 44-1463-667-347
                                            -------------------

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

         Securities registered under Section 12 (g) of the Exchange Act:
                     Common Stock, par value $.001 per share

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

     Check if there is no disclosure  of  delinquent  filers in response to Item
405 of  Regulation  S-B  contained  in  this  form,  and no  disclosure  will be
contained,  to the best of the  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. [_]

     State the issuer's revenues for the most recent fiscal year: $760,857

     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 date within the past 60 days. As of February 2, 2005: $9,000,000

     State the number of shares  outstanding of each of the issuer's  classes of
common equity, as of the latest  practicable  date:  51,376,686 shares of common
stock, $.001 par value per share, as of February 2, 2005.

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

<PAGE>

                                TABLE OF CONTENTS
                                -----------------
                                                                            Page
                                                                            ----

                                     PART I

Item 1.     DESCRIPTION OF BUSINESS...........................................1
Item 2.     DESCRIPTION OF PROPERTY..........................................15
Item 3.     LEGAL PROCEEDINGS................................................15
Item 4.     SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS..............15


                                    PART II

Item 5.     MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.........15
Item 6.     MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION........16
Item 7.     FINANCIAL STATEMENTS.............................................13
Item 8.     CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
            ACCOUNTING AND FINANCIAL DISCLOSURE..............................13
Item 8A.    CONTROLS AND PROCEDURES..........................................13


                                    PART III

Item 9.     DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
            PERSONS; COMPLIANCE WITH SECTION 16(b) OF THE EXCHANGE ACT.......14
Item 10.    EXECUTIVE COMPENSATION...........................................15
Item 11.    SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
            MANAGEMENT.......................................................16
Item 12.    CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS...................17
Item 13.    EXHIBITS AND REPORTS ON FORM 8-K.................................18
Item 14.    PRINCIPAL ACCOUNTANT FEES AND SERVICES...........................19

SIGNATURES  .................................................................20


<PAGE>


                                     PART I

Item 1. DESCRIPTION OF BUSINESS

General Overview
----------------

In Vivo Medical  Diagnostics,  Inc.  (formerly Sports Information and Publishing
Corp.) (the "Company") is engaged in the development of lateral  applications of
novel measurement  techniques in medical devices with `near-patient' (i.e. point
of care) testing applications.

History
-------

On July 30, 2004,  the security  holders of Hall Effect Medical  Products,  Inc.
consummated the  transactions  contemplated  by a share exchange  agreement (the
"Share  Exchange  Agreement"),  dated as of June 30,  2004,  by and among Sports
Information  and  Publishing  Corp.  (the  "Company"),  Michael D. Tanner,  HEMP
Trustees Limited, as the corporate trustee of the HEMP Employment Benefit Trust,
John Fuller,  Brian Cameron,  Westek Limited,  and the security  holders of Hall
Effect Medical Products,  Inc. As a result of the exchange,  Hall Effect Medical
Products,  Inc.  became our wholly owned  subsidiary  and changed its name to In
Vivo Medical Diagnostics, Inc. ("In Vivo DE").

Thereafter,  the parties to the Share Exchange  agreed to amend the terms of the
agreement  to correct  certain  information  regarding  (i) the number of shares
issued in connection with the  transactions  contemplated by the agreement,  and
(ii) the  capitalization  of the Company both before and after the  transactions
contemplated by the agreement.

Pursuant to the Share Exchange, as amended, the Company:

     o    Increased its authorized capital stock to 100,000,000 shares of common
          stock and 50,000,000 shares of preferred stock;

     o    issued  to the  former  holders  of  8,000,000  shares  of In  Vivo DE
          preferred  stock,  an aggregate of 34,343,662  shares of our 4% voting
          redeemable convertible preferred stock (the "4% Preferred Stock");

     o    issued to the former holders of shares of In Vivo DE common stock,  an
          aggregate of 38,636,453 shares of our common stock;

     o    issued 1,636,233  additional  shares of our common stock to holders of
          $467,495 of  promissory  notes,  issued by In Vivo DE's  wholly  owned
          subsidiaries,  Hall  Effect  Technologies  Ltd.  and Jopejo  Ltd.,  in
          exchange for the cancellation of such notes; and

     o    agreed to cause the resignation of all current members of our board of
          directors   and  appoint  new   directors  as  designated  by  certain
          shareholders or affiliates of In Vivo DE.

Each full share of the Company's 4% Preferred  Stock is  convertible at any time
after October 31, 2005, at the option of the holder,  into one full share of our
common  stock.  The  shares  of 4%  Preferred  Stock  vote,  together  with  our
outstanding  common stock on an "as converted"  basis, at any regular or special
meeting of our stockholders  called for the purpose of electing directors of our
company or to vote on any other  matter  requiring  shareholder  approval  under
Colorado corporate law.

As a result of the transactions and share issuances completed in connection with
the Share Exchange, the Company's capitalization is as follows:

     o    51,376,686 shares of common stock;
     o    34,343,662 shares of 4% Preferred Stock; and
     o    options to purchase 9,659,154 shares of Common Stock.


<PAGE>

Our Subsidiaries
----------------

We have two wholly owned  subsidiaries,  IVMD(UK) Ltd.  ("IVMD") and Jopejo Ltd.
("Jopejo"),  both of which are incorporated  under the laws of England and Wales
and based in Inverness, Scotland.

IVMD(UK) was formed in August 2004 from Hall Effect Technologies Ltd ("HET") who
had  built a  platform  of  patents  from  which to  exploit  unique  commercial
applications.   HET's  operations  were,  historically,   funded  in  part  from
development contracts and government grants, with a majority of funding provided
by its previous major shareholder,  Abacus.  The controlling  interest of Jopejo
Ltd, a biotech research company utilizing similar  development  techniques,  was
purchased  by Abacus  and the  operations  of the  companies  merged to  achieve
development savings.

The  fundamental  premise is in the  transfer  of  measurement  technology,  the
principles of which are known and established in the world of physical  science,
into medical devices with global near-patient applications. This is done through
the creation of novel, patented methods and apparatus for which IVMD is the sole
owner of the  intellectual  property.  One  application,  forecast  to  generate
royalty  revenues from 2005 onwards,  is in the final phase of development  with
route-to-market secured through a major distributor.

Products and Services
---------------------

We currently have applied for eleven patents (see table below),  from granted to
pending, covering the generic application of our products and technology. We are
currently  working on a number of additional  patents for submission  during the
next year. We have  engineered  prototypes on three distinct  products:  We have
allowed  two  additional  patents to lapse  because we believe  that they are no
longer core to our business and have no commercial value for us.

     o    a prothrombin device for measuring the clotting or coagulation time of
          blood in  patients  at risk of heart  disease  and stroke - a critical
          measurement for a condition affecting millions worldwide

     o    a suite of products  for fetal heart  monitoring  and  predicting  the
          onset of labor several weeks in advance of the  commencement  of labor
          pains

     o    a  device  to  establish  proof  of  principle,  and  a  prototype  to
          demonstrate a low cost and  non-harmful  alternative  to  conventional
          X-ray imaging

We have also  established the concept and are developing  proof of principle for
other low-cost and safe magnetic detection systems for additional  applications,
including:

     o    a  minimally-invasive,  rapid and  accurate  system for  detection  of
          compounds within blood

     o    a non-invasive  glucose  monitoring  system for diabetics which can be
          merely  clipped to a patient's ear lobe (or other area with blood rich
          tissue)  and,  without  taking  blood from the  patient,  will measure
          levels of glucose in the blood;

     o    a rapid, non-invasive monitoring device for osteoporosis

     o    a surgical instrument positioning system.

The initial commercial product was a computer input device based on our patented
technology,  known as the "Evomouse,"  which was developed to the point of sale.
Although  the  initial  response  in the  computer  peripheral  press  was  very
encouraging,  we  determined  that this  device is non-core to the future of our
business.  Accordingly,  we  discontinued  production and are seeking to sell or
license rights to the "Evomouse." We have recently  entered into discussions for
this product with a group of private investors from the U.S.

                                        2
<PAGE>

Services
--------

We have  built a  successful  reputation  for  delivering  rapid  prototype  and
production   development  programs.   Using  skilled  managers  with  experience
transferable from other industrial sectors, we can take our concept applications
to prototype and even  production  release stage,  in timescales  vastly shorter
than conventional project management would suggest.

Commercial Arrangements
-----------------------

We have  entered  into a  development  contract  and license  agreement  for our
prothrombin blood clotting measuring device with Inverness Medical  Innovations,
Inc (IMA - Amex)  (`IMI'),  located in  Boston,  MA.  The  development  contract
contributes  over $2 million,  over an 18-month  period,  and  culminates in the
delivery of the initial batch of units for market  launch  during  calendar year
2005.

Thereafter, under our agreement with IMI, we will grant an exclusive,  worldwide
license to IMI for the use of our technology to produce and market a prothrombin
blood clotting  measuring device for which we will receive a royalty equal to 2%
of all net sales of such device.

We, along with our industry  partners,  expect to commence  the  production  and
commercial sale of our prothrombin time blood clotting  measuring device, in the
first half of 2005, respectively.

In  September  2001,  we entered into a letter of intent with Rosti (UK) Ltd., a
subsidiary  of AP  M0ller,  which is a high  quality  plastics  and  electronics
supplier to the medical industry,  located in Copenhagen,  Denmark, for research
into the  exploitation  of additional  commercial  product  applications  of our
monitoring  systems with their  customer  base,  which  includes Sony  Ericsson,
Nokia, Aventis, GlaxoSmithKlein and Maersk Medical.

In addition, our glucose monitoring technology has been examined by Novo Nordisk
(Denmark),  the world's  largest  supplier of insulin for  diabetics,  which has
expressed  that it will enter into a  commercial  agreement  with us when we are
able to demonstrate proof of principle in blood.

Product Descriptions
--------------------

The table set forth below briefly describes our key products, their applications
and advantages over current technology and products.

<TABLE>
<CAPTION>

------------------------------ ---------------------- ------------------------ ------------------------
          Technology                  Product           Key Applications/            Advantage
                                                             Market
------------------------------ ---------------------- ------------------------ ------------------------
<S>                            <C>                    <C>                      <C>
          Blood analyte        Prothrombin blood      Minimally-invasive,      Small, cheap device
          measurement          clotting measuring     accurate and safe,       with rapid measurement
                               device                 characteristic           using world leading
                                                      measuring device for     blood sample size
                                                      heart attack and
                                                      stroke sufferers
------------------------------ ---------------------- ------------------------ ------------------------

          Fetal heart rate     Consumer and           Reliable at-home and     Small, external
          monitor              professional  medical  professional-medical     device. Reliable
                               fetal well being       heart rate monitor for   detection and
                               monitor                unborn babies            continuous signal
                                                                               display. Ease of use.
                                                                               Current professional
                                                                               medical devices are
                                                                               unreliable.  No device
                                                                               capable of untrained
                                                                               use exists.  Device
                                                                               can be produced at
    IN DEVELOPMENT                                                             significantly less
                                                                               cost than current
                                                                               in-market devices.
------------------------------ ---------------------- ------------------------ ------------------------
</TABLE>

                                        3
<PAGE>

<TABLE>
<CAPTION>


------------------------------ ---------------------- ------------------------ ------------------------
          Technology                  Product           Key Applications/            Advantage
                                                             Market
------------------------------ ---------------------- ------------------------ ------------------------
<S>                            <C>                    <C>                      <C>
          Labor predictor      Predictor of labor     Accurate prediction of   High negative and
                               onset                  onset of labor from 6    positive predictive
                                                      weeks out.  Consumer     success. Ease of use.
                                                      device for maternity     No competition exists
                                                      planning                 either in professional
                                                      In hospital,             medical or consumer
                                                      professional care for    markets
                                                      mothers identified
                                                      at-risk for pre-term
                                                      delivery.
------------------------------ ---------------------- ------------------------ ------------------------

          Blood analyte        Blood glucose monitor  Non-invasive, accurate   Small, inexpensive
          measurement                                 and safe, glucose (and   device with rapid
                                                      other) concentration
                                                      continuous bulk
    IN RESEARCH                                       measuring device
                                                      measurement
------------------------------ ---------------------- ------------------------ ------------------------

          Medical imaging      Digital scanning       Non-invasive, safe,      Small and portable,
                               machine                high quality             cheap, continuous
    IN RESEARCH                                       alternative to 2D        display.  No ionizing
                                                      X-ray scanning           radiation.
------------------------------ ---------------------- ------------------------ ------------------------

          Bone density monitor Osteoporosis detection Non-invasive instant     No ionizing
                               and monitoring device  display of bone          radiation.  Cheap and
    IN RESEARCH                                       mineral density for      accurate
                                                      osteoporosis patients
------------------------------ ---------------------- ------------------------ ------------------------

          Internal Surgery     In- theatre detection  Safe and accurate 3D     Alternative to low
                               system                 positioning of           power X-rays, use with
    IN RESEARCH                                       instruments and probes   tomography
                                                      during surgery
------------------------------ ---------------------- ------------------------ ------------------------
</TABLE>

The advantages of our technology can be summarized as follows:

     o    our devices represent the transfer of known technology from physics to
          medicine
     o    our   technology   can  measure   non-invasively   or  with  very  low
          analyte/sample size;
     o    the magnetic fields applied to human use are benign and safe;
     o    our devices  can be  produced  and sold at a much lower cost than most
          competitive products
     o    our devices give `next generation' technical superiority by:
          o    operating  from  direct  current  to  high  alternating   current
               frequencies;
          o    measuring very low levels of displacement; and
          o    working with low level magnetic fields

Marketing Strategy

Our strategy is to maximize the novel use of  transferable  techniques,  exploit
our core skills to build a solid intellectual property platform and optimize our
exit  timing for each  appropriate  application  of the  technology  to maximize
shareholder value.

For each product or group of products we have sought partners who can:

     o    help us identify the market and commercial opportunity;
     o    contribute to the research and development program; and
     o    be the ultimate manufacturer and/or distributor of the end product.

                                        4
<PAGE>


Recent Achievements

Since June 2001, our management team has achieved the following:

     o    Focused  development  of our  technology  to  create  value  around  a
          portfolio  of linked  biomedical  products,  with  enormous  potential
          global market applications.

     o    Demonstrated  the ability to develop a new, novel product from concept
          to  manufacturing  in China,  with the  establishment of marketing and
          distribution channels.

     o    Created a core  skills  base  suited  to the  science  and fast  track
          commercialization of these projects.

     o    Created a network of specialists to allow rapid, low overhead delivery
          of solutions.

     o    Focused  research  programs  delivering  proof  of  principle  on  the
          biomedical applications of the Hall Effect.

     o    Established  a licensing  and  distribution  agreement,  and initiated
          letters of intent and  negotiations  with major  biomedical  companies
          leading to up to 16 separate product opportunities.

     o    Two of our eleven core  patents  have been  granted and the  remaining
          nine are  pending.  We are  currently  working  on  additional  patent
          applications and filings using the Hall Effect  (discussed  below) and
          other transferable technologies to niche exploitation areas.

     o    Secured  capital  investment  from the UK government via the Inverness
          and Nairn Enterprise Regional Development Board which has taken equity
          and  guaranteed a program to provide  partial  funding for three major
          development programs.

     o    Started  two PhD.  Research  programs  at  Strathclyde  University  in
          Glasgow,  Scotland to further our  research  in  non-invasive  analyte
          measurement.

Scientific Platform
-------------------

The Hall Effect and Magnetic Systems

We  have  unique   expertise   with  the  Hall  Effect  as  applied  to  medical
applications.  The Hall Effect is a physical  principle  that was  discovered in
1875, but whose  applications  were not fully utilized until the introduction of
modern high sensitivity and custom-made semiconductors and contemporary computer
processing power.

The  definition of the Hall Effect is the  generation  of an electric  potential
perpendicular  to both an electric  current flowing along a conducting  material
and an external  magnetic field applied at right angles to the plane  containing
the current and Hall field.

We  have  pioneered  the  use  of  Hall  Effect  devices  in  highly   sensitive
proportional measurement,  exploiting their ability to measure to extremely high
levels of accuracy in many environments.  We have combined this basic technology
with magnetic system design and digital signal processing to create non-invasive
measurement  systems  which can  characterize  compounds  and  measure  bulk and
concentration at a molecular level.

Advanced Electronics and Signal Management

In developing these very accurate measuring  devices,  we have built substantial
knowledge and intellectual property around the acquisition and processing of low
and ultra-low level electrical signals,  with particular attention to techniques
for noise  cancellation,  compensatory  processes  for  extraneous  signals  and
temperature  effects.  In particular,  these  techniques have significant use in
fetal monitoring  applications where low-level  electrical signals acquired from
the patient can be effectively processed, enabling novel and valuable diagnosis.

                                        5
<PAGE>

These advantages combine to produce opportunities for the measurement of medical
conditions  either  never  before  measured  or  in  so  effective  a  way  that
near-patient  monitoring previously greatly demanded but technically impossible,
can now be a cost-effective reality.

Intellectual Property

We believe that our science and  capability is unique.  In view of the low level
of published  research and patent activity around these measurement  principles,
to our  knowledge,  no  other  company  or  group  has  attempted  to use  these
techniques for these levels of measurement to develop product applications.  Our
intellectual property is based upon our ability:

     o    to work at an appropriate physical level to specify magnetic systems

     o    to develop high  sensitivity  Hall Effect devices using Molecular Beam
          Epitaxy (manufacturing) techniques;

     o    to use the Hall  Effect  in high  precision  proportional  measurement
          applications;

     o    to provide  advanced  signal  processing  and  control  techniques  to
          extract low level signals in biological systems; and

     o    to establish  techniques  for  measuring  low-level  effects with high
          levels of precision.

In all cases, we own the intellectual  property associated with our products and
applications. In addition to our issued patents and pending patent applications,
we are in the  process of filing for several  additional  patents at both a core
principle and application levels.

Our eleven core patents and patent applications consist of the following:

 Patents                        Pending                              Granted
---------------------------     ----------------------------------   -----------
Blood Coagulation (Unipath)     China, European Patent, Japan, US
Ref: 23827.GB
---------------------------     ----------------------------------   -----------
Blood Monitor (Q-Meter)         China, European Patent, Japan, US
Ref: 1 (4)
---------------------------     ----------------------------------   -----------
Blood Monitor                   China, European Patent, Japan, US
(Susceptibility)
Ref: 1 (5)
---------------------------     ----------------------------------   -----------
Heart Monitor                   China, European Patent, Japan, US
Ref: FP3061
---------------------------     ----------------------------------   -----------
Immunoassay                     China, European Patent, Japan, US
Ref: P/25260
---------------------------     ----------------------------------   -----------
Labor Prediction                European Patent, Japan               United
Ref: FP2708                                                          Kingdom, US
---------------------------     ----------------------------------   -----------
Magnetic Separation             First Filing
Priority Date:
19/06/2004 GB
---------------------------     ----------------------------------   -----------

                                        6
<PAGE>


 Patents                        Pending                              Granted
---------------------------     ----------------------------------   -----------
Medical electrode               China, European Patent, Japan, US
Ref: P3129
Mouse                           Japan                                China,
Ref: 1 (1)                                                           Germany*,
                                                                     European
                                                                     Patent,
                                                                     France*,
                                                                     United
                                                                     Kingdom*,
                                                                     US
---------------------------     ----------------------------------   -----------
Scanner                         China, European Patent, Japan, US
Ref: 1 (3)
Surgical Positioning            China, European Patent
Ref: 1 (2)
---------------------------     ----------------------------------   -----------

* European Patent

Path from Research to Products

Most advanced in development is the prothrombin time measuring device,  with our
goal to deliver a finished product under our commercial development license with
IMI in 2005.

Our fetal monitoring  applications are  technologically the second most advanced
in our medical device portfolio as we enter the second phase of clinical trials.
To support the direction of our product development in line with our strategy of
keeping  the  application  focused on the end user,  we have  already  conducted
market  research in clinics in both the US and the UK. These have  substantiated
the end product  portfolio and given critical insights into the potential issues
related to the ultimate marketing of the products.

Although  a  significant  number  of  other  product   opportunities  are  under
consideration for magnetic susceptibility and dielectric dissipative measurement
systems  (and  we  believe   substantially   more  are  undoubtedly  yet  to  be
considered), the focus of our ongoing development research has been to establish
a core  platform  with  specific  emphasis on  non-invasive  measurement  of the
glucose content of blood.

Initial Commercialization Strategy

The prothrombin blood clotting time measurement  device and the fetal monitoring
devices  utilize  much of the core  science and  technology  that applies to the
applications in research.

The  nature  of the  commercial  contracts  for  these  two  products  is  quite
different.  For the  prothrombin  time  measurement  device  we are  essentially
providing a front-end  measuring system for a product that will be independently
developed, produced and marketed by the Unipath division of IMI.

In the case of the fetal monitoring  devices,  we are producing  semi-engineered
prototypes  for  clinical  trials  that are in the  process of  completion.  Our
commercial  strategy  for these  devices  is to have the  devices  produced  and
assembled  for us in China and  contract  with  partners  that can  assist us in
marketing and distributing  the products.  We intend to rely on our distribution
partner's  experience  and  contacts  with the  end-users  on issues of  product
features,  functions and performance criteria. We are also in discussions with a
second  commercial  partner who would take the product  into the US,  Europe and
other  world  markets.  These  arrangements  only  cover the  consumer  range of
products  and further  partnerships  are being sought for  professional  medical
devices.

                                        7
<PAGE>

Products

`Evomouse'

This  device  uses the Hall  Effect  in a  proportional  way to  provide  unique
performance through four axes of input movement.  As such it provides intuitive,
single-handed  control for computer gamers and has received  critical acclaim by
major specialist press. Negotiations are ongoing for licensing the technology to
software  and  hardware   producers,   including  Sony  and  Guillemot  (branded
`Thrustmaster'). This product was the first of a projected suite starting with a
targeted  offering at the gaming market and has opened  opportunities  for field
licenses  for  gaming  controllers  such  as  joysticks  as  well  as  the  more
conventional mouse type product.

Prothrombin Blood Coagulation Time Measuring Device

The prothrombin  time (PT) is one of the most important  laboratory  measures to
determine  the  functionality  of the blood  coagulation  system.  It is used in
patient care to diagnose diseases of coagulation, assess the risk of bleeding in
patients undergoing  operative  procedures,  monitor patients being treated with
oral anticoagulant  (coumadin) therapy,  and evaluate liver function.  The PT is
performed  by  measuring  the clotting  time of  platelet-poor  plasma after the
addition of calcium  and  thromboplastin,  a  combination  of tissue  factor and
phospholipid.

Both of the techniques in development,  magnetic  susceptibility  and dielectric
dissipation,  can more  easily be  applied to  measuring  in-vitro  rather  than
in-vivo  analytes.  The  principles  of  measurement  remain the same.  For this
specific  application  however,  we are developing  the magnetic  susceptibility
method  as we  have  ascertained  that  this  gives  us the  most  accurate  and
repeatable measurement of clotting time and also the best grounds for a suite of
unchallengeable patents.

As in the current  practice in diabetic glucose  monitoring,  we extract a small
drop of blood from a finger  and place it on a strip.  The prime  advantages  in
using our PT measurement system over current devices are twofold:  (a) cost, and
(b) the fact that our device only requires 1 microliter of blood,  significantly
less invasive than the 20 microliters  of blood required by the only  comparable
systems.  This makes it more likely to be used  frequently  and hence reduce the
downstream cost of care for patients.

Market for PT Monitors

During  the last few years PT  monitors  have been  increasingly  proposed  as a
substitute for  conventional  laboratory  systems to control oral  anticoagulant
treatment.  The  distinct  advantage  is  that  they  can be  used  for  patient
self-testing. Their use in combination with computer programs designed to adjust
the dosage is predicted to open a new era in oral  anticoagulant  monitoring and
all parties involved will benefit from such a revolution.

Physicians in charge  (specialists  and general  practitioners)  will be able to
handle the  increasing  numbers of patients on oral  anticoagulants.  Laboratory
workers now engaged in lengthy  routines  will now be available for other tasks.
Health  services  groups and  organizations  may save a  considerable  amount of
economic   resources   now  spent  in  the   management   of  patients  on  oral
anticoagulants. Patients themselves will benefit by spending less time attending
overcrowded waiting rooms.

An estimated 17 million people  worldwide die of  cardiovascular  diseases every
year,  particularly heart attacks and strokes (Source:  WHO). The total European
market  revenues in 2004 is  estimated to be 150 million euro and is expected to
increase to 375  million  euro in 2009 with  marked  increases  in point of care
testing and  decreases in laboratory  testing and sample size forecast  (Source:
Frost & Sullivan)

The current  benchmark PT monitor is the CoaguChek system marketed by Roche. Our
patents in the PT monitors  include both the  configuration  of the  measurement
apparatus and the detail of the strip design. The principal advantages of our PT
Monitor over the CoaguChek system is shown in the table below.

                                       8
<PAGE>



Feature            CoaguChek                      IVMD
------------------ ------------------------------ ------------------------------
Pain of use        Inhibitive                     Micro-lance - `pin-prick'
------------------ ------------------------------ ------------------------------
Blood volume       20 microliters                 2 microliters
------------------ ------------------------------ ------------------------------
Ease of use        Complex & error prone process
------------------ ------------------------------ ------------------------------
Size of device     Desk top                       Hand-held; mobile phone
------------------ ------------------------------ ------------------------------
Cost of device     $1,295                          nominal
------------------ ------------------------------ ------------------------------
Cost of strip      $4.83                           nominal
------------------ ------------------------------ ------------------------------
Power consumption  Multi, hi-capacity batteries   Pen-torch style, low-capacity
------------------ ------------------------------ ------------------------------

Fetal Monitoring Devices

We are currently  completing  development of two  interlinked  fetal  monitoring
devices - fetal heart  monitoring and the prediction of labor onset (POLO) - has
had two phases of clinical trials conducted in Leeds, England.

Fetal  heart rate is the most  reliable  measure of fetal  well-being  and is an
important  part of antenatal and  intrapartum  care.  Currently  physicians  and
midwives  use  auscultation  - merely  listening  through  a  trumpet - or small
ultrasound devices that detect the fetal heart through the Doppler effect.  Both
methods are unreliable  and do not give accurate  diagnostic  capability.  Labor
onset (palpation of tightenings and contractions) is currently estimated through
observation  of uterine  activity by the mother,  the  general  practitioner  or
midwife.  Again there is little predictive  accuracy in these methods and, while
there are interventions to manage prematurity,  Their application follows no key
rules and is often subjective.

There  are  a  number  of  diagnostic,  specialist,  hospital-based  systems  in
development but these are costly,  expert-centered  and not highly successful in
negative and positive prediction of labor onset.

There are no methods  available or in  development  for home,  unskilled  use by
mothers-to-be  for listening to their developing  baby's heartbeat or predicting
the onset of their labor.

Through  developing a practical  application from a recently  published piece of
science  regarding  myometrial  activity,  we have  created  devices  capable of
extracting low-level electrical signals from the uterus.

These are acquired from electrodes  placed on the surface of the abdomen and, by
using in-house developed algorithms can demonstrate birth onset windows from two
weeks in advance.  In addition,  the fetal heart rate can be extracted  from the
resulting algorithms and an instant display of fetal well being given.

The next  development  phase and the third phase of clinical  trials will extend
the capability of these signals and algorithms to give much greater accuracy.

Market for Fetal Monitoring Devices

There  are  600,000  births  in the UK  each  year,  4,000,000  in the US and an
estimated  4,000,000 in the  countries of the rest of the world in which we have
patents  granted or pending,  excluding  China. In  consideration  of the market
size,  socio-demographics  play a key  role  in  estimating  the  potential  for
'over-the-counter'  device  sales while health care  'cost-of-quality'  plays an
important factor in professional  medical devices - particularly with respect to
the care of the 15% of  mothers  who are  currently  considered  'at  risk'  for
premature  delivery.  These factors have been taken into account when developing
the  market  research  clinics  we have  held in the UK and US.  We have not yet
studied detailed market  socio-demographics  to determine the size of the market
for our products in China.

                                        9
<PAGE>


Our Suite of Fetal Monitoring Products

A suite of  products  are  envisioned  with  linked  styling  and  progressively
increasing levels of diagnostic and data storage capability to cater to both `at
home' and maternity ward use.

A further  element in the product suite is the  inclusion of disposable  contact
pads which are used with the predictor and professional medical products.  These
are uniquely keyed to the machines and provide an important revenue generator.

Ultimately  this product will enable a  significant  advance in near patient and
remote care through  software  which is easily  downloadable  and  transmissible
using conventional communications media.

In Research
-----------

Non-Invasive Blood Analyte Measurement Products

Two  methodologies  are in  development  which can,  either in  isolation  or in
combination, identify and measure analytes within a fluid or suspension.

The first technique, `magnetic susceptibility',  subjects the sample, in-vivo or
in-vitro,  to a  known  magnetic  field.  As all  substances,  whether  para  or
diamagnetic,  are  susceptible  to the field by virtue of the ions and electrons
within the molecule,  they are displaced by varying amounts.  By introducing our
developed  magnetic  systems and circuitry,  this  displacement  can be measured
using sensitive,  but conventional,  Hall Effect devices and appropriate  signal
analysis software (again unique to HET).

The  second  technique,  `dielectric  dissipation',  quantifies  the  dielectric
properties  and in  particular,  the loss factors of the subject  analyte at the
resonance frequency of the molecule.  By determining the energy loss, or quality
factor, of the analyte its  concentration in fluid can be determined.  Where the
resonant  frequency of different analytes is very similar a known magnetic field
can be introduced to displace the molecules  and  differentiate  their  resonant
frequencies.

Our  work  in  this  area  has  focused  on the  non-invasive,  continuous  bulk
measurement of the glucose content of blood.

The Market for Glucose Measuring Devices

Worldwide  annual sales of  self-monitoring  glucose products for diabetics were
estimated  to  have  totaled  $5  billion  in  2003  and  are  forecast  to grow
approximately 10% compounded annually (Source:  Abbott Laboratories).  Worldwide
there are estimated to be currently 175.0 million diabetics, forecast to rise to
366 million by 2030 as diagnosis  improves and lifestyles  become more sedentary
(Source: WHO). Primary diabetes care costs are a significant factor but indirect
costs are a more substantial burden to healthcare services as diabetes is one of
the most  prevalent  causes of  blindness,  kidney  disease,  nerve  disease and
amputations, heart disease and stroke.

A typical  diabetic in the developed  world consumes  between $320 and $1,120 of
resource and  materials  per annum.  Management  of the  condition may require a
sample of blood to be drawn several times every day - an often painful process.

Currently,  the supply of glucose testing  equipment is dominated by Johnson and
Johnson, Roche Diagnostics, Abbott Medicines and Bayer Diagnostics with combined
sales of 87% of disposable  strips.  The US market  reached $2.6 billion in 2002
with an estimated compound annual growth rate (2002-2005) of 13.1%. Therefore it
is key to improve glucose meter technologies to encourage frequent testing.

All the major players,  and some smaller  technology  companies,  are developing
technologies to measure non-or  minimally-invasive.  Minimally  invasive methods
are based on either a correlation of  interstitial  fluid glucose  content or an
implant   able   glucose    biosensor.    Non-invasive    methods   use   linear
absorption/transmission  spectra of near infrared  light or the magneto  optical
rotator  effect.  Some are close to market  launch but all are costly,  sizeable
machines and none measure bulk readings or continuously.

                                       10
<PAGE>


Our Glucose Blood Monitoring product is being designed to be a pocket calculator
sized  device  with a small clip to attach to the ear lobe or finger to obtain a
reading.  The  advantages  are  that it will be  safe,  truly  non-invasive  and
accurately monitor and provide  continuous,  bulk trends in real time. It can be
produced very cheaply and provide  substantial  cost savings and health benefits
to users over time.

We believe that it will be capable of being offered to healthcare purchasers, in
consideration  of the benefits to health  authorities,  for a wholesale price of
$200.

We believe that the market  potential  for this product is huge, as reflected in
the statistics set forth below:

<TABLE>
<CAPTION>

                   ---------------- --------------- ---------------- ---------------- ---------------- ---------------
                   No of            25 year         Memo:            Memo:            Target use       Target sales
                   diagnosed        predicted       Self             Self             within           volume by
                   diabetics        growth          monitoring       monitoring       diabetic         year 5
                   (`000)           (%)             market size      market           population at    (`000)*
                                                    ($m)             forecast
                                                                     year 5
                                                                     growth (%)
------------------ ---------------- --------------- ---------------- ---------------- ---------------- ---------------
<S>                <C>              <C>             <C>              <C>              <C>              <C>
UK                 1,440            27              154.4            16.0             1 in 15          96
------------------ ---------------- --------------- ---------------- ---------------- ---------------- ---------------
USA                10,300           47              1001.6           13.8             1 in 15          687
------------------ ---------------- --------------- ---------------- ---------------- ---------------- ---------------
W. Europe          7,100            35              982.4            16.0             1 in 25          355
------------------ ---------------- --------------- ---------------- ---------------- ---------------- ---------------
Other Regions**    30,400           32              639.2                             1 in 100         304
------------------ ---------------- --------------- ---------------- ---------------- ---------------- ---------------
India              22,900           150                                               1 in 200         115
------------------ ---------------- --------------- ---------------- ---------------- ---------------- ---------------
China              18,600           102                                               1 in 250         75
------------------ ---------------- --------------- ---------------- ---------------- ---------------- ---------------
Memo: World Total  154,400          94              2777.6           $6.4    billion
                                                                     by year 5
------------------ ---------------- --------------- ---------------- ---------------- ---------------- ---------------
</TABLE>
___________________

     *    Assumes  that the product will have a 5 year life cycle and that sales
          will peak at the target level **  Countries  outside of Europe and the
          US where patent cover is pending or granted
____________________

Other Potential Products

In addition to Glucose blood  monitoring,  our intellectual  property covers the
use of the  technology  for the measure and  monitoring  of any blood  analyte -
either one which occurs  naturally  or is  introduced  (i.e.,  through a drug or
carrier). Typical examples of minimally or non-invasive applications are:

o        Oxygen - continuous goniometry
o        Estrogen - fertility measurement
o        Protein markers - for gene evaluation / modification programs
o        Drugs
o        Alcohol

Medical Imaging

Currently simple, two-dimensional imaging is carried out in hospitals and dental
practices using conventional X-ray techniques. This relies on the use of harmful
ionizing  radiation and operators,  and patients,  must take great care to avoid
damaging overexposure.

The magnetic susceptibilities of bone and blood rich tissue differ significantly
and  therefore  when part of a body is placed  between a magnetic  source and an
array of Hall devices differential  measurements can be taken to create an image
with  very high  resolution.  If a TFT  screen,  a device  similar  to a lap-top
computer,  is  utilized  with pixel  dedicated  Hall  Effect  chips then a small
portable,  and even flexible,  device can be created. This creates opportunities
for new and existing markets for low cost, high quality imaging.

In the UK the 355 hospital  trusts have anything from a single unit in a cottage
hospital to 15-20 X-ray rooms in a large  hospital.  Increasingly  hospitals are
using digitally  mastered  images to hold and network patient files.  Diagnostic
imaging  sales are on the  increase  both in the UK and the US with x-rays being
the largest growth sector.

US figures are shown in the table below.

                                       11
<PAGE>

<TABLE>
<CAPTION>

------------------- ----------------- ----------------- ----------------- ----------------- -----------------
                    1999 $ million    % Market Share    2004 $ million    % Market Share    AAGR %
                                      1999                                2004              1999-2004
------------------- ----------------- ----------------- ----------------- ----------------- -----------------
<S>                 <C>               <C>               <C>               <C>               <C>
X- ray and          1923.5            47.3              2794.5            52.1              7.8
digital X-ray
------------------- ----------------- ----------------- ----------------- ----------------- -----------------
CT and ultrasound   1707.2                              2091.1                              4.1
------------------- ----------------- ----------------- ----------------- ----------------- -----------------
Nuclear medicine    401.7                               474.4                               3.4
------------------- ----------------- ----------------- ----------------- ----------------- -----------------
Total               4033.4                              5360.0                              5.9
------------------- ----------------- ----------------- ----------------- ----------------- -----------------
</TABLE>

The target for this  product is a variant of the  2-dimensional  imaging,  X-ray
market currently dominated by Philips,  Seimens and Toshiba. This device will be
substantially  cheaper with no harmful  effects,  require less user skill and be
more  compact to the point that a portable  unit is planned  for use in-situ for
trauma cases. In dentistry,  where different  manufacturers  compete, it will be
attractive  on cost and function as well as being  intrinsically  safer and more
user  friendly  and will be a direct  replacement  for the  current  intra-  and
pan-oral devices.

Bone Mineral Densitometry

Osteoporosis  affects  one in three  women and one in fifteen men in the western
world. As a health care issue it is becoming more prevalent as lifestyles become
more sedentary and diet less varied. In addition the  de-mineralization  of bone
in young  children  is becoming  an issue of  increasing  concern in the western
world, as diets are becoming less mineral rich - particularly in calcium.  There
are  further  complications  in  the  scanning  of  children  for  bone  mineral
deficiency as current  processes  require the child to lie perfectly still for a
number of minutes.

In conjunction  with a commercial  partner,  we are researching a variant of the
medical  imaging  technology  which also  utilizes  the  dielectric  dissipative
measuring   technique  to  detect  and  quantify   more   accurately   and  more
conveniently,  the onset and early stages of the disease.  We have filed patents
in this area for the application of our technology.

Two product streams are envisioned. The first is a hospital use device of a size
capable of performing whole body scans. The second is a hand-held device,  which
could scan a finger or vertebrae,  and give accurate and rapid  readouts of bone
mineral   levels.   Both  devices  would  give  an  instant  reading  against  a
patient-trend benchmark.

While we have yet to formally  conduct a market  review we  estimate  the market
value for  over-the-counter  devices alone to grow to in excess of $800 million*
per year by 2007.  A full study will be launched  when the concept  demonstrator
stage is reached.

Internal Surgery

This project is a spin-off from our positional work. Using sensitive Hall Effect
devices in a magnetic field accurate  internal  positioning of surgical  probes,
instruments and other internal medical devices can be achieved. Current practice
uses  low  power  X-rays  and  computer  tomography  however  this  carries  the
disadvantage of using ionizing radiation. This is of particular value in keyhole
surgery and the treatment of certain  cancers and where magnetic  markers can be
used to identify  locations  within the body.  Ideally  this  technology  can be
combined  with  force  feedback  techniques.  Patents  have  been  filed and the
development program specified.

Product Summary - Technologies and Applications Currently in Development

The  following  definitions  set forth the current stage of  development  of our
technology, in terms of the products we have proven as to concept,  functionally
demonstrated, produced prototypes, or are in actual volume production.

                                       12

<PAGE>

<TABLE>
<CAPTION>

Phase 1                 Phase 2               Phase 3             Phase 4                Phase 5
----------------------- --------------------- ------------------- ---------------------- --------------------
<S>                     <C>                   <C>                 <C>                    <C>
Concept Proving         Functional            Semi - engineered   Fully - engineered     Volume Production
                        demonstration         prototypes          prototypes
----------------------- --------------------- ------------------- ---------------------- --------------------
Bench and laboratory    Bench simulator       Batch production    As final production    For sale to market
to substantiate         which can             to finished         version used for
hypothesis              demonstrate           design using some   field trials in
                        capabilities          production          market
                                              materials and
                                              techniques
----------------------- --------------------- ------------------- ---------------------- --------------------
                                              3 and 4 may         run                    Tooling will start
                                              concurrently        depending on           in advance of...
                                              confidence          levels in
                                              materials and       production
                                              techniques
----------------------- --------------------- ------------------- ---------------------- --------------------
0+ 6 months             0+ 10 months          0+ 16 months        0+20 months            0+24 months
----------------------- --------------------- ------------------- ---------------------- --------------------
Capability:
----------------------- --------------------- ------------------- ---------------------- --------------------
IVMD  - current         IMDV + resource       Small consortium    Larger consortium      Current market
                                              Current market      Current market player  player
                                              player
----------------------- --------------------- ------------------- ---------------------- --------------------
</TABLE>

The current  product  development  status of our technology may be summarized as
follows:
<TABLE>
<CAPTION>

Technology                   Product                    Key Applications                 Development Stage
---------------------------- -------------------------- -------------------------------- --------------------
<S>                          <C>                        <C>                              <C>
1.  Computer  input device   Gaming input mouse         Computer
                             Windows 3D mouse  movement input where 4 axis of            5
                                                        are required
---------------------------- -------------------------- -------------------------------- --------------------
2. Blood analyte             Blood glucose monitor      Non-invasive, accurate and       1
measurement (non-invasive)   Blood oxygen monitor       safe monitor of presence and     1
                             Blood oestrogen monitor    concentration                    1
                             Misc. blood analyte
                             monitor                                                     1

---------------------------- -------------------------- -------------------------------- --------------------
3. BAM  (minimally invasive) Point  of  care  blood
                             analysis                   Minimally -  invasive,  safe,    3
                                                        accurate monitoring of
                                                        clinical condition
---------------------------- -------------------------- -------------------------------- --------------------
4. Medical imaging           Professional medical       Non-invasive, safe, high -       3
                             scanner                    quality alternative to 2D X-
                             Portable imaging device    ray scanning
                             Dental imaging device
---------------------------- -------------------------- -------------------------------- --------------------
5. Bone densitometry         Professional medical       Non-invasive and safe            1
                             densitometer               measurement  of onset and
                             OTC variant for home use   status of osteoporosis
                             (esp. for female use)
---------------------------- -------------------------- -------------------------------- --------------------
6.  Internal surgery         Instrument position        Safe  and accurate 3D
                             monitor                    positioning of instruments

---------------------------- -------------------------- -------------------------------- --------------------
7. Fetal heart rate monitor  Fetal heart monitor        Reliable at- home and            3
                                                        professional medical heart
                                                        rate monitor for unborn babies

---------------------------- -------------------------- -------------------------------- --------------------
8. Labor predictor           Labor predictor-OTC        Accurate prediction of onset     3
                             Labor predictor-           of labor from 6 weeks out
                             professional medical
---------------------------- -------------------------- -------------------------------- --------------------
</TABLE>
                                       13
<PAGE>


PRODUCT DESIGN, PROTECTION, MANUFACTURING AND PRODUCTION

We have established the following relationships to enable us to develop, produce
and protect our product  applications and technologies to create our operational
platform:

     o    Chinese  manufacturing - HET is active in manufacturing and assembling
          products  via a number of  manufacturers  in China,  particularly  Hen
          Young Manufacturing in the Don Guan province.

     o    Patent/IPR  management  - HET uses Wilson Gun McCaw and  Novagraaf  to
          construct and manage its patent process.  Patent files are held on the
          central database `Netspat'.

     o    Medius, a specialist  agency for the  patent/licensing  process in the
          biomedical  field will provide expert patent audit and  positioning of
          our ideas within patent niches.

     o    Double Helix is responsible for product  positioning through in-market
          research.

     o    Kinneir  Dufort  ("KD") and JAB Design  ("JAB")  have been  engaged to
          deliver product design and basic  engineering  from Phase I of product
          development.   KD  specializes  in  biomedical   products  and  has  a
          significant track record with blue chip companies. JAB is a specialist
          in small  electronic  device  packaging and  prototype and  production
          design and sourcing.

     o    Rosti is a  specialized  plastics and  electronics  manufacturing  and
          assembly  company which is part of the Danish AP M0ller group.  It has
          supply  contracts  with  blue  chip  companies,   including   Siemens,
          Ericsson,  Phillips, Nokia,  GlaxoSmithKline,  Johnson & Johnson, Novo
          Nordisk,  and other companies.  Through working proposals entered into
          between In Vivo and Rosti,  Rosti  provides  us with  access to a high
          quality  global  manufacturing  base  and a high  level  of  potential
          licensing partners.

REVENUE GENERATION AND COMMERCIAL OPPORTUNITIES

New Product Development
Our new product  development  focus has been driven by  specific  contracts  for
products which have a clear route to market.  Research has been prioritized by a
combination  of  feasibility  and market  opportunity  based on market  research
commissioned by us.

Applied Research
Our plan is to build a pipeline  of  products  from  applications  currently  in
development.  This will be matched to a set of commercial  partners committed to
launch  products  into global  markets.  Our  technology  yields a multitude  of
product  applications for specific medical  conditions.  Further market research
and  specialist  medical  input will  translate  these  research  programs  into
end-user specific projects.

Lateral Synergies
The nature of near-patient  digital monitoring creates a further and significant
commercial   opportunity  for  electronic  data  transfer  and  remote  clinical
diagnosis  and  intervention.  All our patent  applications  consider the use of
wireless data transmission for such use.

Corporate Growth
By making the current competitive  measuring  technologies  obsolete,  our novel
applications  facilitate  revolutionary  approaches  to the  medical  diagnostic
processes in which they are applied,  which opens opportunities for an effective
acquisition  strategy targeted at some appropriately  sized but potentially less
profitable  companies who may have  established  manufacturing  and distribution
systems.

Timing of Commercialization

                                       14
<PAGE>

The approximate potential introduction of our products is shown below. Since all
products use a similar platform  technology the exact order of introduction will
depend on the order in which we secure  development  contracts  with  commercial
partners.
<TABLE>
<CAPTION>

                                Patents   Concept     Functional   Prototypes    Clinical   Production/   Commercial
                                Held      Proven      Demo                        trials    Revenues      Partner
------------------------------- --------- ----------- ------------ ------------- ---------- ------------- ---------------
<S>                             <C>       <C>         <C>          <C>           <C>        <C>           <C>
Prothrombin blood                  Y          Y            Y            Y            Y          2005            Y
coagulation timing device
------------------------------- --------- ----------- ------------ ------------- ---------- ------------- ---------------
Fetal Heart Monitoring/            Y          Y            Y            Y            Y         2005/6           D
POLO consumer
------------------------------- --------- ----------- ------------ ------------- ---------- ------------- ---------------
Fetal Heart Monitoring/            Y          Y            Y           2004          Y         2005/6           D
POLO professional medical
------------------------------- --------- ----------- ------------ ------------- ---------- ------------- ---------------
Non-invasive   blood   glucose     Y          Y          2005          2006        2006         2007           2005
monitoring
------------------------------- --------- ----------- ------------ ------------- ---------- ------------- ---------------
R2 - MID                           Y          Y          2004          2005        2005         2006           2005
------------------------------- --------- ----------- ------------ ------------- ---------- ------------- ---------------
R3 - Other                        Y/N         N          2005          2006        2006         2007          2005/6
------------------------------- --------- ----------- ------------ ------------- ---------- ------------- ---------------
</TABLE>


Item 2. DESCRIPTION OF PROPERTY

     Our  research  and  executive  offices  are  located  at The  Green  House,
Beechwood Business Park North, Inverness,  Scotland IV2 3BL in 1,128 square feet
of leased  space under a lease with an  unaffiliated  third  party,  expiring on
April 25, 2005, and with an annual rent of approximately  $33,600.  We intend to
relocate our executive  office in the United States to Los Angeles or Boston and
options are currently being considered.


Item 3. LEGAL PROCEEDINGS

     We are not subject to any pending or threatened legal proceedings

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

     There was no matter  submitted to a vote of the Company's  security holders
during the fourth quarter of the fiscal year ended July 31, 2004.

                                     PART II

Item 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

     As of July,  2004,  our common stock is quoted on the OTC  Bulleting  Board
under  the  symbol  "IVVO.OB".  Prior to that we traded  under  the name  Sports
Information & Publishing Corporation and were quoted under the symbol "SIPC.OB".
Prior to July 14, 2004,  there was no established  trading market for our common
stock.

          Quarter Ended         High           Low
       ------------------     ---------     ---------
       October 31, 2003           --            --
       ------------------     ---------     ---------
       January 31, 2004           --            --
       ------------------     ---------     ---------
       April 30, 2004             --            --
       ------------------     ---------     ---------
       July 31, 2004            3.17          1.60
       ------------------     ---------     ---------
       October 31, 2004         3.20          1.80
       ------------------     ---------     ---------
       January 31, 2005         2.25          0.92
       ------------------     ---------     ---------


         As of February 2, 2005, we had 51,376,686 shares of common stock issued
and outstanding owned by approximately 123 holders of record. Our transfer agent
is Corporate Stock Transfer, Denver, Colorado, (303) 282-4800.

                                       15
<PAGE>


Dividend Policy
---------------

     We have not  declared  cash  dividends  on our  common  stock and we do not
anticipate paying cash dividends in the foreseeable future.

Recent Sales of Unregistered Securities
---------------------------------------

On July 30, 2004,  the security  holders of Hall Effect Medical  Products,  Inc.
consummated the  transactions  contemplated  by a share exchange  agreement (the
"Share  Exchange  Agreement"),  dated as of June 30,  2004,  by and among Sports
Information  and  Publishing  Corp.  (the  "Company"),  Michael D. Tanner,  HEMP
Trustees Limited, as the corporate trustee of the HEMP Employment Benefit Trust,
John Fuller,  Brian Cameron,  Westek Limited,  and the security  holders of Hall
Effect Medical Products,  Inc. As a result of the exchange,  Hall Effect Medical
Products,  Inc.  became our wholly owned  subsidiary  and changed its name to In
Vivo Medical Diagnostics, Inc. ("In Vivo DE").

Thereafter,  the parties to the Share Exchange  agreed to amend the terms of the
agreement  to correct  certain  information  regarding  (i) the number of shares
issued in connection with the  transactions  contemplated by the agreement,  and
(ii) the  capitalization  of the Company both before and after the  transactions
contemplated by the agreement.

Pursuant to the Share Exchange, as amended, the Company:

     o    Increased its authorized capital stock to 100,000,000 shares of common
          stock and 50,000,000 shares of preferred stock;
     o    issued  to the  former  holders  of  8,000,000  shares  of In  Vivo DE
          preferred  stock,  an aggregate of 34,343,662  shares of our 4% voting
          redeemable convertible preferred stock (the "4% Preferred Stock");
     o    issued to the former holders of shares of In Vivo DE common stock,  an
          aggregate of 38,636,453 shares of our common stock;
     o    issued 1,636,233  additional  shares of our common stock to holders of
          $467,495 of  promissory  notes,  issued by In Vivo DE's  wholly  owned
          subsidiaries,  Hall  Effect  Technologies  Ltd.  and Jopejo  Ltd.,  in
          exchange for the cancellation of such notes; and
     o    agreed to cause the resignation of all current members of our board of
          directors   and  appoint  new   directors  as  designated  by  certain
          shareholders or affiliates of In Vivo DE.

Each full share of the Company's 4% Preferred  Stock is  convertible at any time
after October 31, 2005, at the option of the holder,  into one full share of our
common  stock.  The  shares  of 4%  Preferred  Stock  vote,  together  with  our
outstanding  common stock on an "as converted"  basis, at any regular or special
meeting of our stockholders  called for the purpose of electing directors of our
company or to vote on any other  matter  requiring  shareholder  approval  under
Colorado corporate law.

As a result of the transactions and share issuances completed in connection with
the Share Exchange, the Company's capitalization is as follows:

     o    51,376,686 shares of common stock;
     o    34,343,662 shares of 4% Preferred Stock; and
     o    options to purchase 9,659,154 shares of Common Stock.

Item 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Overview

     Some  of  the   information  in  this  annual  report  under  this  caption
"Management's  Discussion  and  Analysis of Financial  Condition  and Results of
Operations" contains "forward-looking statements" that involve substantial risks
and uncertainties.  You can identify these statements by  forward-looking  words
such as "may," "expect," "anticipate,"  "believe," "estimate" and "continue," or
similar words.  You should read  statements  that contain these words  carefully
because they:

                                       16
<PAGE>

     o    Discuss our future expectations;
     o    Contain  projections  of our future  results of  operations  or of our
          financial condition; and
     o    State other "forward-looking" information.

     We believe it is important to communicate our expectations.  However, there
may be events in the future that we are not able to  accurately  predict or over
which we have no control.  Our actual  results and the timing of certain  events
could  differ  materially  from  those  anticipated  in  these   forward-looking
statements as a result of certain factors, including those set forth under "Risk
Factors" and "Description of Business". and elsewhere in this prospectus.

Liquidity And Capital Resources
-------------------------------


Financing Needs
---------------


Financings
----------


Results Of Operations
---------------------

Off Balance Sheet Arrangements
------------------------------

We do not have any off balance sheet  arrangements  as of July 31, 2004 or as of
the date of this report.

Significant Accounting Policies
-------------------------------


RISK FACTORS

Before  you  invest  in our  Company,  you  should  be aware of  various  risks,
including  those  described  below.  You should  carefully  consider  these risk
factors, together with all of the other information included in this prospectus,
before you decide whether to purchase shares of our common stock.  The risks set
out below may not be  exhaustive.  Keep these risk factors in mind when you read
"forward-looking"  statements elsewhere in this prospectus. These are statements
that relate to our expectations  for future events and time periods.  Generally,
the words  "anticipate,"  "believe,"  "expect," "intend" and similar expressions
identify forward-looking  statements.  Forward-looking  statements involve risks
and   uncertainties,   and  future   events  and   circumstances   could  differ
significantly from those anticipated in the forward-looking statements.

We are a  development  stage  company  and may be unable to  develop  or license
commercially feasible products.

We are a  development  stage  company  and have not  generated  any  significant
revenues  from  commercial  operations.  Although we have  developed  commercial
models of  Evomouse  and  functional  demonstration  models for our fetal  heart
monitor  and  prothrombin   blood-clotting   monitor,   we  have  not,  as  yet,
manufactured any fully-engineered prototype models for commercial demonstration.
We may not be able to produce effectively  functioning prototype models or final
products in commercial  quantities at acceptable costs, or, if produced,  we may
not be able to successfully market the products, directly or in conjunction with
third parties.

We expect our operating losses and accumulated deficit to continue.

We  have  incurred  operating  losses  each  year  since  inception  and  had an
accumulated deficit as of July 31, 2004, of approximately $2.7 million. Inasmuch
as we expect to have a high level of  operating  expenses  and will  continue to
make  considerable  expenditures in connection with our research and development
activities,  we anticipate  that such losses will  continue  until such time, if
ever, as we are able to generate  sufficient revenues to support our operations.
We may  not  achieve  or  sustain  sufficient  revenues  to  achieve  profitable
operations.

                                       17
<PAGE>


Our future  revenues are dependent on  establishing  licenses,  joint venture or
distribution arrangements with established companies.

Our ability to generate revenue from the sale of our products will be dependent,
among other things,  upon our ability to enter into  licenses,  joint venture or
distribution  arrangements  with established  businesses with existing sales and
marketing  infrastructures.  Although we have entered into  agreements  with the
Unipath  division of Inverness  Medical  Innovations,  and are negotiating  with
several  other  companies,   we  have  only  generated  revenues  $1,420,830  of
development and grant funding from these  companies and government  initiatives.
There can be no assurance  that we will be able to generate  revenues or profits
under any such agreements,  if and when formalized. In addition, given our early
stage of development  and limited capital  resources,  the terms demanded by any
prospective  licensee or joint  venture  partner may not be  attractive to us or
otherwise enable us to achieve our strategic objectives and goals.

Our products may not gain market acceptance.

The products we are currently  developing utilize new technologies.  As with any
new technologies,  in order for us to be successful,  our technologies must gain
market  acceptance.  Since we  design  our  products  to  exploit  markets  that
presently  utilize or are  serviced by  products  from  competing  technologies,
meaningful commercial markets may not develop for our products.

We have Limited manufacturing or marketing experience.

Achieving  marketing  acceptance for our technologies and proposed products will
require  substantial  marketing  efforts and expenditure of significant funds to
educate key original  equipment  manufacturers,  or OEMs, as to the  distinctive
characteristics  and anticipated  benefits of our products and technologies.  We
currently  have  limited  manufacturing  and  marketing  experience  and limited
financial,  personnel and other  resources to undertake the extensive  marketing
activities that are necessary to market our products and technologies.

The development of our products and technology is uncertain.

Our  development  efforts  are  subject to  unanticipated  delays,  expenses  or
technical or other problems, as well as the possible insufficiency of funding to
complete development. Our success will depend upon our products and technologies
meeting  acceptable  cost  and  performance  criteria,  and  upon  their  timely
introduction into the marketplace. All of our proposed products and technologies
may  never  be  successfully  developed,  and  even if  developed,  they may not
satisfactorily perform the functions for which they are designed.  Additionally,
these  products  may  not  meet  applicable  price  or  performance  objectives.
Unanticipated  technical  or other  problems  may accrue  which would  result in
increased costs or material delays in their development or commercialization.

Our products may contain defects.

Our  products  may contain  deficiencies  that  become  apparent  subsequent  to
widespread commercial use. Remedying such errors could delay our plans and cause
us to incur  additional  costs which would have a material adverse effect on our
financial position.

We depend on third party product design changes.

Our success  will depend upon our ability to make our products  compatible  with
the  products  of  third-party  manufacturers.  In  addition,  we will depend on
potential  customers  redesigning or otherwise modifying their products to fully
utilize our  products  and  technologies.  Our failure to make our  products and
technology compatible with products of third-party  manufacturers or the failure
of potential  customers to make  necessary  modifications  to or redesign  their
products to accommodate our products could have a material adverse effect on our
ability to sell or license our technologies and products.

                                       18
<PAGE>

We are operating in a highly competitive market.

The  development  and  marketing  of medical  products  and devices is extremely
competitive.  In many  cases  we will  compete  with  entrenched  multi-national
corporations,  such as Johnson &  Johnson,  Roche and  others,  all of whom have
similar products already being  manufactured  and sold.  Competitors  range from
development stage companies to major domestic and international companies,  most
of which have substantially  greater financial,  technical,  marketing and human
resource capabilities than we have, as well as established positions in markets,
name brand recognition, and established ties with OEMs. These or other companies
may succeed in developing  products or technologies that are more effective than
those being  developed by us or which would  render our products and  technology
obsolete or non-competitive in the marketplace.

Our patents and proprietary rights are difficult to protect.

Our  ability  to  compete  effectively  will  depend in part on our  ability  to
maintain the proprietary  nature of our technology and  manufacturing  processes
through a  combination  of patent and trade  secret  protection,  non-disclosure
agreements and other  arrangements.  We have  completed a substantial  amount of
invention  disclosure  documentation.  Thus far, we have two patents granted and
further  eight  pending,  and we intend to continue to file patent  applications
covering our products  when and where  appropriate.  Such filings will be costly
and time  consuming.  Patents  may not issue  from  applications  and any issued
patents may not provide adequate  protection for our products or processes.  Our
competitors  may  independently   patent  technologies  that  are  substantially
equivalent or superior to our technology. In addition, competitors' products may
infringe upon our patents and the cost of protecting our rights relative to such
infringement  may be  prohibitive  thereby  undermining  our  ability to protect
products effectively.

Foreign countries may not provide adequate patent protection.

Patent  applications  filed in certain  foreign  countries  are subject to laws,
rules and procedures which differ from those of the United States and the United
Kingdom.  Foreign  patent  applications  filed by us related to United States or
United Kingdom patents may not be issued.  Furthermore,  some foreign  countries
provide  significantly  less  patent  protection  than the United  States or the
United  Kingdom.   We  could  incur   substantial   costs  in  defending  patent
infringement  suits  brought by others and in  prosecuting  patent  infringement
suits against third party infringers.

We depend on our key personnel.

The  development  and  marketing of our  technology  will be dependent  upon the
skills and  efforts of a small  group of  management  and  technical  personnel.
Losing the services of any of our key  personnel  could have a material  adverse
effect  on our  operations.  Furthermore,  recruiting  and  retaining  qualified
technical personnel to perform research,  development and technical support work
in the future will be critical to our success. We may not be able to continue to
recruit and retain skilled and experienced personnel.

We will need significant additional capital, which we may be unable to obtain.

Our capital  requirements  in connection  with our  development  activities  and
transition  to  commercial   operations  have  been  and  will  continue  to  be
significant.  We have depended  upon the proceeds of sales of our  securities to
private  investors to cover our operating  losses.  From inception  through July
2004,  we raised  capital of  approximately  $3.3  million*  through the sale of
common shares,  notes and grant funding. We will require substantial  additional
funds to continue  research,  development  and testing of our  technologies  and
products,   to  obtain   intellectual   property   protection  relating  to  our
technologies  when appropriate,  and to manufacture and market our products.  We
anticipate  that the funds being raised by this Offering will only be sufficient
to fund our  operations  for the next 24  months  and,  thereafter  if we do not
generate  adequate cash flow from operations and licensing we will need to raise
additional funds.

                                       19
<PAGE>

We may not be able to manage growth and expansion effectively.

Rapid  growth  of  our  business  may   significantly   strain  our  management,
operational  and technical  resources.  If we are successful in obtaining  rapid
market  penetration  of our  products,  we will be required to  manufacture  and
deliver large volumes of quality  products to our customers on a timely basis at
a  reasonable  cost.  Our  strategy is that we will NOT  manufacture  but create
partnerships with manufacturers.  This could potentially strain our operational,
management and financial systems and controls.

Our  confidentiality  agreements  may  not  adequately  protect  our  unpatented
proprietary information.

We rely on  confidentiality  agreements  to protect our  unpatented  proprietary
information,   know-how  and  trade   secrets.   Our   competitors   may  either
independently  develop the same or similar  information  or obtain access to our
proprietary information. In addition, we may not prevail if we assert challenges
to  intellectual  property  rights  against third parties.  In this regard,  our
employees are required to enter into agreements  providing for  confidentiality,
the  assignment  of rights to inventions  made by them while  employed by us, as
well as for  non-competition and  non-solicitation  during their employment term
and one year  thereafter.  Our  employees may not comply with the terms of these
agreements.

We may become subject to risks inherent in  international  operations  including
currency exchange rate fluctuations and tariff regulations.

To the extent we in the future  sell or license  our  products  or  technologies
outside  the United  Kingdom,  we will be subject to the risks  associated  with
fluctuations  in  currency  exchange  rates.  We may also be  subject  to tariff
regulations and requirements for export licenses,  particularly  with respect to
the export of certain technologies (which licenses may on occasion be delayed or
difficult to obtain),  unexpected  changes in  regulatory  requirements,  longer
accounts  receivable   requirements,   difficulties  in  managing  international
operations,  potentially adverse tax consequences,  restrictions on repatriation
of earnings and the burdens of complying with a wide variety of foreign laws.

RISKS RELATED TO OUR SEURITIES

We do not expect to pay dividends.

We have not paid any dividends to date. We do not currently intend to declare or
pay any dividends on our common stock in the foreseeable  future.  Earnings,  if
any, are expected to be retained to finance and expand our business.

If we fail to remain current on our reporting requirements,  we could be removed
from the OTC Bulletin Board which would limit the ability of  broker-dealers  to
sell our securities and the ability of stockholders to sell their  securities in
the secondary market.

     Companies  trading on the OTC Bulletin Board, such as us, must be reporting
issuers under Section 12 of the Securities Exchange Act of 1934, as amended, and
must be current in their reports  under  Section 13, in order to maintain  price
quotation  privileges on the OTC Bulletin Board. If we fail to remain current on
our reporting requirements,  we could be removed from the OTC Bulletin Board. As
a result,  the market liquidity for our securities  could be severely  adversely
affected by limiting the ability of  broker-dealers  to sell our  securities and
the ability of stockholders to sell their securities in the secondary market.

No active market  presently  exists for our  securities and we cannot assure you
that such a market will ever develop.

There is currently no active  trading  market for our  securities  quoted on the
over-the-counter  pink  sheet  market.  Consequently,  holders  of shares of our
common stock may not be able to trade in our shares or otherwise liquidate their
investment in us in the event of an emergency or at any time, and such shares of
common stock will not be readily  acceptable as collateral for loans.  We cannot
assure you when and if a trading  market in our shares will be  established,  or
whether such  market,  if  established,  will be  sufficiently  liquid to enable
holders of shares of our common stock to liquidate their investment in us.

                                       20
<PAGE>

A substantial  number of shares of our common stock are issuable upon conversion
of  outstanding  convertible  securities,   which  will  dilute  the  percentage
ownership equity of holders of shares of common stock.

We have issued and outstanding a total of  approximately  54.8 million shares of
our common stock.  In addition,  an aggregate of another 34.3 million  shares of
common stock are subject to issuance upon conversion or our outstanding Series A
preferred stock.  The issuance of these  additional  shares of common stock will
dilute the percentage ownership equity of holders of shares of common stock.

Our  common  stock is  subject  to the  "Penny  Stock"  rules of the SEC and the
trading market in our  securities is limited,  which makes  transactions  in our
stock cumbersome and may reduce the value of an investment in our stock.

     The  Securities  and  Exchange  Commission  has  adopted  Rule 15g-9  which
establishes the definition of a "penny stock," for the purposes  relevant to us,
as any equity  security  that has a market price of less than $5.00 per share or
with an  exercise  price of less  than  $5.00  per  share,  subject  to  certain
exceptions.  For any  transaction  involving a penny stock,  unless exempt,  the
rules require:

     o    that a broker or dealer approve a person's account for transactions in
          penny stocks; and
     o    the broker or dealer receive from the investor a written  agreement to
          the transaction,  setting forth the identity and quantity of the penny
          stock to be purchased.

     In order to approve a person's  account for  transactions  in penny stocks,
the broker or dealer must:

     o    obtain financial  information and investment  experience objectives of
          the person; and
     o    make a reasonable  determination that the transactions in penny stocks
          are suitable for that person and the person has  sufficient  knowledge
          and  experience in financial  matters to be capable of evaluating  the
          risks of transactions in penny stocks.

     The broker or dealer must also deliver, prior to any transaction in a penny
stock, a disclosure  schedule prescribed by the Commission relating to the penny
stock market, which, in highlight form:

     o    sets  forth  the  basis  on  which  the  broker  or  dealer  made  the
          suitability determination; and
     o    that the broker or dealer  received a signed,  written  agreement from
          the investor prior to the transaction.

     Generally,   brokers  may  be  less  willing  to  execute  transactions  in
securities  subject to the "penny stock" rules.  This may make it more difficult
for  investors  to dispose of our common stock and cause a decline in the market
value of our stock.

     Disclosure also has to be made about the risks of investing in penny stocks
in both public  offerings  and in  secondary  trading and about the  commissions
payable to both the  broker-dealer  and the registered  representative,  current
quotations  for the  securities  and the rights  and  remedies  available  to an
investor  in  cases  of fraud in  penny  stock  transactions.  Finally,  monthly
statements  have to be sent  disclosing  recent price  information for the penny
stock held in the account and information on the limited market in penny stocks.


* Our trading  currency is UK(pound).  The figures shown are in US$ converted at
the rate of $1.60 to (pound)1.  Exchange  rates may fluctuate thus affecting our
revenues, profitability and cash flows when viewed in US terms.

Item 7. FINANCIAL STATEMENTS

     All  financial  information  required  by  this  Item  is  attached  hereto
beginning on Page F-1.

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

     Not applicable.

                                       21
<PAGE>

Item 8a. CONTROLS AND PROCEDURES

     As of the  end of the  period  covered  by this  report,  we  conducted  an
evaluation,  under  the  supervision  and with the  participation  of our  chief
executive officer and chief financial  officer,  of our disclosure  controls and
procedures  (as defined in Rule  13a-15(e)  and Rule  15d-15(e)  of the Exchange
Act).  Based  upon  this  evaluation,  our  chief  executive  officer  and chief
financial officer concluded that the our disclosure  controls and procedures are
effective  to ensure  that  information  required to be  disclosed  by us in the
reports that we file or submit  under the  Exchange Act is recorded,  processed,
summarized and reported,  within the time periods  specified in the Commission's
rules and forms.  There was no significant change in our internal controls or in
other factors that could  significantly  affect these controls subsequent to the
date of the evaluation.


                                    PART III

Item 9. DIRECTORS AND EXECUTIVE OFFICERS

     The members of our board of directors and our executive officers,  together
with their  respective ages and certain  biographical  information are set forth
below. Our directors receive no compensation for their services as board members
but are  reimbursed for expenses  incurred by them in connection  with attending
board  meetings.  All directors hold office until the next annual meeting of our
stockholders  and until their  successors  have been duly elected and qualified.
Our  executive  officers  are  elected  by,  and  serve at the  designation  and
appointment of, the board of directors.  There are no family relationships among
any of our directors or executive officers.

     Name                Age     Position
     ------------------- ------- -----------------------------------------------
     John Fuller         43      President, Chief Executive Officer and Director
     Brian Cameron       45      Chief Operating Officer and Director
     Graham Cooper       54      Chairman of the Board
     Bernard Turner      47      Chief Financial officer and Director
     David Barnes        62      Director

The  following  is a brief  account of the  business  experience  of each of our
directors and executive officers during the past five years or more.

John Fuller has been our President, Chief Executive Officer and a director since
July 2001. Mr. Fuller has a considerable  track record in bringing  conventional
and new technology  products to market in class leading product lead times.  Mr.
Fuller  started  HET,  as its Chief  Executive  Officer,  in July 1999,  and was
responsible  for the  acquisition  of Jepejo in December  2001,  and  subsequent
growth of the  company.  From  September  1997 to November  1999,  was  Managing
Director of Highland  Distillers,  located in Scotland,  a $400 million  revenue
public company in the premium spirits  sector.  From June 1993 to August 1997 he
served as Executive Vice President of Mayflower Corporation, located in Detroit,
Michigan, a multinational company in the motor industry. Mr. Fuller received his
B.S. in Mechanical  Engineering  from  Southampton  University  and a Masters of
Business Administration from Warwick University.

Brian Cameron has been our Chief  Operating  Officer since  December  2003.  Mr.
Cameron joined HET and Jopejo,  as a consultant in March 2001, prior to which he
set up his own  consulting  business with customers such as BMW Gmbh and Snap On
Tools.  Mr.  Cameron  spent  two  and a half  years  on the  board  of  Highland
Distillers  from March 1998 to July 2000. From November 1995 to February 1998 he
was a managing  director of BMH Ltd., a subsidiary  of  BMW-Rover,  where he was
engaged in licensing and branding,  supplier and customer  partnership  building
and change  management.  From August 1992 to November 1995 Mr. Cameron served as
logistics  director of Rover Group, a $3.5 billion revenue  automotive  company.
Mr., Cameron is a Fellow of the Chartered Management Institute with a background
in successful turn-around and business growth.

Graham  Cooper has been our Chairman of the Board since  January  2000.  For the
past five years, Mr. Cooper Graham has been the principal stockholder of Westek,
a computer  trading company located in Manchester,  England,  with a turnover of
approximately $192 million.  Westek has been the primary financing source to HET
and is a business "angel" to other technology development stage companies.

                                       22
<PAGE>


Bernard Turner has been our Chief Financial Officer and a director since January
2000.  Mr.  Turner has served  since 1996 as the  Director  of Finance and Chief
Financial Officer of Westek Limited, a computer distributor and reseller located
in Warrington, England. Mr. Turner also serves as Chief Financial Officer of HET
and  Jopejo.  Mr.  Turner has over 25 years of business  accounting  experience,
including implementation of management information systems and controls.

David M. Barnes has been a director of the Company since August 2004. Mr. Barnes
has served as Chief  Financial  Officer  of  American  United  Global,  Inc.,  a
publicly traded company, since May 15, 1996, and was a director from November 8,
1996 through June 17, 2003 and was  reappointed  to the board in December  2003.
Mr.  Barnes is also  presently  a member of the  Advisory  Board of  Interactive
Imagination,  Inc., a privately-held  video game developer based in Seattle, WA.
Mr.  Barnes has over 20 years of  experience  as a senior  financial  officer of
United States publicly traded companies.

Audit Committee

         We do not have a separately  designated standing audit committee,  or a
committee  performing similar functions.  We also do not have an audit committee
financial expert (as defined in Item 401 of Regulation S-B).

Code of Ethics

         We have adopted our Code of Ethics and Business  Conduct for  Officers,
Directors  and  Employees  that applies to all of our  officers,  directors  and
employees. The Code of Ethics is filed herewith as Exhibit 14.1

Compliance with Section 16(a) of the Exchange Act:

         Section  16(a) of the  Securities  Exchange  Act of 1934  requires  our
directors and executive  officers and persons who beneficially own more than ten
percent  of a  registered  class of our equity  securities  to file with the SEC
initial  reports of ownership and reports of change in ownership of common stock
and other equity securities of our Company. Officers, directors and greater than
ten percent  stockholders  are  required by SEC  regulations  to furnish us with
copies of all  Section  16(a)  forms they file.  To our  knowledge,  none of our
officers and directors and 10%  shareholders  have filed, on a timely basis, the
identified reports required by Section 16(a) of the Exchange Act during the most
recent fiscal year

Item 10. EXECUTIVE COMPENSATION

         The  following  table  sets  forth  information  concerning  the  total
compensation  that we have  paid or that has  accrued  on  behalf  of our  Chief
Executive  Officer  and  President  and other  executive  officers  with  annual
compensation exceeding $100,000 during fiscal 2004, 2003 and 2002.

<TABLE>
<CAPTION>

                                     Executive Compensation Table
                                                                                            Long-Term
                                                                                           Compensation
                                                                             -----------------------------------------
                                               Annual Compensation                     Awards               Payouts
                                       ------------------------------------- ---------------------------- ------------

                                                                  Other                    Securities
                                                                  Annual     Restricted   Under-lying      All        Other
             Name and                                            Compen-       Stock        Options/       LTIP       Compen-
        Principal Position      Year   Salary ($)  Bonus ($)    sation ($)    Award(s) ($)    SARs (#)    Payouts ($)  sation ($)
----------------------------- -------- ----------- ----------- ------------- --------------- ------------ ------------ -----------
<S>                           <C>      <C>         <C>         <C>           <C>             <C>          <C>          <C>
John Fuller,                  2004     235,881       -0-         -0-             -0-        4,829,577        -0-         -0-
     Chief Executive Officer  2003     204,732       -0-         -0-             -0-           -0-           -0-         -0-
                              2002     183,842       -0-         -0-             -0-           -0-           -0-         -0-
Brain Cameron,                2004     160,342       -0-         -0-             -0-        4,829,577        -0-         -0-
     Chief Operating Officer  2003       -0-         -0-         -0-             -0-           -0-           -0-         -0-
                              2002       -0-         -0-         -0-             -0-           -0-           -0-         -0-
</TABLE>

                                       23
<PAGE>


OPTION/SAR GRANTS IN THE LAST FISCAL YEAR

None.

AGGREGATED OPTION/SAR EXERCISES IN LAST FISCAL YEAR AND FY-END OPTION/SAR VALUES

None.

Employment Agreements

     John Fuller. Pursuant to the terms of an Employment Agreement dated May 26,
2004, we appointed Mr. Fuller as our Chief Executive  Officer until November 30,
2006, continuing for successive one-year terms unless otherwise  terminated.  We
agreed  to  pay  Mr.  Fuller   (pound)130,000  for  the  first  six  months  and
(pound)150,000  per year  thereafter.  Mr. Fuller shall be eligible to receive a
maximum of 4,829,577  options,  one-third of which is  exercisable  on the first
anniversary of the agreement.  He is also eligible to receive a cash-control and
profit performance-based bonus ranging from 10% to 100% of his base salary.

     Brain Cameron.  Pursuant to the terms of an Employment  Agreement dated May
26, 2004, we appointed Mr. Fuller as our Chief Operating Officer for a period of
three  years,   continuing  for  successive   one-year  terms  unless  otherwise
terminated. We agreed to pay Mr. Cameron (pound)130,000 for the first six months
and (pound)150,000 per year thereafter. Mr. Cameron shall be eligible to receive
a maximum of 4,829,577  options,  one-third of which is exercisable on the first
anniversary of the agreement.  He is also eligible to receive a cash-control and
profit performance-based bonus ranging from 10% to 100% of his base salary.


Item 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

     The  following  table  sets  forth  information  regarding  the  beneficial
ownership of our common stock as of February 2, 2005.  The  information  in this
table provides the ownership information for:

     o    each person known by us to be the beneficial  owner of more than 5% of
          our capital stock;
     o    each of our directors;
     o    each of our executive officers; and
     o    our executive officers and directors as a group.

     The  percentages in the table have been calculated on the basis of treating
as  outstanding  for a  particular  person,  all  shares  of  our  common  stock
outstanding  on February 2, 2005 and all shares of our common stock  issuable to
that  person in the  event of the  exercise  of  outstanding  options  and other
derivative  securities owned by that person which are exercisable within 60 days
of February 2, 2005.  Presently,  there are no options or derivative  securities
outstanding.  Percentage  ownership  gives pro forma effect to the conversion of
all  34,343,661  outstanding  shares of 4%  preferred  stock into common  stock.
Except as  otherwise  indicated,  the persons  listed below have sole voting and
investment  power with  respect to all shares of our common stock owned by them,
except to the extent such power may be shared with a spouse.

<TABLE>
<CAPTION>
      Name of Beneficial Owner              Number of Shares            Class of Stock       Percentage Outstanding
                                           Beneficially Owned
------------------------------------- ------------------------------ ---------------------- --------------------------
<S>                                   <C>                            <C>                    <C>
Abacus Trust Company Limited                   19,328,381               Preferred Stock               22.5%
Unit 2, Taurus Park
Europa Boulevard
Warrington WA5 7YT
England
------------------------------------- ------------------------------ ---------------------- --------------------------
Westek Limited (1)                             19,328,381               Preferred Stock               22.5%
Unit 2, Taurus Park
Europa Boulevard
Warrington WA5 7YT
England
------------------------------------- ------------------------------ ---------------------- --------------------------
</TABLE>

                                       24
<PAGE>

<TABLE>
<CAPTION>
      Name of Beneficial Owner              Number of Shares            Class of Stock       Percentage Outstanding
                                           Beneficially Owned
------------------------------------- ------------------------------ ---------------------- --------------------------
<S>                                   <C>                            <C>                    <C>
Rodney Philip Jackson                           6,392,695               Preferred Stock               7.5%
The Green House
Beechwood Business Park North
Inverness, Scotland IV2 3BL
------------------------------------- ------------------------------ ---------------------- --------------------------
HEMP Trustees Limited                          12,879,073                Common Stock                 15.0%
10 Foster Lane
London, England
EC2V 6HR
------------------------------------- ------------------------------ ---------------------- --------------------------
Rubin Family Irrevocable Stock                  4,674,541                Common Stock                 5.5%
Trust (2)
25 Highland Boulevard
Dix Hills, New York 11730
------------------------------------- ------------------------------ ---------------------- --------------------------
John Fuller (3)                                 6,537,486                Common Stock                 7.6%
Easter Shian, Glen Quaich
Amulree, Perthshire
PH8 0DB
Scotland
------------------------------------- ------------------------------ ---------------------- --------------------------
Brian Cameron (4)                               6,513,336                Common Stock                 7.6%
Campbell Cairns, Craigellachie
Aberlour, Banffshire
Scotland
------------------------------------- ------------------------------ ---------------------- --------------------------
Bernard Turner                                      0                    Common Stock                   *
The Manor House
Field Lane,
Appleton,   Warrington,    Cheshire,
United Kingdom
WA4 5JR
------------------------------------- ------------------------------ ---------------------- --------------------------
Graham Cooper                                       0                    Common Stock                   *
Rock Cottage
Finsthwaite
Cumbria
United Kingdom
LA12 8BH
------------------------------------- ------------------------------ ---------------------- --------------------------
David Barnes                                     200,000                 Common Stock                   *
108 Village Square #327
Somers, NY 10589

------------------------------------- ------------------------------ ---------------------- --------------------------
All directors and executive                    13,250,822                                             15.5%
officers as a group (5 persons)
------------------------------------- ------------------------------ ---------------------- --------------------------
</TABLE>

___________

* less than 1%
___________

(1) Consists of shares of 4% voting  preferred  stock,  convertible  on or after
October 31, 2005 into  19,328,381  shares of common stock.  Abacus Trust Company
Limited  is acting as trustee  for the Westek  Limited  Employee  Trust.  Graham
Cooper,  Chairman of our Board of Directors,  is a principal  beneficiary of the
Westek Limited Employee Trust, owning a majority of its shares.

(2) Excludes an  aggregate  of 2,785,310  shares of common stock owned by Andrew
Rubin,  Lynda  Rubin and Lisa Diaz,  the  children of Robert M. Rubin and by the
grandchild of Robert M. Rubin, the settlor of the Rubin Family Irrevocable Stock
Trust. Mr. Rubin disclaims  beneficial interest in the shares owned by the Rubin
Family Irrevocable Stock Trust or by his children and grandchild.

(3) Consists of (i) 6,439,437  shares held by the Hall Effect  Medical  Products
Employee  Benefit Trust as to which Mr.  Fuller holds  options to purchase,  and
(ii) 98,050 shares issued to Mr. Fuller in  consideration of his cancellation of
certain obligations owed to him by HET and Jopejo.

                                       25
<PAGE>

(4) Consists of (i) 6,439,436  shares held by the Hall Effect  Medical  Products
Employee  Benefit Trust as to which Mr.  Cameron holds options to purchase,  and
(ii) 73,899 shares issued to Mr. Cameron in consideration of his cancellation of
certain obligations owed to him by HET and Jopejo.

Item 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

In Vivo DE was formed in 2003 to  acquire  the  capital  stock of HET and Jopejo
from its  shareholders.  In Vivo DE's  founders,  including  Robert M. Rubin and
others (the "Founding  Shareholders")  received  6,000,000  shares of our common
stock in connection with its initial formation and capitalization.

In connection  with a share purchase  agreement with the former  stockholders of
HET and Jopejo,  such  stockholders,  including  Abacus  Trust  Company,  in its
capacity as trustee of the Westek Limited Employees Trust, received an aggregate
of 8,000,000  shares of In Vivo Series A Preferred  Stock, and the HEMP Employee
Benefit Trust received an additional  3,000,000  shares of In Vivo common stock.
Graham Cooper,  our Chairman of the Board, is a principal  stockholder of Westek
Limited, an affiliate of the Westek Limited Employees Trust, and John Fuller and
Brian  Cameron,  our  Chief  Executive  Officer  and  Chief  Operating  Officer,
respectively,  each owned a 50% beneficial interest in options to purchase,  for
nominal consideration, the 3,000,000 shares of In Vivo DE common stock issued to
the HEMP Employee Benefit Trust.

As a result of the share exchange  agreement with us, the Founding  Shareholders
received an aggregate of  25,757,747  shares of our common  stock;  the original
shareholders  of HET and Jopejo  received  34,343,662  shares of our 4% Series A
convertible  redeemable  voting  preferred  stock, and the HEMP Employee Benefit
Trust,  on behalf of Messrs.  Fuller  and  Cameron,  received  an  aggregate  of
12,878,873 shares of our common stock.

We issued 1,636,233 additional shares of our common stock to holders of $467,495
of promissory notes issued by In Vivo DE's wholly owned subsidiaries Hall Effect
Technologies  Ltd.  and Jopejo  Ltd. in exchange  for the  cancellation  of such
notes;  which notes were originally  convertible  into 750,000 shares of In Vivo
common stock.

In connection with the transactions  contemplated by the original share purchase
agreement  with the former  shareholders  of HET and Jopejo,  such  shareholders
received an option from Mr. Rubin and the other founding stockholders of In Vivo
DE to repurchase,  for $.01 per share, all or a pro-rata portion of their shares
of common  stock of our company in the event that our company does not raise for
the benefit of In Vivo DE and its  subsidiaries,  in  addition  to the  $500,000
previously  provided,  a  minimum  of  $2.5  million  of  additional  equity  or
equity-type  financing by December 31, 2004.  The number of our shares that will
be subject to such  repurchase  option will be pro-rated in the event we receive
one or more financings of less than the $2.5 million minimum amount.

In  connection  with  the  transactions   contemplated  by  the  share  purchase
agreement,  In Vivo agreed to repay to Westek  Limited a total of  $1,800,000 in
loans  previously made to HET and Jopejo,  by issuance to Westek of a $1,800,000
non-interest  bearing note payable on September 30, 2006. Under the terms of the
note, we are obligated to:

     o    apply  56% of  all  net  proceeds  from  any  one or  more  equity  or
          equity-type financings in excess of $2,000,000 and up to $3,000,000 to
          prepay up to $560,000 of the note; and
     o    apply 25% of all net  proceeds in excess of  $3,000,000  to prepay the
          note.

Graham  Cooper,  the Chairman of the Board of our company,  is also the managing
director and principal stockholder of Westek Limited.

                                       26
<PAGE>


Item 13. EXHIBITS AND REPORTS ON FORM 8-K

     (a) Exhibits

Exhibit
Number                                  Description
--------------------------------------------------------------------------------
2.1            Share Purchase Agreement, dated as of June 30, 2004, among
               Sports  Information and Publishing Corp.,  Michael Tanner,
               HEMP  rustees Limited (as the corporate trustee of the
               HEMP Employees Benefit Trust), John Fuller, Brian Cameron,
               Westek  Limited and other holders of securities of In Vivo
               Medical Diagnostics, Inc. (as incorporated by reference to
               Form  8-K, filed with the Securities and  Exchange
               Commission on August 10, 2004).
2.2            Amendment No. 1 to Share Exchange Agreement, effective as
               of July 31, 2004, among Sports Information and Publishing
               Corp., Michael D. Tanner, HEMP Trustees Limited (as the
               corporate trustee of the HEMP Employees Benefit Trust),
               John Fuller, Brian Cameron, Westek Limited and the other
               holders of securities of In Vivo Medical Diagnostics, Inc.
               (formerly Hall Effect Medical Products) (as incorporated
               by reference to Form 8-K/A, filed with the Securities and
               Exchange Commission on February 3, 2005).
3.1            Articles of Incorporation (as incorporated by reference to
               Form SB-2, filed with the Securities and Exchange
               Commission on January 24, 2002).
3.2            Articles of Amendment of Articles of Incorporation, dated as of
               July 22, 2004
3.3            Articles of Amendment of Articles of Incorporation, dated as of
               September 20, 2004
3.4            By-Laws (as incorporated by reference to From SB-2, filed
               with the Securities and Exchange
               Commission on January 24, 2002).
10.1           Employment Agreement among Hall Effect Technologies Limited, a
               company registered in England,
               Jonathan Andrew Fuller and Hall Effect Medical Products Inc., a
               Delaware corporation.
10.2           Employment Agreement among Hall Effect Technologies Limited, a
               company registered in England,
               Brian Cameron and Hall Effect Medical Products Inc., a Delaware
               corporation.
14.1           Code of Ethics and Business Conduct for Officers, Directors and
               Employees.
21             List of Subsidiaries
31.1           Certification by John Fuller, President and Chief Executive
               Officer, pursuant to Section 302 of the Sarbanes-Oxley Act
               of 2002.
31.2           Certification by Bernard Turner, Chief Financial Officer,
               pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1           Certification by John Fuller, President and Chief Executive
               Officer, pursuant to Section 906 of the Sarbanes-Oxley Act
               of 2002.
32.2           Certification by Bernard Turner, Chief Financial Officer,
               pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

     (b) Reports on Form 8-K

On July 14, 2004, we filed a Form 8-K under Item 7. In the Form 8-K, we reported
that the Company agreed to acquire all of the outstanding  shares of Hall Effect
Medical Products, Inc.


Item 14. Principal Accounting Fees and Services

Audit fees
----------

The aggregate fees billed for professional  services rendered by our independent
auditors  for the audit of our  financial  statements,  for the  reviews  of the
financial  statements  included in our annual  report on Form 10K, and for other
services normally provided in connection with statutory filings were $74,226 and
$-0-   for  the  years  ended  July  31,  2004  and  September  30,  2003,
respectively.

Audit-Related Fees
------------------

We incurred  fees of $0 and $0 for the years  ended July 31, 2004 and  September
30, 2003,  respectively,  for professional  services rendered by our independent
auditors that are reasonably  related to the  performance of the audit or review
of our financial statements and not included in "Audit Fees."

                                       27
<PAGE>

Tax Fees
--------

The aggregate fees billed for professional  services rendered by our independent
auditors  for tax  compliance,  tax advice,  and tax  planning  were $17,807 and
$7,000,  for the years ended July 31, 2004 and September 30, 2003.  The services
for which such fees were paid consisted of filing the 2003 tax return.

All Other Fees
--------------

We did not  incur  any fees for  other  professional  services  rendered  by our
independent  auditors  during the years  ended July 31, 2004 and  September  30,
2003.

                                   SIGNATURES

In accordance  with 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.

                                     IN VIVO MEDICAL DIAGNOSTICS INC.


Dated:   February 3, 2005            By:  /s/ John Fuller
                                          -------------------------------------
                                          John Fuller
                                          President and Chief Executive Officer



Dated:   February 3, 2005            By:  /s/ Bernard Turner
                                          -------------------------------------
                                          Bernard Turner
                                          Chief Financial Officer

                                       28
<PAGE>

PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THIS REPORT
HAS BEEN  SIGNED BY THE  FOLLOWING  PERSONS IN THE  CAPACITIES  AND ON THE DATES
INDICATED:

            NAME                      TITLE                            DATE
--------------------------------------------------------------------------------

/s/ John Fuller                 President, Chief Executive      February 3, 2005
---------------------------     Officer and  Director
John Fuller                     (Principal Executive Officer)


/s/ Brian Cameron               Chief Operating Officer         February 3, 2005
---------------------------     and Director
Brian Cameron

/s/ David Barnes                Director                        February 3, 2005
---------------------------
David Barnes

/s/ Bernard Turner              Chief Financial Officer         February 3, 2005
---------------------------     and Director
Bernard Turner

/s/ Graham Cooper               Chairman of the Board           February 3, 2005
---------------------------
Graham Cooper

                                       29
<PAGE>


                        IN VIVO MEDICAL DIAGNOSTICS, INC.
                 (formerly Sports Information Publishing Corp.)
                          (A Development Stage Company)
                          Index to Financial Statements


                                                                         Page
                                                                         ----

Report of Independent Auditors .......................................   F-2

Consolidated Balance Sheet at July 31, 2004 ..........................   F-3

Consolidated Statements of Operations for the years
     ended July 31, 2004 and 2003 and for the period
     from March 26, 1997 (Inception) through July 31, 2004 ...........   F-4

Consolidated Statements of Accumulated Other Comprehensive Loss
     for the years ended July 31, 2004 and 2003 and for the period
     from March 26, 1997 (Inception) through July 31, 2004 ...........   F-5

Statement of Changes in Shareholders' Deficit for the period from
     March 26, 1997 (Inception) through July 31, 2004 ................   F-6

Consolidated Statements of Cash Flows for the years
     ended July 31, 2004 and 2003 and for the period
     from March 26, 1997 (Inception) through July 31, 2004 ...........   F-7

Notes to Consolidated Financial Statements ...........................   F-8

<PAGE>


Cordovano and Honeck, P.C.                          Certified Public Accountants
________________________________________________________________________________
                                                               201 Steele Street
                                                                       Suite 300
                                                          Denver, Colorado 80206
                                                            (303) 329-0220 Phone
                                                              (303) 316-7493 Fax
________________________________________________________________________________


                         Report of Independent Auditors

The Board of Directors
In Vivo Medical Diagnostics, Inc.:

We have audited the accompanying consolidated balance sheets of In Vivo Medical
Diagnostics, Inc. (A Colorado corporation) (formerly Sports Information
Publishing Corp.) as of July 31, 2004, and the related consolidated statements
of operations, shareholders' deficit, and cash flows for each of the years in
the two-year period ended July 31, 2004. These consolidated financial statements
are the responsibility of the Company's management. Our responsibility is to
express an opinion on these consolidated financial statements based on our
audits.

We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the consolidated financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the consolidated
financial statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present
fairly, in all material respects, the financial position of In Vivo Medical
Diagnostics, Inc. as of July 31, 2004, and the results of their operations and
their cash flows for each of the years in the two-year period ended July 31,
2004 in conformity with accounting principles generally accepted in the United
States.

The accompanying financial statements have been prepared assuming the Company
will continue as a going concern. As discussed in Note 1 to the financial
statements, the Company has incurred losses since inception and has a net
capital deficit at July 31, 2004. These factors raise substantial doubt about
the Company's ability to continue as a going concern. Management's plans
regarding those matters are also described in Note 1. The financial statements
do not include any adjustments that might result from the outcome of this
uncertainty.


/S/ Cordovano and Honeck, P.C.
------------------------------------
Cordovano and Honeck, P.C.


Denver, Colorado
January 25, 2005

                                       F-2
<PAGE>


<TABLE>
                        IN VIVO MEDICAL DIAGNOSTICS, INC.
                 (formerly Sports Information Publishing Corp.)
                          (A Development Stage Company)
                                  Balance Sheet
<CAPTION>


                                     Assets
<S>                                                                      <C>
Current assets:
    Cash .............................................................   $    46,191
    Accounts receivable ..............................................       250,444
    Prepaid expenses and other .......................................        23,576
                                                                         -----------
                 Total current assets ................................       320,211
Property and equipment, net ..........................................        42,781
Other assets:
    Deferred offering costs ..........................................         6,000
                                                                         -----------

                                                                         $   368,992
                                                                         ===========

                      Liabilities and Shareholders' Deficit

Current liabilities:
    Accounts payable .................................................   $   451,347
    Accrued liabilities payable ......................................       148,313
    Notes payable ....................................................       137,495
    Indebtedness to related parties ..................................     1,884,287
                                                                         -----------
                 Total current liabilities ...........................     2,621,442
                                                                         -----------

Shareholders' deficit:
    Preferred stock , $.001 par value.  Authorized 50,000,000 shares,
       issued and outstanding 34,343,662 shares ......................        34,344
    Common stock , $.001 par value.  Authorized 100,000,000 shares,
       issued and outstanding 50,822,686 shares ......................        50,822
    Additional paid-in capital .......................................     1,013,786
    Accumulated other comprehensive ..................................      (644,135)
    Deficit accumulated during the development stage .................    (2,707,267)
                                                                         -----------

                 Total shareholders' deficit .........................    (2,252,450)
                                                                         -----------

                                                                         $   368,992
                                                                         ===========
</TABLE>

          See accompanying notes to consolidated financial statements

                                       F-3
<PAGE>

<TABLE>
                       IN VIVO MEDICAL DIAGNOSTICS, INC.
                 (formerly Sports Information Publishing Corp.)
                         (A Development Stage Company)
                            Statements of Operations
<CAPTION>

                                                                          March 26, 1997
                                                   Years Ended             (Inception)
                                                      July 31,               Through
                                             --------------------------      July 31,
                                                2004           2003          2004
                                             -----------    -----------    -----------
<S>                                          <C>            <C>            <C>
Net sales and gross revenues:
    Net sales ............................   $   760,516    $   286,499    $ 1,420,830
    Cost of sales ........................           823          7,904        237,517
                                             -----------    -----------    -----------

                   Gross profit ..........       759,693        278,595      1,183,313
                                             -----------    -----------    -----------

Research and development .................       561,686        383,224      1,432,764
Depreciation .............................        21,892         21,129        109,503
General and administrative ...............     1,190,086        954,861      4,778,647
                                             -----------    -----------    -----------

                                               1,773,664      1,359,214      6,320,914
                                             -----------    -----------    -----------

       Loss before other income ..........    (1,013,971)    (1,080,619)    (5,137,601)

    Gain from extinguishments of debt ....     1,748,515           --        2,430,334
                                             -----------    -----------    -----------

                   Income (loss) before
                      income taxes .......       734,544     (1,080,619)    (2,707,267)

    Income tax provision .................          --             --             --
                                             -----------    -----------    -----------

                   Net income (loss) .....   $   734,544    $(1,080,619)   $(2,707,267)
                                             ===========    ===========    ===========

Basic and diluted income (loss) per share    $      .06     $      (.09)
                                             ===========    ===========

Weighted average common shares outstanding    11,864,058     10,912,080
                                             ===========    ===========
</TABLE>

          See accompanying notes to consolidated financial statements.

                                       F-4
<PAGE>

<TABLE>
                        IN VIVO MEDICAL DIAGNOSTICS, INC.
                 (formerly Sports Information Publishing Corp.)
                          (A Development Stage Company)
         Consolidated Statements of Accumulated Other Comprehensive Loss
<CAPTION>

                                                                              March 26, 1997
                                                        Years Ended            (Inception)
                                                          July 31,               Through
                                                 --------------------------      July 31,
                                                     2004          2003           2004
                                                 -----------    -----------    -----------
<S>                                              <C>            <C>            <C>
Net income (loss) ............................   $   734,544    $(1,080,639)   $(2,707,267)

Other comprehensive (loss), net of tax:
    Foreign currency translation .............      (339,570)      (185,391)      (644,135)
                                                 -----------    -----------    -----------

                   Comprehensive income (loss)   $   394,974    $(1,266,030)   $(3,351,402)
                                                 ===========    ===========    ===========
</TABLE>

          See accompanying notes to consolidated financial statements.

                                       F-5
<PAGE>

<TABLE>
                        IN VIVO MEDICAL DIAGNOSTICS, INC.
                 (formerly Sports Information Publishing Corp.)
                          (A Development Stage Company)
           Consolidated Statement of Changes in Shareholders' Deficit
<CAPTION>

                         *** SPLIT TABLE - SEE BELOW ***


                                   Preferred Stock               Common Stock
                              -------------------------   -------------------------
                                Shares       Par Value      Shares      Par Value
                              -----------   -----------   -----------   -----------
Balance at
<S>                           <C>           <C>           <C>           <C>
    March, 26 1997 ........          --     $      --            --     $      --
    Sale of preferred stock  * 10,912,080        10,912          --            --
Foreign currency
    translation adjustment           --            --            --            --
Net loss ..................          --            --            --            --
                              -----------   -----------   -----------   -----------
Balance at
    July 31, 2001 .........    10,912,080        10,912          --            --
Foreign currency
    translation adjustment           --            --            --            --
Net loss ..................          --            --            --            --
                              -----------   -----------   -----------   -----------
Balance at
    July 31, 2002 .........    10,912,080        10,912          --            --
Foreign currency
    translation adjustment           --            --            --            --
Net loss ..................          --            --            --            --
                              -----------   -----------   -----------   -----------
Balance at
    July 31, 2003 .........    10,912,080        10,912          --            --
Issuance of common stock ..          --            --            --            --
    for services ..........          --            --      38,397,164        38,397
Issuance of common stock
    for debt ..............          --            --       1,636,233         1,636
Issuance of common stock
    for services ..........          --            --         239,289           239
Merger with SIPC ..........          --            --      10,550,000        10,550
Acquisition of subsidiaries  * 23,431,582        23,432          --            --
Foreign currency
    translation adjustment           --            --            --            --
Net income ................          --            --            --            --
                              -----------   -----------   -----------   -----------
Balance at
    July 31, 2004 .........    34,343,662   $    34,344    50,822,686   $    50,822
                              ===========   ===========   ===========   ===========
</TABLE>

<TABLE>
                        IN VIVO MEDICAL DIAGNOSTICS, INC.
                 (formerly Sports Information Publishing Corp.)
                          (A Development Stage Company)
           Consolidated Statement of Changes in Shareholders' Deficit
<CAPTION>

                         *** SPLIT TABLE - SEE ABOVE ***

                                                 Deficit
                                               Accumulated    Accumulated
                                Additional       During         Other
                                 Paid-in       Development   Comprehensive
                                 Capital          Stage        Income           Total
                                -----------    -----------    -----------    -----------
<S>                             <C>            <C>            <C>            <C>
Balance at
    March, 26 1997 ........     $      --      $      --      $      --      $      --
    Sale of preferred stock          27,175           --             --           38,087
Foreign currency
    translation adjustment             --             --           21,203         21,203
Net loss ..................            --       (1,350,829)          --       (1,350,829)
                                -----------    -----------    -----------    -----------
Balance at
    July 31, 2001 .........          27,175     (1,350,829)        21,203     (1,291,539)
Foreign currency
    translation adjustment             --             --         (140,377)      (140,377)
Net loss ..................            --       (1,007,362)          --       (1,007,362)
                                -----------    -----------    -----------    -----------
Balance at
    July 31, 2002 .........          27,175     (2,358,191)      (119,174)    (2,439,278)
Foreign currency
    translation adjustment             --             --         (185,391)      (185,391)
Net loss ..................            --       (1,080,639)          --       (1,080,639)
                                -----------    -----------    -----------    -----------
Balance at
    July 31, 2003 .........          27,175     (3,438,830)      (304,565)    (3,705,308)
Issuance of common stock ..            --             --             --             --
    for services ..........         (29,397)          --             --            9,000
Issuance of common stock
    for debt ..............         465,859           --             --          467,495
Issuance of common stock
    for services ..........         111,931           --             --          112,170
Merger with SIPC ..........         (10,688)          --             --             (138)
Acquisition of subsidiaries         448,906           --             --          472,338
Foreign currency
    translation adjustment             --             --         (339,570)      (339,570)
Net income ................            --          731,563           --          731,563
                                -----------    -----------    -----------    -----------
Balance at
    July 31, 2004 .........     $ 1,013,786    $(2,707,267)   $  (644,135)   $(2,252,450)
                                ===========    ===========    ===========    ===========
</TABLE>

   * Restated

          See accompanying notes to consolidated financial statements.

                                       F-6
<PAGE>

<TABLE>
                        IN VIVO MEDICAL DIAGNOSTICS, INC.
                 (formerly Sports Information Publishing Corp.)
                          (A Development Stage Company)
                      Consolidated Statements of Cash Flows
<CAPTION>

                                                                                       March 26, 1997
                                                                Years Ended             (Inception)
                                                                  July 31,                Through
                                                          -------------------------       July 31,
                                                             2004            2003          2004
                                                          -----------    -----------    -----------
<S>                                                       <C>            <C>            <C>
Cash flows from operating activities:
    Net income/loss ...................................   $   734,544    $(1,080,619)   $(2,707,267)
    Adjustments to reconcile net loss to net cash
       used by operating activities:
         Depreciation and amortization ................        21,754         21,129        107,170
         Changes in operating assets and liabilities:
              Receivables .............................       403,249       (192,426)      (137,482)
              Prepaid expenses and other current assets       (23,576)          --          (23,576)
              Accounts payable ........................       125,509         88,176        279,147
              Accrued expenses ........................       102,000        (86,902)       151,468
              Other ...................................        75,696        (52,519)       131,244
                                                          -----------    -----------    -----------
                    Net cash provided by (used in)
                       operating activities ...........     1,439,176     (1,303,161)    (2,199,296)
                                                          -----------    -----------    -----------

Cash flows from investing activities:
    Acquisition of equipment ..........................       (25,387)       (15,138)      (134,566)
                                                          -----------    -----------    -----------
                    Net cash used in
                       investing activities ...........       (25,387)       (15,138)      (134,566)
                                                          -----------    -----------    -----------

Cash flows from financing activities:
    Advances from affiliates ..........................    (1,388,264)     1,313,431      2,007,755
    Advances from related parties .....................         5,641           --            5,641
    Proceeds from issuance of preferred stock .........          --             --          326,155
    Proceeds from issuance of common
       stock, net of issuance costs ...................          --             --           31,776
                                                          -----------    -----------    -----------
                    Net cash provided by (used in)
                       financing activities ...........    (1,382,623)     1,313,431      2,371,327
                                                          -----------    -----------    -----------

Effect on cash from foreign currency translation ......         1,394            691          8,726

                    Net change in cash and
                       cash equivalents ...............        32,560         (4,177)        46,191

Cash and cash equivalents:
    Beginning of period ...............................        13,631         17,809           --
                                                          -----------    -----------    -----------

    End of period .....................................   $    46,191    $    13,632    $    46,191
                                                          ===========    ===========    ===========

Supplemental disclosure of cash flow information:
    Cash paid during the year for:
       Income taxes ...................................   $      --      $      --      $      --
                                                          ===========    ===========    ===========
       Interest .......................................   $      --      $      --      $      --
                                                          ===========    ===========    ===========
</TABLE>
          See accompanying notes to consolidated financial statements.

                                       F-7
<PAGE>


                        In Vivo Medical Diagnostics, Inc.
                 (Formerly Sports Information Publishing Corp.)
                          (A Development Stage Company)
                   Notes to Consolidated Financial Statements

(1)  Summary of Significant Accounting Policies

Organization and Basis of Presentation

Background

Effective July 31, 2004, Hall Effect Medical Products, Inc. ("HEMP"), a Delaware
corporation,  enteredn into a share exchange  agreement with Sports  Information
Publishing Corp. ("SIPC"),  which was incorporated under the laws of Colorado on
November  7,  2003.  Subsequently  SIPC  changed  its  name to In  Vivo  Medical
Diagnostics, Inc.

SIPC was  originally  incorporated  for the  purpose of  engaging  in the sports
prognostication. In 2002, SIPC filed a Form SB-2 registration statement with the
Securities  and  Exchange  Commission  relating  to  the  registration  of up to
1,000,000  previously  issued  shares  of  common  stock at a price of $0.15 per
share. The SEC declared the offering effective in August 2003.

Background

IVMD,  Inc.  and our  subsidiaries  ("we"  "us" or  "our" or the  Company)  is a
development-stage  enterprise. We are developing medical diagnostic products for
personal and  professional  use. Several of our products are based on technology
that  utilizes the Hall Effect,  discovered  more than a hundred  years ago, for
which we are developing practical applications.  We are also developing products
that utilize signal processing for the late-term pregnancy market.  Prior to the
merger,  we were  controlled  and  funded by a private  UK  company;  the Westek
Limited employee Trust.

Principles of consolidation

Our consolidated  financial  statements include our accounts and the accounts of
our two wholly owned foreign  subsidiaries;  IVMD UK Limited ("IVMD") and Jopejo
Limited ("Jopejo"), both UK companies. The assets and liabilities of our foreign
subsidiaries  have been  translated  at the exchange  rate in effect at July 31,
2004 with the related translation  adjustments  reported as a separate component
of shareholders'  deficit.  Operating statement accounts have been translated at
the average exchange rate in effect during the period presented. All significant
intercompany transactions have been eliminated.

Change in fiscal year-end

We elected to change our year-end  from  September 30 to July 31. The  financial
statements  presented  herein  cover the year ended  July 31,  2004 and 2003 for
Jopejo and the ten months ended July 31, 2004 and the year ended  September  30,
2003 for IVMD UK.

Basis of presentation

Our research is conducted in Inverness, Scotland through our subsidiaries;  IVMD
UK Limited and Jopejo Limited.  Development-stage  activities consist of raising
capital,  obtaining  financing,  medical  products  research and development and
administrative matters. We plan to continue to raise capital through stock sales
and debt issuances to fund our development.

Inherent   in  our   development-stage   enterprise   are   various   risks  and
uncertainties,  including our limited operating  history,  historical  operating
losses,  dependence upon strategic alliances,  and market acceptance of the Hall
Effect  technology.  Our future  success will be  dependent  upon our ability to
develop  and  provide  new  medical   devices  that  meet   customers   changing
requirements,  including  the effective  use of the Hall Effect  technology,  to
continue to enhance our current products under development, and to influence and
respond to emerging  industry  standards  and other  technological  changes on a
timely and cost-effective basis.

We have incurred  losses since  inception  and we have a net capital  deficit at
July 31, 2004. These factors,  among others,  raise  substantial doubt about our
ability to continue as a going  concern.  In 2004,  we have merged with a public
shell  company.  This  merger  provides  us with  limited  access to the capital
markets.  We plan to raise capital  through public or private stock offerings to
finance our  development  activities and ultimately,  to achieve  profitability.
However,  there is no  assurance  that we will be  successful  in our efforts to
raise capital or to become a profitable company.

                                       F-8
<PAGE>

                        In Vivo Medical Diagnostics, Inc.
                 (Formerly Sports Information Publishing Corp.)
                          (A Development Stage Company)
                   Notes to Consolidated Financial Statements


Use of Estimates

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

Cash and Cash Equivalents

We consider all highly  liquid  securities  with  original  maturities  of three
months  or  less  when  acquired  to be  cash  equivalents.  There  were no cash
equivalents at July 31, 2004.

Property and Equipment

Property and equipment are stated at cost.  Depreciation is calculated using the
straight-line  method over the  estimated  useful  lives of the related  assets,
generally ranging from three to five years. Property and equipment under capital
leases  are  stated at the  present  value of  minimum  lease  payments  and are
amortized using the  straight-line  method over the shorter of the lease term or
the estimated useful lives of the assets.  Leasehold  improvements are amortized
using the straight-line  method over the estimated useful lives of the assets or
the term of the lease, whichever is shorter.

Income Taxes

We account for income  taxes under the  provisions  of  Statement  of  Financial
Accounting  Standards No. 109,  Accounting for Income Taxes (SFAS 109). SFAS 109
requires  recognition  of deferred tax  liabilities  and assets for the expected
future tax  consequences  of events  that have been  included  in the  financial
statements  or tax returns.  Under this method,  deferred  tax  liabilities  and
assets are determined  based on the difference  between the financial  statement
and tax bases of assets and  liabilities  using  enacted tax rates in effect for
the year in which the differences are expected to reverse.

Revenue Recognition

Revenue related to Internet  services is recognized as the services are provided
and deferred and amortized to operations for amounts  billed  relating to future
periods. Installation and customer set up fees are recognized upon completion of
the services.

Revenue from  consulting  services is  recognized  as the services are provided.
Revenue from  hardware and software  sales is  recognized  upon  shipment of the
respective products.

Financial Instruments

At July 31, 2004, the fair value of our financial instruments  approximate their
carrying value based on their terms and interest rates.

Stock based Compensation

We  account  for  stock-based  compensation   arrangements  in  accordance  with
Statement of financial  Accounting  Standards ("SFAS") No. 123,  "Accounting for
Stock-Based  Compensation,"  which permits entities to recognize as expense over
the  vesting  period  the fair  value of all  stock-based  awards on the date of
grant.  Alternatively,  SFAS No. 123 allows  entities  to  continue to apply the
provisions of Accounting  Principle Board ("APB") Opinion No. 25 and provide pro
forma net earnings (loss) disclosures for employee stock option grants as if the
fair-value-based  method  defined  in SFAS  No.  123 had been  applied.  We have
elected to  continue to apply the  provisions  of APB Opinion No. 25 and provide
the pro forma disclosure provisions of SFAS No. 123.

                                       F-9
<PAGE>

                        In Vivo Medical Diagnostics, Inc.
                 (Formerly Sports Information Publishing Corp.)
                          (A Development Stage Company)
                   Notes to Consolidated Financial Statements


Foreign Currency Translation

Our  assets and  liabilities,  which have the  British  pound as its  functional
currency,  are  translated  into United States  dollars at the foreign  currency
exchange rate in effect at the applicable  reporting date, and the statements of
operations  are  translated at the average rates in effect during the applicable
period.  The  resulting  cumulative  translation  adjustment  is  recorded  as a
separate component of other comprehensive income.

Research and Development Costs

Research and development costs are expensed as incurred.

Recently Issued Accounting Pronouncements

In May 2003,  the  Financial  Accounting  Standards  Board  issued  Statement of
Financial Accounting Standard ("SFAS") No. 150, Accounting for Certain Financial
Instruments with  Characteristics  of both Liabilities and Equity.  SFAS No. 150
establishes  standards  for  how  an  issuer  classifies  and  measures  certain
financial  instruments with  characteristics  of both liabilities and equity. It
requires that an issuer classify a financial instrument this is within its scope
as a liability.  Many of those instruments were previously classified as equity.
SFAS No. 150 is effective for financial  instruments  entered into after May 31,
2003,  and otherwise is effective at the  beginning of the first interim  period
beginning  after June 15,  2003,  except for  mandatorily  redeemable  financial
instruments of nonpublic entities. For nonpublic entities, mandatorily financial
instruments  are subject to SFAS No. 150 for the first  period  beginning  after
December  15,  2003.  Adoption  of SFAS No.  150 will  require  us to report any
cumulative  redeemable  preferred  stock and any  cumulative  Class C redeemable
preferred stock outstanding at the time of adoption as a liability.

Note 2:  Related party transactions

We purchased  goods and services  from related  parties  totalling  $383,303 and
$242,200 during the year ended July 31, 2004 and 2003, respectively.  As of July
31, 2004, $75,156 is due to related parties.

We received advances from Westek Limited totalling $424,956 and we repaid Westek
limited a total of  $163,926  during the year ended July 31,  2004.  We received
advances from Westek Limited totalling $1,063,618 and we repaid Westek limited a
total of  $194,222  during the year ended July 31,  2004.  In July 2004,  Westek
agreed to release us from a portion of the accumulated  advances in exchange for
shares  of  preferred  stock.  We  realized  a gain on debt  extinguishments  of
$1,748,515 in the accompanying financial statements.

Note 3:  Property and equipment

Major classes of property and equipment as of July 31, 2004 are listed below:

     Furniture and fixtures ...........................   $ 28,764
     Office equipment .................................     65,678
     Plant and equipment ..............................     18,387
                                                          --------
                                                           112,829
     Less: accumulated depreciation ...................     70,048
                                                          --------
                                                          $ 42,781
                                                          ========

Depreciation expense was $21,620 and $21,046 for the years ended July 31 2004
and 2003, respectively.

                                      F-10
<PAGE>

                        In Vivo Medical Diagnostics, Inc.
                 (Formerly Sports Information Publishing Corp.)
                          (A Development Stage Company)
                   Notes to Consolidated Financial Statements


Note 4:  Notes payable

We are obligated under the following demand notes payable as of July 31, 2004:

      Inverness and Nairn Enterprise ...................   $ 88,245
      Steve Haggerty ...................................     10,000
      Kan Daglish ......................................     10,000
      Joe Frame ........................................     10,000
      Helen Goody ......................................      9,250
      James Bell .......................................     10,000
                                                           --------
                                                           $137,495
                                                           ========

Note 5:  Convertible preferred stock, at redemption value

As of July 30, 2004, our authorized capital included of 50,000,000 shares of
preferred stock of which 34,343,662 are outstanding and designated as 4%
convertible preferred stock.

Note 6:  Common stock

We are authorized to issue 100,000,000 shares of common stock.

Note 7:  Income taxes

A reconciliation of U.K. statutory income tax rate to the effective rate follows
for the years ended July 31, 2004 and 2003:

                                                            Years Ended
                                                              July 30,
                                                        ---------------------
                                                          2004         2003
                                                        --------     --------
U.K. statutory federal rate .........................    19.00%       30.00%
Net operating loss for which no tax
    benefit is currently available ..................   -19.00%      -30.00%
                                                        --------     --------
                                                          0.00%        0.00%
                                                        ========     ========


At July 31, 2004,  deferred U. K. income taxes were $-0-. U.K. pretax income was
$734,544 and a loss of  $1,080,619,  respectively,  for the years ended July 31,
2004 and 2003, respectively.

At July 31, 2004,  we had a net  operating  loss  carryfoward  of  approximately
$4,221,336,  which was fully allowed for in the valuation allowance of $802,054.
The valuation allowance offsets the net deferred tax asset for which there is no
assurance of recovery.  The change in the valuation allowance for the ten months
ended July 31, 2004 was $10,919.

                                      F-11
<PAGE>

                        In Vivo Medical Diagnostics, Inc.
                 (Formerly Sports Information Publishing Corp.)
                          (A Development Stage Company)
                   Notes to Consolidated Financial Statements


At July 31, 2003,  we had a net  operating  loss  carryfoward  of  approximately
$4,278,806,  which was fully allowed for in the valuation allowance of $812,973.
The valuation allowance offsets the net deferred tax asset for which there is no
assurance of recovery.

Note 8:  Acquisitions

July 26, 2004

On July 22, 2004, we acquired Jopejo Limited and IVMD UK, Inc. from Westek
Limited, in a tax-free stock exchange.

We issued 34,343,662 shares of convertible preferred stock in exchange for 100
percent of Jopejo Limited's issued and outstanding ordinary shares and 100
percent of Jopejo Limited's issued and outstanding ordinary and preferred
shares. In addition, we agreed to be co-obligor of approximately $1.8 million in
debt obligations to Westek. As part of the acquisition, we issued 3,000,000
shares of common stock to HEMP TL.

As a result of these  transactions,  Jopejo  limited  and IVMD UK,  Inc.  became
wholly owned subsidiaries.

July 30, 2004

On July 30, 2004, HEMP exchanged 100 percent of its outstanding shares of common
stock for  34,637,253  shares of the preferred  stock and  38,636,453  shares of
common stock of SIPC. This acquisition has been treated as a recapitalization of
HEMP, a Delaware  corporation,  with SIPC the legal surviving entity. Since SIPC
has, prior to the recapitalization, minimal assets (consisting primarily of cash
and trade payables) and no operations,  the  recapitalization has been accounted
for as the sale of  10,550,000  shares  of In Vivo DE  common  stock for the net
assets of SIPC. Costs of the transaction have been charged to the period.

                                      F-12