UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549

FORM 10-KSB

Annual Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

For the fiscal year ended May 31, 2004
Commission File No. 333-61801

JURAK CORPORATION WORLD WIDE, INC.
(Exact name of registrant as specified in its charter)

|                                  | 
|--------------------------------- | 
|Minnesota                         | 
|(State or other jurisdiction      | 
|of Incorporation or Organization) | 

1181 Grier Drive, Suite C
Las Vegas, Nevada 89119
(Address of principal executive office) (Zip Code)

Registrants telephone number: (702) 914-9688

Securities registered pursuant to Section 12(b) of the Act:
3,000,000 Shares Of Common Stock

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

Common Stock, (no par value)
(Title of Class)

Indicate by check mark whether the
Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter
period that the Registrant was required to file such reports), and (2) has been subject
to such filing requirements for the past 90 days. Yes_X_ NO___

The aggregate market value of the
voting stock held by non-affiliates of the Registrant on May 31, 2004, based on the
average bid and asked prices of Common Stock in the over-the-counter market on that date
was $14,741,371.

31,267,581 shares of Registrants
Common Stock, no par value were outstanding on May 31, 2004, prior to the effectiveness
of the latest practicable date.



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CONTENTS

|         |  |          | Page
|-------- |  | -------- | ----
|PART I   |  |          |     
|         |  | Item 1.  |     
|        
|         |  | Item 2.  |     
|        
|         |  | Item 3.  |     
|        
|         |  | Item 4.  |     
|         |  |          |     
|        
|PART II  | 
|         |  | Item 5.  |     
|         |  |          |     
|         |  |          |     
|        
|         |  | Item 6.  |     
|         |  |          |     
|         |  |          |     
|        
|         |  | Item 7.  |     
|        
|         |  | Item 8.  |     
|         |  |          |     
|        
|         |  | Item 8A. |     
|        
|PART III | 
|         |  | Item 9.  |     
|         |  |          |     
|        
|         |  | Item 10. |     
|        
|         |  | Item 11. |     
|         |  |          |     
|        
|         |  | Item 12. |     
|         |  |          |     
|        
|PART IV  | 
|         |  | Item 13. |     
|        
|         |  | Item 14. |     

2

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PART I

Item 1.  DESCRIPTION OF BUSINESS

The
Jurak Classic Whole Body Tonic was first developed in 1945 by Carl Jurak, the father of
the founder of the Company. The tonic is a blend of medicinal herbs, and other
ingredients. The corporation was formed in Minnesota on November 1, 1997.

There
are 30 separate ingredients to the tonic, all of them readily available from suppliers in
Canada, the United States and France. The Jurak Classic Whole Body Tonic is supplied in
bottles of one fluid oz and 42 fluid oz. The one fluid oz bottles come in boxes of 35 bottles.

The
tonic is a herbal supplement. The ingredients of the tonic include chamomile, dandelion,
licorice, passion flower, peppermint, saw palmetto, and celery seed

The
Company has made arrangements with a supplier, Confab Laboratories, Inc., to blend the raw
materials and package them in the mono dose package. This supplier has the capacity to
manufacture 180 million mono dose packages a year. There are a number of other suppliers,
but the plan of the Company is to establish a long term relationship with the supplier to
establish cost stability and first class service.

The
regulatory authority over dietary supplements is divided between the Food and Drug
Administration (FDA) and the Federal Trade Commission (FTC). The FDA has authority to
review the ingredients and safety, define misbranding, and punish adulteration. The FTC
regulates claims made in advertising and promotional materials. The Company is a multi
level distributor and does not advertise nor issue promotional materials, so its
activities are not regulated by the FTC, only by the FDA.

The
Congress of the United States established standards governing dietary supplements when it
enacted the Dietary Supplement Health and Education Act (DSHEA) in 1994. The focus of
DSHEA has been to limit the authority of the FDA over dietary supplements. Now the DSHEA
regulations, effective March 23, 1999, require certain additional labeling, all of which
the tonic product contains. The display panel for the Company states: Jurak Classic
Whole Body Tonic Dietary Supplement, Corrective and Digestive Herbal and
Mineral Supplement. It adds This statement has not been evaluated by the Food
and Drug Administration. This product is not intended to cure, mitigate, treat or prevent
any disease. The labeling also includes nutritional labeling, including the Latin
name and plant part.

3

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The
Company filed a DSHEA required notice with the FDA that it was going to market the
product, and the FDA has not objected. Management of the Company feels that it is in full
compliance with the regulations of the FDA and the FTC.

The
Company has worked with consultants to make sure that the labeling of the product is
correct and that the labeling is attractive. The cost of compliance is the cost of the
consultants. The Company has had the ingredients approved in the United States, and the
manufacturer is certified as a manufacturer in Canada.

Management
of the Company has resolved to market the products through network marketing in the United
States and throughout the rest of the world. Network marketing consists of distributors
several layers deep that distribute product for a specific company. Profits come from
commissions on direct sales and money earned on sales made by the network of downline
distributors. Sales are made by the distributors to individuals, there are no sales to
retailers.

The
Company competes in the dietary supplement business, but there are few companies selling
products similar to the product of the Company. One slightly similar product is Matol, for
which Mr. Jurak worked for several years. Mr. Jurak has no present connection with Matol
except as a shareholder. He is the holder of 2,000,000 preferred shares, which is one half
of the preferred shares. His preferred shares issued, however, have no voting rights.
Matol is based upon, but is a variation of, one of the many formulas of Carl Jurak.
Matols product is sold in the United States as KM, which is sold as a Potassium
Mineral Supplement. There is at least one other product that is very similar to Matol,
BOTANOL, which is sold as an improvement to KM. The formula used for the Jurak Classic
Whole Body Tonic is different from those two in that it contains a greater quantity of
herbs and minerals, and the herbs in them are not all tonic herbs, as is the case with the
product of the Company, are not bi-directional and would not act to balance the systems in
the body. The Company feels that any litigation from either of the other two products is
remote. The Company has no patents and has applied for trademarks for its products and
logos.

The
Jurak Classic Whole Body Tonic is the only product of the Company at this time. However
Carl Jurak developed several formulas, and some of them were manufactured and sold many
years ago. There is a variety of organ specific herbal tablets and liquids as well as
salves, ointments and liniments. The cost to develop them is minimal because the cost will
be to prepare pilot batches, test them, and determine whether the products
ingredients and proposed labeling comply with FDA requirements.

4

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The
Company is marketing the Jurak Classic Whole Body Tonic through network marketing, called
the Jurak Career Plan. There are a number of steps in the Jurak Career Plan, starting with
the Independent Distributor. An Independent Distributor registers with the Company and
gets the right to sponsor other persons to purchase the product at a 30% discount from the
retail price. There are points awarded for personal consumption or sale of products. One
may become a Qualified Distributor when he has 160 points monthly.

In
addition to the money made by the distributor on sales the Company intends to issue shares
of its stock to its distributors as an added incentive, with the agreement that the shares
of stock are restricted from sale for three years from the time of being earned. A
distributor who purchases enough product for 160 points, sponsors three persons who each
purchase enough product for 160 points and who in turn sponsor three additional persons
who each purchase enough product for 160 points will receive 10 certificates valued at
$5.00 each. The aggregate value for certificates earned will be redeemable for shares at
the current market price at the time the shares were earned.

Network
marketing is known for persons switching to another company with a better idea. The
strategy of including the Companys distributors as shareholders is to keep the
distributors close to the Company for a long time, and build into the future.

Also
with a consultant the Company has developed custom designed software to interface with the
sales and bonus system. The software also processes currencies of other countries so that
when there is expansion into other countries the system will be able to handle the volume.

Through
Eagle Payment Solutions, the Company has obtained merchant credit card processing
capabilities with Moneris Solutions.

The
Company has a license royalty agreement, with an entity controlled by Mr. Jurak. The
agreement provides that 8% of net sales, as defined in the agreement, are paid to the
entity, to be used for charitable purposes. The amount expensed for the years ended May
31, 2004 and 2003 was $165,000 and $143,400, respectively, and these are included in
amounts payable to related party.

The
Company has nine full time employees, and one part time employee, none are represented by
a labor organization. The 10 employees do not include independent distributors.

5

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Item 2.  DESCRIPTION OF PROPERTY.

Facilities

The
Company has leases 8,500 square feet of office space in Las Vegas, Nevada for its offices
and warehouse, at a monthly rental of approximately $6,700, plus operating expenses. The
warehouse will be used to hold and distribute the Companys products. A part of the
warehouse may be used for a research and development laboratory. The Company believes its
present facilities are adequate for its current level of operation.

Item 3.  LEGAL PROCEEDINGS.

None

Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There
was an annual meeting of shareholders held on July 18, 2004. At the meeting Anthony Jurak
and Roger Theriault were elected to the Board of Directors and Virchow, Krause &
Company, LLP were retained as independent auditors.

PART II

Item 5.  MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

The
Companys common stock has been traded since February 16, 2000 on the OTC Bulletin
Board, before that time there was no activity. As of May 31, 2004 the following brokerage
firms were making a market in the Companys common stock: Jill Thompson Magid &
Co., Sharpe Capital, Inc., and Knight Securities, Inc.

The
following table sets forth for the periods indicated the range of high and low closing bid
quotations per share as reported by the over-the-counter market. These quotations
represent inter-dealer prices, without retail markups, markdowns or commissions and may
not represent actual transactions.

6

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|                 | Price per Share
|---------------- | ---------------
|                 |                
|                
|                 |                
|                 |                
|Fiscal year 2003
|                 |                
|                 |                
|                
|                 |                
|                 |                
|                
|                 |                
|                 |                
|                
|                 |                
|                 |                
|                
|                
|Fiscal year 2004 |                
|                 |                
|                 |                
|                
|                 |                
|                 |                
|                
|                 |                
|                 |                
|                
|                 |                
|                 |                

There
have never been any dividends, cash or otherwise, paid on the common shares of the
Company. Stockholders of record on May 31, 2004 totaled 50.

During
the year ended May 31, 2004, we sold 195,000 shares of Common Stock at $1.00 per share to
one accredited investor. For each share purchased, exercisable at $1.25 per share for two
years from the date of purchase. For this issuance, we relied on Rule 506 of Regulation D
for an exemption from registration requirements.

Item 6.  MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

# Results of Operations

The
Company had revenue from sales of its products at May 31, 2003 of $2,583,355, and in the
year ended May 31, 2004 sales were $2,691,915. During the same period the Company expended
general, administrative and operating expenses of $2,519,600 in 2003, compared to expenses
of $2,312,192 in 2004. There was a net loss of $558,916 in 2003, compared to a net loss of
$409,950 in 2004. The general, administrative and pre-operating expenses included
consulting expenses for Food and Drug Administration advice, computer consultants,
hardware and software, raw materials, travel, office, telephone expenses, legal fees, rent
and wages.

7

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# Liquidity and Capital Resources

The
Company has financed its operations with equity capital, and raised a total of $798,817.
In addition a stockholder has advanced $1,324,116 to the Company. The business the Company
is engaged in is not capital intensive, and the Company hopes to be able to finance its
future operations from the cash flow from sales of the products of the Company. The
business of the Company is not capital intensive because it does not need to purchase any
machinery, the costs of the raw material is negligible, and, because all sales will be by
check or credit card, there are no significant accounts receivable.

During
the year ended May 31, 2004 the Company started a private placement of 1,000,000 of its
shares at a price of $1.00 per share. At May 31, 2004, 195,000 of the shares had been sold
and issued. The private placement includes a warrant for each share purchased, exercisable
at $1.25 per share for two years from the date of purchase.

# Product Research and
Development

The
Company does not anticipate conducting any product research and development during the
next 12 months that would require significant capital.

# Purchases or Sale of Plant and Equipment

The
Company anticipates that it will not need any purchases of plant or equipment in the near
future.

# RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

See
note 1 to the financial statements.

# SIGNIFICANT ACCOUNTING POLICIES

Financial
Reporting Release No. 60, which was recently released by the Securities and Exchange
commission, requires all companies to include a discussion of critical accounting policies
or methods used in the preparation of financial statements. Note 1 of the Notes to the
Financial Statements includes a summary of the significant accounting policies and methods
used in the preparation of our Financial Statements. The following is a brief discussion
of the more significant accounting policies and methods used by the company. In addition,
Financial Reporting Release No. 61 was recently released by the SEC to require all
companies to include a discussion to address, among other things, liquidity, off-balance
sheet arrangements, contractual obligations and commercial commitments.

8

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General

The
preparation of financial statements in conformity with U.S. generally accepted accounting
principles requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and the disclosure of contingent assets and liabilities
at the dates of the financial statements and reported amounts of revenues and expenses
during the reporting periods. The most significant estimates and assumptions relate to the
valuation of inventory and the liability for the stock bonus plan. Actual amounts could
differ from these estimates.

Inventory Valuation

As
noted in Note 1 of the Notes to the Financial Statements, inventories consist primarily of
raw materials, finished goods and supplies and are valued at the lower of cost or market
(first-in, first-out method).

Stock Bonus Plan

As
noted in Note 8 of the Notes to the Financial Statements, distributors are awarded points
based on sales which will be redeemable for shares of the Company. The amount of the
liability for this plan at May 31, 2004 is approximately $217,321.

Item 7.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

The
financial statements are attached following Item 14.

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

None

Item 8A.  CONTROLS AND PROCEDURES.

It
is the responsibility of the chief executive officer and chief financial officer to ensure
the company maintains disclosure controls and procedures designed to provide reasonable
assurance that material information, both financial and non-financial, and other
information required under the securities laws to be disclosed is identified and
communicated to senior management on a timely basis. The companys disclosure
controls and procedures include mandatory communication of material events, automated
accounting processing and reporting, management review of monthly and quarterly results,
periodic business reviews, and an established system of internal controls.

9

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The
chief executive officer and chief financial officer evaluated the Companys
disclosure controls and procedures as of the end of the fiscal year, and have concluded
the controls and procedures currently in place are adequate to ensure material information
and other information requiring disclosure is identified and communicated on a timely
basis.

Additionally,
there have been no material changes to the Companys system of internal controls or
changes in other factors affecting the operation of the internal controls in the year
since Jurak Corporation World Wide management last evaluated the system of internal
controls in conjunction with the preparation of financial statements for the year ended
May 31, 2004.

PART III

Item 9.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT.

The
executive officers and directors of the Company, with a brief description, are as follows:

|Name               | Age | Position
|------------------ | --- | --------
|Anthony Carl Jurak |     | 66      
|                   |    
|Roger Theriault    |     | 58      
|                   |    
|Maria Jose Guedes  |     | 35      
|                   |     |         

Anthony
Carl Jurak, Mr. Jurak is the Chairman, Secretary, and a Director of the Company. Mr.
Jurak has been Co-Chairman and Secretary Treasurer for more than the past 5 years of Matol
Partners Corporation until February, 1997, and since has worked as a founder of the
Company. While with Matol he was in charge of finances for six years, and then committed
his time to marketing the products by traveling to sales and marketing meetings.

10

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Roger
Theriault, Mr. Theriault is the President and a Director of the Company. Mr. Theriault
was the Director of National Sales for Shaklee Canada from 1979 to 1984. During that time
he was mostly involved in marketing of the Companys products, he was responsible for
three regional sales managers and more than 100,000 distributors. He was the founder of
Nova Sante Pacific International where he worked form 1989 to 1994. Since 1995 he has been
a consultant to Triple Gold (Ecuador), Radical Advance Technologies and CiDem (France).

Maria
Jose Guedes, Ms Guedes is Vice President of Operations and Assistant
Secretary-Treasurer. Ms Guedes is a graduate of Notre Dame College (Canada) with a degree
in business. She has been employed by the Company since 1997.

The
directors of the Company are elected annually by the shareholders for a term of one year
or until their successors are elected and qualified. The officers serve at the pleasure of
the Board of Directors.         
The shareholders and directors are evaluating the expansion needs of the Board of Directors
and related audit committee including adding a financial expert. The audit committee does not currently have
a financial expert.

Item 10.  EXECUTIVE COMPENSATION.

There
are no officers or directors that received compensation in excess of $100,000 or more
during the last year. Management has taken no remuneration to date, except as noted in
Certain Transactions. There is a liability to Mrs. Guedes and her husband of $80,840 at
May 31, 2004 and $63,665 at May 31, 2003 for compensation that bears no interest.

Item 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

There
are presently 31,267,581 shares of the Companys common shares outstanding. The
following table sets forth the information as to the ownership of each person who, as of
this date, owns of record, or is known by the Company to own beneficially, more than five
per cent of the Companys common stock, and the officers and directors of the
Company.

|Name                       | Shares ofCommon Stock | Percentage ofOwnership
|-------------------------- | --------------------- | ----------------------
|                          
|Anthony Carl Jurak (1)     |                       | 18,440,000            
|                           |                      
|Roger Theriault            |                       | 3,000,000             
|                           |                      
|All officers and directors |                       | 21,440,000            
|as a group                 |                      

(1)    Mr. Juraks shares are in the name of Jurak Holdings, Ltd.

11

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Item 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

Beginning
in September, 1997, before the Company was incorporated, the founder of the Company,
Anthony Carl Jurak, began paying expenses for the start of the Company. The expenses paid
were done by the personal credit cards of Mr. Jurak. He has advanced to the Company or
requested reimbursement for $1,324,116 and $1,440,066 as of May 31, 2004 and 2003,
respectively. Interest on the advances is at 8% and a total of $96,143 and $103,097 was
charged to operations for the years ended May 31, 2004 and 2003, respectively.

The
Company expensed $136,212 to Jurak Holdings, Ltd. in 2004 for consulting fees, in lieu of
compensation to Mr. Jurak, Mr. Theriault, and a computer consultant. There is a liability
of $134,872 at May 31, 2004, and $141,859 at May 31, 2003 for Mr. Theriault, at no
interest.

PART IV

Item 13.  EXHIBITS AND REPORTS ON FORM 8-K.

| | (a) |  | Exhibits
| | --- |  | --------

| |  | ExhibitNo. |  | 
| |  | ---------- |  | 

| |  | 31.1 |  | Certification
of Anthony Jurak pursuant to Section 302 of the Sarbanes-Oxley Act and Rules 13a-14(a)
and 15d-14(a) of the Exchange Act.
| |  | ---- |  | ---------------------------------------------------------------------------------------------------------------------------------------

| |  | 32.1 |  | Certification of Anthony Jurak pursuant to Section 906 of the
Sarbanes-Oxley Act and 18 U.S.C. Section 1350.
| |  | ---- |  | ------------------------------------------------------------------------------------------------------------

All other exhibits are
omitted because they are not required or not applicable or the information is shown in the financial statements or notes thereto.

| | (b) |  | Reports
on Form 8-K
| | --- |  | -------------------

| | No
report was filed on Form 8-K during the fourth quarter ended May 31, 2004.
| | -----------------------------------------------------------------------------

Item 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES.

The
Company paid its auditor, Virchow, Krause & Company, LLP, audit and related fees of
$27,380, tax and related fees of $6,225 for a total of $33,605 in the past year.

12

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|(a) | Attached are the Financial Statements and Report of Independent Registered
                    Public Accounting Firm as of and for the years ended May 31, 2004 and May 31,
                    2003.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The
audit committee prior to filing any Form 10-QSB or 10-KSB approves the filings. In
addition, the committee meets to discuss audit plans and anticipated fees for audit and
tax work prior to the commencement of that work. All fees paid to our independent auditors
are pre-approved by the audit committee. These services may include audit services,
audit-related services, tax services and other services.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

13

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# JURAK CORPORATION
WORLD WIDE, INC.

FINANCIAL REPORT

MAY 31, 2004 AND 2003



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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders
Jurak Corporation World Wide, Inc.

We have audited the
accompanying balance sheets of Jurak Corporation World Wide, Inc., a Minnesota corporation, as of May 31, 2004 and 2003, and the
related statements of operations, stockholders deficit and cash flows for the years 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 audits.

We conducted our audits in
accordance with standards of the Public Company Accounting Oversight Board (United States). 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 audits provide a reasonable basis for our opinion.

In our opinion, the financial
statements present fairly, in all material respects, the financial position of Jurak Corporation World Wide, Inc. as of May 31,
2004 and 2003, and the results of its operations and its cash flows for the years then ended, in conformity with U.S. generally
accepted accounting principles.

The accompanying financial
statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial
statements, the Company has suffered recurring losses from operations and its total liabilities exceed its total assets. These
factors raise substantial doubt about its ability to continue as a going concern. Managements plans in regard to these
matters are also described in Note 2. The financial statements do not include any adjustments that might result from the
outcome of this uncertainty.

VIRCHOW, KRAUSE & COMPANY, LLP

Minneapolis, Minnesota
July 9, 2004



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JURAK CORPORATION WORLD WIDE, INC.

BALANCE SHEETS
May 31, 2004 and 2003

|                                                                          | 2004 |  | 2003
|------------------------------------------------------------------------- | ---- |  | ----
|ASSETS                                                                    |      |  |     
|CURRENT ASSETS:                                                           |      | 
|Cash                                                                      |      |  | $   
|Inventories                                                               |      |  |     
|Prepaid expenses                                                          |      |  |     
|                                                                          |      |  |     
|Total current assets                                                      |      |  |     
|RESTRICTED CASH                                                           |      |  |     
|DEPOSITS                                                                  |      |  |     
|OFFICE FURNISHINGS AND EQUIPMENT, less                                   
|accumulated depreciation and amortization 2004 $109,476;    2003 $100,941 |      |  |     
|                                                                          |      |  |     
|                                                                          |      |  | $   
|                                                                          |      |  |     
|LIABILITIES AND STOCKHOLDERS DEFICIT                                     |      | 
|CURRENT LIABILITIES:                                                      |      | 
|Checks issued in excess of bank balance                                   |      |  | $   
|Current portion-capital lease obligations                                 |      |  |     
|Accounts payable                                                          |      |  |     
|Accrued compensation                                                      |      |  |     
|Accrued royalties                                                         |      |  |     
|Payable to stockholder, officer                                           |      |  |     
|                                                                          |      |  |     
|Total current liabilities                                                 |      |  |     
|LONG-TERM LIABILITIES:                                                    |      | 
|Capital lease obligations, net of current portion                         |      |  |     
|                                                                          |      |  |     
|Total liabilities                                                         |      |  |     
|                                                                          |      |  |     
|STOCKHOLDERS DEFICIT:                                                    |      | 
|Convertible preferred stock, par value $.001 per share,                   |      | 
|50,000,000 shares authorized, none issued or outstanding                  |      |  |     
|Common stock, par value $.001 per share, 150,000,000 shares              
|authorized, 31,267,581 and 31,055,500 shares issued and outstanding      
|at May 31, 2004 and 2003, respectively                                    |      |  |     
|Additional paid-in capital                                                |      |  |     
|Accumulated deficit                                                       |      |  |     
|                                                                          |      |  |     
|Total stockholders' deficit                                               |      |  |     
|                                                                          |      |  |     
|                                                                          |      |  | $   
|                                                                          |      |  |     

See Notes to Financial Statements.

F-2

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JURAK CORPORATION WORLD WIDE, INC.

STATEMENTS OF OPERATIONS
Years Ended May 31, 2004 and 2003

|                                             | 2004 |  | 2003
|-------------------------------------------- | ---- |  | ----
|Sales                                        |      |  | $   
|Cost of sales                                |      |  |     
|                                             |      |  |     
|Gross profit                                 |      |  |     
|Selling, general and administrative expenses |      |  |     
|Interest expense                             |      |  |     
|Other income (expense)                       |      |  |     
|                                             |      |  |     
|Net loss                                     |      |  | $   
|                                             |      |  |     
|Basic loss per common share                  |      |  | $   
|                                             |      |  |     
|Diluted loss per common share                |      |  | $   
|                                             |      |  |     
|Weighted average outstanding common shares   |      |  |     
|                                             |      |  |     

See Notes to Financial Statements.

F-3

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JURAK CORPORATION WORLD WIDE, INC.

STATEMENTS OF STOCKHOLDERS DEFICIT
Years Ended May 31, 2004 and 2003

|                      | Common Stock |  | AdditionalPaid-InCapital |            | AccumulatedDeficit
|--------------------- | ------------ |  | ------------------------ | ---------- | ------------------
|
|Balance, May 31, 2002 |              |  |                          | 31,055,500 |                   
|Net loss              |              |  |                          |           |                   
|                      |              |  |                          |            |                   
|Balance, May 31, 2003 |              |  |                          | 31,055,500 |                   
|Stock issuance        |              |  |                          | 212,081    |                   
|Net loss              |              |  |                          |           |                   
|                      |              |  |                          |            |                   
|Balance, May 31, 2004 |              |  |                          | 31,267,581 |                   
|                      |              |  |                          |            |                   

See Notes to Financial Statements.

F-4

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JURAK CORPORATION WORLD WIDE, INC.

STATEMENTS OF CASH FLOWS
Years Ended May 31, 2004 and 2003

|                                                      | 2004 |  | 2003
|----------------------------------------------------- | ---- |  | ----
|CASH FLOWS FROM OPERATING ACTIVITIES:                 |      |  |     
|Net loss                                              |      |  | $   
|Adjustments to reconcile net loss to net cash used in |      | 
|operating activities:                                 |      | 
|Depreciation                                          |      |  |     
|Changes in operating assets and liabilities:          |      | 
|Inventories                                           |      |  |     
|Prepaid expenses                                      |      |  |     
|Deposits                                              |      |  |     
|Accounts payable                                      |      |  |     
|Accrued compensation and accrued royalties            |      |  |     
|                                                      |      |  |     
|Net cash used in operating activities                 |      |  |     
|                                                      |      |  |     
|CASH FLOWS FROM INVESTING ACTIVITIES:                 |      | 
|Purchase of office equipment                          |      |  |     
|Decrease in restricted cash                           |      |  |     
|                                                      |      |  |     
|Net cash provided by (used in) investing activities   |      |  |     
|                                                      |      |  |     
|CASH FLOWS FROM FINANCING ACTIVITIES:                 |      | 
|Checks issued in excess of bank balance               |      |  |     
|Stock issuance                                        |      |  |     
|Payments on capital lease obligations                 |      |  |     
|Change in payable to stockholder, officer             |      |  |     
|                                                      |      |  |     
|Net cash provided by financing activities             |      |  |     
|                                                      |      |  |     
|Increase (decrease) in cash                           |      |  |     
|Cash:                                                 |      | 
|Beginning                                             |      |  |     
|                                                      |      |  |     
|Ending                                                |      |  | $   
|                                                      |      |  |     
|SUPPLEMENTAL CASH FLOW DISCLOSURES                    |      | 
|Cash paid for interest                                |      |  | $   
|                                                      |      |  |     
|Equipment obtained through capital leases             |      |  | $   
|                                                      |      |  |     
|Conversion of accrued compensation to common stock    |      |  | $   
|                                                      |      |  |     

See Notes to Financial Statements.

F-5

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JURAK CORPORATION WORLD WIDE, INC.

NOTES TO FINANCIAL STATEMENTS
May 31, 2004 and 2003

|Note 1. |  | Nature of Business and Summary of Significant Accounting Policies:
|------- |  | ------------------------------------------------------------------

| | Nature of business:
| | -------------------

| | Jurak Corporation World Wide, Inc. (the Company) was incorporated
on November 3, 1997 in the State of Minnesota, is located in Las Vegas, Nevada, and markets its products throughout the U.S. and
Canada. The Company manufactures and markets dietary and herbal supplement products.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | A summary of the Companys significant accounting policies
follows:
| | -------------------------------------------------------------------

| | Cash:
| | -----

| | The Company maintains its cash in a high quality financial
institution. The balances, at times, may exceed the federally insured limits.
| | ----------------------------------------------------------------------------------------------------------------------------------------

| | Income taxes:
| | -------------

| | Deferred taxes are provided on a liability method whereby deferred
tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax
liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported
amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the
opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of the enactment.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Inventories:
| | ------------

| | Inventories are valued at the lower of cost (first-in, first-out
method) or market and consist of the following:
| | ----------------------------------------------------------------------------------------------------------------

|                            | May 31
|--------------------------- | ------
|
|Raw materials               |       
|Finished goods and supplies |       
|                            |       
|                            |       
|                            |       

| | Office furnishings and equipment:
| | ---------------------------------

| | Office furnishings and equipment are recorded at cost and
depreciated on a straight-line basis over their estimated useful life of three to seven years. Maintenance repairs and minor
renewals are expensed when incurred.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Advertising:
| | ------------

| | The Company expenses advertising costs as they are incurred.
Advertising costs were $25,105 and $9,879 for the years ended May 31, 2004 and 2003, respectively.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

F-6

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|Note 1. |  | Nature of Business and Summary of Significant Accounting Policies (Continued):
|------- |  | ------------------------------------------------------------------------------

| | Shipping and handling costs:
| | ----------------------------

| | Shipping and handling costs charged to customers have been
included in sales. Inbound freight and handling costs incurred by the Company have been included in cost of sales.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Revenue recognition:
| | --------------------

| | The Company recognizes sales when the product is shipped. The
Company ensures that the transaction complies with the seven conditions and the six considerations contained in Accounting and
Auditing Enforcement Release No. 108 of the Securities and Exchange Commission.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Carrying value of financial instruments:
| | ----------------------------------------

| | The carrying value of the Companys financial instruments
approximates fair value at May 31, 2004 and 2003. The carrying amounts for cash, accounts payable, payable to stockholder and
other accrued liabilities approximate fair value because of the short maturity of these instruments.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Estimates and assumptions:
| | --------------------------

| | The preparation of the financial statements in conformity with
U.S. generally accepted accounting principles 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
revenues and expenses during the reporting period. Actual results could differ from Company estimates.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Loss per common share:
| | ----------------------

| | Loss per share is computed based on the weighted average number of
common shares outstanding. There are no outstanding options or warrants that would be considered anti-dilutive.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Recent accounting pronouncements:
| | ---------------------------------

| | In November 2002, the Financial Accounting Standards Board (FASB)
issued FASB Interpretation No. 45, Guarantors Accounting and Disclosure Requirements for Guarantees, Including
Indirect Guarantees of Indebtedness of Others (FIN 45). FIN 45 clarifies the requirements for a guarantors accounting
for and disclosure of certain guarantees issued and outstanding. The initial recognition and initial measurement provisions of FIN
45 are applicable to guarantees issued or modified after December 31, 2002. The disclosure requirements of FIN 45 are effective
for financial statements for periods ending after December 15, 2002. The adoption of FIN 45 did not have a material effect on the
Companys financial statements.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | In December 2003, the FASB issued FASB Interpretation No. 46
(Revised December 2003), Consolidation of Variable Interest Entities, an Interpretation of ARB No. 51(FIN 46R). This
standard replaces FIN 46, Consolidation of Variable Interest Entities that was issued in January 2003. FIN 46R
modifies or clarifies various provisions of FIN 46. FIN 46R addresses the consolidation of business enterprises of variable
interest entities (VIEs), as defined by FIN 46R. FIN 46R exempts certain entities from its requirements and provides for special
effective dates for entities that have fully or partially applied FIN 46 prior to issuance of FIN 46R. Otherwise, application of
FIN 46R is required in financial statements of public entities that have interest in structures commonly referred to as special
purpose entities for periods ending after December 15, 2003. Application by the Company for all other types of VIEs is required in
financial statements for periods ending no later than the quarter ended January 31, 2005. The Company does not expect the adoption
of FIN 46R to have a material effect on the Companys financial statements.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

F-7

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|Note 1. |  | Nature of Business and Summary of Significant Accounting Policies (Continued):
|------- |  | ------------------------------------------------------------------------------

| | Reclassifications:
| | ------------------

| | Certain reclassifications have been made to the 2003 financial
statements to conform to the classifications used in 2004. Such reclassifications had no effect on net loss or stockholders
deficit.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Note 2. |  | Companys Continued Existence:
|------- |  | ------------------------------

| | The accompanying financial statements have been prepared in
conformity with U.S. generally accepted accounting principles, which contemplate continuation of the Company as a going concern.
However, the Company has sustained substantial losses and its liabilities exceed its assets. The Company intends to generate
positive cash flows from operations through increased sales utilizing the network of distributors in place, issuance of additional
stock, and obtain necessary capital through additional advances from the Companys principal stockholder. To continue
operations, the Company must raise additional capital. As noted in Note 5, the Company has initiated a private placement of common
stock and a warrant for each share purchased. However, there can be no assurance the Company will be able to obtain capital in the
private placement. The Company has no committed sources or arrangements for additional financing. The financial statements do not
include any adjustment relating to recoverability and classification of recorded assets, or the amounts and classification of
liabilities that might be necessary should the Company be unable to continue to exist. Management believes that actions presently
being taken provide the opportunity for the Company to continue as a going concern.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Note 3. |  | Capital Lease Obligations:
|------- |  | --------------------------

| | During the year, the Company entered into two capital leases for
new computer equipment, expiring through April 2007. The leases bear interest at 5% and 25%. The obligations are collateralized by
the equipment under lease. Total cost and accumulated amortization of the leased equipment was $16,868 and $1,687 at May 31, 2004.
Amortization expense on the leased assets is included with depreciation expense.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Future minimum lease payments under capital lease and the net
present value of the future minimum lease payments are as follows for the years ended May 31:
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------

|2005                                           |  |  | $ | 6,685  |  
|---------------------------------------------- |  |  | - | ------ | -
|2006                                           |  |  |   | 6,685  |  
|2007                                           |  |  |   | 4,614  |  
|                                               |  | 
|Total Future Minimum Lease Payments            |  |  |   | 17,984 |  
|Less Amount Representing Interest              |  |  |   | (2,746 | )
|                                               |  | 
|Present value of Future Minimum Lease Payments |  |  |   | 15,238 |  
|Less Current Portion                           |  |  |   | (5,156 | )
|                                               |  | 
|Long-Term Capital Lease Obligations            |  |  | $ | 10,082 |  
|                                               |  | 

|Note 4. |  | Stockholder Rights:
|------- |  | -------------------

| | The convertible preferred stock is convertible into ten common
shares at a price of $.10 per share for a period of ten years and has no voting rights unless converted into common shares.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The Board of Directors have the power and authority to fix by
resolution any designation, class, series, voting power, preference, right, qualification, limitation, restriction, dividend, time
and place of redemption and conversion right with respect to any stock of the Company.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

F-8

---

|Note 5. |  | Stock Transactions:
|------- |  | -------------------

| | On October 14, 2003, the Company declared a 2-for-1 stock split.
As a result of the split, 15,527,750 additional shares were issued and additional paid-in capital was reduced by $15,528. All
references in the accompanying financial statements to the number of common shares and per-share amounts have been restated to
reflect the stock split.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | During the year ended May 31, 2004, the Company initiated a
private placement for 1,000,000 shares of the Companys stock at the price of $1.00 per share. At May 31, 2004, 195,000
shares had been issued related to the private placement. The placement includes a warrant for each share purchased and is
exercisable at $1.25 per share for two years from that date.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Note 6. |  | Income Taxes:
|------- |  | -------------

| | For income tax purposes, pre-opening costs were deferred and are
being amortized to expense in future tax returns. The (benefit) for income taxes differs from the amount computed by applying the
U.S. federal income tax rate to loss before income taxes as follows:
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                     | May 31
|------------------------------------ | ------
|
|Expected (benefit) at statutory rate |       
|Effect of graduated federal rates    |       
|Increase in valuation allowance      |       
|                                     |       
|Increase in valuation allowance      |       
|                                     |       

| | The following is a summary of deferred taxes:
| | ---------------------------------------------

|                                              | May 31
|--------------------------------------------- | ------
|
|Deferred tax assets:                          |       
|Net operating loss and related party accruals |       
|Valuation allowance                           |       
|                                              |       
|Increase in valuation allowance               |       
|                                              |       

| | Tax law provides for limitation on the use of future loss
carryovers should significant ownership changes occur. The Company has federal net operating loss carry forwards of approximately
$2,000,000 that expire through the year 2024.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Note 7. |  | Related Party Transactions:
|------- |  | ---------------------------

| | The principal stockholder and related entities have advanced to
the Company or requested reimbursement for $1,324,116 and $1,440,066 as of May 31, 2004 and 2003, respectively. Interest on the
unsecured advances is at 8% and a total of $97,298 and $103,097 was charged to operations for the years ended May 31, 2004 and
2003, respectively, and is included in the payable to stockholder, officer amount at May 31, 2004 and 2003.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

F-9

---

|Note 8. |  | Commitments:
|------- |  | ------------

| | The Company rents office and warehouse space in Las Vegas, Nevada
under terms of an operating lease which calls for a base monthly rental of approximately $6,700, increasing annually, plus
operating expenses through June 2009. Rent expense plus operating expenses under this agreement for the years ended May 31, 2004
and 2003 was $119,500 and $77,000, respectively.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Minimum lease payments are the following for the years ending
May 31:
| | ---------------------------------------------------------------------

|2005                                |  |  | $ | 73,535  | 
|----------------------------------- |  |  | - | ------- | 
|2006                                |  |  |   | 82,426  | 
|2007                                |  |  |   | 84,899  | 
|2008                                |  |  |   | 87,446  | 
|2009                                |  |  |   | 83,593  | 
|Thereafter                          |  |  |   | 6,700   | 
|                                    |  | 
|Total Future Minimum Lease Payments |  |  | $ | 418,599 | 
|                                    |  | 

| | The Company is offering 3,000,000 of its shares to its
distributors under a plan whereby the distributors earn a stock bonus based on sales and bonus points. A distributor
who purchases enough product for 160 points, sponsors three persons who each purchase enough product for 160 points and who in
turn sponsor three additional persons who each purchase enough product for 160 points will receive 10 certificates valued at
approximately $5.00 each. The number of certificates outstanding at May 31, 2004 and 2003 was 55,295 and 43,474, respectively. The
aggregate value for certificates earned will be redeemable for shares at the current market price at the time of redemption. The
shares of stock are restricted from sale for three years from the time of issuance. The liability for the bonus points of $217,321
at May 31, 2004 and 2003, is included in accrued compensation. In May of 2004, 17,081 shares were issued to various distributors.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The Company entered into an agreement with a bank whereby a
certain amount must be deposited into a restricted cash account in exchange for credit card processing.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The Company has entered into an intellectual property license
agreement with an entity related to the principal stockholder and to a separate foundation. The agreement calls for royalty
payments to the entity and foundation that total 8% of net sales price subject to a minimum royalty fee to the entity
related to the principal stockholder and other conditions as defined by the agreement. The minimum royalty fee for the years ended
May 31, 2004 and 2003 were waived by the principal stockholder. The amount expensed for the years ended May 31, 2004 and 2003 was
$165,000 and $143,400, respectively, and is included in accrued royalties at May 31, 2004 and 2003.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

F-10

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SIGNATURES

Pursuant
to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934 the
registrant has duly caused this report to be signed on its behalf by the undersigned, who
is duly authorized.

Dated September 7, 2004

| |  | JURAK CORPORATION WORLD WIDE, INC. | 
| |  | ---------------------------------- | 
|
|
|
| |  | by /s/ Anthony Jurak               | 
| |  | Anthony Jurak                      | 



---