UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549
                                   FORM 10-KSB
                                   (Mark One)

       (X) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                       EXCHANGE ACT OF 1934(FEE REQUIRED)

                   For the fiscal year ended December 31, 2003

                                       OR

     ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                      EXCHANGE ACT OF 1934(NO FEE REQUIRED)

                    For the transition period from N/A to N/A
                         Commission file number 0-15078

                       NOVA NATURAL RESOURCES CORPORATION
        (Exact name of small business issuer as specified in its charter)


                Colorado                         84-1227328
        (State or other jurisdiction          (I.R.S. Employer
             of incorporation)               Identification No.)


                                 2951 Simms St.
                               Hollywood, Fl 33020
                    (Address of principal executive offices)


                                 (954) 925-9502
                           (Issuer's telephone number)

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

                                     -NONE-

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

                          Common Stock, $.10 Par Value
                          ----------------------------
                                (Title of Class)


<PAGE>

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

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

Issuer's revenues for its most recent fiscal year totaled: None Documents
Incorporated by Reference: None Transitional Small Business Disclosure Format
Yes___ No X

As of December 31 2003, the Registrant had outstanding no shares of
Convertible Preferred Stock, $1.00 par value, and 371,764 shares of Common
Stock, $.10 par value, its only classes of voting stock.

PART I

Forward-looking Information

This Form 10-KSB contains certain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. For this purpose any
statements contained in this Form 10-KSB that are not statements of historical
fact may be deemed to be forward-looking statements. Without limiting the
foregoing, words such as "may", "will", "expect", "believe", "anticipate",
"estimate", or "continue" or comparable terminology are intended to identify
forward-looking statements. These statements by their nature involve substantial
risks and uncertainties and actual results may differ materially depending on a
variety of factors, many of which are not within the Company's control. See also
"Management's Discussion and Analysis of Plan of Operation."


                                                                               2
<PAGE>

ITEM 1.  DESCRIPTION OF BUSINESS

GENERAL DEVELOPMENT OF BUSINESS

Nova Natural Resources Corporation (the "Registrant", "Company" or "Nova") was
incorporated under Colorado Law on April 1, 1993 and is the surviving company in
a merger, effective February 1, 1995, of the Company and Nova Natural Resources
Corporation, a Delaware corporation. The merger was effected to change the
Company's domicile from Delaware to Colorado and caused no change in the
Company's capitalization. The Delaware Corporation was the successor to Nova
Petroleum Corporation and Power Resources Corporation, which merged in 1986.
Prior to that merger, Nova Petroleum Corporation and Power Resources Corporation
operated since 1979 and 1972, respectively.

SIGNIFICANT CHANGE IN THE COMPANY'S BUSINESS

On February 27, 2001, the Company closed a transaction pursuant to the terms of
an Asset Purchase Agreement dated February 9, 2001 (the "Agreement") with TORITA
DONGHAO LLC ("Torita Delaware"), a Delaware Corporation, by which Torita
Delaware acquired control of the Company.

Torita Delaware manufactures, markets, and sells electronic equipment, including
computer hardware, computer monitors, television sets, internet access devices
for use with TV sets, digital video devices (DVD's) and related equipment.
Torita Delaware's products are marketed in Southeast Asia. Its production
facilities occupy 128,000 square feet in Zhuhai City in the People's Republic of
China ("PRC") and include six manufacturing lines with an annual production
capacity of approximately 1 million PC's, 1 million DVD devices and 200,000 TV
sets. Torita Delaware owns 50% of the former cosmetics arm of Torita Group,
though this business line has not played a significant role in the Company's
operations. The Company wrote off its equity investment of $15,107 in the
cosmetics company in the fourth quarter of the fiscal year, since it is
uncertain whether this investment will be recoverable.

Torita Delaware was formed by the spin-off of the electronics and the cosmetics
divisions of the Torita Group of the PRC. Torita Group ("Torita"), a large,
diversified company with over ten years of operating history in China, was
composed of several divisions with diverse business interests. During calendar
year 2001, Torita went into receivership due to its large portfolio of
non-performing real estate assets. These assets are in the process of
disposition, a process expected to take several years to accomplish. Although
Torita Delaware and Torita are completely separate companies, this event caused
an indirect effect on the Company's ability to do business.

Historically, the Company's electronics manufacturing operations utilized
Torita's credit facilities as its major source of working capital. When the
Company became independent of Torita, it no longer had access to that capital,
but the relationship was retained with Torita's lenders, including the
maintenance of a $7 million line of credit with a local bank. . When Torita
subsequently went into receivership, even though the Company was


                                                                               3
<PAGE>

no longer affiliated with Torita, this line of credit was withdrawn. In
addition, Torita's bankruptcy filing caused many of the Company's existing
suppliers to cut off their credit terms with the Company, due to the past close
association of the two companies. These events made it much more difficult for
the Company to obtain credit in China.

On March 16, 2003, pursuant to unanimous approval of the board of directors of
Nova, the Company authorized its president to secure a convertible note from
Henan Zhenyuen (Group) Co., LTD, and to appoint three new Directors. The company
appointed Ms. Li Wang, Mr. Yanbo Yin both Chinese Nationals and reappointed Mr.
Chris Tse. Mr. Tse was also appointed the President and CEO of the company upon
the resignation of its former President Mr. Edward Chan. Mr. Chan also resigned
as a Director of the company. Additionally, Mr. Han Zhende of the Torita group
resigned as a Director. The note from Zhenyuen (Group) was never secured. The
company secured funding from a company called Good Creative Limited a BVI. This
information was communicated in an 8K filing and press release by the current
management.

On June 30, 2003 pursuant to majority shareholder consent and affirmed by
199,873,886 votes constituting 71.5% of the 279,551,551 shares issued and
outstanding as of June 28th 2003, the majority shareholders voted and approved
the appointment of Mr. Chris Tse as the Company President and Chief Executive
officer and the appointment to the Board of Directors. Mr. Edward Chan was
terminated as the President and Chief Executive Officer and removed from the
board of directors. This action was in response to the failure of Mr. Chan to
place into writing his verbal resignation as the President and from the Board of
Directors. This information was communicated in an 8K filing and press release
by the current management.

On 13 August 2003 the shareholders of Nova Natural Resources Corp., by majority
consent authorized the Board of Directors to institute a 1 for 3000 reverse
stock split with no fractional shares to be issued. Nova, a Colorado Corporation
required two thirds majority for such action. The majority consent was approved
by two hundred two million one hundred sixth four thousand (202,164,000) votes
and constituted an approval in excess of the two thirds required. The board
approved the reverse and set the effective date for August 22, 2003. Further,
the shareholders authorized the Board of Directors to increase the common stock
authorized and issued to 50,000,000 shares following the implementation of the
reverse. The majority shareholder consent also gave the Board the authorization
to negotiate the terms and conditions to sale the assets back to Torita.

 CHANGE IN CONTROL

Effective at Closing of the Torita Delaware transaction, all of Nova's officers
and directors, except Brian B. Spillane, resigned, as contemplated by the
Agreement. Edward T. S. Chan, CEO of Torita Delaware, thereupon was named
President, Treasurer and a Director of the Company. Mr. Spillane resigned as
President, but remains a Director of the Company, and was appointed its
Secretary. Mr. Spillane continued his affiliation with the Company and continued


                                                                               4
<PAGE>

to maintain the Company's corporate office in Denver, Colorado at the request of
Torita Delaware. This request was not a requirement for approval of the
transaction by the Company's former Board of Directors. In September 2001, Han
Zhende and Chris Tse, both based in China, were appointed Directors of the
Company. Mr. Han is the Company's Chief Operating Officer, and is in charge of
the Company's electronics manufacturing operations in Zhuhai City, the People's
Republic of China. Mr. Tse resigned as Vice President and a Director of the
Company in November.

Upon effectuation of the Agreement, Torita Electronic (Hong Kong) Ltd. held
138,612,287 shares of the Registrant's $0.10 par value common stock, 59.5% of
the total common shares issued and outstanding, and therefore became the new
controlling shareholder of the Company. Affiliates of Torita Delaware controlled
an additional 32% of the then-issued and outstanding shares. The consideration
used to obtain such control was the acquisition by the Company of 100% of the
business and operating assets of Torita Delaware.

On 11 November 2003 Nova entered into an agreement to divest of the core
business, the electronic assets the company had idled at 2002 year end. The
electronic business unit declined shortly after acquisition due to a slow down
in demand for existing products and a lack of immediate working capital required
for new product introduction. Revenue decreased significantly from 2001 of
$4.8MM to 2002 of $.4MM whereby the company was unable to continue operations.
Previous management was unsuccessful in efforts to raise the necessary working
capital in the time frame in which the business unit had opportunities for its
product. The decrease in demand, consumption of saleable inventory and lack of
working capital resulted in discontinuing the operations at year end 2002. The
business had remained idle while the new management team and board of directors
accessed the market conditions for the company products and production
capabilities. The current board of directors had determined that restarting the
operations created significant risk for its shareholders and determined that
raising funds with equity would be difficult if not impossible. Therefore, the
Directors approached the original owners and reached an agreement for the return
of assets in turn for the return of the Torita Electronic (Hong Kong) Ltd.,
common stock in the amount of 138,612,287 shares. This was the control block
originally issued for the assets but did not include stock issued for services
in connection with facilitation of the deal and payment for services. The
divesture agreement was entered into with Han Zhende, President of Torita
Electronic (Hong Kong) Company Ltd., and provided for the return of the assets
acquired from the original agreement, dated Feb 09 2001 between Torita Donghao,
LLC and Nova Natural Resource Corporation. The agreement provided for the return
of assets, assumption of all liabilities associated with the Chinese operation
in turn for the return to Nova the 138,612,287 shares of common stock originally
issued to Torita Electronic (Hong Kong) Ltd.


                                                                               5
<PAGE>

   COMMON STOCK

As of December 31, 2001 11,653,000 option shares were outstanding under the
Company's employee stock option plan. On June 10, 2002 Mr. Chan exercised
4,661,200 shares at .005 per share for a total of $23,306. Mr. Spillane
exercised 2,330,600 shares at .005 per share for a total or $11,653. As a result
of this issuance the remaining option shares outstanding under the Company's
employee stock option plan at December 31, 2003 is 1,553.

On May 31, 2002 the company issued the remaining balance of 1,727,027 from an
S-8 filing that was effective September 14, 2001. The filing was for 2,500,000
shares of which 636,364 shares were issued to Mr. Chan in lieu of salary and
136,609 shares were issued for legal services in October 2001. The balance of
1,727,027 was issued on May 31, 2002 as follows: Mr. Chan, 227,000 for a value
of $908, Mr Spillane, 1,200,000 for a value of $4,800, and Mr. Stubbs 300,027
for a value of $1,200.

On 13 August 2003 the shareholders of Nova Natural Resources Corp., by majority
consent authorized the Board of Directors to institute a 1 for 3000 reverse
stock split with no fractional shares to be issued. Nova, a Colorado Corporation
required two thirds majority for such action. The majority consent was approved
by two hundred two million one hundred sixth four thousand (202,164,000) votes
and constituted an approval in excess of the two thirds required. The board
approved the reverse and set the effective date for August 22, 2003. Further,
the shareholders authorized the Board of Directors to increase the common stock
authorized and issued to 50,000,000 shares following the implementation of the
reverse.

Currently there are 121,764 common shares outstanding. There are no shares of
the Company's convertible preferred stock outstanding. Holders of Common Stock
are entitled to cast one vote for each share held of record on all matters
submitted to a vote of shareholders and are not entitled to cumulate votes for
the election of directors. Holders of Common Stock do not have preemptive rights
to subscribe for additional shares of Common Stock issued by the Company.

Holders of Common Stock are entitled to receive dividends as may be declared by
the Company's Board of Directors out of funds legally available for that
purpose, subject to the rights of the holders of the Company's Preferred Stock.
But currently No Preferred Stock has been issued. Holders of the Common Stock
and Preferred Stock have equal rights to all dividends declared and paid by the
Company. In the event of liquidation, holders of Common Stock are entitled to
share, pro rata, in any distribution of the Company's assets remaining after
payment of liabilities, subject to the preferences and rights of the holders of
Preferred Stock. The Company has not paid and has no current plan to pay
dividends.


                                                                               6
<PAGE>

ENVIRONMENTAL REGULATIONS

The Company is not currently subject to any pending administrative or judicial
enforcement proceedings arising under environmental laws or regulations.
Environmental laws and regulations may be adopted in the future which may have
an impact upon the Company's operations.

EMPLOYEES

At December 31, 2003, Nova had only one employee, its President & CEO,
Mr. Chris Tse


ITEM 2.  DESCRIPTION OF PROPERTIES

CAPITAL ASSETS

The Company's capital assets located in the PRC, and consist of factory
machinery, electronic manufacturing and testing equipment, installation and
assembly equipment, packing equipment and microcomputers, factory computer and
audio equipment, a central computer system, and various small office machines
and office equipment were transfer back in exchange of the return of 138,612,287
shares of its common stock. The book value of these assets at December 31, 2002
was $2,366,126.


OFFICE LEASE AND EQUIPMENT

None


INVENTORIES

The Company had no inventories as of 12/31/2003.


ITEM 3.  LEGAL PROCEEDINGS

The Company knows of no legal proceedings contemplated or threatened against it.


                                                                               7
<PAGE>

PART II

ITEM 5.   MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

The Company's Common Stock is quoted on the OTC Bulletin Board under the symbol
"NVNJ" at 12/31/2003 and currently has had no trading activity. The number of
record holders of the Company's Common Stock as of December 31, 2003 was
approximately 500.

As of December 31, 2003 1,553 option shares were outstanding under the Company's
employee stock option plan.

On 13 August 2003 the shareholders of Nova Natural Resources Corp., by majority
consent authorized the Board of Directors to institute a 1 for 3000 reverse
stock split with no fractional shares to be issued. Nova, a Colorado Corporation
required two thirds majority for such action. The majority consent was approved
by two hundred two million one hundred sixth four thousand (202,164,000) votes
and constituted an approval in excess of the two thirds required. The board
approved the reverse and set the effective date for August 22, 2003. Further,
the shareholders authorized the Board of Directors to increase the common stock
authorized and issued to 50,000,000 shares following the implementation of the
reverse.

The Company has not paid any dividends on its Common Stock and does not expect
to do so in the foreseeable future. The Company intends to employ its cash flow
and earnings, if any, for working capital needs.


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

Forward-Looking Statements

Management's discussion of anticipated future operations contains predictions
and projections which may constitute forward looking statements. The Private
Securities Litigation Reform Act of 1995, including provisions contained in
Section 21E of the Securities Exchange Act of 1934, provides a safe harbor for
forward-looking statements. In order to comply with the terms of the safe
harbor, the Company notes that a variety of factors could cause the Company's
actual results and experience to differ materially from the anticipated results
or other expectations expressed in the Company's forward-looking statements. The
risks and uncertainties that may affect the operations, performance, development
and results of the Company's business include, but are not limited to, the
following:


                                                                               8
<PAGE>

LIQUIDITY AND CAPITAL RESOURCES

The Company had no cash at year end and at December 31, 2003 the Company had an
Accumulated Deficit of $5,879,382 compared to an Accumulated deficit at December
31, 2003 of $ 5,545479

The Company had no working capital at the end of December 31, 2003.


MATERIAL EVENTS AFTER 2003 YEAR END


On 17 Jun 2004 Nova entered into an agreement to purchase the assets of two Gas
Stations located in Anyang City, Henan Province, China from Great Frame
International Enterprise Limited, a Hong Kong Company. The stations were
equipped with LPG refilling equipment. The stations along with a recently
acquired LPG conversion technology would allow Nova to continue the conversion
of additional vehicles within the Anyang market and expand into other markets
within the region. The stations had the capacity to generate in excess of two
million dollars in combined fuel alternatives, but the primary focus was to
convert and service LPG vehicles. This was due to higher gross margins and the
positive environmental impact. Nova intended to issue 600,000 shares of common
stock at an agreed price of $2.00 per share, for a total purchase price of
$1,200,000. The majority owner and President/Director of Great Frame
International Enterprise Limited was Wang Li; Ms Li was also a director of Nova.
Upon the completion of the proposed agreement Wang Li would have become the
largest shareholder of NOVA with approximately 45% of the issued and outstanding
shares.

This acquisition was designed to prove the LPG conversion technology was a
benefit for both Nova and the Chinese market. The average cost to convert a taxi
from gas to LPG was approximately $420 and the conversion cost for a bus was
approximately 25% higher. It was estimated that the average taxi would drive
450KM per day with a monthly fuel saving of $73.00, creating a pay back for the
driver in six months. The pay back for a bus was approximately one and a half
years, but combined with the positive environmental results the local
governments were eager to convert. The company expected the primary growth
revenue generator would be the refilling of the LPG vehicles; the current gross
margin was significantly higher than that of the non converted petrol vehicles.
Given the increasing vehicles entering the Chinese market and vast number of
vehicles that could benefit from the conversion the company worked for over one
year to try and bring this deal to a successful close. The company engaged
several outside parties in both the US and China to develop a successful
structure for the transaction whereby Nova would have full rights privileges and
true ownership of the assets identified in the deal. Although representatives of
Nova visited the sites of these assets, the deal was complicated by a transfer
of the state assets to the Hong Kong Company. This transfer could not be assured
was acceptable under Chinese Law, making the deal risky on the representations


                                                                               9
<PAGE>

made by Great Frame International and since Wang Li was a director of both
companies Nova consulted with additional resources. The company evaluated
several alternatives in restructuring the deal, but in meeting with Chinese
Accountants and Legal Advisors, it was determined that the transaction could not
be structured in a manner initially negotiated. This information was
communicated in an 8K filing and press release by the current management.

On 1 July 2005 Nova rescinded the agreement entered into on June 17, 2004 to
purchase the assets of two Gas Stations located in Anyang City, Henan Province,
China. The agreement previously entered into with Great Frame International
Enterprise Limited, a Hong Kong Company, provided that Great Frame would provide
written evidence that the agreement was in compliance with Chinese Laws and
procedures and that the assets described in the agreement were not encumbered in
any manner. Failing to comply with this requirement the company cancelled the
agreement. Additionally, Mr. Chris Tse President & CEO and Chairman of the
Board, accepted the resignation of Wang Li and Yin Yanbo as directors of the
company and decided to serve as sole officer and director of the company until
such time as qualified replacements could be selected. This information was
communicated in the form of an 8K filing by the current management.

Management has decided that the company would be more valuable and the interest
of the shareholders would be better served by the sale of the company as a
"shell" or the reverse merger into a successful private business. Management is
exploring several opportunities as the present time and expects to make a
decision prior to year end. Management is currently working to bring the
financials up to date to increase the value of the company as a clean operation
current with its financial reporting would be of greater marketability. The
financials for 2004 and 2005 are expected to be completed in the next 60 days.


                                                                              10
<PAGE>

                       NOVA NATURAL RESOURCES CORPORATION

                              FINANCIAL STATEMENTS

                                       AND

                                AUDITOR'S REPORT

                                DECEMBER 31, 2003










                                                                              11
<PAGE>

                                TABLE OF CONTENTS

TABLE OF CONTENTS..................................................12

AUDITOR'S REPORT...................................................13

BALANCE SHEETS.....................................................14

STATEMENTS OF OPERATIONS AND ACCUMULATED SURPLUS...................15

STATEMENTS OF STOCKHOLDERS' EQUITY.................................16

STATEMENTS OF CASH FLOW............................................17

NOTES TO THE FINANCIAL STATEMENTS..................................18

NOTES TO THE FINANCIAL STATEMENTS..................................19

NOTES TO THE FINANCIAL STATEMENTS..................................20

NOTES TO THE FINANCIAL STATEMENTS..................................20



                                                                              12
<PAGE>


AUDITOR'S REPORT

To the Shareholders of
Nova Natural Resources Corporation

I have audited the accompanying balance sheets of Nova Natural Resources
Corporation as at December 31, 2003 and the related statements of operations,
stockholders' equity and cash flows for the years then ended. These statements
are the responsibility of the corporation's management. My responsibility is to
express an opinion on these financial statements based on my audit.

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

I was unable to attend the physical counting of inventories at the beginning and
at the end of the year nor satisfy myself concerning those inventory quantities
by alternative means. Since opening and ending inventories enter into the
determination of the results of operations and cash flows, I was unable to
determine whether adjustments to cost of sales, net income for the year,
accumulated surplus (deficit) and cash provided from operations might be
necessary.

In my opinion, except for the effect of adjustments, if any, had I been able to
examine the opening and ending inventory quantities, as described in the
preceding paragraph, the financial statements referred to above present fairly
in all material respects, the financial position of the corporation for the year
ended December 31, 2003 and the results of its operations and its cash flows for
the years then ended in accordance with generally accepted accounting principles
in the United States.


Chartered Accountant
Markham, Ontario, Canada
June 23, 2004

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

                                                                              13
<PAGE>

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

                       NOVA NATURAL RESOURCES CORPORATION

                                 BALANCE SHEETS
                             AS AT DECEMBER 31, 2003
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                  ASSETS                                              12/31/03           12/31/02
Current
Bank                                                                                  $      -          $  54,641
Accounts Receivable                                                                          -            288,919
Inventories - Note 2 and 3                                                                   -             73,584
Prepaid Expenses and Deposits                                                                -              2,963
                                                                            -------------------  -----------------
                                                                                             -            420,107
Long Term

Capital Assets - Note 2 and 4                                                                -          2,366,126
                                                                            -------------------  -----------------
                                                                                             -          2,366,126

                                                                                             -          2,786,233
                                                                            -------------------  -----------------
                               LIABILITIES
Current
Accounts Payable and Accruals                                                            6,000            704,156
                                                                            -------------------  -----------------

                           STOCKHOLDERS' EQUITY

Common stock, $1.00 par value, 50,000,000 shares authorized; 371,764                13,591,816         27,083,272
shares issued and outstanding

Additional Paid in Capital                                                          (7,718,434)       (19,455,716)

Accumulated Surplus (Deficit)                                                       (5,879,382)        (5,545,479)
                                                                            -------------------  ------------------
                                                                                         6,000          2,082,077

                                                                                      $      -         $2,786,233
                                                                            ===================  =================

Approved By: /s/Chris Tse

         Director:                 /s/ Chris Tse                 Director:
                             ---------------------------                            ---------------------------
</TABLE>


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


                                                                              14
<PAGE>

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

                       NOVA NATURAL RESOURCES CORPORATION

                STATEMENTS OF OPERATIONS AND ACCUMULATED SURPLUS
                      FOR THE YEARS ENDED DECEMBER 31, 2003

--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                                                           12/31/2003         12/31/2002


Sales Revenue                                                                    $      -         $  416,286

Less Cost of Sales                                                                      -           (338,856)
                                                                       ------------------- ------------------

Gross Margin                                                                            -             77,430

Expenses:
Administrative                                                                     83,903          2,214,701
Amortization                                                                      250,000                  -
Financial and Selling                                                                   -              2,076
                                                                       ------------------- ------------------
                                                                                  333,903          2,216,777


Income/(Loss) from Other Operations                                                     -            (72,992)

Loss from Non-Operations - Note 6                                                       -           (192,183)
                                                                       ------------------- ------------------

Net Income for the year                                                       $  (333,903)       $(2,404,522)
                                                                       =================== ==================

Basic and diluted net income (loss) per share                                  $   (0.898)        $   (0.010)
                                                                       =================== ==================

Weighted Average Common Shares Outstanding                                        371,764        237,834,275
                                                                       =================== ==================
</TABLE>


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


                                                                              15
<PAGE>

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

                        NOVA NATURAL RESOURCES CORPOATION

                       STATEMENTS OF STOCKHOLDERS' EQUITY
                      FOR THE YEARS ENDED DECEMBER 31, 2003

--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S>                <C> <C>       <C>                 <C>      <C>           <C>              <C>                       <C>

                                                                              Additional       Accumulated      Total Stockholders'
                                         Common Stock                       Paid-In Capital  Surplus (Deficit)          Equity
                                         ------------                       ---------------  -----------------          ------
                               Shares before  Shares after
                               reverse split  reverse split      Amount
                               -------------  -------------   ------------
Balances, December 31, 2002      279,551,551         93,184   $ 27,125,139  $ (19,455,716)   $     (5,545,479)    $  2,082,077

Disposal of Nova                (138,612,287)       (46,204)   (13,861,229)    11,779,149

Alternative Technology           750,000,000        250,000        250,000

Consulting Fees                  225,000,000         75,000         75,000

Fractional Shares dropped off       (648,000)          (216)             -

Net Income for the year                                                                              (333,903)
                               ----------------------------------------------------------------------------------------------------

Balances, December 31, 2003    1,115,291,264        371,764   $ 13,591,816  $  (7,676,567)   $     (5,879,382)    $    (35,867)
                               ----------------------------------------------------------------------------------------------------
</TABLE>


                                                                              16
<PAGE>

-------------------------------------------------------------------------------
                        NOVA NATURAL RESOURCES CORPOATION

                             STATEMENTS OF CASH FLOW
                      FOR THE YEARS ENDED DECEMBER 31, 2003

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


                                                          12/31/03    12/31/02
Cash Provided by (Used in):

Operating Activities
     Cash from Operations                              $ (333,903) $(2,404,522)
     Cash Provided from non cash items
              Amortization                                250,000      350,967
     Net Change in Non Cash Working Capital - Note 5     (332,690)   1,414,253
                                                       -----------  -----------
                                                         (416,593)    (639,302)

Investing Activities
     Net Purchase of Capital Assets                      (250,000)      26,878
     Net Disposal of Capital Assets                     2,366,126            0
                                                       -----------  -----------
                                                        2,116,126       26,878

Financing Activities
     Additional Paid In Capital                       (11,737,282)           0
     Redemption of Share Capital                       13,491,456            0
     Loans from Affiliated Parties                              0      654,430
                                                       -----------  -----------
                                                       (1,754,174)     654,430

Increase (Decrease) in Cash during the year               (54,641)      42,006

Cash Balance - beginning of year                           54,641       12,635
                                                       -----------  -----------

Cash Balance - end of year                             $        0  $    54,641
                                                       -----------  -----------


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


                                                                              17
<PAGE>

-------------------------------------------------------------------------------
                       NOVA NATURAL RESOURCES CORPORATION

                        NOTES TO THE FINANCIAL STATEMENTS
                      FOR THE YEARS ENDED DECEMBER 31, 2003

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

1. Nature of Business
-------------------------------------------------------------------------------

    Management has decided that the company would be more valuable and the
    interest of its shareholders would be better served by the sale,
    reassignment and abandonment of the company's assets and marketing the
    company as a "shell" to potential buyers.

    Consequently, in December 2003, the company retrieved 138,612,287 of its
    common shares in return for all the assets and liabilities related to the
    electronic factory located in the city of Zhuhai in the People's Republic of
    China. The company's board of directors, by a majority consent of the
    company's shareholders, authorized a 1 for 3,000 reverse stock split of the
    existing shares of the company. The board also authorized an increase in the
    common share capital after the reverse stock split to 50,000,000 shares

2. Summary of Significant Accounting Policies
-------------------------------------------------------------------------------

a.  Use of Estimates
    The preparation of the company's financial statements in conformity with
    generally accepted accounting principles requires management to make
    estimates and assumptions that affect the amounts reported in the financial
    statements and accompanying notes. The actual results could differ from
    those estimates.

b.  Cash Equivalents
    The company considers all highly liquid debt instruments purchased with an
    original maturity of three months or less to be cash equivalents.

c.  Earnings per Share
    Net loss per share is presented in accordance with the provisions of the
    Statement of Financial Accounting Standards (SFAS) No: 128, Earnings Per
    Share. SFAS No: 128 replaces the presentation of primary and diluted
    earnings per share (EPS), with a presentation of basic EPS and diluted EPS.
    Under SFAS No: 128, basic EPS excludes dilution for potential common shares
    and is computed by dividing the net loss by the weighted average number of
    common shares outstanding for the year. Diluted EPS reflects the potential
    dilution that could occur if securities or other contracts to issue common
    shares were exercised or converted into common stock. Basic and diluted EPS
    are the same in 2002 and 2003 as all potential common shares were
    antidilutive.



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


                                                                              18
<PAGE>

                       NOVA NATURAL RESOURCES CORPORATION

                        NOTES TO THE FINANCIAL STATEMENTS
                      FOR THE YEARS ENDED DECEMBER 31, 2003

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

d.  Inventories
    Inventories are stated at the lower of cost and market, cost being
    determined under the first-in, first-out method.

e.  Revenue Recognition
    Product sales are recognized upon shipment provided that persuasive evidence
    of an arrangement exists, no significant obligations remain, the fee is
    fixed and determinable and collectibility is considered probable. An
    allowance for sales return is recorded at the time revenue is recognized
    based on the corporation's historical experience.

f.  Stock-based Compensation
    The company accounts for stock-based compensation for employees using the
    intrinsic value method prescribed in Accounting Principles Board Opinion No:
    25, Accounting for Stock Issued to Employees, and related interpretations.
    Accordingly, compensation costs for stock options granted to employees is
    measured as the excess, if any, of the quoted price of the company's common
    stock at the measurement date (generally, the date of grant) over the amount
    an employee must pay to acquire the stock. In October 1995, the Financial
    Standards Board issued a new statement SFAS No: 123, Accounting for
    Stock-Based Compensation. SFAS No: 123 encourages, but does not require,
    companies to recognize compensation expense for grants of stock, stock
    options, and other equity instruments based on fair value. Companies that do
    not adopt the fair value accounting rules must disclose the impact of
    adopting the new method in the notes to the financial statements.
    Transactions in equity instruments with non-employees must be accounted for
    by the fair value method. The company has decided not to adopt the fair
    value accounting method prescribed by SFAS No: 123 for employees, but is
    subject to the related disclosure requirements.

g.  Foreign Currency Translation
    The comparative assets, liabilities and operations of the corporation were
    measured in the currency of the People's Republic of China ($RMB). The
    assets and liabilities have been translated to the United States ($US)
    dollars at the current rate of $RMB 8.28 to $US 1.00. The revenue, expenses,
    gains and losses of the corporation have been translated using a weighted
    average of $RMB 8.28 to $US 1.00.


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


                                                                              19
<PAGE>

                       NOVA NATURAL RESOURCES CORPORATION

                        NOTES TO THE FINANCIAL STATEMENTS
                      FOR THE YEARS ENDED DECEMBER 31, 2003

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

h.  Capital Assets
    Capital assets were stated at cost. Amortization was provided at rates
    which were designed to write off the assets over their estimated useful
    lives.

    General factory machinery                   straight line over 9 years
    Electronics equipment                       straight line over 10 years
    Computer equipment                          straight line over 12 years
    Office equipment                            straight line over 6 years
    Installation equipment                      straight line over 15 years
    Assembly equipment                          straight line over 3 years
    Packing equipment and micro computers       straight line over 5 years
    Factory Computer and Audio equipment        straight line over 7 years
    Central computer system                     straight line over 11 years
    Small office machines                       straight line over 21 years


3. Inventories
-------------------------------------------------------------------------------

                                            12/31/03          12/31/02

     Raw Materials                            $     -         $  24,739
     Work In Progress                               -               195
     Finished Goods                                 -            48,650
                                      ---------------- -----------------
                                              $     -         $  73,584
                                      ---------------- -----------------


4. Capital Assets
-------------------------------------------------------------------------------


                                   Accumulated       Net Book Value
                            Cost   Amortization   12/31/03    12/31/02
                         -------   ------------   --------   -----------
Machinery and Equipment  $     -   $          -   $      -   $ 2,364,122
Computer                       -              -          -         2,004
                         -------   ------------   --------   -----------
                         $     -   $          -   $      -   $ 2,366,126
                         -------   ------------   --------   -----------



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


                                                                              20
<PAGE>

                       NOVA NATURAL RESOURCES CORPORATION

                        NOTES TO THE FINANCIAL STATEMENTS
                      FOR THE YEARS ENDED DECEMBER 31, 2003

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

5. Net Change in Non Cash Working Capital
-------------------------------------------------------------------------------

                                         12/31/2003        12/31/2002

    Accounts Receivable                      288,919            929,487
    Inventories                               73,584            321,356
    Prepaid Expenses and Deposits              2,963             (2,963)
    Accounts Payable and Accruals           (698,156)           166,373
                                    ------------------ -----------------
                                          $ (332,690)        $1,414,253
                                    ------------------ -----------------

6. Subsequent Events
-------------------------------------------------------------------------------

a)  In June 2004, the company signed an agreement to purchase an LPG (Liquefied
    Petroleum Gas) technology for $250,000. The purchase will be paid by the
    issuance of 250,000 of the company's common stock. The technology was later
    written off by management because the vendor did not comply with the terms
    of the agreement. The company is in the process of canceling the issued
    stock related to this purchase.

b)  On June 17, 2004, the company entered into an agreement with a company
    called Great Frame International Enterprise Limited, a company with head
    office located in Hong Kong, to purchase two gas stations located in the
    city of Anyang, in the Province of Henan, in the People's Republic of China.
    The gas stations were equipped with LPG refilling equipment. The stations,
    along with the technology referred to in (a) above, would allow the company
    to continue the conversion of vehicles within the City of Anyan and its
    surrounding region from gasoline to LPG energy. Under the terms of the
    agreement, the company would pay for the $US 1,200,000 purchase by issuing
    600,000 (post reverse split shares) of its common shares to the vendor at
    $2.00 per share.  On July 1, 2005, the company rescinded the agreement
    because the vendor could not provide satisfactory evidence that the terms
    of the agreement complied with Chinese laws and procedures and that the
    assets contemplated in the transfer were unencumbered in any manner.


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

                                                                              21