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, 2001
                          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, 2001, based on the average bid and asked prices of Common
Stock in the over-the-counter market on that date was $28,699,875.

15,527,750 shares of Registrant's Common Stock, no par value were outstanding on
May


<PAGE>


31, 2001, prior to the effectiveness of the latest practicable date.

                       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                                 9

         Item 9.  DISAGREEMENTS ON ACCOUNTING AND
                           FINANCIAL DISCLOSURE                               9

PART III

         Item 10. DIRECTORS AND EXECUTIVE OFFICERS OF
                           THE REGISTRANT                                     9

         Item 11. EXECUTIVE COMPENSATION                                     10

         Item 12. SECURITY OWNERSHIP OF CERTAIN
                           BENEFICIAL OWNERS AND MANAGEMENT                  10


                                       3
<PAGE>


         Item 13. CERTAIN RELATIONSHIPS AND RELATED
                           TRANSACTIONS                                      11

PART IV

         Item 14. EXHIBITS, FINANCIAL STATEMENT
                           SCHEDULES AND REPORTS ON FORM 8-K                 11


                                     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


                                       4
<PAGE>


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.

         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
will be made by the distributors to individuals, there will be 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


                                       5
<PAGE>


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.

         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


                                       6
<PAGE>


         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 $5,696, 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.


Item 3. - LEGAL PROCEEDINGS

         None


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

         None.



                                     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,
2001 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


                                       7
<PAGE>


         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)

The last trade was in August, 2000.
         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,
                                      --------------------------
                                        2001             2000
                                        ----             ----

Income Statement Data
---------------------
   Net Sales                        $ 1,038,238      $   406,335--
   Net Income (loss)                $  (385,291)     $  (575,854)

Per Share Data
--------------
Net Income (loss)                   $      (.02)     $      (.04)


                                                     As of May 31,
                                                     -------------
                                                2001              2000
                                                ----              ----

Balance Sheet Data
------------------
   Total Assets                             $   270,477      $   328,746
   Total Liabilities                        $ 1,499,389      $ 1,172,367
   Stockholders' Equity (Deficit)           $(1,228,912)     $  (843,621)


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, 2000 of
$406,335, and in the year ended May 31, 2001 sales were $1,038,238,
approximately 2.55 times the sales of the prior year. During the same period the
Company expended selling, general and administrative expenses of $946,351 in
2000, compared to expenses of


                                       8
<PAGE>


$1,322,923 in 2001, approximately an increase of 40%. There was a net loss of
$575,854 in 2000, compared to a net loss of $385,291 in 2001. 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 $1,223,002 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 will not be 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.


Item 8. - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

         The financial statements are attached following Item 14.


Item 9. - DISAGREEMENTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.

         None.


                                       9
<PAGE>


                                    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                  63               Chairman, Secretary

Roger Theriault                     55               President, Director


         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.

         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).

         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.


                                       10
<PAGE>


         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)              6,150,000                            40%

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          7,650,000                            50%
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 $1,223,002
and $1,079,674 as of May 31, 2001 and 2000 respectively. Interest on the
advances is at 8% and a total of $99,500 and $57,150 was charged to operations
for the years ended May 31, 2001 and 2000 respectively.


                                     PART IV


                                       11
<PAGE>


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, 2001 and May 31, 2000.

         (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)  There are no exhibits.



                                   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, 2001



                                              JURAK CORPORATION WORLD WIDE, INC.




                                              By   /s/ Anthony Jurak
                                                 -------------------------------
                                                       Anthony Jurak


                                       12
<PAGE>


                                JURAK CORPORATION
                                WORLD WIDE, INC.


                                FINANCIAL REPORT

                              MAY 31, 2001 AND 2000


<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, 2001 and 2000, 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, 2001 and 2000, 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 20, 2001


<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                                 BALANCE SHEETS
                              May 31, 2001 and 2000

<TABLE>
<CAPTION>

             ASSETS                                                    2001            2000
                                                                    -----------     -----------
<S>                                                                 <C>             <C>
CURRENT ASSETS:
    Cash and cash equivalents                                       $    33,346     $    12,899
    Accounts receivable                                                     188             488
    Inventories                                                          91,861         174,852
                                                                    -----------     -----------
                                                                        125,395         188,239

RESTRICTED CASH                                                          70,644          37,059

DEPOSITS                                                                 28,900          28,900

OFFICE FURNISHINGS AND EQUIPMENT, less
    accumulated depreciation 2001 $64,441; 2000 $35,431                  45,538          74,548
                                                                    -----------     -----------

                                                                    $   270,477     $   328,746
                                                                    ===========     ===========

        LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES:
    Accounts payable                                                $    23,678     $    24,755
    Accrued compensation                                                164,373          38,456
    Payable to related party                                             88,336          29,482
    Payable to stockholder, officer                                   1,223,002       1,079,674
                                                                    -----------     -----------
                                                                      1,499,389       1,172,367

COMMITMENTS

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                                              (1,813,598)     (1,428,307)
                                                                    -----------     -----------
                                                                     (1,228,912)       (843,621)
                                                                    -----------     -----------

                                                                    $   270,477     $   328,746
                                                                    ===========     ===========

</TABLE>

See Notes to Financial Statements.


                                       2
<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                            STATEMENTS OF OPERATIONS
                        Year Ended May 31, 2001 and 2000


                                                    2001              2000
                                               --------------    --------------

Sales                                          $    1,038,238    $      406,335
Cost of sales                                          97,124            38,220
                                               --------------    --------------
                                                      941,114           368,115

Selling, general and administrative expenses       (1,322,923)         (946,351)
Other income (expense)                                 (3,482)            2,382
                                               ---------------   --------------

             Net loss                          $     (385,291)   $     (575,854)
                                               ===============   ===============


Basic loss per common share                    $         (.02)   $         (.04)
                                               ===============   ==============

Diluted loss per common share                  $         (.02)   $         (.04)
                                               ===============   ==============

Weighted average outstanding common shares         15,527,750        15,527,750
                                               ==============    ==============


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, 1999              15,527,750    $       15,528   $      569,158    $     (852,453)
    Net loss                               --                --               --          (575,854)
                               --------------    --------------   --------------    --------------

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)
                               ==============    ==============   ==============    ===============
</TABLE>

See Notes to Financial Statements.


                                       4
<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                            STATEMENTS OF CASH FLOWS
                        Years Ended May 31, 2001 and 2000

<TABLE>
<CAPTION>

                                                                2001           2000
                                                              ---------      --------

CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                           <C>           <C>
    Net loss                                                  $(385,291)    $(575,854)
    Depreciation                                                 29,010        28,650
    Increase (decrease) in accounts receivable                      300          (477)
    Increase (decrease) in inventories                           82,991        28,599
    Increase (decrease) in accounts payable                      (1,077)      (41,970)
    Increase (decrease) in accrued expenses                     184,771        59,589
    Increase (decrease) in payable to stockholder, officer      143,328       577,174
                                                              ---------     ---------
             Net cash provided by operating activities           54,032        75,711

CASH FLOWS FROM INVESTING ACTIVITIES:
    Deposits (paid) applied                                          --          (500)
    Purchase of office equipment                                     --       (56,072)
    Increase in restricted cash                                 (33,585)      (13,076)
                                                              ---------     ---------
             Net cash used in investing activities              (33,585)      (69,648)

             Increase in cash and cash equivalents               20,447         6,063

Cash and cash equivalents:
    Beginning                                                    12,899         6,836
                                                              ---------     ---------

    Ending                                                    $  33,346     $  12,899
                                                              =========     =========
</TABLE>


See Notes to Financial Statements.


                                       5
<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                          NOTES TO FINANCIAL STATEMENTS
                              May 31, 2001 and 2000


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
                                            -------------------------
                                              2001            2000
                                            ---------       ---------
         Raw materials                         16,900       $  16,900
         Finished goods                        74,961         157,952
                                            ---------       ---------
                                            $  91,861       $ 174,852
                                            =========       =========

         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 $825 and $873 for 2001 and 2000, respectively.


                                       8
<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                              May 31, 2001 and 2000


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, 2001 and 2000.

         RECENTLY ISSUED ACCOUNTING PRONOUNCEMENT:

         Statement of Financial Accounting Standards (SFAS) No. 133 "Accounting
         for Derivative Instruments and Hedging Activities" as amended, is
         effective for years beginning after June 15, 2000. The Company believes
         the adoption of SFAS No. 133 will not have a material effect on the
         Company's financial position or results of operations.

         RECLASSIFICATIONS:

         Certain reclassifications have been made to the 2000 financial
         statements to conform to the classifications used in 2001. Such
         reclassifications had no effect on net loss or stockholders' deficit.

         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.


                                       7
<PAGE>


                       JURAK CORPORATION WORLD WIDE, INC.

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                              May 31, 2001 and 2000


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
                                                     --------------------------
                                                          2001         2000
                                                     -----------    -----------
         Expected tax (benefit) at statutory rate       (130,000)   $  (200,000)
         Effect of graduated federal rates                12,500         12,500
         Increase in valuation allowance                 117,500        187,500
                                                     -----------    -----------
                                                     $        --    $        --
                                                     ===========    ===========

         The following is a summary of deferred taxes:

                                                                May 31
                                                     --------------------------
                                                          2001         2000
                                                     -----------    -----------
         Deferred tax assets:
         Net operating and pre-opening losses        $   575,000    $   457,500
         Valuation allowance                            (575,000)      (457,500)
                                                     -----------    -----------
                                                     $        --    $        --
                                                     ===========    ===========

         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 $1,450,000 that expire
         through the year 2021.

Note 4.  Related Party Transactions:

         The principal stockholder has advanced to the Company or requested
         reimbursement for $1,223,002 and $1,079,674 as of May 31, 2001 and
         2000, respectively. Interest on the advances is at 8% and a total of
         $99,500 and $57,150 was charged to operations for the years ended May
         31, 2001 and 2000, 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 $5,900 plus operating expenses through
         September 2003. Rent expense plus operating expenses under this
         agreement for the years ended May 31, 2001 and 2000 was $69,519 and
         $73,161, respectively.

         Minimum lease payments at May 31, 2001 are as follows:

         Year Ending May 31:
               2002                                               $       70,800
               2003                                                       70,800
               2004                                                       23,600
                                                                  --------------
                                                                  $      165,200
                                                                  ==============


                                       8
<PAGE>

                       JURAK CORPORATION WORLD WIDE, INC.

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                              May 31, 2001 and 2000

Note 5.  Commitments: (continued)

         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,
         2001 and 2000 was 10,564 and 3,152, 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, 2001 and
         2000 was $53,900 and $26,500, 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.



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