UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549

                                   FORM 10KSB

[X]     ANNUAL  REPORT  PURSUANT  TO  SECTION  13  OR  15(d)  OF  THE SECURITIES
        EXCHANGE  ACT  OF  1934
        For  the  fiscal  year  ended  December  31,  2003
                                       -------------------

[ ]     TRANSITION  REPORT  PURSUANT  TO  SECTION  13  OR  15(d)  OF  THE
        SECURITIES  EXCHANGE  ACT  OF  1934
        For  the  transition  period  from  _________  to  ____________

        Commission  File  No.  033-05844-NY
                        -----------

                               GTDATA CORPORATION
                               ------------------
             (Exact name of Registrant as specified in its charter)


     NEVADA                                                87-0443026
----------------                                           ----------
(State  or  other  jurisdiction  of                    (I.R.S.  Employer
incorporation  or  organization)                    Identification  Number)

7045  WILD  WAVE  DRIVE
LAS  VEGAS,  NEVADA                              89131
-------------------                              -----
(Address  of  principal executive offices)    (Zip Code)

Registrant's  telephone  number,  including  area  code:     (702)  839-0724
                                                             ---------------

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

Securities  registered  pursuant  to  Section  12  (g)  of  the  Act:  none

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

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

Revenues  for  the  fiscal  year  ending  December  31,  2003  were  $  0.00.

The  aggregate  market value of the voting stock held by non-affiliates computed
by  reference to the last reported sale price of such stock as of May 11, 2004 $
177,525.

The number of shares of the issuer's Common Stock outstanding as of May 12, 2004
is  8,052,000.

Transitional  Small Business Disclosure Format (check one):  Yes [   ]  No [ X ]

                                        1

<PAGE>
                                TABLE  OF  CONTENTS

                                     PART I

Item  1.  Description  of  Business                             3

Item  2.  Description  of  Property                             6

Item  3.  Legal  Proceedings                                    7

Item  4.  Submission  of  Matters  to  a  Vote  of
          Security  Holders                                     7

                                    PART II.

Item  5.  Market  for  Common  Equity  and  Related
          Stockholder  Matters                                  7

Item  6.  Plan  of  Operations                                  8

Item  7.  Financial  statements                                 9

Item  8.  Changes  in  and  Disagreements  with
          Accountants  on  Accounting and  Financial
          Disclosure                                           10

Item  8A.  Controls  and  Procedures                           11

                                    PART III

Item  9.  Directors,  Executive  Officers,  Promoters
          and  Control  Persons;  Compliance  with
          Section  16  (a)  of  the  Exchange  Act             12

Item  10.  Executive  Compensation                             13

Item  11.  Security  Ownership  of  Certain
           Beneficial Owners and Management                    13

Item  12.  Certain  Relationships  and  Related  Transactions  14

Item  13.  Exhibits  and  Reports  on  Form  8-K               14

Item  14.  Principal  Accountant  Fees  and  Services          14

                                2



<PAGE>

INTRODUCTORY  NOTE

       This  Annual  Report  on  Form  10-KSB  may  be  deemed  to  contain
forward-looking  statements  within the meaning of Section 27A of the Securities
Act  of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company
intends  that  such  forward-looking  statements  be subject to the safe harbors
created  by  such  statutes.  The forward-looking statements included herein are
based  on current expectations that involve a number of risks and uncertainties.
Accordingly,  to  the  extent  that  this Annual Report contains forward-looking
statements  regarding  the  financial  condition,  operating  results,  business
prospects  or  any  other  aspect  of  the  Company,  please be advised that the
Company's  actual financial condition, operating results, and business prospects
may  differ  materially  from  that  projected  or  estimated  by the Company in
forward-looking  statements.  The  differences  may  be  caused  by a variety of
factors,  including,  but  not  limited  to,  adverse  economic  conditions,
competition,  inadequate  capital, unexpected costs, the possible acquisition of
new businesses that result in operating losses or the fluctuation and volatility
of  the Company's financial condition and stock price, loss or retirement of key
executives,  and  other  specific  risks  that  may be alluded to in this Annual
Report  on  Form  10-KSB or in other reports issued by the Company. In addition,
the  business  and  operations  of the Company are subject to substantial risks,
which  increase  the  uncertainty inherent in the forward-looking statements. In
light of the significant uncertainty inherent in the forward-looking information
included  herein,  the inclusion of such information should not be regarded as a
representation  by  the Company or any other person that the objectives or plans
of  the  Company  will  be  achieved.

                                     PART I

ITEM  1.  DESCRIPTION  OF  BUSINESS

Organization  and  History
--------------------------

       GTDATA  Corporation  (the "Company" or "GTDATA") is a Nevada corporation.
The  Company  was  originally  incorporated  on  March  17, 1986, under the name
Impressive  Ventures, Ltd. for the purpose of engaging in any lawful activity or
business.  In January 1998, we changed our name to World Internetworks, Inc. and
in  November  2001,  we  changed  our  name  to  GTDATA  Corporation.

       GT  Data  Corporation,  a  Delaware  corporation ("GT Data Delaware") was
originally  incorporated  on  April  14, 1998 according to the laws of Colorado.
GTData Delaware was reincorporated according to the laws of Delaware on February
17,  2000.  GT  Data  Delaware,  through  its  wholly-owned subsidiary Technical
Services  and Logistics Inc. (TSLI), was engaged in the sale, repair and support
service  of  in-warranty  and  out-of-warranty computer peripheral devices for a
variety  of  large  and  small  brand  name  manufacturers.

       On  February 27, 2001, World Internetworks, Inc. ("WINS") entered into an
Agreement  and Plan of Reorganization and Merger (the "Plan of Merger") with GTD
Acquisition,  Inc.  ("Newco")  and  GT  Data  Delaware.  On  March 20, 2001, and
pursuant  to

                                     3

<PAGE>

a  Certificate  filed  with  the  Nevada  Secretary of State, WINS
effected  a  1  for  2 reverse split of all the outstanding shares of its common
stock,  options  and warrants.  Immediately following the reverse split WINS had
50,000,000  shares  authorized  and  355,206  shares  issued  and  outstanding.
Outstanding  options and warrants were 11,225 and 40,750 respectively, after the
reverse  split.  On  March  22,  2001,  the Plan of Merger became effective (the
"Merger").  Under  the Merger, Newco merged with and into GT Data Delaware, with
GT  Data  Delaware  as  the surviving subsidiary of the Company. Pursuant to the
Plan  of  Merger,  all  of  the 384,420 outstanding series B preferred stock and
common  stock of GT Data Delaware were exchanged for shares of WINS 1 for 1 on a
post-split basis and 37,500 shares were issued to Fairway Capital Partners, LLC,
a  finder,  in connection with the transaction. All of the outstanding shares of
Newco  were  converted  into  shares  of  GT  Data  Delaware  as  the  surviving
corporation,  with  WINS as the sole holder of those shares. The transaction was
regarded  as  a reverse merger whereby GT Data Delaware was considered to be the
accounting acquirer as it retained control of WINS after the Merger. Pursuant to
the  Plan of Merger, certain shareholders of GTDATA Delaware agreed to surrender
358,297  shares  of  common stock prior to the consummation of the Merger.  As a
result  of  the reverse merger transaction that took place on February 27, 2001,
the Company adopted the fiscal year end of the formerly private company, GT Data
Delaware,  and  as  a  result, the Company's fiscal year end is now December 31.

     During  the fiscal year ended December 31, 2003, the business operations of
the  Company  which  were  comprised of the business operations of TSLI suffered
significant  setbacks  through  the  loss  of  certain  major  customers.  These
setbacks  resulted  in  the inability of the Company to continue viable business
operations.  As a result, the Company was forced to dispose of TSLI by way of an
assignment of TSLI to The Hammer Group.  The Hammer Group released GTDATA of any
liability that GTDATA may have had with respect to TSLI.  GTDATA did not receive
any  consideration  back  in  exchange  for  the  assignment.

Business  Operations
--------------------

Since  the assignment of TSLI, the Company has had no active business operations
other  than  searching  out  new  business opportunities that have potential for
profit. The Company currently has no commitment or arrangement to participate in
a  business  and  cannot  now predict what type of business it may enter into or
acquire.  It  is  emphasized  that  the business objectives discussed herein are
extremely  general  and  are not intended to be restrictive on the discretion of
the  Company's  management.

The analysis of new businesses will be undertaken by or under the supervision of
the  officers  and  directors.  In  analyzing  prospective  businesses  for
acquisition,  management  will consider, to the extent applicable, the available
technical,  financial,  and  managerial  resources;  working  capital  and other
prospects  for  the  future; the nature of present and expected competition; the
quality  and  experience  of  management services which may be available and the
depth  of  that  management; the potential for further research, development, or
exploration;  the  potential  for  profit;  the  perceived public recognition or

                                     4
<PAGE>


acceptance  of  products,  services,  or  trade  or  service  marks;  name
identification;  and  other  relevant  factors.

The  Company  will not restrict its search to any particular business, industry,
or  geographical  location,  and  management  reserves the right to evaluate and
enter into any type of business in any location.  The Company may participate in
a  newly organized business venture or a more established company entering a new
phase  of growth or in need of additional capital to overcome existing financial
problems.  Participation  in  a new business venture entails greater risks since
in  may instances management of such a venture will not have proved its ability,
the  eventual  market  of  such venture's product or services will likely not be
established, and the profitability of the venture will be unproved and cannot be
predicted  accurately.  If  the  Company participates in a more established firm
with  existing  financial  problems,  it  will  be subjected to risk because the
Company  has  no  financial  resources to assist in eliminating or reversing the
circumstances  leading  to  the  financial  problems.

The  period  within  which  the  Company may participate in a business cannot be
predicted  and  will  depend  on  circumstances  beyond  the  Company's control,
including  the  availability of businesses, the time required for the Company to
complete  its  investigation  and  analysis  of  prospective  business, the time
required  to  prepare  appropriate  documents  and  agreements  provided for the
Company's  participation,  and  other  circumstances.

Acquisition  of  a  Business

In  implementing  a structure for a particular business acquisition, the Company
may  become  a  party  to  a merger, consolidation, or other reorganization with
another  corporation  or  entity;  joint  venture; license; purchase and sale of
assets;  or  purchase and sale of stock, the exact nature of which cannot not be
predicted.  Notwithstanding  the  above,  the  Company  does  not  intend  to
participate  in  a  business  through  the purchase of minority stock positions.
Further,  the  Company  does  not  have  the assets necessary to make a business
acquisition  with cash.  Therefore, any acquisition would have to be in exchange
for  Company stock.  On the consummation of a transaction, it is likely that the
present management and shareholders of the Company will not be in control of the
Company.  In addition, a majority or all of the Company's directors may, as part
of  the  terms  of  the  acquisition  transaction, resign and be replaced by new
directors  without  a  vote  of  the  Company's  shareholders.

In  the  event  of  sales  of  shares  by  present  shareholders of the Company,
including  officers  and  directors,  is  a  negotiated  element  of  a  future
acquisition,  a  conflict  of  interest  may  arise  because  directors  will be
negotiating  for the acquisition on behalf of the Company and for sales of their
shares  for their own respective accounts.  Where a business opportunity is well
suited  for  acquisition  by  the  Company,  but  affiliates  of  the  business
opportunity  impose  a  condition  that  management sell their shares at a price
which  is  unacceptable  to  them,  management may not sacrifice their financial
interest  for  the  Company  to  complete  the  transaction.  Where the business
opportunity  is  not  well  suited,  but  the price offered management for their
shares is high, management may be tempted to

                                     5
<PAGE>

effect the acquisition to realize a
substantial gain on their shares in the Company.  Management has not adopted any
policy  for  resolving  the  foregoing  potential  conflicts, should they arise.
Stockholders  must rely, instead, on the obligation of management to fulfill its
fiduciary  duty  under state law to act in the best interests of the Company and
its  stockholders.


It  is  not  presently  intended  that  any  officer  or  director would receive
compensation  from  a target company as a condition to an acquisition.  However,
it  is  possible  that  a target company may require that an officer or director
sell  his or her shares in the Company to the target company, that an officer or
director be willing to enter into a consulting agreement, or it is possible that
an  officer  or director in a particular instance may be compensated in the form
of  a  finder's  fee  in  connection  with  a  particular  acquisition.

Operation  of  Business  After  Acquisition

The  Company's  operations  following  its  acquisition  of  a  business will be
dependent  on  the  nature of the business and the interest acquired.  It may be
expected that the business will present various risks, which cannot be predicted
at  the  present  time.

Government  Regulation

It  is  impossible  to  predict  the government regulation, if any, to which the
Company may be subject until it has acquired an interest in a business.  The use
of  assets  and/or  conduct  of  businesses  which the Company may acquire could
subject it to environmental, public health and safety, land use, trade, or other
governmental  regulations  and state or local taxation.  In selecting a business
in  which  to acquire an interest, management will endeavor to ascertain, to the
extent  of  the limited resources of the Company, the effects of such government
regulation  on  the  prospective  business  of  the  Company.  In  certain
circumstances,  however,  such  as  the  acquisition  of an interest in a new or
start-up business activity, it may not be possible to predict with any degree of
accuracy  the  impact  of  government  regulation.

Employees

The  Company  is  a  development  stage  company and currently has no employees.
Management of the Company expects to use consultants, attorneys, and accountants
as  necessary,  and does not anticipate a need to engage any full-time employees
so  long as it is seeking and evaluating businesses.  The need for employees and
their  availability  will  be addressed in connection with a decision whether or
not  to  acquire  or  participate  in  a  specific  business  industry.

ITEM  2.  DESCRIPTION  OF  PROPERTY

GTDATA does not own or lease any real property.  An office is maintained for the
Company  at  the present time at 7045 Wild Wave Drive, Las Vegas, Nevada  89131.
This  office  is provided as an accommodation to the Company by the president of
the  Company.

                                          6
<PAGE>

ITEM  3.  LEGAL  PROCEEDINGS

The  Company  is  not a party to any legal proceedings material to the financial
condition  of  the  Company.

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

There  were no matters submitted to a vote of the shareholders during the fiscal
year  ended  December  31,  2003.

                                     PART II

ITEM  5.  MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDERS MATTERS

MARKET  INFORMATION

The  common shares of the Company are listed on the OTC Bulletin Board under the
symbol  GTDTE.OB.  Following  is  the high and low bid  prices  for each quarter
beginning  with  the  first  calendar  quarter  of 2002.  The quotations reflect
inter-dealer prices, without retail mark-up, mark-down or commission and may not
represent  actual  transactions.
<TABLE>
<CAPTION>



Quarter         High  Low
--------------  ----  ----
<S>             <C>   <C>

Jan - Mar 2002  0.35  0.09
Apr - Jun 2002  0.45  0.07
Jul - Sep 2002  0.11  0.02
Oct - Dec 2002  0.08  0.02

Jan - Mar 2003  0.15  0.02
Apr - Jun 2003  0.35  0.07
Jul - Sep 2003  0.35  0.15
Oct - Dec 2003  0.35  0.09

Jan - Mar 2004  0.17  0.09
</TABLE>



Effective February 17, 2003, there was a 1 for 20 reverse split.

On  May  12, 2004, the best bid price of our common shares is $0.09 and the best
ask  price  is  $0.11.

At May 12, 2004 there were approximately 393 record holders of our common stock.

We  have  not  previously declared or paid any dividends on its common stock and
does  not  anticipate  declaring  any  dividends  in  the  foreseeable  future.

                                    7
<PAGE>


There  are  no  restrictions  in  our  articles  of incorporation or bylaws that
restrict  us from declaring dividends.  The Nevada Revised Statutes, however, do
prohibit  us  from  declaring  dividends  where,  after  giving  effect  to  the
distribution  of  the  dividend:

(1)     we  would  not  be able to pay our debts as they become due in the usual
course  of  business;  or

(2)     our  total  assets  would  be  less  that  the  sum  of  our  total
liabilities.

ITEM  6.  PLAN  OF  OPERATIONS

Overview

GTDATA  is  a  Nevada  based corporation.  During most of 2003, it conducted its
business  operations through its then wholly-owned subsidiaries, TSLi and GTDATA
Delaware.  (GTDATA  Delaware  is  merely  a  legal  entity;  it has no assets or
operations  of  any  nature).  On November 17, 2003, GTDATA's Board of Directors
voted  unanimously  to  sign a General Assignment Agreement with The Hamer Group
that  effectively  resulted in the liquidation of TSLi. The decision by GTDATA's
Board  of Directors was based primarily on the significant deterioration of both
TSLi's  customer  base  and  its  financial  condition.  Also factoring into the
board's  decision  was  the  fact  that  the Company received notice that TSLi's
revolving  credit  line  would  not  be  renewed  by its current lender when the
agreement  expired  on  November  15,  2003. The impending loss of TSLi's credit
line,  coupled  with  the  significant  deterioration  in  TSLi's customer base,
rendered TSLi's chances of survival almost nonexistent. As a result, on November
17,  2003, the Board of Directors of GTDATA voted unanimously to liquidate TSLi.

The  liquidation  of TSLi left GTDATA Corporation with no business operations of
any  kind.  The  decision  to  liquidate  TSLi  provided  the Company's Board of
Directors  with  the  opportunity  to  restructure GTDATA's debts so that GTDATA
could  continue  as  a  going  concern. However, there can be no assurances that
GTDATA  will be able to continue as a going concern.  This is especially true in
light  of  the fact that at fiscal year end, GTDATA had only $4,363 in assets as
compared  to  $877,428  in  liabilities.

GTDATA's  plan  of operation going forward is to seek outside investment, either
in  the  form of equity or debt or a combination of the two, and begin acquiring
companies  that  will operate as subsidiaries of GTDATA Corporation. The goal of
GTDATA's  management is to save the publicly traded GTDATA Corporation and build
it  into  a  profitable  business  through  strategic  acquisitions.

Currently,  GTDATA does not have any employees drawing a salary nor does it have
any  products  or services to offer for sale or to use to generate revenues. The
Company  is  not  currently  performing  any  market  or product research as the
Company has no products or services to market. The only expenses currently being
incurred  by  the  Company are legal and professional fees. At December 31, 2003
the  Company  had approximately $4,363 in

                                     8
<PAGE>

cash, and management hopes to preserve
what  little  cash  it  has  by  using the Company's common stock to satisfy its
liabilities.

Liquidity,  Capital  Resources,  and  Contingencies

The  Company  currently  has  a  number of obligations that it is unable to meet
without generating revenues or raising additional capital. If the Company cannot
generate  revenues  or  raise additional capital in the near future, the Company
may  become  insolvent  and  its  stock  would  become  illiquid  or  worthless.

The Company expects its continuing operations to continue using stock to satisfy
its  liabilities  as  it  continues to cope with both its net losses and working
capital  shortfall.  With  no current means to generate revenues and no tangible
assets  to  sell to generate cash, the Company must secure additional funding if
it  is  to  continue  as  a going concern. The Company's short-term plan for the
survival  of  its  continuing  operations  is  to minimize expenses and to issue


common  stock  to  satisfy  both  its  existing  liabilities and any liabilities
incurred  in  the  immediate  future  while  it  attempts  to  secure additional
financing. Without an immediate cash infusion, it is not likely that the Company
will  be  able  to  continue  as  a  going  concern.

Forward-Looking  Statements:
----------------------------
Many  statements made in this report are forward-looking statements that are not
based  on  historical  facts.  Because  these forward-looking statements involve
risks  and  uncertainties,  there  are important factors that could cause actual
results  to  differ  materially  from  those  expressed  or  implied  by  these
forward-looking  statements.  The forward-looking statements made in this report
relate  only  to  events  as  of  the  date  on  which  the statements are made.

ITEM  7.  FINANCIAL  STATEMENTS

                                      9
<PAGE>

                                TABLE OF CONTENTS

                                                             Page No.
                                                             --------

Report  of  Independent  Certified  Public  Accountants         F-2

Report  of  Independent  Certified  Public  Accountants         F-3


Financial  Statements

    Balance  Sheet                                              F-4

    Statements  of  Operations                                  F-5

    Statement  of  Stockholders'  Deficit                       F-6

    Statements  of  Cash  Flows                                 F-7

Notes  to  Financial  Statements                                F-8

                                      F-1
<PAGE>

               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

To the Stockholders and Board of Directors
GT  Data  Corporation
Odessa,  Florida

We  have  audited  the  accompanying  balance sheet of GT Data Corporation as of
December  31,  2003,  and  the  related  statements of operations, stockholders'
defcit  and  cash flows for the year then ended.  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.  The
financial  statements  of  the Company for the year ended December 31, 2002 were
audited  by  other  auditors  whose report dated February 20, 2003, expressed an
unqualified  opinion  on  those  statements.

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

In  our  opinion,  the financial statements referred to above present fairly, in
all  material  respects,  the  financial  position  of GT Data Corporation as of
December 31, 2003, and the results of its operations and cash flows for the year
then  ended  in  conformity with accounting principles generally accepted in the
United  States  of  America.

The  accompanying  financial  statements  have  been  prepared assuming that the
Company  will  continue  as  a  going  concern.  As  discussed  in Note 1 to the
financial  statements,  the  Company has suffered losses and current liabilities
exceed current assets, all of which raise substantial doubt about its ability to
continue as a going concern.  Management's plans in regards to these matters are
also  described  in  Note  1.  The  financial  statements  do  not  include  any
adjustments  that  might  result  from  the  outcome  of  this  uncertainty.


/s/  De  Joya  &  Company
De  Joya  &  Company
Las  Vegas,  Nevada
April  30,  2004
                                       F-2
<PAGE>

                        INDEPENDENT AUDITORS' REPORT

To the Board of Directors and Stockholders GT Data Corporation and Subsidiaries

We  have  audited  the  accompanying  consolidated  statement  of  operations,
stockholders'  deficit and cash flows for the year ended December 31, 2002 of GT
Data  Corporation  and  Subsidiaries  (collectively,  the  "Company").  These
consolidated  financial  statements  are  the  responsibility  of  the Company's
management.  Our  responsibility  is to express an opinion on these consolidated
financial  statements  based  on  our  audit.

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

In  our opinion, the consolidated financial statements referred to above present
fairly,  in all material respects, the financial position of GT Data Corporation
and  Subsidiaries as of December 31, 2002, and the results of its operations and
its cash flows for the year then ended, in conformity with accounting principles
generally  accepted  in  the  United  States  of  America.

The  accompanying  consolidated financial statements have been prepared assuming
that  the  Company  will continue as a going concern. The consolidated financial
statements  do  not  include any adjustments that may result from the outcome of
this  uncertainty.

/s/  Squar,  Milner,  Reehl  &  Williamson,  LLP
February  20,  2003
Newport  Beach,  California


                                      F-3
<PAGE>

                           GTDATA CORPORATION
                              BALANCE SHEET
                            DECEMBER 31, 2003
<TABLE>
<CAPTION>
                               ASSETS

Current assets
<S>                                                       <C>
  Cash . . . . . . . . . . . . . . . . . . . . . . . . .  $     4,363
                                                          ------------
    Total current assets . . . . . . . . . . . . . . . .        4,363
                                                          ------------
Total assets . . . . . . . . . . . . . . . . . . . . . .  $     4,363
                                                          ============

LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities
  Accounts payable and accrued liabilities . . . . . . .  $   480,094
  Interest payable . . . . . . . . . . . . . . . . . . .      154,568
  Notes payable to related parties . . . . . . . . . . .      242,766
                                                          ------------
    Total current liabilities. . . . . . . . . . . . . .      877,428
                                                          ------------
    Total liabilities. . . . . . . . . . . . . . . . . .      877,428

Commitments and contingencies. . . . . . . . . . . . . .            -

Stockholders' deficit
  Series A preferred stock, $0.001 par value; 1 share
    authorized, issued and outstanding . . . . . . . . .


  Series B preferred stock, $0.001 par value; 10,000,000
    authorized; and no shares issued or outstanding. . .
  Common stock, $0.001 par value; 12,500,000 shares
    authorized, 3,736,209 shares issued and outstanding.        3,736
  Additional paid-in capital . . . . . . . . . . . . . .    2,165,734
  Accumulated deficit. . . . . . . . . . . . . . . . . .   (3,042,535)
                                                          ------------
    Total stockholders' deficit. . . . . . . . . . . . .     (873,065)
                                                          ------------
Total liabilities and stockholders' deficit. . . . . . .  $     4,363
                                                          ============
</TABLE>
                               F-4
         See Accompanying Notes to Financial Statements
<PAGE>

                                        GTDATA CORPORATION
                                     STATEMENTS OF OPERATIONS
                           FOR THE YEARS ENDED DECEMBER 31, 2003 AND 2002

<TABLE>
<CAPTION>

                                                                   For the Year Ended    For the Year Ended

                                                                     December 31, 2003    December 31, 2002
                                                                   ----------------------------------------
<S>                                                                 <C>                  <C>
Revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $                -   $                -

Operating expenses
  Employee compensation. . . . . . . . . . . . . . . . . . . . . .              95,048              203,115
  General and administrative . . . . . . . . . . . . . . . . . . .             220,078              716,648
                                                                    ---------------------------------------
    Total operating expenses . . . . . . . . . . . . . . . . . . .             315,126              919,763
                                                                    ---------------------------------------
Operating loss from continuing operations. . . . . . . . . . . . .            (315,126)           (919,763)

Other income (expense):
  Other income . . . . . . . . . . . . . . . . . . . . . . . . . .                   -              437,215
  Other expense. . . . . . . . . . . . . . . . . . . . . . . . . .                   -            (157,636)
  Loss from disposition of TSLi. . . . . . . . . . . . . . . . . .             (41,179)                   -
  Interest expense, net. . . . . . . . . . . . . . . . . . . . . .             (22,381)            (92,959)
                                                                    ---------------------------------------
    Total other income (expense) . . . . . . . . . . . . . . . . .             (63,560)             186,620
                                                                    ---------------------------------------
Loss from continuing operations before provision for income taxes.            (378,686)           (733,143)

Provision for income taxes . . . . . . . . . . . . . . . . . . . .                   -                    -
                                                                    ---------------------------------------
Loss from continuing operations. . . . . . . . . . . . . . . . . .            (378,686)           (733,143)

Income (loss) from discontinued operations, net of taxes . . . . .             (77,994)             229,021
                                                                    ---------------------------------------
Net loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $         (456,680)  $        (504,122)
                                                                    =======================================
Earnings (loss) per common share - basic and diluted:

  Loss from continuing operations. . . . . . . . . . . . . . . . .  $            (0.11)  $           (0.47)
                                                                    =======================================
  Income (loss) from discontinued operations . . . . . . . . . . .  $            (0.02)  $             0.15
                                                                    =======================================
  Net loss . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $            (0.11)  $           (0.32)
                                                                    =======================================
Weighted average common shares outstanding -
  Basic and diluted. . . . . . . . . . . . . . . . . . . . . . . .           3,469,543            1,567,646
                                                                    =======================================
</TABLE>

                        See Accompanying Notes to Financial Statements

                                              F-5

<PAGE>

                                              GTDATA CORPORATION
                                      STATEMENT OF STOCKHOLDERS DEFICIT
                               FOR THE YEARS ENDED DECEMBER 31, 2003 AND 2002
<TABLE>
<CAPTION>

                                     Preferred  A     Preferred  B      Common  Stock
                                    --------------   --------------   ------------------     Additional
                                    Shares  Amount   Shares  Amount    Shares    Amount    Paid-in Capital
                                    ------  -------  ------  ------   -------    -------  ----------------
<S>                                 <C>     <C>      <C>     <C>      <C>        <C>      <C>
Balance, December 31, 2001 . . . .       1  $     -       -  $     -    803,126  $   803  $    1,327,955

Shares issued to TSLi employees in       -        -       -        -     31,500       31             (31)
connection with the merger with
  WINS

Value of stock options issued and.       -        -       -        -     32,500       33          89,967
  exercised

Shares issued in connection with .       -        -       -        -  2,358,333    2,358         952,642
  conversion of notes payable and
  other liabilities

Shares sold in connection with the       -        -       -        -     86,250       86          34,414
  private placement for cash

Shares issued in connection with .       -        -       -        -    124,500      125          49,675
  convertible debt

Interest earned on subscriptions .       -        -       -        -          -        -               -
  receivable

Reclassification of subscriptions.       -        -       -        -          -        -        (348,588)
  receivable and interest to
  additional paid-in capital

Net loss . . . . . . . . . . . . .       -        -       -        -          -        -               -
                                   -------  -------  ------  -------  ---------  -------  --------------
Balance, December 31, 2002 . . . .       1        -       -        -  3,436,209    3,436       2,106,034

Shares issued in connection with .       -        -       -        -    200,000      200          39,800
  exercise of stock options

Value of stock options issued and.       -        -       -        -    100,000      100          19,900
  exercised

Net loss . . . . . . . . . . . . .       -        -       -        -          -        -               -
                                   -------  -------  ------  -------  ---------  -------  --------------
Balance, December 31, 2003 . . . .       1  $     -       -  $     -  3,736,209  $ 3,736  $    2,165,734
                                   =======  =======  ======  =======  =========  =======  ==============
---------------------------------------------------------------------------------------------------------

                                                                          Total
                                    Subscriptions     Accumulated      Stockholders
                                      Receivable        Deficit          Deficit
                                    ------------      -----------      ------------
<S>                                 <C>               <C>              <C>
Balance, December 31, 2001 . . . .  $   (348,588)     $(2,081,733)     $ (1,101,563)

Shares issued to TSLi employees in             -                -                 -
  connection with the merger with
  WINS

Value of stock options issued and.             -                -            90,000
  exercised

Shares issued in connection with .             -                -           955,000
  conversion of notes payable and
  other liabilities

Shares sold in connection with the             -                -            34,500
  private placement for cash

Shares issued in connection with .             -                -            49,800
  convertible debt

Interest earned on subscriptions .       (14,234)               -           (14,234)
  receivable

Reclassification of subscriptions.       362,822                -            14,234
  receivable and interest to
  additional paid-in capital

Net loss . . . . . . . . . . . . .            -         (504,122)         (504,122)
                                    ------------      -----------      ------------
Balance, December 31, 2002 . . . .            -       (2,585,855)         (476,385)

Shares issued in connection with .            -                -            40,000
  exercise of stock options

Value of stock options issued and.            -                -            20,000
  exercised

Net loss . . . . . . . . . . . . .            -         (456,680)         (456,680)
                                    ------------      -----------      ------------
Balance, December 31, 2003 . . . .  $         -      $(3,042,535)      $  (873,065)

</TABLE>

                        See Accompanying Notes to Financial Statements

                                              F-6
<PAGE>

                                    GTDATA CORPORATION
                                 STATEMENTS OF CASH FLOWS
                      FOR THE YEARS ENDED DECEMBER 31, 2003 AND 2002
<TABLE>
<CAPTION>

                                                                        For the Year         For the Year
                                                                       Ended December       Ended December
                                                                         31, 2003             31, 2002
                                                                      --------------  -------------------
<S>                                                                   <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $    (456,680)  $         (504,122)
  Less: income (loss) from discontinued operations . . . . . . . . .        (77,994)             229,021
                                                                      --------------  -------------------
    Loss from continuing operations. . . . . . . . . . . . . . . . .       (378,686)            (733,143)
  Adjustments to reconcile loss from continuing
      operations to net cash used in operating activities:
        Estimated fair market value of common stock
         issued in connection with convertible debt. . . . . . . . .              -               49,800
        Estimated fair market value of options issued
        in connection with convertible debt. . . . . . . . . . . . .              -               90,000
      Write-off of note and interest receivable. . . . . . . . . . .              -              157,637
  Changes in operating assets and liabilities:
      Accounts payable and accrued liabilities . . . . . . . . . . .         86,714             (265,698)
      Interest payable . . . . . . . . . . . . . . . . . . . . . . .         18,274              277,795
                                                                      --------------  -------------------
   Net cash used in operating activities of continuing operations. .       (273,698)            (423,609)

CASH FLOW FINANCING ACTIVITIES
  Proceeds from issuance of common stock . . . . . . . . . . . . . .         60,000               34,500
  Proceeds from borrowings on notes payable to related parties . . .         20,000                    -
                                                                      --------------  -------------------
  Net cash provided by financing activities of continuing operations         80,000               34,500
                                                                      --------------  -------------------
NET CASH PROVIDED BY (USED IN) CONTINUING OPERATIONS . . . . . . . .       (193,698)            (389,109)

NET CASH PROVIDED BY DISCONTINUED OPERATIONS . . . . . . . . . . . .        147,953              366,077
                                                                      --------------  -------------------
NET CHANGE IN CASH . . . . . . . . . . . . . . . . . . . . . . . . .        (45,745)             (23,032)

CASH AT BEGINNING OF YEAR. . . . . . . . . . . . . . . . . . . . . .         50,108               73,140
                                                                      --------------  -------------------
CASH AT END OF YEAR. . . . . . . . . . . . . . . . . . . . . . . . .  $       4,363   $           50,108
                                                                      ==============  ===================
SUPPLEMENTAL INFORMATION:
  Interest paid. . . . . . . . . . . . . . . . . . . . . . . . . . .  $           -   $          131,452
                                                                      ==============  ===================

  Income taxes paid. . . . . . . . . . . . . . . . . . . . . . . . .  $           -   $            1,600
                                                                      ==============  ===================

</TABLE>

                        See Accompanying Notes to Financial Statements

                                              F-7
<PAGE>


                               GT DATA CORPORATION
                          NOTES TO FINANCIAL STATEMENTS

NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES
----------------------------------------------------------

Organization  -  GT Data Corporation (the "Company") was originally incorporated
on  April  14,  1998  according  to  the  laws  of  Colorado.  The  Company  was
reincorporated  according  to  the  laws  of  Delaware on February 17, 2000.  On
February  27, 2001, World Internetworks, Inc. ("WINS") entered into an Agreement
and  Plan  of  Reorganization  and  Merger  (the  "Plan  of  Merger")  with  GTD
Acquisition,  Inc.  ("Newco")  and GT Data Corporation ("GT Data"). On March 20,
2001,  and  pursuant  to a Certificate filed with the Nevada Secretary of State,
the  WINS  effected a 1 for 2 reverse split of all the outstanding shares of its
common stock, options and warrants. Immediately following the reverse split WINS
had  250,000,000  shares  authorized  and 355,206 shares issued and outstanding.
Outstanding  options and warrants were 11,225 and 40,750 respectively, after the
reverse  split.  On  March  22,  2001,  the Plan of Merger became effective (the
"Merger"). Under the Merger, Newco merged with and into GT Data, with GT Data as
the  surviving  subsidiary  of  the  Company.  On  December 3, 2001, the Company
changed  its  name  from  WINS  to  GT Data Corporation. Pursuant to the Plan of
Merger,  all of the 384,420 outstanding preferred B and common shares of GT Data
were  exchanged  for  shares  of  WINS  1 for 1 on a post-split basis and 37,500
shares  were  issued  to  Fairway Capital Partners, LLC, a finder, in connection
with the transaction. All of the outstanding shares of Newco were converted into
shares  of GT Data as the surviving corporation, with WINS as the sole holder of
those  shares.  The transaction was regarded as a reverse merger whereby GT Data
was  considered  to  be  the  accounting acquirer as it retained control of WINS
after  the  Merger.  Pursuant  to the Plan of Merger, certain shareholders of GT
Data  agreed  to  surrender  358,297  shares  of  common  stock  prior  to  the
consummation  of  the  Merger.   Prior to the merger, the WINS had insignificant
business  activity.  The  accounting  for  the  acquisition is identical to that
resulting from a reverse acquisition, except goodwill or other intangible assets
are  not  recorded.  Accordingly,  these financial statements are the historical
financial  statements  of  GT  Data.

Up  until November 2003, the Company was engaged in the sale, repair and support
service  of  in-warranty  and  out-of-warranty computer peripheral devices for a
variety  of  large  and  small brand name manufacturers through its wholly owned
subsidiary, Technical Services & Logistics Inc. ("TSLi").  On November 17, 2003,
the  Company's  Board of Directors voted unanimously to liquidate TSLi through a
General  Assignment benefiting the creditors of TSLi.  On November 26, 2003, the
Company consummated a General Assignment Agreement ("the agreement") that assign
all  the  assets and liabilities of TSLi to the C.F. Boham Company, Inc., d.b.a.
the  Hamer  Group, of Los Angeles, California.   The assignment is essentially a
liquidation  of  TSLi that was overseen by the Hamer Group, who acted as trustee
of  TSLi's  affairs  during  the  liquidation  process.

Pursuant to the terms of the agreement, GT DATA agreed to immediately assign all
of  TSLi's assets and liabilities, and forward all books and records relating to
TSLi,  to  the Hamer Group.  The assignment constitutes a grant deed to all real
property  owned  by TSLi and effectively transfers title of TSLi's real property
to  the  Hamer  Group.  In  addition,  the  agreement  transfers legal title and
possession  of  all  assets  and liabilities of TSLi to the Hamer Group and also
gave  the  Hamer Group sole authority, and responsibility, to sell the assets of
TSLi  and  distribute  any available funds to the creditors of TSLi.  In effect,
the  agreement  gives  total  and complete control of TSLi to the Hamer Group to
oversee the liquidation process.  The agreement also stated that the Hamer Group
shall pay itself, from the gross proceeds of sales, collections, operations, and
any  and  all other sources, a minimum of thirty thousand dollars ($30,000) plus
reasonable  administrative  expenses.  The  agreement also stated that the Hamer
Group is entitled to pay its agents, and any other professionals and individuals
employed  on  its  behalf, for any and all services and expenses incurred during
the  liquidation of TSLi.  In addition, the Hamer Group is entitled to a 15% fee
on gross recoveries from collections on preferences or lawsuits and a reasonable
fee,  including  expenses,  for  the  collection  thereof.  In the event that an
involuntary  proceeding  is filed, the Hamer Group may pay its counsel, or other
professionals,  out  of  liquidated  recoveries  of  TSLi's  estate.  Per  the
agreement,  all  aforementioned  amounts  are  to be determined at the sole, but
reasonable, discretion of the Hamer Group, and judgment shall include but not be
limited  to  monthly administrative charges.  The Company has accounted for this
assignment  of  TSLi  as discontinued operations in accordance with Statement of
Financial  Accounting  Standards  ("SFAS")  No.  144,  see Note 2 for additional
discussion.   Accordingly,  the  Company has reflected all activities related to
TSLi  operations  as  discontinued  operations  in  the  accompanying  financial
statements.

As  a  result  of  the discontinued operations of TSLi activities, the Company's
sole  activity  as  of  December  31, 2003 is maintaining its corporate affairs.

                                     F-8

<PAGE>

                               GT DATA CORPORATION
                          NOTES TO FINANCIAL STATEMENTS


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (continued)
----------------------------------------------------------

Going  concern  -  The Company incurred a net loss of approximately $472,000 for
the  year  ended December 31, 2003.  The Company's liabilities exceed its assets
by  approximately  $873,000  as  of  December  31,  2003.  The  Company's  sole
operations  has  been  discontinued  with no other source of operating revenues.
These  factors  create substantial doubt about the Company's ability to continue
as  a  going  concern.  The  Company's  management  plans to continue as a going
concern  revolves  around  its  ability  to  develop and/or acquire new business
operations,  as  well  as,  raise  necessary  capital  to maintain the corporate
affairs  of  the  Company.

The  ability  of  the  Company  to  continue  as a going concern is dependent on
securing  additional  sources  of capital and the success of the Company's plan.
The  financial statements do not include any adjustments that might be necessary
if  the  Company  is  unable  to  continue  as  a  going  concern.

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

Principles  of consolidation - The consolidated financial statements include the
accounts  of  GT  DATA  Corporation, GT Data Delaware and Technical Services and
Logistics, Inc. (up through date of liquidation), wholly owned subsidiaries. All
significant  intercompany  accounts  and  transactions  have  been eliminated in
consolidation.

Property  and  equipment  -  Fixed  assets  are  stated at cost less accumulated
depreciation.  Depreciation  is provided principally on the straight-line method
over the estimated useful lives of the assets, which are generally 5 to 7 years.
The  amounts  of  depreciation provided are sufficient to charge the cost of the
related  assets  to  operations  over their estimated useful lives.  The cost of
repairs  and  maintenance  is  charged to expense as incurred.  Expenditures for
property  betterments  and  renewals  are  capitalized.  Upon  sale  or  other
disposition  of  a  depreciable  property, cost and accumulated depreciation are
removed  from  the  accounts  and any gain or loss is reflected in other income.

The  Company  periodically  evaluates  whether  events  and  circumstances  have
occurred  that may warrant revision of the estimated useful life of fixed assets
or  whether  the  remaining  balance  of  fixed  assets  should be evaluated for
possible  impairment.  The  Company uses an estimate of the related undiscounted
cash  flows  over  the  remaining  life  of  the fixed assets in measuring their
recoverability.

Comprehensive  income  -  In June 1998, the Financial Accounting Standards Board
("FASB") issued SFAS No. 130, "Reporting Comprehensive Income" was issued.  SFAS
No.  130  establishes  standards  for the reporting and display of comprehensive
income  and its components in the financial statements.  As of December 31, 2003
and  2002,  the  Company  has  no items that represent comprehensive income and,


therefore,  has  not  included  a  schedule  of  Comprehensive  Income  in  the
accompanying  financial  statements.

Income taxes - The Company accounts for its income taxes in accordance with SFAS
No.  109,  which requires recognition of deferred tax assets and liabilities for
future  tax  consequences  attributable  to  differences  between  the financial
statement  carrying  amounts  of  existing  assets  and  liabilities  and  their
respective  tax  bases  and  tax  credit carryforwards.  Deferred tax assets and
liabilities  are  measured  using enacted tax rates expected to apply to taxable
income  in  the  years  in  which those temporary differences are expected to be
recovered  or  settled.  The  effect on deferred tax assets and liabilities of a
change  in tax rates is recognized in operations in the period that includes the
enactment  date.

As of December 31, 2003, the Company has available net operating loss carryovers
of  approximately  $3,058,000  that will expire in various periods through 2023.
Such  losses  may  not  be  fully  deductible  due to the significant amounts of
non-cash  service  costs.  The Company has established a valuation allowance for
the  full  tax  benefit  of the operating loss carryovers due to the uncertainty
regarding  realization.

                                    F-9
<PAGE>

                               GT DATA CORPORATION
                          NOTES TO FINANCIAL STATEMENTS



NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (continued)
----------------------------------------------------------

Stock-based  compensation  -  The  Company  applies  Accounting Principles Board
("APB")  Opinion  No.  25, Accounting for Stock Issued to Employees, and Related
Interpretations, in accounting for stock options issued to employees.  Under APB
No.  25,  employee  compensation cost is recognized when estimated fair value of
the  underlying  stock  on date of the grant exceeds exercise price of the stock
option.  For  stock  options  and  warrants issued to non-employees, the Company
applies  SFAS  No.  123, Accounting for Stock-Based Compensation, which requires
the  recognition of compensation cost based upon the fair value of stock options
at  the  grant  date  using  the  Black-Scholes  option  pricing  model.

At  December  31,  2003,  the  Company has two stock-based employee compensation
plans, which are described in Note 5. The Company accounts for those plans under
the recognition and measurement principles of APB 25 and related interpretation.
No  compensation  cost  has  been  recognized  for such compensation plans. Cash
options  granted  under  these  plans  had an exercise price equal to the market
value  of  the underlying common stock on the date of grant. The following table
illustrates  the  effect on net loss and loss per common share as if the Company
had  applied  the  fair  value  method  of  SFAS  123  to  stock-based  employee
compensation.
<TABLE>
<CAPTION>



                                                2003         2002
                                             ----------   ----------
Net loss:
<S>                                          <C>          <C>
    As reported                              $(456,680)   $(504,122)
    Deduct: Total stock-based employee
            compensation expense
            determined under fair
            value-based method for
            all awards, net of related
            tax effects                       (281,261)      (2,633)
                                             ----------   ----------
    Proforma                                 $(737,941)   $(506,755)
                                             ==========   ==========

  Loss per common share:
    As reported                              $(0.11)         $(0.32)
                                             ==========   ==========
    Proforma                                 $(0.21)         $(0.32)
                                             ==========   ==========
</TABLE>



Fair value of financial instruments - The carrying amounts of net liabilities of
discontinued  operations approximate fair value because of the short-term nature
of  this  instrument.

Net  income (loss) per common share - The Company computes net income (loss) per
share  in  accordance  with  SFAS  No.  128,  Earnings  per  Share and SEC Staff
Accounting  Bulletin  ("SAB")  No. 98.  Under the provisions of SFAS No. 128 and
SAB  No.  98,  basic  net  loss  per  share is computed by dividing the net loss
available  to  common stockholders for the period by the weighted average number
of  shares  of  common  stock outstanding during the period.  The calculation of
diluted  net  loss  per share gives effect to common stock equivalents, however,
potential  common  shares  are  excluded  if  their  effect  is  antidilutive.

New  accounting  pronouncements - In January 2003, the FASB issued SFAS No. 148,
Accounting  for  Stock-Based  Compensation  -  Transition  and  Disclosure. This
statement  provides  alternative methods of transition for a voluntary change to
the fair value-based method of accounting for stock-based employee compensation.
In  addition, this statement also amends the disclosure requirements of SFAS No.
123  to  require  more  prominent  and  frequent  disclosures  in  the financial
statements  about  the  effects of stock-based compensation. Because the Company
continues to account for employee stock-based compensation under APB Opinion No.
25,  the  transitional  guidance  of SFAS No. 148 has no effect on the financial
statements  at  this  time.

                                     F-10

<PAGE>
                               GT DATA CORPORATION
                          NOTES TO FINANCIAL STATEMENTS


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (continued)
----------------------------------------------------------

New  accounting  pronouncements  -  (continued)
-------------------------------

In  November  2002,  the  Financial  Accounting  Standards  Board  issued  FASB
Interpretation  No.  45  ("FIN  No.  45"), Guarantor's Accounting and Disclosure
Requirements  for  Guarantees,  Including Indirect Guarantees of Indebtedness of
Others  an  interpretation  of  SFAS  No.  5, 57, and 107 and rescission of FASB
Interpretation No. 34, was issued. FIN No. 45 clarifies the requirements of SFAS
No.  5,  Accounting for Contingencies, relating to a guarantor's accounting for,
and  disclosure of, the issuance of certain types of guarantees. The adoption of
the  provisions  of  FIN  No. 45 did not have a material impact on the Company's
results  of  operations,  financial  position  or  cash  flows.

In  January  2003,  the  FASB  issued  Interpretation  No.  46, Consolidation of
Variable  Interest  Entities.  This  interpretation  establishes  standards  for
identifying  a  variable  interest  entity  and  for  determining  under  what
circumstances a variable interest entity should be consolidated with its primary
beneficiary.  Until  now, a company generally has included another entity in its
consolidated  financial  statements  only  if  it  controlled the entity through
voting  interests.  Interpretation  No.  46 changes that by requiring a variable
interest  entity to be consolidated by a company if that company is subject to a
majority  of  the risk of loss from the variable interest entity's activities or
is  entitled to receive a majority of the entity's residual returns or both. The
Company  does  not  believe  that the adoption of this pronouncement will have a
material  effect  on  its  financial  statements.

Reclassification  -  The  financial  statements  for  2002  reflect  certain
reclassifications,  which  have  nominal  effect  on  net  income, to conform to
classifications  in  the  current  year.

NOTE  2  -  DISCONTINUED  OPERATIONS
------------------------------------

As  discussed in Note 1, TSLi was assigned to the Hamer Group for the benefit of
TSLi's  creditors.  As  a  result  of  the  foregoing  factors,  the  Company
discontinued  its  only  operating activities in November 2003.  The Company has
accounted  for this discontinuance as discontinued operations in accordance with
SFAS  No. 144.  Accordingly, the Company has reflected all activities related to
TSLi  as  discontinued  operations  in  the  accompanying  financial statements.

The  following  is  a summary of activities from discontinued operations for the
year  ended  December  31,  2003  and  2002:
<TABLE>
<CAPTION>



                                                      2003         2002
                                                   -----------  ----------
<S>                                                <C>          <C>
Revenues. . . . . . . . . . . . . . . . . . . . .  $1,902,156   $3,323,990
Expenses. . . . . . . . . . . . . . . . . . . . .   1,980,150    3,094,969
                                                   -----------  ----------
  Income (loss) before provision for income taxes     (77,994)     229,021
Provision for income taxes. . . . . . . . . . . .          --           --
                                                   -----------  ----------

  Income (loss) from discontinued operations. . .  $  (77,994)  $  229,021
                                                   ===========  ==========
</TABLE>



NOTE  3  -  RELATED  PARTY  TRANSACTIONS
----------------------------------------

Notes  Payable to Related Parties - Notes payable to related parties at December
31,  2003  totaling  $242,766  consist  of working capital loans from two of the
Company's  major  stockholders. The borrowings accrue interest at 8% and are due
on demand.  The stockholders elected to stop charging interest beginning October
1,  2003.  Total interest expense incurred on these borrowings was approximately
$18,000  and  $44,000  for  the  years  ended  December  31,  2003  and  2002,
respectively, of which, approximately $155,000 is accrued under interest payable
in  the  accompanying  balance  sheet  at  December  31,  2003.

                                      F-11

<PAGE>

                               GT DATA CORPORATION
                          NOTES TO FINANCIAL STATEMENTS


NOTE  3  -  RELATED  PARTY  TRANSACTIONS-  (continued)
----------------------------------------

Consulting Agreements - On March 28, 2002, the Company entered into a consulting
agreement  with  the  former  Chief  Executive  Officer  ("former CEO") of World
Internetworks,  as  a  consultant and advisor to the Company. The former CEO had
been  retained  to  assist  the  Company  with  its  internet  operations,  make
introductions  to  possible  strategic partners, and to complete the transfer of
ownership  of  the  internet domain names related to the Company. The former CEO
will  also  assist  with  corporate  communications  and investor relations. The
agreement  expired  in  December  2002.  Pursuant  to the agreement, the Company
granted  options  to  the  former CEO to purchase 12,500 shares of the Company's
common  stock with a non-cash exercise feature. The options vest immediately and
are  exercisable  through  March  2012.

On  April 18, 2002, the Company entered into an agreement with the former CEO of
World  Internetworks,  Inc. to design, develop, host and maintain a web site for
the Company and to also handle the Company's public/investor relations. Pursuant
to  the  agreement,  the  Company  granted options to the former CEO to purchase
20,000  shares  of  the Company's common stock with a non-cash exercise feature.
The  options  vest  immediately  and  are  exercisable  through  April  2012.

On  June  14,  2002  the  former  CEO  of  World  Internetworks  exercised  the
above-mentioned  32,500  options  utilizing  the  non-cash  exercise  feature,
resulting  in  the  Company  issuing  32,500  shares  of  its  common  stock.

The  above  option  transactions were measured on the grant dates using the fair
value  method of accounting as required by SFAS No. 123 and FIN 44. As a result,
the  Company  recognized  total compensation expense of approximately $90,000 in
the  accompanying  consolidated  statements  of operations during the year ended
December  31,  2002.

NOTE  4  -  INCOME  TAXES
-------------------------

The  Company  did  not  record  any  current or deferred income tax provision or
benefit  for  any  of  the  periods  presented  due to continuing net losses and
nominal  differences.

The  Company  has provided a full valuation allowance on the deferred tax asset,


consisting  primarily  of net operating losses, because of uncertainty regarding
its  realizability.

As  of  December 31, 2003, the Company had a net operating loss carry forward of
approximately  $3,043,000  for  federal  income  tax  purposes  to offset future
taxable  income,  if  any.  Utilization of the net operating loss carry forward,
which  will  expire  in  various periods through 2023, may be subject to certain
limitations  under Section 382 of the Internal Revenue Code of 1986, as amended,
and  other limitations under state and foreign tax laws.  To the extent that net
operating  losses  of  approximately  $3,043,000, when realized, relate to stock
options  and  warrants, the resulting benefits will be credited to stockholders'
equity.

Deferred  income  taxes  reflect  the  net  tax effects of temporary differences
between  the  carrying amounts of assets and liabilities for financial reporting
purposes and the amounts used for income tax purposes.  As of December 31, 2003,


significant components of the Company's deferred tax assets are approximately as
follows:
<TABLE>
<CAPTION>



<S>                                                       <C>
Net operating loss                                        $(3,043,000)
Stock based compensation                                    1,105,615
                                                          ------------
       Total deferred tax assets                            1,937,385
       Valuation allowance for deferred tax assets         (1,937,385)
                                                          ------------

       Net deferred tax assets                            $        --
                                                          ============
</TABLE>


                                     F-12

<PAGE>
                               GT DATA CORPORATION
                          NOTES TO FINANCIAL STATEMENTS

NOTE  5  -  STOCKHOLDERS'  EQUITY
---------------------------------

Preferred  Stock  -  The  Company's  articles  of  incorporation authorize up to
27,000,000 shares of $0.001 par value preferred stock. Shares of preferred stock
may  be  issued  in  one  or more classes or series at such time as the Board of
Directors  determine.  During  fiscal  2000, the Board of Directors designated 1
share  of Series A preferred stock ("Preferred A"). Each share of Preferred A is
convertible  into  common stock at a rate of $10.00 per share, subject to future
adjustments,  as  defined.  As  of December 31, 2003, the Company has 1 share of
Preferred  A  issued  and  outstanding.

During  fiscal  2000, the Board of Directors had designated 10,000,000 shares of
Series  B 7% convertible preferred stock ("Preferred B"). Each Preferred B share
has  a  liquidation preference of $10.00 per share plus accrued dividends and is
convertible  at anytime into such number of fully paid and non-assessable shares
of  common  stock  as  is  determined  by dividing $10.00 plus the amount of any
accrued  and  unpaid  dividends by the conversion price of $10.00 at the time of
conversion,  subject  to  future adjustments, as defined. The Preferred B shares
are  automatically converted in the event of an effective registration statement
filing  or  and  affirmative  vote of the preferred holders voting as a separate
class.  As  of  December  31,  2003,  no  shares  of  Preferred B were issued or
outstanding.

During  fiscal  2001,  the Company sold 1,100 shares of Preferred B to investors
for  proceeds  of  $4,907  (net  of  commissions  paid  of  $6,093).

In  connection  with  the reverse merger (see Note 1), the Company converted the
73,950  Preferred B shares into 73,950 shares of the Company's common stock (see
below).

Common  Stock  -  In  October  1999, the Company issued 400,000 shares of common
stock  for  a  stock subscription receivable. During the year ended December 31,
2002,  the  Company  reclassified  $362,822  that  was  previously  recorded  as
subscriptions  receivable  as  a  reduction to additional paid-in capital on the
consolidated  balance  sheet.  The  subscriptions  receivable  were  related  to
founder's  stock  granted  to  the  founders of the Company. The Company did not
recognize any interest income related to the subscriptions receivable during the
year  ended  December  31,  2002.

In  connection  with the reverse merger (see Note 1), the Company issued 466,656
shares  of  common  stock  (including  73,950  for  the  conversion  of Series B
Preferred  stock  on  a  one  to  one  basis  and 37,500 shares to a finder). In
addition,  certain  shareholders  agreed  to  surrender 358,297 shares of common
stock.

In  May  2001,  the  Company  sold 26,000 shares of common stock to an unrelated
investor  for  proceeds  of  $112,680  (net  of commissions paid of $17,320). In
addition,  the  Company  granted the investor a warrant to purchase up to 26,000
shares  of  the  Company's restricted common stock at an exercise price of $5.00
per  share  (see  below).

In  June  2002,  the Company issued 31,500 shares of its common stock to certain
shareholders  in  connection  with  the  Company's  reverse  merger  with  World
Internetworks,  Inc. in April 2001 (see Note 1). The shares represent additional
shares  for  the  fractional  shares  which  resulted  from  the  merger and the
resulting reverse stock split. The Company did not value the shares as they were
a  result  of  the  stock  exchange  between  the  companies.

On  June 14, 2002 the former CEO of World Internetworks exercised 32,500 options
utilizing the non-cash exercise feature, resulting in the Company issuing 32,500
shares  of  its  common  stock  (see  Note  3).

Effective  September  12, 2002, Robert Genesi, CEO and President of the Company,
and  Tony  Giraudo,  a  founder  of  the Company, agreed to convert $300,000 and
$70,000,  respectively,  of funds owed them into the Company's common stock at a
conversion  price  of  $0.40  per share (estimated by the Company to be the fair
market  value based on the closing bid price on the date of conversion). Per the
terms  of  the  conversion  agreement,  the Company issued 750,000 shares of its
common  stock  to  Mr.  Genesi  and  175,000  shares  to  Mr.  Giraudo.

                                   F-13
<PAGE>

                               GT DATA CORPORATION
                          NOTES TO FINANCIAL STATEMENTS


NOTE  5  -  STOCKHOLDERS'  EQUITY  -  (continued)
---------------------------------

Common  Stock  -  (continued)
-------------

In  October  2002,  a related party note holder converted $20,000 of its $40,000
note  payable into the Company's common stock at a conversion price of $0.40 per
share (estimated by the Company to be the fair market value based on the closing
bid price on the date of conversion). Per the terms of the conversion agreement,
the  Company  issued  50,000  shares  of  its  common  stock.

In  November  2002,  a  service provider converted $115,000 of accrued fees into
287,500  common  shares  of  the  Company  at  $0.40  per  share  (see  Note 3).

In  December  2002,  a  service  provider converted $35,000 of accrued fees into
58,333  common  shares  of  the  Company  at  $0.60  per  share  (see  Note  3).

During  the year ended December 31, 2002, the Company issued 1,037,500 shares of
restricted  common stock in connection with the conversion of convertible notes.

Through  the  PPM,  the  Company  has  sold 86,250 shares of its common stock in
November  and December 2002 at an exercise price of $0.40 per share for proceeds
of  $34,500.

During  the  year  ended  December  31,  2002, the Company issued to a finder of
convertible  debt,  124,500  shares of restricted common stock valued at $49,800
(estimated based on the market price on the date of grant). The Company recorded
the  amount  as  interest  expense in the accompanying consolidated statement of
operations.

During the year ended December 31, 2003, the Company did not issue any shares of
common  stock.

Stock  Options - In February 2000, the Company's Board of Directors and majority
shareholders approved and adopted the GT Data Corporation 2000 Stock Option Plan
("the  2000  plan"). As amended, a total of 3,333,333 shares of common stock are
reserved  for  issuance  under the 2000 plan. The exercise price for each option
shall  be  equal to 100% to 110% of the fair market value of the common stock on
the date of grant, as defined. The 2000 plan shall terminate ten years after its
adoption  by  the  Board  of  Directors  and  may  be terminated by the Board of
Directors  on  any  earlier  date,  as  defined.

In  March  2001,  the  Company's  Board  of  Directors and majority shareholders
approved  and  adopted the GT Data Corporation 2001 Stock Option Plan ("the 2001
plan").  A  total of 45,000,000 shares of common stock are reserved for issuance
under  the  2001  plan. The exercise price for each option shall be no less than
100%  to 110% of the fair market value of the common stock on the date of grant,
as  defined.  The  2001 plan shall terminate ten years after its adoption by the
Board  of  Directors  and  may  be  terminated  by the Board of Directors on any
earlier  date,  as  defined.

During  the year ended December 31, 2002, the Company issued options pursuant to
the  2001  plan purchase 33,333 shares of the Company's common stock at exercise
prices  ranging  from  $2.00  to $4.00, including the options to purchase 32,500
shares of common stock issued to the former CEO of World Internetworks (see Note
3).

During  the  year  ended  December  31,  2003,  the  Company  issued options for
1,902,850 shares of common stock pursuant to the 2001 plan at an exercise prices

ranging  from  $0.20  to  $0.40.

                                     F-14
<PAGE>

                               GT DATA CORPORATION
                          NOTES TO FINANCIAL STATEMENTS


NOTE  5  -  STOCKHOLDERS'  EQUITY  -  (continued)
---------------------------------

Stock  Options  -  (continued)
--------------

The  following is a status of the stock options outstanding at December 31, 2003
and  the  changes  during  the  two  years  then  ended:
<TABLE>
<CAPTION>
                                                      Year  Ended  December  31,
                                     ------------------------------------------------------
                                                2003                        2002
                                     --------------------------  --------------------------
                                                     Weighted                    Weighted
                                                      Average                     Average
                                        Options        Price        Options        Price
                                     ------------  ------------  ------------  ------------
<S>                                  <C>           <C>           <C>           <C>

Outstanding, beginning of year            172,667  $       3.71       186,834  $       3.60
    Granted                             1,902,850          0.37        33,333          2.00
    Exercised                            (300,000)         0.20       (32,500)         2.00
    Cancelled/Forfeited                (1,125,517)         0.91       (15,000)         2.60
                                     ------------  ------------  ------------  ------------

Outstanding, end of year                  650,000  $       0.40       172,667  $       3.71
                                     ============  ============  ============  ============

Exercisable, end of year                  650,000  $       0.40       100,785  $       4.58
                                     ============  ============  ============  ============

Weighted average fair
    value of options granted                       $       0.15                $       2.02
                                                   ============                ============
</TABLE>



650,000  of  the  outstanding  options at December 31, 2003 have exercise prices
$0.40  per  share  average remaining contractual life of 9 years. All 650,000 of
these  options  are  exercisable  at  December  31,  2003.

Had  compensation  costs  for  the  Company's  2003  and 2002 options granted to
employees been determined under SFAS 123, the minimum value of each option would
have  been estimated using the Black-Scholes option pricing model on the date of
grant  using  the  following  assumptions:  (i)  no dividend yield, (ii) average
volatility  ranging from 366% to 470%, (iii) weighted average risk free interest
rate  of  approximately  4%  and  (iv)  average expected useful life of 3 years.

Warrants  -  From  time to time, the Company issues warrants pursuant to various
consulting agreements.  There were no warrants granted during fiscal years ended
2003  and  2002.

                                     F-15
<PAGE>

                               GT DATA CORPORATION
                          NOTES TO FINANCIAL STATEMENTS


NOTE  5  -  STOCKHOLDERS'  EQUITY  -  (continued)
---------------------------------

Warrants  -  (continued)
--------

The  following  represents a summary of warrants outstanding for the years ended
December  31,  2003  and  2002:
<TABLE>
<CAPTION>




                                                       Year  Ended  December  31,
                                   ------------------------------------------------------------
2003 2002
                                   -----------------------------  -----------------------------
                                                      Weighted                       Weighted
                                                       Average                        Average
                                      Warrants         Price         Warrants         Price
                                    -------------  --------------  -------------  -------------
<S>                                 <c>            <c>             <c>            <c>
                                          20,000   $        5.00        149,244   $      26.80
Outstanding, beginning of year
   Granted                                     -               -              -              -
   Exercised                                   -               -              -              -
   Cancelled/Forfeited                         -            5.00       (129,244)         30.00
                                    -------------  --------------  -------------  -------------

Outstanding, end of year                  20,000   $           -         20,000   $       5.00
                                    =============  ==============  =============  =============

Exercisable, end of year                  20,000   $           -         20,000   $       5.00
                                    =============  ==============  =============  =============

Weighted average fair
   value of warrants granted                                                      $       4.80
                                                                                  =============
</TABLE>



All  of  the warrants outstanding at December 31, 2003 have an exercise price of


$5.00  per share and a weighted average remaining contractual life of 2.5 years.
All  of  the  warrants  are  exercisable  at  December  31,  2003.

NOTE  6  -  SUBSEQUENT  EVENTS
------------------------------

In  January  2004, the Company issued 200,000 shares of its common stock  to its
President  as a result of options that were exercised.  The options were granted
as a result of options previously granted and exercised in 2003 with an exercise
price  of  $0.20.  The  Company had elected to re-price those previously granted
and  exercised  options  from  $0.20  to  $0.10 which resulted in the additional
issuance  of  options  for  200,000  shares of common stock.  The re-pricing and
additional  issuance  of  such  options  will result in an expense to Company of
approximately  $18,000  which  will  be  reflected  in  2004.

In  March  2004,  the Company issued 1,390,000 shares of its common stock to its
President  for  payment  toward  a  notes  payable  totaling  $139,000.

In  March  2004,  the  Company  issued 2,540,000 shares of its common stock to a
stockholder  for  payment  toward  a  note  payable  totaling  $254,000.

In  March  2004,  the  Company  issued  200,000  shares of its common stock to a
stockholder  as  a  result  of  options  that  were exercised.  The options were
granted  as a result of options previously granted and exercised in 2003 with an
exercise  price  of $0.20.  The Company had elected to re-price those previously
granted  and  exercised  options  from  $0.20  to  $0.10  which  resulted in the
additional  issuance  of  options  for  200,000  shares  of  common  stock.  The
re-pricing  and additional issuance of such options will result in an expense to
Company  of  approximately  $18,000  which  will  be  reflected  in  2004.

In  March  2004,  the  Company  issued 200,000 shares of its common stock to its
President  in  error.  The  Company  is  seeking to have these shares cancelled.

                                     F-16
<PAGE>


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

By  letter  dated  January  12,  2004, Squar, Milner, Reehl & Williamson, LLP of
Newport  Beach,  California ("Squar Milner"), informed the Registrant that Squar
Milner  had resigned as the accountant for the Registant.  Squar Milner had been
serving  as  the  independent  accountant  for  the  Registrant  engaged  as the
principal accountant to audit the Registrant's financial statements.  The report
of  Squar  Milner  dated  February  20,  2003,  with respect to its audit of the
consolidated  balance  sheet  of the Registrant as of December 31, 2002, and the
related  consolidated  statements  of operations, stockholders' deficit and cash
flows  for  each  of  the  years  in the two-year period then ended, stated that
certain  factors  listed  in  the  report  raised  substantial  doubt  about the
Registrant's  ability  to  continue as a going concern.  Otherwise, no report of
Squar Milner with respect to any financial statement of the Registrant contained
an  adverse  opinion or a disclaimer of opinion, or was qualified or modified as
to  uncertainty, audit scope, or accounting principles.  Furthermore, during the
Registrant's  two  most recent fiscal years and, without limitation, the interim
period  from  December  31,  2002,  the  date  of  the  last  audited  financial
statements,  to  January 12, 2004, the date of resignation, Squar Milner and the
Registrant have not had any disagreements on any matter of accounting principles
or  practices,  financial  statement disclosure, or auditing scope or procedure.

During  the  Registrant's  two most recent fiscal years and, without limitation,
the  interim  period  from  December  31,  2002,  the  date  of the last audited
financial statements, to January 12, 2004, the date of resignation, Squar Milner
has  not:
-     Advised  the  Registrant  that  the  internal  controls  necessary for the
Registrant  to  develop  reliable  financial  statements  do  not  exist;
-     Advised  the  Registrant  that  information  has  come  to  Squar Milner's
attention  that  has  led  it  to  no  longer  be  able  to rely on management's
representations,  or  that  has  made  it  unwilling  to  be associated with the
financial  statements  prepared  by  management;
-     Advised  the  Registrant  of the need to expand significantly the scope of
its  audit,  or that information has come to Squar Milner's attention during the
time  period  to which this paragraph applies, that if further investigated may;
(i) materially impact the fairness or reliability of either: a previously issued
audit report or the underlying financial statements; or the financial statements
issued  or  to be issued covering the fiscal period(s) subsequent to the date of
the  most  recent  financial  statements  covered  by an audit report (including
information  that  may  prevent it from rendering an unqualified audit report on
those  financial  statements, or (ii) cause Squar Milner to be unwilling to rely
on management's representations or be associated with the Registrant's financial
statements;  and  due  to  Squar  Milner's  resignation  (due  to  audit  scope
limitations  or  otherwise) or for any other reason, expanded the scope of Squar
Milner's  audit  or  conduct  such  further  investigation;  or

                                10
<PAGE>


-     Advised  the  Registrant  that  information  has  come  to  Squar Milner's
attention  that it has concluded materially immaterially impacts the fairness or
reliability  of  either  (i)  a previously issued audit report or the underlying
financial  statements,  or  (ii) the financial statements issued or to be issued
convering  the  fiscal  period(s)  subsequent  to  the  date  of the most recent
financial  statements  covered  by  an audit report (including information that,
unless  resolved to Squar Milner's satisfaction, would prevent it from rendering
an  unqualified  audit  report  on those financial statements); and due to Squar
Milner's resignation or for any other reason, the issue has not been resolved to
Squar  Milner's  satisfaction  prior  to  its  resignation.

On March 5, 2004, the Registrant engaged De Joya & Company (new accountant) of
Las Vegas, Nevada, as its new independent accountant for the Registrant to audit
the Registrant's financial  statements  beginning  with the fiscal  year  ending
December 31, 2003. During  the Registrant's two most recent fiscal years and any
Subsequent  interim  periods  prior  to engaging the new accountant, neither the
Registrant  nor  any one on  the  Registrant's  behalf  consulted  with  the new
accountant on any matters specified in Item 304 (a) (2) of Regulation S-B.

ITEM  8A:  CONTROLS  AND  PROCEDURES

As  required  by  Rule  13a-14  under  the  Securities Exchange Act of 1934 (the
"Exchange Act"), I carried out  an evaluation of the effectiveness of the design
and operation of our disclosure controls and procedures within the 90 days prior
to  the  filing  date of this report.  This evaluation was carried out under the
supervision  and with the participation of our Chief Executive Officer and Chief
Financial  Officer.  Based upon that evaluation, our Chief Executive Officer and
Chief  Financial  Officer  concluded that our disclosure controls and procedures
are  effective in timely alerting management to material information relating to
us  which  is  required  to be included in our periodic SEC filings.  There have
been  no  significant  changes in our internal controls or in other factors that
could  significantly  affect internal controls subsequent to the date I  carried
out  our  evaluation.

Disclosure  controls  and  procedures are controls and other procedures that are
designed  to  ensure that information required to be disclosed our reports filed
or  submitted  under  the  Exchange  Act  is recorded, processed, summarized and
reported,  within  the  time  periods  specified  in the Securities and Exchange
Commission's  rules  and  forms.  Disclosure  controls  and  procedures include,
without  limitation, controls and procedures designed to ensure that information
required  to  be  disclosed  in  our  reports  filed  under  the Exchange Act is
accumulated  and  communicated  to  management,  including  our  Chief Executive
Officer  and  Chief  Financial  Officer,  to  allow  timely  decisions regarding
required  disclosure.
                                  11
<PAGE>

                                    PART III

ITEM  9.  DIRECTORS  AND  EXECUTIVE  OFFICERS  OF  THE  REGISTRANT

The  following table sets forth the names, ages, and  positions with the Company
for  each  of  the  directors  and  officers  of  the  Company.

Name                        Age        Position (1)              Since

Robert Genesi                66        President, CEO, CFO     March 2001
                                       Secretary, Treasurer
                                       Director

Don Hwang                    58        Director                August 2003

(1)     All  executive  officers  are elected by the Board and hold office until
         the next Annual Meeting of shareholders  and until their successors are
         elected  and  agree  to  serve.

ROBERT  GENESI

Mr.  Genesi  has  extensive  experience  with  start-up companies and turnaround
situations  in  the technology sector, including the storage industry sector. He
has  in excess of 25 years of operating experience in senior and corporate level
positions with a variety of major technology firms.  Prior to co-founding GTData
Corporation,  Mr.  Genesi  was President and CEO of IData Corporation, a company
that  develops  linear  storage  products.  Mr.  Genesi was President and COO or
Read-Rite  Corporation from 1987 to 1993, President and CEO of Rexon Corporation
from  1994  to  1996, and President and CEO of DAS Devices from 1997 to 1998. He
has  been  involved  in  many  different  areas  during  his  career,  including
production,  finance, marketing, and human resources. Mr.  Genesi is an engineer
by  training.

DON  HWANG

Mr.  Hwang is a business man by profession with many years experience in various
management positions.  During the past five years he has been retired from daily
business  employment  and  has  pursued  the  investment of his personal assets.

SECTION  16(A)  BENEFICIAL  OWNERSHIP  REPORTING  COMPLIANCE

The  Company  does  not  have  affiliated persons required to file reports under
Section  16(a)  of  the  Exchange  Act.

                                     12
<PAGE>

ITEM  10.  EXECUTIVE  COMPENSATION

The  following  table  sets forth certain information as to our CEO and Mr. John
Genesi  who  served  as  our  CFO  during  a  portion  of  2003.

                          ANNUAL COMPENSATION TABLE
               ----------------------------------------------------------------
               Annual  Compensation                    Long  Term  Compensation
               -------------------------------------   ------------------------<TABLE>
<CAPTION>
<S>     <C>        <C>     <C>       <C>      <C>          <C>         <C>        <C>          <C>
                                              Other
                                              Annual       Restricted                          All Other
                   Fiscal                     Compen-      Stock       Options/   LTIP         Compen-
Name .  Title      Year    Salary    Bonus    sation       Awarded     SARs (#)   payouts ($)  sation
------  ---------  ------  --------  -------  -----------  ----------  ---------  -----------  ---------
                     2003
Robert  CEO          2002  $105,000        0  $12,000 (1)           0          0            0          0
Genesi  CFO          2001  $130,000        0  $60,437 (1)           0          0            0          0
        Director           $206,000        0  $81,965 (1)           0          0            0          0
--------------------------------------------------------------------------------------------------------
                     2003
John                 2002  $102,000        0           0            0          0            0          0
Genesi               2001  $114,340  $ 4,500  $12,000 (3)           0          0            0          0
        (2)                $104,625  $21,500  $11,507 (3)           0          0            0          0
</TABLE>




(1)  Includes  housing  and  car  allowance.

(2)   John Genesi served as the CFO and as a director of the Company during 2003
but  resigned  his positions prior to December 31, 2003.  Accordingly he was not
an  officer  or  director of the Company at the closing of the fiscal year ended
December  31,  2003.

(3)  Includes  car  allowance.

ITEM  11.  SECURITY  OWNERSHIP  OF  CERTAIN  BENEFICIAL  OWNERS  AND  MANAGEMENT

The  following  table  provides  the beneficial ownership of our common stock by
each  person  known  by  us to beneficially own more than 5% of our common stock
outstanding  as of May 12, 2004 and by the officers and directors of the Company
as  a  group.

<TABLE>
<CAPTION>
<S>                             <C>             <C>
                                Common          Percent of
Name and Address . . . . . . .  Shares          Class

First Wave Inc . . . . . . . .  937,500         11.6%
87 Front Street East
4th Floor, Suite 400
Toronto, Ontario  M5E-1B8

Robert Genesi. . . . . . . . .2,222,000         27.6%
7045 Wild Wave Drive
Las Vegas, Nevada  89131

Don Hwang. . . . . . . . . . .   25,000          0.3%
7045 Wild Wave Drive
Las Vegas, Nevada  89131

Anthony Giraudo. . . . . . . .2,895,000         36.0%
10616 Eagle Nest Street
Las Vegas, Nevada  89141

All Executive officers and
Directors as a Group
(two)                         2,247,000         27.9%
</TABLE>



ITEM  12.  CERTAIN  RELATIONSHIPS  AND  RELATED  TRANSACTIONS

None

                                     PART IV

ITEM  13.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

(a)  Reports  on  Form  8-K

The Company filed no current reports on Form 8-K during the fiscal quarter ended
December  31,  2003.

(b)  Exhibits

16.1     Letter  re  change  in  certifying  accountant  (1)
31.1     Certification of CEO and CFO pursuant to Securities Exchange Act rules
         13a-15 and  15d-15(c)  as  adopted pursuant to section 302 of the
         Sarbanes-Oxley act of 2002.
32.1 Certification of CEO and CFO pursuant  to 18 U.S.C. section 1350, as
Adopted pursuant  to  section  906  of  the  Sarbanes-Oxley  act  of
2002.

(1)     Previously  filed  as  an  exhibit  to  Form  8-K  on  March  9,  2004.


ITEM  14.  PRINCIPAL  ACCOUNTANT  FEES  AND  SERVICES

AUDIT  FEES

The  aggregate fees billed by our auditors for professional services rendered in
connection with the audit of our annual financial statements for the fiscal year
ended  December  31,  2002  was  $30,000.00.  The  aggregate  fees billed by our
auditors  for professional services rendered in connection with the audit of our
annual  financial  statements  for  the  fiscal year ended December 31, 2003 was
$10,500.00.

AUDIT-RELATED  FEES

Our auditors did not bill any additional fees for assurance and related services
that  are  reasonably  related  to the performance of the audit or review of our
financial  statements.

TAX  FEES

The  aggregate  fees  billed  by  our auditors for professional services for tax
compliance,  tax  advice,  and  tax planning were $0 and $0 for the fiscal years
ended  December  31,  2002  and  2003.

ALL  OTHER  FEES

The aggregate fees billed by our auditors for all other non-audit services, such
as  attending  meetings  and  other  miscellaneous financial consulting, for the
fiscal  years  ended  December  31,  2002  and 2003 were $0 and $0 respectively.

<PAGE>

                               SIGNATURES


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


GTDATA  CORPORATION


By:  /s/ Robert Genesi
     -------------------------------
     Robert  Genesi,  CEO
     Date:     May  14,  2004


In  accordance  with  the  Securities  Exchange Act, this report has been signed

below by the following persons on behalf of the registrant and in the capacities
and  on  the  dates  indicated.



By:  /s/ Robert Genesi
     -------------------------------------
     Robert  Genesi
     Principal  Executive  Officer
     Principal  Financial  Officer
     Principal  Accounting  Officer
     Director
     Date:     May  14,  2004

By:  /s/ Don Hwang
     -------------------------------------
     Don  Hwang
     Director
     Date:    May  14,  2004