UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   FORM 10-KSB

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

                   For the fiscal year ended December 31, 2002
                        Commission file number 333-45678

                               SEQUIAM CORPORATION
                 (Name of small business issuer in its charter)

               California                                 3-0875030
(State or other jurisdiction of incorporation) (IRS Employer Identification No.)

                  300 SUNPORT LANE, ORLANDO, FLORIDA        32809
             (Address of principal executive offices)     (Zip Code)

                    Issuers telephone number  (407) 541-0773

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

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

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

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

Issuer's revenues for its most recent fiscal year:  $358,470.

The  aggregate  market  value  of  the Common Stock held by nonaffiliates of the
Registrant  as  of  March  7, 2003, was approximately $36,469,000 based upon the
closing  price  of  the  Registrant's  Common  Stock  on  such  date.

There  were  36,107,747  shares of Common Stock outstanding as of March 7, 2003.

Documents  incorporated  by  reference.

Transitional  Small  Business  Disclosure  Format (Check one): Yes     ; No   X
                                                                   ----     ----


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<TABLE>
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                                     SEQUIAM CORPORATION
                                         Form 10-KSB


<S>                                                                                       <C>
PART I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   1
   Item 1. Description of Business.. . . . . . . . . . . . . . . . . . . . . . . . . . .   1
   Item 2. Description of Property.. . . . . . . . . . . . . . . . . . . . . . . . . . .   8
   Item 3. Legal Proceedings.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   8
   Item 4. Submission of Matters to a Vote of Security Holders.. . . . . . . . . . . . .   9
PART II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  10
   Item 5. Market for Common Equity and Related Stockholder Matters. . . . . . . . . . .  10
   Item 7. Financial Statements. . . . . . . . . . . . . . . . . . . . . . . . . . . . .   1
   Item 8. Changes In and Disagreements With Accountants on Accounting and Financial
   Disclosure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  18
PART III . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  18
   Item 9. Directors, Executive Officers, Promoters and Control Persons; Compliance With
   Section 16(a) of the Exchange Act . . . . . . . . . . . . . . . . . . . . . . . . . .  18
   Item 10. Executive Compensation.. . . . . . . . . . . . . . . . . . . . . . . . . . .  19
   Item 11. Security Ownership of Certain Beneficial Owners and Management and Related
   Stockholder Matters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  20
   Item 12. Certain Relationships and Related Transactions.. . . . . . . . . . . . . . .  20
   Item 13. Exhibits and Reports on Form 8-K.. . . . . . . . . . . . . . . . . . . . . .  21
   Item 14. Controls and Procedures. . . . . . . . . . . . . . . . . . . . . . . . . . .  23
SIGNATURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  23
</TABLE>


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                                     PART I

This  Annual  Report on Form 10-KSB includes "forward-looking statements" within
the  meaning  of  Section  27A  of  the  Securities Act of 1933, as amended, and
Section  21E  of  the  Exchange  Act  of 1934, as amended.  These include, among
others,  the  statements  about  our  plans  and  strategies.  When used in this
document  and  the  documents  incorporated  herein  by  reference,  the  words
"believes,"  "expects,"  "anticipates,"  "intends,"  "plans,"  "estimates,"  or
similar  expressions  are  intended  to  identify,  in  certain  circumstances,
forward-looking  statements.  Forward-looking  statements  are not guarantees of
future  performance  and  are subject to certain risks, uncertainties, and other
factors,  some  of  which  are  beyond our control, are difficult to predict and
could  cause  actual  results  to  differ  materially  from  those  expressed in
forward-looking  statements.  Although  it is not possible to itemize all of the
factors  and  specific  events  that  could  affect  the outlook of a technology
company  like  ours  operating  in a competitive environment, factors that could
significantly impact expected results include: the acceptance of our technology;
the  effect  of  national  and  local  economic  conditions;  our  outstanding
indebtedness; the loss of key employees; competition from technologies developed
by  other  companies;  the  ability  to  attract and retain employees; delays in
completing  the  development  of our new products caused by a lack of capital or
external  causes  beyond our reasonable control; and the ability to identify and
consummate  relationships  with strategic partners. Although we believe that our
plans,  intentions  and  expectations  reflected  in  or  suggested  by  such
forward-looking  statements  are  reasonable,  we cannot assure that such plans,
intentions  or  expectations  will  be  achieved.  Actual  results  may  differ
materially  from  the  forward-looking  statements made in this Annual Report on
Form  10-KSB.  We do not intend to update any forward-looking statements, and we
hereby  disclaim  any  obligation  to  update  such  forward-looking statements.

ITEM 1.   DESCRIPTION OF BUSINESS.

GENERAL

Through  our  wholly  owned  subsidiaries,  Sequiam  Software,  Inc. and Sequiam
Communications,  Inc.,  we  develop, market, and support a portfolio of Internet
and  print  enterprise-wide  software  products  that  enable  users to acquire,
manage,  personalize,  and  present  information.  In  addition,  we  provide
application  service  provider  ("ASP")  hosting  of Internet-enabled solutions,
Internet  service  provider  ("ISP"),  Internet  access and hosting, consulting,
application  integration,  and  custom  web development and software development
services.  We  perform  ASP and ISP hosting using our software and facilities to
provide  processing,  print,  mail, archival, and Internet delivery of documents
for  customers  who  outsource  this  activity.

DEVELOPMENT  OF  THE  BUSINESS

Three  principal shareholders, Nicholas VandenBrekel, Mark Mroczkowski and James
Rooney,  formed Sequiam, Inc. on January 23, 2001, to research, develop, produce
and  market  a  document  management software product.  From its inception until
April  1, 2002, Sequiam Inc.'s sole business activity was the development of its
software  product,  Sequiam  DMS.

Effective  April  1,  2002,  our  wholly-owned subsidiary, Sequiam Acquisitions,
Inc.,  merged  with  Sequiam,  Inc.  and Sequiam Acquisitions, Inc. survived the
merger.  We  changed Sequiam Acquisitions, Inc.'s name to Sequiam Software, Inc.
on  May  1,  2002.  The  merger  transaction  was accounted for as a purchase of
Sequiam  Corporation  by  Sequiam, Inc. (a reverse acquisition in which Sequiam,


                                                                               1
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Inc. is considered the acquirer for accounting purposes), since the shareholders
of Sequiam, Inc. obtained a majority of the voting rights of Sequiam Corporation
as  a  result  of  the transaction.  Pursuant to the merger agreement, we issued
20,000,000  shares of common stock in exchange for all of the outstanding shares
of common stock of Sequiam, Inc., consisting of 20,000,000 shares. Additionally,
pursuant  to  the  merger  agreement,  500,000  shares  of our common stock were
returned  to  treasury  and  cancelled.  The  merger  was  accounted  for  as  a
recapitalization  of Sequiam Corporation, and the results of operations and cash
flows  presented  herein  prior  to  the  merger  are  those  of  Sequiam,  Inc.

MERGER  WITH  BREKEL  GROUP,  INC.

Effective July 19, 2002, we acquired 94.54% of the issued and outstanding shares
of  Brekel  Group,  Inc.,  a  Delaware  corporation  ("Brekel"), in exchange for
11,522,263  shares  of  our common stock, pursuant to a Stock Exchange Agreement
and  Plan  of  Reorganization, dated June 17, 2002 (the "Agreement"). The shares
exchanged  were  at  an  exchange  rate  of 1:1.  In connection with the merger,
Nicholas  VandenBrekel,  the  majority shareholder of Brekel, returned 9,500,000
shares  leaving  12,229,594  common  shares  of  Brekel  outstanding  before the
exchange  with  Sequiam  Corporation.  We  acquired  630,998  or  4.84%  of  the
remaining  issued  and outstanding common shares of Brekel on December 16, 2002,
pursuant  to  the  Agreement,  for  a  total  of  12,153,261 shares or 99.38% of
Brekel's issued and outstanding common shares.  We accounted for the acquisition
of  Brekel as a purchase and the results of operations of Brekel are included in
the  accompanying  financial statements since the date of acquisition.  Although
for  tax  purposes the Agreement qualified as a tax-free reorganization pursuant
to  Section  368  of the Internal Revenue Code, for financial reporting purposes
the  excess of the purchase price ($13,575,193) over the estimated fair value of
the  net  assets  acquired  ($888,558)  of  $12,686,635  was  accounted for as a
constructive dividend to the Brekel shareholders. Goodwill was not recognized on
the  transaction because we were under common control with Brekel.  The purchase
price  was  determined  based  on  the 12,153,261 shares issued times $1.12, the
average  stock  price of Sequiam Corporation common stock on and around June 17,
2002,  the  date  the  agreement  was  signed  and  agreed  to  by  the majority
shareholders.  Under  the terms of the Agreement, we repurchased and retired one
million  of  our  common  shares  held  by  Brekel  at  par  value.

We  acquired  Brekel  for  its  expertise  in  digital  on-demand publishing and
printing and the innovations that it brings to our document management, Internet
remote print and print on-demand software applications.  We also acquired Brekel
for  its  contract with the World Olympians Association ("WOA") and its Internet
and  ExtraNet  expertise  and  product development gained from that project (see
below).  On  November  14,  2002,  we  changed  Brekel's  name  to  Sequiam
Communications,  Inc.  to  better  represent  its  role  within  our  company.

ACQUISITION OF THE ASSETS OF WMW COMMUNICATIONS, INC.

Effective November 1, 2002, our wholly-owned subsidiary, Sequiam Software, Inc.,
acquired  all  of  the  assets  of W.M.W. Communication, Inc., doing business as
Access  Orlando.  The  purchase price of $300,000 is to be paid $150,000 in cash
and  $150,000  in  Sequiam common shares valued at the date of closing, February
13,  2003.  The  cash was paid $55,000 on or before closing, $45,000 on March 5,
2003,  and  $50,000  is due on May 19, 2003.We allocated $12,000 of the purchase


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price  to  computer  equipment  and  $288,000  to the software products Internet
Remote  Print (IRP) and Internet Remote Print Duplicator ("IRPlicator").  IRP is
a  software  product that allows computer users to print remotely to any printer
via the Internet.  IRP is highly complementary to DMS, and we are in the process
of  integrating  the  two products.  Like Sequiam, Access Orlando was engaged in
software  development,  website  development,  Internet  hosting and collocation
services,  and  is  also  an  Internet  service  provider  (ISP).

PRODUCTS

Sequiam  Software,  Inc.
------------------------

Sequiam  Software,  Inc.  ("Software")  is  focused  on  the  following lines of
business:

     SEQUIAM  DMS

Sequiam  Document  Management  Software  ("DMS")  is  the  on-line  venue  for
professionals  who create, produce or distribute any electronic content. Sequiam
DMS makes it easy for customers to share information and collaborate with others
on-line.  Tools  within  Sequiam  DMS  allow users to manipulate, proof, manage,
organize  and  publish  digital  content  whether  it's  a  work in process or a
finished  project.  In addition, Sequiam DMS provides multiple methods of access
to  secure  private  storage  that  is  accessible from the public.  The Sequiam
server can be implemented as either a customer-deployed and managed system or as
a  system  that's  completely  managed  by  Sequiam.

     SEQUIAM  IRP

Sequiam Internet Remote Print ("IRP") is a full Internet appliance consisting of
a  telecommunications-grade high-reliability server, running the Linux operating
system  with  the  IRP  software  pre-installed  for  easy  installation  and
configuration.  Two  separate network connections allow users to connect to both
the  Internet  and  to  their  internal  network, fully isolating their internal
network from the Internet.  The system combines the ability to receive documents
from  any  source  (clients' application software, print shop specific software,
scanners  and files) and output them to any output device (printers, clusters of
printers,  application  and  document-editing  software).

Once  a user's permitted employees, customers or affiliates install the Internet
Remote  Print (IRP) driver, they can print to the user's print shop or any other
remote  printer from anywhere. IRP allows the user to manage incoming print jobs
and  provides  for  easy  account  reporting.  Since  the  IRP driver is Windows
compatible,  it  works with any MS Office or other Windows program just like any
other  printer  on  a  Windows  95/98/NT/2000/XP computer.  IRP is not a network
driver.  The  IRP  system  works  over  the Internet, using a customizable print
ticket,  so the user's documents can be printed from within the office or out on
a  remote  location.

Internet  Remote  Print's  documents  use standard PostScript.  This enables any
document  submitted  to  the server to be sent to any compatible print or output
device.  Documents may be sorted and grouped by features in the Java based Print
Manager  to  allow  maximum  efficiency  when  printing.  Raw  print data may be
extracted  from  a  printed  document  for  import  into  existing applications.


                                                                               3
<PAGE>
     SEQUIAM  IRPLICATOR

Internet  Remote  Print  Duplicator  ("IRPlicator") is a software system used to
scan documents from a variety of scanning devices and send the scanned documents
to  the  IRP  Document Manager.  The IRPlicator software runs on any Windows 95,
98, NT, 2000 or XP based PC computer.  The IRPlicator software interfaces to the
scanning device through the commonly used Twain or ISIS software interface.  The
IRPlicator software may use the scanning device's User Interface (UI) or in most
cases  will  allow  operation  of the scanning device without the use of the UI.
The IRPlicator software's output is the scanned image data in compatible Level 2
Postscript.  The  data  is  a black and white or gray scale image compressed and
encoded  into  the  postscript  data.  The  output  postscript contains no other
formatting  commands other than the data itself to allow for commands to be sent
to  the  output  device independent of, and not in conflict with, the postscript
data.

There  are currently 2 versions of the IRPlicator. IRPlicator Print Shop Version
uses  a  custom  print spooler to send document data to the IRP Document Manager
simultaneously  while  other  documents  are  continuously  being  scanned. This
high-volume  approach  is  designed for the busy print shop. The IRP Remote Copy
software  is usually located at a remote location along with the remote scanning
device(s).  Documents  scanned  using  this  version  of  IRPlicator  are  sent
immediately after scanning from the remote location to the IRP Document Manager.

     ACCESS  ORLANDO

We  provide  Internet access and web hosting services to more than 700 customers
in  the  Central  Florida  area  using  the  Access  Orlando  trade  name.

     SEQUIAM  SOFTWARE

We  also  provide  high-end  web  development  and  custom software and database
development  to  medium  sized  businesses,  local  governments  and  non-profit
organizations  under  the  Sequiam  Software  brand name.  Currently, our custom
software  is  focused  on  information  management.

Sequiam  Communications,  Inc.
------------------------------

Through  Sequiam Communications, Inc. ("Communications"), formerly Brekel Group,
Inc.,  we  focus  on  the  following  lines  of  business:
One of our primary projects is the development of the Internet site and Extranet
for  the World Olympian Association (WOA) under its Sequiam Sports brand name in
connection  with  a  contract  entered  into  on December 5, 2001.  The scope of
Extranet  is  intended  to  encompass the full digital media program of the WOA,
including  the  delivery  of  editorial  content,  on-line  membership services,
support  of  WOA sponsor/partner programs and electronic commerce. In connection
with  that  contract,  Sequiam  Sports  is  currently implementing the worldwide
database  for  the Official Website of the Community of Olympic Athletes.  Under
the terms of Communication's contract with the WOA, Sequiam Sports is developing
the  Extranet  at  its own cost and expense, and receives 35% of all sponsorship
revenues  in addition to 35% of any merchandizing sales prices less fixed costs.
The  WOA,  in  turn,  has  committed  to  provide support in integrating Sequiam
Sports'  relationship  within  the  Olympic  family, including the International


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Olympic  Committee  (IOC),  various national Olympic committees (NOCs), official
sponsors  of the Olympic Games, the IOC and the NOCs, and the WOA membership. As
those  relationships  develop,  we  expect  to  invest  more  resources into the
development  of  Internet  solutions  for  these  entities.  We  expect to begin
receiving  revenue  under  this  contract  in 2003, and we expect to continue to
incur  expenses  related  to the development and ongoing maintenance of Extranet
through  the  duration  of  the  contract.

As  an  extension  of  the  WOA  Extranet project, we formed a limited liability
company  with  Pachyderm  Press  ("Pachyderm"),  the  Publisher  of  the  "World
Olympian"  magazine  in  January  2003.  The  name  of  the  company is Olympian
Publications,  LLC.  Beginning  in  February  2003,  Olympian  Publications, LLC
started  publishing the magazine.  Pachyderm will provide all editorial content,
and  we  will contribute all sales, marketing and administrative services to the
joint venture.  Each member owns 50% and profits are split evenly.  All magazine
content  is  shared  with  the  WOA  website.

Our  FirstPublish brand represents a niche in short-run publications. It offered
professional  and  aspiring  authors  of  books  and  screenplays  a  web-based,
cost-effective alternative to traditional "vanity press."  FirstPublish provided
several turnkey publishing services in an affordable package of bundled services
that  enable  authors  to  produce  a finished book.  Brekel has ceased actively
marketing  this  product in order to devote its efforts and resources more fully
to  its opportunities with the WOA. We are in discussions with another publisher
who  is  interested  in  acquiring  this  product  and  the  trademark  from us.

Brekel  had ceased its print on-demand manufacturing operation that it conducted
under the trade name QuestPrint prior to its acquisition by Sequiam Corporation.

MARKET  FOR  OUR  PRODUCTS  AND  SERVICES

Our  management  believes that the market for our products and services includes
small,  medium  and  large corporations across all industry segments, non-profit
and  governmental entities.  Regardless of size, all organizations are concerned
with  improving  performance  in  the  management  of  their  documents.

We are targeting our sales primarily to leading suppliers in aerospace, banking,
financial  services,  healthcare, hospitality, insurance, manufacturing, mining,
education, the public sector, telecommunications, and transportation.

DISTRIBUTION  OF  OUR  PRODUCTS  AND  SERVICES

Sequiam  products  and  services  are  just now coming to market after a lengthy
development  period  and, to date, have been sold direct from Sequiam and, prior
to  its  acquisition,  Access  Orlando.  We intend to sell our software products
through  "Value  Added  Resellers,"  distributors  and  marketing  alliances.

Value  Added  Resellers (VARs) - Our VARs are and will be software companies and
------------------------------
print  equipment  manufacturers and distributors with industry applications that
sell  our  software  products in conjunction with their own products.  Some VARs
will  private-label  Sequiam  products.  Our  one  current  VAR  offers  Sequiam


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products  to  a  variety  of  industries, including manufacturing, distribution,
warehouse  logistics,  healthcare, insurance, mining, power/utilities, and human
resources.  Under  the  typical  agreement  between  a  VAR and Sequiam, the VAR
receives  the  non-exclusive  license to sell the software products specified in
the  agreement and to grant sublicenses for the use of such software to users of
the  VAR's  applications.  The  license  fees a VAR pays are discounted from the
license  fee  charged  by  the  VAR  for  the  use  of  our  software.

Distributors  -  Sequiam  distributors  are  and  will  be  companies  that sell
------------
technology  into  geographic  regions  where  Sequiam  has no physical presence.
Currently,  we have a distributor in India selling in India and the Middle East.
We  typically  grant  to  distributors  the  non-exclusive  license  to sell the
software  products  specified  in  the  distributor  agreement  and  to  grant
sublicenses  for  the  use  of  such  software.  The fees a distributor pays are
discounted  from  our  standard  license  fee  for  the  use  of  our  software.

Alliance  Partners  -  Sequiam's  are companies that provide both technology and
------------------
management consulting and implementation services, but typically do not actually
sell software.  Alliance Partners who recommend Sequiam products as a service to
their  clients,  often  provide  great  influence  on  sales.  Alliance Partners
maintain no financial relationship with Sequiam in that they do not receive fees
in  exchange  for  their  recommendations.  The  Partners  benefit  from  such
recommendations  because  Sequiam will, if the occasion arises, refer management
consulting  services  to  them.

Sequiam Associate Partners - We will contract with individuals and organizations
--------------------------
that  act as independent contractors working in a self-determined territory on a
commission-only  basis.  Targeted  candidates  will  bring  with  them  a strong
background in Sequiam's key markets. Based on their background, these candidates
can  leverage  prior  market experience and business relationships, which should
allow  them  to  identify,  qualify  and  penetrate key accounts for the sale of
Sequiam's  solutions.

We  launched  our  web site  (www.sequiam.com) in 2001 to provide customer leads
and  to  promote  our  products and services over the Internet.  Our web site is
also  used  to  provide  current  customers with information on new products and
services,  product training dates and company-sponsored seminars.  Historically,
approximately  100%  of  our  annual  revenues have been received through direct
sales  efforts.  We  plan  to  expand  those  efforts through other distribution
channels in 2003.  We currently do not provide our annual report or periodic SEC
filings on our web site and therefore, we do not consider it a central source of
information  for  our  investors.

COMPETITION

We  are  unaware  of  competitors  whose  products  perform all of the functions
performed  by  Sequiam's  products.  We  compete  in  the  market for integrated
document  management  and  Internet  remote  print  software with other software
companies  whose  products  are  used  to image, print and manage documents. Our
management  believes  that  our products are competitive due to features such as
ease  of  deployment,  low  overhead and administration, ease of use, integrated
application  suite,  and  appeal  to  broad  user  requirements.


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Our  competition  with  web  site  development,  web  site  hosting and document
management  business  focus, is from a variety of small to medium-sized industry
"specialists"  and  "generalists".  The  aerospace,  entertainment  and  imaging
industries  have  created  a  number  of specialized development and application
management  companies  that  focus  on  "niche"  markets.

Our  sales  and  marketing  plan  is  to  grow  more as a "generalist" provider,
crossing-over  a  variety  of  markets  while providing customized solutions for
front  & back-end development and managed hosting services.  Competitors in this
"space"  are  largely  small  to  mid-sized (6 to 20 staff) companies including;
Sales  &  Marketing  Technologies,  Xenedev  Development  Services, Web-Solvers,
Digital  Planet, Bridgemore Technologies and Atlantic.net.  Additionally, dozens
of cottage-industry development companies consume a small amount of the market's
development  and  hosting  demand.

None  of  our competitors are pervasive within the marketplace.  In fact, former
and  larger  competitors  such  as Hydrogen Media, In-Hanse, MPI.net and Datapex
have  undergone  varying  levels of downsizing if not bankruptcy within the last
two  years.  The  demise  of these outfits can be largely attributed to customer
service,  sales  deployment  and  profitability  issues.  Our  growth  plan  and
business  operations  are  different  from  these  former  large competitors and
current  smaller  ones  because  we  are  committed and dedicated to the central
Florida  market  exclusively.

OUR  CUSTOMERS

Four  institutional  customers  have  licensed Sequiam Software products.  These
include  Louisiana  State  University,  Florida State University, Volusia County
Schools  and  Seminole County Schools.  Custom software clients include National
In-Store  and  IBM  (in  association  with KnowledgeMax). Custom web development
customers  include  the  World  Olympian  Association  and  the  Daytona  Beach
Convention and Visitors Bureau.  We provide Internet access and hosting services
for  over  700  customers.  In  the  past, several of our customers have ordered
additional software and services, occurring within a non-predictable time frame,
that is, from a few months of the original order up to a year or more after that
order.  The  additional  orders  typically  have  been either custom programming
projects or the purchase of new products as these become available.  No customer
accounted  for  more  than  10%  of  our  revenues  during  2002.

INTELLECTUAL  PROPERTY

We  have  not sought patent protection for any of our products due to the length
of the patent application procedure and the necessity to continually develop and
improve  our  software  products.  However,  we  have  registered  "Sequiam" (as
trademark)  and "FirstPublish" (as trademark) with the U.S. Patent and Trademark
Office.  Once  granted,  the  trademarks in the U.S. have duration of ten years,
with  the  possibility  of  renewals  for  like terms.  Contracts under which we
license  the  use and/or sale of our products include confidentiality clauses to
protect  our  products  and  any  information  in  connection with them as trade
secrets.

Despite  these precautions, it may be possible for unauthorized third parties to
copy  certain  portions of our products or to obtain and use information that we
regard  as proprietary.  There can be no assurance that our efforts will provide
meaningful  protection  for  our  proprietary  technology  against  others  who
independently  develop  or otherwise acquire substantially equivalent techniques
or gain access to, misappropriate, or disclose our proprietary technology.


                                                                               7
<PAGE>
SOFTWARE  DEVELOPMENT  ACTIVITIES

In  2001,  we  incurred  a  total  amount  of  $80,234  on  software development
activities,  and  in  2002, a total of $339,705.  None of these costs were borne
directly by any customer. We expect to continue to maintain our current level of
investment  in  developmental  activities  consistent  with the fiscal year 2002
expense.

OUR  EMPLOYEES

As  of December 31, 2002, we employed 22 people .  Two of these employees worked
in  sales  and marketing; twelve provided professional services such as training
and  general  product  assistance; three worked in product development; and five
provided  general  administrative  services.  Nineteen  employees  are  working
full-time,  and  three  are  part-time employees providing technical support and
help  lines.  No employees are represented by a labor union, and we consider our
relations  with  employees  to  be  good.

DEPENDENCE  ON  KEY  MANAGEMENT  PERSONNEL

We  believe  that our continued success depends to a significant extent upon the
efforts  and  abilities  of  its  senior management.  In particular, the loss of
Nicholas  VandenBrekel,  our  President  and  Chief  Executive  Officer,  Mark
Mroczkowski,  our  Senior  Vice  President  and Chief Financial Officer, or Alan
McGinn,  the  Chief  Technology  Officer of Sequiam Software, Inc., could have a
material  adverse  effect  on  our  business.

ITEM 2.   DESCRIPTION  OF  PROPERTY.

Our  corporate  headquarters  are  located at 300 Sunport Lane, Orlando, Florida
32809.  On  July  1,  2001,  the Brekel Group, Inc., prior to its acquisition by
Sequiam, entered into a lease agreement to rent approximately 60,000 square feet
of  combined  office  and  manufacturing space through June 30, 2011.  Effective
July  1,  2002,  Sequiam  entered  into a lease forbearance agreement for 10,000
square  feet  of the same space for the remaining term of the lease. Pursuant to
the  lease  agreement,  we make monthly base rent payments including common area
maintenance  charges  of  $9,633,  with annual increases of approximately 3% per
year  beginning  in  July  2004.  As part of the lease forbearance agreement, we
executed  a note payable to the landlord to reimburse them for lost rents on the
50,000  square  feet  relinquished to them through June 30, 2004; less rents and
principal  payments  received  from  us;  less  75%  of  any rents received from
replacement  tenants;  plus  any  leasing  commissions or tenant build out costs
required  for  replacement  tenants.  The  note also includes amounts previously
owed by Brekel to the landlord for tenant improvements.  The outstanding balance
on  the note of $680,540 as of December 31, 2002 represents $282,560 of deferred
rent  and $397,980 of tenant improvements. Payments on the note commence July 1,
2004  through  June  1,  2010  with  interest  at  6%.

ITEM 3.   LEGAL  PROCEEDINGS.

We  are  involved  in  various claims and legal actions incidental to the normal
conduct  of its business.  On or about October 3, 2002, General Electric Capital
Corporation ("GE") filed a lawsuit against Brekel Group, Inc. ("Brekel"), in the
Circuit  Court  of the 9th Judicial Circuit in and for Orange County, located in


                                                                               8
<PAGE>
Orlando, Florida.  GE claims that Brekel owes a deficiency balance in the amount
of $93,833 for three digital copiers rented under a lease agreement.  Brekel has
returned  possession  of  the  copiers  to GE, but Brekel disputes the claim for
damages.  The  court  has  entered no decisions to date.  We do not believe that
the  ultimate resolution of these actions will have a material adverse effect on
us  based  upon  the  value  of  the  equipment  returned  to  GE.

Brekel  entered  into  a note payable with Xerox Corporation in November 2000 to
finance  equipment.  Brekel  also  entered  into  a  Document Services Agreement
("Agreement")  with  Xerox  Corporation  on November 1, 1999 commencing April 1,
2000.  During  the  63-month  term  of the Agreement ending June 30, 2005, Xerox
agreed  to  provide  equipment  and  services  in  accordance  with  specified
performance  standards.  Those  standards  include,  among  other  things,  a
performance  satisfaction  guaranty by Xerox.  Under the terms of that guaranty,
Brekel  may  terminate  the  agreement  without  incurring any early termination
charges.  Brekel  did  in March 2001 give proper notice of such termination.  On
September  3,  2002  Xerox  did,  contrary to the contract, assert its claim for
early  termination  charges  and for monthly minimum service charges on billings
made  after  the termination date.  We dispute these claims and believes them to
be  without  merit.

A  competing  web-development company has posted an alternative web site for the
WOA,  claiming  such  right  was  granted  to  it by the WOA.  We are seeking to
resolve  this  conflict with the WOA without resort to litigation.  This dispute
will  not  affect our publication of the print magazine "World Olympian," but it
has the potential to result in the loss of revenue from the WOA web site.  We do
not believe the loss of such revenue will have a material, adverse effect on our
overall  business.

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

(a)  On  July 18, 2002, a special meeting of the shareholders of the corporation
was  held  at  our  main  offices  in  Orlando,  Florida.

(b)  The  special  meeting  was called to approve the two following resolutions:

1.  To  approve  the  acquisition  of  Brekel Group, Inc., pursuant to the Share
Exchange  Agreement  and  Plan  of  Reorganization.

2.  To  approve  an  amendment  to the Bylaws providing for shareholder approval
without  a  meeting.

Both  proposals  were  approved  at the meeting, with 19,500,000 (of 24,233,000)
votes cast in favor of each proposal, and no votes cast against either proposal.


                                                                               9
<PAGE>
                                     PART II

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

(a)  On  September  11,  2001, our Form SB-2 became effective, and our stock has
been  quoted  on  the  NASD  OTC  Bulletin  Board since February 8, 2002, and is
currently  traded  under  the  symbol  SQUM.  The table below sets forth the OTC
market  quotations,  which reflect inter-dealer prices, retail mark-up, markdown
or  commission  and  may  not  necessarily  represent  actual  transactions.

<TABLE>
<CAPTION>
                                                   Market Prices
                                                  ----------------
2002                                               High      Low
----                                              -------  -------
<S>                                               <C>      <C>
First quarter                                     $  3.70  $  2.00
Second quarter                                       3.25     0.66
Third quarter                                        2.01     0.85
Fourth quarter                                       1.87     0.90
</TABLE>

As  a  result  of current trading prices, our common stock may be subject to the
penny stock rules under the Securities Exchange Act of 1934. Unless an exemption
from  those  rules  is  available,  broker-dealers making a market in the common
stock  will  be  required  to provide disclosure to their customers on the risks
associated  with  the common stock, its investment suitability for the customer,
information on bid and ask prices for the common stock and information about any
compensation  the  broker-dealer  will  receive  for a transaction in the common
stock.  The  application  of  these  rules  will  likely  reduce  market-making
activities  in  the  common  stock  by  impairing  its  liquidity.


(b)  As of December 31, 2002, there were 127 holders of record of the our common
stock. That does not account for the number of beneficial holders whose stock is
held  in  the  name  of  broker-dealers  or  banks.

(c) We have not paid and, in the foreseeable future, we do not intend to pay any
dividends.  There are no restrictions that limit the ability to pay dividends on
common  equity  and  none  that  are  likely  to  do  so  in  the  future.

(d)  There  are  no securities authorized for issuance under equity compensation
plans.  We  are committed to adopting a qualified employee stock option plan for
our  employees  by June 30, 2003.  We are obligated to issue stock options or to
pay  an equivalent cash bonus to Alan McGinn, our Chief Technology Officer, even
if  we  do  not  adopt  such  a  plan  by  June  30,  2003.

ITEM 6.   MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  OPERATIONS.

Year Ended December 31, 2002 compared to Year Ended December 31, 2001.
----------------------------------------------------------------------

Our  financial  statements include revenue from Sequiam, Inc. during 2001 (prior
to  our  acquisition  of  Sequiam,  Inc.)  because  for accounting purposes, our
acquisition  of  Sequiam,  Inc.  was  treated  as  a recapitalization of Sequiam
Corporation.  Our financial statements do not include revenue from Brekel Group,
Inc.,  prior  to our acquisition of Brekel Group, Inc. on July 19, 2002, because
this  acquisition  is  reported  under  the  purchase-method  of  accounting.


                                                                              10
<PAGE>
REVENUES

We  derived  our  revenues  from four sources: (i) the sale and licensing of our
software products; (ii) consulting, custom software services and web development
services; (iii) maintenance agreements in connection with the sale and licensing
of software products; and (iv) Internet access and web hosting services.  During
2003,  we  intend to also derive revenue from our print publication.    Software
license  revenue will be recognized when all of the following criteria have been
met:  (a) there is an executed license agreement, software has been delivered to
the customer, (b) the license fee is fixed and payable within twelve months, (c)
collection  is  deemed  probable,  and (d) product returns are deemed reasonably
estimable.  Revenues  related to multiple element arrangements will be allocated
to  each element of the arrangement based on the fair values of elements such as
license  fees,  maintenance  and  professional  services.  Fair  value  will  be
determined based on vendor specific objective evidence. Maintenance revenues are
recognized ratably over the term of the maintenance contract, typically 12 to 36
months.  Consulting,  custom  software  and  web  development  and other service
revenues  are  recognized  when  services  are  performed.  Internet  access and
web-hosting  services  are recognized over the period the services are provided,
typically  month-to-month.  Total  revenue  increased  to  $358,470 for the year
ended  December  31,  2002  from  $-0-  for  the  year  ended December 31, 2001.

Software and license fee revenues were unchanged at $-0- for both 2001 and 2002.
During  fiscal  year 2001 and 2002, Sequiam DMS was still under development, and
we  did  not acquire Access Orlando and its IRP and IRPlicator software products
until  November  2002.  We  expect to begin generating revenues from the sale of
our  DMS  and  IRP  software  products  in  the  second  quarter  of  2003.

Other  sales  for  2002  included  consulting,  custom software services and web
development  services  totaling  $205,000;  maintenance agreements in connection
with the sale and licensing of software products, sold by WMW prior to Sequiam's
purchase of the software on November 1, 2002, of $5,200; and Internet access and
web-hosting  services  totaling  $148,270.  All  of  the  foregoing  were  100%
increases  over 2001 revenues of $-0-, and most of the revenue was earned in the
second  and  fourth quarters as a result of our business and product development
efforts  expended  in  the  prior  quarters.

OPERATING  EXPENSES

Operating  expenses  increased  by $1,037,547 (142%), from $729,496 for the year
ended  December  31,  2001  to  $1,767,043 for the year ended December 31, 2002.
This  increase  is  explained  below.

Selling,  general  and  administrative  expenses  increased $827,534 (161%) from
$511,969  in  2001 to $1,339,503 in 2002.  We increased our selling and overhead
expenditures  such  as  salaries,  wages  and  benefits  for  administrative and
marketing  personnel,  office  rent,  computer  maintenance  and  supplies,
professional  services  such  as legal and accounting fees, and corporate travel
expenses  as  a  result  of  expanding  our  operations, our merger with Sequiam


                                                                              11
<PAGE>
Corporation  and  our  acquisitions of Brekel Group and Access Orlando.  We also
increased  expenditures  for  marketing  including  advertising,  production  of
marketing  materials, and participation in trade show activities as we completed
the  development  of  our  software products and introduced web development, web
hosting  and  Internet  access  services.

Software and web development costs increased $88,992 (43%) from $205,831 in 2001
to $294,823 in 2002, due to the expansion of the development staff from three in
2001  to  twelve  in  2002.  This  expansion  of  staff was needed to expand our
products  and  services  and to keep pace with new industry developments and the
continued  need  to  improve features and functionality of the Sequiam products.

DEPRECIATION  EXPENSE

Depreciation  expense increased by $121,022, from $11,696 in 2001 to $132,718 in
2002,  as  a  result  of  depreciation  on  assets  acquired  from  Brekel.

INTEREST  EXPENSE

Interest  expense  increased by $20,549, from $1,192 in 2001 to $21,741 in 2002,
as a result of an increase in loans from shareholders and a note payable related
to  leasehold  improvements  acquired  from  Brekel  Group  in  July  2002.

NET  LOSSES

Sequiam Corporation incurred net losses of $1,441,292 and $730,688 for the years
ended  December  31,  2002  and  2001,  respectively.

LIQUIDITY  AND  CAPITAL  RESOURCES

Cash and cash equivalents increased to $85,922 as of December 31, 2002 from $-0-
as  of December 31, 2001. Net cash used in operating activities was $278,211 for
the  year ended December 31, 2002, as a result of the net loss during the period
of $1,441,292 and decreases in accrued expenses of $189,768, which was partially
offset  by  increases  in  accounts  payable  and  accrued  shareholder salaries
totaling  $702,782  and non-cash expenses and losses totaling $580,044. Net cash
provided  by  investing  activities  was $29,098 for the year ended December 31,
2002, primarily due to proceeds from the sale of equipment of $103,351 offset by
software  development  costs  of  $51,705  for  the  Sequiam  DMS  product.

Net  cash  provided  by  financing  activities  was  $335,035 for the year ended
December  31,  2002.  Proceeds from shareholder loans accounted for $669,500 and
were  offset  by repayments of shareholder loans of $321,000.  Sequiam Software,
Inc.  also  collected  a  stock subscription receivable in the amount of $2,000.
During  the  year ended December 31, 2002, we repaid $14,465 of an existing note
payable.  Additionally,  we  repurchased  one million shares of its common stock
for  $1,000  under  the  terms  of  the  Brekel  acquisition  agreement.


                                                                              12
<PAGE>
On  July  1,  2001, the Brekel Group, Inc., prior to its acquisition by Sequiam,
entered  into  a  lease  agreement  to  rent approximately 60,000 square feet of
combined  office  and manufacturing space through June 30, 2011.  Effective July
1,  2002,  Sequiam  entered into a lease forbearance agreement for 10,000 square
feet  of  the  same  space  for the remaining term of the lease. Pursuant to the
lease  agreement,  we  make  monthly  base  rent  payments including common area
maintenance  charges  of  $9,633,  with annual increases of approximately 3% per
year  beginning  in  July  2004.  As part of the lease forbearance agreement, we
executed  a note payable to the landlord to reimburse them for lost rents on the
50,000  square  feet  relinquished to them through June 30, 2004; less rents and
principal  payments  received  from  us;  less  75%  of  any rents received from
replacement  tenants;  plus  any  leasing  commissions or tenant build out costs
required  for  replacement  tenants.  The  note also includes amounts previously
owed by Brekel to the landlord for tenant improvements.  The outstanding balance
on  the note of $680,540 as of December 31, 2002 represents $282,560 of deferred
rent  and $397,980 of tenant improvements. Payments on the note commence July 1,
2004  through  June  1,  2010  with  interest  at  6%.

Rental expense for the year ended December 31, 2002 was $376,118 and $27,069 for
the period from inception through December 31, 2001.  The minimum future rentals
required under the lease and the maturities of the long-term note payable are as
follows:

<TABLE>
<CAPTION>
Year                                                       Rentals   Maturities
----                                                       --------  -----------
<S>                                                        <C>       <C>
2003                                                       $115,600  $         0
2004                                                        117,334       50,997
2005                                                        120,854       99,606
2006                                                        124,480      105,749
2007                                                        128,214      112,272
Thereafter                                                  339,169      311,916
                                                           --------  -----------
                                                           $945,651  $   680,540
                                                           ========  ===========
</TABLE>

During  the  year  ended December 31, 2002, we incurred a net loss of $1,441,292
and  used $278,211 of cash in operating activities.  As of December 31, 2002, we
had  an  accumulated  deficit  of  $2,194,213,  total  stockholders'  deficit of
$1,223,073,  and  negative  working  capital  of  $2,345,670.

On  February 6, 2003, we sold an aggregate of 266,667 shares of our common stock
to  one  accredited  investor  at  a  price  of  $0.75 per share for proceeds of
$200,000.  In  connection  with  such  sales  we  relied  on  the exemption from
registration  provided  by  Section  4(2)  of  the  Securities Act of 1933.  The
investor  represented  in  writing  that  the  shares  were  being  acquired for
investment  and,  in  addition,  the certificates representing the shares bear a
restrictive  securities  legend.

On  March  7,  2003,  we  closed  a  private equity financing with La Jolla Cove
Investors,  Inc.  of  San  Diego,  California.  The  terms  of the financing are
summarized  below, and a copy of the loan documents is included as an exhibit to
our  Form  8-K  filed  with  the Securities and Exchange Commission on March 12,
2003.


                                                                              13
<PAGE>
We  entered  into  a Securities Purchase Agreement with La Jolla Cove Investors,
Inc.  (the  "Investor"),  dated March 5, 2003, pursuant to which we delivered to
Investor an 8% Convertible Debenture in the amount of $300,000, convertible into
our  common  stock,  and  a  Warrant  to  Purchase Common Stock that permits the
Investor  to  purchase up to ten times the number of shares of stock issued upon
conversion  of  the debenture, for a maximum price of $9,000,000.  At closing of
this financing on March 7, 2003, we received $150,000 of the principal amount of
the  debenture,  less  Investor's  attorney  fees  of  $2,500.

Under  the terms of the debenture, warrant and related documents, the conversion
price  is  the  lesser  of  $0.50  per  share  or 80% of market value ("Discount
Multiplier"),  but  the  company  has the option of prepaying any portion of the
debenture  prior  to conversion if the conversion price is equal to or less than
$0.50.  The  Investor  may  convert  a  maximum of 10% of the principal into our
common  stock  during  any  month.

The  Investor  also  received  warrants to purchase up to 10 times the number of
shares  of  our  common  stock  issued  upon  conversion of the debenture, at an
exercise  price  of the lesser of 80% of market value or $1.50 per share, but in
no  event  less  than  $0.50.  These warrants could raise up to an additional $9
million  for  the  company  if exercised.  As of the date of filing this report,
Investor  had  not  converted any portion of the debenture, and no shares of our
common stock have been issued.  The total number of shares of common stock to be
issued  to  the  Investor depends upon the market price of stock at the time the
debenture  is  converted.

We  are  obligated  to  register  the  sale of the underlying common stock to be
issued  upon  conversion of the debenture and the exercise of the warrant.  Upon
the  effective  date  of  the  registration,  we will receive the balance of the
principal  amount  of  the  debenture, $150,000.  Following the effectiveness of
such  registration statement, we have the right to cause the Investor to convert
up to 5% of the debenture and exercise the related warrants (10 times the number
of  shares  of  common  stock),  per  month.

We  have  agreed  not  to pay any accrued salaries or shareholder loans that are
presently  outstanding  until  after  the Convertible Debenture is paid in full,
except  to  the  extent  that any such accrued salaries or shareholder loans are
used  to  perform  obligations  under  the  Put  and Call Agreement between Nick
VandenBrekel,  Mark  Mroczkowski and the Investor, or unless we can pay them out
of  the  proceeds  of  any  additional  financing  we  might  obtain.

In  the  event the Registration Statement has not been filed with the SEC by the
Deadline  then the Discount Multiplier shall decrease by three percentage points
(3%)  for  each  month  or  partial  month occurring after the Deadline that the
Registration  Statement  is  not  filed.

We  will  need  additional capital to continue operations during the next twelve
months.  Our  management  is  undertaking  several  initiatives  to  address our
liquidity,  including  the  following:  (1)  continued  efforts  to increase our
revenues from software licenses and other revenue sources; (2) proceeds expected
to  be  received  from  the  convertible  debentures and exercise of warrants as
described  above;  (3) continued efforts to obtain additional debt and/or equity
financing  and; (4) continued efforts to reduce operating costs.  Our management
believes  that  these  activities will generate sufficient cash flows to sustain
our  operations  during  the  next  twelve  months.


                                                                              14
<PAGE>
APPLICATION  OF  CRITICAL  ACCOUNTING  POLICIES

We  utilize  certain  accounting  policies and procedures to manage changes that
occur  in  our business environment that may affect accounting estimates made in
preparation  of  our  financial statements.  These estimates relate primarily to
our  allowance  for  doubtful  accounts  receivable.  Our  strategy for managing
doubtful accounts includes stringent, centralized credit policies and collection
procedures for all customer accounts.  We utilize a credit risk rating system in
order  to  measure  the quality of individual credit transactions.  We strive to
identify  potential  problem  receivables  early,  take  appropriate  collection
actions,  and  maintain adequate reserve levels.  Management has determined that
the  allowance  for  doubtful  accounts  is  adequate  at  December  21,  2002.

RECENT  ACCOUNTING  PRONOUNCEMENTS

In  June  2001,  the  Financial  Accounting  Standards Board issued Statement of
Financial  Accounting  Standards  No.  143  ("FAS  143"),  Accounting  for Asset
Retirement  Obligations, effective for the fiscal years beginning after June 15,
2002.  This  statement provides the accounting for the cost of legal obligations
associated with the retirement of long-lived assets.  FAS 143 also requires that
companies  recognize  the  fair  value  of  a  liability  for  asset  retirement
obligations  in  the period in which the obligations are incurred and capitalize
that  amount  as a part of the book value of the long-lived asset.  That cost is
then depreciated over the remaining life of the underlying long-lived asset.  We
do  not expect SFAS 143 to have a material impact on our financial condition and
results  of  operations.

In July 2002, the Financial Accounting Standards Board ("FASB") issued Statement
of  Financial  Accounting  Standards  ("SFAS")  No.  146  "Accounting  for Costs
Associated  with  Exit  or  Disposal  Activities," which is effective January 1,
2003.  SFAS  146  provides  than  an  exit  cost  liability should not always be
recorded  at  the  date  of  an entity's commitment to an exit plan, but instead
should be recorded when the obligation is incurred.  An entity's commitment to a
plan,  by  itself,  does not create an obligation that meets the definition of a
liability.  We do not expect SFAS 146 to have a material impact on our financial
condition  and  results  of  operations.


                                                                              15
<PAGE>
ITEM 7.   FINANCIAL STATEMENTS




SEQUIAM  CORPORATION  AND  SUBSIDIARIES

CONSOLIDATED  FINANCIAL  STATEMENTS

For the years ended December 31, 2002 and 2001




                                                                              16
<PAGE>
<TABLE>
<CAPTION>
                      SEQUIAM CORPORATION AND SUBSIDIARIES

                        CONSOLIDATED FINANCIAL STATEMENTS

                  For the year ended December 31, 2002 and the

       period from inception (January 23, 2001) through December 31, 2001



                                    CONTENTS


<S>                                                               <C>
Report of Independent Certified Public Accountants . . . . . . . .  F-2

Consolidated Financial Statements:
Balance Sheets . . . . . . . . . . . . . . . . . . . . . . . . . .  F-3
Statements of Operations . . . . . . . . . . . . . . . . . . . . .  F-4
Statements of Shareholders' Deficit. . . . . . . . . . . . . . . .  F-5
Statements of Cash Flows . . . . . . . . . . . . . . . . . . . . .  F-6
Notes to Consolidated Financial Statements . . . . . . . . . . . .  F-7
</TABLE>



<PAGE>
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS


The Board of Directors and Shareholders
Sequiam  Corporation

We  have  audited  the  accompanying  consolidated  balance  sheets  of  Sequiam
Corporation  (formerly  known as Wedge Net Experts, Inc.) and subsidiaries as of
December  31,  2002  and  2001  and  the  related  consolidated  statements  of
operations,  shareholders'  deficit,  and cash flows for the year ended December
31,  2002  and  the  period  from  January  23, 2001 (date of inception) through
December  31,  2001.  These  consolidated  financial  statements  are  the
responsibility  of the Company's management. Our responsibility is to express an
opinion  on  these  consolidated  financial  statements  based  on  our  audits.

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

In  our opinion, the consolidated financial statements referred to above present
fairly,  in all material respects, the financial position of Sequiam Corporation
and  subsidiaries  at  December  31,  2002  and  2001,  and the results of their
operations and their cash flows for the year ended December 31, 2002 and for the
period  from  January  23, 2001 (date of inception) through December 31, 2001 in
conformity with accounting principles generally accepted in the United States of
America.



/s/ Gallogly, Fernandez & Riley, LLP
Orlando, Florida
February 21, 2003, except for Note 8 as to which the date is March 7, 2003


                                                                             F-2
<PAGE>
<TABLE>
<CAPTION>
                            Sequiam Corporation and Subsidiaries

                                Consolidated Balance Sheets


                                                                          December 31,
                                                                   ------------------------
                                                                       2002         2001
                                                                   ------------  ----------
<S>                                                                <C>           <C>
ASSETS:
Current assets
     Cash                                                          $    85,922   $       -
     Receivables, net of allowance for bad debts of $5,000 and $0       41,141           -
     Equipment held for sale                                           177,080           -
                                                                   ------------------------
Total current assets                                                   304,143           -
                                                                   ------------------------

Property and equipment, net                                          1,375,398      69,796
Software development costs                                             131,939      80,234
Acquired software                                                      288,000           -
Deposits and other assets                                                7,800           -
                                                                   ------------------------
Total assets                                                       $ 2,107,280   $ 150,030
                                                                   ========================

LIABILITIES AND SHAREHOLDERS' DEFICIT
Current liabilities:
  Amount due for acquisition                                       $   288,457   $       -
  Accounts payable                                                     646,331           -
  Accrued expenses                                                      64,783           -
  Loans from shareholders                                              795,450     627,718
  Accrued shareholders' salaries                                       854,792     253,000
                                                                   ------------------------
Total current liabilities                                            2,649,813     880,718
                                                                   ------------------------

Long-term debt                                                         680,540           -
                                                                   ------------------------
Total liabilities                                                    3,330,353     880,718
                                                                   ------------------------

Commitments and contingencies

Shareholders' deficit:
  Preferred shares, par value $.001;
   50,000,000 shares authorized; none issued                                 -
  Common shares, par value $.001;
   100,000,000 shares authorized; 35,462,609
   and 24,233,000 shares issued and outstanding                         35,463      24,233
  Additional paid-in capital                                           935,677           -
  Stock subscriptions receivable                                             -      (2,000)
  Accumulated deficit                                               (2,194,213)   (752,921)
                                                                   ------------------------
Total shareholders' deficit                                         (1,223,073)   (730,688)
                                                                   ------------------------
Total liabilities and shareholders' deficit                        $ 2,107,280   $ 150,030
                                                                   ========================
</TABLE>

See accompanying notes to consolidated financial statements


                                                                             F-3
<PAGE>
<TABLE>
<CAPTION>
                           Sequiam Corporation and Subsidiaries

                           Consolidated Statements of Operations


                                                                             Period from
                                                                              inception
                                                                            (January 23,
                                                             Year ended     2001) through
                                                            December 31,    December 31,
                                                                2002            2001
                                                           --------------  ---------------
<S>                                                        <C>             <C>
Net sales                                                  $     358,470   $            -

Costs and expenses:
  Selling, general and administrative                          1,339,503          511,969
  Software and web development costs                             294,823          205,831
  Depreciation                                                   132,718           11,696
                                                           -------------------------------
                                                               1,767,044          729,496
                                                           -------------------------------
Loss from operations                                          (1,408,574)        (729,496)

Loss on sale of equipment                                        (10,977)               -
Interest expense                                                 (21,741)          (1,192)
                                                           -------------------------------
Net loss                                                   $  (1,441,292)  $     (730,688)
                                                           ===============================

Net loss per common share:
   Basic and diluted                                       $       (0.05)  $        (0.04)

Shares used in computation of net loss per common share -
   Basic and diluted                                          29,350,902       20,000,000
</TABLE>

See accompanying notes to consolidated financial statements


                                                                             F-4
<PAGE>
<TABLE>
<CAPTION>
                                          Sequiam  Corporation  and  Subsidiaries
                                      Consolidated Statements of Shareholders' Deficit
                                            Year Ended December 31, 2002 and the
                             Period from inception (January 23, 2001) through December 31, 2001



                                             Common Shares
                                        ----------------------   Additional        Stock
                                           Shares       Par        Paid-in      Subscription    Accumulated
                                        Outstanding    Value       Capital       Receivable       Deficit         Total
                                        -----------------------------------------------------------------------------------
<S>                                     <C>           <C>       <C>            <C>             <C>            <C>

Balance at December 31, 2001, as
previously reported                       4,733,000   $ 4,733   $    123,007   $           -   $   (127,740)  $          -
Recapitalization                         19,500,000    19,500       (123,007)         (2,000)      (625,181)      (730,688)
                                        -----------------------------------------------------------------------------------
Balance at December 31, 2001, as
restated                                 24,233,000    24,233              -          (2,000)      (752,921)      (730,688)
Correction of shares from
recapitalization                             17,000        17            (17)              -              -              -
Payment of stock Subscription
receivable                                        -         -              -           2,000              -          2,000
Common stock issued for acquisition of
Brekel on July 19, 2002                  12,153,261    12,153     13,563,040               -              -     13,575,193
Constructive dividend to Brekel
shareholders                                      -         -    (12,686,635)              -              -    (12,686,635)
Repurchase and retirement of shares      (1,000,000)   (1,000)             -               -              -         (1,000)
Common stock issued for services             59,348        60         59,289               -              -         59,349
Net loss                                          -         -              -               -     (1,441,292)    (1,441,292)
                                        -----------------------------------------------------------------------------------
Balance at December 31, 2002             35,462,609   $35,463   $    935,677   $           -   $ (2,194,213)  $ (1,223,073)
                                        ===================================================================================
</TABLE>

See accompanying notes to consolidated financial statements


                                                                             F-5
<PAGE>
<TABLE>
<CAPTION>
                       Sequiam Corporation and Subsidiaries

                       Consolidated Statements of Cash Flows


                                                                     Period from
                                                                      inception
                                                                    (January 23,
                                                     Year ended     2001) through
                                                    December 31,    December 31,
                                                        2002            2001
                                                   --------------  ---------------
<S>                                                <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                                           $  (1,441,292)  $     (730,688)
Adjustments to reconcile net loss to net cash
used for operating activities:
Depreciation                                             132,718           11,696
Operating disbursements paid by related party             89,440          465,992
Issuance of common stock in exchange for services         59,349                -
Issuance of note payable for rents                       282,560                -
Loss on sale of assets                                    10,977                -
Provision for bad debts                                    5,000                -
Decrease in accounts receivable                           67,308                -
Decrease in other assets                                   2,625                -
Increase in accounts payable                             100,990                -
Increase in accrued shareholders salaries                601,792          253,000
Decrease in other accrued expenses                      (189,678)               -
                                                   -------------------------------
Net cash used for operating activities                  (278,211)               -
                                                   -------------------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
Equipment purchases                                      (11,005)               -
Proceeds from sale of equipment                          103,351                -
Payment for acquisition                                  (11,543)               -
Software development costs capitalized                   (51,705)               -
                                                   -------------------------------
Net cash provided by investing activities                 29,098                -
                                                   -------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from shareholder loans                          669,500                -
Payments on shareholder loans                           (321,000)               -
Payment of stock subscription receivable                   2,000                -
Repayment of notes payable                               (14,465)               -
Repurchase common shares                                  (1,000)
                                                   -------------------------------
Net cash provided by financing activities                335,035                -
                                                   -------------------------------
Increase in cash                                          85,922                -
Cash, beginning of period                                      -                -
                                                   -------------------------------
Cash, end of period                                $      85,922   $            -
                                                   ===============================
</TABLE>

See accompanying notes to consolidated financial statements


                                                                             F-6
<PAGE>
                      Sequiam Corporation and Subsidiaries

                   Notes to Consolidated Financial Statements

                 For the years ended December 31, 2002 and 2001

1.   SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES

ORGANIZATION AND NATURE OF BUSINESS

Sequiam  Corporation  ("Sequiam"  or  the  "Company")  through  its wholly owned
subsidiaries, Sequiam Software, Inc. and Sequiam Communications, Inc., develops,
markets, and supports a portfolio of Internet and print enterprise-wide software
products  that  enable  users  to  acquire,  manage,  personalize,  and  present
information.  In  addition,  the  Company  provides application service provider
("ASP") hosting of Internet-enabled solutions, Internet service provider ("ISP")
including  Internet access and hosting, consulting, application integration, and
custom web development and software development services. ASP and ISP hosting is
performed  using  the  Company's  software and facilities to provide processing,
print,  mail,  archival,  and  Internet  delivery of documents for customers who
outsource  this  activity.

Effective  April  1,  2002, Sequiam Corporation (f/k/a Wedge Net Experts, Inc.),
through  its  wholly  owned  subsidiary, Sequiam Acquisitions, Inc., merged with
Sequiam,  Inc.  and  Sequiam  Acquisitions,  Inc.  survived  the merger. Sequiam
Acquisitions,  Inc.  changed  its name to Sequiam Software, Inc. on May 1, 2002.
Pursuant  to  the merger agreement, Sequiam Corporation issued 20,000,000 shares
of common stock in exchange for all of the outstanding shares of common stock of
the  Company,  consisting  of  20,000,000 shares.  Additionally, pursuant to the
merger  agreement,  500,000  shares  of  Sequiam Corporation's common stock were
returned to treasury and cancelled.  As a result, the former shareholders of the
Company  obtained  82.53%  of  the  voting  rights  of  Sequiam Corporation. The
transaction  was  accounted for as a recapitalization of Sequiam Corporation and
the  results  of  operations and cash flows presented herein prior to the merger
are those of Sequiam, Inc. Sequiam, Inc. was incorporated in Delaware on January
23, 2001 (date of inception) to research, develop, produce and market a document
management  software  product.

Since inception, the Company's primary activities have consisted of research and
development,  and  software production activities.  Accordingly, the Company had
not  generated  any  significant  revenues,  and  the  Company  was considered a
development  stage  company  at  December  31,  2001.  During  2002, the Company
acquired  the  Brekel  Group,  Inc.  and  Access  Orlando and began offering web
development,  Internet  and  web  hosting and custom software development, while
continuing  its  software  development  activities.

GOING CONCERN AND MANAGEMENTS' PLAN

The  accompanying  financial  statements  have  been  prepared assuming that the
Company  will continue as a going concern, which contemplates the realization of
assets and satisfaction of liabilities in the normal course of business. Sequiam


                                                                               7
<PAGE>
has  accumulated  significant  operating  losses,  a working capital deficit and
produced minimal revenues since inception.   Subsequent to December 31, 2002 and
as  further  described  in Note 8, the Company  obtained financing from La Jolla
Cove  Investors,  Inc. (the "Investor") as well as additional financing from the
sale  of  its  common  stock.  In  addition,  the  Company has begun to generate
revenues  on  a  consistent  basis.

With  the  proceeds  expected to be received from the Investor, the Company will
fund  continuing product development and the marketing of the products developed
by  the Company.  The company will also actively seek new acquisitions of proven
products  and  technologies.  Management  plans  to  continue to seek additional
financing in the form of a private placement of common and preferred stock, debt
or  some  combination  thereof  to supplement its financing arrangement with the
Investor.

With  the  proceeds  from the financings described above along with the expected
increase  in  revenues  from  the  sale  of  the Company's existing products and
services,  the  Company believes there will be sufficient working capital during
the  next  12  months  to  support operations during that period.  The Company's
ability  to  continue  as  a going concern remains dependent upon its ability to
meet  the  requirements of its financing agreement with the Investor and execute
its  business  plan.

MERGER  WITH  BREKEL  GROUP,  INC.

Effective  July  19,  2002 ("date of acquisition"), Sequiam Corporation acquired
94.54%  of  the  issued and outstanding shares of Brekel Group, Inc., a Delaware
corporation ("Brekel"), in exchange for 11,522,263 shares of Sequiam Corporation
common  stock,  pursuant to a Stock Exchange Agreement and Plan of Organization,
dated  June 17, 2002 (the "Agreement"). The shares exchanged were at an exchange
rate  of  1:1. In connection with the merger, the majority shareholder of Brekel
returned 9,500,000 shares leaving 12,229,594 common shares of Brekel outstanding
before  the  exchange  with  Sequiam  Corporation.  Sequiam Corporation acquired
630,998 or 4.84% of the remaining issued and outstanding common shares of Brekel
on  December  16,  2002  for  a total of 12,153,261 shares or 99.38% of Brekel's
issued  and  outstanding common shares.  The acquisition of Brekel was accounted
for  as  a  purchase and the results of operations of Brekel are included in the
accompanying  financial statements since the date of acquisition.  The excess of
the purchase price ($13,575,193) over the estimated fair value of the net assets
acquired  ($888,558) of $12,686,635 was accounted for as a constructive dividend
to  the  Brekel  shareholders.  Goodwill  was  not recognized on the transaction
because  Sequiam  and  Brekel  were  under  common  control.  The  purchase  was
determined  based  on  the  12,153,261  shares  issued  times $1.12, the average
closing  stock  price of Sequiam Corporation common stock on and around June 17,
2002,  the  date  the  agreement  was  signed  and  agreed  to  by  the majority
shareholders.  Under the terms of the agreement, Sequiam repurchased and retired
one  million  of  its  common  shares  from  Brekel  at  par  value.

The  following table summarizes the estimated fair values of the assets acquired
and  liabilities  assumed  at  the  date  of  acquisition.


                                                                               8
<PAGE>
Current and other assets                          $  520,032
Equipment held for disposal                          268,456
Equipment under capital leases held for disposal   1,656,009
Property and equipment                             1,643,962
                                                  ----------
Total assets acquired                              4,088,459
                                                  ----------
Current liabilities                                2,869,583
Long-term debt                                       330,318
                                                  ----------
Total liabilities assumed                          3,199,901
                                                  ----------
Net assets acquired                               $  888,558
                                                  ==========

Sequiam  acquired  Brekel  for its expertise in digital on-demand publishing and
printing  and the innovations that it brings to our document management Internet
remote  print  and print on-demand software applications.  Sequiam also acquired
Brekel  for  its  contract  with the World Olympians Association ("WOA") and its
Internet  and  ExtraNet  expertise  and  product  development  gained  from that
project.  On  November  14,  2002  Sequiam  changed  Brekel's  name  to  Sequiam
Communications,  Inc.  to  better  represent  its role within the Sequiam group.

Brekel  had ceased its print on-demand manufacturing operation that it conducted
under the trade name QuestPrint prior to its acquisition by Sequiam Corporation.
As  a  result $1,885,936 of equipment was returned to the manufacturer on August
1, 2002 and the related capital leases of $1,656,009 were written off.  The loss
on  the  return  of  this  equipment to the lessor of $229,927 reduced equipment
under  capital  leases  held  for  disposal  in  the  Brekel  acquisition.

ACQUISITION  OF  THE  ASSETS  OF  ACCESS  ORLANDO

Effective November 1, 2002 Sequiam Software, Inc., acquired all of the assets of
W.M.W. Communication, Inc., doing business as Access Orlando. The purchase price
of $300,000 is to be paid $150,000 in cash and $150,000 in Sequiam common shares
valued  at the date of closing, of February 13, 2003.  The cash was paid $55,000
on  or  before  closing ($11,542 prior to December 31, 2002) and installments of
$45,000  and $50,000 are due fifteen and ninety days after the February 13, 2003
closing  date.  At  December  31,  2002,  $288,457  was due to Access Orlando in
connection  with this acquisition and was recorded as a current liability in the
accompanying  balance sheet. The acquisition was accounted for as a purchase and
the  purchase  price was allocated $12,000 to computer equipment and $288,000 to
the  software  products  Internet  Remote  Print (IRP) and Internet Remote Print
Duplicator ("IRPlicator").  IRP is a software product that allows computer users
to  print  remotely  to  any  printer  via  the  Internet.
Sequiam  acquired  Access Orlando because IRP is highly complementary to DMS and
we  are  in  the  process of integrating the two products.  Like Sequiam, Access
Orlando  was  engaged  in  software  development,  website development, Internet
hosting  and  collocation  services,  and  is  also an Internet service provider
(ISP).

PRINCIPLES  OF  CONSOLIDATION

The  consolidated  financial  statements  include  the  accounts  of  Sequiam
Corporation  and  its  subsidiaries.  All intercompany transactions and accounts
have  been  eliminated.


                                                                               9
<PAGE>
ALLOWANCE  FOR  DOUBTFUL  ACCOUNTS

We  record  an  allowance for doubtful accounts based on specifically identified
amounts that we believe to be uncollectible. We also record additional allowance
based on certain percentages of our aged receivables, which are determined based
on  historical experience and our assessment of the general financial conditions
affecting  our  customer  base.  If  our  actual collections experience changes,
revisions  to  our  allowance  may  be  required.  We  have  a limited number of
customers  with  individually large amounts due at any given balance sheet date.
Any  unanticipated  change in one of those customer's credit worthiness or other
matters  affecting  the collectibility of amounts due from such customers, could
have  a material affect on our results of operations in the period in which such
changes or events occur. After all attempts to collect a receivable have failed,
the  receivable  is  written  off  against  the  allowance.

PROPERTY  AND  EQUIPMENT

Property and equipment are recorded at cost.  Depreciation is computed using the
straight-line  method  over  the  estimated  useful lives of the related assets,
ranging  from three to five years.  Expenditures for maintenance and repairs are
charged  to  expense  as  incurred.

SOFTWARE  DEVELOPMENT  COSTS

Costs  incurred  to  establish  technological  feasibility  of computer software
products  are  research  and  development  costs  and  are charged to expense as
incurred.  Costs  of  producing  product  masters  subsequent  to  technological
feasibility  are  capitalized.  Capitalization of computer software costs ceases
when the product is available for general release to the customers.  Capitalized
software  costs  are amortized using the straight-line method over the estimated
useful life of the products or the gross revenue ratio method, whichever results
in  the  greater  amount  of amortization.  No amortization was recorded for the
period  from  inception  (January  23,  2001)  through  December  31, 2002 as no
software  had  yet  been  released  to customers and no revenue had been earned.

ACQUIRED  SOFTWARE

In  connection  with  the  acquisition  of  Access Orlando, the Company acquired
Internet  Remote  Print  software  that  was  assigned  a  value  of  $288,000
representing  the  excess  of  the  purchase  price  over  the fair value of the
tangible  assets  acquired.  The  acquired  software is being amortized over its
expected  useful  life  of  five  years.

REVENUE  RECOGNITION

The  Company  derives  revenues from four sources: (i) the sale and licensing of
our  software  products;  (ii)  consulting,  custom  software  services  and web
development  services;  (iii) maintenance agreements in connection with the sale
and  licensing  of  software  products; and (iv) Internet access and web hosting
services.  As  of  December 31, 2002, the Company has not yet generated revenues
from the sale or licensing of software products.   Software license revenue will
be  recognized  when  all  of  the following criteria have been met: there is an
executed  license  agreement,  software  has been delivered to the customer, the


                                                                              10
<PAGE>
license  fee  is  fixed  and  payable within twelve months, collection is deemed
probable  and  product returns are deemed reasonably estimable. Revenues related
to  multiple  element  arrangements  will  be  allocated  to each element of the
arrangement  based  on  the  fair  values  of  elements  such  as  license fees,
maintenance  and  professional  services. Fair value will be determined based on
vendor  specific objective evidence. Maintenance revenues are recognized ratably
over  the  term  of  the  maintenance  contract,  typically  12  to  36  months.
Consulting,  custom  software  and  web development services are recognized when
services are performed.  Internet access and web hosting services are recognized
over  the  period  the  services  are  provided, typically month-to-month.  Cash
received  from  the  customers in advance of amounts earned will be deferred and
recorded  as  a  liability.

INCOME  TAXES

Income  taxes  are  provided for the tax effects of transactions reported in the
financial  statements  and  consist  of  taxes currently due plus deferred taxes
resulting  from  temporary  differences.  Such temporary differences result from
differences  in  the  carrying  value  of  assets  and  liabilities  for tax and
financial reporting purposes.  The deferred tax assets and liabilities represent
the  future  tax consequences of those differences, which will either be taxable
or  deductible  when  the  assets  and  liabilities  are  recovered  or settled.
Valuation  allowances  are  established  when  necessary  to reduce deferred tax
assets  to  the  amount  expected  to  be  realized.

NET  LOSS  PER  COMMON  SHARE

Basic  income  (loss) per common share is computed by dividing net income (loss)
available  to  common  shareholders  by  the  weighted  average  common  shares
outstanding  for the period.  Diluted income (loss) per common share is computed
giving  effect  to all potentially dilutive common shares.  Potentially dilutive
common  shares  may  consist of incremental shares issuable upon the exercise of
stock  options,  adjusted  for  the  assumed  repurchase of the Company's common
stock,  at  the  average  market  price, from the exercise proceeds and also may
include  incremental  shares issuable in connection with convertible securities.
In  periods  in  which  a  net  loss has been incurred, all potentially dilutive
common  shares  are  considered  anti-dilutive  and  thus  are excluded from the
calculation.  As  of  December 31, 2002, the Company had no potentially dilutive
common  shares.

FAIR  VALUE  OF  FINANCIAL  INSTRUMENTS

Fair  value estimates discussed herein are based upon certain market assumptions
and  pertinent information available to management as of December 31, 2002.  The
respective  carrying  value  of  certain  on-balance-sheet financial instruments
approximated their fair values.  These financial instruments include cash, trade
receivables,  accounts  payable,  accrued  expenses and loans from shareholders.
The  fair  value  of  the Company's long-term debt is established based upon the
quoted  market  prices  for  the  same or similar issues or on the current rates
offered  to  the  Company  for  debt  of  the  same  remaining  maturities.


                                                                              11
<PAGE>
USE  OF  ESTIMATES

The preparation of financial statements in conformity with accounting principles
generally  accepted  in  the United States requires management to make estimates
and  assumptions  that  affect the reported amounts of 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.

RECLASSIFICATION

Certain  reclassifications  have  been  made to the 2001 financial statements to
conform  with  the  2002  presentation.

RECENT  ACCOUNTING  PRONOUNCEMENTS

In  June  2001,  the  Financial  Accounting  Standards Board issued Statement of
Financial  Accounting  Standards  No.  143  ("FAS  143"),  Accounting  for Asset
Retirement  Obligations, effective for the fiscal years beginning after June 15,
2002.  This  statement provides the accounting for the cost of legal obligations
associated with the retirement of long-lived assets.  FAS 143 also requires that
companies  recognize  the  fair  value  of  a  liability  for  asset  retirement
obligations  in  the period in which the obligations are incurred and capitalize
that  amount  as a part of the book value of the long-lived asset.  That cost is
then  depreciated  over  the  remaining life of the underlying long-lived asset.
The  Company does not expect SFAS 143 to have a material impact on its financial
condition  and  results  of  operations.

In July 2002, the Financial Accounting Standards Board ("FASB") issued Statement
of  Financial  Accounting  Standards  ("SFAS")  No.  146  "Accounting  for Costs
Associated  with  Exit  or  Disposal  Activities," which is effective January 1,
2003.  SFAS  146  provides  than  an  exit  cost  liability should not always be
recorded  at  the  date  of  an entity's commitment to an exit plan, but instead
should be recorded when the obligation is incurred.  An entity's commitment to a
plan,  by  itself,  does not create an obligation that meets the definition of a
liability.  The  Company  does  not expect SFAS 146 to have a material impact on
its  financial  condition  and  results  of  operations.

2.  PROPERTY  AND  EQUIPMENT

Property and equipment consist of the following at December 31:

                                        2002       2001
                                     ----------  ---------
      Leasehold improvements         $1,126,769  $      -
      Office furniture and fixtures     395,398    40,748
      Computer equipment                127,294    21,112
      Purchased software                192,213    19,632
                                     ---------------------
                                      1,841,674    81,492
      Less accumulated depreciation     466,276   (11,696)
                                     ---------------------
                                     $1,375,398  $ 69,796
                                     =====================


                                                                              12
<PAGE>
3.   LOANS  FROM  SHAREHOLDERS

On  February  1,  2002,  Mark  Mroczkowski,  the  Chief  Financial Officer and a
shareholder of the Company, loaned Sequiam Communications, Inc. (formerly Brekel
Group,  Inc.) $50,000.  Interest is payable at 6%.  As of December 31, 2002, the
balance  due  under  this  loan  was  $50,000  together with accrued interest of
$2,750.

Nicholas  VandenBrekel, the President and Chief Executive Officer of Sequiam and
shareholder  of  the  Company,  has  advanced  money  to Sequiam Corporation and
Sequiam  Software,  Inc. under demand notes.  At December 31, 2002, Sequiam owed
approximately  $670,450  on  these  notes,  including  accrued  interest  of
approximately  $5,324.  The term notes bear interest at 2% per annum and are due
on  demand.

A  shareholder not employed by the Company advanced $75,000 to the Brekel Group,
Inc. on March 1, 2002.  The terms of the demand note include interest payable at
6%  and  a  right  to  convert the note at $1.00 per share.  Accrued interest at
December  31,  2002  was  $3,750.

Included  in  accounts  payable  and  accrued  expenses at December 31, 2002 are
un-reimbursed  business  expenses  of  $26,084  and  $17,826  owed  to  Nicholas
VandenBrekel  and  Mark  Mroczkowski,  respectively.

From the date of inception (January 23, 2001) through April 30, 2002, The Brekel
Group,  Inc., made short-term advances to the Company through the payment of all
of  the  Company's  operating  and  investing expenses.  There were no specified
repayment  terms and the advances were non-interest bearing.  As of December 31,
2001,  amounts  due  to  Brekel amounted to $627,718.  All amounts due to Brekel
were eliminated upon the Company's acquisition of Brekel effective July 19, 2002
(see  Note  1).

4.   INCOME  TAXES

We  have  estimated  net operating loss carryforwards ("NOLs")for federal income
tax  purposes  of  approximately  $9,057,000  at  December  31,  2002.These  net
operating  losses  can  be  carried  forward  and applied against future taxable
income, if any, and expire in the years 2020 through 2022.  However, as a result
of  certain  acquisitions,  the  use  of  these  NOLs  may  be limited under the
provisions  of  section  382  of  the Internal Revenue Code. Treasury Regulation
1.1502-21  regarding  separate  return  limitation years may further limit these
NOLs.

The  following is a reconciliation of income taxes at the federal statutory rate
of  34%  to  the  provision  for  income  taxes  as reported in the accompanying
consolidated  statement  of  operations:


                                                                              13
<PAGE>
<TABLE>
<CAPTION>
                                                                                Period from
                                                                                 inception
                                                                               (January 23,
                                                                 Year ended    2001) through
                                                                  December     December 31,
                                                                  31, 2002         2001
                                                                ------------  ---------------
<S>                                                             <C>           <C>
Income tax benefit computed at the federal statutory rate       $  (490,100)  $     (248,500)
Deferred tax asset acquired                                      (2,631,600)               -
State income tax benefit, net of federal benefit                   (333,200)         (26,500)
Increase in valuation allowance                                   3,454,900          275,000
                                                                -----------------------------
Income tax expense (benefit)                                    $         -   $            -
                                                                =============================

The components of the deferred income tax asset and liability are as follows at December 31,

Deferred tax assets:                                                   2002             2001
                                                                -----------------------------
Accrued shareholder salaries                                    $   321,700   $       95,300
Net operating loss carryforward                                   3,408,200          179,700
Valuation allowance                                              (3,729,900)        (275,000)
Net deferred tax assets                                         $         -   $            -
                                                                =============================
</TABLE>

Valuation  allowances  are provided against deferred tax assets if, based on the
weight of available evidence, it is more likely than not that some or all of the
deferred  tax  assets  will  not  be  realized.  The  Company  has evaluated the
realizability  of  the  deferred  tax  assets  on  its  balance  sheets  and has
established  a  valuation  allowance in the amount of $3,729,900 against its net
deferred  tax  assets  at  December 31, 2002.  The valuation allowance increased
$3,454,900  and $275,000 during the year ended December 31, 2002 and period from
inception  through  December  31,  2001,  respectively.

5.   LONG-TERM  DEBT  AND  LEASE  COMMITMENT

On  July  1,  2001, the Brekel Group, Inc., prior to its acquisition by Sequiam,
entered  into  an  operating lease agreement to rent approximately 60,000 square
feet  of  combined  office  and  manufacturing  space  through  June  30,  2011.
Effective  July  1,  2002, Brekel entered into a lease forbearance agreement for
10,000  square  feet  of  the  same  space  for the remaining term of the lease.
Pursuant  to  the  forbearance  agreement,  the  Company makes monthly base rent
payments  including  common  area  maintenance  charges  of  $9,633, with annual
increases  of  approximately 3% per year beginning in July 2004.  As part of the
lease forbearance agreement, the Company executed a note payable to the landlord
to  reimburse them for lost rents on the 50,000 square feet relinquished to them
through  June 30, 2004; less rents and principal payments received from us; less
75% of any rents received from replacement tenants; plus any leasing commissions
or  tenant  build  out  costs  required  for replacement tenants.  The note also
includes  amounts  previously  owed  by  Brekel  to  the  landlord  for  tenant
improvements.  The  outstanding  balance  on the note of $680,540 as of December
31,  2002  represents  $282,560  of  deferred  rent  and  $397,980  of  tenant
improvements.  Payments  on  the  note  commence  July 1, 2004 and are amortized
through  June  1,  2010  with  interest  at  6%.


                                                                              14
<PAGE>
Rental expense for the year ended December 31, 2002 was $376,118 and $27,069 for
the period from inception through December 31, 2001.  The minimum future rentals
required  under  the  operating  lease  and the maturities of the long-term note
payable  are  as  follows:


Year                                                    Rentals   Maturities
----------                                              --------  -----------
2003                                                    $115,600  $         0
2004                                                     117,334       50,997
2005                                                     120,854       99,606
2006                                                     124,480      105,749
2007                                                     128,214      112,272
Thereafter                                               339,169      311,916
                                                        ---------------------
                                                        $945,651  $   680,540
                                                        =====================

6.   COMMITMENTS  AND  CONTINGENCIES

On  October  1,  2002, the Companies Chief Executive Officer and Chief Financial
Officer  entered  into  amended  and restated employment agreements with Sequiam
Corporations  and  its  Subsidiaries.  The  amended  agreements replace separate
agreements  with  Sequiam,  Inc.  and Brekel Group, Inc.  The agreements have an
initial  term  of  two  years  with automatic one-year renewals.  The agreements
provide  for  compensation in the form of minimum annual salary of  $185,000 and
$175,000 respectively, and allow for bonuses in cash, stock or stock options and
participation  in  Company benefit plans.  Full time employment is a requirement
of  the  contract.  In  the event that a change in control of the Company occurs
without  the  prior approval of the then existing Board of Directors, then these
contracts will be deemed terminated and compensation of $5 million is payable at
termination  and  $1  million  annually for five years subsequent to termination
will  be  due  and  payable  to  each  Employee.

The  Company  is  involved in various claims and legal actions incidental to the
normal  conduct  of its business.  On or about October 3, 2002, General Electric
Capital  Corporation  ("GE")  filed  a  lawsuit  against  Brekel  Group,  Inc.
("Brekel"),  in  the Circuit Court of the 9th Judicial Circuit in and for Orange
County,  located  in  Orlando, Florida.  GE claims that Brekel owes a deficiency
balance  in the amount of $93,833 for three digital copiers rented under a lease
agreement.  Brekel  has  returned  possession  of  the copiers to GE, but Brekel
disputes  the  claim  for  damages.  The court has entered no decisions to date.
The  Company does not believe that the ultimate resolution of these actions will
have  a  material  adverse  effect  on  the  Company based upon the value of the
equipment  returned  to  GE.

Brekel  entered  into  a note payable with Xerox Corporation in November 2000 to
finance  equipment.  Brekel  also  entered  into  a  Document Services Agreement
("Agreement")  with  Xerox  Corporation  on November 1, 1999 commencing April 1,
2000.  During  the  63-month  term  of the Agreement ending June 30, 2005, Xerox
agreed  to  provide  equipment  and  services  in  accordance  with  specified
performance  standards.  Those  standards  include,  among  other  things,  a
performance  satisfaction  guaranty by Xerox.  Under the terms of that guaranty,
Brekel  may  terminate  the  agreement  without  incurring any early termination
charges.  Brekel  did  in March 2001 give proper notice of such termination.  On
September  3,  2002  Xerox  did,  contrary to the contract, assert its claim for
early  termination  charges  and for monthly minimum service charges on billings
made after the termination date.  The Company disputes these claims and believes
them  to  be  without  merit.


                                                                              15
<PAGE>
A  competing  web-development company has posted an alternative web site for the
WOA,  claiming  such  right  was  granted  to  it by the WOA.  We are seeking to
resolve  this  conflict with the WOA without resort to litigation.  This dispute
will  not  affect our publication of the print magazine "World Olympian," but it
has the potential to result in the loss of revenue from the WOA web site.  We do
not believe the loss of such revenue will have a material, adverse effect on our
overall  business.

7.   SUPPLEMENTAL  CASH  FLOW  INFORMATION

<TABLE>
<CAPTION>
                                                                                             Period from
                                                                                              inception
                                                                                             (January 23,
                                                                              Year ended    2001) through
                                                                             December 31,    December 31,
                                                                                 2002            2001
                                                                             -------------  --------------
<S>                                                                          <C>            <C>
Supplemental cash flow information:
----------------------------------
Cash paid for interest                                                              11,563               -

Non-cash investing and financing activities:
-------------------------------------------
Disbursements paid by related party for operating and investing activities   $      89,440  $      627,718
Subscription receivable for common shares                                                -  $        2,000
Common shares issued for acquisition of Brekel Group, Inc.                   $  13,575,193               -
Net assets acquired from Brekel (see Note 1)                                 $     888,558               -
Return of leased equipment and capital lease obligation                      $   1,656,009               -
Amount due for assets acquired from Access Orlando (see Note 1)              $     288,457               -
</TABLE>

8.   SUBSEQUENT  EVENTS

Sequiam  entered  into  a  Securities  Purchase  Agreement  with  La  Jolla Cove
Investors,  Inc.  (the  "Investor"),  dated March 5, 2003, pursuant to which the
Company  delivered  to  Investor  an  8%  Convertible Debenture in the amount of
$300,000,  convertible  into  its common stock, and a Warrant to Purchase Common
Stock that permits the Investor to purchase up to ten times the number of shares
of  stock  issued  upon  conversion  of  the  debenture,  for a maximum price of
$9,000,000.  At closing of this financing on March 7, 2003, the Company received
$150,000 of the principal amount of the debenture, less Investor's attorney fees
of  $2,500.

Under  the terms of the debenture, warrant and related documents, the conversion
price  is  the  lesser  of  $0.50  per  share  or 80% of market value ("Discount
Multiplier"),  but  the  company  has the option of prepaying any portion of the
debenture  prior  to conversion if the conversion price is equal to or less than
$0.50.  The  Investor  may  convert  a  maximum of 10% of the principal into our
common  stock  during  any  month.


                                                                              16
<PAGE>
The  Investor  also  received  warrants to purchase up to 10 times the number of
shares  of  our  common  stock  issued  upon  conversion of the debenture, at an
exercise  price  of the lesser of 80% of market value or $1.50 per share, but in
no  event  less  than  $0.50.  These warrants could raise up to an additional $9
million  for  the  company  if exercised.  As of the date of filing this report,
Investor had not converted any portion of the debenture, and no shares of common
stock have been issued.  The total number of shares of common stock to be issued
to the Investor depends upon the market price of stock at the time the debenture
is  converted.

Sequiam  is  obligated to register the sale of the underlying common stock to be
issued  upon  conversion of the debenture and the exercise of the warrant.  Upon
the  effective  date  of  the  registration,  we will receive the balance of the
principal  amount  of  the  debenture, $150,000.  Following the effectiveness of
such  registration statement, we have the right to cause the Investor to convert
up to 5% of the debenture and exercise the related warrants (10 times the number
of  shares  of  common  stock),  per  month.

The  Company  agrees  that  it  will not pay any accrued salaries or shareholder
loans  that  are  presently outstanding until after the Convertible Debenture is
paid in full, except to the extent that any such accrued salaries or shareholder
loans  are  used to perform obligations under the Put and Call Agreement between
Nick  VandenBrekel,  Mark  Mroczkowski  and  the Investor or are paid out of the
proceeds  of  additional  financing  obtained  by  the  Company.

In  the  event the Registration Statement has not been filed with the SEC by the
deadline  imposed by the Investor then the Discount Multiplier shall decrease by
three  percentage  points  (3%)  for each month or partial month occurring after
the  deadline  that  the  Registration  Statement  is  not  filed.

On  February 6, 2003, we sold an aggregate of 266,667 shares of our common stock
to  one  accredited  investor  at  a  price  of  $0.75 per share for proceeds of
$200,000.  In  connection  with  such  sales  we  relied  on  the exemption from
registration  provided  by  Section  4(2)  of  the  Securities Act of 1933.  The
investor  represented  in  writing  that  the  shares  were  being  acquired for
investment  and,  in  addition,  the certificates representing the shares bear a
restrictive  securities  legend.


                                                                              17
<PAGE>
ITEM 8.   CHANGES  IN  AND  DISAGREEMENTS  WITH  ACCOUNTANTS  ON  ACCOUNTING AND
FINANCIAL  DISCLOSURE.

a)  Effective  as  of June 12, 2002, we terminated the services of our principal
independent  public  accountants, Cordovano and Harvey, P.C., 201 Steele Street,
Suite  300,  Denver,  Colorado  80206  (the  "Former  Accountant").

i.  We  dismissed  the  Former  Accountant.

ii.  No  adverse  opinion  or disclaimer of opinion was made during the past two
years  by  the  Former  Accountant,  and no opinion of the Former Accountant was
qualified  or  modified as to uncertainty, audit scope or accounting principals.

iii.  The  change  in  auditors  was  recommended  by  our  Board  of Directors.

iv.  During  the  two  most recent fiscal years and the interim period preceding
such dismissal, we are not aware of any disagreements with the Former Accountant
on  any  matter  of  accounting  principals  or  practices,  financial statement
disclosure,  or  auditing  scope  or  procedure,  which  disagreement(s), if not
resolved  to  the satisfaction of the Former Accountant, would have caused it to
make  references to the subject matter of the disagreement(s) in connection with
its  report.

v.  We  are not aware of any reportable events that have occurred during the two
most  recent  fiscal years and the interim period preceding the dismissal of the
Former  Accountant.

b)  Effective  as  of June 12, 2002, we engaged the accounting firm of Gallogly,
Fernandez  & Riley, LLP, 201 S. Orange Avenue, Suite 950, Orlando, Florida 32801
(the  "New  Accountant")  as our new independent public accountants. We have not
consulted  with the New Accountant during the two most recent fiscal years ended
December  31,  2001  and  2000 or during the subsequent interim reporting period
from  the  last  audit  date  of  December  31,  2001, through and including the
termination  date  of  June  12,  2002  on  either the application of accounting
principles  or  type  of opinion the New Accountant might issue on our financial
statements.

                                    PART III

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

The  following  table  sets  forth the name, age and position of each person who
currently  serves as a director and/or officer of our Company as of December 31,
2002.  Our  directors  serve  for  an  indefinite  term that expires at the next
regular annual meeting of our shareholders, and until such directors' successors
are  elected  and  qualified.

<TABLE>
<CAPTION>
Name                      Age                 Position
------------------------  ---  ---------------------------------------
<S>                       <C>  <C>
Nicholas H. VandenBrekel   38  Chairman, President and CEO; Director
Mark L. Mroczkowski        49  Senior Vice President and CFO; Director
</TABLE>


                                                                              18
<PAGE>
Nicholas  VandenBrekel  is  the founder of Sequiam Corporation and serves as its
President,  CEO  and  Chairman.  Mr. VandenBrekel has an extensive background in
both  military service as well as entrepreneurial venues.  He is a native of the
Netherlands  and a permanent resident of the United States. During the last five
years  Mr. VandenBrekel has been the President and CEO of Brekel Group, Inc. for
the  last  two  years and was the President of Sequiam, IncIn the course of his
assignments,  he  has been responsible for all aspects of, business development,
teaching  and  operations,  including  strategic  planning,  product and service
development,  marketing,  and  sales  and  staff development.  He speaks several
languages  and  has  been  a  public  speaker  for many years.  Mr. VandenBrekel
continuously  displays  a  strong  ability to merge both North American business
culture  with that of Europe and the Far East.  Mr. VandenBrekel has a degree in
communications  from  the  OPS  Academy Royal Netherlands Navy and is a licensed
Helicopter  Aviator.  He  also holds degrees and diplomas in electronics and the
martial  arts.  Nick  received  the  2001 businessman of the year award from the
National  Republican  Congressional  Committee's  Business  Advisory  Council.

Mark  Mroczkowski  has  served  as  Senior  Vice  President  and CFO for Sequiam
Corporation  since its inception in 2001 and as CFO for Brekel Group, Inc. since
June  2000.  He  brings to the company an extensive background as CFO and senior
manager of other organizations. Prior to Sequiam and Brekel, Mr. Mroczkowski was
the  Chief  Financial Officer of GeoStar Corporation from 1994 until 2000.  From
1975  until 1994, Mr. Mroczkowski practiced public accounting with several large
accounting  firms  and  ultimately  formed his own successful firm. During those
years  he  also  founded  or  co-founded  and  managed  several other profitable
ventures  both  domestically  and internationally.  Mr. Mroczkowski holds a B.S.
degree  in  Accounting  from  Florida State University, he is a Certified Public
Accountant licensed in Florida and a licensed commercial pilot.  He has a strong
background  in  finance  and  financial management from his twenty-five years of
practice.  He  managed  private  placements, debt financing and IPO preparations
for  a  number  of  firms.  He  has  also  managed  audit,  tax  and  consulting
engagements  for  a  variety  of  organizations.

Mr.  Mroczkowski  is  our  audit  committee  financial  expert  and  he  is  not
independent.

ITEM  10.  EXECUTIVE  COMPENSATION.

The following table sets forth all cash compensation paid or accrued by Sequiam,
as well as certain other compensation, paid or accrued, during each of Sequiam's
last  two fiscal years to the Chief Executive Officer and to the other executive
officers  whose total annual salary and bonus paid or accrued exceeded $100,000.
Directors  who  are  also  employees  receive no compensation for serving on the
Board.

<TABLE>
<CAPTION>
                                                               Long Term      All Other
                                                              ------------  -------------
Name and Position         Year  Annual Salary   Annual Bonus  Compensation  Compensation
------------------------  ----  --------------  ------------  ------------  -------------
<S>                       <C>   <C>             <C>           <C>           <C>

Nicholas VandenBrekel,
President, CEO, Chairman  2001  $      137,500           -0-           -0-  $       8,400
                          2002  $      158,750           -0-           -0-  $      14,400

Mark Mroczkowski, Senior
Vice President, CFO       2001  $      137,500           -0-           -0-  $       7,200
                          2002  $      156,250           -0-           -0-  $       8,000
</TABLE>


                                                                              19
<PAGE>
None  of  the  annual  salary  amounts shown above were paid in 2001 or 2002 and
remain  accrued  at  December  21,  2002.

     On  October  1,  2002,  Mr.  VandenBrekel  and Mr. Mroczkowski entered into
amended  and  restated  employment  agreements  with Sequiam Corporation and its
Subsidiaries.  The  amended agreements replace separate agreements with Sequiam,
Inc.  and  Brekel  Group, Inc.  The agreements have an initial term of two years
with  automatic  one-year  renewals.  The agreements provide for compensation in
the  form  of  minimum annual salary of  $185,000 and $175,000 respectively, and
allow  for  bonuses  in  cash,  stock  or stock options and participation in our
benefit  plans.  Full  time  employment is a requirement of the contract. In the
event that a change in control of our Company or its subsidiaries occurs without
the prior approval of the then existing Board of Directors, then these contracts
will  be  deemed  terminated  and  termination  compensation  consisting of a $5
million  Lump  Sum Cash Payment together with five annual payments of $1 million
will  be  payable  to  each  Employee.

ITEM  11.  SECURITY  OWNERSHIP  OF  CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
RELATED  STOCKHOLDER  MATTERS.

The  table  below  sets  forth,  as  of  March 7, 2003, certain information with
respect  to  the  beneficial ownership of our common stock by each person who we
know  to  be  beneficial  owner  of  more  than 5% of any class or series of our
capital  stock,  each  of the directors and executive officers individually, and
all  directors  and  executive  officers  as  a  group.

<TABLE>
<CAPTION>
                                   Shares Beneficially  Percentage of Shares
               Name                       Owned           Beneficially Owed
---------------------------------  -------------------  ---------------------
<S>                                <C>                  <C>
Nicholas VandenBrekel                       18,325,000                50,750%
Mark Mroczkowski                             4,957,000                13,730%
Officers and Directors as a group           23,282,000                64.480%
Optimix Technology Fund, N.V.                2,666,666                 7.386%
</TABLE>

ITEM 12.  CERTAIN  RELATIONSHIPS  AND  RELATED  TRANSACTIONS.

On  February  1,  2002,  Mark  Mroczkowski,  the  Chief  Financial Officer and a
Director  of Sequiam, loaned Sequiam $50,000.  Interest is payable at 6%.  As of
December  31,  2002,  the  balance due under this loan was $50,000 together with
accrued  interest  of  $2,750.

Nicholas  VandenBrekel, the President and Chief Executive Officer of Sequiam and
one  of  our Directors, has advanced money to Sequiam under demand notes.  As of
the end of fiscal year 2002, Sequiam owed approximately $669,500 on these notes,
including  accrued  interest  of  approximately  $5,324.  The  term  notes  bear
interest  at  2%  per  annum  and  are  due  on  demand.

We  have  employment  agreement  with  Mr.  VandenBrekel  and Mr. Mroczkowski as
described  in  Item  10.  Mr.  L.  Alan  McGinn  was hired as the CTO of Sequiam
Software, Inc. pursuant to an Employment Agreement with L. Alan McGinn, dated as
of December 1, 2002, a copy of which is included as Exhibit 10.7 of this report.
We  entered into the Employment Agreement with Mr. McGinn to satisfy a condition
to  the  acquisition  of  the  assets  of  W.M.W.  Communications,  Inc. (Access


                                                                              20
<PAGE>
Orlando),  and  as a result of this acquisition, we issued 318,471 shares of our
common  stock (0.882%) to W.M.W. Communications, Inc.  Mr. McGinn is an officer,
director  and majority stockholder of W.M.W. Communications, Inc., and therefore
he  is  deemed  to  be the beneficial owner of such 318,471 shares of our common
stock.

Mr.  McGinn  did  not  report  to  work,  and  therefore  did  not begin to earn
compensation,  until  March 1, 2003.  Pursuant to our agreement with Mr. McGinn,
he will earn a base salary of $75,000, and we are obligated to adopt a qualified
stock  option  plan  for  our  senior  executive  officers that will include the
following stock options to Mr. McGinn: 500,000 shares of our common stock, to be
vested  one-third (1/3) at the end of twelve (12) months, and one-third (1/3) at
the  end  of  each subsequent twelve-month period.  Each option will expire five
(5)  years  after  we adopt the plan.  The option price per share will equal the
average  closing  trading  price  per  share for the ten (10) day trading period
immediately  preceding  the  granting  of  the  options.  If  we  do not adopt a
qualified  stock  option  plan  by  June  30,  2003,  the  employee may elect to
participate  in  a  plan  adopted  after  June  30,  2003,  or,  receive  a cash
compensation payment intended to similarly compensate Mr. McGinn as if the stock
option  plan  had  been  adopted.

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

(a)  Exhibits required by Item 601 of Regulation S-B.

2.1       Agreement  and  Plan  of  Merger,  dated  March  1,  2002,  is  hereby
          incorporated  by  this  reference to Exhibit 2.1 to our Form 8-K filed
          with  the  Securities  and  Exchange  Commission  on  April  16, 2002.

2.2       Stock  Exchange  Agreement  and  Plan  of Reorganization among Sequiam
          Corporation  and  the  Shareholders  of Brekel Group, Inc., dated June
          17,2002,  is  hereby  incorporated by this reference to Exhibit 2.1 to
          our  Form  8-K  filed  with  the Securities and Exchange Commission on
          August  6,  2002.

3.1       Articles  of  Incorporation  of  Wedge  Net  Experts, Inc., are hereby
          incorporated  by  this reference to Exhibit 3.1 to our Form SB-2 filed
          with  the  Securities  and  Exchange Commission on September 13, 2000.

3.2       Certificate  of  Amendment  to  Articles of Incorporation of Wedge Net
          Experts,  Inc.,  dated  April 29, 2002, is hereby incorporated by this
          reference  to Exhibit 3.1 of our Form 10-QSB filed with the Securities
          and  Exchange  Commission  on  May  20,  2003.

3.3       Wedge  Net  Experts,  Inc.  Bylaws,  are  hereby  incorporated by this
          reference  to  Exhibit  3.2 to our Form SB-2 filed with the Securities
          and  Exchange  Commission  on  September  13,  2000,

3.4       Amendment  to  our Bylaws, dated July 18, 2002, is hereby incorporated
          by  this  reference  to  Exhibit 3.1 to our Form 10-QSB filed with the
          Securities  and  Exchange  Commission  on  August  14,  2002

10.1      Demand  Promissory Note made by Sequiam, Inc. (a/k/a Sequiam Software,
          Inc.) payable to Nicholas H. VandenBrekel, dated June 30, 2002, in the
          principal amount of $301,000, is hereby incorporated by this reference


                                                                              21
<PAGE>
          to  Exhibit  10.1  to  our Form 10-QSB/A filed with the Securities and
          Exchange  Commission  on  February  20,  2003.

10.2      Demand  Promissory  Note  made  by  Sequiam  Software, Inc. payable to
          Brekel  Group,  Inc.  (a/k/a Sequiam Communications, Inc.), dated June
          30,  2002, in the principal amount of $396,158, is hereby incorporated
          by  this reference to Exhibit 10.2 to our Form 10-QSB/A filed with the
          Securities  and  Exchange  Commission  on  February  20,  2003.

10.3      Amended  and  Restated Employment Agreement ~ Nicolaas Van den Brekel,
          dated  as  of  October  1,  2002.

10.4      Amended and Restated Employment Agreement ~ Mark Mroczkowski, dated as
          of  October  1,  2002.

10.5      Employment  Agreement  ~  Nicholas  VandenBrekel, dated as of March 1,
          2002,  is hereby incorporated by this reference to Exhibit 10.1 to our
          Form  10-QSB  filed with the Securities and Exchange Commission on May
          20,  2002.

10.6      Employment Agreement ~ Mark Mroczkowski, dated as of March 1, 2002, is
          hereby  incorporated  by  this  reference  to Exhibit 10.2 to our Form
          10-QSB  filed  with  the Securities and Exchange Commission on May 20,
          2002.

10.7      Employment  Agreement  ~  Alan  McGinn  dated  as of December 1, 2002.

10.8      Lease Agreement ~ East Group Properties, L.P. dated December 31, 2000.

10.9      Forbearance  Agreement ~ East Group Properties, L.P. effective July 1,
          2002.

16.1      Letter  on  change  in  certifying  accountant.

20.1      Our  Statement Regarding Change in Majority of Directors [Rule 14f-1],
          filed  with  the Securities and Exchange Commission on April 19, 2002,
          is  hereby  incorporated  by  this  reference.

21.1      Subsidiaries

22.1      Notice of Special Meeting of Shareholders to Be Held July 18, 2002, is
          hereby  incorporated  by  this  reference  to Exhibit 22.1 to our Form
          10-QSB  filed  on  August  14,  2002.

99.1      Certification  of  Chief Executive Officer and Chief Financial Officer
          Pursuant  to  18  U.S.C.  Section  1350.


                                                                              22
<PAGE>
(b)  Reports  on  Form 8-K:  The following reports on Form 8-K were filed during
the  quarter  ending  December  31,  2002:

     Form  8-K/A  filed  on October 8, 2002, regarding acquisition of the Brekel
Group,  Inc.,  including  audited financial statements of Brekel Group, Inc. for
the  fiscal years ending December 31, 2000, and December 31, 2001, and unaudited
financial  statements  for  the  six-month  period  ending  June  30,  2002.

ITEM 14.  CONTROLS  AND  PROCEDURES

We  maintain disclosure controls and procedures that are designed to ensure that
information  required  to  be  disclosed  in our periodic reports filed with the
Securities  and  Exchange  Commission  (the  "SEC")  is  recorded,  processed,
summarized and reported within the time periods specified in the rules and forms
of  the SEC and that such information is accumulated and communicated to the our
management.  Based the most recent evaluation by our Chief Executive Officer and
Chief  Financial  Officer,  which  was completed within 90 days of the filing of
this  Annual  Report on Form 10-KSB, we believe that the our disclosure controls
and procedures (as defined in Rules 13a-14 and 15d-14 of the Securities Exchange
Act of 1934, as amended) are effective. There were no significant changes in the
our  internal controls or in other factors that could significantly affect these
internal  controls  subsequent  to  the  date  of  the  most  recent evaluation.

                                   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.


SEQUIAM CORPORATION


Date: March 26, 2003

By: /s/ Nicholas H. VandenBrekel
-------------------------------------------------
Nicholas H. VandenBrekel, Chief Executive Officer


By: /s/ Mark Mroczkowski
-------------------------------------------------
Mark L. Mroczkowski, Chief Financial Officer


                                                                              23
<PAGE>
CERTIFICATIONS PURSUANT TO 15D-14

                                CERTIFICATION OF
                             CHIEF EXECUTIVE OFFICER
                               PURSUANT TO 15D-14
                          ---------------------------

I, Nicholas H. VandenBrekel, certify that:

1.     I have reviewed this annual report on Form 10-KSB of Sequiam Corporation;

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  officer  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


                                                                          Page 1
<PAGE>
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:  March 26, 2003


/s/ Nicolaas H. Van den Brekel
------------------------------
Nicholas  H.  VandenBrekel
Chief  Executive  Officer


                                                                          Page 2
<PAGE>
                                CERTIFICATION OF
                             CHIEF FINANCIAL OFFICER
                               PURSUANT TO 15D-14

                          ---------------------------

I, Mark L. Mroczkowski, certify that:

1.     I have reviewed this annual report on Form 10-KSB of Sequiam Corporation;

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  officer  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


                                                                          Page 3
<PAGE>
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:  March 26, 2003


/s/ Mark L. Mroczkowski
-----------------------
Mark L. Mroczkowski
Chief Financial Officer


                                                                          Page 4
<PAGE>