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, 2002
                          Commission File No. 333-61801

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

                  Minnesota                             88-0407679
         (State or other jurisdiction       (IRS Employer Identification No.)
      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, 2002, based on the average bid and asked prices of Common
Stock in the over-the-counter market on that date was $765,330.

15,527,750 shares of Registrant's Common Stock, no par value were outstanding on
August 28, 2002, prior to the effectiveness of the latest practicable date.

<PAGE>


                       DOCUMENTS INCORPORATED BY REFERENCE

         None.


                                       2
<PAGE>


                                    CONTENTS

                                                               Page
                                                               ----

PART I

         Item 1.  BUSINESS                                     4

         Item 2.  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 REGISTRANT'S COMMON
                  EQUITY AND RELATED STOCKHOLDER
                  MATTERS                                      7

         Item 6.  SELECTED FINANCIAL DATA                      8

         Item 7.  MANAGEMENT'S DISCUSSION AND
                  ANALYSIS OF FINANCIAL CONDITION
                  AND RESULTS OF OPERATIONS                    8

         Item 8.  FINANCIAL STATEMENTS AND
                  SUPPLEMENTARY DATA                          11

         Item 9.  DISAGREEMENTS ON ACCOUNTING AND
                  FINANCIAL DISCLOSURE                        11

PART III

         Item 10. DIRECTORS AND EXECUTIVE OFFICERS OF
                  THE REGISTRANT                              11

         Item 11. EXECUTIVE COMPENSATION                      12

         Item 12. SECURITY OWNERSHIP OF CERTAIN
                  BENEFICIAL OWNERS AND MANAGEMENT            12

         Item 13. CERTAIN RELATIONSHIPS AND RELATED
                  TRANSACTIONS                                13

PART IV

         Item 14. EXHIBITS, FINANCIAL STATEMENT
                  SCHEDULES AND REPORTS ON FORM 8-K           13


                                       3
<PAGE>


                                     PART I

Item 1. - 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.

         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. The 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


                                       4
<PAGE>


"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.

         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.


                                       5
<PAGE>


         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 will also
process 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 the Harris Bank.

         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.


Item 2. - PROPERTY

Facilities

         The Company has leased 8,500 square feet of office space in Las Vegas,
Nevada for its offices and warehouse, at a monthly rental of $6,000, 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.


                                       6
<PAGE>


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 8, 2002. 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,
2002 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.


                                                       Price per Share
                                                       ---------------
                                                     High              Low
                                                     ----              ---

Fiscal year 2001
         First quarter (June 1, 2000                 $5.00             $4.00
         through August 31, 2000)

         Second quarter (September 1, 2000           $5.00             $4.00
         through November 30, 2000)

         Third quarter (December 1, 2000             $5.00             $4.00
         through February 28, 2001)

         Fourth quarter (March 1, 2001               $5.00             $4.00
         through May 31, 2001)


                                       7
<PAGE>


Fiscal year 2002
         First quarter (June 1, 2001                 $5.00             $4.00
         through August 31, 2001)

         Second quarter (September 1, 2001           $5.00             $4.00
         through November 30, 2001)

         Third quarter (December 1, 2001             $.12              $.12
         through February 28, 2002)

         Fourth quarter (March 1, 2002               $.12              $.12
         through May 31, 2002)

         There have never been any dividends, cash or otherwise, paid on the
common shares of the Company.


Item 6. - SELECTED FINANCIAL DATA

                                    Fiscal Years Ended May 31,
                                    --------------------------
                                    2002             2001
                                    ----             ----

Income Statement Data
---------------------
   Net Sales                        $ 1,559,126      $ 1,038,238
   Net Income (loss)                $  (370,994)     $  (385,291)
Per Share Data
--------------
Net Income (loss)                   $      (.02)     $      (.02)


                                    As of May 31,
                                    -------------
                                    2002             2001
                                    ----             ----

Balance Sheet Data
------------------
   Total Assets                     $   217,810      $   270,477
   Total Liabilities                $ 1,817,716      $ 1,499,389
   Stockholders' Equity (Deficit)   $(1,599,906      $(1,228,912)


Item 7. - 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, 2001 of
$1,038,238, and in the year ended May 31, 2002 sales were $1,559,126,
approximately a one third gain over the prior year. During the same period the
Company expended


                                       8
<PAGE>


general, administrative and operating expenses of $1,339,589 in 2001, compared
to expenses of $1,819,950 in 2002, approximately an increase of 36%. There was a
net loss of $385,291 in 2001, compared to a net loss of $370,994 in 2002. 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.


Liquidity and Capital Resources

         The Company has financed its operations with equity capital, and raised
a total of $584,686. In addition a stockholder has advanced $1,314,920 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.

         The Company has no plans to raise additional capital through private
placements or otherwise in the next 12 months. The only need for capital would
be if the Company deemed it a good investment to do its own manufacturing.

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

         The Financial Accounting Standards Board (FASB) recently issued
Statement of Financial Accounting Standards (SFAS) 141 "Business Combinations."
This Statement addresses financial accounting and reporting for business
combinations. It eliminates the pooling-of-interests method and requires all
business combinations be accounted for using the purchase method. The provisions
of the Statement apply to all business combinations initiated after June 30,
2001, and to all business combinations accounted for using the purchase method
for which the date of acquisition is July 1, 2001 or later. Adoption of the new
standard will have no initial effect on the Company's financial statements.


                                       9
<PAGE>


         The FASB also recently issued SFAS 142 "Goodwill and Other Intangible
Assets." This Statement addresses how intangible assets that are acquired
individually or with a group of other assets should be accounted for in
financial statements upon their acquisition. It also addresses how goodwill and
other intangible assets should be accounted for after they have been initially
recognized in the financial statements. Under the new standard, amortization of
existing goodwill ceases upon adoption of SFAS 142 and is replaced by periodic
evaluation for impairment using specific methodology. SFAS 142 is effective for
fiscal years beginning after December 15, 2001. The Company will apply SFAS 142
beginning with the first quarter of its fiscal year ending February 28, 2003.
The effects of adoption of SFAS 142 on the Company's financial statements are
not determinable currently or for any future periods.

         In June 2001, the FASB issued SFAS 143 "Accounting for Asset Retirement
Obligations." SFAS 143 is effective for fiscal year beginning after June 15,
2002. The Company is currently evaluating the impact of SFAS 143.

         In August 2001, the FASB issued SFAS 144 "Accounting for the Impairment
or Disposal of Long-Lived Assets." SFAS 144 supercedes SFAS 121 and is effective
for financial statements issued for fiscal years beginning after December 31,
2001. The provisions of SFAS 144 generally are to be applied prospectively. The
Company is currently evaluating the impact of SFAS 144.


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.

         General

         The preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America 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.


                                       10
<PAGE>


         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 5 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, 2002
is approximately $108,000.


Item 8. - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

         The financial statements are attached following Item 14.


Item 9. - DISAGREEMENTS ON ACCOUNTING AND FINANCIAL
          DISCLOSURE.

         None.


                                    PART III

Item 10. - 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           64          Chairman, Secretary

Roger Theriault              56          President, Director

Maria Jose Guedes            33          Vice President of Operations, Assistant
                                         Secretary-Treasurer

         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


                                       11
<PAGE>


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.

         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.


Item 11. - EXECUTIVE COMPENSATION.

         There are no officers or directors that received compensation in excess
of $60,000 or more during the last year. Management has taken no remuneration to
date, except as noted in Certain Transactions.


Item 12. - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
           AND MANAGEMENT.

         There are presently 15,527,750 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.


                              Shares of                 Percentage of
Name                          Common Stock              Ownership
---------------------------------------------------------------------

Anthony Carl Jurak (1)        9,220,000                 60%


                                       12
<PAGE>


Roger Theriault               1,500,000                 10%

Michael Fielding              1,500,000                 10%

Roger Matthews                1,300,000                  8%

John H. Picken                  920,000                  6%

All officers and directors   10,720,000                 70%
as a group

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


Item 13. - 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 $1,314,920
and $1,223,002 as of May 31, 2002 and 2001 respectively. Interest on the
advances is at 8% and a total of $95,300 and $99,500 was charged to operations
for the years ended May 31, 2002 and 2001 respectively.


                                     PART IV

Item 14. - EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND
           REPORTS ON FORM 8-K.

         (a) Attached are the Financial Statements and Independent Auditor's
         Report on Examination of Financial Statements for the years ended May
         31, 2002 and May 31, 2001.

         (b) Attached are the following Financial Statement Schedules and
         Auditors Report on Schedules,

         None

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

         (c) No report was filed on Form 8-K.

         (d) Exhibit 99.1 - Certification of Anthony Jurak pursuant to 18 U.S.C.
         1350.


                                       13
<PAGE>

                                   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 August 28, 2002



                                        JURAK CORPORATION WORLD WIDE, INC.




                                        by /s/ Anthony Jurak
                                           ---------------------------
                                                Anthony Jurak


                                       14
<PAGE>


                                JURAK CORPORATION
                                WORLD WIDE, INC.


                                FINANCIAL REPORT

                              MAY 31, 2002 AND 2001

<PAGE>


                          INDEPENDENT AUDITOR'S REPORT



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, 2002 and 2001, 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 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 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, 2002 and 2001, and the results of its operations and its cash
flows for the years 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 6 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 6. The financial
statements do not include any adjustments that might result from the outcome of
this uncertainty.




                                        VIRCHOW, KRAUSE & COMPANY, LLP

Minneapolis, Minnesota
July 11, 2002

<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                                 BALANCE SHEETS
                              May 31, 2002 and 2001


<TABLE>
<CAPTION>
             ASSETS                                                     2002             2001
                                                                    ------------     ------------
<S>                                                                 <C>              <C>
CURRENT ASSETS:
    Cash and cash equivalents                                       $         --     $     33,346
    Accounts receivable                                                       --              188
    Inventories                                                           99,628           91,861
                                                                    ------------     ------------
                                                                          99,628          125,395

RESTRICTED CASH                                                           70,644           70,644

DEPOSITS                                                                  28,900           28,900

OFFICE FURNISHINGS AND EQUIPMENT, less
    accumulated depreciation 2002 $93,441; 2001 $64,441                   18,638           45,538
                                                                    ------------     ------------

                                                                    $    217,810     $    270,477
                                                                    ============     ============


        LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES:
    Checks issued in excess of  bank balance                        $     10,423     $         --
    Accounts payable                                                      57,474           23,678
    Accrued compensation                                                 286,563          164,373
    Payable to related party                                             148,336           88,336
    Payable to stockholder, officer                                    1,314,920        1,223,002
                                                                    ------------     ------------
                                                                       1,817,716        1,499,389


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, 15,527,750 shares issued and outstanding              15,528           15,528
    Additional paid-in capital                                           569,158          569,158
    Accumulated deficit                                               (2,184,592)      (1,813,598)
                                                                    ------------     ------------
                                                                      (1,599,906)      (1,228,912)
                                                                    ------------     ------------

                                                                    $    217,810     $    270,477
                                                                    ============     ============
</TABLE>

See Notes to Financial Statements.


                                       2
<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                            STATEMENTS OF OPERATIONS
                        Years Ended May 31, 2002 and 2001


<TABLE>
<CAPTION>
                                                            2002             2001
                                                        ------------     ------------
<S>                                                     <C>              <C>
Sales                                                   $  1,559,126     $  1,038,238
Cost of sales                                                105,734           80,458
                                                        ------------     ------------
                                                           1,453,392          957,780

Selling, general and administrative expenses              (1,819,950)      (1,339,589)
Other income (expense)                                        (4,436)          (3,482)
                                                        ------------     ------------

             Net loss                                   $   (370,994)    $   (385,291)
                                                        ============     ============


Basic loss per common share                             $       (.02)    $       (.02)
                                                        ============     ============

Diluted loss per common share                           $       (.02)    $       (.02)
                                                        ============     ============

Weighted average outstanding common shares                15,527,750       15,527,750
                                                        ============     ============
</TABLE>

See Notes to Financial Statements.


                                       3
<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                       STATEMENTS OF STOCKHOLDERS' DEFICIT


<TABLE>
<CAPTION>
                                           Common Stock            Additional
                                   ----------------------------      Paid-In        Accumulated
                                      Shares          Amount         Capital          Deficit
                                   ------------    ------------    ------------    ------------
<S>                                <C>             <C>             <C>             <C>
Balance, May 31, 2000                15,527,750    $     15,528    $    569,158    $ (1,428,307)
    Net loss                                 --              --              --        (385,291)
                                   ------------    ------------    ------------    ------------

Balance, May 31, 2001                15,527,750          15,528         569,158    $ (1,813,598)
    Net loss                                 --              --              --        (370,994)
                                   ------------    ------------    ------------    ------------

Balance, May 31, 2002                15,527,750    $     15,528    $    569,158    $ (2,184,592)
                                   ============    ============    ============    ============
</TABLE>

See Notes to Financial Statements.


                                       4
<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                            STATEMENTS OF CASH FLOWS
                        Years Ended May 31, 2002 and 2001


<TABLE>
<CAPTION>
                                                                  2002             2001
                                                              ------------     ------------
<S>                                                           <C>              <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
    Net loss                                                  $   (370,994)    $   (385,291)
    Depreciation                                                    29,000           29,010
    Increase (decrease) in accounts receivable                         188              300
    Increase (decrease) in inventories                              (7,767)          82,991
    Increase (decrease) in accounts payable                         33,796           (1,077)
    Increase (decrease) in accrued expenses                        182,190          184,771
    Increase (decrease) in payable to stockholder, officer          91,918          143,328
                                                              ------------     ------------
             Net cash provided by operating activities             (41,669)          54,032

CASH FLOWS FROM INVESTING ACTIVITIES:
    Purchase of office equipment                                    (2,100)              --
    Increase in restricted cash                                         --          (33,585)
                                                              ------------     ------------
             Net cash used in investing activities                  (2,100)         (33,585)

CASH FLOWS FROM FINANCING ACTIVITIES:
    Checks issued in excess of bank balance                         10,423               --
                                                              ------------     ------------
    Increase (decrease) in cash and cash equivalents               (33,346)          20,447

Cash and cash equivalents:
    Beginning                                                       33,346           12,899
                                                              ------------     ------------

    Ending                                                    $         --     $     33,346
                                                              ============     ============

SUPPLEMENTAL CASH FLOW DISCLOSURES
    Cash paid for interest                                    $     13,376     $
                                                              ============     ============
</TABLE>

See Notes to Financial Statements.


                                       5
<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                          NOTES TO FINANCIAL STATEMENTS
                              May 31, 2002 and 2001


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

          NATURE OF BUSINESS:

          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 AND CASH EQUIVALENTS:

          The Company considers all highly liquid debt instruments purchased
          with a maturity of three months or less to be cash equivalents.

          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
                                                    --------------------------
                                                       2002            2001
                                                    ----------      ----------
                 Raw materials                      $   16,287      $   16,900
                 Finished goods and supplies            83,341          74,961
                                                    ----------      ----------
                                                    $   99,628      $   91,861
                                                    ==========      ==========

          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 $32,681 and $918 for 2002 and 2001,
          respectively.


                                       6
<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                              May 31, 2002 and 2001


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

          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, 2002 and 2001.

          RECENTLY ISSUED ACCOUNTING PRONOUNCEMENT:

          The Financial Accounting Standards Board (FASB) recently issued
          Statement of Financial Accounting Standards (SFAS) 141 "Business
          Combinations." This Statement addresses financial accounting and
          reporting for business combinations. It eliminates the
          pooling-of-interests method and requires all business combinations be
          accounted for using the purchase method. The provisions of the
          Statement apply to all business combinations initiated after June 30,
          2001, and to all business combinations accounted for using the
          purchase method for which the date of acquisition is July 1, 2001, or
          later. Adoption of the new standard will have no initial effect on the
          Company's financial statements.

          The FASB also recently issued SFAS 142 "Goodwill and Other Intangible
          Assets." This Statement addresses how intangible assets that are
          acquired individually or with a group of other assets should be
          accounted for in financial statements upon their acquisition. It also
          addresses how goodwill and other intangible assets should be accounted
          for after they have been initially recognized in the financial
          statements. Under the new standard, amortization of existing goodwill
          ceases upon adoption of SFAS 142 and is replaced by periodic
          evaluation for impairment using specific methodology. SFAS 142 is
          effective for fiscal years beginning after December 15, 2001. The
          Company will apply SFAS 142 beginning with the first quarter of its
          fiscal year ending February 28, 2003. The effects of adoption of SFAS
          142 on the Company's financial statements are not determinable
          currently or for any future periods.

          In June, 2001, the FASB issued SFAS 143 "Accounting for Asset
          Retirement Obligations." SFAS 143 is effective for fiscal years
          beginning after June 15, 2002. The Company is currently evaluating the
          impact of SFAS 143.

          In August 2001, the FASB issued SFAS 144 "Accounting for the
          Impairment or Disposal of Long-Lived Assets." SFAS 144 supercedes SFAS
          121 and is effective for financial statements issued for fiscal years
          beginning after December 31, 2001. The provisions of SFAS 144
          generally are to be applied prospectively. The Company is currently
          evaluating the impact of SFAS 144.

          In April 2002, the FASB issued SFAS 145 "Rescission of FASB Statements
          No. 4, 44 and 64, Amendment of FASB Statement No. 13 and Technical
          Corrections" for fiscal years beginning after May 15, 2002. In June
          2002, the FASB issued SFAS 146 "Accounting for Costs Associated with
          Exit of Disposal Activities." The Company is currently evaluating the
          impact of SFAS 145 and 146.

          RECLASSIFICATIONS:

          Certain reclassifications have been made to the 2001 financial
          statements to conform to the classifications used in 2002. Such
          reclassifications had no effect on net loss or stockholders' deficit.


                                       7
<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                              May 31, 2002 and 2001


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

          ESTIMATES AND ASSUMPTIONS:

          The preparation of the financial statements in conformity with
          accounting principles generally accepted in the United States of
          America 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. Potential issuance's that would reduce loss
          per common share are considered anti-dilutive and are excluded from
          the computation.

Note 2.   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.

Note 3.   Income Taxes:

          For income tax purposes, pre-opening costs were deferred and are being
          amortized to expense in future tax returns. The provision (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
                                                       ------------------------
                                                          2002           2001
                                                       ----------    ----------
           Expected tax (benefit) at statutory rate    $ (120,000)   $ (130,000)
           Effect of graduated federal rates               12,500        12,500
           Increase in valuation allowance                107,500       117,500
                                                       ----------    ----------
                                                       $       --    $       --
                                                       ==========    ==========

          The following is a summary of deferred taxes:

                                                                 May 31
                                                       ------------------------
                                                          2002          2001
                                                       ----------    ----------
           Deferred tax assets:
             Net operating and pre-opening losses      $  682,500    $  575,000
             Valuation allowance                         (682,500)     (575,000)
                                                       ----------    ----------
                                                       $       --    $       --
                                                       ==========    ==========

          Tax law provides for limitation on the use of future loss carryovers
          should significant ownership changes occur. The Company has net
          operating loss carry forwards of approximately $1,600,000 that expire
          through the year 2022.


                                       8
<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                              May 31, 2002 and 2001


Note 4.   Related Party Transactions:

          The principal stockholder has advanced to the Company or requested
          reimbursement for $1,314,920 and $1,223,002 as of May 31, 2002 and
          2001, respectively. Interest on the advances is at 8% and a total of
          $95,300 and $99,500 was charged to operations for the years ended May
          31, 2002 and 2001, respectively.

Note 5.   Commitments:

          The Company rents 8,462 square feet of office and warehouse space in
          Las Vegas, Nevada under terms of an operating lease which calls for
          monthly rentals of approximately $6,000 plus operating expenses
          through September 2003. Rent expense plus operating expenses under
          this agreement for the years ended May 31, 2002 and 2001 was $94,000
          and $73,161, respectively.

          Minimum lease payments at May 31, 2002 are as follows:

          Year Ending May 31:
                2003                                $   72,000
                2004                                    24,000
                                                    ----------
                                                    $   96,000
                                                    ==========

          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 $5.00 each. The number of certificates
          outstanding at May 31, 2002 and 2001was 21,756, and 10,564,
          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 Company entered into an agreement with a bank whereby ten percent
          of certain sales 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 two entities related to the principal stockholder. The
          agreement calls for royalty payments to the entities that total 8% of
          "net sales price" subject to certain limitations and conditions as
          defined by the agreement. The amount expensed for the years ended May
          31, 2002 and 2001 was $84,000 and $53,900, respectively.

Note 6.   Company's Continued Existence:

          The accompanying financial statements have been prepared in conformity
          with accounting principles generally accepted in the United States of
          America, 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.


                                       9