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**UNITED STATESSECURITIES AND EXCHANGE COMMISSION** Washington, D.C. 20549

FORM 20-F/A

(Mark One)** ̈******
  Registration statement pursuant to Section 12(b) or 12(g) of the Securities
  Exchange Act of 1934
  or **x**   Annual
  Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  
  for the fiscal year ended March 31, 2003or ** ̈****** Transition Report pursuant
  to Section 13 or 15(d) of the Securities Exchange Act of 1934 [No fee required]
  For the transition period from ___________________ to __________________

Commission file number0-30858

**NETTRON.COM, INC.** (Exact name of registrant as specified in its charter)

**Province of Alberta, Canada**
  (Jurisdiction of incorporation or organization)

**#208  828 Harbourside Drive, North Vancouver,
  British Columbia, Canada V5Z 4B5**
  (Address of principal executive offices) (Zip Code)

Registrants telephone number, including area code **(604)
  904-8481**

Securities registered or to be registered pursuant to Section
  12(b) of the Act.

|Title of each class | Name of each exchange on which registered
|------------------- | -----------------------------------------
|**None**            | **TSX Venture Exchange (TSX-V)**         

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

**Common Shares, no par value**
  (Title of Class)

i

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Securities for which there is a reporting obligation pursuant
  to Section 15(d) of the Act: **None**
  (Title of Class)

Indicate the number of outstanding shares of each of the issuers
  classes of capital or common shares at March 31, 2003 6,435,374 .

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

Indicate by check mark which financial statement item the Registrant
  has elected to follow. Item 17 x
  Item 18 ** ̈**.

Unless otherwise indicated, all references herein are expressed
  in Canadian dollars and United States currency is stated as U.S.$ __________
  .

THIS SUBMISSION SHOULD BE CONSIDERED IN CONJUNCTION WITH
  PREVIOUSLY FILED FORMS 20-F. THE AUDITED FINANCIAL STATEMENTS AND NOTES HERETO
  ATTACHED ARE AN INTEGRAL PART OF THIS SUBMISSION.

ii

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**Nettron.Com, Inc.**

This Amendment No. 1 is being filed due to a clerical error
  that occurred during the filing of Form 20-F on September 30, 2003, which resulted
  in the Audit reports of the predecessor auditor not being filed for the comparative
  periods for the years ended March 31, 2002 and March 31, 2001 in Item 17. Accordingly,
  we include in this Amendment No. 1 the Audit reports of the successor auditor
  for the year ended March 31, 2003; and the predecessor auditor for the years
  ended March 31, 2002 and 2001, together with the financial statements referred
  to in those Audit reports.

ITEM 17. FINANCIAL STATEMENTS

The financial statements and notes thereto as required by
  Item 17 are attached hereto and found immediately after the text of this Amendment
  No. 1 to Form 20-F Annual Report.

Auditors Reports.Comments by Auditors for U.S. Readers on Canada 
  U.S. Reporting Differences.
  Consolidated Financial Statements. Consolidated Balance Sheets as at March 31, 2001, 2000
  and 1999.Consolidated Statements of Operations and Deficit for
  the years ended March 31, 2001, 2000 and 1999.Consolidated Statements of Cash Flows for the years ended
  March 31, 2001, 2000 and 1999.Summary of Significant Accounting Policies.Notes to the Consolidated Financial Statements.

Auditors Reports.Comments by Auditors for U.S. Readers on Canada 
  U.S. Reporting Differences.
  Consolidated Financial Statements.Consolidated Balance Sheets as at March 31, 2002, 2001
  and 2000.Consolidated Statements of Operations and Deficit for
  the years ended March 31, 2002, 2001 and 2000.Consolidated Statements of Cash Flows for the years ended
  March 31, 2002, 2001 and 2000.Summary of Significant Accounting Policies.Notes to the Consolidated Financial Statements.

Auditors Reports.
  Consolidated Financial Statements.Consolidated Balance Sheets as at March 31, 2003, 2002 and
  2001.Consolidated Statements of Operations and Deficit for the
  years ended March 31, 2003, 2002 and 2001.Consolidated Statements of Cash Flows for the years ended
  March 31, 2003, 2002 and 2001.Notes to the Consolidated Financial Statements.

1

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**Nettron.Com, Inc.**Consolidated Financial Statements For the years ended March 31, 2001, 2000 and**1999**(Expressed in Canadian Dollars)

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**Nettron.Com, Inc.**Consolidated Financial Statements For the years endedMarch 31, 2001, 2000 and**1999**(Expressed in Canadian Dollars)



|                                                                              | Contents | 
|----------------------------------------------------------------------------- | -------- | 
|                                                                              |          | 
|                                                                              |          | 
|Auditors' Reports                                                             | 2- 3     | 
|                                                                              |          | 
|Comments by Auditors for US Readers
      on Canada -US Reporting Differences | 4        | 
|                                                                              |          | 
|Consolidated Financial Statements                                             |          | 
|                                                                              |          | 
|Balance
      Sheets                                                          | 5        | 
|                                                                              |          | 
|Statements
      of Operations and Deficit                                    | 6        | 
|                                                                              |          | 
|Statements
      of Cash Flows                                                | 7        | 
|                                                                              |          | 
|Summary
      of Significant Accounting Policies                              | 8- 10    | 
|                                                                              |          | 
|Notes
      to the Financial Statements                                       | 11 - 27  | 

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Auditors' Report

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To the Shareholders ofNettron.Com, Inc.
  We have audited the Consolidated Balance Sheet of Nettron.Com, Inc. as at March
  31, 2001 and the Consolidated Statements of Operations and Deficit and Cash
  Flows for the year then ended. These consolidated financial statements are the
  responsibility of the Company's management. Our responsibility is to express
  an opinion on these financial statements based on our audit. 
  We conducted our audit in accordance with Canadian and United States generally
  accepted auditing standards. Those standards require that we plan and perform
  an audit to obtain reasonable assurance whether the financial statements are
  free of material misstatement. An audit includes examining, on a test basis,
  evidence supporting the amounts and disclosures in the financial statements.
  An audit also includes assessing the accounting principles used and significant
  estimates made by management, as well as evaluating the overall financial statement
  presentation. 
  In our opinion, these consolidated financial statements present fairly, in all
  material respects, the financial position of the Company as at March 31, 2001
  and the results of its operations and its cash flows for the year then ended
  in accordance with Canadian generally accepted accounting principles.

/s/ BDO Dunwoody LLP
  Chartered Accountants
  Vancouver, Canada
  August 8, 2001

2

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Auditors' Report

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To the Shareholders of 
  Nettron.Com, Inc.

We have audited the Consolidated Balance Sheet of Nettron.Com,
  Inc. as at March 31, 2000 and the Consolidated Statements of Operations and
  Deficit and Cash Flows for the years ended March 31, 2000 and 1999. These consolidated
  financial statements are the responsibility of the Company's management. Our
  responsibility is to express an opinion on these financial statements based
  on our audits.

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

In our opinion, these consolidated financial statements present
  fairly, in all material respects, the financial position of the Company as at
  March 31, 2000 and the results of its operations and its cash flows for the
  years ended March 31, 2000 and 1999 in accordance with Canadian generally accepted
  accounting principles.



/s/ BDO Dunwoody LLP

Chartered Accountants

Vancouver, Canada
  August 8, 2001

3

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Comments by Auditors for US Readers 
  On Canada - US Reporting Differences

---

In the United States, reporting standards for auditors require
  the addition of an explanatory paragraph (following the opinion paragraph) when
  the financial statements are affected by conditions and events that cast substantial
  doubt on the Company's ability to continue as a going concern, such as those
  described in Note 1 to the consolidated financial statements. Our report to
  the shareholders dated August 8, 2001 is expressed in accordance with Canadian
  reporting standards which do not permit a reference to such events and conditions
  in the auditors' report when these are adequately disclosed in the financial
  statements.

In the United States, reporting standards for auditors also
  require the addition of an explanatory paragraph (following the opinion paragraph)
  when there is a restatement of the Company's historical financial statements,
  such as the change described in Note 2 to the consolidated financial statements.
  Our report to the shareholders dated August 8, 2001 is expressed in accordance
  with Canadian reporting standards which do not require a reference to such a
  restatement in the auditors' report when the restatement is properly accounted
  for and adequately disclosed in the financial statements.



/s/ BDO Dunwoody LLP

Chartered Accountants

Vancouver, Canada 
  August 8, 2001

4

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Nettron.Com, Inc. Consolidated Balance Sheets (Expressed in Canadian Dollars)

|March
      31                                           |   | 2001       |   |   | 2000        |  
|-------------------------------------------------------- | - | ---------- | - | - | ----------- | -
|                                                         |   |            |   |   |             |  
|                                                         |   |            |   |   | (Note 2(a)) |  
|Assets                                                   |   |            |   |   |             |  
|                                                         |   |            |   |   |             |  
|Current                                                  |   |            |   |   |             |  
|Cash and term deposits                                   | $ | 119,313    |   | $ | 757,056     |  
|Accounts receivable                                      |   | 12,143     |   |   | 55,131      |  
|Prepaid expenses                                         |   | 9,513      |   |   | 51,261      |  
|                                                         |   |            |   |   |             |  
|                                                         |   | 140,969    |   |   | 863,448     |  
|                                                         |   |            |   |   |             |  
|Due from affiliated company(Note 3)                      |   | -          |   |   | 4,533       |  
|Capital assets(Note 4)                                   |   | 36,024     |   |   | 136,526     |  
|Goodwill(Note 5)                                         |   | -          |   |   | 140,358     |  
|                                                         |   |            |   |   |             |  
|                                                         | $ | 176,993    |   | $ | 1,144,865   |  
|                                                         |   |            |   |   |             |  
|                                                         |   |            |   |   |             |  
|Liabilities and Shareholders' Equity (Deficiency)        |   |            |   |   |             |  
|                                                         |   |            |   |   |             |  
|Current                                                  |   |            |   |   |             |  
|Accounts payable
      and accrued liabilities           | $ | 291,150    |   | $ | 104,200     |  
|Current portion
      of long-term debt (Note 6)         |   | -          |   |   | 8,352       |  
|Deferred revenue                                         |   | -          |   |   | 10,484      |  
|Convertible debentures,
      liability portion (Note 7) |   | -          |   |   | 154,126     |  
|                                                         |   |            |   |   |             |  
|                                                         |   | 291,150    |   |   | 277,162     |  
|                                                         |   |            |   |   |             |  
|Long-term debt(Note 6)                                   |   | -          |   |   | 8,301       |  
|                                                         |   |            |   |   |             |  
|                                                         |   | 291,150    |   |   | 285,463     |  
|                                                         |   |            |   |   |             |  
|                                                         |   |            |   |   |             |  
|Shareholders' equity (deficiency)                        |   |            |   |   |             |  
|Convertible debentures,
      equity portion (Note 7)    |   | -          |   |   | 874         |  
|Share capital (Note
      8)                             |   | 2,999,420  |   |   | 2,395,019   |  
|Deficit                                                  |   | (3,113,577 | ) |   | (1,536,491  | )
|                                                         |   |            |   |   |             |  
|                                                         |   | (114,157   | ) |   | 859,402     |  
|                                                         |   |            |   |   |             |  
|                                                         | $ | 176,993    |   | $ | 1,144,865   |  

|On behalf of the Board: |          |                   |         
|----------------------- | -------- | ----------------- | --------
|                        |          |                   |         
|                        |          |                   |         
|"Edward D. Ford"        | Director | "Douglas E. Ford" | Director

The accompanying summary of significant accounting policies and notes are
  an integral part of these financial statements

5

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Nettron.Com, Inc. Consolidated Statements of Operations and Deficit (Expressed in Canadian Dollars)

|For the years
      endedMarch 31          |   | 2001       |   |   | 2000       |   |   | 1999      |  
|------------------------------------------ | - | ---------- | - | - | ---------- | - | - | --------- | -
|                                           |   |            |   |   |            |   |   |           |  
|Expenses                                   |   |            |   |   |            |   |   |           |  
|Advertising and
      promotion            | $ | 32,460     |   | $ | 21,391     |   | $ | 2,940     |  
|Amortization                               |   | 21,583     |   |   | 13,444     |   |   | -         |  
|Consulting                                 |   | 149,663    |   |   | 35,532     |   |   | -         |  
|Filing and transfer
      agent            |   | 16,624     |   |   | 31,839     |   |   | 21,345    |  
|Interest on long-term
      debt and       |   |            |   |   |            |   |   |           |  
|convertible
      debentures               |   | 5,038      |   |   | 44,092     |   |   | 38,929    |  
|Management fees                            |   | 132,317    |   |   | 125,214    |   |   | 37,000    |  
|Office and miscellaneous                   |   | 49,899     |   |   | 26,446     |   |   | 15,053    |  
|Professional fees                          |   | 658,159    |   |   | 80,282     |   |   | 55,664    |  
|Rent                                       |   | 46,906     |   |   | 43,993     |   |   | 6,000     |  
|Telephone and utilities                    |   | 24,588     |   |   | 12,039     |   |   | -         |  
|Travel                                     |   | 69,216     |   |   | 39,831     |   |   | 13,262    |  
|Wages and benefits                         |   | 151,521    |   |   | 126,656    |   |   | 23,100    |  
|Website servicing                          |   | 18,191     |   |   | 29,692     |   |   | -         |  
|                                           |   |            |   |   |            |   |   |           |  
|Loss from operations                       |   | (1,376,165 | ) |   | (630,451   | ) |   | (213,293  | )
|                                           |   |            |   |   |            |   |   |           |  
|Other income (expense)                     |   |            |   |   |            |   |   |           |  
|Interest                                   |   | 13,097     |   |   | 21,391     |   |   | 14,343    |  
|Foreign exchange
      gain (loss)         |   | 54,587     |   |   | (35,500    | ) |   | -         |  
|                                           |   |            |   |   |            |   |   |           |  
|                                           |   | 67,684     |   |   | (14,109    | ) |   | 14,343    |  
|                                           |   |            |   |   |            |   |   |           |  
|Loss from continued operations             |   | (1,308,481 | ) |   | (644,560   | ) |   | (198,950  | )
|                                           |   |            |   |   |            |   |   |           |  
|Loss from discontinued operations,(Note 2) |   | (268,605   | ) |   | (245,354   | ) |   | (311,688  | )
|                                           |   |            |   |   |            |   |   |           |  
|Net loss for the year                      |   | (1,577,086 | ) |   | (889,914   | ) |   | (510,638  | )
|                                           |   |            |   |   |            |   |   |           |  
|Deficit, beginning of year,                |   |            |   |   |            |   |   |           |  
|as originally stated                       |   | (1,536,491 | ) |   | (1,564,243 | ) |   | (135,939  | )
|                                           |   |            |   |   |            |   |   |           |  
|Prior period adjustment(Note 2)            |   | -          |   |   | 917,666    |   |   | -         |  
|                                           |   |            |   |   |            |   |   |           |  
|Deficit, as restated                       |   | (1,536,491 | ) |   | (646,577   | ) |   | (135,939  | )
|                                           |   |            |   |   |            |   |   |           |  
|Deficit,
      end of year                 | $ | (3,113,577 | ) | $ | (1,536,491 | ) | $ | (646,577  | )
|                                           |   |            |   |   |            |   |   |           |  
|Loss per share - basic and diluted         |   |            |   |   |            |   |   |           |  
|                                           |   |            |   |   |            |   |   |           |  
|From continued operations                  | $ | (0.21      | ) | $ | (0.14      | ) | $ | (0.13     | )
|Discontinued operations
      (Note 2)     |   | (0.04      | ) |   | (0.06      | ) |   | (0.19     | )
|                                           |   |            |   |   |            |   |   |           |  
|After discontinued
      operations        | $ | (0.25      | ) | $ | (0.20      | ) | $ | (0.32     | )
|                                           |   |            |   |   |            |   |   |           |  
|Weighted average shares outstanding        |   | 6,184,074  |   |   | 4,519,429  |   |   | 1,612,138 |  

The accompanying summary of significant accounting policies and notes are
  an integral part of these financial statements

6

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Nettron.Com, Inc. Consolidated Statements of Cash Flows (Expressed in Canadian Dollars)

|For
      the years ended March 31                     |   | 2001       |   |   | 2000      |   |   | 1999     |  
|------------------------------------------------------ | - | ---------- | - | - | --------- | - | - | -------- | -
|                                                       |   |            |   |   |           |   |   |          |  
|Cash provided by (used in)                             |   |            |   |   |           |   |   |          |  
|                                                       |   |            |   |   |           |   |   |          |  
|Operating activities                                   |   |            |   |   |           |   |   |          |  
|Loss
      from continued operations                   | $ | (1,308,481 | ) | $ | (644,560  | ) | $ | (198,950 | )
|Items
      not involving cash                         |   |            |   |   |           |   |   |          |  
|Amortization
      of capital assets                   |   | 21,583     |   |   | 13,444    |   |   | -        |  
|Write
      off of incorporation costs                 |   | -          |   |   | 1,430     |   |   | -        |  
|Loss
      on disposal ofcapital assets                |   | -          |   |   | 15,106    |   |   | 7,755    |  
|                                                       |   |            |   |   |           |   |   |          |  
|Changes
      in non-cash working capital balances     |   |            |   |   |           |   |   |          |  
|Accounts
      receivable                              |   | (6,791     | ) |   | (3,804    | ) |   | 15,724   |  
|Prepaid
      expenses                                 |   | 46,040     |   |   | (51,262   | ) |   | -        |  
|Accounts
      payable and accrued liabilities         |   | 186,708    |   |   | 52,645    |   |   | 17,131   |  
|                                                       |   |            |   |   |           |   |   |          |  
|Cash
      used in continued operations                |   | (1,060,941 | ) |   | (617,001  | ) |   | (158,340 | )
|                                                       |   |            |   |   |           |   |   |          |  
|Cash
      used in discontinued operations             |   | (4,120     | ) |   | (201,490  | ) |   | (223,195 | )
|                                                       |   |            |   |   |           |   |   |          |  
|Cash from operations                                   |   | (1,065,061 | ) |   | (818,491  | ) |   | (381,535 | )
|                                                       |   |            |   |   |           |   |   |          |  
|Investing activities                                   |   |            |   |   |           |   |   |          |  
|Purchase
      of capital assets                       |   | (11,607    | ) |   | (58,314   | ) |   | -        |  
|Disposal
      of cash in discontinued operation       |   | (2,999     | ) |   | -         |   |   | -        |  
|Cash
      acquired on acquisition of discontinued     |   |            |   |   |           |   |   |          |  
|operations                                             |   | -          |   |   | -         |   |   | 37,532   |  
|Purchase
      of capital assets in discontinued       |   |            |   |   |           |   |   |          |  
|operations                                             |   | (7,268     | ) |   | (16,706   | ) |   | (78,516  | )
|Decrease
      (increase) in advances to affiliated    |   |            |   |   |           |   |   |          |  
|company
      on discontinued operations               |   | 4,533      |   |   | 8,119     |   |   | (12,652  | )
|                                                       |   |            |   |   |           |   |   |          |  
|                                                       |   | (17,341    | ) |   | (66,901   | ) |   | (53,636  | )
|                                                       |   |            |   |   |           |   |   |          |  
|Financing activities                                   |   |            |   |   |           |   |   |          |  
|Proceeds
      on issuance of shares and share         |   |            |   |   |           |   |   |          |  
|subscriptions                                          |   | 449,401    |   |   | 1,231,000 |   |   | 435,000  |  
|Proceeds
      from issuance of convertible debentures |   | -          |   |   | -         |   |   | 49,263   |  
|Proceeds
      from long-term debt on discontinued     |   |            |   |   |           |   |   |          |  
|operations                                             |   | -          |   |   | -         |   |   | 23,093   |  
|Repayment
      of long-term debt on discontinued      |   |            |   |   |           |   |   |          |  
|operations                                             |   | (4,742     | ) |   | (6,440    | ) |   | -        |  
|                                                       |   |            |   |   |           |   |   |          |  
|                                                       |   | 444,659    |   |   | 1,224,560 |   |   | 507,356  |  
|                                                       |   |            |   |   |           |   |   |          |  
|Increase (decrease) in cash and term deposits          |   | (637,743   | ) |   | (339,168  | ) |   | 72,185   |  
|                                                       |   |            |   |   |           |   |   |          |  
|Cash and term deposits, beginning of year              |   | 757,056    |   |   | 417,888   |   |   | 345,703  |  
|                                                       |   |            |   |   |           |   |   |          |  
|Cash
      and term deposits, end of year              | $ | 119,313    |   | $ | 757,056   |   | $ | 417,888  |  
|                                                       |   |            |   |   |           |   |   |          |  
|Supplemental disclosure of cash flow information       |   |            |   |   |           |   |   |          |  
|                                                       |   |            |   |   |           |   |   |          |  
|Cash paid during the year for:                         |   |            |   |   |           |   |   |          |  
|Interest                                               | $ | 5,038      |   | $ | 57,727    |   | $ | 17,392   |  
|Interest
      included in loss from discontinued      |   |            |   |   |           |   |   |          |  
|operations                                             | $ | 2,051      |   | $ | 3,911     |   | $ | 4,010    |  
|Non-cash investing and financing activities:           |   |            |   |   |           |   |   |          |  
|Issuance
      of common shares upon conversion of     |   |            |   |   |           |   |   |          |  
|convertible
      debentures                           | $ | 155,000    |   | $ | 245,000   |   | $ | -        |  

The accompanying summary of significant accounting policies and notes are
  an integral part of these financial statements

7

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|Nettron.Com,
        Inc. Summary of Significant Accounting Policies (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-------------------------------------------------------------------------------------------------------------------------------------------

|Principles of Consolidation | These consolidated financial
        statements are stated in Canadian dollars and have been prepared in accordance
        with Canadian generally accepted accounting principles consolidating the
        accounts of the Company and its wholly-owned subsidiary, Nettron Media
        Group, Inc. (collectively referred to as "the Company"). Nettron Media
        Group, Inc. was incorporated on May 8, 1999.                                                                                                                                                                                                                                                                                   
|--------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                            | Effective January 1, 2001
        the Company disposed of its interest in two wholly-owned subsidiaries,
        Bikestar Rentals Inc. (formerly Good Times Roll Bicycle Rentals) ("Bikestar")
        and Arizona Outback Adventures, LLC ("Arizona Outback") (Note 2). The
        comparative financial results of Bikestar and Arizona Outback from the
        date of acquisition have been segregated and presented as discontinued
        operations on the Statements of Operations and Deficit and Cash Flows.
        The assets and liabilities of Bikestar and Arizona Outback for periods
        prior to disposition have not been segregated in the Consolidated Balance
        Sheets.
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                            | All significant intercompany
        transactions and balances have been eliminated on consolidation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Capital Assets              | Capital assets are stated
        at cost less accumulated amortization. Amortization is provided on capital
        assets at the following annual rates, not exceeding the estimated useful
        lives of the capital assets.                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                            | Automobile                    -
                  30 % diminishing-balance
        basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                            | Bicycles                          -
                  20 % diminishing-balance
        basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                            | Controllers                     
        -           30 % diminishing-balance
        basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                            | Computer software        -
                 100 % diminishing-balance
        basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                            | Equipment                       -
                  20 % diminishing-balance
        basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                            | Racks                               -
                  20 % diminishing-balance
        basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                            | Furniture and fixtures    -
                  20 % diminishing-balance
        basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                            | Leasehold improvements
        are amortized on a straight-line basis over the term of lease.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                            | Costs incurred during the
        computer software application development stage are capitalized and will
        be amortized over the estimated useful life of the software once development
        is complete. All other costs related to the development of internal-use
        software are expensed as incurred.                                                                                                                                                                                                                                                                                                                                                                                

8

---

|Nettron.Com,
        Inc. Summary of Significant Accounting Policies (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-------------------------------------------------------------------------------------------------------------------------------------------

|Goodwill                     | Goodwill was stated at cost
        and was being amortized on a straight-line basis over an estimated period
        of benefit of 5 years. The Company periodically evaluated the recoverability
        of the carrying amount of goodwill resulting from business acquisitions
        by assessing whether any impairment indications are present, including
        significant adverse changes in legal or economic factors that affect the
        business acquired. If such analysis indicated impairment, the goodwill
        would be adjusted in the period such change occurred based on its estimated
        fair value, which is derived from expected cash flow of the business.
        During the year ended March 31, 2001, the Company wrote-off the remaining
        net book value of goodwill associated with the acquisitions of Arizona
        Outback and Bikestar.
|---------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Revenue Recognition          | Revenue earned by Arizona
        Outback and Bikestar through the outdoor adventure tours and bicycle rentals
        was recognized as adventure tours and the rentals of the bicycles to the
        end user occurred.
      No revenue has yet been recognized from the Company's
        interactive dating service operations.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Foreign Currency             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Transactions and Translation | Amounts denominated in U.S
        dollars have been translated into Canadian dollars as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                             | (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                             | (b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                             | (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                             | Exchange rates in effect
        during the years covered by these financial statements are as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           

| |          | 2001   |  | 2000   |  | 1999   | 
| | -------- | ------ |  | ------ |  | ------ | 
| |          |        |  |        |  |        | 
| | Year end | 1.5767 |  | 1.4549 |  | 1.5092 | 
| | Average  | 1.5038 |  | 1.4703 |  | 1.5074 | 

9

---

|Nettron.Com,
        Inc. Summary of Significant Accounting Policies (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-------------------------------------------------------------------------------------------------------------------------------------------

|Use of Estimates | The preparation of the consolidated financial statements
        in accordance with Canadian generally accepted accounting principles 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 management's best estimates as
        additional information might become available in the future.                                                                                                                                                                             
|---------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Loss per Share   | Loss per share has been computed by dividing the
        loss applicable to common shareholders by the weighted average number
        of shares outstanding during the years. For the year ended March 31, 1999,
        the loss per share was restated to account for the stock consolidation
        which occurred in 2000.                                                                                                                                                                                                                                                                                                                                                                                                
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Stock Options    | At the date of issuance of stock options, the exercise
        price of the options is generally equal to the market value of the common
        shares. Accordingly, no compensation is recognized when stock options
        are granted to officers, directors and consultants. Consideration paid
        on the exercise of stock options is credited to share capital.                                                                                                                                                                                                                                                                                                                                                    
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Income Taxes     | The Company has adopted the recommendations of CICA
        Handbook Section 3465 "Income Taxes" which requires use of the liability
        method. Under this method, income taxes reflect the deferral of such taxes
        to future years. The deferral is a result of temporary differences which
        arise when certain costs are claimed for tax purposes in different time
        periods than the related amounts are amortized in the accounts. The change
        to the liability method of accounting for income taxes was adopted retroactively
        and had no effect on the consolidated financial statements as a valuation
        allowance is provided for the full amount of deferred tax assets.

10

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|1. | Nature of Business and Ability to Continue
        as a Going Concern
      The Company was incorporated under the Alberta Business
        Corporations Act on January 19, 1996 and is in the business of marketing
        its interactive dating service "Cupid's Web". The Company's administrative
        functions are performed in Canada; however, the operations are substantially
        located in the United States.
      These consolidated financial statements have been prepared
        in accordance with Canadian generally accepted accounting principles applicable
        to a going concern which contemplates the realization of assets and the
        satisfaction of liabilities and commitments in the normal course of business.
        During the year ended March 31, 2001, the Company disposed of two of its
        subsidiaries (Note 2) to focus its effort on the development of the interactive
        dating service. As at March 31, 2001, the Company has accumulated losses
        totalling $3,113,577 and had a working capital deficiency of $150,181.
        The continuation of the Company is dependent upon the continued financial
        support of shareholders as well as obtaining long-term financing while
        the Company continues to develop and market memberships on its interactive
        platform "Cupid's Web" and works towards profitable operations. Management
        is currently seeking new sources of equity financing. While the Company
        is expending its best efforts to achieve the above plans, there is no
        assurance that any such activity will generate funds that will be available
        for operations.
      These conditions raise substantial doubt about the Company's
        ability to continue as a going concern. These financial statements do
        not include any adjustments that might arise from this uncertainty.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|2. | Acquisitions and Dispositions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

11

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**2.** | Acquisitions and Dispositions - Continued
|------ | -----------------------------------------
|       |                                          
|       |                                          

| |  | For
      the years ended March 31                                                                     |   | 2001     |   |   | 2000     |   |   | 1999     |  
| |  | ------------------------------------------------------------------------------------------------------ | - | -------- | - | - | -------- | - | - | -------- | -
| |  |                                                                                                        |   |          |   |   |          |   |   |          |  
| |  |                                                                                                        |   |          |   |   |          |   |   |          |  
| |  | Revenue                                                                                                | $ | 419,486  |   | $ | 226,692  |   | $ | 93,301   |  
| |  |                                                                                                        |   |          |   |   |          |   |   |          |  
| |  | Loss from operations                                                                                   |   | (141,947 | ) |   | (245,354 | ) |   | (311,688 | )
| |  |                                                                                                        |   |          |   |   |          |   |   |          |  
| |  | Loss on sale of net assets                                                                             |   | (18,691  | ) |   | -        |   |   | -        |  
| |  | Write-off of goodwill                                                                                  |   | (107,967 | ) |   | -        |   |   | -        |  
| |  |                                                                                                        |   |          |   |   |          |   |   |          |  
| |  | Loss on disposal of discontinued operations                                                            |   | (126,658 | ) |   | -        |   |   | -        |  
| |  |                                                                                                        |   |          |   |   |          |   |   |          |  
| |  | Loss from discontinued operations                                                                      | $ | (268,605 | ) | $ | (245,354 | ) | $ | (311,688 | )
| |  |                                                                                                        |   |          |   |   |          |   |   |          |  
| |  |                                                                                                        |   |          |   |   |          |   |   |          |  
| |  | Loss per share from discontinued                                                                       |   |          |   |   |          |   |   |          |  
| |  | operations
      is summarized as follows:                                                             |   |          |   |   |          |   |   |          |  
| |  | from
      operations                                                                                  | $ | (0.02    | ) | $ | (0.06    | ) | $ | (0.19    | )
| |  | on
      disposal of net assets                                                                        |   | (0.02    | ) |   | -        |   |   | -        |  
| |  |                                                                                                        |   |          |   |   |          |   |   |          |  
| |  |                                                                                                        | $ | (0.04    | ) | $ | (0.06    | ) | $ | (0.19    | )
| |  |                                                                                                       
| |  | The Consolidated Balance Sheets
      include the following net assets of the discontinued operations:

| |  |                                          |   | 2001 |  |   | 2000    |  
| |  | ---------------------------------------- | - | ---- |  | - | ------- | -
| |  |                                          |   |      |  |   |         |  
| |  | Current assets                           | $ | -    |  | $ | 73,727  |  
| |  | Due from affiliated company              |   | -    |  |   | 4,386   |  
| |  | Capital assets                           |   | -    |  |   | 90,076  |  
| |  | Goodwill                                 |   | -    |  |   | 140,358 |  
| |  |                                          |   |      |  |   |         |  
| |  |                                          |   | -    |  |   | 308,547 |  
| |  |                                          |   |      |  |   |         |  
| |  | Accounts payable and accrued liabilities |   | -    |  |   | (18,112 | )
| |  | Deferred revenue                         |   | -    |  |   | (10,484 | )
| |  | Long-term debt                           |   | -    |  |   | (16,653 | )
| |  |                                          |   |      |  |   |         |  
| |  | Net assets                               | $ | -    |  |   | 263,298 |  

12

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**2.** | Acquisitions and Dispositions
        - Continued
|------ | -------------------------------------------------
|       |                                                  
|       | b)                                               
|       |                                                  
|       |                                                  
|       |                                                  
|       |                                                  
|       |                                                  
|       |                                                  

| |  |  | Purchase price                                  |   |          |  
| |  |  | ----------------------------------------------- | - | -------- | -
| |  |  | 427,296
      common shares for acquisition (*) | $ | -        |  
| |  |  |                                                 |   |          |  
| |  |  | Net assets acquired                             |   |          |  
| |  |  | Total
      assets                              |   | (139,386 | )
| |  |  | Total
      liabilities                         |   | 346,268  |  
| |  |  |                                                 |   |          |  
| |  |  |                                                 |   | 206,882  |  
| |  |  |                                                 |   |          |  
| |  |  | Goodwill (restated) (**)                        | $ | 206,882  |  

| |  |  | (*) | The purchase price for the acquisition of Bikestar
        was based upon the net book value of the net assets acquired. Concurrently
        with the acquisition, and in addition to the 427,296 common shares issued
        on acquisition, debt to Enterprise Development Inc. and Good Times Enterprises
        Inc. (creditors of Bikestar) in the amount of $200,000 was assumed by
        the Company and settled with 160,000 common shares. The net assets above
        included the portion of debt to Enterprise Development Inc. and Good Times
        Enterprises Inc. subsequently exchanged for convertible debentures, but
        excludes debt to these parties settled with 160,000 common shares.
| |  |  | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

13

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|2. | Acquisitions - Continued                                                                                                                                                                                                               
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                        
|   | (**)                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                        
|   |                                                                                                                                                                                                                                        
|3. | Due from Affiliated Company
      The amounts owing from Enterprise Developments Inc.,
        a company controlled by a director of the Company, were non-interest bearing,
        unsecured and had no specified terms of repayment.
|   |                                                                                                                                                                                                                                        
|   |                                                                                                                                                                                                                                        
|4. | Capital Assets                                                                                                                                                                                                                         

| |                           |   | 2001   |  |   | 2000         | 
| | ------------------------- | - | ------ |  | - | ------------ | 
| |                           |   |        |  |   |              | 
| |                           |   |        |  |   | Accumulated  | 
| |                           |   | Cost   |  |   | Amortization | 
| |                           |   |        |  |   |              | 
| | Automobiles (*)           | $ | -      |  |   | $ -          | 
| | Bicycles(*)               |   | -      |  |   | -            | 
| | Controllers               |   | 37,197 |  |   | 13,663       | 
| | Computer software         |   | 20,611 |  |   | 17,665       | 
| | Equipment                 |   | 13,243 |  |   | 3,699        | 
| | Furniture and fixtures(*) |   | -      |  |   | -            | 
| | Leasehold improvements(*) |   | -      |  |   | -            | 
| | Racks(*)                  |   | -      |  |   | -            | 
| |                           |   |        |  |   |              | 
| |                           |   | 71,051 |  |   | 35,027       | 
| |                           |   |        |  |   |              | 
| | Net book value            |   |        |  | $ | 36,024       | 

| | * | Capital assets were disposed of during the year as part of the disposition
      of Arizona Outback and Bikestar (Note 2).
| | - | --------------------------------------------------------------------------------------------------------------------------

14

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|5. | Goodwill
      The net book value of goodwill of $107,967 as at January
        1, 2001 (the date of disposition of Arizona Outback and Bikestar) was
        written off as part of the Company's loss from discontinued operations.
        (Note 2)
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                       
|6. | Long-Term Debt                                                                                                                                                                                                                                        

| |                                                       |   | 2001 |  |   | 2000   | 
| | ----------------------------------------------------- | - | ---- |  | - | ------ | 
| |                                                       |   |      |  |   |        | 
| | Loan payable to Ford Motor Credit, repayable with     |   |      |  |   |        | 
| | monthly payments of $520 including interest at 11%    |   |      |  |   |        | 
| | per annum, collateralized by the vehicle purchased(*) | $ | -    |  | $ | 13,337 | 
| |                                                       |   |      |  |   |        | 
| | Loan payable to Wells Fargo Bank, repayable with      |   |      |  |   |        | 
| | monthly payments of $218 including interest at 16.25% |   |      |  |   |        | 
| | per annum and unsecured.(*)                           |   | -    |  |   | 3,316  | 
| |                                                       |   |      |  |   |        | 
| |                                                       |   | -    |  |   | 16,653 | 
| |                                                       |   |      |  |   |        | 
| | Less current portion                                  |   | -    |  |   | 8,352  | 
| |                                                       |   |      |  |   |        | 
| |                                                       | $ | -    |  | $ | 8,301  | 

|   | (*)                    | Long-term debt was settled as part of the disposition of
      Arizona Outback and Bikestar (Note 2).
|-- | ---------------------- | -----------------------------------------------------------------------------------------------------
|   |                        |                                                                                                      
|   |                       
|7. | Convertible Debentures

| |                                                        |   | 2001 |  |   | 2000    | 
| | ------------------------------------------------------ | - | ---- |  | - | ------- | 
| |                                                        |   |      |  |   |         | 
| | Debenture payable to Good Times Enterprises Inc.       |   |      |  |   |         | 
| | issued in connection with the acquisition of Bikestar, |   |      |  |   |         | 
| | a company controlled by a director, bearing interest   |   |      |  |   |         | 
| | at 13% per annum and unsecured (Note 2).               | $ | -    |  | $ | 55,000  | 
| |                                                        |   |      |  |   |         | 
| | Debenture payable to Enterprise Developments Inc.      |   |      |  |   |         | 
| | issued in connection with the acquisition of Bikestar, |   |      |  |   |         | 
| | a company controlled by a director, bearing interest   |   |      |  |   |         | 
| | at 13% per annum and unsecured (Note 2).               |   | -    |  |   | 100,000 | 
| |                                                        |   |      |  |   |         | 
| |                                                        | $ | -    |  | $ | 155,000 | 

15

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**7.** | Convertible Debentures - Continued
      The debentures were convertible at the option of the
        holder into common shares of the Company at any time up to June 30, 2000
        at a conversion price of $1.25 per common share. On June 30, 2000, the
        remaining $155,000 debentures were converted into 124,000 common shares.
        $245,000 of debentures were converted to 196,000 common shares during
        the year ended March 31, 2000.
      Pursuant to the 1999 Share Purchase Agreement between
        the Company and the shareholders of Bikestar (Note 2(b)), the Company
        issued $200,000 of convertible debentures for partial settlement of debt
        outstanding in Bikestar at the acquisition date. Immediately following
        the acquisition, an additional $200,000 of convertible debentures were
        issued in exchange for additional debt outstanding in Bikestar to a director
        totalling $150,737 and additional cash proceeds of $49,263.
      The net book value of debentures was allocated as follows:
|------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |                   |   | 2001 |  |   | 2000    | 
| | ----------------- | - | ---- |  | - | ------- | 
| |                   |   |      |  |   |         | 
| | Liability portion | $ | -    |  | $ | 154,126 | 
| | Equity portion    |   | -    |  |   | 874     | 
| |                   |   |      |  |   |         | 
| |                   | $ | -    |  | $ | 155,000 | 

| | The convertible debentures consisted of both a liability
        and an equity component with each being reported separately in the consolidated
        financial statements. The equity component represented the estimated fair
        value of the holders' conversion option.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



16

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**8.** | Share Capital
      Authorized
|------ | ------------------------------
|       |                               
|       |                               
|       | Issued                        
|       |                               

| |                                                                   | Number of |  |   |           | 
| | ----------------------------------------------------------------- | --------- |  | - | --------- | 
| |                                                                   | Shares    |  |   | Amount    | 
| |                                                                   |           |  |   |           | 
| | Balance, April 1, 1998                                            | 953,333   |  | $ | 484,019   | 
| |                                                                   |           |  |   |           | 
| | Issued during the year                                            |           |  |   |           | 
| | For cash                                                          |           |  |   |           | 
| | On
      private placement                                        | 177,778   |  |   | 200,000   | 
| | On
      exercise of stock options                                | 93,333    |  |   | 70,000    | 
| | On
      exercise of warrants                                     | 20,000    |  |   | 15,000    | 
| | For acquisition of subsidiary (Note
      2(b))                   | 427,296   |  |   | -         | 
| | For settlement of
      subsidiary debt upon acquisition (Note 2) | 160,000   |  |   | -         | 
| |                                                                   |           |  |   |           | 
| | Balance, March 31, 1999                                           | 1,831,740 |  |   | 769,019   | 
| |                                                                   |           |  |   |           | 
| | Issued during the year                                            |           |  |   |           | 
| | For cash                                                          |           |  |   |           | 
| | On
      private placements, including 310,000 shares             |           |  |   |           | 
| | issued
      for a finders fee                                    | 3,810,000 |  |   | 1,261,000 | 
| | On
      exercise of warrants                                     | 120,000   |  |   | 120,000   | 
| | For conversion of convertible debentures
      (Note 7)           | 196,000   |  |   | 245,000   | 
| |                                                                   |           |  |   |           | 
| | Balance, March 31, 2000                                           | 5,957,740 |  |   | 2,395,019 | 
| |                                                                   |           |  |   |           | 
| | Issued during the year                                            |           |  |   |           | 
| | For cash on exercise
      of warrants                            | 621,134   |  |   | 443,901   | 
| | For conversion of convertible debentures
      (Note 7)           | 124,000   |  |   | 155,000   | 
| | On exercise of stock
      options                                | 12,500    |  |   | 5,500     | 
| |                                                                   |           |  |   |           | 
| | Balance, March 31, 2001                                           | 6,715,374 |  | $ | 2,999,420 | 

| | a) | On August 24, 1999, the Company consolidated its
        common shares on a five-for-one basis. All references in these financial
        statements to the number of shares are stated on a post-consolidation
        basis. Per share amounts prior to the share consolidation were restated
        for the share consolidation.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

17

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**8.** | Share Capital - Continued
|------ | -------------------------
|       |                          
|       | b)                       



| |  |                  | Number
      of Escrow Shares |  
| |  | ---------------- | ----------------------------- | -
| |  |                  | First                         |  
| |  |                  | Agreement                     |  
| |  |                  |                               |  
| |  | April 1, 1998    | 533,333                       |  
| |  | Issued in year   | -                             |  
| |  |                  |                               |  
| |  | March 31, 1999   | 533,333                       |  
| |  | Released in year | (177,777                      | )
| |  |                  |                               |  
| |  | March 31, 2000   | 355,556                       |  
| |  | Released in year | (177,778                      | )
| |  |                  |                               |  
| |  | March 31, 2001   | 177,778                       |  

| |    | i)                                                                                                                            | Pursuant to the first escrow agreement, the release
        of these shares occurs over a time period with the written consent of
        the Executive Director of the Alberta Securities Commission.                                                                                                                                                                                                                                                                                                                                      
| | -- | ----------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |    |                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| |    | ii)                                                                                                                           | Pursuant to the second escrow agreement, 280,000
        of the common shares are to be released on a basis of one share per $1.25
        in cash flow generated and the remaining 12,032 are to be released in
        the 2002 fiscal year. As part of the agreement to dispose of Arizona Outback
        and Bikestar (Note 2(a)), the 280,000 performance based escrow shares
        were cancelled subsequent to March 31, 2001.                                                                                                    
| |    |                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | c) | During the year ended March
        31, 2000, the Company issued common shares through private placements
        as follows:
| |    |                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| |    | i)                                                                                                                            | 3,410,000 units (including 310,000 units issued as
        a finders fee) at $0.33 per unit. Each unit consisted of one common share
        and one-half a share purchase warrant with a full warrant exercisable
        until August 4, 2001 at $0.50 per share. The value assigned to the finders
        fee was recorded as a reduction of total proceeds of the share issuance.
        During the year ended March 31, 2001, 443,356 warrants were exercised
        and the remaining 1,261,644 warrants expired on August 4, 2001.
| |    |                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| |    | ii)                                                                                                                           | 200,000 units at $0.44 per unit. Each unit consisted
        of one common share and one-half a share purchase warrant with a full
        warrant exercisable until November 15, 2001 at $0.55 per share.                                                                                                                                                                                                                                                                                                                                  
| |    |                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| |    | iii)                                                                                                                          | 200,000 special warrants at $0.75 per special warrant,
        each exercisable without additional cost into one common share and one
        share purchase warrant. During the year ended March 31, 2000, each special
        warrant was converted into one common share and one share purchase warrant
        exercisable until April 15, 2000 at $1.00 per share. During the year ended
        March 31, 2000, 120,000 warrants were exercised and the remaining 80,000
        warrants expired on April 15, 2000.                 

18

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**8.** | Share Capital- Continued
|------ | ------------------------
|       |                         
|       | d)                      

| |  |                                               |           |   |   | Weighted | 
| |  | --------------------------------------------- | --------- | - | - | -------- | 
| |  |                                               |           |   |   | Average  | 
| |  |                                               | Number of |   |   | Exercise | 
| |  |                                               | Options   |   |   | Price    | 
| |  |                                               |           |   |   |          | 
| |  | Number of options outstanding, April 1, 1998  | 93,333    |   | $ | 0.75     | 
| |  | Exercised                                     | (93,333   | ) |   | 0.75     | 
| |  | Granted                                       | 183,174   |   |   | 1.25     | 
| |  |                                               |           |   |   |          | 
| |  | Number of options outstanding, March 31, 1999 | 183,174   |   |   | 1.25     | 
| |  | Cancelled                                     | (183,174  | ) |   | 1.25     | 
| |  | Granted                                       | 525,000   |   |   | 0.44     | 
| |  |                                               |           |   |   |          | 
| |  | Number of options outstanding, March 31, 2000 | 525,000   |   |   | 0.44     | 
| |  | Granted                                       | 100,000   |   |   | 2.00     | 
| |  | Exercised                                     | (12,500   | ) |   | 0.44     | 
| |  |                                               |           |   |   |          | 
| |  | Number of options outstanding, March 31, 2001 | 612,500   |   | $ | 0.70     | 

| | Stock options outstanding at March 31, 2001 were as follows:
| | ------------------------------------------------------------

| |  |  | Expiry Date        |   | Exercise
      Price |  | Stock
      Options | 
| |  |  | ------------------ | - | -------------------- |  | ------------------- | 
| |  |  |                    |   |                      |  |                     | 
| |  |  | September 10, 2004 | $ | 0.44                 |  | 512,500             | 
| |  |  | March 27, 2005     | $ | 2.00                 |  | 100,000             | 
| |  |  |                    |   |                      |  |                     | 
| |  |  |                    |   |                      |  | 612,500             | 

| | As at March 31, 2001, 604,167 of the outstanding
        stock options were fully vested and exercisable. The unvested, outstanding
        stock options of 8,333, that are exercisable at $2.00, vested on May 1,
        2001. All stock options outstanding at March 31, 2000 and 1999 were fully
        vested and exercisable.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

19

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**8.** | Share Capital - Continued
|------ | -------------------------
|       |                          
|       | e)                       

| |  |                             |           |   |   | Weighted | 
| |  | --------------------------- | --------- | - | - | -------- | 
| |  |                             |           |   |   | Average  | 
| |  |                             | Number of |   |   | Exercise | 
| |  |                             | Warrants  |   |   | Price    | 
| |  |                             |           |   |   |          | 
| |  | Outstanding, April 1, 1998  | 20,000    |   | $ | 0.50     | 
| |  | Granted                     | 177,778   |   |   | 1.25     | 
| |  | Exercised                   | (20,000   | ) |   | 0.75     | 
| |  |                             |           |   |   |          | 
| |  | Outstanding, March 31, 1999 | 177,778   |   |   | 1.00     | 
| |  | Granted                     | 2,005,000 |   |   | 0.55     | 
| |  | Exercised                   | (120,000  | ) |   | 1.00     | 
| |  |                             |           |   |   |          | 
| |  | Outstanding, March 31, 2000 | 2,062,778 |   |   | 0.59     | 
| |  | Exercised                   | (621,134  | ) |   | 0.72     | 
| |  | Expired                     | (80,000   | ) |   | 1.00     | 
| |  |                             |           |   |   |          | 
| |  | Outstanding, March 31, 2001 | 1,361,644 |   | $ | 0.50     | 

| |  | All outstanding share purchase warrants at March
        31, 2001 were exercisable on a 1:1 basis based on the terms set out as
        follows:
| |  | ------------------------------------------------------------------------------------------------------------------------------------------------

| |  |  | Expiry Date       |   | Exercise
      Price |  | Warrants  | 
| |  |  | ----------------- | - | -------------------- |  | --------- | 
| |  |  |                   |   |                      |  |           | 
| |  |  | August 4, 2001    | $ | 0.50                 |  | 1,261,644 | 
| |  |  | November 15, 2001 | $ | 0.55                 |  | 100,000   | 
| |  |  |                   |   |                      |  |           | 
| |  |  |                   |   |                      |  | 1,361,644 | 

| |  | Subsequent to March 31, 2001, 1,261,644 share purchase warrants with an
      exercise price of $0.50 expired.
| |  | --------------------------------------------------------------------------------------------------------------

20

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**9.** | Income Taxes
      The tax effects of the temporary differences that give
        rise to the Company's future tax assets and liabilities are as follows:
|------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------

| |                               |   | 2001       |   |   | 2000     |  
| | ----------------------------- | - | ---------- | - | - | -------- | -
| |                               |   |            |   |   |          |  
| | Net operating losses          | $ | 1,060,463  |   | $ | 865,605  |  
| | Net capital losses            |   | 330,450    |   |   | -        |  
| | Capital assets                |   | -          |   |   | 64,528   |  
| | Valuation allowance           |   | (1,390,913 | ) |   | (930,133 | )
| |                               |   |            |   |   |          |  
| | Future tax assets (liability) | $ | -          |   | $ | -        |  

| | During the year ended March 31, 1999, the Company acquired
        future tax assets of Bikestar (Note 2(b)) totalling $256,271 consisting
        of net operating losses and capital assets of $203,831 and $52,440 respectively.
        A valuation allowance was fully provided for these future tax assets at
        the date of acquisition. During the year ended March 31, 2001, the Company
        disposed future tax assets of Arizona Outback and Bikestar (Note 2(a))
        of $555,462 consisting of net operating losses and capital assets of $490,934
        and $64,528 respectively. As a result, the valuation allowance was reduced
        at the date of disposal.
      The provision for income taxes differs from the amount
        established using the statutory income tax rate for British Columbia resident
        corporations not eligible for the small business deduction as follows:
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |                                                |   | 2001      |   |   | 2000     |   |   | 1999     |  
| | ---------------------------------------------- | - | --------- | - | - | -------- | - | - | -------- | -
| |                                                |   |           |   |   |          |   |   |          |  
| | Provision (benefit) at Canadian statutory rate |   |           |   |   |          |   |   |          |  
| | Continued operations                           | $ | (601,901  | ) | $ | (296,498 | ) | $ | (91,517  | )
| | Discontinued
      operations                  |   | (123,558  | ) |   | (112,862 | ) |   | (143,376 | )
| | Permanent differences                          |   | (290,783  | ) |   | 17,998   |   |   | 14,926   |  
| | Increase in valuation allowance                |   | 1,016,242 |   |   | 391,362  |   |   | 219,967  |  
| |                                                |   |           |   |   |          |   |   |          |  
| |                                                | $ | -         |   | $ | -        |   | $ | -        |  

| | The Company evaluates its valuation allowance requirements
        based on projected future operations. When circumstances change and this
        causes a change in management's judgement about the recoverability of
        future tax assets, the impact of the change in the valuation allowance
        is reflected in current income.
      The Company has non-capital losses available for income
        tax purposes in Canada and the United States totalling $2,305,355 (2000
        - $1,881,751) which expire in various amounts from 2002 to 2021. This
        amount can be used to reduce taxable income of future years. Additionally,
        the Company has capital losses of $1,436,740 which are available to reduce
        capital gains in future periods.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

21

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**10.** | Financial Instruments
      The Company's financial instruments consist of cash
        and term deposits, accounts receivable, amounts due from an affiliated
        company, accounts payable and accrued liabilities, long-term debt and
        convertible debentures. Unless otherwise noted, it is management's opinion
        that the Company is not exposed to significant interest or credit risks
        arising from these financial instruments. As at March 31, 2001 and 2000,
        the fair value of cash and term deposits, accounts receivable and accounts
        payable and accrued liabilities approximated their carrying values due
        to the immediate or short-term maturity of these instruments. The fair
        value of the convertible debentures and long-term debt approximated the
        carrying value of the liability portion based on the estimated cash flows
        through to the due date using estimated market discount rates for similar
        securities. It was not practical to assess the fair value of amounts due
        from an affiliated company.
      Financial assets and liabilities are denominated in
        the following currencies:
|------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |                 |   | **2001**  |  |   | 2000        | 
| | --------------- | - | --------- |  | - | ----------- | 
| |                 |   |           |  |   |             | 
| |                 |   | Financial |  |   | Financial   | 
| |                 |   | Assets    |  |   | Liabilities | 
| |                 |   |           |  |   |             | 
| | U.S. dollar     | $ | 110,295   |  | $ | 105,604     | 
| | Canadian dollar |   | 21,161    |  |   | 185,546     | 
| |                 |   |           |  |   |             | 
| |                 | $ | 131,456   |  | $ | 291,150     | 

|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|**11.** | Segmented Information
      With the disposal of Arizona Outback and Bikestar on
        January 1, 2001, the Company and its subsidiary now operate in one industry
        segment, the development and marketing of the internet marketing service
        "Cupid's Web". While the majority of the Company's administrative functions
        are performed in British Columbia, Canada, the operations are substantially
        located in Texas, United States.

22

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**12.** | Related Party Transactions
      Related party transactions not disclosed elsewhere in
        these consolidated financial statements are as follows:
|------- | ------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                       
|        | a)                                                                                                                                                    
|        |                                                                                                                                                       
|        | b)                                                                                                                                                    

| |  |                                     |   | 2001    |  |   | 2000    |  |   | 1999   | 
| |  | ----------------------------------- | - | ------- |  | - | ------- |  | - | ------ | 
| |  |                                     |   |         |  |   |         |  |   |        | 
| |  | Consulting                          | $ | 9,023   |  | $ | -       |  | $ | -      | 
| |  | Management fees                     | $ | 132,319 |  | $ | 125,214 |  | $ | 37,000 | 
| |  | Rent                                | $ | 4,500   |  | $ | 9,000   |  | $ | 6,000  | 
| |  | Expenses pertaining to discontinued |   |         |  |   |         |  |   |        | 
| |  | operations                          |   |         |  |   |         |  |   |        | 
| |  | Management fees                     | $ | 59,286  |  | $ | 86,466  |  | $ | 64,000 | 
| |  | Other                               | $ | 51,635  |  | $ | 62,532  |  | $ | 22,000 | 

|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | These transactions have been recorded
        at the exchange amount, being the consideration established and agreed
        to by the related parties.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                        
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                        
|13. | Contingent Liability
      The Company is subject to several claims and legal proceedings
        covering a variety of matters that arose in the ordinary course of business
        activities. The maximum claim against the Company exceeds the amount accrued
        by approximately $80,000. Each of these matters is subject to various
        uncertainties and it is possible that some of these matters may be resolved
        unfavourably to the Company. The amount by which the settlement, if any,
        differs from the accrual will be recorded in the period of settlement.
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                        
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                        
|14. | Comparative Amounts
      Certain comparative amounts presented in the financial
        statements have been restated to conform to the current year's presentation.                                                                                                                                                                                                                                                                                                                                                                                                                               

23

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**15.** | United States Accounting
        Principles
      The consolidated financial statements have been prepared
        in accordance with Canadian generally accepted accounting principles ("Canadian
        GAAP") which, in the case of the Company, conform in all material respects
        with those of the United States ("US GAAP") and with the requirements
        of the Securities and Exchange Commission ("SEC"), except as follows:
|------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|        | a)                                                                                                                                                                                                                                                                                                                                                                                                                                               
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|        | b)                                                                                                                                                                                                                                                                                                                                                                                                                                               
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|        | c)                                                                                                                                                                                                                                                                                                                                                                                                                                               

| |  |                                                    |   | 2001 |  |   | 2000    | 
| |  | -------------------------------------------------- | - | ---- |  | - | ------- | 
| |  |                                                    |   |      |  |   |         | 
| |  |                                                    |   |      |  |   |         | 
| |  | Current assets of discontinued operations          | $ | -    |  | $ | 73,727  | 
| |  | Non-current assets of discontinued operations      | $ | -    |  | $ | 484,499 | 
| |  | Current liabilities of discontinued operations     | $ | -    |  | $ | 36,948  | 
| |  | Non-current liabilities of discontinued operations | $ | -    |  | $ | 8,301   | 

| | d) | Under Canadian GAAP, no compensation expense is recorded on granting
        of stock options.
      Under US GAAP, the Company applies Accounting Principles
        Board Opinion ("APB") No. 25, "Accounting for Stock Issued to Employees",
        and related interpretations in accounting for all stock options granted
        to employees and directors. Under APB 25, compensation expense is only
        recognized for stock options granted with exercise prices below the market
        price of the underlying common shares on the date of grant. For the year
        ended March 31, 2000, an expense totalling $28,875 was incurred in respect
        to 262,500 options granted to an employee with an exercise price $0.11
        below market. For the years ended March 31, 2001 and 1999, the exercise
        price of the stock options granted to employees equalled the market price
        of the underlying common shares on the grant date.
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

24

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**15.** | United States Accounting Principles - Continued
|------- | -----------------------------------------------
|        |                                                
|        |                                                

| |  |                                                | 2001      |  | 2000  |  | 1999  | 
| |  | ---------------------------------------------- | --------- |  | ----- |  | ----- | 
| |  |                                                |           |  |       |  |       | 
| |  | Risk-free interest rate                        | 4.94%     |  | 5.59% |  | 5.32% | 
| |  | Dividend yield                                 | -%        |  | -%    |  | -%    | 
| |  | Volatility factor of the expected market price |           |  |       |  |       | 
| |  | of the Company's
      common shares           | 96 - 120% |  | 311%  |  | 206%  | 
| |  | Weighted-average expected life of the options  |           |  |       |  |       | 
| |  | (months)                                       | 36        |  | 36    |  | 36    | 

| | e) | Under US GAAP, SFAS No. 133, "Accounting for Derivative
        Instruments and Hedging Activities", requires companies to record derivatives
        on the balance sheet as assets or liabilities, measured at fair market
        value. Gains or losses resulting from changes in the values of those derivatives
        are accounted for depending on the use of the derivative and whether it
        qualifies for hedge accounting. The key criterion for hedge accounting
        is that the hedging relationship must be highly effective in achieving
        offsetting changes in fair value of cash flows. SFAS No. 133, which was
        amended by SFAS 137, is effective for fiscal years beginning after June
        15, 2000. The adoption of SFAS No. 133 did not have a material effect
        on the Company's financial statements.
      In June 2001, the Financial Accounting Standards Board
        finalized FASB Statements No. 141, Business Combinations ("SFAS
        141"), and No. 142,Goodwill and Other Intangible Assets
        ("SFAS 142"). SFAS 141 requires the use of the purchase method of accounting
        and prohibits the use of the pooling-of-interest method of accounting
        for business combinations initiated after June 30, 2001. SFAS 141 also
        requires that the Company recognize acquired intangible assets apart from
        goodwill if the acquired intangible assets meet certain criteria. SFAS
        141 applies to all business combinations initiated after June 30, 2001
        and for purchase business combinations completed on or after July 1, 2001.
        It also requires, upon adoption of SFAS 142, that the Company reclassify
        the carrying amounts of intangible assets and goodwill based on the criteria
        in SFAS 141.
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

25

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**15.** | United States Accounting Principles - Continued                                                                                                                                                                                                                             
|------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                                                                                             
|        |                                                                                                                                                                                                                                                                             
|        |                                                                                                                                                                                                                                                                             
|        | The following table reconciles
        the net loss as reported in the Consolidated Statements of Operations
        with that which would have been reported had the financial statements
        been prepared in accordance with US GAAP and the requirements of the SEC.

| |  |                                           |   | 2001       |   |   | 2000       |   |   | 1999      |  
| |  | ----------------------------------------- | - | ---------- | - | - | ---------- | - | - | --------- | -
| |  |                                           |   |            |   |   |            |   |   |           |  
| |  | Loss from continued operations in         |   |            |   |   |            |   |   |           |  
| |  | accordance with
      Canadian GAAP       | $ | (1,308,481 | ) | $ | (644,560   | ) | $ | (198,950  | )
| |  | Stock option compensation (d)             |   | (174,429   | ) |   | (118,828   | ) |   | (120,157  | )
| |  |                                           |   |            |   |   |            |   |   |           |  
| |  | Loss from continued operations in         |   |            |   |   |            |   |   |           |  
| |  | accordance with
      US GAAP             |   | (1,482,910 | ) |   | (763,388   | ) |   | (319,107  | )
| |  |                                           |   |            |   |   |            |   |   |           |  
| |  | Loss from discontinued operations in      |   |            |   |   |            |   |   |           |  
| |  | accordance
      with Canadian GAAP       |   | (268,605   | ) |   | (245,354   | ) |   | (311,688  | )
| |  | Amortization of goodwill (a)              |   | (57,618    | ) |   | (76,824    | ) |   | (57,618   | )
| |  | Write-off of goodwill (a)                 |   | (192,061   | ) |   | -          |   |   | -         |  
| |  |                                           |   |            |   |   |            |   |   |           |  
| |  | Loss from discontinued operations in      |   |            |   |   |            |   |   |           |  
| |  | accordance with
      US GAAP             |   | (518,284   | ) |   | (322,178   | ) |   | (369,306  | )
| |  |                                           |   |            |   |   |            |   |   |           |  
| |  | Loss and comprehensive loss in            |   |            |   |   |            |   |   |           |  
| |  | accordance
      with US GAAP             | $ | (2,001,194 | ) | $ | (1,085,566 | ) | $ | (688,413  | )
| |  |                                           |   |            |   |   |            |   |   |           |  
| |  | Loss per share in accordance with US GAAP |   |            |   |   |            |   |   |           |  
| |  | From continued operations                 | $ | (0.25      | ) | $ | (0.18      | ) | $ | (0.23     | )
| |  | Discontinued
      operations             |   | (0.09      | ) |   | (0.08      | ) |   | (0.26     | )
| |  |                                           |   |            |   |   |            |   |   |           |  
| |  | After
      discontinued operations       | $ | (0.34      | ) | $ | (0.26      | ) | $ | (0.49     | )
| |  |                                           |   |            |   |   |            |   |   |           |  
| |  | Weighted average common shares in         |   |            |   |   |            |   |   |           |  
| |  | accordance with
      US GAAP (a)         |   | 5,904,074  |   |   | 4,239,429  |   |   | 1,402,138 |  

26

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2001, 2000**and 1999**
|-----------------------------------------------------------------------------------------------------------------------------------------------

|**15.** | United States Accounting Principles - Continued
      The impact of the above-noted differences on total shareholders'
        equity (deficiency) is as follows:
|------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------

| |                                                               |   | 2001     |   |   | 2000      |  
| | ------------------------------------------------------------- | - | -------- | - | - | --------- | -
| |                                                               |   |          |   |   |           |  
| |                                                               |   |          |   |   |           |  
| | Shareholders' equity (deficiency) in accordance with          |   |          |   |   |           |  
| | Canadian GAAP                                                 | $ | (114,157 | ) | $ | 859,402   |  
| | Additional value assigned to common shares                    |   |          |   |   |           |  
| | on acquisition and
      settlement of debt (a)               |   | 384,120  |   |   | 384,120   |  
| | Accumulated amortization and write-down of goodwill
      (a) |   | (384,120 | ) |   | (134,441  | )
| | Convertible debentures, equity portion (b)                    |   | -        |   |   | (874      | )
| |                                                               |   |          |   |   |           |  
| | Shareholders' equity (deficiency) in accordance with          |   |          |   |   |           |  
| | US GAAP                                                       | $ | (114,157 | ) | $ | 1,108,207 |  

27

---

**Nettron.Com, Inc.**Consolidated Financial Statements For the years ended March 31, 2002, 2001 and 2000 (Expressed in Canadian Dollars)

---

**Nettron.Com, Inc.**Consolidated Financial Statements For the years ended March 31, 2002, 2001 and 2000 (Expressed in Canadian Dollars)



|                                                                              | Contents | 
|----------------------------------------------------------------------------- | -------- | 
|                                                                              |          | 
|                                                                              |          | 
|Auditors' Reports                                                             | 2        | 
|                                                                              |          | 
|Comments by Auditors for US Readers
      on Canada -US Reporting Differences | 3        | 
|                                                                              |          | 
|Consolidated Financial Statements                                             |          | 
|                                                                              |          | 
|Balance
      Sheets                                                          | 4        | 
|                                                                              |          | 
|Statements
      of Operations and Deficit                                    | 5        | 
|                                                                              |          | 
|Statements
      of Cash Flows                                                | 6        | 
|                                                                              |          | 
|Summary
      of Significant Accounting Policies                              | 7 - 9    | 
|                                                                              |          | 
|Notes
      to the Financial Statements                                       | 10 - 21  | 

---

---

Auditors' Report

---

To the Shareholders ofNettron.Com, Inc.We have audited the Consolidated Balance Sheets of Nettron.Com, Inc. as
  at March 31, 2002 and 2001 and the Consolidated Statements of Operations and
  Deficit and Cash Flows for each of the years in the three-year period ended
  March 31, 2002 .These financial statements are the responsibility of the Company's
  management. Our responsibility is to express an opinion on these financial statements
  based on our audits. 
  With respect to the financial statements for the years ended March 31, 2002
  and 2001, we conducted our audits in accordance with Canadian and United States
  generally accepted auditing standards. With respect to the financial statements
  for the year ended March 31, 2000, we conducted our audit in accordance with
  Canadian generally accepted auditing standards. Those standards require that
  we plan and perform an audit to obtain reasonable assurance whether the financial
  statements are free of material misstatement. An audit includes examining, on
  a test basis, evidence supporting the amounts and disclosures in the financial
  statements. An audit also includes assessing the accounting principles used
  and significant estimates made by management, as well as evaluating the overall
  financial statement presentation.
  In our opinion, these consolidated financial statements present fairly, in all
  material respects, the financial position of the Company as at March 31, 2002
  and 2001 and the results of its operations and its cash flows for each of the
  years in the three-year period ended March 31, 2002 in accordance with Canadian
  generally accepted accounting principles./s/ BDO Dunwoody LLP

Chartered Accountants
  Vancouver, Canada
  August 27, 2002

2

---

---

Comments by Auditors for US Readers 
  On Canada - US Reporting Differences

---

In the United States, reporting standards for auditors require
  the addition of an explanatory paragraph (following the opinion paragraph) when
  the financial statements are affected by conditions and events that cast substantial
  doubt on the Company's ability to continue as a going concern, such as those
  described in Note 1 to the consolidated financial statements. Our report to
  the shareholders dated August 27, 2002 is expressed in accordance with Canadian
  reporting standards which do not permit a reference to such events and conditions
  in the auditors' report when these are adequately disclosed in the financial
  statements.

/s/ BDO Dunwoody LLP

Chartered Accountants

Vancouver, Canada 
  August 27, 2002

3

---

---

Nettron.Com, Inc. Consolidated Balance Sheets (Expressed in Canadian Dollars)

|March
      31                                 |   | 2002       |   |   | 2001       |  
|---------------------------------------------- | - | ---------- | - | - | ---------- | -
|                                               |   |            |   |   |            |  
|Assets                                         |   |            |   |   |            |  
|                                               |   |            |   |   |            |  
|Current                                        |   |            |   |   |            |  
|Cash and term deposits                         | $ | 929        |   | $ | 119,313    |  
|Receivables                                    |   | 8,693      |   |   | 12,143     |  
|Prepaid expenses                               |   | -          |   |   | 9,513      |  
|                                               |   |            |   |   |            |  
|                                               |   | 9,622      |   |   | 140,969    |  
|                                               |   |            |   |   |            |  
|Capital assets(Note 3)                         |   | 14,905     |   |   | 36,024     |  
|                                               |   |            |   |   |            |  
|                                               | $ | 24,527     |   | $ | 176,993    |  
|                                               |   |            |   |   |            |  
|Liabilities and Capital Deficit                |   |            |   |   |            |  
|                                               |   |            |   |   |            |  
|Liabilities                                    |   |            |   |   |            |  
|                                               |   |            |   |   |            |  
|Current                                        |   |            |   |   |            |  
|Accounts payable
      and accrued liabilities | $ | 275,569    |   | $ | 291,150    |  
|                                               |   |            |   |   |            |  
|                                               |   |            |   |   |            |  
|Capital deficit                                |   |            |   |   |            |  
|Share capital (Note
      4)                   |   | 2,999,420  |   |   | 2,999,420  |  
|Deficit                                        |   | (3,250,462 | ) |   | (3,113,577 | )
|                                               |   |            |   |   |            |  
|                                               |   | (251,042   | ) |   | (114,157   | )
|                                               |   |            |   |   |            |  
|                                               | $ | 24,527     |   | $ | 176,993    |  

|Approved by the Board:    |          |                                  |         
|------------------------- | -------- | -------------------------------- | --------
|                          |          |                                  |         
|                          |          |                                  |         
|/s/
      Douglas E. Ford | Director | /s/
      Malcolm E. Rogers, Jr. | Director

The accompanying summary of significant accounting policies and notes are
  an integral part of these financial statements.

4

---

---

Nettron.Com, Inc. Consolidated Statements of Operations and Deficit (Expressed in Canadian Dollars)

|For
      the years ended March 31        |   | 2002       |   |   | 2001       |   |   | 2000       |  
|----------------------------------------- | - | ---------- | - | - | ---------- | - | - | ---------- | -
|                                          |   |            |   |   |            |   |   |            |  
|Expenses                                  |   |            |   |   |            |   |   |            |  
|Advertising
      and promotion           | $ | -          |   | $ | 32,460     |   | $ | 21,391     |  
|Amortization                              |   | 11,575     |   |   | 21,583     |   |   | 13,444     |  
|Consulting                                |   | 5,667      |   |   | 149,663    |   |   | 35,532     |  
|Filing
      and transfer agent fees      |   | 4,944      |   |   | 16,624     |   |   | 31,839     |  
|Interest
      on long-term debt and      |   |            |   |   |            |   |   |            |  
|convertible
      debentures              |   | -          |   |   | 5,038      |   |   | 44,092     |  
|Management
      fees                     |   | 36,000     |   |   | 132,317    |   |   | 125,214    |  
|Office
      and miscellaneous            |   | 9,359      |   |   | 49,899     |   |   | 26,446     |  
|Professional
      fees                   |   | 35,317     |   |   | 658,159    |   |   | 80,282     |  
|Rent                                      |   | 17,337     |   |   | 46,906     |   |   | 43,993     |  
|Telephone
      and utilities             |   | 988        |   |   | 24,588     |   |   | 12,039     |  
|Travel                                    |   | 360        |   |   | 69,216     |   |   | 39,831     |  
|Wages
      and benefits                  |   | -          |   |   | 151,521    |   |   | 126,656    |  
|Website
      servicing                   |   | 1,597      |   |   | 18,191     |   |   | 29,692     |  
|                                          |   |            |   |   |            |   |   |            |  
|Loss from operations                      |   | (123,144   | ) |   | (1,376,165 | ) |   | (630,451   | )
|Other income (expense)                    |   |            |   |   |            |   |   |            |  
|Interest                                  |   | 767        |   |   | 13,097     |   |   | 21,391     |  
|Foreign
      exchange gain (loss)        |   | (14,508    | ) |   | 54,587     |   |   | (35,500    | )
|                                          |   |            |   |   |            |   |   |            |  
|                                          |   | (13,741    | ) |   | 67,684     |   |   | (14,109    | )
|                                          |   |            |   |   |            |   |   |            |  
|Loss from continued operations            |   | (136,885   | ) |   | (1,308,481 | ) |   | (644,560   | )
|                                          |   |            |   |   |            |   |   |            |  
|Loss from discontinued operations(Note 2) |   | -          |   |   | (268,605   | ) |   | (245,354   | )
|                                          |   |            |   |   |            |   |   |            |  
|Net loss for the year                     |   | (136,885   | ) |   | (1,577,086 | ) |   | (889,914   | )
|                                          |   |            |   |   |            |   |   |            |  
|Deficit, beginning of year                |   | (3,113,577 | ) |   | (1,536,491 | ) |   | (646,577   | )
|                                          |   |            |   |   |            |   |   |            |  
|Deficit,
      end of year                | $ | (3,250,462 | ) | $ | (3,113,577 | ) | $ | (1,536,491 | )
|                                          |   |            |   |   |            |   |   |            |  
|Loss per share - basic and diluted        |   |            |   |   |            |   |   |            |  
|                                          |   |            |   |   |            |   |   |            |  
|From
      continued operations           | $ | (0.02      | ) | $ | (0.21      | ) | $ | (0.14      | )
|Discontinued
      operations (Note 2)    |   | -          |   |   | (0.04      | ) |   | (0.06      | )
|                                          |   |            |   |   |            |   |   |            |  
|After
      discontinued operations       | $ | (0.02      | ) | $ | (0.25      | ) | $ | (0.20      | )
|                                          |   |            |   |   |            |   |   |            |  
|Weighted average shares outstanding       |   | 6,447,041  |   |   | 6,184,074  |   |   | 4,519,429  |  

The accompanying summary of significant accounting policies and notes are
  an integral part of these financial statements.

5

---

---

Nettron.Com, Inc. Consolidated Statements of Cash Flows (Expressed in Canadian Dollars)

|For
      the years ended March 31                 |   | 2002     |   |   | 2001       |   |   | 2000      |  
|-------------------------------------------------- | - | -------- | - | - | ---------- | - | - | --------- | -
|                                                   |   |          |   |   |            |   |   |           |  
|Cash provided by (used in)                         |   |          |   |   |            |   |   |           |  
|                                                   |   |          |   |   |            |   |   |           |  
|Operating activities                               |   |          |   |   |            |   |   |           |  
|Loss
      from continued operations               | $ | (136,885 | ) | $ | (1,308,481 | ) | $ | (644,560  | )
|Items
      not involving cash                     |   |          |   |   |            |   |   |           |  
|Amortization
      of capital assets               |   | 11,575   |   |   | 21,583     |   |   | 13,444    |  
|Write
      off of incorporation costs             |   | -        |   |   | -          |   |   | 1,430     |  
|Loss
      on disposal of capital assets           |   | -        |   |   | -          |   |   | 15,106    |  
|Capital
      assets provided in exchange for      |   |          |   |   |            |   |   |           |  
|services                                           |   | 9,544    |   |   | -          |   |   | -         |  
|                                                   |   |          |   |   |            |   |   |           |  
|Changes
      in non-cash working capital balances |   |          |   |   |            |   |   |           |  
|Receivables                                        |   | 3,450    |   |   | (6,791     | ) |   | (3,804    | )
|Prepaid
      expenses                             |   | 9,513    |   |   | 46,040     |   |   | (51,262   | )
|Accounts
      payable and accrued liabilities     |   | (15,581  | ) |   | 186,708    |   |   | 52,645    |  
|Cash
      used in continued operations            |   | (118,384 | ) |   | (1,060,941 | ) |   | (617,001  | )
|                                                   |   |          |   |   |            |   |   |           |  
|Cash
      used in discontinued operations         |   | -        |   |   | (4,120     | ) |   | (201,490  | )
|                                                   |   | (118,384 | ) |   | (1,065,061 | ) |   | (818,491  | )
|Investing activities                               |   |          |   |   |            |   |   |           |  
|Purchase
      of capital assets                   |   | -        |   |   | (11,607    | ) |   | (58,314   | )
|Disposal
      of cash in discontinued operation   |   | -        |   |   | (2,999     | ) |   | -         |  
|Purchase
      of capital assets in discontinued   |   |          |   |   |            |   |   |           |  
|operations                                         |   | -        |   |   | (7,268     | ) |   | (16,706   | )
|Decrease
      in advances to affiliated           |   |          |   |   |            |   |   |           |  
|company
      on discontinued operations           |   | -        |   |   | 4,533      |   |   | 8,119     |  
|                                                   |   | -        |   |   | (17,341    | ) |   | (66,901   | )
|Financing activities                               |   |          |   |   |            |   |   |           |  
|Proceeds
      on issuance of shares and share     |   |          |   |   |            |   |   |           |  
|subscriptions                                      |   | -        |   |   | 449,401    |   |   | 1,231,000 |  
|Repayment
      of long-term debt on discontinued  |   |          |   |   |            |   |   |           |  
|operations                                         |   | -        |   |   | (4,742     | ) |   | (6,440    | )
|                                                   |   | -        |   |   | 444,659    |   |   | 1,224,560 |  
|Increase (decrease) in cash                        |   | (118,384 | ) |   | (637,743   | ) |   | 339,168   |  
|                                                   |   |          |   |   |            |   |   |           |  
|Cash, beginning of year                            |   | 119,313  |   |   | 757,056    |   |   | 417,888   |  
|Cash,
      end of year                            | $ | 929      |   | $ | 119,313    |   | $ | 757,056   |  
|                                                   |   |          |   |   |            |   |   |           |  
|Supplemental disclosure of cash flow information   |   |          |   |   |            |   |   |           |  
|                                                   |   |          |   |   |            |   |   |           |  
|Cash paid during the year for:                     |   |          |   |   |            |   |   |           |  
|Interest                                           | $ | -        |   | $ | 5,038      |   | $ | 57,727    |  
|Interest
      included in loss from discontinued  |   |          |   |   |            |   |   |           |  
|operations                                         | $ | -        |   | $ | 2,051      |   | $ | 3,911     |  
|Non-cash investing and financing activities:       |   |          |   |   |            |   |   |           |  
|Issuance
      of common shares upon conversion of |   |          |   |   |            |   |   |           |  
|convertible
      debentures                       | $ | -        |   | $ | 155,000    |   | $ | 245,000   |  
|Cancellation
      of escrow shares for nil        |   |          |   |   |            |   |   |           |  
|consideration
      (Note 4(b))                    | $ | -        |   | $ | -          |   | $ | -         |  
|Capital
      assets provided in exchange for      |   |          |   |   |            |   |   |           |  
|services
      (Note 3)                            | $ | 9,544    |   | $ | -          |   | $ | -         |  

The accompanying summary of significant accounting policies and notes are
  an integral part of these financial statements.

6

---

|Nettron.Com,
        Inc. Summary of Significant Accounting Policies (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|----------------------------------------------------------------------------------------------------------------------------------------

|Principles of Consolidation | These consolidated financial statements are stated
        in Canadian dollars and have been prepared in accordance with Canadian
        generally accepted accounting principles consolidating the accounts of
        the Company and its wholly-owned subsidiary, Nettron Media Group, Inc.
        (collectively referred to as "the Company"). Nettron Media Group, Inc.
        was incorporated on May 8, 1999.
      Effective January 1, 2001 the Company disposed of its
        interest in two wholly-owned subsidiaries, Bikestar Rentals Inc. (formerly
        Good Times Roll Bicycle Rentals) ("Bikestar") and Arizona Outback Adventures,
        LLC ("Arizona Outback") (Note 2). The comparative financial results of
        Bikestar and Arizona Outback for the years ended March 31, 2001 and 2000
        have been segregated and presented as discontinued operations on the Statements
        of Operations and Deficit and Cash Flows. With the disposition of Bikestar
        and Arizona Outback, the Company has no established source of revenue
        and thus has returned to the development stage.
      All significant intercompany transactions and balances
        have been eliminated on consolidation.
|--------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Capital Assets              | Capital assets are stated at cost less accumulated
        amortization.
      Amortization is provided on capital assets at the following
        annual rates, not exceeding the estimated useful lives of the capital
        assets.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                            | Controllers                     
        -           30 % diminishing-balance
        basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                            | Computer software        -
                 100 % diminishing-balance
        basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                            | Equipment                       -
                  20 % diminishing-balance
        basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                            | Costs incurred during the
        computer software application development stage are capitalized and will
        be amortized over the estimated useful life of the software once development
        is complete. All other costs related to the development of internal-use
        software are expensed as incurred.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

7

---

|Nettron.Com,
        Inc. Summary of Significant Accounting Policies (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|----------------------------------------------------------------------------------------------------------------------------------------

|Goodwill                     | Goodwill arising from the purchase of Bikestar and Arizona Outback
          was stated at cost and was being amortized on a straight-line basis
          over an estimated period of benefit of 5 years.The Company periodically
          evaluated the recoverability of the carrying amount of goodwill resulting
          from business acquisitions by assessing whether any impairment indications
          were present, including significant adverse changes in legal or economic
          factors that affect the business acquired. During the year ended March
          31, 2001, the Company wrote-off the remaining net book value of goodwill
          associated with the acquisitions of Arizona Outback and Bikestar.
|---------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Revenue Recognition          | Revenue earned by Arizona Outback and Bikestar
        through the outdoor adventure tours and bicycle rentals was recognized
        as adventure tours and the rentals of the bicycles to the end user occurred.
      No revenue has yet been recognized from the Company's
        interactive dating service operations. Activity in this business has been
        substantially reduced in Fiscal 2002.                                                                                                                                                                                                                                                                                                                                
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Foreign Currency             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Transactions and Translation | Amounts denominated in US dollars have been translated
      into Canadian dollars as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                             | (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                             | (b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                             | (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                             | All exchange gains and losses are charged to Operations.
        Exchange rates in effect during the years covered by these financial
          statements are as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    

| |          | 2002   |  | 2001   |  | 2000   | 
| | -------- | ------ |  | ------ |  | ------ | 
| |          |        |  |        |  |        | 
| | Year end | 1.5953 |  | 1.5767 |  | 1.4549 | 
| | Average  | 1.5655 |  | 1.5038 |  | 1.4703 | 

8

---

|Nettron.Com,
        Inc. Summary of Significant Accounting Policies (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|----------------------------------------------------------------------------------------------------------------------------------------

|Use of Estimates | The preparation of the consolidated financial statements
        in accordance with Canadian generally accepted accounting principles 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 management's best estimates as
        additional information becomes available in the future.                                                                                                                                                                                                                                         
|---------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Loss per Share   | During the year ended March 31, 2002, the Company adopted
        the "Treasury Stock Method" to calculate loss per common share. Under
        this method, the basic loss per share is calculated based on the weighted
        average aggregate number of common shares outstanding during each period.
        The diluted earnings per share assumes that the outstanding stock options
        and share purchase warrants had been exercised at the beginning of the
        period.
      Common equivalent shares (consisting of shares issuable
        on exercise of stock options and warrants) totalling 612,500 (2001 -1,974,144;
        2000 - 2,711,778) are only included in the computation of diluted earnings
        per share to the extent they are dilutive.
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Stock Options    | At the date of issuance of stock options, the exercise
        price of the options is generally equal to the market value of the common
        shares. Accordingly, no compensation is recognized when stock options
        are granted to officers, directors and consultants. Consideration paid
        on the exercise of stock options is credited to share capital.                                                                                                                                                                                                                                                                                                                                                                                                           
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Income Taxes     | The Company has adopted the recommendations of CICA
        Handbook Section 3465 "Income Taxes" which requires use of the liability
        method. Under this method, income taxes reflect the deferral of such taxes
        to future years. The deferral is a result of temporary differences which
        arise when certain costs are claimed for tax purposes in different time
        periods than the related amounts are amortized in the accounts.                                                                                                                                                                                                                                                                                                                       

9

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|--------------------------------------------------------------------------------------------------------------------------------------------

|1. | Nature of Business and Ability to Continue
        as a Going Concern
      The Company was incorporated under the Alberta Business
        Corporations Act on January 19, 1996 and was in the business of marketing
        its interactive dating service "Cupid's Web". With the sale of Bikestar
        and Arizona Outback, the Company's prinicipal business is located in Canada.
      These consolidated financial statements have been prepared
        in accordance with Canadian generally accepted accounting principles applicable
        to a going concern which contemplates the realization of assets and the
        satisfaction of liabilities and commitments in the normal course of business.
        During the year ended March 31, 2001, the Company disposed of two of its
        subsidiaries (Note 2) to focus its effort on the development of the interactive
        dating service. Upon the sale of Bikestar and Arizona Outback in fiscal
        2001, the Company has returned to the development stage as the remaining
        business has not yet generated revenue and planned principal operations
        have not yet commenced. As at March 31, 2002, due to difficulties encountered
        in raising financing, the Company has substantially reduced its activity
        in the interactive dating service business, has accumulated losses totalling
        $3,250,462 and had a working capital deficiency of $265,947. The continuation
        of the Company is dependent upon the financial support of shareholders
        as well as obtaining long-term financing so the Company can recommence
        the development and marketing of memberships on its interactive platform
        "Cupid's Web" and work towards profitable operations. While the Company
        continues to review its involvement in the interactive dating service
        business, it has also been exploring other business opportunities that
        might allow the Company to restart commercial operations. Management is
        currently seeking new sources of equity financing. While the Company is
        expending its best efforts to achieve the above plans, there is no assurance
        that any such activity will generate funds that will be available for
        operations.
      These conditions raise substantial doubt about the Company's
        ability to continue as a going concern. These financial statements do
        not include any adjustments that might arise from this uncertainty.
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|2. | Dispositions
      On January 1, 2001, the Company made the decision to
        dispose of all of the issued and outstanding capital stock of Arizona
        Outback and Bikestar, the sale of which was effective January 1, 2001.
        Total proceeds on the sale were approximately $132,380, with $23,024 in
        cash received on closing and the balance of $109,356 representing the
        assumption of certain debt and payables by the purchaser. As a condition
        of the disposal, the Company was required to cancel the 280,000 common
        shares that were held in escrow under the Second Escrow Agreement (Note
        4(b)). These escrow shares were cancelled on April 10, 2001.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

10

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|--------------------------------------------------------------------------------------------------------------------------------------------

|**2.** | Dispositions - Continued
      The financial results of Arizona Outback and Bikestar
        have been segregated and presented as a discontinued operations on the
        Statements of Operations and Deficit and Cash Flows. The Statement of
        Operations for the year ended March 31, 2001 includes a loss on the disposal
        of the net assets associated with Arizona Outback and Bikestar and a write-off
        of the remaining net book value of goodwill recorded on the acquisition
        of these entities in June 1998. The results of discontinued operations
        are summarized as follows:
|------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | For
      the years ended March 31          |   | 2002 |  |   | 2001     |   |   | 2000     |  
| | ------------------------------------------- | - | ---- |  | - | -------- | - | - | -------- | -
| |                                             |   |      |  |   |          |   |   |          |  
| |                                             |   |      |  |   |          |   |   |          |  
| | Revenue                                     | $ | -    |  | $ | 419,486  |   | $ | 226,692  |  
| |                                             |   |      |  |   |          |   |   |          |  
| | Loss from operations                        |   | -    |  |   | (141,947 | ) |   | (245,354 | )
| |                                             |   |      |  |   |          |   |   |          |  
| | Loss on sale of net assets                  |   | -    |  |   | (18,691  | ) |   | -        |  
| | Write-off of goodwill                       |   | -    |  |   | (107,967 | ) |   | -        |  
| |                                             |   |      |  |   |          |   |   |          |  
| | Loss on disposal of discontinued operations |   | -    |  |   | (126,658 | ) |   | -        |  
| |                                             |   |      |  |   |          |   |   |          |  
| | Loss from discontinued operations           | $ | -    |  | $ | (268,605 | ) | $ | (245,354 | )
| |                                             |   |      |  |   |          |   |   |          |  
| |                                             |   |      |  |   |          |   |   |          |  
| | Loss per share from discontinued            |   |      |  |   |          |   |   |          |  
| | operations
      is summarized as follows:  |   |      |  |   |          |   |   |          |  
| | from
      operations                       | $ | -    |  | $ | (0.02    | ) | $ | (0.06    | )
| | on
      disposal of net assets             |   | -    |  |   | (0.02    | ) |   | -        |  
| |                                             |   |      |  |   |          |   |   |          |  
| |                                             | $ | -    |  | $ | (0.04    | ) | $ | (0.06    | )

| | The Consolidated Balance Sheets do not include any net assets related
      to the discontinued operations.
| | -----------------------------------------------------------------------------------------------------------

11

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|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|--------------------------------------------------------------------------------------------------------------------------------------------

|3. | Capital Assets
|-- | --------------

| |                   |   | 2002   |  |   | 2001         | 
| | ----------------- | - | ------ |  | - | ------------ | 
| |                   |   |        |  |   |              | 
| |                   |   |        |  |   | Accumulated  | 
| |                   |   | Cost   |  |   | Amortization | 
| |                   |   |        |  |   |              | 
| | Controllers       | $ | 37,197 |  | $ | 22,292       | 
| | Computer software |   | 20,611 |  |   | 20,611       | 
| | Equipment         |   | -      |  |   | -            | 
| |                   |   |        |  |   |              | 
| |                   |   | 57,808 |  |   | 42,903       | 
| |                   |   |        |  |   |              | 
| | Net book value    |   |        |  | $ | 14,905       | 

|   | Equipment with
        a net book value of $9,544 (which approximated market value) was sold
        to an officer in exchange for services and the reimbursement of expenses
        paid for on behalf of the Company.
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                         
|4. | Share Capital                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                         
|   | Authorized                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                         
|   | Issued                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                         

| |                                                       | Number of |   |   |           | 
| | ----------------------------------------------------- | --------- | - | - | --------- | 
| |                                                       | Shares    |   |   | Amount    | 
| |                                                       |           |   |   |           | 
| | Balance, April 1, 1999                                | 1,831,740 |   | $ | 769,019   | 
| |                                                       |           |   |   |           | 
| | Issued during the year                                |           |   |   |           | 
| | For cash                                              |           |   |   |           | 
| | On
      private placements, including 310,000 shares |           |   |   |           | 
| | issued
      for a finders fee                        | 3,810,000 |   |   | 1,261,000 | 
| | On
      exercise of warrants                         | 120,000   |   |   | 120,000   | 
| | For conversion of
      convertible debentures (*)    | 196,000   |   |   | 245,000   | 
| |                                                       |           |   |   |           | 
| | Balance, March 31, 2000                               | 5,957,740 |   |   | 2,395,019 | 
| |                                                       |           |   |   |           | 
| | Issued during the year                                |           |   |   |           | 
| | For
      cash on exercise of warrants                | 621,134   |   |   | 443,901   | 
| | For conversion of
      convertible debentures (*)    | 124,000   |   |   | 155,000   | 
| | For
      cash on exercise of stock options           | 12,500    |   |   | 5,500     | 
| |                                                       |           |   |   |           | 
| | Balance, March 31, 2001                               | 6,715,374 |   |   | 2,999,420 | 
| |                                                       |           |   |   |           | 
| | Escrow shares cancelled during the year (Note 4(b))   | (280,000  | ) |   | -         | 
| |                                                       |           |   |   |           | 
| | Balance, March 31, 2002                               | 6,435,374 |   | $ | 2,999,420 | 

12

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|--------------------------------------------------------------------------------------------------------------------------------------------

|4. | Share Capital - Continued
|-- | -------------------------
|   |                          
|   | (*)                      
|   |                          
|   | b)                       

| |  |                   | Number
      of Escrow Shares |  
| |  | ----------------- | ----------------------------- | -
| |  |                   |                               |  
| |  |                   | First                         |  
| |  |                   | Agreement                     |  
| |  |                   |                               |  
| |  |                   |                               |  
| |  | April 1, 1999     | 533,333                       |  
| |  | Released in year  | (177,777                      | )
| |  |                   |                               |  
| |  | March 31, 2000    | 355,556                       |  
| |  | Released in year  | (177,778                      | )
| |  |                   |                               |  
| |  | March 31, 2001    | 177,778                       |  
| |  | Released in year  | (177,778                      | )
| |  | Cancelled in year | -                             |  
| |  |                   |                               |  
| |  | March 31, 2002    | -                             |  

| |    | i)                                                                                                                            | Pursuant to the first escrow agreement, the release
        of these shares occurred in each of the three years ended March 31, 2002
        with the consent of the Executive Director of the Alberta Securities Commission.                                                                                                                                                                                                                                                                                                                                                                                                                             
| | -- | ----------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |    |                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| |    | ii)                                                                                                                           | Pursuant to the second escrow agreement, 280,000 of
        the common shares were to be released on a basis of one share per $1.25
        in cash flow generated. As part of the agreement to dispose of Arizona
        Outback and Bikestar (Note 2), 280,000 performance based escrow shares
        were cancelled in April 2001. The remaining 12,032 common shares were
        released from escrow subsequent to March 31, 2002.
      The escrow shares were recorded as cancelled in the
        2002 financial statements. On issuance they were given a nominal cost
        base. Hence, the nominal amount was removed from share capital.
| |    |                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| | c) | During the year ended March
        31, 2000, the Company issued common shares through private placements
        as follows:
| |    |                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| |    | i)                                                                                                                            | 3,410,000 units (including 310,000 units issued as
        a finders fee) at $0.33 per unit. Each unit consisted of one common share
        and one-half a share purchase warrant with a full warrant exercisable
        until August 4, 2001 at $0.50 per share. The value assigned to the finders
        fee was recorded as a reduction of total proceeds of the share issuance.
        During the year ended March 31, 2001, 443,356 warrants were exercised
        and the remaining 1,261,644 warrants expired on August 4, 2001.                                                                                                              

13

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|--------------------------------------------------------------------------------------------------------------------------------------------

|4. | Share Capital - Continued
|-- | -------------------------
|   |                          
|   |                          
|   |                          
|   |                          
|   |                          
|   | d)                       

| |  |                                               |           |   |   | Weighted | 
| |  | --------------------------------------------- | --------- | - | - | -------- | 
| |  |                                               |           |   |   | Average  | 
| |  |                                               | Number of |   |   | Exercise | 
| |  |                                               | Options   |   |   | Price    | 
| |  | Number of options outstanding, April 1, 1999  | 183,174   |   | $ | 1.25     | 
| |  | Cancelled                                     | (183,174  | ) |   | 1.25     | 
| |  | Granted                                       | 525,000   |   |   | 0.44     | 
| |  |                                               |           |   |   |          | 
| |  | Number of options outstanding, March 31, 2000 | 525,000   |   |   | 0.44     | 
| |  | Granted                                       | 100,000   |   |   | 2.00     | 
| |  | Exercised                                     | (12,500   | ) |   | 0.44     | 
| |  |                                               |           |   |   |          | 
| |  | Number of options outstanding, March 31, 2001 | 612,500   |   |   | 0.70     | 
| |  | Granted                                       | -         |   |   | -        | 
| |  | Exercised                                     | -         |   |   | -        | 
| |  |                                               |           |   |   |          | 
| |  | Number of options outstanding, March 31, 2002 | 612,500   |   | $ | 0.70     | 

| |  | Stock options outstanding at March 31, 2002 are summarized as follows:
| |  | ----------------------------------------------------------------------

| |  |  | Expiry Date        |   | Exercise
      Price |  | Stock
      Options | 
| |  |  | ------------------ | - | -------------------- |  | ------------------- | 
| |  |  |                    |   |                      |  |                     | 
| |  |  | September 10, 2004 | $ | 0.44                 |  | 512,500             | 
| |  |  | March 27, 2005     | $ | 2.00                 |  | 100,000             | 
| |  |  |                    |   |                      |  |                     | 
| |  |  |                    |   |                      |  | 612,500             | 

14

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|--------------------------------------------------------------------------------------------------------------------------------------------

|**4.** | Share Capital - Continued
      As at March 31, 2002, 612,500 (2001 - 604,167; 2000 -
        525,000) of the outstanding stock options were fully vested and exercisable.
|------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                           
|       | e)                                                                                                                                                                        

| |  |                             |            |   |   | Weighted |  
| |  | --------------------------- | ---------- | - | - | -------- | -
| |  |                             |            |   |   | Average  |  
| |  |                             | Number of  |   |   | Exercise |  
| |  |                             | Warrants   |   |   | Price    |  
| |  |                             |            |   |   |          |  
| |  | Outstanding, April 1, 1999  | 177,778    |   | $ | 1.00     |  
| |  | Granted                     | 2,005,000  |   |   | 0.55     |  
| |  | Exercised                   | (120,000   | ) |   | 1.00     |  
| |  |                             |            |   |   |          |  
| |  | Outstanding, March 31, 2000 | 2,062,778  |   |   | 0.59     |  
| |  | Exercised                   | (621,134   | ) |   | 0.72     |  
| |  | Expired                     | (80,000    | ) |   | 1.00     |  
| |  |                             |            |   |   |          |  
| |  | Outstanding, March 31, 2001 | 1,361,644  |   |   | 0.50     |  
| |  | Expired                     | (1,361,644 | ) |   | (0.50    | )
| |  |                             |            |   |   |          |  
| |  | Outstanding, March 31, 2002 | -          |   | $ | -        |  

|       |                                                                                                                                                          
|------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                          
|**5.** | Income Taxes
      The tax effects of the temporary differences that give rise to the Company's
        future tax assets and liabilities are as follows:

| |                               |   | **2002**   |   |   | 2001       |  
| | ----------------------------- | - | ---------- | - | - | ---------- | -
| |                               |   |            |   |   |            |  
| |                               |   |            |   |   |            |  
| | Net operating losses          | $ | 967,615    |   | $ | 1,060,463  |  
| | Net capital losses            |   | 284,618    |   |   | 330,450    |  
| | Valuation allowance           |   | (1,252,233 | ) |   | (1,390,913 | )
| |                               |   |            |   |   |            |  
| | Future tax assets (liability) | $ | -          |   | $ | -          |  

15

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|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|--------------------------------------------------------------------------------------------------------------------------------------------

|**5.** | Income Taxes - Continued
      The provision for income taxes differs from the amount
        established using the statutory income tax rate for British Columbia resident
        corporations not eligible for the small business deduction as follows:
|------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |                                                |   | 2002     |   |   | 2001      |   |   | 2000     |  
| | ---------------------------------------------- | - | -------- | - | - | --------- | - | - | -------- | -
| |                                                |   |          |   |   |           |   |   |          |  
| | Provision (benefit) at Canadian statutory rate |   |          |   |   |           |   |   |          |  
| | Continued operations                           | $ | (54,234  | ) | $ | (601,901  | ) | $ | (296,498 | )
| | Discontinued
      operations                  |   | -        |   |   | (123,558  | ) |   | (112,862 | )
| | Permanent differences                          |   | -        |   |   | (290,783  | ) |   | 17,998   |  
| | Effect of reduction in tax rates               |   | 192,914  |   |   | -         |   |   | -        |  
| | (Decrease) increase in valuation allowance     |   | (138,680 | ) |   | 1,016,242 |   |   | 391,362  |  
| |                                                |   |          |   |   |           |   |   |          |  
| |                                                | $ | -        |   | $ | -         |   | $ | -        |  

|       | The Company evaluates its valuation allowance requirements
        based on projected future operations. When circumstances change and this
        causes a change in management's judgement about the recoverability of
        future tax assets, the impact of the change in the valuation allowance
        is reflected in current income.
      The Company has non-capital losses available for income
        tax purposes in Canada and the United States totalling $2,442,240 (2001
        - $2,305,355) which expire in various amounts from 2005 to 2022. This
        amount can be used to reduce taxable income of future years. Additionally,
        the Company has capital losses of $1,436,740 which are available to reduce
        capital gains in future periods.
|------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|**6.** | Financial Instruments
        The Company's financial instruments consist of cash, receivables and
          accounts payable and accrued liabilities. Unless otherwise noted, it
          is management's opinion that the Company is not exposed to significant
          interest or credit risks arising from these financial instruments. As
          at March 31, 2002 and 2001, the fair value of cash, receivables and
          accounts payable and accrued liabilities approximated their carrying
          values due to the immediate or short-term maturity of these instruments.                                                                                                                                                                                         

16

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|--------------------------------------------------------------------------------------------------------------------------------------------

|**6.** | Financial Instruments - Continued
      Financial assets and liabilities are denominated in
        the following currencies:
|------ | -----------------------------------------------------------------------------------------------------------------------------

| |                 |   | **2002**  |  |   | 2001        | 
| | --------------- | - | --------- |  | - | ----------- | 
| |                 |   |           |  |   |             | 
| |                 |   | Financial |  |   | Financial   | 
| |                 |   | Assets    |  |   | Liabilities | 
| |                 |   |           |  |   |             | 
| |                 |   |           |  |   |             | 
| | U.S. dollar     | $ | 352       |  | $ | 87,428      | 
| | Canadian dollar |   | 9,270     |  |   | 188,141     | 
| |                 |   |           |  |   |             | 
| |                 | $ | 9,622     |  | $ | 275,569     | 

|   |                                                                                                                                                                                                                                                                                                                                                                   |                                                                                                                                                         
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------
|7. | Segmented Information
      With the disposal of Arizona Outback and Bikestar on
        January 1, 2001, the Company and its subsidiary now operate in one industry
        segment, the development and marketing of the internet marketing service
        "Cupid's Web". The Company's principal business is now located in British
        Columbia, Canada.
|   |                                                                                                                                                                                                                                                                                                                                                                   |                                                                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                                                                   |                                                                                                                                                         
|8. | Related Party Transactions
      Related party transactions not disclosed elsewhere in
        these consolidated financial statements are as follows:                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                   |                                                                                                                                                         
|   | a)                                                                                                                                                                                                                                                                                                                                                                | Included in accounts payable and accrued
        liabilities is $83,768 (2001 - $63,908) due to directors and companies
        controlled by directors.

17

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|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|--------------------------------------------------------------------------------------------------------------------------------------------

|**8.** | Related Party Transactions - Continued
|------ | --------------------------------------
|       |                                       
|       | b)                                    

| |  |                                     |   | 2002   |  |   | 2001    |  |   | 2000    | 
| |  | ----------------------------------- | - | ------ |  | - | ------- |  | - | ------- | 
| |  |                                     |   |        |  |   |         |  |   |         | 
| |  |                                     |   |        |  |   |         |  |   |         | 
| |  | Consulting                          | $ | 5,000  |  | $ | 9,023   |  | $ | -       | 
| |  | Management fees                     | $ | 36,000 |  | $ | 132,319 |  | $ | 125,214 | 
| |  | Rent                                | $ | 3,179  |  | $ | 4,500   |  | $ | 9,000   | 
| |  | Office and miscellaneous            | $ | 2,564  |  | $ | -       |  | $ | -       | 
| |  | Expenses pertaining to discontinued |   |        |  |   |         |  |   |         | 
| |  | operations                          |   |        |  |   |         |  |   |         | 
| |  | Management
      fees               | $ | -      |  | $ | 59,286  |  | $ | 86,466  | 
| |  | Other                               | $ | -      |  | $ | 51,635  |  | $ | 62,532  | 

|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | These transactions have been recorded
        at the exchange amount, being the consideration established and agreed
        to by the related parties.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                        
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                        
|9.  | Contingent Liability
      The Company is subject to several claims and legal proceedings
        covering a variety of matters that arose in the ordinary course of business
        activities. The maximum claim against the Company exceeds the amount accrued
        by approximately $81,000. Each of these matters is subject to various
        uncertainties and it is possible that some of these matters may be resolved
        unfavourably to the Company. The amount by which the settlement, if any,
        differs from the accrual will be recorded in the period of settlement.
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                        
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                        
|10. | Subsequent Event
      Subsequent to March 31, 2002 the Company announced a
        private placement to sell up to 1,000,000 common shares at US$0.05 per
        share. The private placement is subject to regulatory approval and no
        shares have yet been issued. To date, the Company has received proceeds
        of $11,600.                                                                                                                                                                                                                                                        
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                        
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                        
|11. | United States Accounting
        Principles
      The consolidated financial statements have been prepared
        in accordance with Canadian generally accepted accounting principles ("Canadian
        GAAP") which, in the case of the Company, conform in all material respects
        with those of the United States ("US GAAP") and with the requirements
        of the Securities and Exchange Commission ("SEC"), except as follows:                                                                                                                                                   

18

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|--------------------------------------------------------------------------------------------------------------------------------------------

|**8.** | United States Accounting
        Principles - Continued
|------ | -------------------------------------------------------
|       |                                                        
|       | a)                                                     
|       |                                                        
|       | b)                                                     

19

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|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|--------------------------------------------------------------------------------------------------------------------------------------------

|11. | United States Accounting Principles - Continued
|--- | -----------------------------------------------

| |  |                                                | 2002 |  | 2001      |  | 2000  | 
| |  | ---------------------------------------------- | ---- |  | --------- |  | ----- | 
| |  |                                                |      |  |           |  |       | 
| |  |                                                |      |  |           |  |       | 
| |  | Risk-free interest rate                        | -    |  | 4.94%     |  | 5.59% | 
| |  | Dividend yield                                 | -    |  | -%        |  | -%    | 
| |  | Volatility factor of the expected market price |      |  |           |  |       | 
| |  | of the Company's
      common shares           | -    |  | 96 - 120% |  | 311%  | 
| |  | Weighted-average expected life of the options  |      |  |           |  |       | 
| |  | (months)                                       | -    |  | 36        |  | 36    | 

| | c) | In June 2001, the Financial Accounting Standards Board
        finalized FASB Statements No. 141, Business Combinations ("SFAS
        141"), and No. 142,Goodwill and Other Intangible Assets
        ("SFAS 142"). SFAS 141 requires the use of the purchase method of accounting
        and prohibits the use of the pooling-of-interest method of accounting
        for business combinations initiated after June 30, 2001. SFAS 141 also
        requires that the Company recognize acquired intangible assets apart from
        goodwill if the acquired intangible assets meet certain criteria. SFAS
        141 applies to all business combinations initiated after June 30, 2001
        and for purchase business combinations completed on or after July 1, 2001.
        It also requires, upon adoption of SFAS 142, that the Company reclassify
        the carrying amounts of intangible assets and goodwill based on the criteria
        in SFAS 141.
      SFAS 142 requires, among other things, that companies
        no longer amortize goodwill, but instead test goodwill for impairment
        at least annually. In addition, SFAS 142 requires that the Company identify
        reporting units for the purposes of assessing potential future impairments
        of goodwill, reassess the useful lives of other existing recognized intangible
        assets, and cease amortization of intangible assets with an indefinite
        useful life. An intangible asset with an indefinite useful life should
        be tested for impairment in accordance with the guidance in SFAS 142.
        SFAS 142 is required to be applied in fiscal years beginning after December
        15, 2001 to all goodwill and other intangible assets recognized at that
        date, regardless of when those assets were initially recognized. SFAS
        142 requires the Company to complete a transitional goodwill impairment
        test six months from the date of adoption. The Company is also required
        to reassess the useful lives of other intangible assets within the first
        interim quarter after adoption of SFAS 142.
      The Company's previous business combinations were accounted
        for using the purchase method. During the year ended March 31, 2001 the
        net book value of goodwill was written off as part of the disposition
        of Arizona Outback and Bikestar (Note 2). US GAAP Amortization expense
        during the year ended March 31, 2002 was $Nil (2001 - $90,019; 2000 -
        $120,025).
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

20

---

|Nettron.Com,
        Inc. Notes to the Consolidated Financial Statements (Expressed in Canadian Dollars)
      March 31, 2002, 2001 and 2000
|--------------------------------------------------------------------------------------------------------------------------------------------

|**11.** | United States Accounting Principles - Continued
|------- | -----------------------------------------------
|        |                                                
|        |                                                

| |  |                                           |   | 2002      |   |   | 2001       |   |   | 2000       |  
| |  | ----------------------------------------- | - | --------- | - | - | ---------- | - | - | ---------- | -
| |  |                                           |   |           |   |   |            |   |   |            |  
| |  | Loss from continued operations in         |   |           |   |   |            |   |   |            |  
| |  | accordance with
      Canadian GAAP       | $ | (136,885  | ) | $ | (1,308,481 | ) | $ | (644,560   | )
| |  | Stock option compensation (b)             |   | -         |   |   | (174,429   | ) |   | (118,828   | )
| |  |                                           |   |           |   |   |            |   |   |            |  
| |  | Loss from continued operations in         |   |           |   |   |            |   |   |            |  
| |  | accordance with
      US GAAP             |   | (136,885  | ) |   | (1,482,910 | ) |   | (763,388   | )
| |  |                                           |   |           |   |   |            |   |   |            |  
| |  | Loss from discontinued operations in      |   |           |   |   |            |   |   |            |  
| |  | accordance
      with Canadian GAAP       |   | -         |   |   | (268,605   | ) |   | (245,354   | )
| |  | Amortization of goodwill (a)              |   | -         |   |   | (57,618    | ) |   | (76,824    | )
| |  | Write-off of goodwill (a)                 |   | -         |   |   | (192,061   | ) |   | -          |  
| |  |                                           |   |           |   |   |            |   |   |            |  
| |  | Loss from discontinued operations in      |   |           |   |   |            |   |   |            |  
| |  | accordance with
      US GAAP             |   | -         |   |   | (518,284   | ) |   | (322,178   | )
| |  |                                           |   |           |   |   |            |   |   |            |  
| |  | Loss and comprehensive loss in            |   |           |   |   |            |   |   |            |  
| |  | accordance
      with US GAAP             | $ | (136,885  | ) | $ | (2,001,194 | ) | $ | (1,085,566 | )
| |  |                                           |   |           |   |   |            |   |   |            |  
| |  | Loss per share in accordance with US GAAP |   |           |   |   |            |   |   |            |  
| |  | From continued operations                 | $ | (0.02     | ) | $ | (0.25      | ) | $ | (0.18      | )
| |  | Discontinued
      operations             |   | -         |   |   | (0.09      | ) |   | (0.08      | )
| |  |                                           |   |           |   |   |            |   |   |            |  
| |  | After
      discontinued operations       | $ | (0.02     | ) | $ | (0.34      | ) | $ | (0.26      | )
| |  |                                           |   |           |   |   |            |   |   |            |  
| |  | Weighted average common shares in         |   |           |   |   |            |   |   |            |  
| |  | accordance with
      US GAAP (a)         |   | 6,447,041 |   |   | 5,904,074  |   |   | 4,239,429  |  

21

---

NETTRON.COM, INC.

AUDITORS REPORT AND

CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2003, 2002 AND 2001
  (Expressed in Canadian Dollars)

---

Nettron.Com, Inc.

March 31, 2003

(Expressed in Canadian Dollars)

Index

|                                           | Page   | 
|------------------------------------------ | ------ | 
|                                           |        | 
|AUDITORS REPORT                           | 1      | 
|                                           |        | 
|CONSOLIDATED FINANCIAL STATEMENTS          |        | 
|                                           |        | 
|Balance
      Sheets                       | 2      | 
|                                           |        | 
|Statements
      of Operations and Deficit | 3      | 
|                                           |        | 
|Statements
      of Cash Flows             | 4      | 
|                                           |        | 
|Notes
      to the Financial Statements    | 5 - 17 | 

---

AUDITORS REPORT

To: The Shareholders of 
         Nettron.Com, Inc.

We have audited the consolidated balance sheet of Nettron.Com,
  Inc. as at March 31, 2003 and the consolidated statements of operations and
  deficit and cash flows for the year ended March 31, 2003. These financial statements
  are the responsibility of the Company's management. Our responsibility is to
  express an opinion on these financial statements based on our audit.

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

In our opinion, these financial statements present fairly,
  in all material respects, the financial position of the Company as at March
  31, 2003 and the results of its operations and cash flows for the year then
  ended in accordance with accounting principles generally accepted in Canada
  applied on a consistent basis.

The comparative figures for 2002 and 2001 were audited by
  other auditors who expressed their opinion without reservation in the reports
  dated August 27, 2002 and August 8, 2001.

|                  | Charlton & Company 
|----------------- | ---------------------
|                  |                      
|Vancouver, Canada | CHARTERED ACCOUNTANTS
|August 12, 2003   |                      

Comments by Auditor for U.S. Readers on Canada - U.S. Reporting
  Difference

In the United States, reporting standards for auditors require
  the addition of an explanatory paragraph (following the opinion paragraph) when
  the financial statements are affected by conditions and events that cast substantial
  doubt on the company's ability to continue as a going concern, such as those
  described in Note 2 to the consolidated financial statements. Our report to
  the shareholders dated August 12, 2003 is expressed in accordance with Canadian
  reporting standards which do not permit a reference to such events and conditions
  in the auditor's report when these are adequately disclosed in the financial
  statements.



|                  | Charlton & Company 
|----------------- | ---------------------
|                  |                      
|Vancouver, Canada | CHARTERED ACCOUNTANTS
|August 12, 2003   |                      

Page 1

---

|Nettron.Com,
      Inc. Consolidated Balance Sheets
      As at March 31, 2003 (Expressed in Canadian Dollars)
|--------------------------------------------------------------------------------------------------------------

|                                                 |   | 2003       |   |   | 2002       |  
|------------------------------------------------ | - | ---------- | - | - | ---------- | -
|                                                 |   |            |   |   |            |  
|ASSETS                                           |  
|                                                 |   |            |   |   |            |  
|Current                                          |   |            |   |   |            |  
|Cash and term deposits                           | $ | 7,786      |   | $ | 929        |  
|Accounts receivable                              |   | 675        |   |   | 8,693      |  
|                                                 |   | 8,461      |   |   | 9,622      |  
|Property and equipment(Note 4)                   |   | 10,405     |   |   | 14,905     |  
|                                                 | $ | 18,866     |   | $ | 24,527     |  
|                                                 |   |            |   |   |            |  
|LIABILITIES AND SHAREHOLDERS
        DEFICIENCY |  
|                                                 |   |            |   |   |            |  
|Current                                          |   |            |   |   |            |  
|Accounts payable
      and accrued liabilities   | $ | 172,097    |   | $ | 275,569    |  
|Shareholder loan                                 |   | 15,378     |   |   | -          |  
|                                                 |   | 187,475    |   |   | 275,569    |  
|                                                 |   |            |   |   |            |  
|Shareholders deficiency                         |   |            |   |   |            |  
|Share capital (Note
      5)                     |   | 2,999,420  |   |   | 2,999,420  |  
|Deficit, per accompanying
      statement        |   | (3,168,029 | ) |   | (3,250,462 | )
|                                                 |   | (168,609   | ) |   | (251,042   | )
|                                                 | $ | 18,866     |   | $ | 24,527     |  

Approved by the Board:

|Douglas
      S. Ford | Director |  | Malcolm
      E. Rogers, Jr. | Director
|----------------------- | -------- |  | ------------------------------ | --------
|Douglas S., Ford        |          |  | Malcolm E. Rogers, Jr.         |         

|See accompanying notes. | Page 2
|----------------------- | ------

---

|Nettron.Com,
      Inc. Consolidated Statements of Operations and Deficit
      
      Year Ended March 31, 2003 (Expressed in Canadian Dollars)
|------------------------------------------------------------------------------------------------------------------------------------------------

|                                                           |   | 2003       |   |   | 2002       |   |   | 2001       |  
|---------------------------------------------------------- | - | ---------- | - | - | ---------- | - | - | ---------- | -
|Expenses                                                   |   |            |   |   |            |   |   |            |  
|Advertising and
      promotion                            | $ | 289        |   | $ | -          |   | $ | 32,460     |  
|Amortization                                               |   | 4,500      |   |   | 11,575     |   |   | 21,583     |  
|Consulting                                                 |   | -          |   |   | 5,667      |   |   | 149,663    |  
|Filing and transfer
      agent fees                       |   | 8,260      |   |   | 4,944      |   |   | 16.624     |  
|Interest on long-term
      debt and convertible debenture |   | -          |   |   | -          |   |   | 5,038      |  
|Management fees                                            |   | 4,500      |   |   | 36,000     |   |   | 132,317    |  
|Office and miscellaneous                                   |   | 477        |   |   | 9,359      |   |   | 49,899     |  
|Professional fees
      (recovery)                         |   | (104,163   | ) |   | 35,317     |   |   | 658,159    |  
|Rent                                                       |   | 4,500      |   |   | 17,337     |   |   | 46,906     |  
|Telephone and utilities                                    |   | -          |   |   | 988        |   |   | 24,588     |  
|Travel                                                     |   | -          |   |   | 360        |   |   | 69,216     |  
|Wages and benefits                                         |   | -          |   |   | -          |   |   | 151,521    |  
|Website servicing                                          |   | -          |   |   | 1,597      |   |   | 18,191     |  
|Income (loss) from operations                              |   | 81,637     |   |   | (123,144   | ) |   | (1,376,165 | )
|Other income (expense)                                     |   |            |   |   |            |   |   |            |  
|Interest                                                   |   | 796        |   |   | 767        |   |   | 13,097     |  
|Foreign exchange
      gain (loss)                         |   | -          |   |   | (14,508    | ) |   | 54,587     |  
|                                                           |   | 796        |   |   | (13,741    | ) |   | 67,684     |  
|Income (loss) from continued operations                    |   | 82,433     |   |   | (136,885   | ) |   | (1,308,481 | )
|Loss from discontinued operations                          |   | -          |   |   | -          |   |   | (268,605   | )
|Net income (loss) for the year                             |   | 82,433     |   |   | (136,885   | ) |   | (1,577,086 | )
|Deficit, beginning of year                                 |   | (3,250,462 | ) |   | (3,113,577 | ) |   | (1,536,491 | )
|Deficit, end of year                                       | $ | (3,168,029 | ) | $ | (3,250,462 | ) | $ | (3,113,577 | )
|Net income (loss) per share  basic and diluted            |   |            |   |   |            |   |   |            |  
|From continued operations                                  | $ | 0.01       |   | $ | (0.02      | ) | $ | (0.21      | )
|Discontinued operations
      (Note 3)                     |   | -          |   |   | -          |   |   | (0.04      | )
|After discontinued
      operations                        | $ | 0.01       |   | $ | (0.02      | ) | $ | (0.25      | )
|Weighted average shares outstanding                        |   | 6,435,374  |   |   | 6,447,041  |   |   | 6,184,074  |  

|See accompanying notes. | Page 3
|----------------------- | ------

---

|Nettron.Com,
      Inc. Consolidated Statements of Cash Flows 
      Year Ended March 31, 2003 (Expressed in Canadian Dollars)
|------------------------------------------------------------------------------------------------------------------------------

|                                                                    |   | 2003     |   |   | 2002     |   |   | 2001       |  
|------------------------------------------------------------------- | - | -------- | - | - | -------- | - | - | ---------- | -
|Cash flows provided by (used in)                                    |   |          |   |   |          |   |   |            |  
|Operating activities                                                |   |          |   |   |          |   |   |            |  
|Net income (loss)
      from continued operations                   | $ | 82,433   |   | $ | (136,885 | ) | $ | (1,308,481 | )
|Items not involving
      cash:                                     |   |          |   |   |          |   |   |            |  
|Amortization
      of property and equipment                        |   | 4,500    |   |   | 11,575   |   |   | 21,583     |  
|Property
      and equipment provided in exchange for services      |   | -        |   |   | 9,544    |   |   | -          |  
|                                                                    |   | 86,933   |   |   | (115,766 | ) |   | (1,286,898 | )
|Changes in non-cash
      working capital balances                  |   |          |   |   |          |   |   |            |  
|Accounts
      receivable                                           |   | 8,018    |   |   | 3,450    |   |   | (6,791     | )
|Prepaid
      expenses                                              |   | -        |   |   | 9,513    |   |   | 46,040     |  
|Accounts
      payable and accrued liabilities                      |   | (103,472 | ) |   | (15,581  | ) |   | 186,708    |  
|Cash used in continued
      operations                             |   | (8,521   | ) |   | (118,384 | ) |   | (1,060,941 | )
|Cash used in discontinued
      operations                          |   | -        |   |   | -        |   |   | (4,120     | )
|                                                                    |   | (8,521   | ) |   | (118,384 | ) |   | (1,065,061 | )
|Investing activities                                                |   |          |   |   |          |   |   |            |  
|Purchase of property
      and equipment                            |   | -        |   |   | -        |   |   | (11,607    | )
|Disposal of cash
      in discontinued operations                   |   | -        |   |   | -        |   |   | (2,999     | )
|Purchase of property
      and equipment in discontinued operations |   | -        |   |   | -        |   |   | (7,268     | )
|Decrease in advances
      to affiliated company on discontinued    |   |          |   |   |          |   |   |            |  
|operations                                                          |   | -        |   |   | -        |   |   | 4,533      |  
|                                                                    |   | -        |   |   | -        |   |   | (17,341    | )
|Financing activities                                                |   |          |   |   |          |   |   |            |  
|Proceeds on issuance
      of shares and share subscriptions        |   | 15,378   |   |   | -        |   |   | 449,401    |  
|Repayment of long-term
      debt on discontinued operations        |   | -        |   |   | -        |   |   | (4,742     | )
|                                                                    |   | 15,378   |   |   | -        |   |   | 444,659    |  
|Increase (decrease) in cash                                         |   | 6,857    |   |   | (118,384 | ) |   | (637,743   | )
|Cash, beginning of year                                             |   | 929      |   |   | 119,313  |   |   | 757,056    |  
|Cash, end of year                                                   | $ | 7,786    |   | $ | 929      |   | $ | 119,313    |  
|Supplemental disclosure of cash flow information                    |   |          |   |   |          |   |   |            |  
|Cash paid during the year for                                       |   |          |   |   |          |   |   |            |  
|Interest                                                            | $ | -        |   | $ | -        |   | $ | 5,038      |  
|Interest included
      in loss from discontinued operations        | $ | -        |   | $ | -        |   | $ | 2,051      |  
|Non-cash investing and financing activities                         |   |          |   |   |          |   |   |            |  
|Issuance of common
      shares upon conversion of convertible      |   |          |   |   |          |   |   |            |  
|debentures                                                          | $ | -        |   | $ | -        |   | $ | 155,000    |  
|Property and equipment
      provided in exchange for services      |   |          |   |   |          |   |   |            |  
|(Note
      4)                                                      | $ | -        |   | $ | 9,544    |   | $ | -          |  

|See accompanying notes. | Page 4
|----------------------- | ------

---

|Nettron.Com,
      Inc. Notes to the Consolidated Financial Statements
      
      March 31, 2003(Expressed in Canadian Dollars)
|---------------------------------------------------------------------------------------------------------------------------------

|1. | Significant Accounting Policies
|-- | -------------------------------
|   |                                
|   | (a)                            
|   |                                
|   | (b)                            

| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Controllers       | - | 30%  | diminishing balance basis
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | - | ---- | -------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Computer software | - | 100% | diminishing balance basis
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Equipment         | - | 20%  | diminishing balance basis
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                   |   |      |                          
| | (c) | Goodwill
        Goodwill arising from the purchase of Bikestar and Arizona Outback
          was stated at cost and was being amortized on a straight-line basis
          over an estimated period of benefit of five years. The Company periodically
          evaluated the recoverability of the carrying amount of goodwill resulting
          from business acquisitions by assessing whether any impairment indications
          were present, including significant adverse changes in legal or economic
          factors that affect the business acquired. During the year ended March
          31, 2001, the Company wrote-off the remaining net book value of goodwill
          associated with the acquisitions of Arizona Outback and Bikestar.

Page 5

---

|Nettron.Com,
      Inc. Notes to the Consolidated Financial Statements
      
      March 31, 2003(Expressed in Canadian Dollars)
|---------------------------------------------------------------------------------------------------------------------------------

|1. | Significant Accounting Policies(continued)                                                           
|-- | -----------------------------------------------------------------------------------------------------
|   |                                                                                                      
|   | (d)                                                                                                  
|   |                                                                                                      
|   | (e)                                                                                                  
|   |                                                                                                      
|   | (a)                                                                                                  
|   |                                                                                                      
|   | (b)                                                                                                  
|   |                                                                                                      
|   | (c)                                                                                                  
|   |                                                                                                      
|   | All exchange gains and losses are charged to
      operations.                                       
|   |                                                                                                      
|   | Exchange rates in effect during the years covered
      by these financial statements are as follows:

| |  |          | 2003   |  | 2002   |  | 2001   | 
| |  | -------- | ------ |  | ------ |  | ------ | 
| |  |          |        |  |        |  |        | 
| |  | Year end | 1.4716 |  | 1.5953 |  | 1.5757 | 
| |  | Average  | 1.5497 |  | 1.5655 |  | 1.5038 | 

| | (f) | Use of estimates
        The preparation of the consolidated financial statements in accordance
          with Canadian generally accepted accounting principles 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 managements best estimates as
          additional information becomes available in the future.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | (g) | Loss per share
        During the year ended March 31, 2002, the Company adopted the Treasury
          Stock Method to calculate loss per common share. Under this method,
          the basic loss per share is calculated based on the weighted average
          aggregate number of common shares outstanding during each period. The
          diluted earnings per share assumes that the outstanding stock options
          and share purchase warrants had been exercised at the beginning of the
          period.                                                    

Page 6

---

|Nettron.Com,
      Inc. Notes to the Consolidated Financial Statements
      
      March 31, 2003(Expressed in Canadian Dollars)
|---------------------------------------------------------------------------------------------------------------------------------

|1. | Significant Accounting Policies(continued)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   | (h)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   | (i)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|2. | Nature of Business and Ability to Continue
        as a Going Concern
      The Company was incorporated under the Alberta Business
        Corporations Act on January 19, 1996 and was in the business of marketing
        its interactive dating service Cupids Web. With the
        sale of Bikestar and Arizona Outback, the Companys principal business
        is located in Canada.
      These consolidated financial statements have been prepared
        in accordance with Canadian generally accepted accounting principles applicable
        to a going concern which contemplates the realization of assets and the
        satisfaction of liabilities and commitments in the normal course of business.
        During the year ended March 31, 2001, the Company disposed of two of its
        subsidiaries (Note 3) to focus its effort on the development of the interactive
        dating service. Upon the sale of Bikestar and Arizona Outback in fiscal
        2001, the Company has returned to the development stage as the remaining
        business has not yet generated revenue and planned principal operations
        have not yet commenced. As at March 31, 2003, due to difficulties encountered
        in raising financing, the Company has substantially reduced its activity
        in the interactive dating service business, has accumulated losses totalling
        $3,168,029 and had a working capital deficiency of $179,689. The continuation
        of the Company is dependent upon the financial support of shareholders
        as well as obtaining long-term financing. The Company has been exploring
        business opportunities that might allow the Company to restart commercial
        operations. Management is currently seeking new sources of equity financing.
        While the Company is expending its best efforts to achieve the above plans,
        there is no assurance that any such activity will generate funds that
        will be available for operations.
      These conditions raise substantial doubt about the Companys
        ability to continue as a going concern. These financial statements do
        not include any adjustments that might arise from this uncertainty.

Page 7

---

|Nettron.Com,
      Inc. Notes to the Consolidated Financial Statements
      
      March 31, 2003(Expressed in Canadian Dollars)
|---------------------------------------------------------------------------------------------------------------------------------

|3. | Dispositions
      On January 1, 2001, the Company made the decision to
        dispose of all of the issued and outstanding capital stock of Arizona
        Outback and Bikestar, the sale of which was effective January 1, 2001.
        Total proceeds on the sale were approximately $132,380, with $23,024 in
        cash received on closing and the balance of $109,356 representing the
        assumption of certain debt and payables by the purchaser. As a condition
        of the disposal, the Company was required to cancel the 280,000 common
        shares that were held in escrow under the Second Escrow Agreement (Note
        5(b)). These escrow shares were cancelled on April 10, 2001.
      The financial results of Arizona Outback and Bikestar
        have been segregated and presented as a discontinued operations on the
        statements of operations and deficit and cash flows. The statement of
        operations for the year ended March 31, 2001, includes a loss on the disposal
        of the net assets associated with Arizona Outback and Bikestar and a write-off
        of the remaining net book value of goodwill recorded on the acquisition
        of these entities in June, 1998. The results of discontinued operations
        are summarized as follows:
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|   |                                                                                                             |   | 2003 |  |   | 2002 |  |   | 2001     |  
|-- | ----------------------------------------------------------------------------------------------------------- | - | ---- |  | - | ---- |  | - | -------- | -
|   |                                                                                                             |   |      |  |   |      |  |   |          |  
|   | Revenue                                                                                                     | $ | -    |  | $ | -    |  | $ | 419,486  |  
|   | Loss from operations                                                                                        |   | -    |  |   | -    |  |   | (141,947 | )
|   | Loss on sale of net assets                                                                                  |   | -    |  |   | -    |  |   | (18,691  | )
|   | Write-off of goodwill                                                                                       |   | -    |  |   | -    |  |   | (107,967 | )
|   | Loss on disposal of discontinued operations                                                                 |   | -    |  |   | -    |  |   | (126,658 | )
|   | Loss from discontinued operations                                                                           | $ | -    |  | $ | -    |  | $ | (268,605 | )
|   |                                                                                                             |   |      |  |   |      |  |   |          |  
|   | Loss per share from discontinued operations is summarized                                                   |   |      |  |   |      |  |   |          |  
|   | as follows:                                                                                                 |   |      |  |   |      |  |   |          |  
|   | from operations                                                                                             | $ | -    |  | $ | -    |  | $ | (0.02    | )
|   | on disposal of net
      property                                                                           |   | -    |  |   | -    |  |   | (0.02    | )
|   |                                                                                                             | $ | -    |  | $ | -    |  | $ | (0.04    | )
|   |                                                                                                            
|   | The consolidated balance sheets do not include any net assets
      related to the discontinued operations.
|   |                                                                                                            
|4. | Property and equipment                                                                                     

| |             |   |        |  |   | 2003         |  |   |              |  |   | 2002         | 
| | ----------- | - | ------ |  | - | ------------ |  | - | ------------ |  | - | ------------ | 
| |             |   |        |  |   | Accumulated  |  |   | Net Carrying |  |   | Net Carrying | 
| |             |   | Cost   |  |   | Amortization |  |   | Amount       |  |   | Amount       | 
| |             |   |        |  |   |              |  |   |              |  |   |              | 
| | Controllers | $ | 37,197 |  | $ | 26,792       |  | $ | 10,405       |  | $ | 14,905       | 

Page 8

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|Nettron.Com,
      Inc. Notes to the Consolidated Financial Statements
      
      March 31, 2003(Expressed in Canadian Dollars)
|---------------------------------------------------------------------------------------------------------------------------------

|4. | Property and Equipment(continued)
        During the year ended March 31, 2002, equipment with a net book value
          of $9,544 (which approximated market value) was sold to an officer in
          exchange for services and the reimbursement of expenses paid for on
          behalf of the Company.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                               
|5. | Share Capital
        Authorized:
        Unlimited number of common shares without par value 
                          
          Unlimited number of preferred shares without par value
        Issued:
                          
          Common shares                                                 

| |                                                      | Number of |   |           | 
| | ---------------------------------------------------- | --------- | - | --------- | 
| |                                                      | Shares    |   | Amount    | 
| |                                                      |           |   |           | 
| | Balance, April 1, 2000                               | 5,957,740 |   | 2,395,019 | 
| | Issued during the year                               |           |   |           | 
| | For cash on exercise of warrants                     | 621,134   |   | 443,901   | 
| | For conversion of convertible debentures (Note 5(a)) | 124,000   |   | 155,000   | 
| | For cash on exercise of stock options                | 12,500    |   | 5,500     | 
| | Balance, March 31, 2001                              | 6,715,374 |   | 2,999,420 | 
| | Escrow shares cancelled during the year (Note 5(b))  | (280,000  | ) | -         | 
| | Balance, March 31, 2002                              | 6,435,374 |   | 2,999,420 | 
| | Issued during the year                               | -         |   | -         | 
| | Balance, March 31, 2003                              | 6,435,374 |   | 2,999,420 | 

| | (a) | The debentures were convertible at the option of
        the holder into common shares of the Company at any time up to June 30,
        2000 at a conversion price of $1.25 per common share. On June 30, 2000,
        the remaining $155,000 debentures were converted into 124,000 common shares.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Page 9

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|Nettron.Com,
      Inc. Notes to the Consolidated Financial Statements
      
      March 31, 2003(Expressed in Canadian Dollars)
|---------------------------------------------------------------------------------------------------------------------------------

|5. | Share Capital(continued)
|-- | ------------------------
|   |                         
|   | (b)                     

| |  |                         | Number
      of Escrow Shares |  
| |  | ----------------------- | ----------------------------- | -
| |  |                         | First                         |  
| |  |                         | Agreement                     |  
| |  |                         |                               |  
| |  | March 31, 2000          | 355,556                       |  
| |  | Released in year        | (177,778                      | )
| |  | March 31, 2001          | 177,778                       |  
| |  | Released in year        | (177,778                      | )
| |  | Cancelled in year       | -                             |  
| |  | March 31, 2002          | -                             |  
| |  | Released in year        | -                             |  
| |  | Balance, March 31, 2003 | -                             |  

| |     | (i)                                                                                                                                                                                                                                                                                                                                                                                          | Pursuant to the first escrow agreement,
        the release of these shares occurred in each of the three years ended
        March 31, 2002 with the consent of the Executive Director of the Alberta
        Securities Commission.                                                                                                                                                                                                                                                                                                                                                                                                                    
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| |     | (ii)                                                                                                                                                                                                                                                                                                                                                                                         | Pursuant to the second escrow agreement,
        280,000 of the common shares were to be released on a basis of one share
        per $1.25 in cash flow generated. As part of the agreement to dispose
        of Arizona Outback and Bikestar (Note 3), 280,000 performance based escrow
        shares were cancelled in April, 2001. The remaining 12,032 common shares
        were released from escrow subsequent in August, 2002.
      The escrow shares were recorded as cancelled in the
        2002 financial statements. On issuance they were given a nominal cost
        base. Hence, the nominal amount was removed from share capital.
| |     |                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | (c) | No common shares were issued
        during the year ended March 31, 2003. However, pursuant to a private placement
        of common shares at US $0.05 per share announced August 16, 2002. The
        Company has received US $11,200 and has reserved for issuance 224,000
        common shares to fulfill those subscriptions. Regulatory approval has
        not yet been received.

Page 10

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|Nettron.Com,
      Inc. Notes to the Consolidated Financial Statements
      
      March 31, 2003(Expressed in Canadian Dollars)
|---------------------------------------------------------------------------------------------------------------------------------

|5. | Share Capital(continued)
|-- | ------------------------
|   |                         
|   | (d)                     

| |  |                                                                              |           |   |   | Weighted             | 
| |  | ---------------------------------------------------------------------------- | --------- | - | - | -------------------- | 
| |  |                                                                              | Number of |   |   | Average              | 
| |  |                                                                              | Options   |   |   | Exercise
      Price | 
| |  | Number of options outstanding March 31, 2000                                 | 525,000   |   | $ | 0.44                 | 
| |  | Granted                                                                      | 100,000   |   |   | 2.00                 | 
| |  | Exercised                                                                    | (12,500   | ) |   | 0.44                 | 
| |  | Number of options outstanding March 31, 2001                                 | 612,500   |   |   | 0.70                 | 
| |  | Granted                                                                      | -         |   |   | -                    | 
| |  | Exercised                                                                    | -         |   |   | -                    | 
| |  | Number of options outstanding March 31, 2002                                 | 612,500   |   |   | 0.70                 | 
| |  | Granted                                                                      | -         |   |   | -                    | 
| |  | Exercised                                                                    | -         |   |   | -                    | 
| |  | Number of options outstanding March 31, 2003                                 | 612,500   |   | $ | 0.70                 | 
| |  |                                                                             
| |  | Stock options outstanding at March 31, 2003 are summarized
      as follows:

|Expiry
      Date  |  | Exercise
      Price |  | Stock
      Options
|------------------ |  | -------------------- |  | -------------------
|September 10, 2004 |  | $0.44                |  | 512,500            
|March 27, 2005     |  | $2.00                |  | 100,000            
|                   |  |                      |  | 612,500            

| |  | As at March 31, 2003, $12,500 (2002 - $612,500. 2001
        - $604,167) of the outstanding stock options were fully vested and exercisable.
| |  | --------------------------------------------------------------------------------------------------------------------------------------------

Page 11

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|Nettron.Com,
      Inc. Notes to the Consolidated Financial Statements
      
      March 31, 2003(Expressed in Canadian Dollars)
|---------------------------------------------------------------------------------------------------------------------------------

|5. | Share Capital(continued)
|-- | ------------------------
|   |                         
|   | (e)                     

|       |                                                                                                                                                           |                            |            |   |   | Weighted             |  
|------ | --------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------- | ---------- | - | - | -------------------- | -
|       |                                                                                                                                                           |                            | Number of  |   |   | Average              |  
|       |                                                                                                                                                           |                            | Warrants   |   |   | Exercise
      Price |  
|       |                                                                                                                                                           |                            |            |   |   |                      |  
|       |                                                                                                                                                           | Outstanding March 31, 2000 | 2,062,778  |   | $ | 0.59                 |  
|       |                                                                                                                                                           | Exercised                  | (621,134   | ) |   | 0.72                 |  
|       |                                                                                                                                                           | Expired                    | (80,000    | ) |   | 1.00                 |  
|       |                                                                                                                                                           | Outstanding March 31, 2001 | 1,361,644  |   |   | 0.50                 |  
|       |                                                                                                                                                           | Expired                    | (1,361,644 | ) |   | (0.50                | )
|       |                                                                                                                                                           | Outstanding March 31, 2002 | -          |   |   | -                    |  
|       |                                                                                                                                                           | Granted                    | -          |   |   | -                    |  
|       |                                                                                                                                                           | Outstanding March 31, 2003 | -          |   | $ | -                    |  
|       |                                                                                                                                                           |                           
|**6.** | Income Taxes
      The tax effects of the temporary differences that give rise to the Companys
        future tax assets and liabilities are as follows:

| |                                                                                                                                                                                                                                                                                                                                                  |   | 2003       |   |   | 2002       |  
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | - | ---------- | - | - | ---------- | -
| |                                                                                                                                                                                                                                                                                                                                                  |   |            |   |   |            |  
| | Net operating losses                                                                                                                                                                                                                                                                                                                             | $ | 886,066    |   | $ | 967,615    |  
| | Net capital losses                                                                                                                                                                                                                                                                                                                               |   | 270,063    |   |   | 284,618    |  
| | Valuation allowance                                                                                                                                                                                                                                                                                                                              |   | (1,156,129 | ) |   | (1,252,233 | )
| | Future tax assets (liability)                                                                                                                                                                                                                                                                                                                    | $ | -          |   | $ | -          |  
| |                                                                                                                                                                                                                                                                                                                                                 
| | The Company evaluates its valuation allowance
        requirements based on projected future operations. When circumstances
        change and this causes a change in managements judgement about the
        recoverability of future tax assets, the impact of the change in the valuation
        allowance is reflected in current income.

Page 12

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|Nettron.Com,
      Inc. Notes to the Consolidated Financial Statements
      
      March 31, 2003(Expressed in Canadian Dollars)
|---------------------------------------------------------------------------------------------------------------------------------

|6. | Income Taxes(continued)
        The Company has non-capital losses available for income tax purposes
          in Canada and the United States totalling $2,355,307 (2002 - $2,442,240,
          2001 - $2,305,355) which expire in various amounts from 2005 to 2022.
          This amount can be used to reduce taxable income of future years. Additionally,
          the Company has capital losses of $1,435,740 which are available to
          reduce capital gains in future periods.                                                                                                                                                                                            
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|7. | Financial Instruments
        The Companys financial instruments consist of cash, receivables
          and accounts payable and accrued liabilities. Unless otherwise noted,
          it is managements opinion that the Company is not exposed to significant
          interest or credit risks arising from these financial instruments. As
          at March 31, 2003 and 2002, the fair value of cash, receivables and
          accounts payable and accrued liabilities approximate their carrying
          value due to the immediate short-term maturity of these instruments.
        Financial assets and liabilities are denominated in the following
          currencies:

| |                 | 2002 |           | 2002 |  
| | --------------- | ---- | --------- | ---- | -
| |                 |      | Financial |      |  
| |                 |      | Assets    |      |  
| |                 |      |           |      |  
| | U.S. dollar     | $    | 4,830     |      | $
| | Canadian dollar |      | 3,631     |      |  
| |                 | $    | 8,461     |      | $

|8. | Segmented Information
        With the disposal of Arizona Outback and Bikestar on January 1, 2001,
          the Company and its subsidiary now operate in one industry segment,
          the development and marketing of the internet marketing service Cupids
          Web. The companys principal business is now located in British
          Columbia, Canada.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                            
|9. | Related Party Transactions
        Related party transactions not disclosed elsewhere in these consolidated
          financial statements are as follows:                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                            
|   | (a)                                                                                                                                                                                                                                                                                                                                                                        

Page 13

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|Nettron.Com,
      Inc. Notes to the Consolidated Financial Statements
      
      March 31, 2003(Expressed in Canadian Dollars)
|---------------------------------------------------------------------------------------------------------------------------------

|9. | Related Party Transactions(continued)
|-- | -------------------------------------
|   |                                      
|   | (b)                                  

| |  |                                                                                                                                                        |   | 2003  |  |   | 2002   |  |   | 2001    | 
| |  | ------------------------------------------------------------------------------------------------------------------------------------------------------ | - | ----- |  | - | ------ |  | - | ------- | 
| |  |                                                                                                                                                        |   |       |  |   |        |  |   |         | 
| |  | Consulting                                                                                                                                             | $ | -     |  | $ | 5,000  |  | $ | 9,023   | 
| |  | Management fees                                                                                                                                        |   | 4,500 |  |   | 36,000 |  |   | 132,319 | 
| |  | Rent                                                                                                                                                   |   | 4,500 |  |   | 3,179  |  |   | 4,500   | 
| |  | Office and miscellaneous                                                                                                                               |   | 394   |  |   | 2,564  |  |   | -       | 
| |  | Expenses pertaining to discontinued operations                                                                                                         |   | -     |  |   | -      |  |   | -       | 
| |  | Management fees                                                                                                                                        |   | -     |  |   | -      |  |   | 59,286  | 
| |  | Other                                                                                                                                                  |   | -     |  |   | -      |  |   | 51,635  | 
| |  |                                                                                                                                                       
| |  | These transactions have been recorded
        at the exchange amount being the consideration established and agreed
        to by the related parties.

|10. | Contingent Liability
        The Company is subject to several claims and legal proceedings covering
          a variety of matters that arose in the ordinary course of business activities.
          Each of these matters is subject to various uncertainties and it is
          possible that some of these matters may be resolved unfavourably to
          the Company. The amount by which the settlement, if any, differs from
          the accrual will be recorded in the period of settlement.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|11. | United States Accounting Principles
        The consolidated financial statements have been prepared in accordance
          with Canadian generally accepted accounting principles (Canadian
          GAAP) which, in the case of the Company, conform in all material
          respects with those of the United States (US GAAP) and with
          the requirements of the Securities and Exchange Commission (SEC),
          except as follows:                                                
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|    | (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          

Page 14

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|Nettron.Com,
      Inc. Notes to the Consolidated Financial Statements
      
      March 31, 2003(Expressed in Canadian Dollars)
|---------------------------------------------------------------------------------------------------------------------------------

|11. | United States Accounting Principles(continued)
|--- | ----------------------------------------------
|    |                                               
|    | (b)                                           

| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 2003 |  |   | 2002 |  |   | 2001      | 
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | - | ---- |  | - | ---- |  | - | --------- | 
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |      |  |   |      |  |   |           | 
| |     | Risk-free interest rate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $ | -    |  | $ | -    |  | $ | 4.94%     | 
| |     | Dividend yield                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | -    |  |   | -    |  |   | - %       | 
| |     | Volatility factor of the expected market price of the                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |      |  |   | -    |  |   |           | 
| |     | companys common shares                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | -    |  |   | -    |  |   | 96  120% | 
| |     | Weighted-average expected life of the options (months)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | -    |  |   | -    |  |   | 36        | 
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | (c) | In June, 2001, the Financial Accounting
        Standards Board finalized FASB Statements No. 141, Business Combinations(SFAS 141), and No. 142, Goodwill and Other Intangible
        Assets(SFAS 142), SFAS 141 requires the use of the purchase
        method of accounting and prohibits the use of the pooling-of-interest
        method of accounting for business combinations initiated after June 30,
        2001, SFAS 141 also requires that the Company recognize acquired intangible
        assets apart from goodwill if the acquired intangible assets meet certain
        criteria. SFAS 141 applies to all business combinations initiated after
        June 30, 2001 and for purchase business combinations completed on or before
        July 1, 2001. It also requires, upon adoption of SFAS 142, that the Company
        reclassify the carrying amounts of intangible assets and goodwill based
        on the criteria in SFAS 141.

Page 15

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|Nettron.Com,
      Inc. Notes to the Consolidated Financial Statements
      
      March 31, 2003(Expressed in Canadian Dollars)
|---------------------------------------------------------------------------------------------------------------------------------

|**11.** | United States Accounting Principles(continued)
|------- | ----------------------------------------------
|        |                                               
|        |                                               

Page 16

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|Nettron.Com,
      Inc. Notes to the Consolidated Financial Statements
      
      March 31, 2003(Expressed in Canadian Dollars)
|---------------------------------------------------------------------------------------------------------------------------------

|**12.** | United States Accounting Principles(continued)
        The following table reconciles the net loss as reported in the consolidated
          statements of operations with that which would have been reported had
          the financial statements been prepared in accordance with US GAAP and
          the requirements of the SEC.
|------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |                                                    |   | 2003      |   |   | 2002      |   |   | 2001       |  
| | -------------------------------------------------- | - | --------- | - | - | --------- | - | - | ---------- | -
| |                                                    |   |           |   |   |           |   |   |            |  
| | Income (loss) from continued operations in         |   |           |   |   |           |   |   |            |  
| | accordance with Canadian GAAP                      | $ | 82,433    |   | $ | (136,885  | ) | $ | (1,308,481 | )
| | Stock option compensation (b)                      |   | -         |   |   | -         |   |   | (174,429   | )
| | Loss from continued operations in accordance       |   |           |   |   |           |   |   |            |  
| | with US GAAP                                       |   | 82,433    |   |   | (136,885  | ) |   | (1,482,910 | )
| |                                                    |   |           |   |   |           |   |   |            |  
| | Loss from discontinued operations in accordance    |   |           |   |   |           |   |   |            |  
| | with Canadian GAAP                                 |   | -         |   |   | -         |   |   | (268,605   | )
| | Amortization of goodwill (a)                       |   | -         |   |   | -         |   |   | (57,618    | )
| | Write-off of goodwill (a)                          |   | -         |   |   | -         |   |   | (192,061   | )
| | Loss from discontinued operations in accordance    |   |           |   |   |           |   |   |            |  
| | with US GAAP                                       |   | -         |   |   | -         |   |   | (518,284   | )
| | Income (loss) and comprehensive loss in accordance |   |           |   |   |           |   |   |            |  
| | with US GAAP                                       | $ | 82,433    |   | $ | (136,885  | ) | $ | (2,001,194 | )
| | Income (loss) per share in accordance with US GAAP |   |           |   |   |           |   |   |            |  
| | From continued operations                          | $ | (0.01     | ) | $ | (0.02     | ) | $ | (0.25      | )
| | Discontinued operations                            |   | -         |   |   | -         |   |   | (0.09      | )
| | After discontinued operations                      | $ | (0.01     | ) | $ | (0.02     | ) | $ | (0.34      | )
| |                                                    |   |           |   |   |           |   |   |            |  
| | Weighted average common shares in accordance       |   |           |   |   |           |   |   |            |  
| | with
      US GAAP (a)                             |   | 6,435,374 |   |   | 6,447,041 |   |   | 5,904,074  |  

Page 17

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SIGNATURES

The registrant hereby certifies that it meets all of the requirements
  for filing on Form 20-F and that it has duly caused and authorized the undersigned
  to sign this Amendment No. 1 to Form 20-F annual report on its behalf.

|                     | NETTRON.COM, INC.
|-------------------- | -----------------
|                     |                  
|Date: March 25, 2004 | By:              
|                     | Name:            
|                     | Title:           
|                     |                  

2

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