U.S. SECURITIES AND EXCHANGE COMMISSION
                       WASHINGTON, D.C.  20549

                             FORM 10-KSB

[X] Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934

For the fiscal year ended December 31, 2002    Commission File No. 333-83125

[  ] Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934

     For the transition period from           to           .

                     FIRST GROWTH INVESTORS, INC.
            (Name of small business issuer in its charter)

           Nevada                                         87-0569467
     State or other jurisdiction of                    (I.R.S. Employer
     incorporation or organization                     Identification No.)

           2508 South 1300 East, Salt Lake City, Utah 84106
         (Address of principal executive offices)  (zip code)

Issuer's telephone number, including area code:  (801) 466-7808

    ______________________________________________________________
    (Former name or former address, if changed since last report.)

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

Check whether the Issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the Issuer was required
to file such reports)                            Yes   X      No
and (2) has been subject to such filing requirements for the past 90 days.
                                                 Yes   X      No

Check if no disclosure of delinquent filers in response to Item 405 of
Regulation S-B is contained in this form, and no disclosure will be contained,
to the best of the Issuer's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. (Not applicable)                  [   ]

The Issuer's revenues for its most recent fiscal year.        $ 11,882

As of February 19, 2003, the aggregate market value of voting stock held by
non-affiliates was approximately $125,000.

The number of shares outstanding of the Issuer's common stock at December 31,
2002: 2,000,000

<PAGE>

                                PART I

ITEM 1.   DESCRIPTION OF BUSINESS

     (A)  BUSINESS DEVELOPMENT.

     First Growth Investors, Inc. (the "Company") was incorporated under the
laws of the State of Nevada on September 9, 1997.  In connection with the
organization, the founders contributed $5,050 cash to initially capitalize
First Growth Investors in exchange for 1,750,000 shares of common stock.

     On October 15, 1997, First Growth Investors commenced a public offering
of up to 250,000 shares of its common stock, in reliance upon Rule 504 of
Regulation D, promulgated by the U.S. Securities & Exchange Commission under
the Securities Act of 1933.  The offering closed in November, 1997.  The
Company sold 250,000 shares of common stock, at $.20 per share, and raised
gross proceeds of $50,000 increasing the total issued and outstanding common
stock to 2,000,000 shares.

     The Company then registered a public offering of its securities.  First
Growth Investors declared a distribution of 1,000,000 common stock purchase
warrants to shareholders of record as of September 30, 1999.  The Company
filed with the Securities and Exchange Commission a registration statement on
Form SB-2, Commission File No. 333-83125, which became effective October 8,
1999.  Pursuant thereto the Company then distributed 1,000,000 warrants.  The
warrants were exercisable at $1.00 per share, on or before June 30, 2002. The
warrants have now expired, and no securities were ever sold pursuant to the
offering.

     (B)  BUSINESS OF COMPANY.

     First Growth Investors was formed to take advantage of what management
believes is a money making opportunity that can be realized through buying,
selling and investing in select vintages of wines.  The philosophy is simple;
buy California's and France's premier red wines when they are first released
and hold them for investment, appreciation and later resale, then sell the
wines after a 12 to 24 month period.  It is anticipated, but not assured, that
the appreciation of the wines will be greatest within this period.  The
Company will then take any proceeds from investment, roll it over, and
reinvest in the next release of the wines.

     In November, 1997, First Growth Investors used the proceeds of its
recently completed offering to purchase several vintages of investment grade
wines.  These were all sold during the first quarter of 1999.  In July and
August of 1999,  First Growth Investors reinvested the amounts received from
the initial sales in other vintages of investment grade wines.  These were all
sold during the fiscal year ended December 31, 2002. The Company has no
inventory remaining at this time, but the Company has determined that it shall
continue to look for investment opportunities in the area of investment grade
vintages of wines.

<PAGE>

     There is absolutely no assurance that First Growth Investors will be
successful in this venture.  Management has no prior experience in this
business or industry and will have to rely on the advice of others.  However,
the initial purchase of wines, an investment costing about $50,000, was
subsequently sold for an amount which generated a gross profit in excess of
$20,000.

ITEM 2.   PROPERTIES

     First Growth Investors has no office facilities and does not presently
anticipate the need to lease commercial office space or facilities. For now
the President's address is being used as the business address.  The Company
may lease commercial office facilities in the future at such time as
operations have developed to the point where the facilities are needed, but
has no commitments or arrangements for any facilities. There is no assurance
regarding the future availability of commercial office facilities or terms on
which the Company may be able to lease facilities in the future, nor any
assurance regarding the length of time the present arrangement may continue.

ITEM 3.   LEGAL PROCEEDINGS.

     The Company is not a party to any material pending legal proceedings
and, to the best of its knowledge, no action has been threatened by or against
the Company.

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

     No matter was submitted to a vote of security holders through the
solicitation of proxies or otherwise during the fourth quarter of the fiscal
year covered by this report.

                               PART II

ITEM 5.   MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

     (A)  MARKET INFORMATION.

     The Company's initial public offering closed November, 1997.  The Common
Stock of the Company did not begin until October, 1998 to be quoted on the
Electronic Bulletin Board maintained by the National Association of Securities
Dealers, Inc. The common stock is quoted under the symbol FGIV, but has not
been traded in the over-the-counter market except on a very limited and
sporadic basis. The following sets forth high and low bid price quotations for
each calendar quarter during the last two fiscal years that trading occurred
or quotations were available. Such quotations reflect inter-dealer prices,
without retail mark-up, mark-down or commission and may not represent actual
transactions.

<PAGE>

     Quarter Ended                 High                     Low

     March 31, 2001                $ .50                    $ .50
     June 30, 2001                 $ .50                    $ .50
     September 30, 2001            $ .50                    $ .50
     December 31, 2001             $ .50                    $ .50

     March 31, 2002                $ .50                    $ .50
     June 30, 2002                 $ .50                    $ .50
     September 30, 2002            $ .50                    $ .50
     December 31, 2002             $ .25                    $ .25

     (B)  HOLDERS.

     As of February 19, 2003, there were about 39 record holders of the
Common Stock.

     (C)  DIVIDENDS.

     First Growth Investors has not previously paid any cash dividends on
common stock and does not anticipate or contemplate paying dividends on common
stock in the foreseeable future.  Management's present intention is to utilize
all available funds for the development of the business.  The only
restrictions that limit the ability to pay dividends on common equity or that
are likely to do so in the future, are those restrictions imposed by law.
Under Nevada corporate law, no dividends or other distributions may be made
which would render a company insolvent or reduce assets to less than the sum
of liabilities plus the amount needed to satisfy outstanding liquidation
preferences.

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

PLAN OF OPERATIONS.

     Management's plan of operation for the next twelve months is to continue
using existing capital to provide general working capital during the next
twelve months, and the Company may also use funds to acquire another inventory
of select wines to hold for investment and resale, if a suitable investment
opportunity can be located.  Under this plan of operations, First Growth
Investors has no specific capital commitments and the timing of capital
expenditures will depend upon finding a suitable investment opportunity and
the receipt of additional funds, if necessary, none of which is assured.  We
have not determined how long existing capital can satisfy any cash
requirements, but we do not presently anticipate that we will have to raise
additional funds within the next twelve months.  We do not anticipate any
capital commitments for product research and development or significant
purchases of plant or equipment, or any change in the number of employees.

<PAGE>

     The Company has no inventory remaining at this time, but the Company has
determined that it shall continue to look for investment opportunities in the
area of investment grade vintages of wines. Accordingly, the Company's ability
to accomplish it business strategy and to ultimately become profitable is at
this time dependent on the success of its ability to generate significant
revenue and to ultimately achieve profitable operations. At present the
Company's only asset is cash of $9,373.  There can be no assurance that the
Company will be able to obtain additional funding or profitable investing in
wines and, if available, that the profits from its investing in wine or the
funding if obtained will be on terms favorable to or affordable or in adequate
amounts needed to complete its current business plan.  The Company's
management is exploring all of its options so that it can develop successful
operations around its business plan.  Ultimately, however, the Company will
need to achieve profitable operations in order to continue as a going concern.

ITEM 7.   FINANCIAL STATEMENTS.

     See attached Financial Statements and Schedules.

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

     There are not and have not been any disagreements between the Company
and their accountants on any matter of accounting principles or practices or
financial statement disclosure.

                               PART III

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

     (A)  IDENTIFY DIRECTORS AND EXECUTIVE OFFICERS.

     The following table sets forth the sole director and executive officer
of the Company, her age, and all offices and positions with the Company.  A
director is elected for a period of one year and thereafter serves until her
successor is duly elected by the stockholders and qualifies.  Officers and
other employees serve at the will of the Board of Directors.

<TABLE>
<S>                      <C>              <C>
                         Term Served As   Positions
Name of Director Age     Director/Officer With Company

Pam Jowett       50      Since inception  President &
                                          Secretary/Treasurer
</TABLE>

     A brief description of her background and business experience is as
follows:

<PAGE>

     PAM JOWETT  serves as President, Secretary/Treasurer and Director of the
Company.  Ms. Jowett has been self employed for many years as a nail
technician in the beauty industry. Ms. Jowett has no prior experience in the
business of buying, selling and investing in wines, and will have to rely on
the advice of other persons on the purchase of suitable wines.

     Ms. Jowett also serves as President and Director of Fashion Tech
International, Inc. another company subject to the reporting requirements of
the Securities Exchange Act of 1934. The director holds no other directorships
in any company subject to the reporting requirements of the Securities
Exchange Act of 1934.

     (B)  IDENTIFY SIGNIFICANT EMPLOYEES.

     None other than the person previously identified.

     (C)  FAMILY RELATIONSHIPS.

     None

     (D)  INVOLVEMENT IN CERTAIN LEGAL PROCEEDINGS.

     Except as described herein, no present officer or director of the
Company; 1) has had any petition filed, within the past five years, in Federal
Bankruptcy or state insolvency proceedings on such person's behalf or on
behalf of any entity of which such person was an officer or general partner
within two years of filing; or 2) has been convicted in a criminal proceeding
within the past five years or is currently a named subject of a pending
criminal proceeding; or 3) has been the subject, within the past five years,
of any order, judgment, decree or finding (not subsequently reversed,
suspended or vacated) of any court or regulatory authority involving violation
of securities or commodities laws, or barring, suspending, enjoining or
limiting any activity relating to securities, commodities or other business
practice.

COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT.  Section 16(a) is not
applicable.

ITEM 10.  EXECUTIVE COMPENSATION.

     The Company has not paid any cash compensation to its executive officer
to date.

COMPENSATION OF DIRECTORS     None

EMPLOYMENT CONTRACTS AND TERMINATION OF EMPLOYMENT AND CHANGE-IN-CONTROL
ARRANGEMENTS

     The Company has not entered into any contracts or arrangements with any
named executive officer which would provide such individual with a form of
compensation resulting from

<PAGE>

such individual's resignation, retirement or any
other termination of such executive officer's employment with the Company or
its subsidiary, or from a change-in-control of the Company or a change in the
named executive officer's responsibilities following a change-in-control.

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

     The following table contains stock ownership information about officers
or directors, and other stockholders who we know to be beneficial owners of
more that 5% of our stock. A beneficial owner of stock is any person who has
or shares the power to decide how to vote or whether to dispose of the stock.

<TABLE>
<S>                   <C>       <C>                  <C>
                      Title of  Amount & Nature of   % of
Name and Address       Class    Beneficial Ownership Class

Pam Jowett             Common   1,575,000 shares     79%
2508 S. 1300 E.
SLC, UT 84106

Lynn Dixon             Common     175,000 shares      9%
311 S. State, #460
SLC, UT 84111

All officers and       Common   1,575,000 shares     79%
directors as a group
(1 person)

</TABLE>

     The foregoing amounts include all shares these persons are deemed to
beneficially own regardless of the form of ownership.

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

     The Company has entered into certain transactions with officers,
directors or affiliates of the Company which include the following:

     In connection with the organization, initial stockholders paid an
aggregate of $5,050 cash to purchase 1,750,000 shares of Common Stock at a
price of $.0029 per share.

     Except as disclosed in this item, in notes to the financial statements
or elsewhere in this report, the Company is not aware of any indebtedness or
other transaction in which the amount involved exceeds $60,000 between the
Company and any officer, director, nominee for director, or 5% or greater
beneficial owner of the Company or an immediate family member of such person;
nor any relationship in which a director or nominee for director of the
Company was also an officer, director, nominee for director, greater than 10%
equity owner, partner, or member of any firm or other entity which received
from or paid the Company, for property or services, amounts exceeding 5% of
the gross annual revenues or total assets of the Company or such other firm or
entity.

<PAGE>

ITEM 13.  EXHIBITS AND REPORTS ON FORM 8-K.

     (A)  EXHIBITS to this report are all documents previously filed which
are incorporated herein as exhibits to this report by reference to
registration statements and other reports previously filed by the Company
pursuant to the Securities Act of 1933 and the Securities Exchange Act of
1934.

     (B)  REPORTS ON FORM 8-K have not been filed during the last quarter of
the fiscal year ended December 31, 2002.

ITEM 14.  CONTROLS AND PROCEDURES.

     The issuer's principal executive officer or officers and principal
financial officer or officers, or persons performing similar functions, are
responsible for establishing and maintaining disclosure controls and
procedures (as such term is defined in paragraph (c) of Rule 15d-14) for the
issuer and have:

     designed such disclosure controls and procedures to ensure that material
information relating to the issuer, including its consolidated subsidiaries,
is made known to them by others within those entities, particularly during the
period in which the periodic reports are being prepared;

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

     Based on their evaluation as of the Evaluation Date, their conclusions
about the effectiveness of the disclosure controls and procedures were that
nothing indicated:

     any significant deficiencies in the design or operation of internal
controls which could adversely affect the issuer's ability to record, process,
summarize and report financial data;

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

     any material weaknesses in internal controls that have been or should be
identified for the issuer's auditors and disclosed to the issuer's auditors
and the audit committee of the board of directors (or persons fulfilling the
equivalent function).

     Changes in internal controls. There were no significant changes in the
issuer's internal controls or in other factors that could significantly affect
these controls subsequent to the date of the evaluation, including any
corrective actions with regard to significant deficiencies and material
weaknesses.

<PAGE>

                              SIGNATURES

In accordance with Section 12 of the Securities Exchange Act of 1934, the
registrant caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized.


First Growth Investors, Inc.



By:     /s/ Pam Jowett      Date:   February 21, 2003
     Pam Jowett, President and Secretary/Treasurer
     Chief Executive Officer and
     Chief Financial Officer


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



By:      /s/ Pam Jowett       Date:    February 21, 2003
     Pam Jowett, President and Secretary/Treasurer
     Chief Executive Officer and
     Chief Financial Officer




CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

     The undersigned Chief Executive Officer and Chief Financial Officer
certify that this report fully complies with the requirements of Section 13 or
15(d) of the Securities Exchange Act of 1934, and the information contained in
the report fairly presents, in all material respects, the financial condition
and results of operations of the Company.



Date: February 21, 2003                 by:     /s/ Pam Jowett
                                   Pam Jowett, President & Director


<PAGE>

                           CERTIFICATIONS*

I, Pam Jowett, certify that:
1. I have reviewed this annual report on Form 10-QSB of First Growth
Investors, Inc., the  registrant;
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: February 21, 2003            by:     /s/ Pam Jowett
                              Pam Jowett, President & Director
                    (Chief Executive Officer and Chief Financial Officer)

* Provide a separate certification for each principal executive officer and
principal financial officer of the registrant. See Rules 13a-14 and 15d-14.
The required certification must be in the exact form set forth above.


<PAGE>


Supplemental Information to be Furnished With Reports Filed Pursuant to
Section 15(d) of the Exchange Act by Non Reporting Issuers

No annual report or proxy statement has been sent to security holders.



<PAGE>















                    FIRST GROWTH INVESTORS, INC.
                   (A Development Stage Company)

                        FINANCIAL STATEMENTS

        FOR THE YEARS ENDED DECEMBER 31, 2002 AND 2001

                                WITH

                    INDEPENDENT AUDITOR'S REPORT




<PAGE>
                    FIRST GROWTH INVESTORS, INC.
                   (A Development Stage Company)


                              CONTENTS


                                                                 PAGE


  Independent Auditor's Report                                     1

  Balance Sheets                                                   2

  Statements of Operations                                         3

  Statement of Stockholders' Equity                                4

  Statements of Cash Flows                                         5

  Notes to Financial Statements                                  6-7






  <PAGE>






  Independent Auditor's Report

  Board of Directors
  FIRST GROWTH INVESTORS, INC.
  Salt Lake City, Utah

  I have audited the accompanying balance sheets of First Growth
  Investors, Inc. (A development stage company) as of December 31, 2002
  and 2001 and the related statements of operations, stockholders' equity
  and cash flows for the years then ended and from inception (September 9,
  1997) to December 31, 2002. These financial statements are the
  responsibility of the Company's management. My responsibility is to
  express an opinion on the financial statements based on my audits.

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

  In my opinion, the financial statements referred to above present
  fairly, in all material respects, the financial position of First Growth
  Investors, Inc. (A development stage company) as of December 31, 2002
  and 2001, and the results of its operations and its cash flows for the
  years then ended and from Inception (September 9, 1997) to December 31,
  2002 in conformity with accounting principles generally accepted in the
  United States of America.


                                       /s/ David T. Thomson P.C.



  Salt Lake City, Utah
  February 5, 2003


<PAGE>

                     FIRST GROWTH INVESTORS, INC.
                    (A Development Stage Company)

                            BALANCE SHEETS

                                ASSETS


                                              December 31,        December 31,
                                                  2002                2001
                                              ________________________________

CURRENT ASSETS:
     Cash in bank                                  $9,373              $  166
     Inventory                                          -              47,000
                                                _____________________________

               Total Current Assets                $9,373              47,166
                                                _____________________________

TOTAL ASSETS                                    $   9,373           $  47,166
                                                =============================

                 LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
     Accounts payable                           $        0      $           0
     Accrued interest payable                        3,079              1,493
     Stockholder advances payable                   16,450             12,200
                                                _____________________________

               Total Current Liabilities            19,529             13,693
                                                _____________________________

STOCKHOLDERS' EQUITY:
     Preferred stock; $.001 par value,
         1,000,000 shares authorized,
          no shares issued and outstanding               0                  0
     Common Stock; $.001 par value, 24,000,000
         shares authorized 2,000,000 shares
          issued and outstanding                     2,000              2,000
     Capital in excess of par value                 47,362             47,362
     Earnings (deficit) accumulated during the
          development stage                        (59,518)           (15,889)
                                                _____________________________

          Total Stockholders' Equity(Deficit)      (10,156)            33,473
                                                _____________________________

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY      $    9,373     $       47,166
                                                =============================

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

                                 2
<PAGE>



                     FIRST GROWTH INVESTORS, INC.
                    (A Development Stage Company)

                       STATEMENTS OF OPERATIONS


                                   For The        For The        Cumulative
                                   Year Ended     Year Ended     During The
                                   December 31,   December 31,   Development
                                      2002           2001           Stage
                                   __________________________________________


REVENUE:
     Sales                           $11,882           $   0        $  99,820
     Costs of goods sold             (47,900)              0         (118,168)
                                   __________________________________________

          Gross profit(loss)         (36,018)              0          (18,348)
                                   __________________________________________

EXPENSES:
     Professional fees                 5,891            5,165          18,456
     Fees and licenses                   135              135           2,071
     Warrant registration costs            0           14,476          14,476
     Amortization expense                  0                0             250
                                   __________________________________________

                                       6,026           19,776          35,253
                                   __________________________________________

INCOME (LOSS) FROM OPERATIONS        (42,044)         (19,776)        (53,601)

OTHER INCOME (EXPENSE)
     Other income                          0                0           1,000
     Interest expense                 (1,585)          (1,040)         (4,262)
                                   __________________________________________

NET INCOME BEFORE INCOME TAXES       (43,629)         (20,816)        (56,863)
     Provision for income taxes            0                0          (1,905)
                                   __________________________________________

NET INCOME (LOSS) BEFORE CUMULATIVE
EFFECT OF ACCOUNTING CHANGE          (43,629)         (20,816)        (58,768)
     Cumulative effect of accounting
     change for organization costs         0                0            (750)
                                   __________________________________________

NET INCOME (LOSS)                  $ (43,629)    $    (20,816)     $  (59,518)

EARNINGS (LOSS) PER SHARE
     Before cumulative effect of
           accounting change       $   (0.02)    $      (0.01)     $    (0.03)

     Cumulative effect of
             accounting change             0                0            0.00
                                   __________________________________________

     Net income (loss)             $   (0.02)    $      (0.01)     $    (0.03)
                                   ==========================================
WEIGHTED AVERAGE SHARES
OUTSTANDING                        2,000,000        2,000,000       1,992,188
                                   ==========================================


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


                                 3
<PAGE>

                   FIRST GROWTH INVESTORS, INC.
                  (A Development Stage Company)

                STATEMENT OF STOCKHOLDERS' EQUITY


                                                                  Deficit
                                                                  Accumulated
                                        Common Stock  Capital in  During the
                                                      Excess of   Development
                                        Shares Amount Par Value      Stage
                                     ________________________________________

BALANCE, September 9, 1997 (inception)       0   $  0      $  0         $  0

Shares issued to initial
  stockholders for cash,
  September 18, 1997 at
  approximately $.0029 per share     1,750,000  1,750     3,300            0

Shares issued upon completion
  of offering of stock
  to the public at $.20 per
  share, November 1997                 250,000    250    49,750            0

Direct costs of the offering
  of common stock to the public              0      0    (5,688)           0

Net income (loss) from
  September 9, 1997 (inception)
  to December 31, 1997                       0      0         0       (2,350)
                                     ________________________________________

BALANCE, December 31, 1997           2,000,000  2,000    47,362       (2,350)

Net income (loss) for the
  year ended December 31, 1998               0      0         0       (1,440)
                                     ________________________________________

BALANCE, December 31, 1998           2,000,000  2,000    47,362       (3,790)

Net income (loss) for the
  year ended December 31, 1999               0      0         0       14,032
                                     ________________________________________

BALANCE, December 31, 1999           2,000,000  2,000    47,362       10,242

Net income (loss) for the
  year ended December 31, 2000               0      0         0       (5,315)
                                     ________________________________________

BALANCE, December 31, 2000           2,000,000  2,000    47,362        4,927

Net income (loss) for the
  year ended December 31, 2001               0      0         0      (20,816)
                                     ________________________________________

BALANCE, December 31, 2001           2,000,000 $2,000   $47,362     $(15,889)

Net income (loss) for the
  year ended December 31, 2002               0      0         0      (43,629)
                                     ________________________________________

BALANCE, December 31, 2002           2,000,000 $2,000   $47,362     $(59,518)
                                     ========================================

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

                                 4

<PAGE>

                     FIRST GROWTH INVESTORS, INC.
                    (A Development Stage Company)

                      STATEMENTS OF CASH  FLOWS


                                        For The      For The      Cumulative
                                        Year Ended   Year Ended   During The
                                        December 31, December 31, Development
                                            2002         2001        Stage
                                        _____________________________________

CASH FLOWS FROM OPERATING ACTIVITIES:
     Sales                               $11,882         $  0      $  87,938
     Organization costs                        0            0         (1,000)
     Cash paid for inventory and
         related costs                         0            0       (118,168)
     Cash paid to suppliers and others    (6,925)     (21,276)       (34,192)
     Cash paid for taxes                       0            0         (1,905)
     Cash paid for interest                    0            0           (994)
                                        _____________________________________
          Cash Flows (Used) by
          Operating Activities             4,957      (21,276)       (56,439)
                                        _____________________________________

CASH FLOW FROM INVESTING ACTIVITIES:           0            0              0
                                        _____________________________________

CASH FLOWS FROM FINANCING ACTIVITIES:
     Stockholder loan                      4,250        6,700         16,450
     Sale of common stock                      0            0         55,050
     Direct costs of common stock sale         0            0         (5,688)
     Direct costs of warrants registration     0            0        (14,476)
     Expense direct cost of
          warrant registration                 0       14,476         14,476
     Proceeds from short term
          advance and loan                     0            0         27,350
     Loan and advance payments                 0            0        (27,350)
                                        _____________________________________
          Cash Flows Provided (Used)
          by Financing Activities          4,250       21,176         65,812
                                        _____________________________________

NET INCREASE (DECREASE) IN CASH            9,207         (100)         9,373

CASH - BEGINNING OF PERIOD                   166          266              0
                                        _____________________________________

CASH - END OF PERIOD                    $  9,373    $     166     $    9,373
                                        =====================================

RECONCILIATION OF NET INCOME (LOSS)
   TO NET CASH PROVIDED (USED) BY
   OPERATING ACTIVITIES

NET INCOME (LOSS)                       $(43,629)   $ (20,816)    $  (59,518)
                                        _____________________________________

Adjustment to reconcile net income(loss)
 to net cash provided(used) by
 operating activities
  Amortization of organization costs           0            0            250
  Cumulative change in accounting principle    0            0            750
  Changes in assets and liabilities
   (Increase) decrease in inventory       47,000            0              0
   (Increase) in organization costs            0            0         (1,000)
   (Decrease) in accounts payable              0       (1,500)             0
   Increase(decrease)in accrued interest   1,586        1,040          3,079
                                        _____________________________________

          Total Adjustments               48,586         (460)         3,079
                                        _____________________________________

NET CASH PROVIDED (USED)
     BY OPERATING ACTIVITIES            $  4,957    $ (21,276)    $  (56,439)
                                        =====================================



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

                                 5

<PAGE>



                    FIRST GROWTH INVESTORS, INC.
                   (A Development Stage Company)

                   NOTES TO FINANCIAL STATEMENTS

  NOTE   1  -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

       Organization  -  The Company was organized under the laws of the
       State of Nevada on September 9, 1997 and has elected a fiscal year
       end of December 31st. The Company was formed for the purpose of
       engaging in any lawful business practice. The Company acquired an
       inventory of select wines to hold for investment and resale. The
       entire inventory was sold during the year ended December 31, 2002.
       (See Note 6).  The Company is considered a development stage
       company as defined in SFAS No. 7. The Company has at the present
       time, not paid any dividends and any dividends that may be paid in
       the future will depend upon the financial requirements of the
       Company and other relevant factors.

       Net Earnings Per Share  -  The computation of net income (loss)
       per share of common stock is based on the weighted average number
       of shares outstanding during the period presented.

       Organization Costs  -  The Company was amortizing its organization
       costs, which reflect amounts expended to organize the Company,
       over sixty (60) months using the straight-line method.  In 1998,
       the Accounting Standards Executive Committee (AcSEC) of the
       American Institute of Certified Public Accountants issued
       Statement of Position (SOP) 98-5, "Reporting on the Costs of
       Start-up Activities."  The SOP requires costs of start-up
       activities and organization cost to be expensed as incurred.
       During 1999, the Company adopted the SOP and recognized a charge
       for the cumulative effect of accounting change of $750.

       Income Taxes  -  Income tax expenses includes federal and state
       taxes currently payable and deferred taxes arising from temporary
       differences between income for financial reporting and income tax
       purposes.

       Cash and Cash Equivalents  -  For purposes of the statement of
       cash flows, the Company considers all highly liquid debt
       instruments purchased with a maturity of three months or less to
       be cash equivalents. During the years ended December 31, 2002 and
       2001, the Company did not have non-cash investing and financing
       activities.

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

       Inventory   -   Inventory consists of finished product purchased
       for resale and is stated at the lower of cost determined by the
       FIFO Method or Market.

  NOTE   2  -  COMMON STOCK TRANSACTIONS

       The Company on September 18, 1997 sold 1,750,000 shares of common
       stock to initial stockholders at approximately $.0029 per share
       for $5,050.

       During November 1997, the Company completed an offering of its
       common stock wherein it sold shares of the Company's common stock
       to the public at $.20 per share for a total of $50,000. Direct
       costs of the offering were $5,688.





                                 6

<PAGE>


                    FIRST GROWTH INVESTORS, INC.
                   (A Development Stage Company)

                   NOTES TO FINANCIAL STATEMENTS


  NOTE   2  -  COMMON STOCK TRANSACTIONS - CONTINUED

       The Company completed a registration of common stock warrants
       during 1999.  The cost of registering the warrants was $ 14,476.
       During the year ended December 31, 2001 these costs were expensed.
       Prior to this year the above was shown on the balance sheet as a
       deferred cost.  At December 31, 2000, the Company had outstanding
       warrants to purchase 1,000,000 shares of the Company's common
       stock, at $1.00 per share.  The warrants are exercisable prior to
       June 30, 2002.  At December 31, 2001, none of the warrants had
       been exercised and had expired.

  NOTE    3  -  RELATED PARTY TRANSACTIONS

       An officer of the Company is providing a mailing address to the
       Company without charge. This service has been determined by the
       Company to have only nominal value. As of December 31, 2002 and
       2001 no compensation has been paid or accrued to any officers or
       directors of the Corporation.

  NOTE    4  -  INCOME TAXES

       The Company had no income taxes payable at December 31, 2002 and
       2001.  The Company has deferred tax assets at December 31, 2002
       and 2001 of $-0- and $23 respectively.  At December 31, 2002, the
       Company had a net federal operating loss (NOL) of $70,310, which
       can be carried forward to offset operating income.  The Company's
       NOL will expire between 2022 and 2020. Valuation allowances of
       $12,578 and $4,003 have been established for deferred tax assets
       associated with the above NOL for 2002 and 2001, and for the
       amortizing of organization costs for tax purposes for the year
       ended December 31, 2001.  The change in the valuation allowances
       for 2002 and 2001 was $8,575 and $3,123.

  NOTE    5  -  NOTE PAYABLE AND SHORT TERM ADVANCES

       During 1999, a business advanced $6,100 to the Company.  The
       advance was unsecured and non-interest bearing and was repaid in
       February of 2000.  Through December 31, 2002, a stockholder has
       advance $16,450 to the Company on an unsecured basis. The loan is
       due upon demand and carries interest at 10% per annum.

  NOTE   6  -  LOSS ON SALE OF INVENTORY

       During the second quarter ending June 30, 2002, the Board of
       Directors approved that the management of the Company sell its
       inventory of investment champagne, as soon as possible, for the
       highest price it could obtain.  The champagne was invested in
       speculation of expected high demand for champagne for the
       celebration of the new millennium on December 31, 1999 and January
       1, 2000.  It turned out that there was an oversupply of champagne
       and management felt the Corporation should liquidate its
       investment in the champagne to recoup whatever may be obtained
       from the sell of the champagne.  The Corporation entered into an
       agreement with a stockholder wherein the Corporation authorized
       the stockholder to liquidate the champagne on behalf of the
       Corporation.  This was done and the champagne was sold to a third
       party buyer for $11,882 for a loss on sale of $36,018.





                                 7

<PAGE>