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

                                   FORM 10-KSB

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

                   For the fiscal year ended December 31, 2002
                                             -----------------

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

     For the transition period from                  to
                                    ----------------    ----------------

Commission File number      000-30415
                       ------------------

                            WESTERN GLORY HOLE, INC.
          -------------------------------------------------------------
               (Exact name of registrant as specified in charter)

            Nevada                                           87-0632495
--------------------------------------------           ----------------------
State or other jurisdiction of incorporation         (I.R.S. Employer I.D. No.)
 or organization

1981 East Murray Holiday Road , Salt Lake City, Utah           84117
----------------------------------------------------    ---------------------
(Address of principal executive offices)                     (Zip Code)

Issuer's telephone number, including area code        801-272-9294
                                               -------------------------------

Securities registered pursuant to section 12 (b) of the Act:

Title of each class                   Name of each exchange on which registered
       None                                            None
--------------------                  -----------------------------------------

         Securities registered pursuant to section 12 (g ) of the Act:

                                     Common
                    ---------------------------------------
                                (Title of Class)

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


                                    Page -1-

<PAGE>



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

State issuer's revenues for its most recent fiscal year:  $   -
                                                           ---------

State the aggregate market value of the voting stock held by nonaffiliates of
the registrant. The aggregate market value shall be computed by reference to the
price at which the stock was sold, or the average bid and asked prices of such
stock, as of a specified date within the past 60 days.

At December 31, 2002, the aggregate market value of the voting stock held by
nonaffiliates is undeterminable and is considered to be 0.

     (ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)

                                 Not applicable

                   (APPLICABLE ONLY TO CORPORATE REGISTRANTS)

As of December 31, 2002, the registrant had 742,500 shares of common stock
issued and outstanding.

                       DOCUMENTS INCORPORATED BY REFERENCE

List hereunder the following documents if incorporated by reference and the part
of the form 10- KSB (e.g., part I, part II, etc.) into which the document is
incorporated: (1) Any annual report to security holders; (2) any proxy or other
information statement; and (3) Any prospectus filed pursuant to rule 424 (b) or
(c) under the Securities Act of 1933: None

                                    Page -2-

<PAGE>


                                TABLE OF CONTENTS

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


PART I
------
                                                                            Page
                                                                            ----

ITEM 1.    DESCRIPTION OF BUSINESS                                            4

ITEM 2.    DESCRIPTION OF PROPERTIES                                          8

ITEM 3.    LEGAL PROCEEDINGS                                                  8

ITEM 4.    SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS                  8

PART II
-------

ITEM 5.    MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS           8

ITEM 6.    MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION          9

ITEM 7.    FINANCIAL STATEMENTS                                               10

ITEM 8.    CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
           AND FINANCIAL DISCLOSURE                                           10

PART III
--------

ITEM 9.    DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS, AND CONTROL PERSONS;
           COMPLIANCE WITH SECTION 16 (a) OF THE EXCHANGE ACT                 10

ITEM 10.   EXECUTIVE COMPENSATION                                             13

ITEM 11.   SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
           AND MANAGEMENT                                                     13

ITEM 12.   CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS                     15

PART IV
-------

ITEM 13.   EXHIBITS                                                           15



                                    Page -3-

<PAGE>


                         ITEM 1. DESCRIPTION OF BUSINESS

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


History and Organization

General

The Company was incorporated  under the laws of the State of Nevada on March 28,
1983 with the name of "L. Peck  Enterprises,  Inc." with authorized common stock
of 2,500 shares at no par value.  On May 27, 1999 the  authorized  capital stock
was  increased to  100,000,000  shares with a par value of $0.001 in  connection
with a name change to "Western Glory Hole, Inc".

On May 27, 1999 the Company completed a forward common stock split of 225 shares
for each  outstanding  share.  This report has been prepared showing after stock
split shares with a par value of $.001 from inception.

The Company  became  inactive  after 1990 and has since been in the  development
stage and has been  engaged  in the  activity  of  seeking  profitable  business
opportunities.

Business.

     Other than the  above-referenced  matters  and  seeking  and  investigating
potential  assets,  properties or businesses to acquire,  the Company has had no
business  operations since inception.  To the extent that the Company intends to
continue  to seek the  acquisition  of assets,  property  or  business  that may
benefit the Company and its  stockholders,  it is  essentially  a "blank  check"
company.  Because  the  Company has  limited  assets and  conducts no  business,
management  anticipates  that any such  acquisition  would  require  it to issue
shares of its common stock as the sole  consideration for the acquisition.  This
may result in substantial  dilution of the shares of current  stockholders.  The
Company's  Board of  Directors  shall  make the final  determination  whether to
complete any such  acquisition;  the approval of stockholders will not be sought
unless  required by  applicable  laws,  rules and  regulations,  its Articles of
Incorporation  or Bylaws,  or contract.  The Company makes no assurance that any
future enterprise will be profitable or successful.

     The Company is not currently engaging in any substantive  business activity
and has no plans to engage in any such activity in the  foreseeable  future.  In
its present form,  the Company may be deemed to be a vehicle to acquire or merge
with a business or company.  The Company  does not intend to restrict its search
to any particular business or industry,  and the areas in which it will seek out
acquisitions,  reorganizations  or mergers may include,  but will not be limited
to, the fields of high technology,  manufacturing,  natural resources,  service,
research and development, communications,  transportation, insurance, brokerage,
finance and all medically related fields,  among others.  The Company recognizes
that the number of suitable potential business ventures that may be available to
it may be extremely  limited,  and may be  restricted  to entities who desire to
avoid what  these  entities  may deem to be the  adverse  factors  related to an
initial public  offering  ("IPO").  The most prevalent of these factors  include
substantial  time  requirements,  legal and accounting  costs,  the inability to
obtain an underwriter who is willing to publicly offer and sell shares, the lack
of or the  inability to obtain the  required  financial  statements  for such an
undertaking,  limitations  on the  amount of  dilution  to public  investors  in
comparison to the stockholders of any such entities, along with other conditions
or requirements  imposed by various federal and state securities laws, rules and
regulations.  Any of these types of  entities,  regardless  of their  prospects,
would require the Company to issue a substantial number of shares of its common

                                    Page -4-

<PAGE>



stock to  complete  any such  acquisition,  reorganization  or  merger,  usually
amounting to between 80 and 95 percent of the outstanding  shares of the Company
following the completion of any such  transaction;  accordingly,  investments in
any such private  entity,  if available,  would be much more  favorable than any
investment in the Company.

     In the event that the Company  engages in any  transaction  resulting  in a
change of control of the  Company  and/or the  acquisition  of a  business,  the
Company will be required to file with the  Commission  a Current  Report on Form
8-K within 15 days of such  transaction.  A filing on Form 8-K also requires the
filing of audited financial statements of the business acquired,  as well as pro
forma financial  information  consisting of a pro forma condensed balance sheet,
pro forma statements of income and accompanying explanatory notes.

     Management  intends to  consider  a number of  factors  prior to making any
decision as to whether to participate in any specific business endeavor, none of
which may be  determinative  or provide  any  assurance  of  success.  These may
include,  but will not be limited to an analysis of the quality of the  entity's
management  personnel;  the  anticipated  acceptability  of any new  products or
marketing concepts;  the merit of technological  changes;  its present financial
condition,  projected  growth potential and available  technical,  financial and
managerial  resources;  its working  capital,  history of operations  and future
prospects;  the nature of its present and expected competition;  the quality and
experience  of its  management  services  and the depth of its  management;  its
potential  for  further  research,  development  or  exploration;  risk  factors
specifically  related to its  business  operations;  its  potential  for growth,
expansion and profit;  the  perceived  public  recognition  or acceptance of its
products,  services,  trademarks  and name  identification;  and numerous  other
factors  which are  difficult,  if not  impossible,  to properly  or  accurately
analyze, let alone describe or identify, without referring to specific objective
criteria.

     Regardless,  the  results  of  operations  of any  specific  entity may not
necessarily be indicative of what may occur in the future, by reason of changing
market  strategies,  plant or product  expansion,  changes in product  emphasis,
future management  personnel and changes in innumerable other factors.  Further,
in  the  case  of a new  business  venture  or one  that  is in a  research  and
development mode, the risks will be substantial,  and there will be no objective
criteria to examine the  effectiveness or the abilities of its management or its
business  objectives.  Also,  a firm market for its products or services may yet
need to be established,  and with no past track record, the profitability of any
such entity will be unproven and cannot be predicted with any certainty.

     Management  will  attempt  to  meet  personally  with  management  and  key
personnel  of the entity  sponsoring  any business  opportunity  afforded to the
Company,  visit and inspect material facilities,  obtain independent analysis or
verification  of  information   provided  and  gathered,   check  references  of
management  and key  personnel  and conduct other  reasonably  prudent  measures
calculated to ensure a reasonably  thorough  review of any  particular  business
opportunity;  however,  due to time constraints of management,  these activities
may be limited.

     The Company is unable to predict the time as to when and if it may actually
participate in any specific  business  endeavor.  The Company  anticipates  that
proposed  business  ventures  will  be made  available  to it  through  personal
contacts  of  directors,   executive   officers  and   principal   stockholders,
professional advisors, broker dealers in securities,  venture capital personnel,
members  of the  financial  community  and others  who may  present  unsolicited
proposals.  In certain cases,  the Company may agree to pay a finder's fee or to
otherwise  compensate  the persons who submit a potential  business  endeavor in
which  the  Company  eventually  participates.  Such  persons  may  include  the
Company's directors, executive officers, beneficial

                                    Page -5-

<PAGE>



owners or their  affiliates.  In this  event,  such fees may  become a factor in
negotiations  regarding a potential acquisition and, accordingly,  may present a
conflict of interest for such individuals.

     Although the Company has not identified any potential  acquisition  target,
the possibility  exists that the Company may acquire or merge with a business or
company in which the Company's executive officers, directors,  beneficial owners
or their affiliates may have an ownership interest.  Current Company policy does
not  prohibit  such  transactions.  Because  no such  transaction  is  currently
contemplated,  it is impossible to estimate the potential  pecuniary benefits to
these persons.

     Further,  substantial fees are often paid in connection with the completion
of these types of acquisitions, reorganizations or mergers, ranging from a small
amount to as much as $250,000. These fees are usually divided among promoters or
founders,  after deduction of legal,  accounting and other related expenses, and
it is not  unusual  for a  portion  of  these  fees  to be paid  to  members  of
management or to principal  stockholders as consideration for their agreement to
retire a portion of the shares of common stock owned by them.  In the event that
such  fees are paid,  they may  become a factor in  negotiations  regarding  any
potential acquisition by the Company and, accordingly, may present a conflict of
interest for such individuals.

Principal Products and Services.

     The  limited  business  operations  of the  Company,  as now  contemplated,
involve those of a "blank check" company. The only activities to be conducted by
the  Company  are to  manage  its  current  limited  assets  and to seek out and
investigate the  acquisition of any viable business  opportunity by purchase and
exchange for securities of the Company or pursuant to a reorganization or merger
through which securities of the Company will be issued or exchanged.

Distribution Methods of the Products or Services.

     Management will seek out and  investigate  business  opportunities  through
every reasonably available fashion, including personal contacts,  professionals,
securities broker dealers,  venture capital personnel,  members of the financial
community and others who may present unsolicited proposals; the Company may also
advertise its  availability as a vehicle to bring a company to the public market
through a "reverse" reorganization or merger.

Status of any Publicly Announced New Product or Service.

     None; not applicable.

Competitive Business Conditions.

     Management  believes  that there are  literally  thousands of "blank check"
companies engaged in endeavors similar to those engaged in by the Company;  many
of  these  companies  have   substantial   current  assets  and  cash  reserves.
Competitors  also  include  thousands  of other  publicly-held  companies  whose
business  operations  have proven  unsuccessful,  and whose only viable business
opportunity is that of providing a publicly-held vehicle through which a private
entity may have access to the public capital markets. There is no reasonable way
to predict the  competitive  position of the Company or any other  entity in the
strata of these endeavors;  however, the Company, having limited assets and cash
reserves,  will no doubt be at a  competitive  disadvantage  in  competing  with
entities which have recently completed IPO's, have significant cash resources

                                    Page -6-

<PAGE>



and have recent operating  histories when compared with the complete lack of any
substantive operations by the Company for the past several years.

Sources and Availability of Raw Materials and Names of Principal Suppliers.

     None; not applicable.

Dependence on One or a Few Major Customers.

     None; not applicable.

Patents, Trademarks,  Licenses, Franchises,  Concessions,  Royalty Agreements or
Labor Contracts.

     None; not applicable.

Need for any Governmental Approval of Principal Products or Services.

     Because the Company currently  produces no products or services,  it is not
presently subject to any governmental regulation in this regard. However, in the
event that the Company  engages in a merger or acquisition  transaction  with an
entity  that  engages  in  such  activities,  it  will  become  subject  to  all
governmental  approval  requirements  to which the merged or acquired  entity is
subject.

Effect of Existing or Probable Governmental Regulations on Business.

     The integrated  disclosure system for small business issuers adopted by the
Commission  in  Release  No.  34- 30968 and  effective  as of August  13,  1992,
substantially  modified the information  and financial  requirements of a "Small
Business  Issuer,"  defined to be an issuer  that has  revenues of less than $25
million;  is a U.S. or Canadian issuer; is not an investment  company;  and if a
majority-owned subsidiary, the parent is also a small business issuer; provided,
however,  an entity is not a small business issuer if it has a public float (the
aggregate  market  value  of  the  issuer's   outstanding   securities  held  by
non-affiliates) of $25 million or more.

     The  Commission,  state  securities  commissions  and  the  North  American
Securities Administrators Association, Inc. ("NASAA") have expressed an interest
in adopting  policies that will streamline the registration  process and make it
easier for a small business issuer to have access to the public capital markets.
The present laws, rules and regulations  designed to promote availability to the
small  business  issuer of these  capital  markets and similar  laws,  rules and
regulations  that may be  adopted  in the future  will  substantially  limit the
demand for "blank  check"  companies  like the Company,  and may make the use of
these companies obsolete.

Research and Development.

     None; not applicable.

Cost and Effects of Compliance with Environmental Laws.

     None; not applicable.  However,  environmental  laws, rules and regulations
may have an adverse effect on

                                    Page -7-

<PAGE>



any  business  venture  viewed  by the  Company  as an  attractive  acquisition,
reorganization  or merger  candidate,  and these  factors may further  limit the
number  of  potential  candidates  available  to the  Company  for  acquisition,
reorganization or merger.

Number of Employees.

     None.

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

                        ITEM 2. DESCRIPTION OF PROPERTIES

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


The Company's does not  own any property


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

                            ITEM 3. LEGAL PROCEEDINGS

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


None.

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

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

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


No matters were  submitted to a vote of  shareholders  of the Company during the
fiscal year ended December 31, 2002.


                                     PART II

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

        ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

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


Market Information

     There is no  "public  market"  for shares of common  stock of the  Company.
Although  the  Company's  shares  are  quoted on the OTC  Bulletin  Board of the
National Association of Securities Dealers, the Company is unaware of any trades
having been consummated. In any event, no assurance can be given that any market
for the Company's common stock will develop or be maintained.

The ability of an individual  shareholder  to trade their shares in a particular
state may be subject to various rules and regulations of that state. A number of
states  require  that an issuer's  securities  be  registered  in their state or
appropriately  exempted from registration before the securities are permitted to
trade in that  state.  Presently,  the  Company  has no plans  to  register  its
securities in any particular  state.  Further,  most likely the Company's shares
will be  subject  to the  provisions  of  Section  15(g)  and Rule  15g-9 of the
Securities Exchange Act of 1934, as

                                    Page -8-

<PAGE>



amended (the "Exchange  Act"),  commonly  referred to as the "penny stock" rule.
Section 15(g) sets forth certain  requirements  for transactions in penny stocks
and Rule 15g-9(d)(1)  incorporates the definition of penny stock as that used in
Rule 3a51-1 of the Exchange Act.

     The Commission generally defines penny stock to be any equity security that
has a market  price less than $5.00 per  share,  subject to certain  exceptions.
Rule 3a51-1  provides that any equity security is considered to be a penny stock
unless that security is: registered and traded on a national securities exchange
meeting  specified  criteria set by the Commission;  authorized for quotation on
The NASDAQ Stock Market;  issued by a registered  investment  company;  excluded
from the  definition  on the basis of price (at  least  $5.00 per  share) or the
issuer's net tangible assets; or exempted from the definition by the Commission.
If the  Company's  shares are deemed to be a penny stock,  trading in the shares
will be subject to additional sales practice requirements on broker- dealers who
sell penny stocks to persons other than  established  customers  and  accredited
investors,  generally  persons  with  assets in excess of  $1,000,000  or annual
income exceeding $200,000, or $300,000 together with their spouse.

     For transactions covered by these rules, broker-dealers must make a special
suitability  determination  for the  purchase of such  securities  and must have
received  the  purchaser's  written  consent  to the  transaction  prior  to the
purchase.  Additionally,  for any  transaction  involving a penny stock,  unless
exempt,  the rules require the delivery,  prior to the first  transaction,  of a
risk disclosure  document  relating to the penny stock market.  A broker- dealer
also must disclose the  commissions  payable to both the  broker-dealer  and the
registered representative,  and current quotations for the securities.  Finally,
monthly  statements  must be sent  disclosing  recent price  information for the
penny stocks held in the account and  information on the limited market in penny
stocks. Consequently,  these rules may restrict the ability of broker-dealers to
trade and/or maintain a market in the Company's  Common stock and may affect the
ability of shareholders to sell their shares.

Holders

     The number of record  holders of the Company's  common stock as of the date
of this report is  approximately  32. The Company's  transfer agent is Interwest
Transfer Company, Inc., 1981 East Murray-Holiday Rd., Salt Lake City, Utah 84117

Dividends

     The Company has not declared any cash  dividends with respect to its common
stock and does not intend to declare  dividends in the foreseeable  future.  The
future dividend policy of the Company cannot be ascertained  with any certainty,
and until the Company completes any acquisition, reorganization or merger, as to
which no assurance may be given, no such policy will be formulated. There are no
material  restrictions  limiting,  or that are  likely to limit,  the  Company's
ability to pay dividends on its common stock.


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

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

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


Overview
--------

     The Company has not engaged in any material  operations or had any revenues
from operations since inception. The Company's plan of operation for the next 12
months  is to  continue  to  seek  the  acquisition  of  assets,  properties  or
businesses that may benefit the

                                    Page -9-

<PAGE>



Company and its  stockholders.  Management  anticipates that to achieve any such
acquisition,  the  Company  will issue  shares of its  common  stock as the sole
consideration for such acquisition.


Liquidity and Capital Resources
-------------------------------

In the past the  Company has paid its  expenses by selling  shares of its common
stock to its officers and directors and by officers'  contributions  to capital.
The  Company   anticipates  that  it  will  continue  to  pay  its  expenses  by
contributions from its officers.

Results of Operations
---------------------

The Company is a development  stage company and has had no operations during the
fiscal year ended December 31, 2002.


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

                          ITEM 7. FINANCIAL STATEMENTS

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


The  financial  statements  of the Company are included  following the signature
page to this form 10-KSB.


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

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

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


The Company has had no disagreements  with its certified public accountants with
respect to accounting practices or procedures of financial disclosure,  however,
there has been a change in the name of the  certified  public  accountants  from
Andersen Andersen & Strong LC to Sellers and Andersen LLC.


                                    PART III


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

        ITEM 9. DIRECTORS AND EXECUTIVE OFFICERS, PROMOTERS, AND CONTROL
           PERSONS; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT

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


General
-------

The  following  table sets  forth  certain  information  regarding  the  current
directors and executive officers of the Company:

                                    Page -10-

<PAGE>




                                                                POSITION
NAME               AGE                   TITLE                 HELD  SINCE
----               ---                   -----                 -----------

FRED  HEFFERON      50          PRESIDENT  AND  DIRECTOR     JANUARY  1999
                                SECRETARY/TREASURER          FEBRUARY 8, 2002

JOHN  RICHE         43          SECRETARY/TREASURER          JANUARY  1999 UNTIL
                                AND  DIRECTOR                FEBRUARY 8, 2002

     All directors hold office until the next annual meeting of stockholders and
until  their  successors  have been duly  elected  and  qualified.  There are no
agreements  with  respect to the  election  of  directors.  The  Company has not
compensated its directors for service on the Board of Directors or any committee
thereof.  As of the date  hereof,  no  director  has  accrued  any  expenses  or
compensation. Officers are appointed annually by the Board of Directors and each
executive  officer  serves  at the  discretion  of the Board of  Directors.  The
Company does not have any standing committees at this time.

     The business experience of each of the persons listed above during the past
five years is as follows:

Fred  Hefferon:  Director  and  President  since  January  1999  and  Secretary/
Treasurer since February 8, 2002

     Mr.  Hefferon has been employed since 1994 by Rite Aid Phamacies as a store
manager.  Prior to that he was employed by Payless Drug Stores for many years in
various  positions,  including  store manager.  Mr. Hefferon holds a Bachelor of
Science  Degree in Philosophy  and Political  Science which he received from the
University of Utah in 1974

John Riche:  Director,  Treasurer/Secretary  from January 1999 until February 8,
2002

     Since 1997 Mr.  Riche has been  employed by Pitney Bowes  Corporation  as a
sales  representative for the North West region. From 1995 to 1997 he worked for
Flying  J  Corporation  as  general  manager  for  Hotels.  Prior to that he was
involved in the hotel and motel  industry in various  positions,  including five
years as the general manager for the Sea Gypsy Hotel.

Compliance with Section 16(a) of the Exchange Act
-------------------------------------------------

Except as indicated below, to the knowledge of management,  during the past five
years, no present or former director,  executive  officer or person nominated to
become a director or an executive officer of the Company:

(1) filed a petition under the federal  bankruptcy laws or any state  insolvency
law, nor had a receiver,  fiscal agent or similar  officer  appointed by a court
for the business or property of such person,  or any partnership in which he was
a general partner at or within two years before the time of such filing;

(2) was  convicted  in a  criminal  proceeding  or named  subject  of a  pending
criminal proceeding (excluding traffic violations and other minor offenses);


                                    Page -11-

<PAGE>



(3) was the subject of any order, judgment or decree, not subsequently reversed,
suspended or vacated,  of any court of competent  jurisdiction,  permanently  or
temporarily enjoining him from or otherwise limiting, the following activities:

     (i) acting as a futures commission merchant,  introducing broker, commodity
     trading   advisor,   commodity  pool  operator,   floor  broker,   leverage
     transaction merchant,  associated person of any of the foregoing,  or as an
     investment advisor,  underwriter,  broker or dealer in securities, or as an
     affiliate  person,  director  or  employee of any  investment  company,  or
     engaging in or continuing  any conduct or practice in connection  with such
     activity;

     (ii) engaging in any type of business practice; or

     (iii)  engaging in any activity in connection  with the purchase or sale of
     any security or commodity or in connection with any violation of federal or
     state securities laws or federal commodities laws;

(4)  was the  subject  of any  order,  judgment,  or  decree,  not  subsequently
reversed,  suspended,  or vacated,  of any federal or state  authority  barring,
suspending or otherwise  limiting for more than 60 days the right of such person
to engage in any activity  described  above under this Item, or to be associated
with persons engaged in any such activity;

(5) was found by a court of competent  jurisdiction  in a civil action or by the
Securities  and  Exchange  Commission  to have  violated  any  federal  or state
securities  law,  and the  judgment  in such  civil  action  or  finding  by the
Securities  and  Exchange   Commission  has  not  been  subsequently   reversed,
suspended, or vacated.

(6) was found by a court of competent  jurisdiction  in a civil action or by the
Commodity  Futures Trading  Commission to have violated any federal  commodities
law, and the judgement in such civil action or finding by the Commodity  Futures
Trading Commission has not been subsequently reversed, suspended or vacated.

Since the Company ceased operations in 1990, the Company knows of no person, who
at any time  during  the  subsequent  fiscal  years,  was a  director,  officer,
beneficial  owner of more than ten percent of any class of equity  securities of
the  registrant  registered  pursuant to Section 12 ("Reporting  Person"),  that
failed to file on a timely basis any reports  required to be furnished  pursuant
to  Section  16 (a).  Based  upon a  review  of Forms 3 and 4  furnished  to the
registrant  under Rule 16a-3(d)  during its most recent fiscal year,  other than
disclosed below, the registrant knows of no Reporting Person that failed to file
the required reports during the most recent fiscal year or prior years.

The following table sets forth as of December 31, 2002, the name and position of
each Reporting Person that failed to file on a timely basis any reports required
pursuant to Section 16(a) during the most recent fiscal year or prior years.

              Name                   Position               Reports  Filed
              ----                   --------               --------------

              NONE

                                    Page -12-

<PAGE>




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

                         ITEM 10. EXECUTIVE COMPENSATION

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


Cash Compensation

There was no cash  compensation paid to any director or executive officer of the
Company during the fiscal years ended December 31, 2002, 2001, and 2000.

Bonuses and Deferred Compensation

None.


Compensation Pursuant to Plans

None.


Pension Table

None.


Other Compensation

None


Compensation of Directors

None.


Termination of Employment and Change of Control Arrangement

There  are no  compensatory  plans or  arrangements,  including  payments  to be
received from the Company, with respect to any person named in Cash Compensation
set out above  which  would in any way  result in  payments  to any such  person
because of his resignation,  retirement,  or other  termination of such person's
employment with the Company or its subsidiaries, or any change in control of the
Company,  or a change in the person's  responsibilities  following a changing in
control of the Company.

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

    ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

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



The  following  table  sets  forth  certain  information  furnished  by  current
management  concerning  the  ownership  of  common  stock of the  Company  as of
December  31,  2002,  of (i) each  person who is known to the  Company to be the
beneficial owner of more than 5 percent of the Common Stock;  (ii) all directors
and  executive  officers;  and (iii)  directors  and  executive  officers of the
Company as a group:



                                    Page -13-

<PAGE>



Name and Address                        Amount and Nature of            Percent
Beneficial Owner                        Beneficial Ownership            of Class
----------------                        --------------------            --------

Fred Hefferon (officer/dir)               12,500                         1.68%
1981 E.  Murray-Holladay Rd.
Salt Lake City, Utah 84117

John Riche (former officer/dir)          212,500                        28.62%
6595 S. W.  Cherry Hill Dr.
Beaverton, Oregon 97008

Russell Noerring                          50,000                         6.73%
5821 Emigration Canyon
Salt Lake City, Utah 84108

Christine Blakely                         56,250                         7.58%
5621 South Magic Island Lane
Murray, Utah 84107

Margaret E.  Miller (1)                   34,875                         4.70%
91 Wells Fargo
Dayton, Nevada 89403

Ricky Miller (1)                          36,000                         4.85%
91 Wells Fargo
Dayton, Nevada 89403

William Kurtzweg (1)                      33,750                         4.55%
11383 N.  78th St.
Scottsdale, Arizona 85008

Mary S.  Kurtzweg (1)                     24,750                         3.33%
11383 N.  78th St.
Scottsdale, Arizona 85008

Jane Gore                                 45,000                         6.06%
P.O. Box 6432
Scottsdale, Az 85261

All Officers and
Directors as a group                     212,500                        30.30%

(1)  Margaret E. Miller and Ricky  Miller are husband and wife as are William N.
Kurtzweg and Mary A. Kurtzweg and, as such, their combined holdings,  as husband
and wife, have been used to determine  whether they are the beneficial  owner of
five per cent or more of the outstanding shares.

NOTE:  The Company has been advised that each of the other persons  listed above
has sole voting power over the shares indicated above.


                                    Page -14-

<PAGE>


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

             ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

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


Transactions with Management and Others

Except as indicated below, and for the periods indicated, there were no material
transactions,  or series of similar  transactions,  since the  beginning  of the
Company's last fiscal year, or any currently proposed transactions, or series of
similar  transactions,  to which the Company was or is to be party, in which the
amount involved exceeds $60,000, and in which any director or executive officer,
or any  security  holder  who  is  known  by the  Company  to own of  record  or
beneficially  more than 5% of any class of the Company's  common  stock,  or any
member of the immediate family of any of the foregoing persons, has an interest.

Indebtedness of Management

There were no material  transactions,  or series of similar transactions,  since
the  beginning of the  Company's  last fiscal year,  or any  currently  proposed
transactions,  or series of similar transactions, to which the Company was or is
to be a party,  in which the amount  involved  exceeds  $60,000 and in which any
director  or  executive  officer,  or any  security  holder  who is known to the
Company  to own of  record  or  beneficially  more  than 5% of any  class of the
Company's  common  stock,  or any member of the  immediate  family of any of the
foregoing persons, has an interest.

Transactions with Promoters

There have no material  transactions  between the Company and its  promoters  or
founders.

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

                    ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

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


(a) (1) Financial Statements. The following financial statements are included in
        this report:


Title of Document                                                           Page
-----------------                                                           ----

Report of Sellers and Andersen, Certified Public Accountants                 18

Balance Sheets as of December 31, 2002                                       19

Statements of Operations for years ended December 31, 2002,  and 2001
      and the period March 28, 1983 to December 31, 2002                     20

Statements of Changes in Stockholders' Equity for the period March 28 1983
      to December 31, 2002                                                   21

                                    Page -15-

<PAGE>



Statements of Cash Flows for the years ended December 31, 2002, and
    2000 and the period March 28, 1983 to December 31, 2002                  22

Notes to Financial Statements                                                23

(a)(2)  Financial  Statement   Schedules.   The  following  financial  statement
        schedules are included as part of this report:

None.

(a)(3)  Exhibits.  The following exhibits are included as part of this report by
        reference:

99.1 Certifications, dated March 26, 2003, required by Section 906 of the Public
     Company Accounting Reform and Investor Protection Act of 2002 (18 U.S.C ss.
     1350, as adopted). Attached hereto

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

                                   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, thereunto duly authorized.

                                           WESTERN GLORY HOLE, INC.
                                           (Registrant)

  Dated: 26th day of March, 2003.          By: S/ Fred Hefferon
                                              ----------------------------------
                                           Fred Hefferon, President and Director



     Pursuant to the  requirements of the Securities  Exchange Act of 1934, this
report  has  been  signed  below  by the  following  persons  on  behalf  of the
registrant and in the capacities indicated on the 26th day of March, 2003.


 S/ Fred Hefferon
------------------------------
Fred Hefferon, Director, Chief
Executive Officer and Treasurer






                                    Page -16-

<PAGE>



                                 CERTIFICATIONS

I, as  President,  Chief  Executive  Officer,  Secretary,  and  Chief  financial
Officer, certify that:

     1. I have reviewed this annual report on Form 10-KSB of the Company;

     2. Based on my  knowledge,  this annual  report does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not misleading with respect the period covered by this annual report;

     3. Based on my knowledge,  the financial  statements,  and other  financial
information  included  in this annual  report,  fairly  present in all  material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this annual report;

     4.  The  registrant's  other  certifying  officers,   if  any,  and  I  are
responsible for establishing and maintaining  disclosure controls and procedures
(as defined in Exchange Act Rules 13a-14 and 15d-14) for the  registrant  and we
have:
          (a) designed such  disclosure  controls and  procedures to ensure that
     material information relating to the registrant, including its consolidated
     subsidiaries,  is  made  known  to  us by  others  within  those  entities,
     particularly  during  the  period  in which  this  annual  report  is being
     prepared;
          (b)  evaluated  the  effectiveness  of  the  registrant's   disclosure
     controls  and  procedures  as of a date  within 90 days prior to the filing
     date of this annual report ("Evaluation Date"); and
          (c)  presented  in  this  annual  report  our  conclusions  about  the
     effectiveness  of the  disclosure  controls  and  procedures  based  on our
     evaluation as of the Evaluation Date;

     5.  The  registrant's  other  certifying  officers,  if  any,  and  I  have
disclosed, based on our most recent evaluation, to the registrant's auditors and
the audit  committee of registrant's  board of directors (or persons  performing
the equivalent function):
          (a)  all  significant  deficiencies  in the  design  or  operation  of
     internal controls which could adversely affect the registrant's  ability to
     record,  process,  summarize and report  financial data and have identified
     for the registrant's auditors any material weaknesses in internal controls;
     and
          (b) any fraud,  whether or not material,  that involves  management or
     other employees who have a significant  role in the  registrant's  internal
     controls; and

     6. The registrant's other certifying officers, if any, and I have indicated
in this  annual  report  whether  or not there were any  significant  changes in
internal controls or in other factors that could  significantly  affect internal
controls  subsequent  to the date of our most recent  evaluation,  including any
corrective  actions  with  regard  to  significant   deficiencies  and  material
weaknesses.

Date: March 26, 2003                   S/ Fred Hefferon
                                       -----------------------------------------
                                       Fred Hefferon, President, CEO, SEC. & CFO



                                    Page -17-

<PAGE>



SELLERS AND ANDERSEN, L.L.C.
----------------------------
Certified Public Accountants and Business Consultants
Member SEC Practice Section of the AICPA          941 East 3300 South, Suite 202
                                                      Salt Lake City, Utah 84106
                                                          Telephone 801 486-0096
                                                                Fax 801 486-0098



Board of Directors
Western Glory Hole, Inc.
Salt Lake City, Utah

               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

We have audited the  accompanying  balance  sheets of Western  Glory Hole,  Inc.
(development  stage  company)  at  December  31,  2002  and  the  statements  of
operations,  stockholders'  equity,  and cash flows for the years ended December
31, 2002 and 2001 and the period March 28, 1983 (date of  inception) to December
31, 2002.  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
balance  sheet  presentation.  We believe  that our audits  provide a reasonable
basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material  respects,  the financial  position of Western Glory Hole,  Inc. at
December  31, 2002 and the results of  operations,  and cash flows for the years
ended  December  31,  2002 and 2001  and the  period  March  28,  1983  (date of
inception)  to December 31,  2002,  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.  The  Company  does  not  have the
necessary  working  capital  for its  future  planned  activity  , which  raises
substantial doubt about its ability to continue as a going concern. Management's
plans in  regard to these  matters  are  described  in Note 4.  These  financial
statements do not include any adjustments  that might result from the outcome of
this uncertainty.




Salt Lake City, Utah
March 10, 2003                                      s\Sellers and Andersen LLC

                                    Page -18-

<PAGE>

                            WESTERN GLORY HOLE, INC.
                          ( Development Stage Company)
                                  BALANCE SHEET
                                December 31, 2002

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



ASSETS
CURRENT ASSETS

   Cash                                                                $   --
                                                                       --------

       Total Current Assets                                            $   --
                                                                       ========


LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES

   Accounts payable                                                    $   --
                                                                       --------

       Total Current Liabilities                                           --
                                                                       --------

STOCKHOLDERS' EQUITY

   Common stock
         100,000,000 shares authorized, at $0.001 par value;
         742,500 shares issued and outstanding                              743

   Capital in excess of par value                                        49,088

   Deficit accumulated during the development stage                     (49,831)
                                                                       --------

       Total Stockholders' Deficiency                                      --
                                                                       --------

                                                                       $   --
                                                                       ========




   The accompanying notes are an integral part of these financial statements.

                                    Page -19-

<PAGE>



                            WESTERN GLORY HOLE, INC.
                          ( Development Stage Company)
                            STATEMENTS OF OPERATIONS
             For the Years Ended December 31, 2002 and 2001 and the
         Period March 28, 1983 (Date of Inception) to December 31, 2002

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

                                                               March 28,  1983
                               Dec 31,          Dec 31,      (Date of Inception)
                                2002             2001          to Dec 31, 2002
                              ---------        ---------        --------------

REVENUES                      $    --          $    --          $         --

EXPENSES                          3,430            2,055                49,831
                              ---------        ---------        --------------

NET LOSS                      $  (3,430)       $  (2,055)       $      (49,831)
                              =========        =========        ==============




NET LOSS PER COMMON
   SHARE

   Basic                      $    --          $    --
                              ---------        ---------



AVERAGE  OUTSTANDING
    SHARES

     Basic                      742,500          742,500
                              ---------        ---------












   The accompanying notes are an integral part of these financial statements.

                                    Page -20-

<PAGE>
<TABLE>
<CAPTION>

                                             WESTERN GLORY HOLE, INC.
                                           ( Development Stage Company)
                                   STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
                          Period March 28, 1983 (Date of Inception) to December 31, 2002

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

                                                                                    Capital in
                                                          Common Stock              Excess of      Accumulated
                                                     Shares          Amount         Par Value        Deficit
                                                  ------------    ------------    ------------    ------------
<S>                                               <C>             <C>             <C>             <C>
Balance March 28,  1983 (date of inception)               --      $       --      $       --      $       --

Issuance of common stock for cash                       45,000              45           1,955            --
    at $.044 - February 9, 1989
Issuance of common stock for cash                       40,500              41           1,759            --
   at $.044 - May  13, 1989
Issuance of common stock for cash
    at $.044 - July 17, 1989                            27,000              27           1,173            --
Net operating loss for the year ended
    December 31, 1989                                     --              --              --            (5,000)
Issuance of common stock for cash
    at $.044 - January 25, 1990                        180,000             180           7,820            --
Issuance of common stock for cash
    at $.044 - March 15, 1990                          135,000             135           5,865            --
Issuance of common stock for cash
    at $.067 - June 19, 1990                            90,000              90           5,910            --
Net operating loss for the year ended
    December 31, 1990                                     --              --              --           (20,000)
Issuance of common stock for cash
    at $.20 - May 28, 1999                              25,000              25           4,975            --
Issuance of common stock for cash
    at $.05 - private offering - December 1999         200,000             200           9,800            --
Contribution to capital - expenses                        --              --               235            --
Net operating loss for year ended
    December 31, 1999                                     --              --              --           (15,735)
Contributions to capital - expenses                       --              --             2,511            --
Net operating loss for year ended
    December 31, 2000                                     --              --              --            (3,611)
Contributions to capital - expenses                       --              --             3,655            --
Net operating loss for the year
   ended December 31, 2001                                --              --              --            (2,055)
Contributions to capital - expenses                       --              --             3,430            --
Net operating loss for the year
   ended December 31, 2002                                --              --              --            (3,430)
                                                  ------------    ------------    ------------    ------------

Balance December 31, 2002                              742,500    $        743    $     49,088    $    (49,831)
                                                  ============    ============    ============    ============


                    The accompanying notes are an integral part of these financial statements.

                                                     Page -21-
</TABLE>

<PAGE>
<TABLE>
<CAPTION>
                                       WESTERN GLORY HOLE, INC.
                                     ( Development Stage Company)
                                       STATEMENT OF CASH FLOWS
                        For the Years Ended December 31, 2002 and 2001 and the
                    Period March 28, 1983 (Date of Inception) to December 31, 2002

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


                                                                                    March 28, 1983
                                                          Dec 31,      Dec 31,   (Date of Inception)
                                                           2002         2001       to Dec 31, 2002
                                                         --------     --------     --------------
<S>                                                      <C>          <C>          <C>
CASH FLOWS FROM
   OPERATING ACTIVITIES

   Net loss                                              $ (3,430)    $ (2,055)    $      (49,831)

       Adjustments to reconcile net loss to
       net cash provided by operating
       activities

              Changes in accounts payable                    --         (1,600)             1,600
              Contributions to capital                      3,430        3,655              8,231
                                                         --------     --------     --------------

          Net Cash Used in Operations                        --           --              (40,000)
                                                         --------     --------     --------------

CASH FLOWS FROM INVESTING
   ACTIVITIES
                                                             --           --                 --
                                                         --------     --------     --------------
CASH FLOWS FROM FINANCING
   ACTIVITIES

   Proceeds from issuance of common stock                    --           --               40,000
                                                         --------     --------     --------------
   Net Increase (Decrease) in Cash                           --           --                 --

   Cash at Beginning of Period                               --           --                 --
                                                         --------     --------     --------------

   Cash at End of Period                                 $   --       $   --       $         --
                                                         ========     ========     ==============

NON CASH FLOWS FROM OPERATING ACTIVITIES

Contributions to capital - expenses - related parties    $  3,430     $  3,655     $        8,231
                                                         --------     --------     --------------



              The accompanying notes are an integral part of these financial statements.

                                              Page -22-
</TABLE>

<PAGE>

                            WESTERN GLORY HOLE, INC.
                          ( Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                                December 31, 2002

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


1.     ORGANIZATION

The Company was incorporated under the laws of the State of Nevada on March 28,
1983 with the name of "L. Peck Enterprises, Inc." with authorized common stock
of 2,500 shares at no par value. On May 27, 1999 the authorized capital stock
was increased to 100,000,000 shares with a par value of $0.001 in connection
with a name change to "Western Glory Hole, Inc".

On May 27, 1999 the Company completed a forward common stock split of 225 shares
for each outstanding share. This report has been prepared showing after stock
split shares with a par value of $.001 from inception.

The Company has been engaged in the activity of seeking and developing mining
properties and became inactive after 1990.

2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting Methods
------------------

The Company recognizes income and expenses based on the accrual method of
accounting.


Dividend Policy
---------------

The Company has not adopted a policy regarding payment of dividends.


Income Taxes
------------

At December 31, 2002 the Company had a net operating loss carry forward of
$49,831. The tax benefit of approximately $14,949 from the loss carry forward
has been fully offset by a valuation reserve because the use of the future tax
benefit is undeterminable since the Company has no operations. The net operating
loss will expire starting in 2005 through 2023.


Basic and Diluted Net Income (Loss) Per Share
---------------------------------------------

Basic net income (loss) per share amounts are computed based on the weighted
average number of shares actually outstanding. Diluted net income (loss) per
share amounts are computed using the weighted average number of common shares
and common equivalent shares outstanding as if shares had been issued on the
exercise of the preferred share rights unless the exercise becomes antidilutive
and then only the basic per share amounts are shown in the report.




                                    Page -23-

<PAGE>


                            WESTERN GLORY HOLE, INC.
                          ( Development Stage Company)
                    NOTES TO FINANCIAL STATEMENTS (Continued)
                                December 31, 2002

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

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Financial Instruments
---------------------

The carrying amounts of financial instruments are considered by management to be
their estimated fair values.


Statement of Cash Flows
-----------------------

For the purposes of the statement of cash flows, the Company considers all
highly liquid investments with a maturity of three months or less to be cash
equivalents.


Financial and Concentrations Risk
---------------------------------

The Company does not have any concentration or related financial credit risk.


Revenue Recognition
-------------------

Revenue is recognized on the sale and delivery of a product or the completion of
a service provided.


Advertising and Market Development
----------------------------------

The company expenses advertising and market development costs as incurred.


Estimates and Assumptions
-------------------------

Management uses estimates and assumptions in preparing financial statements in
accordance with generally accepted accounting principles. Those estimates and
assumptions affect the reported amounts of the assets and liabilities, the
disclosure of contingent assets and liabilities, and the reported revenues and
expenses. Actual results could vary from the estimates that were assumed in
preparing these financial statements.


Recent Accounting Pronouncements
--------------------------------

The Company does not expect that the adoption of other recent accounting
pronouncements will have a material impact on its financial statements.

3.  SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

Officers-directors  and  former  officers-directors  have  acquired  30%  of the
outstanding common stock of the Company and made contributions to capital by the
payment of Company expenses amounting to $8,231.

                                    Page -24-

<PAGE>

                            WESTERN GLORY HOLE, INC.
                          ( Development Stage Company)
                    NOTES TO FINANCIAL STATEMENTS (Continued)
                                December 31, 2002

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


4.  GOING CONCERN

The Company intends to acquire interests in various business opportunities
which, in the opinion of management, will provide a profit to the Company,
however there is insufficient working capital for any future planned activity.

Continuation of the Company as a going concern is dependent upon obtaining
additional working capital and the management of the Company has developed a
strategy, which it believes will accomplish this objective through additional
contributions to capital by payment of Company expenses, and additional equity
funding which will enable the Company to conduct operations for the coming year.






                                    Page -25-