================================================================================

                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

                    For the Fiscal Year Ended March 31, 2003

              |_| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                  For the Transition Period From _____ to ____


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

                        Commission File Number 000-27339


                             EDISON RENEWABLES, INC.
              (Exact name of small business issuer in its charter)

                        Nevada                                 88-0343832
            (State or other jurisdiction of                 (I.R.S. Employer
            incorporation or organization)                 Identification No.)

              1940 Deer Park Avenue, #390
                  Deer Park, New York                             11729
       (Address of principal executive offices)                (Zip Code)


         Issuer's telephone number, including area code: (516) 977-3425

                  Securities registered under Section 12(b) of
the Exchange Act:

                              Name of Each Exchange
                     Title of Each Class on Which Registered
                  ------------------- -------------------------

                                      None
     ----------------------------------- -----------------------------------

         Securities registered under Section 12(g) of the Exchange Act:

                          Common Stock, $.001 par value
                                (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. Yes | | No | |


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

State issuer's revenues for its most recent fiscal year: $ 0.

The  aggregate  market value of the common stock held by  non-affiliates,  based
upon the closing price of such stock as of June 18, 2003, was $ 621,950.

      ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS

     Check whether the issuer has filed all documents and reports required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the  distribution  of
securities under a plan confirmed by a court. Yes |_| No |_|

                    APPLICABLE ONLY TO CORPORATE REGISTRANTS

The number of shares outstanding of the issuer's common stock as of June 18,
2003 was 214,475 shares.

                    DOCUMENTS INCORPORATED BY REFERENCE: none
================================================================================


<PAGE>


                                     PART I

Item 1.  Description of Business.

Edison Renewables,  Inc. was incorporated on August 28, 1995 in Nevada under the
name of  Professional  Mining  Consultants,  Inc. On May 15,  2000,  the company
changed its name to  AudioMonster  Online,  Inc. On March 13, 2001,  the company
changed its name to Lockwave Technologies, Inc. On May 5, 2003 the company again
changed its name to Edison Renewables,  Inc. The company currently plans to seek
opportunities  to develop  business in the  renewable  energy  market  which may
include  acquisitions or business  combinations  with operating  companies.  The
company   currently  is  not  operating  and  is  only  incurring   general  and
administrative costs.

The corporate address of the company is 1940 Deer Park Avenue,  #390, Deer Park,
NY 11729 and its telephone and fax number is (516) 977-3425.

Since we are  currently  not  operating we have no  dependence on any
customers.  We do  not  have  any  patents,  trademarks,  licenses,  franchises,
concessions,  royalty  agreements or labor contracts.

The company files reports with the  Securities  and Exchange  Commission and the
public may read and copy any  materials we file with the SEC at the SEC's Public
Reference Room at 450 Fifth Street, N.W., Washington, D.C. 20549. The public may
obtain  information on the operation of the Public Reference Room by calling the
SEC at 1-800-SEC-0330. The SEC maintains an Internet site that contains reports,
proxy and information  statements,  and other information regarding issuers such
as the company that files  electronically  with the SEC and state the address of
that site  (http://www.sec.gov).

Other than our sole director and officer Paul Steo, we currently do not have any
employees.

Item 2. Description of Property.

The company has no properties  and at this time has no agreements to acquire any
properties.  We currently use office space at our address on an "at will" basis.
We do not pay any rent for the use of this space.

Item 3. Legal Proceedings.

The company is not a party to any pending legal  proceedings and, to the best of
its  knowledge,   no  such  action  by  or  against  it  has  been   threatened.
Additionally,  to the best of our knowledge, none of our officers, directors, or
beneficial  owners  of 5% or more of our  outstanding  securities  is a party to
proceedings adverse to the company nor do any of the foregoing  individuals have
a material  interest adverse to the company.

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

Holders

During the fourth quarter of the fiscal year ended March 31, 2003, the following
actions  were  approved  by written  consent of the  majority  of the  company's
stockholders:

-    Amendment to our Articles of  Incorporation  to change the name of Lockwave
     Technologies, Inc. to "Edison Renewables, Inc.";


                                1

<PAGE>


-    Amendment to our Articles of  Incorporation to provide for the authority to
     issue shares of preferred stock;

-    Amendment  to our  Articles of  Incorporation  to increase  our  authorized
     shares of common stock from 50,000,000 to 200,000,000;

-    Amendment to our Articles of  Incorporation to give effect to a one-for-two
     hundred  reverse  stock split of our issued and  outstanding  shares of our
     common stock;

-    Approval of the Lockwave Technologies, Inc. 2003 Equity Participation Plan.

We  received  the  consent of  approximately  59% of the issued and  outstanding
shares of our common stock for the actions described above.

                                     PART II

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

Edison  Renewables  common  stock trades in the  over-the-counter  market and is
quoted on the OTC  Bulletin  Board.  Before we changed  our name from  "Lockwave
Technologies,  Inc." to "Edison Renewables,  Inc.", our trading symbol was LWTI.
Our trading symbol  changed to ERNW with our name change.  As of May 19, 2003 we
had 214,475 shares of common stock issued and outstanding.

The following table sets forth, for the periods indicated,  the high and low bid
prices per share of our common stock as quoted on the OTC Bulletin Board.  Prior
to our 1 for 200 reverse stock split on May 19, 2003 we had 42,895,000 shares of
common stock issued and outstanding.

Source: www.otcbb.com

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                High    Low
                                ----    ---
        2002 Fiscal Year
        ----------------

        First Quarter          $.011   $.007
        Second Quarter          .008    .0011
        Third Quarter           .021    .001
        Fourth Quarter          .005    .002

        2001 Fiscal Year
        ----------------

        First Quarter          $.34    $.035
        Second Quarter          .04     .0101
        Third Quarter           .015    .0101
        Fourth Quarter          .015    .0101


</TABLE>

As of June 18, 2003, the last reported sale price of the company's  stock was $7
per share.

                                2


<PAGE>

Dividend Policy

No  dividends  have been paid by the  company  since  its  inception.  We do not
anticipate  paying  dividends on our common stock in the foreseeable  future but
plan  to  retain  earnings,  if any,  for the  operation  and  expansion  of our
business.

Holders

There were 327  stockholders  of record of the company's  common stock as of May
19, 2003.

Securities Authorized for Issuance under Equity Compensation Plans

Edison  Renewables  adopted its 2003 Equity  Participation  Plan on February 24,
2003.  Our  Shareholders  approved the adoption of the plan by majority  written
consent on the same day. No  securities  have been  granted or issued under this
plan.

Recent  Sales  of  Unregistered  Securities;  Use of  Proceeds  from  Registered
Securities

none

Item 6. Management's Discussion and Analysis or Plan of Operation.


Forward Looking Statements

The  following  discussion  should  be read in  conjunction  with the  financial
statements of the company and related notes  included  elsewhere in this report.
All statements contained herein (other than historical facts) including, but not
limited to,  statements  regarding the company's future  development  plans, the
company's  ability to generate cash from its  operations  and any losses related
thereto,  are based upon  current  expectations.  These  statements  are forward
looking  in nature  and  involve a number  of risks  and  uncertainties.  Actual
results may differ materially from the anticipated results or other expectations
expressed in the company are forward-looking  statements.  Generally,  the words
"anticipate,"  "believe,"  "estimate,"  "expects,"  "will,"  "plans" and similar
expressions as they relate to the company and/or its management, are intended to
identify forward-looking  statements.  Among the factors that could cause actual
results to differ  materially  could be the  inability  of the company to obtain
additional  financing  to meet  its  capital  requirements,  needs  and  general
business and economic conditions as well as technological developments.

Critical Accounting Policy and Estimates

Our Management's  Discussion and Analysis of Financial  Condition and Results of
Operations section discusses our consolidated  financial statements,  which have
been prepared in accordance with accounting principles generally accepted in the
United States of America. The preparation of these financial statements requires
management to make estimates and assumptions that affect the reported amounts of
assets and liabilities at the date of the financial  statements and the reported
amounts of revenues and expenses  during the  reporting  period.  On an on-going
basis, management evaluates its estimates and judgments, including those related
to  revenue   recognition,   accrued   expenses,   financing   operations,   and
contingencies and litigation. Management bases its


                                3

<PAGE>


estimates and judgments on  historical  experience  and on various other factors
that are believed to be reasonable under the circumstances, the results of which
form the basis for  making  judgments  about the  carrying  value of assets  and
liabilities that are not readily apparent from other sources. Actual results may
differ from these estimates under different assumptions or conditions. There are
no significant accounting estimates inherent in the preparation of our financial
statements.

Overview

The company has a limited history of operations and no history of profitability.
It was incorporated as Professional Mining Consultants,  Inc. ("PFMC") on August
28, 1995 in the state of Nevada.  The company was  originally  organized for the
purpose of setting up a mining  consultant and engineering  office in Las Vegas,
Nevada.  In September 1999, the company abandoned its original business plan and
decided to seek a company or companies to acquire or with whom to merge.

The company's  common stock underwent a 2 for 1 split effective on May 16, 2000.
This  increased  the number of shares  outstanding  from  4,890,000 to 9,780,000
without  changing the authorized  number of shares of common stock. No change in
the rights or ownership  percentage of the holders  occurred as a result of this
split.

On May 12, 2000 the company then named PFMC, merged with a company then known as
591519 BC Ltd. (d.b.a. AudioMonster Online). The company was the legal acquirer.
Upon  completion of the  transaction,  the company changed its name from PFMC to
AudioMonster Online, Inc. For accounting purposes,  this acquisition was treated
as a recapitalization of 591519 BC Ltd. (d.b.a. AudioMonster Online).

On June 5, 2000 591519 BC Ltd. changed its name to AudioMonster  Online, Inc. As
a result two corporations  existed with the name AudioMonster Online, Inc.; one,
the company,  in Nevada, and one in British Columbia,  with the British Columbia
company as a subsidiary of the company.

On  September  25,  2000 the  company,  then  named  AudioMonster,  merged  with
Lockwave,  Inc. and Paul Steo became a director of the company.  The company had
no  assets  or  liabilities  at the time of the  merger.  This  transaction  was
accounted for as a reverse acquisition  whereby Lockwave,  Inc. was the acquirer
of the company for accounting purposes.

On  September  27, 2000 the company  abandoned  its  AudioMonster  online  music
business  plan and decided to focus all  resources on  completing  the Lockwave,
Inc.  merger and  implementing  the  Lockwave,  Inc.  business  model of seeking
opportunities to develop business in the virtual storage market.

On January 24, 2001  pursuant to the terms of the Lockwave  merger  agreement as
amended, 100% of the outstanding common stock of Lockwave,  Inc. was acquired by
the company in exchange  for  24,125,000  shares of common  stock of the company
which were  issued to Imojo  Inc.,  and cash  consideration  of  $2,000,000  was
payable to Imojo (excluding amounts  previously paid). As a result,  Imojo owned
approximately 65% of the outstanding shares of the company. This transaction was
accounted for as a reverse acquisition  whereby Lockwave,  Inc. was the acquirer
of the company for accounting  purposes.  The historical financial statements of
Lockwave,  Inc., prior to the January 24, 2001 transaction,  became those of the
company.

No payments of the  $2,000,000  cash portion of the merger were made.  They were
scheduled to be paid on the following dates:  February 1, 2001, $250,000;  March
1, 2001, $250,000;  April 1,2001, $500,000; May 1, 2001, $500,000; June 1, 2001,
$500,000.

                                4


<PAGE>


Since Imojo lost the ability to provide  services to the  company,  an agreement
was made waiving payment of the $2,000,000.  The $2,000,000  payable was removed
from the company's books to fully reflect this transaction.

On March 31, 2001, the company changed its name to Lockwave  Technologies,  Inc.
On May 5, 2003, the company changed its name to Edison  Renewables,  Inc. On May
19, 2003 the company's  common stock  underwent a 1 for 200 reverse split.  This
decreased the number of shares  outstanding  from  42,895,000 to 214,475 without
changing the number of shares of common stock authorized for issuance or the par
value. No change in the rights or ownership  percentage of the holders  occurred
as a result of the reverse split.

The company cancelled the following shares of common stock for services:

On October 22, 2002 the company  canceled  an  aggregate  of 2,925 (post  split)
shares of its common stock that were issued as compensation for Internet related
services  to be  provided  on the  company's  behalf.  The  services  were never
completed.

As of March 31, 2003 the company had a total stockholders'  deficit of $ 60,029.

See  Notes  to the  Financial  Statements  for a  description  of the  company's
significant accounting policies.

Results of Operations

The company had no operations  prior to October 12, 1999,  and had only incurred
minimal  start-up  expenses  as of that  date.  There  were only  administrative
operations  for the year ended  March 31,  2003,  in which  payment  was made by
advances by a shareholder.  Net revenues for the year were $0 and net income was
$ 6,164.  For the previous year the company had operations  with net revenues of
$0 and a net loss for the period of $110,083.

Liquidity and Capital Resources

As of March 31, 2003, the company had a cash balance of $0. The company's  total
deficit accumulated during the development stage was $359,219 at March 31, 2003.
The company's total liabilities are $60,029,  which represents  accrued expenses
and advances by a shareholder.

The company's cash on hand is insufficient  to fund its current  operating needs
and the company is currently not  generating  any revenue.  The company plans to
fund its  general  operating  needs by  advances  from a  shareholder  until the
company finds an opportunity to develop business in the renewable energy market.
We currently have not  established  any terms for the repayment of any advances.
In order to raise  capital  in the  foreseeable  future,  we may  offer and sell
equity  securities  or  convertible  debt. We expect that the sale of additional
equity securities or convertible debt will result in additional  dilution to our
stockholders. The company can give no assurance that it will be able to generate
adequate funds from operations,  that funds will be available to us from debt or
equity financing, or that if available,  the company will be able to obtain such
funds on favorable terms and conditions. If the company cannot secure additional
funds it will not be able to continue as a going concern.  The company currently
has no definitive arrangements with respect to additional financing.

Plan of Operations

The company ceased the development of the Lockwave Technologies business plan in
September,  2001 to explore other  business  opportunities  and to raise working
capital to facilitate  its plans to change its business  direction.  The company
currently  plans to seek  opportunities  to develop  business  in the  renewable
energy  market  which may include  acquisitions  or business  combinations  with
operating  companies.

                                5

<PAGE>


Item 7. Financial  Statements.

The financial statements required by this item are included in this report after
Part III Item 14, beginning after page 8.

Item  8.  Changes  In and  Disagreements  With  Accountants  on  Accounting  and
Financial Disclosure.

On January 13, 2003,  Merdinger,  Fruchter,  Rosen and Company, P.C. resigned as
our  auditors  and  we  engaged  Abrams  and  Company,  P.C.  as  our  principal
accountants  to audit our  financial  statements.  The  engagement of Abrams and
Company  was  approved  by the  Company's  Board  of  Directors.  There  were no
disagreements with the Former Accountants. We filed a Current Report on Form 8-K
disclosing the foregoing on January 21, 2003.

                                    PART III

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

Management

The following  table sets forth the name, age and position of our sole executive
officer and director:

  Name                     Age     Position and Officers with
                                             the Company
------------------------------------------------------------

Paul S. Steo               26      President, Secretary,
                                   Treasurer and Director


Paul Steo has been our sole officer and sole  director  since  January 24, 2001.
Mr. Steo currently handles the administrative  duties for the company.  Prior to
obtaining  the position with Edison  Renewables,  Mr. Steo worked as a financial
operations  analyst for a division of Ambac  Financial  Group.  Mr. Steo holds a
B.S. in Accounting from Binghamton University.

Item 10. Executive Compensation.

No salary  compensation  has been paid to the current  officers and directors of
the company.

On January 11, 2002 the company issued 5,000 (post split) shares of common stock
to the President  valued at $10,000,  the fair value of the stock  issued,  in a
private transaction. The shares are unregistered and subject to sale limitations
under Securities Act Rule 144.

Officers and directors are eligible to receive stock options,  restricted  stock
and other grants out of the company's 2003 Equity Participation Plan.

                                6

<PAGE>


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

The  following  table  sets forth  certain  information,  as of March 31,  2003,
regarding beneficial ownership of our common stock by

-    each  stockholder  known by us to be the beneficial owner of more than five
     percent (5%) of the outstanding shares of common stock;
-    each of our directors;
-    each of the named executive  officers;  and
-    all of our current executive officers and directors as a group.

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

        Name of         Number of Shares (Post Split)
Beneficial Owner        Beneficially Owned              Percent of Class
----------------        ------------------------       ---------------------

Corey Morrison(1)               120,625                         55.48%
1940 Deer Park Avenue, #390
Deer Park, New York  11729

Paul S. Steo                      5,000                           2.3%
1940 Deer Park Avenue, #390
Deer Park, New York  11729

All executive Officers and
Directors as a group              5,000                           2.3%

</TABLE>


(1) The record holder of these shares is Imojo Group,  LLC, a limited  liability
company which is wholly owned by Corey Morrison.

Item 12. Certain Relationships and Related Transactions.

During the year ended  March 31,  2003,  and 2002 a  stockholder  paid  expenses
totaling $23,711, and $15,675, respectively. These advances bear no interest and
are due upon demand.

The company neither owns nor leases any real or personal property. A shareholder
of the  company  provides  the  company  with the use of office  space and other
services without charge.  Such costs are immaterial to the financial  statements
and,  accordingly,  have not  been  reflected  therein.  These  individuals  are
involved in other business activities and may, in the future, become involved in
other business opportunities.

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

     2.1  Agreement  and Plan of Merger  dated  September  25,  2000,  including
          exhibits  (incorporated by reference to the amended Form 8-K, filed on
          February 7, 2001).

                                7

<PAGE>


     2.2  Amendment  to  Agreement  and Plan of Merger  dated  January  24, 2001
          (incorporated  by reference to the amended Form 8-K, filed on February
          7, 2001).

     3.1  Articles of Incorporation

     3.2  Certificate of Amendment to Articles of Incorporation, as filed on May
          15, 2000.

     3.3  Certificate  of  Amendment to Articles of  Incorporation,  as filed on
          March 13, 2001.

     3.4  Certificate of Amendment to Articles of Incorporation, as filed on May
          5, 2003.

     3.5  Bylaws. (1)

     21   Subsidiaries

          AMOL, Inc. - Incorporated in Delaware

     99.1 Certificate of the Chief Executive Officer and Chief Financial Officer
          Pursuant to 18 U.S.C  Section 1350 as adopted  pursuant to Section 906
          Of Sarbanes-Oxley Act of 2002.

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

(1)  Incorporated  herein by  reference  to Exhibit  3.2 to the  company's  Form
     10SB12G/A filed with the Securities and Exchange Commission on February 28,
     2000.

Reports on Form 8-K:

On January 21, 2003,  the company filed a Form 8-K regarding the  resignation of
its former auditor and engagement of its current auditor.

Item 14. Controls and Procedures

An evaluation  was performed  within the last ninety days by the company's  sole
officer,  of the  effectiveness  of the design and  operation  of the  company's
disclosure  controls and procedures and its internal controls and procedures for
financial  reporting.  Based on that  evaluation,  the  company's  sole  officer
concluded that the company's  disclosure  controls and procedures were effective
as of March 31, 2003. The company's goal is to monitor  disclosure  controls and
internal controls and to make  modifications as necessary so that these controls
are dynamic systems that change as conditions warrant.

                                8

<PAGE>



                             EDISON RENEWABLES, INC.
                          (A Development Stage Company)

                        CONSOLIDATED FINANCIAL STATEMENTS



       CONTENTS

                                                                     PAGE

INDEPENDENT AUDITORS' REPORT                                         F-1

CONSOLIDATED BALANCE SHEETS                                          F-2

CONSOLIDATED STATEMENTS OF OPERATIONS                                F-3

CONSOLIDATED STATEMENTS OF CASH FLOWS                                F-4

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT                     F-5

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS                           F-6




<PAGE>

Abrams & Company, P.C.
Greater Than Account

                          INDEPENDENT AUDITORS' REPORT

TO THE BOARD OF  DIRECTORS  AND  STOCKHOLDERS  OF
EDISON  RENEWABLES,  INC.  AND SUBSIDIARY:

We  have  audited  the  accompanying   consolidated   balance  sheet  of  Edison
Renewables, Inc. (formerly known as Lockwave Technologies,  Inc.) and subsidiary
(a Development Stage Company) as of March 31, 2003 and the related  consolidated
statements of operations, stockholders' deficit and cash flows for the year then
ended,  and for the period from inception  (October 12, 1999) to March 31, 2003.
These financial  statements are the responsibility of the Company's  management.
Our responsibility is to express an opinion on these financial  statements based
on our  audit.  The  Company's  financial  statements  as of and for the  period
October  12,  1999  (inception)  through  March 31,  2002 were  audited by other
auditors whose report,  dated June 25, 2002, expressed an unqualified opinion on
those  statements.  The  financial  statements  for the period  October 12, 1999
(inception)  through March 31, 2002 reflect total  revenues and net loss of $-0-
and $365,383,  respectively,  of the related totals.  The other auditors' report
has been furnished to us, and our opinion,  insofar as it relates to the amounts
included  for such  prior  period,  is based  solely on the report of such other
auditors.

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

In our opinion,  based on our audit and the report of the other  auditors,  such
consolidated  financial  statements  referred to above  present  fairly,  in all
material  respects,  the consolidated  financial  position of Edison Renewables,
Inc. and  Subsidiary as of March 31, 2003, and the  consolidated  results of its
operations  and its cash flows for the year then ended,  and for the period from
October 12, 1999  (inception)  to March 31, 2003 in conformity  with  accounting
principles generally accepted in the United States of America.

The accompanying  consolidated  financial statements have been prepared assuming
that the company will continue as a going concern. As described in Note 1 to the
accompanying  consolidated financial statements,  the Company has no established
source of revenue,  has incurred  significant  operating  losses to date and has
negative  cash  flow  from  operations.  Management's  plans in  regard to these
matters are also described in Note 1. These consolidated financial statements do
not  include  any  adjustments  that  might  result  from  the  outcome  of this
uncertainty.

  /s/ Abrams and Company, P.C.
------------------------------
Abrams and Company, P.C.
Certified Public Accountants

June 4, 2003

Certified Public Accountants
Suite 4 South 1
One Huntington Quadrangle
Melville, N.Y.  11747-4406
T(631) 454-9393
F(631) 454-6228

                                F-1

<PAGE>


                             EDISON RENEWABLES, INC.
                          (A Development Stage Company)
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                                              March 31,
                                                 -------------------------------------------
                                                       2003                     2002
                                                 ---------------------   --------------------
  ASSETS
CURRENT ASSETS
  Cash and cash equivalents                     $                  -     $                 -
                                                ----------------------  ---------------------
    Total assets                                $                  -     $
                                                =====================   =====================

  LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
 Accounts payable                               $         20,643         $        32,968
 Advances from stockholder                                39,386                  15,675
                                                ---------------------   --------------------
  Total current liabilities                               60,029                  48,643

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

STOCKHOLDERS' DEFICIT
 Common stock, $0.001
par value;
  200,000,000
shares authorized,
  214,475 and 217,400                                        214                     217
shares issued and outstanding
 Additional paid-in-capital                              298,976                 316,523
 Deficit accumulated during the development stage       (359,219)               (365,383)
                                                 ---------------------    -------------------
  Total stockholders' deficit                            (60,029)               ( 48,643)
                                                 ---------------------   --------------------

  Total liabilities and stockholders' deficit    $               -        $              -
                                                 =====================   ====================
</TABLE>






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

                                F-2

<PAGE>



                             EDISON RENEWABLES, INC.
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                                                                                    October 12,
                                                                                                       1999
                                                                       Year Ended                  (inception) to
                                                                       March 31,                     March 31,
                                                        -----------------------------------------
                                                             2003                  2002               2003
                                                        --------------------  -------------------  ---------------------
                                                        --------------------  -------------------  ---------------------

Revenue                                                 $                  -  $                 -    $               -

Product and website development                                            -                    -              164,130
General and administrative expenses                                    6,164              110,083              195,089
                                                        --------------------  -------------------  ---------------------

Loss from operations before provision for income taxes                 6,164             (110,083 )       (    359,219 )


Provision for income taxes                                                -                    -                    -
                                                        --------------------  -------------------  ---------------------
Net profit (loss)                                       $              6,164  $          (110,083 )  $     (   359,219 )
                                                        ====================  ===================  =====================

Net loss per share - basic and diluted - giving         $              0.03   $        (     0.74 )  $     (      1.56 )
retroactive effect to 1 for 200 reverse stock split
                                                        ====================  ===================  =====================


Weighted average number of common shares
outstanding - giving retroactive effect to 1 for 200                 216,275              148,927              166,180
reverse stock split
                                                         ====================  ===================  =====================



</TABLE>





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


                                F-3

<PAGE>


                             EDISON RENEWABLES, INC.
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS



<TABLE>
<CAPTION>
<S>                                                                                                                            <C>
                                                                                                                 October 12,
                                                                                 Year Ended                      1999(Inception)
                                                                                March 31,                        to March 31,
                                                                  ------------------------------------------
                                                                          2003                   2002                2003
                                                                  ------------------   ---------------------   ---------------------

     CASH FLOWS FROM OPERATING ACTIVITIES
     Net profit (loss)                                                     $  6,164           $   (110,083 )   $    (359,219)
     Adjustments to reconcile net loss to net cash
     provided by operating activities:
        Cancellation of shares previously issued for
        services                                                           (17,550)                      -     $     (17,550)
          Expenses paid by shareholder                                      23,711                  15,675            262,907
          Stock-based compensation                                               -                  89,050             89,050
          Change in accounts payable                                      (12,325 )                  5,358             20,643
                                                                  ------------------   ---------------------   ---------------------
     NET CASH USED IN
     OPERATING ACTIVITIES                                                        -                       -          (   4,169)
                                                                  ------------------   ---------------------   ---------------------

     CASH FLOWS FROM FINANCING ACTIVITIES
       Sale of common stock                                                      -                       -                 10
       Capital contributions                                                     -                       -              4,159
                                                                   ------------------   ---------------------   --------------------

     NET CASH PROVIDED BY FINANCING
     ACTIVITIES                                                                  -                       -               4,169
                                                                    ------------------   ---------------------   -------------------

     NET (DECREASE) INCREASE IN CASH AND
    CASH EQUIVALENTS                                                             -                       -                   -

     CASH AND CASH EQUIVALENTS -
       beginning of period                                                       -                       -                    -
                                                                    ------------------   ---------------------   -------------------

     CASH AND CASH EQUIVALENTS -
      end of period                                                        $     -            $          -         $            -
                                                                    ==================   ==================      ===================

     SUPPLEMENTAL INFORMATION:
       During the period October 12, 1999 to March 31, 2003, the Company paid no cash for interest or income
       taxes.




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


</TABLE>

                                F-4

<PAGE>


                             EDISON RENEWABLES, INC.
                          (A Development Stage Company)
                 CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT
<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>


                                                                                                         Deficit
                                                                                                       Accumulated
                                                                 Common Stock            Additional     During the
                                                            ------------------------      Paid-in      Development
                                                               Shares         Amount      Capital         Stage          Total
                                                           -------------  -----------   -----------  -------------    ----------
Balance, October 12, 1999 (Inception)                                  -      $      -    $        -        $     -     $       -

Sale of common stock, October 12, 1999                           120,625           120      (     110 )           -            10

Expenses paid by shareholder                                           -             -         94,101             -        94,101
Capital contribution                                                   -             -          4,159             -         4,159
Net loss                                                               -             -              -     (  94,101 )    ( 94,101 )
                                                            ------------    -----------    ----------    -----------     ---------

Balance, March 31, 2000                                          120,625           120         98,150     (  94,101 )       4,169

Acquisition of public shell corporation, January 24, 2001         65,850            66          (  66 )           -             -


Cash to be paid for acquisition                                        -             -     (2,000,000 )           -    (2,000,000 )
Capital contribution                                                   -             -        129,420             -       129,420
Net loss                                                               -             -              -      (161,199 )  (  161,199 )
                                                            ------------    -----------    -----------   ----------    ----------

Balance, March 31, 2001                                          186,475           186     (1,772,496 )    (255,300 )  (2,027,610 )



Shares issued for services - July 17, 2001                         3,675             4         22,046             -        22,050
Shares issued for services - August 10, 2001                       6,250             6         24,994             -        25,000

Shares issued for services - November 14, 2001                     6,000             6         11,994             -        12,000

Shares issued for services - January 11, 2002                     15,000            15         29,985             -        30,000

Forgiveness of cash to be paid for acquisition                         -             -      2,000,000             -     2,000,000
Net loss                                                               -             -              -      (110,083 )  (  110,083 )
                                                            ------------    -----------    -----------   ----------    -----------

Balance, March 31, 2002                                          217,400           217        316,523      (365,383 )  (   48,643 )


Shares cancelled - October 22, 2002                               (2,925)           (3)       (17,547)            -       (17,550)

Net profit                                                                                                    6,164         6,164
                                                             ------------   -----------    -----------   -----------   -----------
Balance March 31, 2003                                           214,475       $   214     $  298,976    $ (359,219)   $  (60,029)
                                                             ============   ===========    ===========   ===========   ===========

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

</TABLE>

                                F-5

<PAGE>


                             EDISON RENEWABLES, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                             MARCH 31, 2003 AND 2002



NOTE 1 -  DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation
---------------------
The accompanying financial statements include the accounts of Edison Renewables,
Inc.,  formerly  Lockwave  Technologies,  Inc. ("Edison  Renewables"),  formerly
Audiomonster  Online,  Inc., a Nevada  corporation  formed on August 28, 1995 as
Professional Mining Consultants,  Inc. and its wholly owned subsidiary Lockwave,
Inc.  ("Lockwave"),  a Delaware corporation formed on October 12, 1999. The term
"Edison  Renewables"  in these notes  refers to the company  prior to its merger
with  Lockwave.  The term "company" or "Company" in these notes refers to Edison
Renewables  and  Lockwave  following  the  merger  transaction   between  Edison
Renewables and Lockwave. All significant inter-company accounts and transactions
have been eliminated in consolidation.

The company conducts its operations from offices located in Deer Park, New York.

Effective  January 24, 2001,  Edison  Renewables  acquired all of the issued and
outstanding  common  stock  of  Lockwave.  As  a  result  of  this  transaction,
Lockwave's former shareholder obtained control of Edison Renewables which had no
operations.  For accounting  purposes,  this  acquisition  has been treated as a
recapitalization of Lockwave.

The  financial  statements  presented  include only the accounts of Lockwave,  a
development stage company,  from its inception  (October 12, 1999) through March
31, 2003, and of the Company from January 24, 2001 through March 31, 2003.

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 no established source of revenue and has accumulated operating losses. These
factors raise  substantial  doubt about the  company's  ability to continue as a
going  concern.  Without  realization of additional  capital,  and or a suitable
merger  partner it would be  unlikely  for the  company to  continue  as a going
concern. The financial statements do not include any adjustments relating to the
recoverability  and  classification of recorded asset amounts and classification
of liabilities  that might be necessary should the company be unable to continue
in existence.

Nature of Operations
--------------------
The company is currently a development-stage company under the provisions of the
Financial  Accounting Standards Board ("FASB") Statement of Financial Accounting
Standards ("SFAS") No. 7.

The company intends to seek  opportunities  to develop business in the renewable
energy  market  which may include  acquisitions  or business  combinations  with
operating companies.

                                F-6

<PAGE>



                             EDISON RENEWABLES, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                             MARCH 31, 2003 AND 2002


NOTE 1 - DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT  ACCOUNTING POLICIES
(Continued)

Use of Estimates
----------------
The preparation of financial  statements  requires  management to make estimates
and assumptions  that affect the reported  amounts of assets and liabilities and
disclosure of  contingent  assets and  liabilities  at the date of the financial
statements and the reported amounts of revenue and expenses during the reporting
period. Actual results could differ from those estimates.

Cash and Cash Equivalents
-------------------------
The company  considers all highly  liquid  investments  purchased  with original
maturities of three months or less to be cash equivalents.

Concentration of Credit Risk
----------------------------
The company  places its cash in what it believes to be  credit-worthy  financial
institutions.  However,  cash balances may exceed FDIC insured levels at various
times during the year.

Fair Value of Financial Instruments
-----------------------------------
The carrying value of current assets and current  liabilities  approximates fair
value due to the relatively short maturity of these instruments.

Income Taxes
------------
Income  taxes are  provided  for  based on the  liability  method of  accounting
pursuant to SFAS No. 109,  "Accounting for Income Taxes." Deferred income taxes,
if any,  are  recorded  to  reflect  the tax  consequences  in  future  years of
differences  between the tax bases of assets and liabilities and their financial
reporting amounts at each year-end.

Product and Website Development Costs
-------------------------------------
Product and website development costs consist principally of payroll and related
expenses for development,  editorial, systems personnel and consultants. Product
development costs are generally expensed as incurred.

The company  follows the  provisions  of  Statement  of Position  ("SOP")  98-1,
"Accounting  for the  Costs of  Computer  Software  Developed  or  Obtained  for
Internal Use," which requires the capitalization of costs incurred in connection
with  developing  or obtaining  software  for  internal  use. The useful life of
website  development costs is less than one year and,  accordingly,  these costs
are expensed as incurred  and are  included in "product and website  development
costs" in the accompanying financial statements.

                                F-7

<PAGE>


                             EDISON RENEWABLES, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                             MARCH 31, 2003 AND 2002



NOTE 1 - DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT  ACCOUNTING POLICIES
(Continued)

Start-Up and Organization Costs
-------------------------------
The company accounts for start-up costs in accordance with SOP 98-5,  "Reporting
on the Costs of  Start-up  Activities,"  issued  by the  American  Institute  of
Certified Public Accountants. SOP 98-5 requires the cost of start-up activities,
including organization costs, to be expensed as incurred.

Earnings Per Share
------------------
The  company  calculates  earnings  per share in  accordance  with SFAS No. 128,
"Earnings Per Share," which  requires  presentation  of basic earnings per share
("BEPS") and diluted  earnings per share  ("DEPS").  The  computation of BEPS is
computed by dividing  income  available to common  stockholders  by the weighted
average number of outstanding common shares during the period. DEPS gives effect
to all dilutive  potential  common  shares  outstanding  during the period.  The
computation of DEPS does not assume conversion,  exercise or contingent exercise
of securities  that would have an antidilutive  effect on earnings.  As of March
31, 2003, there were no potentially dilutive securities outstanding.

Comprehensive Income
--------------------
SFAS No. 130, "Reporting  Comprehensive  Income," establishes  standards for the
reporting  and  display  of  comprehensive  income  and  its  components  in the
financial statements. The items of other comprehensive income that are typically
required to be displayed are foreign currency items,  minimum pension  liability
adjustments,  and unrealized gains and losses on certain investments in debt and
equity securities.  The company has no items of other  comprehensive  income and
has not presented a statement of comprehensive income.

Stock-Based Compensation
------------------------
The company has adopted the intrinsic value method of accounting for stock-based
compensation in accordance with Accounting  Principles Board Opinion ("APB") No.
25, "Accounting for Stock Issued to Employees" and related interpretations.  The
company has adopted only the disclosure provisions of SFAS No. 123, "Stock Based
Compensation," for equity instruments issued to employees.

Equity Participation Plan
-------------------------
On  February  24,  2003  the  Board  of   Directors   adopted  the  2003  Equity
Participation  Plan and has reserved up to 50,000,000 shares of common stock for
issuance  upon the  exercise of stock  options or as  restricted  stock  grants.
Stockholders  owning a majority of our issued and  outstanding  shares of common
stock  have  adopted  resolutions   approving  and  ratifying  our  2003  Equity
Participation  Plan.  The  following  statements  include  summaries  of certain
provisions  of  the  plan.

Eligibility is as follows.  Subject to certain limitations and conditions in the
plan,  restricted stock and options to purchase shares may be granted to persons
who, in the case of  incentive  stock  options,  are  employees  of,  either the
company or any parent or subsidiary of the company including directors and

                                F-8

<PAGE>


officers of the company and  non-employees  to whom an offer of  employment  has
been  extended,  or in the case of  non-statutory  stock options and  restricted
stock grants,  are employees  including  directors and officers or  non-employee
directors  or certain  consultants  or  advisors  to,  either the company or any
parent  or  subsidiary  of the  company  and  non-employees  to whom an offer of
employment  has been  extended.  At March 31, 2003 one  employee was eligible to
receive options or restricted stock grants under the plan.

The option price of the shares  underlying an incentive  stock option may not be
less than the fair  market  value (as such term is  defined  in the plan) of the
shares  of common  stock on the date  upon  which  the  option  is  granted.  In
addition,  in the case of a recipient of an  incentive  stock option who, at the
time the  option is  granted,  owns more than 10% of the total  combined  voting
power of all  classes  of  stock of the  company  or of a parent  or  subsidiary
corporation of the company (a "10% Stockholder"), the option price of the shares
subject to that  option  must be at least 110% of the fair  market  value of the
shares of common stock on the date upon which that option was granted.

The  option  price of shares  of common  stock  underlying  non-statutory  stock
options will be determined by the Board or the committee, in its discretion,  at
the time of grant and need not be equal to or greater than the fair market value
for shares of our common stock.

The Board or the  committee  may specify the vesting  periods of the  restricted
stock grant and other terms and  conditions  which the Board or committee  deems
appropriate.

In determining  vesting  requirements of restricted  stock grants,  the Board or
committee may impose  restrictions  which it may deem advisable  including among
other  things,  length of  service of the  grantee,  corporate  performance  and
attainment of individual or group performance objectives.

RECENT ACCOUNTING PRONOUNCMENTS
-------------------------------

In April 2002, the FASB issued SFAS No. 145,  "Rescission of FASB Statements No.
4, 44, and 64,  Amendment of FASB Statement No. 13, and Technical  Corrections."
SFAS No.145 rescinds SFAS No. 4, "Reporting Gains and Losses from Extinguishment
of Debt", and an amendment of that Statement,  SFAS No. 64,  "Extinguishments of
Debt Made to Satisfy  Sinking-Fund  Requirements,"  and SFAS No. 44, "Accounting
for  Intangible  Assets  of  Motor  Carriers".   This  Statement,   among  other
provisions,  amends  SFAS No. 13,  "Accounting  for  Leases,"  to  eliminate  an
inconsistency  between the required  accounting for sale-leaseback  transactions
and the required  accounting for certain lease  modifications that have economic
effects that are similar to  sale-leaseback  transactions.  The Company does not
expect the adoption of any of these  pronouncements to have a material impact on
the Company's financial position or results of operations.

In June 2002,  the FASB issued SFAS No. 146,  "Accounting  for Costs  Associated
with Exit or Disposal  Activities".  SFAS No.146 requires companies to recognize
costs associated with exit or disposal  activities when they are incurred rather
than at the date of a  commitment  to an exit or disposal  plan,  as  previously
required  under  Emerging  Issues Task Force  ("EITF") Issue 94-3. A fundamental
conclusion reached by the FASB in this statement is that an entity's  commitment
to a plan, by itself,  does not create a present obligation to others that meets
the definition of a liability.  SFAS No. 146 also establishes that fair value is
the objective for initial  measurement of the liability.  The provisions of this
statement are effective for exit or disposal activities that are initiated after
December 31,  2002.  The Company does not expect the adoption to have a material
impact on the Company's financial position or results of operations.

                                F-9

<PAGE>


In December  2002,  the FASB issued SFAS No. 148,  "Accounting  for  Stock-Based
Compensation--Transition and Disclosure", which amends SFAS No. 123, "Accounting
for Stock-Based Compensation",  to provide alternative methods of transition for
a voluntary  change to the fair value based method of accounting for stock-based
employee  compensation.  In  addition,  this  Statement  amends  the  disclosure
requirements of SFAS No. 123 to require prominent disclosures in both annual and
interim  financial  statements  about the method of accounting  for  stock-based
employee compensation and the effect of the method used on reported results. The
transition  guidance  and  annual  disclosure  provisions  of SFAS  No.  148 are
effective  for fiscal  years  ending  after  December  15,  2002,  with  earlier
application   permitted  in  certain   circumstances.   The  interim  disclosure
provisions are effective for financial reports containing  financial  statements
for interim  periods  beginning  after  December 15, 2002.  The adoption of this
statement did not have a material impact on the Company's  financial position or
results of operations as the Company has not elected to change to the fair value
based method of accounting for stock-based employee compensation.

In January  2003,  the FASB  issued  Interpretation  No. 46,  "Consolidation  of
Variable Interest Entities." Interpretation No. 46 changes the criteria by which
one company includes another entity in its  consolidated  financial  statements.
Previously,  the  criteria  were  based  on  control  through  voting  interest.
Interpretation  No. 46 requires a variable interest entity to be consolidated by
a company if that  company is subject to a majority of the risk of loss from the
variable interest  entity's  activities or entitled to receive a majority of the
entity's residual returns or both.

A company that  consolidates  a variable  interest  entity is called the primary
beneficiary of that entity. The consolidation requirements of Interpretation No.
46 apply  immediately to variable  interest  entities  created after January 31,
2003. The consolidation requirements apply to older entities in the first fiscal
year or interim period beginning after June 15, 2003.  Certain of the disclosure
requirements  apply in all financial  statements  issued after January 31, 2003,
regardless of when the variable  interest  entity was  established.  The Company
does  not  expect  the  adoption  to have a  material  impact  on the  Company's
financial position or results of operations.

                                F-10


<PAGE>


                             EDISON RENEWABLES, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                             MARCH 31, 2003 AND 2002



NOTE 2 -  CORPORATE REORGANIZATION AND MERGER

On January 24,  2001,  Edison  Renewables  and  Lockwave  amended  their  merger
agreement.  The agreement,  as amended,  provided that Edison  Renewables  would
acquire  all  of the  issued  and  outstanding  common  stock  of  Lockwave.  In
connection with the transaction,  the sole  shareholder of Lockwave  received an
aggregate  of 120,625 ( post stock  split)  shares of Edison  Renewables  common
stock for its 1,000 shares of Lockwave.  Additionally,  the  shareholder  was to
receive a cash payment of $2,000,000.  Payments of $500,000 had previously  been
paid prior to the final amendment.  Payments of the $2,000,000 cash portion were
scheduled as follows: February 1, 2001, $250,000; March 1, 2001, $250,000; April
1, 2001, $500,000; May 1, 2001, $500,000;  June 1, 2001, $500,000. None of these
scheduled  payments  were made and the  required  payment  was  forgiven  by the
stockholder during the year ended March 31, 2002.

As a result of this transaction,  the former shareholder of Lockwave acquired or
controlled  a majority  of the  shares of Edison  Renewables.  Accordingly,  the
transaction has been treated for accounting  purposes as a  recapitalization  of
Lockwave;  therefore, these financial statements represent a continuation of the
accounting acquirer, Lockwave, not Edison Renewables, the legal acquirer.

In accounting for this transaction:

i)   Lockwave is deemed to be the purchaser and surviving company for accounting
     purposes.  Accordingly, its net assets are included in the balance sheet at
     their historical book values;

ii)  Control of the net assets and business of Lockwave  was acquired  effective
     January  24,  2001  (the  "Effective  Date").  This  transaction  has  been
     accounted  for as a  purchase  of the  assets  and  liabilities  of  Edison
     Renewables by Lockwave.  At the effective  date,  Edison  Renewables had no
     assets, liabilities or operations.

iii) The consolidated statements of operations and cash flows include Lockwave's
     results  of  operations  and cash  flows  from  October  12,  1999 (date of
     inception) and the company's results of operations from January 24, 2001.

                                F-11

<PAGE>



                             EDISON RENEWABLES, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                             MARCH 31, 2003 AND 2002



NOTE 3 - INCOME TAXES

The components of the provision for income taxes are as follows:

The current tax benefit is negligible.  The effective rate, which is negligible,
differs  from the  expected  tax rate of 34% as a result  of the  effect  of the
variable tax structure.

At March 31,  2003,  the company had net  carryforward  losses of  approximately
$359,000 Because of the current uncertainty of realizing the benefits of the tax
carryforward, a valuation allowance equal to the tax benefits for deferred taxes
has been  established.  The full realization of the tax benefit  associated with
the carryforward  depends  predominantly  upon the company's ability to generate
taxable income during the carryforward periods.

                                F-12


<PAGE>

                             EDISON RENEWABLES, INC.
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                             MARCH 31, 2003 AND 2002



NOTE 3 - INCOME TAXES (Continued)

Net operating loss carryforwards  expire principally ratably starting in 2022 to
2023. The utilization of the net operating  losses may be limited as provided by
Section 382 of the Internal Revenue Code

                                                  March 31,
                                          -----------------------
                                             2003           2002
                                          ----------    ----------
Deferred Tax Assets
 Loss Carryforwards                       $  122,000   $   124,100

 Less:  Valuation Allowance                ( 122,000)  (   124,100)
                                          -----------  -----------
 Net Deferred Tax Assets                  $        -   $         -
                                          ===========  ===========



NOTE 4 - RELATED PARTY TRANSACTIONS

The company neither owns nor leases any real or personal property. A shareholder
of the company  provides office space and other services  without  charge.  Such
costs are immaterial to the financial statements and, accordingly, have not been
reflected therein.  These individuals are involved in other business  activities
and may, in the future, become involved in other business opportunities.

During the year ended  March 31,  2003 and 2002,  a  stockholder  paid  expenses
totaling $23,711, and $15,675, respectively. These advances bear no interest and
are due upon demand.

NOTE 5 - SUBSEQUENT EVENTS

On May 19, 2003 the company  increased the number of authorized shares of common
stock from 50,000,000 shares to 200,000,000 shares.

Effective May 19, 2003 the company's  common stock underwent a 1 for 200 reverse
split of the issued and outstanding  shares of the common stock.  This decreased
the number of shares outstanding from 42,895,000 to 214,475 without changing the
number of  shares of common  stock  authorized  for  issuance.  No change in the
rights or  ownership  percentage  of the holders has occurred as a result of the
reverse  split.  The  par  value  of the  common  stock  has not  been  changed,
accordingly the corresponding credit has been recorded to paid ion capital.

The above two actions were given retroactive effect in the financial statements.

On May 19, 2003 the company amended its Articles of Incorporation to provide for
the authority to issue up to  20,000,000  shares of preferred  stock,  $.001 par
value,  in one or more  classes or series,  and to fix the  relative  rights and
preferences of the shares, including voting powers, dividend rights, liquidation
preferences, redemption rights and conversion privileges.

On May 05, 2003, the company amended its Articles of Incorporation to change the
name of the companyfrom Lockwave Technologies, Inc. to Edison Renewables, Inc.

                                F-13

<PAGE>


                                   SIGNATURES

Pursuant to the  requirements  of Section 12 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.

                                Edison Renewables, Inc.

                                By: /s/ Paul Steo
                                   ------------------------------
                                    Paul Steo,
                                    President/Secretary/Treasurer



<PAGE>


                             CERTIFICATE PURSUANT TO
                      THE SECURITIES EXCHANGE ACT OF 1934,
                             RULES 13a-14 AND 15d-14
                             AS ADOPTED PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I,  Paul  Steo,  Chief  Executive  Officer/Chief  Financial  Officer  of  Edison
Renewables, Inc., certify that:

1)   I have reviewed the report on Form 10-KSB for the year ended March 31, 2003
     of Edison Renewables, Inc.;

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 to 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  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 (the  "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 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 and I have indicated in this
     annual  report  whether or not there were  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.


  /s/ Paul Steo    Dated:  06/19/03
-------------------
Paul Steo
Chief Executive Officer/Chief Financial Officer