**UNITED STATES**

**Form 10-KSB**

X...ANNUAL REPORT UNDER SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended June 30, 2003.

....TRANSITION REPORT UNDER SECTION 13 or 15(d)
OF THE SECURITIES EXCHANGE ACT

For the transition period from _____ to _____.

**TABATHA V, INC.**

|Colorado                                       | 0-31767                  | 84-1536521                          
|---------------------------------------------- | ------------------------ | ------------------------------------
|(State or other jurisdiction of
incorporation) | (Commission File Number) | (IRS Employer Identification
Number)

|1926 S. Oswego Way 
Aurora, Colorado     | 80014     
|---------------------------------------- | ----------
|(Address of principal executive offices) | (Zip Code)

Issuer's telephone number:   (303) 752-4637

Securities to be registered under Section 12(b) of the Act:

Title of each class

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

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

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

State issuer's revenue for its most recent fiscal year: $  -0-

State the aggregate market value of the voting stock held by non-affiliates computed by reference to the
price at which the stock was sold, or the average bid and asked priced of such stock, as of a specified date
within the past 60 days (See definition of affiliate in Rule 12b-2): -0-

Note: If determining whether a person is an affiliate will involve an unreasonable effort and expense, the
issuer may calculate the aggregate market value of the common equity held by non-affiliates on the basis of
reasonable assumptions, if the assumptions are stated.

(Issuers involved in bankruptcy proceedings during the past five years):

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

(Applicable only to corporate registrants) State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date:9,962,500as of June 30, 2003.

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



---

ITEM 1.        	DESCRIPTION OF BUSINESS.

General

The Company was incorporated under the laws of the State of Colorado on March 17, 2000, and is in the
early developmental and promotional stages.  To date, the Company's only activities have been
organizational ones, directed at developing its business plan and raising its initial capital. The Company
has not commenced any commercial operations. The Company has no full-time employees, and owns no
real estate. To date, the Company's only activities have been organizational ones, directed at developing its
business plan and raising its initial capital. The Company has not commenced any commercial operations.
The Company has no full-time employees and owns no real estate. As of the end of its fiscal year June 30,
2003, the Company had not identified any business opportunity that it planned to pursue, nor had the
Company reached any agreement or definitive understanding with any person concerning an acquisition. No
assurance can be given that the Company will be successful in finding or acquiring a desirable business
opportunity, given the limited funds that are expected to be available for acquisitions, or that any
acquisition that occurs will be on terms that are favorable to the Company or its stockholders. The
Company's search has been directed toward enterprises which have a desire to be become a public
corporation and which have a business plan designed to allow them to take advantage of opportunities
available to public entities. This includes entities which have been recently organized, with no operating
history, or a history of losses attributable to under-capitalization or other factors, entities in need of funds
to develop a new product or service or to expand into a new market, entities which desire to use their
securities to make acquisitions, and entities which have a combination of these characteristics. In searching
for investment opportunities, the Company is not restricted to any particular geographical area or industry.
Therefore, subject to economic conditions, limitations on its ability to locate available business
opportunities, and other factors, the Company has substantial discretion in selecting an appropriate
business opportunity. In connection with any acquisition, it is highly likely that an amount of stock
constituting control of the Company would be issued by the Company or purchased from the Company's
current principal shareholders by the target entity or its controlling shareholders.

Other Entities

The officers, directors and principal shareholders of the Company are also the officers, directors and
principal shareholders of three other corporations which were formed at the same time as the Company.
Each of these other corporations has the same business plan as the Company.

Investigation and Selection of Business Opportunities

To a large extent, a decision to participate in a specific business opportunity may be made upon
management's analysis of the quality of the other company's management and personnel, the anticipated
acceptability of new products or marketing concepts, the merit of technological changes, and numerous
other factors which are difficult, if not impossible, to analyze through the application of any objective
criteria. In many instances, it is anticipated that the historical operations of a specific firm may not
necessarily be indicative of the potential for the future because of the possible need to shift marketing
approaches substantially, expand significantly, change product emphasis, change or substantially augment
management, or make other changes. Because the Company may participate in a business opportunity with
a newly organized firm or with a firm which is entering a new phase of growth, it should be emphasized
that the Company will incur further risks, because management in many instances will not have proved its
abilities or effectiveness, the eventual market for such company's products or services will likely not be
established, and such company may not be profitable when acquired. It is anticipated that the Company
will not be able to diversify, but will essentially be limited to one such venture because of the Company's
limited financing. This lack of diversification will not permit the Company to offset potential losses from
one business opportunity against profits from another, and should be considered an adverse factor affecting
any decision to purchase the Company's securities. It is emphasized that management of the Company may
effect transactions having a potentially adverse impact upon the Company's shareholders pursuant to the
authority and discretion of the Company's management to complete acquisitions without submitting any
proposal to the stockholders for their consideration. Company management does not generally anticipate
that it will provide holders of the Company's securities with financial statements, or any other
documentation, concerning a target company or its business prior to any merger or acquisition.  In some
instances, however, the proposed participation in a business opportunity may be submitted to the
stockholders for their consideration, either voluntarily by Company management which elects to seek the
stockholders' advice and consent, or because state law so requires.  The analysis of business opportunities
will be undertaken by or under the supervision of the Company's executive officers and directors.  Although
there are no current plans to do so, Company management might hire an outside consultant to assist in the
investigation and selection of business opportunities, and in that event, might pay a finder's fee.  Since
Company management has no current plans to use any outside consultants or advisors to assist in the
investigation and selection of business opportunities, no policies have been adopted regarding use of such
consultants or advisors, the criteria to be used in selecting such consultants or advisors, the services to be
provided, the term of service, or regarding the total amount of fees that may be paid. However, because of
the limited resources of the Company, it is likely that any such fee the Company agrees to pay would be
paid in stock and not in cash. Otherwise, the Company anticipates that it will consider, among other things,
the following factors:

> (1)        
> Potential for growth and profitability, indicated by new technology, anticipated market
> expansion, or new products;
> 
> 
>   (2)        Strength and diversity of existing management, or management prospects that are
> scheduled for recruitment;
>   (3)         Capital requirements and anticipated availability of required funds, to be provided from
> operations, through the sale of additional securities, through joint ventures or similar
> arrangements, or from other sources;
>   (4)        The Company's perception of how any particular business opportunity will be received by
> the investment community and by the Company's stockholders;
> 
> 
> (5)        
> The availability of audited financial statements for the business opportunity; and
> 
> 
>   (6)        
>  Whether, following the business combination, the financial condition of the business
> opportunity would be, or would have a significant prospect in the foreseeable future of
> becoming sufficient to enable the securities of the Company to qualify for listing on an
> exchange or on a national automated securities quotation system, such as NASDAQ.

No one of the factors described above will be controlling in the selection of a business opportunity, and
management will attempt to analyze all factors appropriate to the opportunity and make a determination
based upon reasonable investigative measures and available data. Potential investors must recognize that,
because of the Company's limited capital available for investigation and management's limited experience
in business analysis, the Company may not discover or adequately evaluate adverse facts about the
opportunity to be acquired. The Company is unable to predict when it may participate in a business
opportunity and it has not established any deadline for completion of a transaction. It expects, however,
that the process of seeking candidates, analysis of specific proposals and the selection of a business
opportunity may require several additional months or more. Company management believes that various
types of potential merger or acquisition candidates might find a business combination with the Company to
be attractive. These include acquisition candidates desiring to create a public market for their shares in
order to enhance liquidity for current shareholders, acquisition candidates which have long-term plans for
raising equity capital through the public sale of securities and believe that the possible prior existence of a
public market for their securities would be beneficial, and acquisition candidates which plan to acquire
additional assets through issuance of securities rather than for cash, and believe that the possibility of
development of a public market for their securities will be of assistance in that process. Acquisition
candidates which have a need for an immediate cash infusion are not likely to find a potential business
combination with the Company to be an attractive alternative.

Form of Acquisition

It is impossible to predict the manner in which the Company may participate in a business opportunity.
Specific business opportunities will be reviewed as well as the respective needs and desires of the Company
and the promoters of the opportunity and, upon the basis of that review and the relative negotiating strength
of the Company and such promoters, the legal structure or method deemed by management to be suitable
will be selected. Such structure may include, but is not limited to leases, purchase and sale agreements,
licenses, joint ventures and other contractual arrangements. The Company may act directly or indirectly
through an interest in a partnership, corporation or other form of organization. Implementing such structure
may require the merger, consolidation or reorganization of the Company with other corporations or forms
of business organization. In addition, the present management and stockholders of the Company most likely
will not have control of a majority of the voting shares of the Company following a reorganization
transaction. As part of such a transaction, the Company's directors may resign and new directors may be
appointed without any vote by stockholders. It is likely that the Company will acquire its participation in a
business opportunity through the issuance of Common Stock or other securities of the Company. Although
the terms of any such transaction cannot be predicted, it should be noted that in certain circumstances the
criteria for determining whether or not an acquisition is a so-called "tax free" reorganization under the
Internal Revenue Code of 1986, depends upon the issuance to the stockholders of the acquired company of
up to 80% of the common stock of the combined entities immediately following the reorganization. If a
transaction were structured to take advantage of these provisions rather than other "tax free" provisions
provided under the Internal Revenue Code, the Company's stockholders in such circumstances would retain
in the aggregate 20% or less of the total issued and outstanding shares. This could result in substantial
additional dilution in the equity of those who were stockholders of the Company prior to such
reorganization. Any such issuance of additional shares might also be done simultaneously with a sale or
transfer of shares representing a controlling interest in the Company by the current officers, directors and
principal shareholders. (See "Description of Business - General").  It is anticipated that any securities
issued in any reorganization would be issued in reliance upon exemptions, if any are available, from
registration under applicable federal and state securities laws. In some circumstances, however, as a
negotiated element of the transaction, the Company may agree to register such securities either at the time
the transaction is consummated, or under certain conditions at specified times thereafter. The issuance of
substantial additional securities and their potential sale into any trading market that might develop in the
Company's securities may have a depressive effect upon such market. The Company will participate in a
business opportunity only after the negotiation and execution of a written agreement. Although the terms of
such agreement cannot be predicted, generally such an agreement would require specific representations
and warranties by all of the parties thereto, specify certain events of default, detail the terms of closing and
the conditions which must be satisfied by each of the parties thereto prior to such closing, outline the
manner of bearing costs if the transaction is not closed, set forth remedies upon default, and include
miscellaneous other terms. Competition The Company expects to encounter substantial competition in its
efforts to locate attractive opportunities, primarily from business development companies, venture capital
partnerships and corporations, venture capital affiliates of large industrial and financial companies, small
investment companies, and wealthy individuals. Many of these entities will have significantly greater
experience, resources and managerial capabilities than the Company and will therefore be in a better
position than the Company to obtain access to attractive business opportunities. The Company also will
experience competition from other public "blind pool" companies, many of which may have more funds
available than does the Company.

Administrative Offices

The Company currently maintains a mailing address at 1926 S. Oswego Way, Aurora, Colorado 80014,
which is the office address of its Secretary. The Company's telephone number there is (303) 752-4637.
Other than this mailing address, the Company does not currently maintain any other office facilities, and
does not anticipate the need for maintaining office facilities at any time in the foreseeable future. The
Company pays no rent or other fees for the use of this mailing address.

Employees

The Company is a development stage company and currently has no employees. Management of the
Company expects to use consultants, attorneys and accountants as necessary, and does not anticipate a
need to engage any full-time employees so long as it is seeking and evaluating business opportunities. The
need for employees and their availability will be addressed in connection with the decision whether or not to
acquire or participate in specific business opportunities. No remuneration will be paid to the Company's
officers except as set forth under "Executive Compensation" and under "Certain Relationships and Related
Transactions."

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.

Except for historical matters, the matters discussed in this Form 10-KSB are forward-looking statements
based on current expectations, and involve risks and uncertainties. Forward-looking statements include, but
are not limited to, statements under the following headings:

> (i)        
> "Description of Business - General" - the general description of the Company's plan to
> seek a merger or acquisition candidate, and the types of business opportunities that may be
> pursued.
> 
> 
> (ii)        "Description of Business - Investigation and Selection of Business Opportunities" - the
> steps which may be taken to investigate prospective business opportunities, and the factors
> which may be used in selecting a business opportunity.
> 
> (iii)        "Description of Business - Form of Acquisition" - the manner in which the Company may
> participate in a business acquisition. The Company wishes to caution the reader that there
> are many uncertainties and unknown factors which could affect its ability to carry out its
> business plan in the manner described herein.

ITEM 2.        DESCRIPTION OF PROPERTY.

The Company currently maintains a mailing address at 1926 S. Oswego Way, Aurora, Colorado 80014,
which is the address of its Secretary. The Company pays no rent for the use of this mailing address,
however, for financial statement purposes, the Company is accruing $50 per month as additional paid-in
capital for this use. The Company does not believe that it will need to maintain an office at any time in the
foreseeable future in order to carry out its plan of operations described herein. The Company's telephone
number is (303) 752-4637. The Company currently has no investments in real estate, real estate mortgages,
or real estate securities, and does not anticipate making any such investments in the future. However, the
policy of the Company with respect to investment in real estate assets could be changed in the future
without a vote of security holders.

ITEM 3.        LEGAL PROCEEDINGS. The Company is not a party to any pending legal proceedings,
and no such proceedings are known to be contemplated. No director, officer or affiliate of the Company,
and no owner of record or beneficial owner of more than 5.0% of the securities of the Company, or any
associate of any such director, officer or security holder is a party adverse to the Company or has a
material interest adverse to the Company in reference to pending litigation.

ITEM 4.        
SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.No matters
were submitted to a vote of the security holders of the Company during the fourth quarter of the fiscal year
which ended June 30, 2003.

Part II

ITEM 5.        
MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.
There is not currently a public trading market for the Company's securities. Such securities are currently
held of record by a total of approximately 35 persons. No dividends have been declared or paid on the
Company's securities, and it is not anticipated that any dividends will be declared or paid in the foreseeable
future.

**ITEM 6.        
MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.**
Liquidity and Capital Resources As of June 30, 2003, the Company remains in the development stage. For
the fiscal year ended June 30, 2003, the Company's balance sheet reflects current and total assets of
$2,169, in the form of cash and cash equivalents, and current liabilities of $0. The Company will carry out
its plan of business as discussed above. The Company cannot predict to what extent its liquidity and capital
resources will be diminished prior to the consummation of a business combination or whether its capital
will be further depleted by the operating losses (if any) of the business entity which the Company may
eventually acquire.

Results of Operations

During the period from March 17, 2000 (inception) through June 30, 2003, the Company has engaged in
no significant operations other than organizational activities, acquisition of capital and preparation and
filing of its registration statement on Form 10-SB under the Securities Exchange Act of 1934, as amended,
compliance with its periodical reporting requirements and initial efforts to locate a suitable merger or
acquisition candidate. No revenues were received by the Company during this period.

Plan of Operations

For the fiscal year ending June 30, 2004, the Company expects to continue its efforts to locate a suitable
business acquisition candidate and thereafter to complete a business acquisition transaction. The Company
anticipates incurring a loss for the fiscal year as a result of expenses associated with compliance with the
reporting requirements of the Securities Exchange Act of 1934, and expenses associated with locating and
evaluating acquisition candidates.  The Company does not expect to generate revenues until it completes a
business acquisition, and, depending upon the performance of the acquired business, it may also continue to
operate at a loss after completion of a business combination.

Need for Additional Financing

During the fiscal year ending June 30, 2004, the Company plans to continue with efforts to seek,
investigate, and, if warranted, acquire one or more properties or businesses. The Company also plans to file
all required periodical reports and to maintain its status as a fully-reporting Company under the Securities
Exchange Act of 1934. In order to proceed with its plans for the next year, it is anticipated that the
Company will require additional capital in order to meet its cash needs. These include the costs of
compliance with the continuing reporting requirements of the Securities Exchange Act of 1934, as
amended, as well as any costs the Company may incur in seeking business opportunities. No specific
commitments to provide additional funds have been made by management or other stockholders, and the
Company has no current plans, proposals, arrangements or understandings with respect to the sale or
issuance of additional securities prior to the location of a merger or acquisition candidate. Accordingly,
there can be no assurance that any additional funds will be available to the Company to allow it to cover its
expenses. Notwithstanding the foregoing, to the extent that additional funds are required, the Company
anticipates receiving such funds in the form of advancements from current shareholders without issuance of
additional shares or other securities, or through the private placement of restricted securities rather than
through a public offering. The Company may also seek to compensate providers of services by issuances of
stock in lieu of cash. For information as to the Company's policy in regard to payment for consulting
services, see "Certain Relationships and Transactions."

ITEM 7.        FINANCIAL STATEMENTS.

See following pages.



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Tabatha V, Inc.

(A Development Stage Company)

|Report of Independent Public Accountants | F-1
|---------------------------------------- | ---
|Balance Sheet                            | F-2
|Statements of Operations                 | F-3
|Statement of Stockholders' Equity        | F-4
|Statements of Cash Flows                 | F-5
|Notes to Financial Statements            | F-6



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**REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS**

The Board of Directors and Stockholders ofTabatha V, Inc.

We have audited the accompanying balance sheet of Tabatha V, Inc. (a development stage company) as of June
30, 2003, and the related statements of operations, stockholders'' equity, and cash flows for the years ended
June 30, 2003 and 2002, and for the period from inception (March 17, 2000)  to June 30, 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 audits.

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 audits 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 Tabatha V, Inc. as of June 30, 2003, and the results of its operations and cash flows for the years
ended June 30, 2003 and 2002, and for the period from inception (March 17, 2000) to June 30, 2003, in
conformity with accounting principles generally accepted in the United States of America.

|Denver, ColoradoMay 10, 2004 | Comiskey & Company******PROFESSIONAL CORPORATION**
|---------------------------- | --------------------------------------------------

F-1



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******Tabatha V, Inc.**

**(A Development Stage Company)**

**BALANCE SHEET**

**June 30, 2003**

|                                     | **ASSETS**                                              |                                                                   |                                |                           
|------------------------------------ | ------------------------------------------------------- | ----------------------------------------------------------------- | ------------------------------ | --------------------------
|                                     |                                                         |                                                                   |                                |                           
|***CURRENT ASSETS*****               |                                                         |                                                                   |                               
|                                     | **************Cash and cash equivalents                 |                                                                   |                                | $                    1,866
|                                     | Other receivable                                        |                                                                   |                                | 303                       
|                                     |                                                         |                                                                   |                                |                           
|                                     |                                                         | ******Total current assets**                                      | ****                           |                           
|                                     |                                                         |                                                                   |                                |                           
|                                     |                                                         | ****************TOTAL ASSETS                                      | ****                           |                           
|                                     |                                                         |                                                                   |                                |                           
|                                     |                                                         |                                                                   |                                |                           
|                                     |                                                         |                                                                   |                                |                           
|                                     | LIABILITIES AND STOCKHOLDERS' EQUITY                    |                                                                   |                                |                           
|                                     |                                                         |                                                                   |                                |                           
|***CURRENT LIABILITIES*****          |                                                         |                                                                   | $                            -
|                                     |                                                         |                                                                   |                                |                           
|                                     |                                                         |                                                                   |                                |                           
|**************STOCKHOLDERS' EQUITY** |                                                         |                                                                   |                               
|                                     | **************Preferred stock, no par value; 10,000,000 |                                                                   |                                |                           
|                                     |                                                         | **************shares authorized; no shares issued and outstanding |                                | -                         
|                                     | Common stock, no par value; 100,000,000                 |                                                                   |                                |                           
|                                     |                                                         | shares authorized; 9,962,500 shares issued and                    |                                |                           
|                                     |                                                         | outstanding at June 30, 2003                                      |                                |                           
|                                     | Deficit accumulated during the development              |                                                                   |                                |                           
|                                     |                                                         | stage                                                             |                                |                           
|                                     |                                                         |                                                                   |                                |                           
|                                     |                                                         |                                                                   |                                |                           
|                                     |                                                         |                                                                   |                                |                           
|                                     |                                                         | ******TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY**                |                                | $                    2,169

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

F-2



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**Tabatha V, Inc.**

**(A Development Stage Company)**

**STATEMENTS OF OPERATIONS**

|                               |                                             |                               |                               | **For the period**              | ****                           |                 
|------------------------------ | ------------------------------------------- | ----------------------------- | ----------------------------- | ------------------------------- | ------------------------------ | ----------------
|                               |                                             |                               |                               | **from inception**              | **For the year**               | **For the year**
|****                           |                                             |                               |                               | **(March 17, 2000)**            | **ended**                      | **ended**       
|****                           |                                             |                               |                               | **to June 30,**                 | **June 30,**                   | **June 30,**    
|****                           |                                             |                               |                               | **2003**                        | **2003**                       | **2002**        
|**REVENUES**                   |                                             |                               |                               |                                
|                               | Interest income                             |                               | $                         238 | $                             4 | $                           39
|                               |                                             |                               |                               |                                 |                                |                 
|**EXPENSES**                   |                                             |                               |                               |                                
|                               | ********Selling, general and administrative |                               | 43,525                        | -                               | -                             
|                               | ********Accounting                          |                               | 4,649                         | 1,753                           | 1,617                         
|                               | ********Legal                               |                               | 3,628                         | 33                              | 951                           
|                               | ********Rent                                |                               | 1,950                         | 600                             | 600                           
|                               | ********Office supplies                     |                               | 892                           | -                               | 284                           
|                               | Non-cash compensation                       |                               | 13,300                        | -                               | -                             
|                               |                                             |                               |                               |                                 |                                |                 
|                               |                                             | Total expenses                |                               | 67,944                          | 2,386                          | 3,452           
|                               |                                             |                               |                               |                                 |                                |                 
|**NET LOSS**                   |                                             | (67,706)                      | (2,382)                       | (3,413)                        
|                               |                                             |                               |                               |                                 |                                |                 
|Accumulated deficit            |                                             |                               |                               |                                
|                               |                                             |                               |                               |                                 |                                |                 
|                               | Balance, beginning of period                |                               | -                             | (65,324)                        | (61,911)                      
|                               |                                             |                               |                               |                                 |                                |                 
|                               | Balance, end of period                      |                               | $                  (67,706)   | $                  (67,706)     | $                  (65,324)   
|                               |                                             |                               |                               |                                 |                                |                 
|**NET LOSS PER SHARE**         |                                             | $                      (0.01) | $                    (NIL)    | $                    (NIL)     
|                               |                                             |                               |                               |                                 |                                |                 
|**WEIGHTED AVERAGE NUMBER OF** |                                             |                               |                               |                                
|**SHARES OUTSTANDING**         |                                             | 9,962,500                     | 9,962,500                     | 9,962,500                      

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

F-3



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**Tabatha V, Inc.**

**(A Development Stage Company)**

**STATEMENT OF STOCKHOLDERS' EQUITY**

**For the initial period from inception (March 17, 2000) to June 30, 2003**

|                                  |                                    |             |                |                                               |                    | **********Deficit**         | ****         
|--------------------------------- | ---------------------------------- | ----------- | -------------- | --------------------------------------------- | ------------------ | --------------------------- | -------------
|                                  |                                    |             |                |                                               |                    | **************accumulated** | **Total**    
|****                              |                                    |             | **Price**      | **Common stock        
          during the** | **stockholders'** 
|****                              |                                    |             | **per**        | **Number of**                                 | ****               | **development**             | **equity**   
|****                              |                                    |             | **share**      | **shares**                                    | **Amount**         | **stage**                   | **(deficit)**
|****Common stock issued for cash, |                                    |             |                |                                               |                   
|                                  | March 1, 2000                      | $     0.005 | 900,000        | $         4,500                               | $                - | $         4,500            
|                                  |                                    |             |                |                                               |                    |                             |              
|Common stock issued for services, |                                    |             |                |                                               |                   
|                                  | March 1, 2000                      | 0.005       | 8,100,000      | 40,500                                        | -                  | 40,500                     
|                                  |                                    |             |                |                                               |                    |                             |              
|Common stock issued for services, |                                    |             |                |                                               |                   
|                                  | April 1, 2000                      | 0.01        | 300,000        | 3,000                                         | -                  | 3,000                      
|                                  |                                    |             |                |                                               |                    |                             |              
|Common stock issued for cash,     |                                    |             |                |                                               |                   
|                                  | April 3, 2000 through May 30, 2000 | 0.01        | 660,000        | 6,600                                         | -                  | 6,600                      
|                                  |                                    |             |                |                                               |                    |                             |              
|Common stock issued for services, |                                    |             |                |                                               |                   
|                                  | May 18, 2000                       | 0.01        | 2,500          | 25                                            | -                  | 25                         
|                                  |                                    |             |                |                                               |                    |                             |              
|Rent at no charge                 |                                    | -           | 150            | -                                             | 150               
|                                  |                                    |             |                |                                               |                    |                             |              
|Net loss for the period ended     |                                    |             |                |                                               |                   
|June 30, 2000                     |                                    | -           | -              | (44,766)                                      | (44,766)          
|                                  |                                    |             |                |                                               |                    |                             |              
|Balance, June 30, 2000            |                                    | 9,962,500   | 54,775         | (44,766)                                      | 10,009            
|                                  |                                    |             |                |                                               |                    |                             |              
|Common stock warrants issued      |                                    |             |                |                                               |                   
|                                  | for services, December 4, 2000     |             | -              | 13,300                                        | -                  | 13,300                     
|                                  |                                    |             |                |                                               |                    |                             |              
|Rent at no charge                 |                                    | -           | 600            | -                                             | 600               
|                                  |                                    |             |                |                                               |                    |                             |              
|Net loss for the year ended       |                                    |             |                |                                               |                   
|June 30, 2001                     |                                    | -           | -              | (17,145)                                      | (17,145)          
|                                  |                                    |             |                |                                               |                    |                             |              
|Balance, June 30, 2001            |                                    | 9,962,500   | 68,675         | (61,911)                                      | 6,764             
|                                  |                                    |             |                |                                               |                    |                             |              
|Rent at no charge                 |                                    | -           | 600            | -                                             | 600               
|                                  |                                    |             |                |                                               |                    |                             |              
|Net loss for the year ended       |                                    |             |                |                                               |                   
|June 30, 2002                     |                                    | -           | -              | (3,413)                                       | (3,413)           
|                                  |                                    |             |                |                                               |                    |                             |              
|Balance, June 30, 2002            |                                    | 9,962,500   | 69,275         | (65,324)                                      | 3,951             
|                                  |                                    |             |                |                                               |                    |                             |              
|Rent at no charge                 |                                    | -           | 600            | -                                             | 600               
|                                  |                                    |             |                |                                               |                    |                             |              
|Net loss for the year ended       |                                    |             |                |                                               |                   
|June 30, 2003                     |                                    | -           | -              | (2,382)                                       | (2,382)           
|                                  |                                    |             |                |                                               |                    |                             |              
|Balance, June 30, 2003            |                                    | 9,962,500   | $       69,875 | $      (67,706)                               | $         2,169   

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

F-4



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**Tabatha V, Inc.**

**(A Development Stage Company)**

**STATEMENTS OF CASH FLOWS**

|                                         |                          |                                 |                              |                                          | **For the period**     | ****             |                 
|---------------------------------------- | ------------------------ | ------------------------------- | ---------------------------- | ---------------------------------------- | ---------------------- | ---------------- | ----------------
|                                         |                          |                                 |                              |                                          | **from inception**     | **For the year** | **For the year**
|****                                     |                          |                                 |                              |                                          | **(March 17, 2000)**   | **ended**        | **ended**       
|****                                     |                          |                                 |                              |                                          | **to June 30,**        | **June 30,**     | **June 30,**    
|****                                     |                          |                                 |                              |                                          | **2003**               | **2003**         | **2002**        
|**CASH FLOWS FROM OPERATING ACTIVITIES** |                          |                                 |                             
|                                         | Net loss                 | $             (67,706)          | $               (2,382)      | $               (3,413)                 
|                                         | Adjustments to reconcile |                                 |                              |                                         
|                                         |                          | net loss to net cash flows from |                              |                                          |                       
|                                         |                          | operating activities:           |                              |                                          |                       
|                                         |                          |                                 | Rent expense                 | 1,950                                    | 600                    | 600             
|                                         |                          |                                 | Stock issued for services    | 43,525                                   | -                      | -               
|                                         |                          |                                 | Warrants issued for services | 13,300                                   | -                      | -               
|                                         |                          |                                 | Increase in other receivable | (303)                                    | (303)                  | -               
|                                         |                          |                                 |                              |                                          |                        |                  |                 
|                                         |                          |                                 |                              | Net cash flows from operating activities | (9,234)                | (2,085)          | (2,813)         
|                                         |                          |                                 |                              |                                          |                        |                  |                 
|**CASH FLOWS FROM INVESTING ACTIVITIES** | -                        | -                               | -                           
|                                         |                          |                                 |                              |                                          |                        |                  |                 
|**CASH FLOWS FROM FINANCING ACTIVITIES** |                          |                                 |                             
|                                         | Issuance of common stock | 11,100                          | -                            | -                                       
|                                         |                          |                                 |                              |                                          |                        |                  |                 
|                                         |                          |                                 |                              | Net cash flows from financing activities | 11,100                 | -                | -               
|                                         |                          |                                 |                              |                                          |                        |                  |                 
|**NET INCREASE (DECREASE) IN CASH**      |                          |                                 |                             
|                                         |                          | **AND CASH EQUIVALENTS**        | 1,866                        | (2,085)                                  | (2,813)               
|                                         |                          |                                 |                              |                                          |                        |                  |                 
|**********CASH AND CASH EQUIVALENTS,**   |                          |                                 |                             
|                                         |                          | ******BEGINNING OF PERIOD**     | -                            | 3,951                                    | 6,764                 
|                                         |                          |                                 |                              |                                          |                        |                  |                 
|**********CASH AND CASH EQUIVALENTS,**   |                          |                                 |                             
|                                         |                          | ******END OF PERIOD**           | $                1,866       | $                1,866                   | $                3,951

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

F-5



---

**Tabatha V, Inc.**

**(A Development Stage Company)**

**NOTES TO FINANCIAL STATEMENTS**

**June 30, 2003**

******1.        
Summary of Significant Accounting Policies**

**Consideration of Other Comprehensive Income Items**

SFAS 130 - Reporting Comprehensive Income, requires companies to present comprehensive income
(consisting primarily of net income plus other direct equity changes and credits) and its components as part
of the basic financial statements.  For the year ended June 30, 2003, the Company's financial statements do
not contain any changes in equity that are required to be reported separately in comprehensive income.

**Stock Basis**

Shares of common stock issued for other than cash have been assigned amounts equivalent to the fair value
of the service or assets received in exchange.

**Impairment or Disposal of Long-Lived Assets**

In August 2001, the FASB issued Statement No. 144, "Accounting for the Impairment or Disposal of
Long-Lived Assets" ("FAS 144"). FAS 144 clarifies the accounting for the impairment of long-lived assets
and for long-lived assets to be disposed of, including the disposal of business segments and major lines of
business.  The Company has implemented FAS 144 for this fiscal year.  Long-lived assets are reviewed
when facts and circumstances indicate that the carrying value of the asset may not be recoverable.  When
necessary, impaired assets are written down to estimated fair value based on the best information available.
Estimated fair value is generally based on either appraised value or measured by discounting estimated
future cash flows.  Considerable management judgment is necessary to estimate discounted future cash
flows.  Accordingly, actual results could vary significantly from such estimates.

No impairment was recorded in the fiscal year ending June 30, 2003.

******2.	Stockholders' Equity**

As of June 30, 2003, 100,000,000 shares of the Company's no par value common stock had been
authorized, of which 9,962,500 were issued and outstanding.

The Company is authorized to issue up to 10,000,000 shares of preferred stock, in series, as determined by
the Board of Directors.  As of June 30, 2003, no preferred shares have been designated or issued.

Warrants to purchase 2,660,000 shares of common stock at $0.05 per share were issued on December 4,
2000.  The warrants were issued for services valued at $13,300.  The warrants expire December 3, 2004.
Subsequent to the end of the year, all warrants were surrendered and canceled by the Company.

**3.        Related Party Transactions**

As of the date hereof, officers and directors of the Company are the owners of 6,310,000 shares of its
issued and outstanding common stock, constituting approximately 63% of the Company's issued and
outstanding common stock.  The shares were issued for cash and services from $0.005 per share.

Officers and directors are reimbursed for all out-of-pocket expenses.

Rent is being provided to the Company at no charge.  For purposes of the financial statements, the
Company is accruing $50 per month as common stock for this use.

**4.        Income Taxes**

The Company has Federal net operating loss carryforwards of approximately $68,000 expiring between the
years 2019 through 2022.  The tax benefit of these net operating losses is approximately $13,000 and has
been offset by a full allowance for realization.  For the year ended June 30, 2003, the allowance increased
by $470.  This carryforward may be limited upon consummation of a business combination under IRC
Section 381.

F-6



---

**ITEM  8A.        
CONTROLS AND PROCEDURES**.

The Securities and Exchange Commission defines the term disclosure controls and procedures to
mean a company's controls and other procedures that are designed to ensure that information required to be
disclosed in the reports that it files or submits under the Securities Exchange Act of 1934 is recorded,
processed, summarized and reported, within the time periods specified in the Securities and Exchange
Commissions rules and forms.   The Company maintains such a system of controls and procedures in an
effort to ensure that all information which it is required to disclose in the reports it files under the Securities
Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified
under the SEC's rules and forms.

Based on an evaluation performed, the Company's certifying officers have concluded that the
disclosure controls and procedures were effective as of June 30, 2003, to provide reasonable assurance of
the achievement of these objectives.

There was no change in the Company's internal control over financial reporting during the fiscal
year ended June 31, 2003, that has materially affected, or is reasonably likely to materially affect, the
Company's internal control over financial reporting.

PART III

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

The directors and executive officers currently serving the Company are as follows:

|Name         | Age | Positions Held and Tenure                                         
|------------ | --- | ------------------------------------------------------------------
|John Ballard | 45  | President, Chief Financial Officer and a Director since April 2004
|Diane Thelen | 57  | Secretary, Treasurer, and a Director since  March 2000            

The directors named above will serve until the next annual meeting of the Company's stockholders.
Thereafter, directors will be elected for one-year terms at the annual stockholders' meeting.  Officers will
hold their positions at the pleasure of the board of directors, absent any employment agreement, of which
none currently exists or is contemplated.  There is no arrangement or understanding between any of the
directors or officers of the Company and any other person pursuant to which any director or officer was or
is to be selected as a director or officer.

The directors and officers will devote their time to the Company's affairs on an "as needed" basis,
which, depending on the circumstances, could amount to as little as two hours per month, or more than
forty hours per month, but more than likely will fall within the range of five to ten hours per month.

Biographical Information

******John Ballard, Chief Financial Officer**

John Ballard has more than fifteen years of business management, project management, and accounting
experience. From January 2002 to the present, Mr. Ballard has been a financial consultant and director of
Reveal Systems, Inc., a software development company and internet provider based in Longmont,
Colorado. Mr. Ballard was the Chief Financial Officer of Call Solutions Inc., a publicly traded company,
from October 1999 to November 2002. Call Solutions was in the business of opening call centers. Mr.
Ballard, from 1997-1999 owned and operated food operations, Cookies N Kreme and Lincoln Street Cafe
in the Denver Metropolitan Area.  In 1993, Mr. Ballard retired and he traveled until 1997.  From 1988 to
1993, Mr. Ballard was Chief Financial Officer for Apple Sundries, Inc., a Denver retail chain. Since 1999,
Mr. Ballard has been a major shareholder, owning 10% or more, and a consultant in three other blank
check companies,  Tabatha I, Inc.,  Tabatha II, Inc., and Tabatha IV, Inc. Mr. Ballard holds a Bachelor of
Science Degree in Management and Marketing from the University of Colorado where he graduated Magna
Cum Laude. Mr. Ballard also holds a Masters of Business in Administration from Regis University.

**Diane Thelen, Secretary/Treasurer and a director**

Diane Thelen, the Company's Secretary/Treasurer and a director, has managed and developed luxury high-rise residential, retail, industrial and large office building complexes for over twenty-two years. She has
written numerous articles on safety issues regarding large office complexes, as well as articles advocating
the needs of real estate managers to state legislators. Ms. Thelen is an officer and director of three other
corporations which were incorporated on March 17, 2000, and which were formed to seek acquisitions. She
is the Secretary/Treasurer of Tabatha I, Inc. Tabatha II, Inc., and Tabatha  IV, Inc. Ms. Thelen is a
Certified Property Manager (CPM) (Institute of Real Estate Management) and a Real Property
Administrator (RPA) (Building Owners and Managers Association.)

Compliance With Section 16(a) of the Exchange Act.

For the fiscal year ending June 30, 2003, all of the company's officers, directors and principal
shareholders are delinquent in filing reports required under Section 16(a).

ITEM 10.         EXECUTIVE COMPENSATION.

No officer or director received any remuneration from the Company during the fiscal year.  Until
the Company acquires additional capital, it is not intended that any officer or director will receive
compensation from the Company other than reimbursement for out-of-pocket expenses incurred on behalf
of the Company.  See "Certain Relationships and Related Transactions."  The Company has no stock
option, retirement, pension, or profit-sharing programs for the benefit of directors, officers or other
employees, but the Board of Directors may recommend adoption of one or more such programs in the
future.

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

The following table sets forth, as of the end of the Company's most recent fiscal year, the number
of shares of Common Stock owned of record and beneficially by executive officers, directors and persons
who hold 5.0% or more of the outstanding Common Stock of the Company.  Also included are the shares
held by all executive officers and directors as a group.

|Name and Address                                                    | Number of Shares Owned
Beneficially | Percent of Class Owned
|------------------------------------------------------------------- | ----------------------------------- | ----------------------
|Robert L. SmithP.O. Box 1554Idaho Springs, CO 80452                 | 3,000,000                           | 30.11%                
|Kip Pedrie  (1)5873 S. Kenton WayEnglewood, CO 80111-3950           | 3,000,000(2)                        | 23.77%                
|Diane Thelen (1)1926 S. Oswego WayAurora, CO 80014 3,000,000 30.11% | 3,000,000                           | 30.11%                
|John Ballard (1)6754 W. Hinsdale PlaceLittleton, CO 80128           | 3,000,000                           | 30.11%                
|All directors and executive officers (3 persons)                    | 9,000,000                           | 71.30%                
|                                                                    |                                     |                       

(1)The person listed is an officer, a director, or both, of the Company.(2)Includes 2,660,000 deemed to be beneficially owned by Mr. Pedrie as a result of his right to acquire such
shares at any time on or before December 3, 2004, through exercise of outstanding warrants exercisable at a price
of $0.005 per share.

ITEM 12.
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

**Indemnification of Officers and Directors**

As permitted by Colorado law, the Company's Articles of Incorporation provide that the Company will
indemnify its directors and officers against expenses and liabilities they incur to defend, settle, or satisfy
any civil or criminal action brought against them on account of their being or having been Company
directors or officers unless, in any such action, they are adjudged to have acted with gross negligence or
willful misconduct. Insofar as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers or persons controlling the Company pursuant to the foregoing provisions,
the Company has been informed that, in the opinion of the Securities and Exchange Commission, such
indemnification is against public policy as expressed in that Act and is, therefore, unenforceable.

Exclusion of Liability

Pursuant to the Colorado Corporation Code, the Company's Articles of Incorporation exclude personal
liability for its directors for monetary damages based upon any violation of their fiduciary duties as
directors, except as to liability for any breach of the duty of loyalty, acts or omissions not in good faith or
which involve intentional misconduct or a knowing violation of law, acts in violation of Section 7-5-114 of
the Colorado Corporation Code, or any transaction from which a director receives an improper personal
benefit. This exclusion of liability does not limit any right which a director may have to be indemnified and
does not affect any director's liability under federal or applicable state securities laws.

Conflicts of Interest

None of the officers of the Company will devote more than a portion of his time to the affairs of the
Company. There will be occasions when the time requirements of the Company's business conflict with the
demands of the officers' other business and investment activities. Such conflicts may require that the
Company attempt to employ additional personnel. There is no assurance that the services of such persons
will be available or that they can be obtained upon terms favorable to the Company.  Each of the
Company's officers and directors also are officers, directors, or both ,of several other Colorado based
development-stage corporation in the same business as the Company. These companies may be in direct
competition with the Company for available opportunities. Company management, and the other principal
shareholders of the Company, intend to actively negotiate or otherwise consent to the purchase of a portion
of their common stock as a condition to, or in connection with, a proposed merger or acquisition
transaction. It is anticipated that a substantial premium may be paid by the purchaser in conjunction with
any sale of shares by officers, directors or affiliates of the Company which is made as a condition to, or in
connection with, a proposed merger or acquisition transaction. The fact that a substantial premium may be
paid to Company officers, directors and affiliates to acquire their shares creates a conflict of interest for
them and may compromise their state law fiduciary duties to the Company's other shareholders. In making
any such sale, Company officers, directors and affiliates may consider their own personal pecuniary benefit
rather than the best interests of the Company and the Company's other shareholders, and the other
shareholders are not expected to be afforded the opportunity to approve or consent to any particular buy-out transaction involving shares held by members of Company management.

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

> (a)        The Exhibits listed below are filed as part of this Annual Report.
> 
> 3.1        Articles of Incorporation (incorporated by reference from Registration Statement
> on Form 10-SB filed with the Securities and Exchange Commission on October
> 11, 2000).
> 
> 
> 3.2        Bylaws (incorporated by reference from Registration Statement on Form 10-SB
> filed with the Securities and Exchange Commission on October 11, 2000 ).
> 
> 31.1        Certification pursuant to Rule 13a-14(a) or 15d-14(a) under the Securities
> Exchange Act of 1934, as amended.
> 
> 
> 32.1        Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section
> 906 of the Sarbanes-Oxley Act of 2002.
> 
> 
> (b)        No reports on Form 8-K were filed by the Company during the last quarter of its
> fiscal year ending June 30, 2003.

ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES

The aggregate fees billed by Comiskey & Co., P.C. for audit of the Company's annual financial statements
were $1,100 for the fiscal year ended June 30, 2003, and $ 1,800 for the fiscal year ended June 30, 2002.
The aggregate fees billed by Comiskey & Co. for review of the Company's financial statements included in
its quarterly reports on Form 10-QSB were $ 978 during the period ended June 30, 2003 and $577
during the period ended June 30, 2002.

Audit-Related Fees

Comiskey & Co., P.C. did not bill the Company any amounts for assurance and related services that were
related to its audit or review of the Company's financial statements during the fiscal years ending June 30,
2003 or June 30, 2002.

Tax Fees

The aggregate fees billed by Comiskey & Co. P.C. for tax compliance, advice and planning were

$ 0 for the fiscal year ended June 30, 2003 and $ 40  for the fiscal year ended June 30, 2002.

All Other Fees

Comiskey & Co. P.C. did not bill the Company for any products and services other than the foregoing
during the fiscal years ended June 30, 2003 and June 30, 2002.



---

******SIGNATURES**

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.

**TABATHA V, INC.**

By: /S/ JOHN BALLARDJohn Ballard, President, Chief Financial Officer and a Director

Date: May 27, 2004

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 on the dates indicated.

By: /S/ JOHN BALLARDJohn Ballard, President, Chief Financial Officer and a Director

Date: May 27, 2004

By: /S/ DIANE THELENDiane Thelen, Secretary and a Director

Date: May 27, 2004