(Mark One)

For the Fiscal Year Ended March 31, 2003

Commission File No. 333-64474

`Nevada                                                          75-2912201
           ---------------------                                                 -------------------
           (State of incorporation)                                                (IRS Employer
                                                                                 Identification No.)
      2603 Fairmount, Suite 100
                Dallas, Texas                                                           75201
      --------------------------------------                                     -----------------
      (Address of Principal Executive Office)                                        Zip Code`

Registrant's telephone number, including Area Code: (214) 220-0690

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

Securities registered pursuant to Section 12(g) of the Act:

Check whether the
Registrant (1) has filed all reports required to be filed by Section 13 or 15(d)
of the Securities Exchange Act of 1934 during the 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.

Check if disclosure of
delinquent filers in response to Item 405 of Regulation S-B is not contained in
this form, and no disclosure will be contained, to the best of 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. 

[X]

The Company's revenues for the most recent fiscal year were $0.00.

The aggregate market value of the voting stock held by non-affiliates of the Company on July 8, 2003, was
$75,000.00.

As of July 8, 2003, the
Company had 2,000,000 issued and outstanding shares of common stock.

ITEM 1. DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS

General

Karrison
Compagnie, Inc., was incorporated under the laws of the State of Nevada on
December 12, 2000, and is in its early developmental and promotional stages. Our
general plan is to buy and sell antiques through periodic sales, a web page to
be developed and perhaps auctions. Our primary activities to date have consisted
of organizing our company, conducting an initial round of private and public
financing to obtain seed capital and beginning the process of
designing and implementing our business plan. Through the proceeds raised from a
public offering we recently completed, we expect to be able to continue to
acquire inventory, design and implement our website and establish relationships
with other antique dealers willing to allow us to assist in the sale of their
items on a consignment basis.

We
do not currently own and have no plans to acquire in the future any patents,
licenses, franchises, trademarks, concessions or royalty agreements.

We
expect to purchase our inventory through local and national wholesale antique
sources, auctions, estate sales, flea markets or wherever antiques can be bought
at what we consider good prices. We will then service the items as we consider
necessary, photograph, price and list them on our web site where they can be
viewed by potential buyers. We will also display antique items that have been
consigned to us by individuals and businesses. Customers with questions can
e-mail us, correspond by mail or phone us. All sales will be by check, money
order or credit card and we will ship the items when the funds clear.

Karrison
Nichols is our only employee and Ms. Nichols only devotes part of her time to
our business. If we are successful in generating sufficient net revenues in the
future so that we are able to acquire more inventory and conduct more auctions
and sales, Ms. Nichols will likely devote more time to our business. However, we
do not have an employment agreement with Ms. Nichols and have no assurances as
to the amount of time she will devote to our business in the future.

The
following are the primary manners in which we expect to conduct business:

Quarterly
Sales Events. We expect to conduct sales of antiques on a quarterly basis
although there can be no assurance we think sales this frequently are warranted.
These sales will be preceded by such advertising as we deem appropriate,
probably consisting of local newspaper advertisement, hand delivery of flyers to
people we think may be interested in our sales and word of mouth. To the extent
we are successful in generating net profits, we may expand these advertising
efforts to perhaps include local radio or television advertisements.

Our
quarterly sales will typically be conducted on a weekend so that the maximum
amount of customer traffic can be generated. We expect to conduct our sales in
the uptown area of Dallas where we maintain our offices. The uptown area of
Dallas has several other art gallery, antique stores and similar boutique
facilities so we hope that foot traffic to our sales is healthy.

We
conducted our first sale on May 5, 2001, at which we obtained sales revenues of
approximately $8,000. We expect to conduct additional sales in the future. The
frequency of our

sales will be largely
dependent upon our ability to obtain quality merchandise for sale together with
the sales results we obtain from our previous sales.

At
our sales, we will offer to the public items we own and items we have agreed to
sell on consignment from other dealers. When we conduct a sale on a consignment
basis, we expect to receive 20% of the purchase price paid at the sale for our
fee in conducting the sale. If we generate additional net revenue, we expect to
take a significant portion of any profits we make and devote them to acquiring
property that we think we can sell for a profit.

As
we continue to develop our business plan, we expect to be able to determine
whether or not it is more profitable for us to devote most of our efforts toward
consignment sales or toward sales of our own items. The percentage of our sales
that will be on a consignment basis versus a sale of items we own will be
determined after we can make an accurate assessment of which activities generate
the most net revenues for our company.

Auctions.
If our management thinks that an auction could best maximize the use of our
time, we may conduct auctions. If auctions are conducted, we expect the
financial parameters of the same to be similar to our sales. Specifically, we
would likely sell inventory that we currently own, presumably at a price in
excess of what we paid for the items, and may conduct the auction for the
benefit of third parties, receiving a typical auctioneers fee. We do not
expect to conduct any auctions until we have established our procedures for our
individual sales and our website.

Website.
We currently have two domain names registered , www.karrisoncompagnie.com and www.Karrison.com. We plan to operate an antique web site based
showroom through which we can display and offer our inventory to potential
purchasers. Our plan is to develop a web page with pictures of those items we
have in our inventory that are for sale along with pricing information and all
other data relevant to someone searching over the internet for antiques. We may
include some of our property through third party auction type web sites such as
e-Bay and other similar providers. The amount we spend on the development of our
website will be largely dependent upon the success we receive from maintaining
the same. Specifically, initially we expect to have a relatively simple web page
that is registered with the larger search engines. If we enjoy success that
generates profits, we may expand our web page capabilities and register with
additional search engines. Because we have not developed our web page yet, we
are unable to make any determinations at this point as to the total cost of
establishing and maintaining our web page and cannot, therefore, make any
estimates as to the percentage of our revenues that will come from website
sales.

ITEM 2.
DESCRIPTION OF PROPERTIES

Beginning
in January, 2001, we began acquiring inventory, consisting generally of
antiques. As of March 31, 2003, we have $26,432, at the lower of cost (primarily
specific identification) or market in inventory.

In
January, 2001, we entered into an agreement whereby we maintain a small office
at 2603 Fairmount Street, Suite 100, Dallas, Texas. This agreement is not in
writing but the owner of the building, an entity in which the husband of our
president owns a significant interest, has agreed to allow us to place many of
our antiques in the building to improve the decor of the building in return for
allowing us to store our inventory at the building and have access to the use of
the general office facilities in the building. In addition, we are charged
$50.00 each month for storage. Because we

are located in an historic
district, we are able to store our antiques in a building built in the
1800s, thus allowing us to showcase our merchandise while still performing
the basic function of storing the same.

We
have no assurances as to how long we will be able to maintain this favorable
relationship; if this relationship is ended, we would have to spend money to
obtain a suitable office and storage space. Unless we are successful in both
selling our shares and conducting business thereafter, this change could put us
out of business.

ITEM 3.  LEGAL PROCEEDINGS.

The
Company is not party to any pending legal proceeding nor is any of its property
the subject of any pending legal proceeding. The Company is not aware of any
proceeding that a governmental authority is contemplating.

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

Not Applicable

ITEM 5. MARKET
FOR REGISTRANTS COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

There
is currently no public trading market for our common stock. We hope to have a
market maker attempt to have our common stock prices listed on the bulletin
board maintained by the National Association of Securities Dealers. To be
eligible to have our common stock quoted on the bulletin board, we will be
required to file with the Securities and Exchange Commission periodic reports
required by the Securities and Exchange Act of 1934 and thus be a
reporting company. This is our first periodic report to be filed.

None
of our common stock is subject to outstanding options or rights to purchase nor
do we have any securities that are convertible into our common stock. We have
not agreed to register any our stock for anyone nor do we presently have in
effect employee stock options or benefit plans that would involve the issuing of
additional shares of our common stock. As of March 31, 2002, there were
1,010,000 shares issued and outstanding. Of these shares , 1,000,000 were issued
under Rule 4 (2) of the Securities Act of 1933 and are subject to the re-sale
restrictions of Rule 144. As of March 31, 2002, we had 15 shareholders, only one
of whom, our sole officer and director, owned more than 5%.

We
have never paid dividends and do not expect to declare any in the foreseeable
future. Instead, we expect to retain all earnings for our growth. Although we
have no specific limitations on our ability to pay dividends, the corporate law
of Nevada, the State under which we are organized, limits our ability to pay
dividends to those instances in which we have earnings and profits. If we are
unable to achieve earnings and profits in a sufficient amount to satisfy the
statutory requirements of Nevada, no dividends will be made, even if our Board
of Directors wanted to pay dividends. Investors should not purchase shares in
this offering if their intent is to receive dividends

ITEM 6.
MANAGEMENTS DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

Revenue:
During the twelve months ended March 31, 2003, we generated $0,00 in revenue
from sales as compared to $21,297 for the twelve months ended March 31, 2002.
The $21,297 decrease was primarily due to having no sales events in 2003.

Expenses:
During the twelve months ending March 31, 2003, we generated $14,903 in expenses
compared to $16,786 for the twelve months ending March 31, 2002. The $1,833
decrease was primarily due to less auditing salary cost.

Net
Loss: During the twelve months ending March 31, 2003, we generated $14,634
in losses as compared to $17,168 for the twelve months ending March 31, 2002.
The $2,534 decrease was primarily due to less auditing salary cost..

Liquidity
and Capital Resources: Over the next twelve months we expect our primary
expenses to be acquisition of properties for sale, advertising costs associated
with conducting our sales, paying for the development and maintenance of our web
page and perhaps paying a salary to Ms. Nichols. Our business plan is such that
if we are successful in generating net profits from our activities, we will
acquire more properties, perhaps conduct more sales, hire additional staff and
attempt to grow our company in an orderly way. On May 10, 2002, we successfully
completed our initial public offering raising $50,000 from fifty five (55)
shareholders. These funds were used to pay down the loan from Karrison Nichols
and to fund our working capital needs.

We
have signed a note with Ms. Nichols where she may loan up to $50,000 to our
company, although Ms. Nichols can choose whether or not she wants to make
additional advances under this note. Other than this potential right to borrow
from Ms. Nichols, we have no other external sources of financing available.
However, the nature of our business is that with only a small amount of money,
we can continue in business and even potentially grow. This is because, due to
the previous loan from our shareholder, we have some inventory that we can sell.
If we are able to sell this inventory at a profit, we will generate more money
that can be invested in inventory, potentially exponentially increasing our
asset base. Although financing derived from the sale of our shares can
accelerate our growth, because we have only minimal expenses, we can survive
with little or no additional financing.

ITEM 7. FINANCIAL STATEMENTS

See the financial statements attached to this report.

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

Not applicable.

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

Ms.
Karrison Nichols, age 43, is our President, Chief Executive Officer, Secretary,
and Chairman of our Board. Ms. Nichols has over fifteen years experience in
design and restoration projects including 2 years of retail experience in
selling furniture, especially custom furniture. Ms Nichols received her BA from
the University of Wisconsin in 1981. In the past 5 years, Ms. Nichols has
supervised the restoration of an historic house located at 2600 State Street in
the State Street- Thomas Historical District in Dallas, Texas. Ms. Nichols has
also supervised the design and significant reconstruction of an 1889 vintage
home located in the uptown area of Dallas, near our office. and is in the
process of seeking to have this house included in the National Register of
Historic Places, maintained by the National Park Services. Ms Nichols is also
involved with Preservation Dallas and other historic associations and societies.

All
of our Directors serve for one year periods. We held our first annual meeting of
shareholder and directors in December, 2001 at which time Ms. Nichols was again
elected our sole director. Our directors serve for a period of one year unless
removed in accordance with our bylaws.

ITEM 10.
EXECUTIVE COMPENSATION

We
currently have one employee, Karrison Nichols. At present, Ms. Nichols is not
paid a salary but does own a significant amount of our common stock. Although we
have no current, definite plans for paying Ms. Nichols a salary during the next
six months, if our sales and website revenues generate enough profits, we expect
to pay Ms. Nichols a salary. In the interim, and until we generate enough net
sales revenues to pay a salary to Ms. Nichols, we may pay Ms. Nichols
compensation that is based upon the total amount of sales of items made by Ms.
Nichols.

Notwithstanding
the foregoing, in our financial statements we have shown $6,000 as of March 31,
2002, and $6,000 as of March 31, 2003, as being charged to capital for the services
Ms. Nichols has provided to our company. These services have consisted of the
conduct of our auction and the management of our inventory.

No
other officer or director has received any remuneration from us. Although we
have no current plan in existence, we may adopt a plan to pay or accrue
compensation to our officers and directors for services rendered. We have no
stock option, retirement, incentive or profit sharing plan or program for the
benefit of officers, directors or employees but our Board of Directors may
recommend the adoption of one or more of such programs in the future.

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

The
following table shows the ownership of the Companys common stock by the
Companys officers and directors and by those persons known by the Company
to be the beneficial owners of more than 5% of the Companys common stock
as of July 8, 2003. Unless otherwise indicated all shares are owned of record.

`Name of Shareholder                                 Number of Shares Owned              Percentage of Class
Karrison Nichols                                                 825,000                            41.25%

All directors, officers and 5% or more                           825,000                            41.25%
shareholders as a group ( 1 person)`

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

Our director,
Karrison Nichols has loaned us $25,153 to purchase property for sale to the
public.  This loan is reflected by a revolving note from our company to the order of Ms. Nichols in
the principal amount of $50,000 or so much thereof as is advanced my Ms. Nichols to us in her sole
and absolute discretion.  The interest rate in the note is 6% per annum.  The note is dated March
31, 2001, and is due on demand by Ms. Nichols but if no demand is made then principal and interest
are due on or before September 30, 2003.  The outstanding principal of the loan was paid down to
$2,252 from proceeds of our initial public offering.

We believe the terms
of the loan from Ms. Nichols are probably more favorable than might
otherwise be available to a company with few assets and no operating history; many commercial
banks would not even consider such a loan.   We believe the interest rate we are paying on the note
is priced a little higher than the market rate for loans of this size but given our limited assets and
history, we think this slightly increased rate is appropriate.

ITEM 13.  EXHIBITS AND REPORTS ON FORM 8-K

(a)  Exhibits.  See the attached and incorporated Exhibits.

(b)   The Company did not file any reports on Form 8-K during the year ending March 31, 2003.

In accordance with Section 13 or 15(a) of the Exchange Act, the Registrant has caused this
Report to be signed on its behalf by the undersigned, thereunto duly authorized on the 8th day of
July, 2003.

KARRISON COMPAGNIE, INC.

/s/ Karrison Nichols

Karrison Nichols, President, Chief Executive Officer and Principal Financial Officer

In accordance with the Exchange Act, this Report has been signed by the following persons on
behalf of the Registrant in the capacities and on the dates indicated.

`Signature                                                                        Title    Date
---------                                                                        -----    ----

/s/ Karrison Nichols
Karrison Nichols                                                                 Director        July 8th, 2003`

Date Filed: July 8, 2003                  
                        
                
                        
                
                  SEC File 333-64474

`EXHIBIT NO.                SEC REFERENCE          TITLE OF DOCUMENT                               LOCATION
                                    NUMBER
          1                           3                Charter and Bylaws                              Form SB-2 Filed
                                                                                                       July 3, 2001
          2                          23                Killman, Murrell & Company, P.C.                This Filing
                                                       Certified Public Accountants`

We hereby consent to the use in the Annual Report on Form 10-KSB of our report relating to the
financial statements of Karrison Compagnie, Inc., which appear in such Annual Report and Form 10-KSB.

`Page
                                                                                                                ----

Report of Independent Certified Public Accountants                                                               F-2

Balance Sheets as of March 31, 2003 and 2002                                                                     F-3

Statements of Operations for the Years Ended March 31, 2003 and 2002, and for the Period
   December 12, 2000 (Inception) to March 31, 2003                                                              F-4

Statements of Stockholders' Equity (Deficit) from December 12, 2000 (Inception)
   to March 31, 2003                                                                                             F-5

Statements of Cash Flows for the Years Ended March 31, 2003 and 2002, and for the Period
   December 12, 2000 (Inception) to March 31, 2003                                                              F-6

Notes to Financial Statements                                                                                   F-7`

`505 N. Big Spring, Suite 603              1931 E. 37th, Suite 7                    14810 Le Grande Drive
   Midland, Texas 79701                   Odessa, Texas 79762                      Addison, Texas 75001
      (915) 686-9381                    (915) 363-0067/550-4910                       (972) 991-9324
    Fax (915) 684-6722                     Fax (915) 363-0376                       Fax (972) 991-9323`

We have audited the
accompanying balance sheets of Karrison Compagnie, Inc. (a development stage
company) as of March 31, 2003 and 2002, and the related statements of
operations, stockholders equity (deficit) and cash flows for the years
ended March 31, 2003 and 2002, and for the period from December 12, 2000
(Inception) to March 31, 2003. These financial statements are the responsibility
of the Companys management. Our responsibility is to express an opinion on
these financial statements based on our audit.

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

In our opinion, the
financial statements referred to above present fairly, in all material respects,
the financial position of Karrison Compagnie, Inc. (a development stage company)
at March 31, 2003 and 2002, and the results of its operations and its cash flows
for the years ended March 31, 2003 and 2002 and for the period from December 12,
2000 (Inception) to March 31, 2003, in conformity with accounting principles
generally accepted in the United States of America.

Killman, Murrell & Co., P.C.
Dallas, Texas
May 14, 2003

`2003               2002
                                                                                -----------------  -----------
CURRENT ASSETS
   Cash                                                                               $  16,969          $   2,630
   Accounts Receivable                                                                        -                100
   Inventories, at lower of cost
     (principally specific identification) or market                                     26,432             26,354
                                                                                      ---------          ---------

              TOTAL CURRENT ASSETS                                                    $  43,401          $  29,084
                                                                                      =========          =========


                                            LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES
   Accrued Liabilities                                                                $      10          $   4,258
   Stockholder Payable - Note 3                                                           2,252             25,153
                                                                                      ---------          ---------

              TOTAL CURRENT LIABILITIES                                                   2,262             29,411
                                                                                      ---------          ---------

STOCKHOLDERS' (DEFICIT) EQUITY
   Common Stock $0.001 Par Value; Authorized 20,000,000 Shares;
     Issued and Outstanding 2,000,000 and 1,010,000
     Shares, Respectively                                                                 2,000              1,010
   Paid-In-Capital                                                                       72,800             17,690
   Deficit Accumulated during the Development Stage                                     (33,661)           (19,027)
                                                                                      ---------          ---------

              TOTAL STOCKHOLDERS' EQUITY (DEFICIT)                                       41,139               (327)
                                                                                      ---------          ---------

              TOTAL LIABILITIES AND STOCKHOLDERS'
                  EQUITY (DEFICIT)                                                    $  43,401          $  29,084
                                                                                      =========          =========`

`December 12, 2000
                                                                                                             (Inception) to
                                                                  March 31, 2003       March 31, 2002        March 31, 2003
                                                                  --------------       --------------        --------------
REVENUES
   Antiques and Furnishings Sales                                  $         -           $    21,297          $    23,158

COST OF REVENUES                                                             -                20,077               21,695
                                                                   -----------           -----------          -----------

              GROSS PROFIT                                                   -                 1,220                1,463
                                                                   -----------           -----------          -----------

GENERAL AND ADMINISTRATIVE EXPENSES                                      14,903               16,786               33,791
                                                                    -----------          -----------          -----------

              (LOSS) BEFORE OTHER INCOME
                  (EXPENSE) AND INCOME TAX                              (14,903)             (15,566)             (32,328)
                                                                    -----------          -----------          -----------

OTHER INCOME (EXPENSE)
   Other Income                                                             280                    -                  280
   Interest Expense                                                         (11)              (1,602)              (1,613)
                                                                    -----------          -----------          -----------

              TOTAL OTHER INCOME (EXPENSE)                                  269               (1,602)              (1,333)
                                                                    -----------          -----------          -----------

              (LOSS) BEFORE INCOME TAX                                  (14,634)             (17,168)             (33,661)

INCOME TAX - Note 4                                                           -                    -                    -
                                                                    -----------          -----------          -----------

              NET LOSS                                              $   (14,634)         $   (17,168)         $   (33,661)
                                                                    ===========          ===========          ===========

WEIGHTED AVERAGE NUMBER OF COMMON
    SHARES                                                            1,855,769              998,462            1,355,357
                                                                    ===========          ===========          ===========

(LOSS) PER COMMON SHARE                                             $     (.01)          $      (.02)         $      (.02)
                                                                    ==========           ===========          ===========`

`Common Stock
                                                -----------------
                                                 Number Of                     Paid-In-        Retained
                                                   Shares         Amount       Capital        (Deficit)         Total
                                                -------------     ------      -----------   -------------    --------

BALANCE, DECEMBER 12, 2000
         (Inception)                                       -     $     -       $       -       $       -       $       -

   Sale of Common Stock                            1,000,000       1,000           9,000               -          10,000

   Contribution of Services and Rent                       -           -           1,600               -           1,600

   Net (Loss)                                              -           -               -          (1,859)         (1,859)
                                                 -----------     -------       ---------      ----------       ---------

BALANCE, MARCH 31, 2001                            1,000,000       1,000          10,600          (1,859)          9,741

   Sale of Common Stock                               10,000          10             490               -             500

   Contributions of Services and Rent                      -           -           6,600               -           6,600

   Net (Loss)                                              -           -               -         (17,168)        (17,168)
                                                 -----------     -------       ---------      ----------       ---------

BALANCE, MARCH 31, 2002                            1,010,000       1,010          17,690         (19,027)           (327)

   Sale of Common Stock                              990,000         990          48,510               -          49,500

   Contributions of Services and Rent                      -           -           6,600               -           6,600

   Net (Loss)                                              -           -               -         (14,634)        (14,634)
                                                 -----------     -------       ---------      ----------       ---------

BALANCE, MARCH 31, 2003                            2,000,000     $ 2,000       $  72,800      $  (33,661)      $  41,139
                                                 ===========     =======       =========      ==========       =========`

`December 12, 2000
                                                                                                              (Inception) to
                                                                    March 31,2003       March 31,2002         March 31, 2003
                                                                    -------------       -------------         --------------
CASH FLOW FROM OPERATING ACTIVITIES
   Net (Loss)                                                          $  (14,634)          $  (17,168)         $  (33,661)
   Adjustments to Reconcile Net Loss to Net Cash
     From Operating Activities
       Contribution of Services and Rent                                    6,600                6,600              14,800
     Changes in Current Assets and Liabilities
       Accounts Receivable                                                    100                1,783                   -
       Inventory                                                              (78)              (3,804)            (26,432)
       Accrued Liabilities                                                 (4,248)               4,258                  10
                                                                       ----------           ----------          ----------

              NET CASH FLOW USED BY
                OPERATING ACTIVITIES                                      (12,260)              (8,331)            (45,283)
                                                                       ----------           ----------          ----------

CASH FLOW FROM FINANCING ACTIVITIES
   Change in Stockholder Payable                                          (22,901)               6,996               2,252
   Proceeds from Sale of Common Stock                                      49,500                  500              60,000
                                                                       ----------           ----------          ----------

              NET CASH FLOW PROVIDED BY
                FINANCING ACTIVITES                                        26,599                7,496              62,252
                                                                       ----------           ----------          ----------

NET  INCREASE (DECREASE) IN CASH                                           14,339                 (835)             16,969

CASH AT BEGINNING OF PERIOD                                                 2,630                3,465                   -
                                                                       ----------           ----------          ----------

CASH AT END OF PERIOD                                                  $   16,969           $    2,630          $   16,969
                                                                       ==========           ==========          ==========

SUPPLEMENTAL SCHEDULE OF CASH FLOW  INFORMATION
   Cash Flow Information
     Cash Paid During the Period For:
       Interest                                                        $    1,602           $        -          $    1,602
                                                                       ==========           ==========          ==========
       Income Taxes                                                    $        -           $        -          $        -
                                                                       ==========           ==========          ==========`

NOTE 1: DEVELOPMENT STAGE COMPANY

Karrison
Compagnie, Inc. (a development stage company) (the Company) was
incorporated under the laws of the State of Nevada on December 12, 2000, to
acquire antiques, collectibles, and home and office furnishings for resale
through periodic local showroom sales and web site sales. The Company has been
in the development stage since inception and is devoting substantially all of
its efforts to financial planning, raising capital, purchasing inventory,
marketing, and developing a local showroom. The Company also plans to sell its
merchandise on the internet.

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

Year End

The Company has elected a March 31, fiscal year end.

Revenue Recognition

Revenue
includes the sale of merchandise including delivery and set up fees associated
with the merchandise sale. The Company recognizes that revenue on the date the
customer takes delivery of the merchandise. Provisions for estimated returns
allowances are provided for in the same period the related sales are recorded.
The Companys financial statements are prepared using the accrual method of
accounting.

Accounts Receivable

Accounts
receivable represents billed amounts uncollected prior to March 31, 2003 and
2002. The receivables are considered collectible and no provision for
uncollectible accounts has been made.

Website Development Costs

The
Company has plans to develop a website to sell its merchandise on the internet.
In March 2000, the Emerging Issued Task Force reached a consensus on Issue No.
002, Accounting for Website Development Costs. For specific
website development costs, the consensus states that the accounting should be
based generally on the AICPA Statement of Position 981 (SOP
981), Accounting for the Cost of Computer Software Developed
or Obtained for Internal Use. Under SOP 981, development costs are
capitalized and amortized over the estimated useful life of the website. As of
March 31, 2003 and 2002, the Company had incurred no costs associated with the
development of its website.

NOTE 2:  SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (CONTINUED)

Income Taxes

The
Company provides for income taxes by utilizing the asset and liability approach
to financial accounting and reporting for income taxes. Deferred income tax
assets and liabilities are computed for differences between the financial
statement and tax basis of assets and liabilities that will result in taxable or
deductible amounts in the future based on enacted tax laws and rates applicable
to the periods in which the differences are expected to affect taxable income.
Valuation allowances are established when necessary to reduce deferred tax
assets to the amount expected to be realized. Income tax expense is the tax
payable or refundable for the period plus or minus the change during the period
in deferred tax assets and liabilities.

Use of Estimates and Assumptions

Management
uses estimates and assumptions in preparing financial statements in accordance
with generally accepted accounting principles. Those estimates and assumptions
affect the reported amounts of assets and liabilities, the disclosure of
contingent assets and liabilities, and the reported amounts of revenues and
expenses. Actual results could vary from the estimates that were used.

Net Income (Loss) Per Common Share

Net
income (loss) per common share is based on the weighted average number of common
shares outstanding during each respective period. Common stock equivalents that
would have had an anti-dilutive effect were excluded from the calculations.

Cash and Cash Equivalents

For
the purpose of reporting cash flows, the Company considers cash in operating
bank accounts, demand deposits, and cash on hand as cash and cash equivalents.

Inventory

Inventory

consists of antiques, collectibles, and home and office furnishings and
accessories stated at the lower of cost (principally specific identification) or
market.

Financial Instruments

The
Companys financial instruments include cash, cash equivalents, and trade
receivables. The carrying amounts of these financial instruments have been
estimated by management to approximate fair value.

NOTE 3: RELATED PARY TRANSACTIONS

The
Companys current officer and director is also a shareholder of the
Company. The following is a summary of transactions with officers and directors.

`-    The current officer and director purchased 500,000 shares of the Company's common stock for $5,000 in January 2001 and an
                      additional 325,000 shares in May 2002 for $16,250 as part of the public offering.

-    The current officer, director, and shareholder extended a 6% due on demand line of credit to the Company in the amount of
                      $50,000.  The amount payable on the line of credit was $2,252 and $25,153 at March 31, 2003 and 2002,
                      respectively. Interest was expensed in the amount of $11 and $1,602 for the years ended March 31, 2003 and
                      2002.

-    The current officer, director, and shareholder provides space to house inventory and conduct business.  Amounts charged to
                      expense for storage was $600 for each of the years ended March 31, 2003 and 2002.  The corresponding amounts
                      were credited to additional paid-in-capital.

-    The current officer, director and shareholder does not receive a salary from the Company; however, the value of her services in
                      the amount of $6,000 has been recorded as an expense of the Company for each of the years ended March 31, 2003
                      and 2002.  The corresponding amounts were credited to additional paid-in-capital.

                  - Sales were made to related parties in the amount of $11,898 for the year ended
                           March 31, 2002.

-    A close relative of the current officer and director purchased 49,000 of the Company's
                      common shares as part of the public offering completed in May 2002 for $2,450.`

NOTE 4: INCOME TAX

The
Companys statutory Federal tax rate is 15%. The statutory rate applied to
the net loss before income tax expense amounted to $2,195 and $2,275 for the
periods ended March 31, 2003 and 2002, respectively. There were no differences
in book and tax income.

Due
to the uncertainty regarding the levels of future earnings, the Company has
recorded a valuation allowance of $4,750, an increase of $2,475 to reflect the
estimated amount of deferred tax assets, which may not be realized, principally
due to the expiration of net operating loss carry forwards beginning in 2021.

NOTE 6: MAJOR CUSTOMER

Approximately
fifty-five percent (55%) of the Companys revenue was generated from a
single customer ( a related party) for the year ended March 31, 2002. For the
period December 12, 2000 (Inception) to March 31, 2001, approximately sixty-two
percent (62%) of the Companys revenues came from one customer (also a
related party).

NOTE 5: PUBLIC OFFERING

On
February 14, 2002, the Company completed its public offering to sell 1,000,000
shares of its common stock. Sale of that stock was complete by May 10, 2002 with
a net proceeds to the Company of $50,000.

I, Karrison Nichols, President, Director, Chief Executive Officer and Principal Financial Officer
of Karrison Compagnie, Inc., certify that:

1.       I have reviewed this annual report on Form 10-KSB of Karrison Compagnie, Inc.;

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

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

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

a.

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

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

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

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

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

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

6.       The registrant's other certifying officers and I have indicated in this annual report

whether
or not there were significant changes in internal controls or in other factors
that could significantly affect internal controls subsequent to the date of our
most recent evaluation, including any corrective actions with regard to
significant deficiencies and material weaknesses.

Date:            July 8, 2003

/s/ Karrison Nichols
                                                              Karrison Nichols, President,
                                                              Chief Executive Officer and
                                                              Principal Financial Officer