SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   FORM 10-KSB

                ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF

                       THE SECURITIES EXCHANGE ACT OF 1934

                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001

                         Commission File Number 0-17750

                              FEMINIQUE CORPORATION

             (Exact Name of Registrant as Specified in its Charter)


            DELAWARE                                         13-3186327
  (State or Other Jurisdiction                            (I.R.S. Employer
       of Incorporation)                               Identification Number)

                            140 BROADWAY, 46TH FLOOR
                            NEW YORK, NEW YORK 10005


               (Address, including zip code, and telephone number,
        including area code, of registrant's principal executive offices)

           SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT:
                                      None

           SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:
                          COMMON STOCK $.001 PAR VALUE

Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past
90 days.
Yes [X] No [ ]

Check if there is no disclosure of delinquent filers pursuant to Item 405 of
Regulation S-B is contained herein, and will not 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

Issuer's revenues for its most recent fiscal year: $171,756

The aggregate market value of voting stock held by non-affiliates of the
registrant as of December 4, 2003 was $22,773 (based on the last reported sale
price of $.0001 per share on December 4, 2003).

The number of shares of the registrant's common stock outstanding as of December
4, 2003 was 25,005,733.

Transitional Small Business Disclosure Format:  Yes [ ] No [X]
---------------------------------------------------------------


<PAGE>
                              FEMINIQUE CORPORATION
                         2001 FORM 10-KSB ANNUAL REPORT


                                TABLE OF CONTENTS


PART I

ITEM 1.   DESCRIPTION OF BUSINESS

          RISK FACTORS

ITEM 2.   DESCRIPTION OF PROPERTY

ITEM 3.   LEGAL PROCEEDINGS

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

PART II

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

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

ITEM 7.   FINANCIAL STATEMENTS

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

ITEM 8A.  CONTROLS AND PROCEDURES

PART III

ITEM 9.   DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

ITEM 10.  EXECUTIVE COMPENSATION

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
               RELATED STOCKHOLDER MATTERS

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

ITEM 13.  EXHIBITS AND REPORTS ON FORM 8-K


                                        2
<PAGE>
THIS REPORT CONTAINS FORWARD-LOOKING STATEMENTS THAT INVOLVE RISKS AND
UNCERTAINTIES.  SUCH STATEMENTS ARE BASED ON CURRENT EXPECTATIONS, ASSUMPTIONS,
ESTIMATES AND PROJECTIONS ABOUT THE COMPANY AND ITS INDUSTRY.  THESE
FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES.  FORWARD-LOOKING
STATEMENTS ARE SUBJECT TO KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER
FACTORS THAT MAY CAUSE ACTUAL RESULTS, LEVELS OF ACTIVITY, PERFORMANCE,
ACHIEVEMENTS AND PROSPECTS TO BE MATERIALLY DIFFERENT FROM THOSE EXPRESSED OR
IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS.  THE COMPANY UNDERTAKES NO
OBLIGATION TO UPDATE PUBLICALLY ANY FORWARD-LOOKING STATEMENTS FOR ANY REASON
EVEN IF NEW INFORMATION BECOMES AVAILABLE OR OTHER EVENTS OCCUR IN THE FUTURE.

                                     PART I

ITEM 1.   DESCRIPTION OF BUSINESS

                                    OVERVIEW

In June 1999, Biopharmaceutics, Inc. (the "Company"), pursuant to a meeting of
the Board of Directors, adopted a resolution and filed a Certificate of
Amendment to the Certificate of Incorporation and changed the name of the
Company to Feminique Corporation.

Biopharmaceutics, Inc. was originally incorporated in Nevada on August 15, 1983
under the name of Health Care Facilities Corporation.  On March 28, 1988, the
shareholders changed the Company's name to Biopharmaceutics, Inc. and the state
of incorporation from Nevada to Delaware.  The Company's executive office is
located at 140 Broadway, 46th Floor, New York, NY 10005.  Its telephone number
is (212) 655-9262.

On December 11, 1998, the Company completed the sale of its wholly-owned
subsidiary, Caribbean Medical Testing Center, Inc. ("CMT"), which was in the
business of multi-phase specialty medical testing and laboratory services
throughout Puerto Rico.  Under the terms of the sale, common stock of CMT was
sold for $4,700,000, payable as follows: $600,000 to be held in escrow for
specified outstanding taxes, $2,600,000 in cash and the waiver of the Company's
guaranty of a $1,500,000 note held by the purchaser.  In addition and as part of
its settlement with other creditors, the Company settled an outstanding
indebtedness to Dondo Associates, Inc. ("Dondo") by assigning $2,600,000 of the
cash proceeds from the CMT sale to Dondo in exchange for the cancellation of the
Company's outstanding promissory note (incurred by the Company as a result of
the acquisition of CMT) to Dondo totaling $4,117,715 inclusive of interest.  A
fee of $50,000 was paid to a Director of the Company by Dondo for services
rendered on its behalf in said transaction.  The results of operations of CMT
have been classified as discontinued operations and all prior periods have been
restated.

In connection with the Company's restructuring plan, the manufacturing
operations of its generic pharmaceutical products subsidiary were discontinued
effective September 30, 1998.  The Company liquidated the entire manufacturing
operation in 1999.  The operations of this division for the three years ended
September 30, 1999 have been reported as discontinued operations in the
consolidated statement of operations.

The Company's business operations, in fiscal years 2001 and 2000, were
principally conducted through one wholly-owned subsidiary: Quality Health
Products, Inc. ("QHP"), a company organized to market the line of Feminine
Hygiene Products acquired in March 1996 from SSL Americas Inc., formerly known
as London International Group, Inc. ("LIG").  The Company ceased business in
August 2000.

Since the Company's Board of Directors effectuated a restructuring of management
and adopted a plan to restructure operations in 1998, it was determined that the
feminine hygiene Branded products operation was to constitute the Company's core
business.  Subsequently, the Company became a distributor of consumer feminine
hygiene and family planning products which are sold nationwide to major chain
stores, distributors and wholesalers.


                                        3
<PAGE>
In March 1996, the Company through QHP, acquired certain feminine hygiene
Branded products from London International Group, Inc. now known as SSL Americas
Inc.  The brands acquired are sold under the names Vaginex (R), Koromex (R),
Koroflex (R) and Feminique (R) and have been established on average more than
thirty years with Koromex (R) having been established  in 1933.

Sales of these Brands were being made to food and drug chains, drug wholesalers,
domestic and overseas distributors, clinics and domestic government agencies.
The Company sales are conducted by one independent Sales Representative
Organization, which calls on the key accounts that carry the lines.  The Company
expects its sales representative to expand sales on the lines by expanding the
customer base and by receiving greater support from the Company in promoting the
products.

The Company and QHP on August 3, 2000 filed a Chapter 11 Petition in the United
States Bankruptcy Court for the Eastern District of New York.

Without the assets of QHP, the Company has had no operating business since
August 3, 2000.  The Company pursuant to a licensing Agreement with Clay Park
Labs Inc. dated May 5, 2000 received royalty payments through the quarter ended
December 31, 2002.  The licensing agreement was assigned to SSL Americas, the
secured creditor of QHP.

                                  GOING CONCERN

The Company has incurred recurring operating losses and does not have any
revenue generating activities. These conditions raise substantial doubt about
the Company's ability to continue as a going concern. If at any time the Company
determines that it does not have sufficient cash in order to execute the
Bankruptcy Plans, then the Company intends to endeavor to obtain additional
equity or other funding, if it is able to do so. However, there can be no
assurance that the Company will be able to raise additional funding necessary to
operate. See "RISK FACTORS" and "Management's Discussion and Analysis of
Financial Condition and Plan of Operation - Liquidity and Capital Resources".


                                        4
<PAGE>
                                   THE MARKET

The Company is no longer in the feminine hygiene industry and therefore that
market is not applicable to the Company.  Management is pursuing other business
models at this time.


One model that has emerged is the purchase and recovery of distressed consumer
debt receivables.  The Company would purchase charged-off consumer debt at deep
discounts and outsource recovery to carefully selected recovery partners.   A
newly installed management team has several years of experience in purchase and
recovery of consumer debt, corporate finance and raising capital.  Through the
acquisition of General Outsourcing Services, the Company gets the servicing
capability of a licensed collections agency equipped with state-of-the-art
telecommunication system, payment system and proprietary debt management and
collection software.

The Company's approach to buying distressed debt is based on risk-adjusted
value.  The Company would attempt to identify value objects within portfolios
available for purchase.  The Company would differentiate itself from the rest of
the field based on the following:

     -    Invaluable knowledge of quantitative and qualitative variables
     -    Complete knowledge of the history of debt under consideration for
          purchase
     -    Better understanding of portfolio's characteristics than the
          originator/seller of the debt
     -    How the debt is originated - telemarketing, direct mail solicitation,
          face to face in the office, home or casual event. Individuals who make
          the effort to complete forms in person or at home are more likely to
          be debt conscientious than individuals who respond to a telemarketers
          questions. Review in more detail as to why the individual took on the
          debt - was it to buy something of need or a spontaneous purchase.

                                 THE COMPETITION

The Company does not have competition at this time as the Company has had no
operating business since on or about August 3, 2000.

                               LEGAL UNCERTAINTIES

The Company is not aware of any significant legal uncertainties at this time.

                                    EMPLOYEES

Other than Max Khan, the President and CEO and Steven Lowe, Secretary, the
Company has no employees and does not anticipate hiring any employees in the
near future.

                                  RISK FACTORS

IN ADDITION TO OTHER INFORMATION IN THIS REPORT, YOU SHOULD CONSIDER THE
FOLLOWING RISK FACTORS CAREFULLY.  THESE RISKS MAY IMPAIR THE COMPANY'S
OPERATING RESULTS AND BUSINESS PROSPECTS AS WELL AS THE MARKET PRICE OF THE
COMPANY'S COMMON STOCK.

      RISKS RELATED TO THE COMPANY'S FINANCIAL CONDITION AND BUSINESS MODEL

THE COMPANY'S LIQUIDITY IS LIMITED AND IT MAY NOT BE ABLE TO OBTAIN SUFFICIENT
FUNDS TO FUND ITS BUSINESS.

The Company's cash is currently very limited and may not be sufficient to fund
future operations.  These factors may make the timing, amount, terms and
conditions of additional financing unattractive for the Company.  If the Company
is unable to raise additional capital, any future operations could be impeded.
If the Company obtains additional funding, the issuance of additional capital
stock may be dilutive to the Company's stockholders.


                                        5
<PAGE>
        THE COMPANY HAS RECEIVED A GOING CONERN OPINION FROM ITS AUDITORS

The Company's consolidated financial statements have been prepared on the
assumption that the Company will continue as a going concern.  The Company's
independent auditors have issued a reported dated December 5, 2003 that includes
an explanatory paragraph stating the Company's lack of revenue generating
activities and substantial operating deficits, among other things, raise
substantial doubt about the Company's ability to continue as a going concern.

                     THE COMPANY CURRENTLY HAS NO OPERATIONS

The Company has had no operations since August 3, 2000 when it filed for
protection under Chapter 11 of the US Bankruptcy Code.

 IT MAY BE DIFFICULT TO CONSUMMATE A MERGER OR ACQUISITION WITH A PRIVATE ENTITY

The Company expects its purpose will include locating and consummating a merger
or acquisition with a private entity.  The Company anticipates the selection of
a business opportunity in which to participate will be complex and extremely
risky.  The Company has, and will continue to have, little or no capital with
which to provide the owners of business opportunities with any significant cash
or other assets.  However, management believes the Company will be able to offer
owners of acquisition candidates the opportunity to acquire a controlling
ownership interest in a publicly registered company without incurring the cost
and time required to conduct an initial public offering.  Such an acquisition
candidate will, however, incur significant legal and accounting costs in
connection with an acquisition of the Company, including the costs of preparing
current and periodic reports, various agreements and other documents.

             THE COMPANY MAY NOT BE ABLE TO RAISE ADDITIONAL CAPITAL

There is no assurance that the Company will be able to raise capital on a debt
or equity basis, or obtain other means of financing.


    THE COMPANY'S STOCK PRICE HAS DECLINED SIGNIFICANTLY AND MAY NOT REBOUND

The trading price of the common stock has declined significantly since August
2000.  The market for the common stock is essentially non-existent and there can
be no assurance that the Company's stock price will rebound.

          PENNY STOCK REGULATIONS AND REQUIREMENTS FOR LOW PRICED STOCK

The SEC adopted regulations which generally define a "penny stock" to be any
non-Nasdaq equity security that has a market price of less than $5.00 per share,
subject to certain exceptions.  Based upon the price of the Company's common
stock as currently traded on the pink sheets, the Company's common stock is
subject to Rule 15g-9 under the Exchange Act which imposes additional sales
practice requirements on broker-dealers which sell securities to persons other
than established customers and "accredited investors".  For transactions covered
by this rule, a broker-dealer must make a special suitability determination for
the purchaser and have received a purchaser's written consent to the transaction
prior to sale.  Consequently, this rule may have a negative effect on the
ability of stockholders to sell common shares of the Company in the secondary
market.

ITEM 2.   DESCRIPTION OF PROPERTY

The Company's principal executive officers are located at 140 Broadway, 46th
Floor, New York, New York.  The Company does not own any property and pays no
rent for the use of this mailing address.  The office is provided by the
President of the Company.

ITEM 3.   LEGAL PROCEEDINGS

Except for the proceedings pending pursuant to filing under Chapter 11 of the
Bankruptcy Code, the Company is not a party to any pending legal proceedings nor
is any of the Company's property the subject of any pending legal proceedings.

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

Not applicable.


                                        6
<PAGE>
                                     PART II

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

                          MARKET PRICE OF COMMON STOCK

Feminique Corporations' Common Stock is quoted on the pink sheets under the
symbol Femqq.pk.  While it appears there is no market for the Common Stock, the
Company has set forth in the table below the high and low closing bid prices per
share of Common Stock as reported for each quarter within the last two fiscal
years.

The pink sheets are the over the counter bulletin board exchange (OTC).

<TABLE>
<CAPTION>
                         HIGH          LOW
<S>                     <C>          <C>
Oct 1 - Dec 31, 1999    $  0.130     $  0.080
June 1 - Mar 31, 2000   $  0.170     $  0.110
Apr 1 - June 30, 2000   $  0.120     $  0.030
July 1 - Sept 30, 2000  $  0.040     $  0.010
Oct 1 - Dec 31, 2000    $  0.006     $  0.001
Jan 1 - Sept 30, 2001   the stock was not traded
</TABLE>


                                     HOLDERS

As of September 30, 2001, there were 843 holders of record on common stock
(Femqq) and approximately 4,500 holders in street name.

                                 DIVIDEND POLICY

The Company has never declared or paid any cash dividends on its capital stock.
The Company currently intends to retain future earnings, if any, to finance its
business and does not expect to pay any cash dividends for the foreseeable
future.

                     RECENT SALES OF UNREGISTERED SECURITIES

There were no recent sales of common stock for the years ended September 30,
2001 and 2000.

                           REGISTRATION OF SECURITIES

The Company appears to be a blank check company, as defined by Rule 419 of
Regulation C, promulgated under the Securities Act.  Generally, a blank check
company is a development stage company that has no specific business plan or
purpose, or is seeking to merge with or acquire an unidentified target, and is
issuing "penny stock".  So long as the Company continues to be a blank check
Company, any registration statement filed by the Company will need to comply
with Rule 419.

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

THE FOLLOWING DISCUSSION SHOULD BE READ IN CONJUNCTION WITH THE COMPANY'S
FINANCIAL STATEMENTS AND NOTES TO THOSE STATEMENTS AND OTHER FINANCIAL
INFORMATION APPEARING ELSEWHERE IN THIS REPORT.


                                        7
<PAGE>
                                    OVERVIEW

The Company as of August 3, 2000 filed a chapter 11 Petition in the United
States Bankruptcy Court for the Eastern District of New York.  The order was
confirmed July 28, 2003.

The Company since August 3, 2000 was not engaged in any business.  The Company
had financed its operating requirements for 1999 and prior primarily by the
issuance of short and long-term debt and notes.

                              RESULTS OF OPERATIONS
                              2001 COMPARED TO 2000

Royalties and sales for the fiscal year ended September 30, 2001 totaled
$171,756 vs. $696,312 for the prior fiscal year.  The decrease in revenues
resulted from the cessation of manufacturing operations in August 2000.  The
Company only had royalty revenues for the fiscal year ended September 30, 2001.

The Company operated at a gross profit of 0.0% in 2001 as compared with 23.3% in
the prior year.  Selling, general and administrative expenses were negligible as
compared to the prior year.  These declines were the result of cessation of the
manufacturing operations.

The Company had no depreciation or amortization for the year ended September 30,
2001as it adopted FASB 142, "Goodwill and Other Intangible Assets".  This
statement addressed how intangible assets that are acquired individually or with
a group of other assets should be accounted for in financial statements upon
their acquisition and how goodwill and other intangible assets should be
accounted for after they have been initially recognized in the financial
statements.  The Company at September 30, 2000 valued its intangible assets at a
value equivalent to its long-term debt under the approval of the United States
Bankruptcy Court.  As a result, no additional amortization was permitted.
Furthermore, all fixed assets had either been written-off or were fully
depreciated as of September 30, 2000 resulting in no depreciation for the fiscal
year ended September 30, 2001.

                                     OUTLOOK

Without an operating subsidiary, the Company has had no operating business since
on or about August 3, 2000.  The Company intends to explore other business
opportunities.  There can be no assurance that the Company will be able to find
any suitable business opportunity.  Suitable business opportunities may include
those presented to the Company by persons or firms desiring to seek the
perceived advantages of a corporation registered under the Exchange Act.  The
Company will not restrict its search to any specific business, industry, or
geographical location and the Company may participate in a business venture of
virtually any kind of nature.

The Company has, and will continue to have, little or no capital with which to
provide the owners of business opportunities with any significant cash or other
assets.  However, management believes the Company will be able to offer owners
of acquisition candidates the opportunity to acquire a controlling ownership
interest in a publicly registered company without incurring the cost and time
required to conduct an initial public offering.  Any such acquisition candidate
will, however, incur significant legal and accounting costs in connection with
an acquisition of the Company, including the costs of preparing current reports
on Form 8-K and periodic reports on Form 10-Q or 10-QSB and Form 10-K and
10-KSB, various agreements and other documents.

                               PLAN OF OPERATIONS

The Company plans on carrying out its reorganization under the Bankruptcy Court
order.  The Company plans on borrowing from investors so it can satisfy its cash
requirements.  The Company has no plans to conduct any research and development,
to purchase any equipment or to change its number of employees.

                          RECENT ACCOUNT PRONOUNCEMENTS

The Company continues to assess the effects of recently issued accounting
standards.  The impact of all recently adopted and issued accounting standards
has been disclosed in the Notes to the Audited Consolidated Financial
Statements.

                          CRITICAL ACCOUNTING ESTIMATES

The Company is a shell company and, as such, the Company does not employ
critical accounting estimates.  Should the Company resume operations it will
employ critical accounting estimates and will make any disclosures that are
necessary and appropriate.


                                        8
<PAGE>
ITEM 7.   FINANCIAL STATEMENTS


                     FEMINIQUE CORPORATION AND SUBSIDIARIES

                   INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED SEPTEMBER 30, 2001 AND 2000




                                                                         PAGE(S)
                                                                         -------


INDEPENDENT AUDITORS' REPORT                                              10-11

FINANCIAL STATEMENTS:

     Consolidated Balance Sheet as of September 30, 2001                  12-13

     Consolidated Statements of Operations for the Years Ended
     September 30, 2001 and 2000                                           14

     Consolidated Statements of Stockholders' Deficit for the Years
     Ended September 30, 2001 and 2000                                     15

     Consolidated Statements of Cash Flows for the Years Ended
     September 30, 2001 and 2000                                           16

     Notes to Consolidated Financial Statements                           17-23



                                        9
<PAGE>
                        BAGELL, JOSEPHS & COMPANY, L.L.C.
                          Certified Public Accountants

                               High Ridge Commons
                                 Suites 400-403
                           200 Haddonfield Berlin Road
                           Gibbsboro, New Jersey 08026
                       (856) 346-2828  Fax (856) 346-2882


                          INDEPENDENT AUDITORS' REPORT


To the Board of Directors and Stockholders of:
Feminique Corporation and Subsidiaries
New York, New York

We have audited the accompanying consolidated balance sheets of Feminique
Corporation and Subsidiaries as of September 30, 2001 and 2000 and the related
consolidated statements of operations, stockholders' deficit and cash flows for
the years then ended. These consolidated financial statements are the
responsibility of the Company's management. Our responsibility is to express an
opinion on these consolidated 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 consolidated
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 and schedule.  An audit also includes assessing the
accounting principles used and significant estimates made by management, as well
as evaluating the overall consolidated financial statement presentation.  We
believe that our audits provide a reasonable basis for our opinion.

The accompanying consolidated financial statements have been prepared assuming
that the Company will continue as a going concern.  As discussed in Note 2 to
the consolidated financial statements, the Company has incurred substantial
operating losses from continuing operations and had a consolidated stockholders'
deficit at September 30, 2001 of $1,861,055.  Additionally, the Company and its
operating subsidiary in August 2000 filed for reorganization under Chapter 11 of
the United States Bankruptcy Code.  The order confirming the plan of
reorganization was accepted July 28, 2003 (See Note 11).  These conditions raise
substantial doubt about the Company's ability to continue as a going concern.
Management's plans in addressing these matters are more fully discussed in Note
2.  The consolidated financial statements do not include any adjustments that
might result from the outcome of these uncertainties.




          MEMBER OF:     AICPA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
                         NEW JERSEY SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS
                         PENNSYLVANIA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
                         NEW YORK STATE SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS


                                       10
<PAGE>
In our opinion, the consolidated financial statements referred to above present
fairly, in all material respects, the financial position of Feminique
Corporation and Subsidiaries as of September 30, 2001 and 2000, and the results
of their consolidated operations, changes in consolidated stockholders deficit
and their consolidated cash flows for the years then ended in conformity with
accounting principles generally accepted in the United States of America.


BAGELL, JOSEPHS & COMPANY, L.L.C.
BAGELL, JOSEPHS & COMPANY, L.L.C.
Certified Public Accountants

Gibbsboro, New Jersey


December 5, 2003




                                       11
<PAGE>
<TABLE>
<CAPTION>
                     FEMINIQUE CORPORATION AND SUBSIDIARIES
                            CONSOLIDATED BALANCE SHEET
                               SEPTEMBER 30, 2001

                                     ASSETS


<S>                                                        <C>
CURRENT ASSETS
   Cash                                                    $  143,066
   Prepaid expenses and other current assets                    5,316
                                                           ----------

          TOTAL CURRENT ASSETS                                148,382
                                                           ----------


INTANGIBLE ASSETS, AT COST, NET OF
   ACCUMULATED AMORTIZATION                                 1,700,076
                                                           ----------

TOTAL ASSETS                                               $1,848,458
                                                           ==========



     The accompanying notes are an integral part of the consolidated financial
                                   statements.
</TABLE>


                                       12
<PAGE>
<TABLE>
<CAPTION>
                     FEMINIQUE CORPORATION AND SUBSIDIARIES
                     CONSOLIDATED BALANCE SHEET (CONTINUED)
                               SEPTEMBER 30, 2001

                      LIABILITIES AND STOCKHOLDERS' DEFICIT



<S>                                                                     <C>
CURRENT LIABILITIES
   Accounts payable - Trade                                             $  1,567,899
   Accrued expenses                                                           89,538
   Notes payable                                                             137,000
   Current maturities of long-term debt                                    1,340,076
   Convertible debentures payable                                            575,000
                                                                        -------------

          TOTAL CURRENT LIABILITIES                                        3,709,513
                                                                        -------------


COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' DEFICIT
   Common stock, par value $.001 per share;
       authorized 50,000,000 shares, issued and outstanding
       25,005,733 shares                                                      25,005
   Additional paid-in capital                                             35,012,966
   Accumulated deficit                                                   (35,954,414)
   Less: treasury stock, at cost (103,432 shares)                           (944,612)
                                                                        -------------

         TOTAL STOCKHOLDERS' DEFICIT                                      (1,861,055)
                                                                        -------------

TOTAL LIABILITIES AND STOCKHOLDERS'
DEFICIT                                                                 $  1,848,458
                                                                        =============




     The accompanying notes are an integral part of the consolidated financial
                                   statements.
</TABLE>


                                       13
<PAGE>
<TABLE>
<CAPTION>
                         FEMINIQUE CORPORATION AND SUBSIDIARIES
                          CONSOLIDATED STATEMENTS OF OPERATIONS
                     FOR THE YEARS ENDED SEPTEMBER 30, 2001 AND 2000


                                                                  2001          2000
                                                               -----------  ------------
<S>                                                            <C>          <C>

REVENUES
  Sales                                                        $         -  $   696,312
  Royalties                                                        171,756            -
                                                               -----------  ------------
                                                                   171,756      696,312

COSTS AND EXPENSES
    Cost of sales                                                        -      529,769
    Selling, general and administrative                              5,587    1,018,945
    Depreciation, amortization of intangibles and impairment             -    1,499,439
                                                               -----------  ------------
        TOTAL COSTS AND EXPENSES                                     5,587    3,048,153
                                                               -----------  ------------

NET INCOME (LOSS) BEFORE OTHER INCOME (EXPENSES)                   166,169   (2,351,841)

OTHER INCOME (EXPENSES)
    Interest income                                                     33            -
    Miscellaneous Income                                             8,734
    Interest expense                                                     -     (195,768)
                                                               -----------  ------------
        TOTAL OTHER INCOME (EXPENSES)                                8,767     (195,768)
                                                               -----------  ------------

INCOME LOSS BEFORE PROVISION FOR
  STATE INCOME TAXES                                               174,936   (2,547,609)
     Provision for state income taxes                                    -            -
                                                               -----------  ------------


NET INCOME (LOSS)                                              $   174,936  $(2,547,609)
                                                               ===========  ============

BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE               $     0.007  $     (0.09)
                                                               ===========  ============

AVERAGE WEIGHTED NUMBER OF
  SHARES OF COMMON STOCK                                        25,005,733   23,344,085
                                                               ===========  ============




     The accompanying notes are an integral part of the consolidated financial
                                   statements.
</TABLE>


                                       14
<PAGE>
<TABLE>
<CAPTION>
                                   FEMINIQUE CORPORATION AND SUBSIDIARIES
                              CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT
                               FOR THE YEARS ENDED SEPTEMBER 30, 2001 AND 2000


                                        COMMON STOCK       ADDITIONAL
                                    ---------------------   PAID-IN     ACCUMULATED   TREASURY
                                      SHARES     AMOUNT     CAPITAL       DEFICIT       STOCK        TOTAL
                                    -----------  -------  -----------  -------------  ----------  ------------
<S>                                 <C>          <C>      <C>          <C>            <C>         <C>

BALANCE, SEPTEMBER 30, 1999         $22,765,399  $22,765  $34,850,702  $(33,581,741)  $(944,612)  $   347,114

Shares issued in connection with
consulting services rendered          2,011,254    2,011       76,215                                  78,226

Shares issued to debenture holders
for interest                            220,305      220       85,970             -           -        86,190

Net loss for the year ended
September 30, 2000                            -        -            -    (2,547,609)          -    (2,547,609)
                                    -----------  -------  -----------  -------------  ----------  ------------

BALANCE, SEPTEMBER 30, 2000         $24,996,958  $24,996  $35,012,887  $(36,129,350)  $(944,612)  $(2,036,079)
                                    ===========  =======  ===========  =============  ==========  ============

Shares issued in connection with
consulting services rendered              8,775        9           79             -           -            88
Net Income for the year ended
September 30, 2001                            -        -            -       174,936           -       174,936
                                    -----------  -------  -----------  -------------  ----------  ------------

BALANCE, SEPTEMBER 30, 2001         $25,005,733  $25,005  $35,012,966  $(35,954,414)  $(944,612)  $(1,861,055)
                                    ===========  =======  ===========  =============  ==========  ============




               The accompanying notes are an integral part of the consolidated financial statements.
</TABLE>


                                       15
<PAGE>
<TABLE>
<CAPTION>
                         FEMINIQUE CORPORATION AND SUBSIDIARIES
                          CONSOLIDATED STATEMENTS OF CASH FLOWS
                     FOR THE YEARS ENDED SEPTEMBER 30, 2001 AND 2000



                                                                   2001         2000
                                                                ----------  ------------
<S>                                                             <C>         <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Income (Loss)                                             $ 174,936   $(2,547,609)
ADJUSTMENTS TO RECONCILE NET INCOME (LOSS) TO
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:
   Depreciation, amortization and impairment                            -     1,499,439
   Issuance of common shares for legal and consulting
      services rendered                                                88        78,226
   Issuance of common shares to debenture holders
      for interest                                                      -        86,190
CHANGES IN OPERATING ASSETS AND LIABILITIES:
   Accounts receivable                                                  -       295,812
   Inventories                                                          -       156,716
   Other current assets                                                 -       125,576
   Accounts payable - Trade                                       (34,208)    1,064,986
   Accrued expenses                                                            (785,808)
                                                                ----------  ------------

        NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES       140,816       (26,472)
                                                                ----------  ------------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Repayments of long-term debt - net                                   -       (49,612)
                                                                ----------  ------------
        NET CASH USED IN FINANCING ACTIVITIES                           -       (49,612)
                                                                ----------  ------------

NET INCREASE (DECREASE) IN CASH                                   140,816       (76,084)

CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR                       2,250        78,334
                                                                ----------  ------------

CASH AND CASH EQUIVALENTS - END OF YEAR                         $ 143,066   $     2,250
                                                                ==========  ============

NON-CASH ACTIVITY
    Issued stock for consulting services                        $      88   $    78,226
                                                                ==========  ============
    Issued stock for interest expense                           $       -   $    86,190
                                                                ==========  ============



     The accompanying notes are an integral part of the consolidated financial
                                   statements.
</TABLE>


                                       16
<PAGE>
                     FEMINIQUE CORPORATION AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                           SEPTEMBER 30, 2001 AND 2000



NOTE 1-   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

          A.   THE COMPANY

          In June 1999, Biopharmaceutics, Inc. (the "Company"), pursuant to a
          meeting of the Board of Directors, adopted a resolution and filed a
          Certificate of Amendment to the Certificate of Incorporation and
          changed the name of the Company to Feminique Corporation.

          The Company, after its restructuring in 1998 (Note 2) became a
          distributor of consumer feminine hygiene and family planning products
          which were sold nationwide in major chain stores, distributors and
          wholesalers.

          In December, 1998, The Company sold off its wholly-owned subsidiary,
          Caribbean Medical Testing Center, Inc. ("CMT). CMT was acquired by the
          Company in June, 1997 and was engaged primarily in the business of
          multi-phasic specialty medical testing and laboratory services
          throughout Puerto Rico. The Company also discontinued its
          manufacturing of generic pharmaceutical products.

          In August 2000 the Company and its only operating subsidiary Quality
          Health Products, Inc. filed for reorganization under Chapter 11 of the
          United States bankruptcy Code which was confirmed July 28, 2003.

          B.   PRINCIPLES OF CONSOLIDATION

          The consolidated financial statements include the accounts of the
          Company and its subsidiaries. All significant intercompany accounts
          and transactions have been eliminated in consolidation.

          C.   REVENUE RECOGNITION

          Sales were recognized as products were shipped and royalties where
          earned.

          D.   DEPRECIATION AND AMORTIZATION

          The Company in 1999 amortized its intangible asset on the
          straight-line method over its estimated useful live of twenty years.
          Beginning in 2000 the Company depreciated its property and equipment
          on the straight-line method for financial reporting purposes. The
          Company adopted FASB 142, which recognizes accounting treatment for
          goodwill and other intangibles (See Note 3). For tax reporting
          purposes, the Company uses the straight-line or accelerated methods of
          depreciation.

          Expenditures for maintenance, repairs, renewals and betterments are
          reviewed by management and only those expenditures representing
          improvements to plant and equipment are capitalized. At the time plant
          and equipment are retired or otherwise disposed of, the cost and
          accumulated depreciation accounts and the gain or loss on such
          disposition is reflected in operations.


                                       17
<PAGE>
                     FEMINIQUE CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                           SEPTEMBER 30, 2001 AND 2000



NOTE 1-   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

          E.   DEFERRED INCOME TAXES

          Deferred income taxes are provided based on the provisions of SFAS No.
          109, "Accounting for Income Taxes" ("SFAS 109"), to reflect the tax
          effect of differenced in the recognition of revenues and expenses
          between financial reporting and income tax purposes based on the
          enacted tax laws in effect at September 30, 2001 and 2000.

          F.   EARNINGS (LOSS) PER COMMON SHARE OF COMMON STOCK

          Historical net income (loss) per common share is computed using the
          weighted-average number of common shares outstanding. Diluted earnings
          per share (EPS) includes additional dilution from common stock
          equivalents, such as stock issuable pursuant to the exercise of stock
          options and warrants. Common stock equivalents were not included in
          the computation of diluted earnings per share when the Company
          reported a loss because to do so would be antidilutive for periods
          presented.

          The following is a reconciliation of the computation for basic and
          diluted EPS:

<TABLE>
<CAPTION>
                                      September 30,    September 30,
                                           2001            2000
                                      --------------  ---------------
<S>                                   <C>             <C>

     Net Income (Loss)                $      174,936  $   (2,547,609)

     Weighted-average common shares       25,005,733      23,344,085
     Outstanding (Basic)

     Weighted-average common stock
     Equivalents
       Stock options                               -               -
       Warrants                                    -               -
                                      --------------  ---------------

     Weighted-average common shares
     Outstanding (Diluted)                25,005,733      23,344,085
                                      ==============  ===============
</TABLE>



          Earnings per share did not include potential stock issued in
          conjunction with the convertible debentures since the company is in
          bankruptcy.


                                       18
<PAGE>
                     FEMINIQUE CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                           SEPTEMBER 30, 2001AND 2000
                           --------------------------



NOTE 1-   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

          ESTIMATES

          The preparation of financial statements in conformity with accounting
          principles generally accepted in the United States of America required
          the Company's management to make estimates and assumptions that affect
          the reported amounts of assets and liabilities and disclosures 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.

          RECLASSIFICATION

          Certain amounts in the September 30, 2000 financial statement have
          been reclassified to conform with the September 30, 2001 presentation.
          The reclassifications did not effect income or loss.

          ADVERTISING COSTS

          Advertising expenditures relating to the consumer feminine hygiene and
          family planning products are expensed in the period. The advertising
          costs, consisting primarily of costs associated with trade show booths
          are amortized over the periods during which the benefits are expected.
          Advertising costs were $0 and $9,590 for September 30, 2001 and 2000
          respectively.

          RECENT ACCOUNTING PRONOUNCEMENTS

          In June 2001, the FASB issued Statement No. 142 "Goodwill and Other
          Intangible Assets". This Statement addresses financial accounting and
          reporting for acquired goodwill and other intangible assets and
          supersedes APB Opinion No. 17, Intangible Assets. It addresses how
          intangible assets that are acquired individually or with a group of
          other assets (but not those acquired in a business combination) should
          be accounted for in financial statements upon their acquisition. This
          Statement also addresses how goodwill and other intangible assets
          should be accounted for after they have been initially recognized in
          the consolidated financial statements.


                                       19
<PAGE>
                     FEMINIQUE CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                           SEPTEMBER 30, 2001 AND 2000
                           ---------------------------



NOTE 2-   BASIS OF PREPARATION - GOING CONCERN

          The Company has incurred net income (loss) from continuing operations
          of $174,936 and ($2,547609) for the years ended September 30, 2001 and
          2000, respectively, and has a deficit of $1,861,055 at September 30,
          2001. In conjunction with restructuring, the Company in August 2000
          filed for reorganization under Chapter 11 of the United States
          Bankruptcy Code. The order confirming the plan of reorganization was
          accepted July 28, 2003 (See Note 11).

          As shown in the accompanying financial statements the Company has
          sustained operating losses through September 30, 2001 and has an
          accumulated deficit of $35,954,414. The Company has filed under
          Chapter 11 of the United States Bankruptcy Code and had its order
          confirming reorganization dated July 28, 2003. The Company is a going
          concern.

          There is no guarantee that the Company will be able to raise enough
          capital, generate revenues or execute its reorganization plan to
          sustain its operations.

          Management plans to execute its reorganization and seek means of
          financing through investors and seek a potential merger.


NOTE 3-   INTANGIBLE ASSETS

          Intangible assets represented assets acquired from London
          International US Holdings, Inc., now known as SSL Americas Inc.
          comprising of trademarks, trade names and a customer base. These
          assets, which were purchased in 1996 through one of the Company's
          subsidiaries for $3,600,000 included four branded consumer product
          line (namely Koromex, Koroflex, Vaginex and Feminique). The
          obligations bore interest at 9.5% per annum and in the event of
          default, the entire unpaid balance becomes due and payable on
          trademarks and trade name purchased. The obligation at September 30,
          2001 and 2000 was in default and classified as a current liability.

          The Company on July 12, 2002 entered into an asset purchase sale with
          Clay Park Labs, Inc. In this sale the Company sold certain U.S. and
          foreign patents, trademarks, trademark applications, goodwill,
          customer lists, supplier lists, and technology. The Company understood
          that SSL Americas and LRC North America (LRC) held a first and second
          secured interest in the assets. Therefore, in consideration for the
          release of such security interest, the Company assigned the rights to
          the assets to SSL and LRC under the approval of the United States
          Bankruptcy Court (See Note 11). The Company on May 4, 2000 had
          executed a license agreement with Clay Park Health Products, Inc. to
          distribute its products worldwide. Clay Park Health Products, Inc.
          assigned that license to Clay Park Labs, Inc. The Company at September
          30, 2000 valued its intangible assets at the value of $1,700,076,
          which was equivalent to the long-term debt it owed to SSL Americas
          Inc. and certain unsecured debt of $360,000. Therefore, at September
          30, 2000 the Company recognized an impairment of $1,223,549 for that
          year as well as the regular amortization of $188,400. No impairment
          has been recorded for the year ended September 30, 2001.


                                       20
<PAGE>
                     FEMINIQUE CORPORATION AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                           SEPTEMBER 30, 2001 AND 2000
                           ---------------------------



NOTE 3-   INTANGIBLE ASSETS, CONTINUED

          The components of intangible assets as of September 30, 2001 and 2000
          are as follows:

<TABLE>
<CAPTION>
                                                         2001          2000
                                                     ------------  ------------
<S>                                                  <C>           <C>

     Trademarks, tradenames, and customer
       base acquired from London International       $ 3,771,425   $ 3,771,425
     Less:  accumulated amortization and impairment   (2,071,349)   (2,071,349)
                                                     ------------  ------------

                                                     $ 1,700,076   $ 1,700,076
                                                     ============  ============
</TABLE>


NOTE 4-   NOTES PAYABLE

          A.   On September 15, 1999, the Company borrowed $100,000 from a
               shareholder, evidenced by a convertible promissory note bearing
               interest at 8% per annum with interest payments due on October
               31, 1999, March 31, 2000 and June 1, 2000, the maturity date of
               this note.

          B.   On January 16, 2000, the Company borrowed an additional $37,000,
               the terms and conditions of which are similar to those of the
               preceding $100,000 note.

          Both notes are in default and were listed as obligations in the
          Company's filing for reorganization on August 2000.

          The Company's plan in bankruptcy reorganization as filed in August
          2000 stopped the accrual of additional interest on their notes.


NOTE 5-   LONG-TERM DEBT

          Long-term debt consists of the following:

<TABLE>
<CAPTION>
                                                         2001          2000
                                                     ------------  ------------
<S>                                                  <C>           <C>

     Note payable - in connection with purchase of
       the feminine hygiene product line (*)         $ 1,340,076   $ 1,340,076
     Less:  current maturities                        (1,340,076)   (1,340,076)
                                                     ------------  ------------

                                                     $         -   $         -
                                                     ============  ============
</TABLE>


                                       21
<PAGE>
          (*) In December, 1998, effective September 30, 1998, the Company
          modified the payment terms of its outstanding debt, the related
          accrued interest and accounts payable to London International U.S.
          Holdings, Inc. The amended terms provide for monthly payments ranging
          from $21,000 per month increasing to $43,621 per month, with the final
          payment due on or before October 1, 2003. The obligation bears
          interest at 9.5% per annum and in the event of default, the entire
          unpaid balance becomes due and payable on demand. The note defaulted
          and is classified as a current obligation at September 30, 2001 and
          2000.


NOTE 6-   CONVERTIBLE DEBENTURES PAYABLE

          The $575,000 of convertible debentures outstanding at September 30,
          2001 and 2000 mature by June 2002, with optional redemptions available
          in May or June 2000 at 105% of par. Interest of the debentures accrues
          at 10% per annum and is payable in cash or stock, at the Company's
          option, on a quarterly basis. The debentures can be converted at the
          holder's option into the Company's common stock in its entirety, or in
          multiples of $1,000, at conversion prices equal to the greater of $.54
          per share of 75% of the closing price per share over the five
          consecutive trading days immediately prior to the date of exercising
          the conversion right. At September 30, 2001 and 2000 the Company was
          not in compliance with its interest payments on the debentures. As a
          result thereof, the accompanying consolidated financial statements at
          September 30, 2001 and 2000 reflect the convertible debentures payable
          as a current liability.

NOTE 7-   STOCK OPTIONS

          In 1993, the Company adopted a stock option plan under which selected
          eligible key employees of the Company are granted the opportunity to
          purchase shares of the Company's common stock. The plan provides that
          750,000 shares of the Company's authorized common stock be reserved
          for issuance under the plan as either incentive stock options or
          non-qualified options. Options are granted at prices not less than 100
          percent of the fair market value at the date of grant and are
          exercisable over a period of ten years or a long as that person
          continues to be employed or serve on the Board of Directors, whichever
          is shorter. Under the 1993 plan, no options may be granted subsequent
          to January 5, 2003. At September 30, 2001, the Company believes all
          options have expired.

          In March 1997, the Company adopted a qualified stock option plan
          entitled the 1997 Employee and Consultant Stock Option Plan and a
          separate 1997 Non-qualified Stock Option Plan (the "Plans"). The plans
          reserved for future issuance to a total of 6,500,000 shares and
          720,000 shares, respectively. The annual meeting stockholders on July
          29,1998 voted to cancel the 1997 stock option plans and all
          outstanding options related thereto.

          In 1997, the Company adopted the disclosure - only provisions of
          Statement of Financial Accounting Standard No. 123, "Accounting for
          Stock-Based Compensation" ("SFAS No. 123"). Accordingly, no
          compensation cost has been recognized in the accompanying statement of
          operations for the stock option plans for the years ended September
          30, 2001 and 2000. No options were granted during the two-year period
          ended September 30, 2001.

NOTE 8-   INCOME TAXES

          The Company, as of September 30, 2001 and 2000, has available
          approximately $24,000,000 of net operating loss carry forwards
          (expiring through the year 2020 to reduce future Federal and State
          income taxes. Since there is no guarantee that the related deferred
          tax asset will be realized by reduction of taxes payable on taxable
          income during the carry forward period, a valuation allowance has been
          computed to offset in its entirety the deferred tax asset attributable
          to this net operating loss in the amount of approximately $9,300,000.
          The amount of the valuation allowance is reviewed periodically.


                                       22
<PAGE>
NOTE 9-   COMMITMENTS AND CONTINGENCIES

          A.   The operations and offices of the Company and its subsidiaries
               were conducted from leased premises in Bellport, New York. The
               Company entered into an agreement in January, 1999 to lease
               15,000 square feet of this facility for one year, at an annual
               rental of $90,000, with an option to renew for an additional
               year. Rent expense for 2000 approximated $90,000.

          B.   The Company had operating policies in place to ensure its
               operations were in conformity with regulatory agencies for
               environmental matters relating to the generation or handling of
               hazardous substances. While the Company does not believe that any
               such claims or assertions exist, there may be potential
               liabilities of which the Company is not aware which may result in
               an adverse effect upon the Company's financial position.

          C.   The Company and its subsidiary on May 4, 2000 signed and executed
               an exclusive license agreement with Clay Park Health Products,
               Inc. a worldwide license to manufacture, package and distribute
               its products on an exclusive basis. The Company would receive
               royalty payments under the terms of that agreement. The agreement
               was to automatically renew every six months through December 31,
               2005. On July 12, 2002 the Company assigned its rights to the
               royalty payments to LRC North America and SSL Americas (See Note
               11).

NOTE 10-  COMMON STOCK

          During the year ended September 30, 2000 the Company issued 2,011,254
          shares for consulting services valued at $78,226 and 220,305 shares
          valued at $86,190 for interest on debentures.

          During the year ended September 30, 2001 the Company issued 8,775
          shares for consulting services valued at $88 fair market value.

NOTE 11-  SUBSEQUENT EVENTS

          On July 28, 2003 the United States Bankruptcy Court Eastern District
          of New York confirmed and approved a plan of reorganization for the
          Company. Its subsidiary, Quality Health Products, Inc. had received
          their order confirming its plan of reorganization on January 29, 2003.

          The Company, in anticipation of reorganizing on July 12, 2002, entered
          into an asset purchase agreement with Clay Park Labs, Inc. whereby its
          sold without limitations the rights to all the assets used in
          connection with its feminine hygiene business. The aggregate purchase
          price was the satisfaction of certain debt of $340,308 due the
          purchaser, Clay Park Labs, Inc. which was the pre-petition debt, and
          an amount not less than $350,000 and not more than $1,500,000
          (Additional purchase price). The additional purchase price is based on
          applicable percentages of net sales of the purchaser of feminine
          hygiene products sold. The agreement is for 5 years expiring July 12,
          2007. The Company pursuant to the bankruptcy order, assigned the
          purchase price and collateral to its secured creditors. The Company
          acknowledged that LRC North America and SSL Americas, Inc. held a
          first and second priority interest in the assets and in consideration
          for the release of the security interest assigned its interest in the
          agreement.


                                       23
<PAGE>
ITEM 8.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
          FINANCIAL DISCLOSURE

None.

ITEM 8A.  CONTROLS AND PROCEDURES

                EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

The Company's Chief Executive Officer and Chief Financial Officer, Max Khan, has
reviewed and evaluated the effectiveness of the Company's disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e) as of
the end of the period covered by this annual report on Form 10-KSB.  Based on
that evaluation, Max Khan determined that he and the Company's directors and
officers, are the only individuals involved in the Company's disclosure process.
The Company has no specific procedures in place for processing and assembling
information to be disclosed in the Company's periodic reports.  The Company's
system is designed so that information is retained by the Company and relayed to
counsel as it becomes available.  The Company currently functions only as a
shell corporation as it has no revenues, significant assets or independent
operations and plans to establish more reliable disclosure controls and
procedures before margining or entering into any other business combination with
another company.

              CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING

No significant changes in the Company's internal control over financial
reporting have come to management's attention during the Company's previous
fiscal quarter that have materially affected, or are likely to materially
affect, the Company's internal control over financial reporting.

                                    PART III

ITEM 9.   DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

The following list sets forth information as to all directors and executive
officers of the Company through its fiscal year ended September 30, 2001.


                                       24
<PAGE>
JONATHAN ROSEN, age 37, has been a Director of the Company and was appointed
Acting President and Chief Executive Officer of the Company on July 29, 1998, at
the time of the previous President's resignation. He has remained acting
President and director during the filing under Chapter 11 of the Bankruptcy
Code. Since 1985, Mr. Rosen has been a director and officer of various public
corporations, many of which he helped finance.

JOHN FIGLIOLINI, age 38, became a director of the Company in 1998 and served as
an officer and director during the reorganization of the Company. Mr. Figliolini
is an investment banker and has worked in the securities industry since 1982,
raising over $250M in venture capital financing. He is currently the President
and owner of Phillip Louis Trading, Inc. a NASD registered broker dealer which
makes markets in many small cap stocks, in addition to providing investment
banking services.


                                       25
<PAGE>
                               EXECUTIVE OFFICERS

The following individuals were serving as executive officers of the Company as
of September 30, 2001.

<TABLE>
<CAPTION>
   Name        Age  Position with the Company
   ----        ---  -------------------------
<S>            <C>  <C>
Jonathan Rosen      Director, President, CEO
John Figliolini     Secretary
</TABLE>

There are no other employees of the Company.

             SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

Section 16(a) of the Exchange Act requires the Company's directors, executive
officers and persons who own more than ten percent of the Company's outstanding
Common Stock to file with the SEC and the Company reports on Form 4 and Form 5
reflecting transactions affecting beneficial ownership.  The Company does not
believe that, during fiscal years ended 2001 and 2000, all persons complied with
such filing requirements.


ITEM 10.   EXECUTIVE COMPENSATION

<TABLE>
<CAPTION>
                                                                 Long-Term
                                                                 ---------
                                     Salary      Bonus       Compensation Awards:
                                     ------     ------       --------------------
Name and Principal Position  Year  Annual Compensation  Securities Underlying Options
---------------------------  ----  -------------------  -----------------------------
<S>                          <C>   <C>          <C>        <C>
Jonathan Rosen-Former        2000  $         -  None                  None
Acting CEO                   2001  $         -  None                  None

John Figliolini              2000  $         -  None                  None
Secretary                    2001  $         -  None                  None

John Grein                   2000  $    28,000  None                  None
Sr. VP of Finance            2001         None  None                  None
</TABLE>

                       EMPLOYMENT AND SEPARATION AGREEMENT

The Company does not have any employment or separation agreements with any
officers or directors.

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
          RELATED STOCKHOLDER MATTERS

The following table sets forth information at September 30, 2001 concerning
ownership of the Company's common shares by each director and executive officer
and each person who owns of record, or is known to the Company to own
beneficially, more than five percent of the Company's common shares.


                                       26
<PAGE>
<TABLE>
<CAPTION>
BENEFICIAL OWNER                    BENEFICAL OWNERSHIP  PERCENT OF CLASS
----------------                    -------------------  ----------------
<S>                                 <C>                  <C>
Jonathan Rosen (1) (2)                     500,000            2.20%
John Figliolini (2)                      2,279,537            9.50%
Dynamic Corporation Holdings, Inc.               5

Renaissance Capital
Partners LTD.                            4,513,000           19.83%

LGT Bank in Liechtenstein AG             5,582,344           24.52%

All Directors and Officers
  as a group (2 persons)(1)(2)           2,782,990           12.4%
<FN>
     (1)  Does not include 47,500 shares of common stock held by Mr. Rosen in the name of
          Anglo Co. Ltd. or reflect his 50% interest in Dynamic Corporate Holdings, Inc.

     (2)  Does not include 5,454,544 shares of common stock held equally with
          Jonathon Rosen held in the name of Dynamic Corporate Holdings
          Corporation.
</TABLE>

ITEM 12.   CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

John Figliolini, a Director of the Company, acted as a paid consultant to Dondo
Associates, Inc. in connection with the sale of CMT and substantially assisted
in obtaining the ultimate cancellation of the Company's indebtedness to Dondo.


ITEM 13.   EXHIBITS AND REPORTS ON FORM 8-K

     (a)  Exhibits.

          None

     (b)  Reports for 8-K.

          None


                                       27
<PAGE>
                                   SIGNATURES

In accordance with Section 13 or 15(d) of the Securities Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

                              FEMINIQUE CORPORATION

                                 /s/    Max Khan
                                ----------------
                                  By: Max Khan
                            Chief Executive Officer,
                             Chief Financial Officer
                             Date:  December 7, 2003

In accordance with the Exchange Act, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated:

                                 /s/    Max Khan
                                ----------------
                                  By: Max Khan
                            Chief Executive Officer,
                      Chief Financial Officer and Director
                             Date:  December 7, 2003


                                       28
<PAGE>