U.S. Securities and Exchange Commission
                   Washington, D.C. 20549

                        Form 10-KSB

  [X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934

        For the Fiscal Year ended September 30, 2002

                             Or

  [   ] TRANSITION REPORT UNDER SECTION 13 0R 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934

  For the transition period from __________ to ___________

             Commission file number:  000-13846

               STRATEGIC ALLIANCE GROUP, INC.
       (Name of Small Business Issuer in its charter)

            Florida                              75 14 33 000
  (State or other jurisdiction of  (I.R.S. Employer Identification No.)
   incorporation or organization)

       3551 S.W. Corporate Parkway
           Palm City, Florida                         34990
  (Address of principal executive offices)         (Zip Code)

                            (772) 283-4490
                      Issuer's telephone Number

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

  Title of Each Class      Name of Each Exchange On Which registered

          None                           None

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

          COMMON STOCK, PAR VALUE  $.10 PER SHARE
                      (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 period that the registrant was required to file such
  reports), and (2) has been subject to such filing requirements for
  the past 90 days.

  [X]  YES       [  ]   NO

  Check if no disclosure of delinquent filers in response to Item 405
  of Regulation S-B is 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.

  [ X ]

  The issuer's revenue for the most recent fiscal year was $0.00

  The aggregate market value of the voting stock held by non-affiliates
  computed by reference to   the price at which the stock was sold,
  or the average bid and asked price of such, as of a specified date
  within the prior 60 days was $237,500 based on the average of the
  closing bid and asked   obtained from the OTC Bulletin Board on
  September 30, 2001.

  The number of shares outstanding of each of the Issuer's classes
  of common equity as of September 30, 2001 was;

            Common Stock   475,000,000 shares


  Transitional Small Business Disclosure Format  YES [    ]   NO  [X ]


  TABLE OF CONTENTS
  Item 1    - Description of Business
  Item 2    - Description of Property
  Item 3    - Legal Proceedings
  Item 4    - Submission of Matters to a Vote of Security Holders
  Item 5    - Market Price of and Dividends on the Registrant's Common
              Equity and Related Stockholder Matters
  Item 5.1  - Description of Securities
  Item 6    - Management's Discussion and Analysis or Plan of Operation
  Item 7    - Changes in and Disagreements with Accountants
  Item 8    - Financial Statements
  Item 9    - Directors and Executive Officers, Promoters and Control
              Persons

  Item 10   - Executive Compensation
  Item 11   - Security Ownership of Certain Beneficial Owners and
              Management
  Item 12   - Certain Relationships and Related Transactions

                          PART  I.
  Statements contained in this Form that are not historical facts are
  forward looking statements as the term is defined in the Private
  Securities Litigation Reform Act of 1995. Such forward-looking
  statements are subject to risks and uncertainties, which could
  cause actual results to differ materially from original estimates.
  Such risks and uncertainties are detailed in filings with the
  Securities And Exchange Commission, including without limitation
  in Item 1  "DESCRIPTION OF BUSINESS" and Item 6 MANAGEMENT
  DISCUSSION AND ANALYSIS OR PLAN OF OPERATION" below.

  ITEM  1  DESCRIPTION OF BUSINESS

  (a) Business Development
  Strategic Alliance Group, Inc. was incorporated under the laws of
  the State of Florida on October 24, 1983, under the name Bio-Analytic
  Laboratories, Inc (Florida). On October 25, 1983, this company
  merged with Bio-Analytic Laboratories, Inc., a Texas corporation.
  The Texas corporation was the surviving company. The sole reason
  for the merger was to effect a change in   its state of domicile
  from the State of Texas to the State of Florida. On October 25, 1983,
  the date of the merger, Bio-Analytic (Florida) had not issued any of
  its common stock and the   shareholders of Bio-Analytic (Texas)
  became the shareholders of Bio-Analytic (Florida) on a share for
  share basis.

  Eutro Group Holding, Inc. was incorporated under the laws of the
  State of Florida in September,   1991. In that month, it completed
  a reverse acquisition of Bio-Analytic Laboratories, Inc. Eutro
  Group Holding, Inc. was the holding company and Bio-Analytic
  Laboratories, Inc. became its   only wholly owned operating
  subsidiary.

  On May 6,1998, Eutro Group Holding, Inc. sold its Bio-Analytic
  Laboratories, Inc. subsidiary to Cypro Environmental Group, Inc.,
  a privately held corporation incorporated under the laws of the
  State of Florida. As consideration for this sale, Eutro received
  500,000 shares of Cypro common stock that it valued at $1,000,000.

  Since May 6, 1998, Eutro Group Holding, Inc. has not had an
  operating subsidiary.

  On May 17, 1999, negotiations were concluded by which Eutro Group
  Holding, Inc. would be acquired by Ivy Entertainment.Com, Inc. in
  a reverse merger.  As consideration for this reverse merger, Eutro
  was issued and exchanged 8,575,000 shares of its common stock,
  after it was to undergo a 250 for 1 reverse split. These shares
  were to be issued to the sole stockholder of Ivy, Mr. Richard
  Gladstone, in exchange for 1000 shares of common stock of Ivy
  Entertainment.Com, Inc. that is the total amount of common stock
  issued and outstanding.

  The shares of Eutro common stock to be received by Mr. Gladstone
  pursuant to the reverse acquisition agreement would be restricted
  stock as defined in Rule 144 of the Securities Act.

  A vital clause in the acquisition agreement between Eutro and IVY
  was that Mr. Richard   Gladstone, IVY's sole stockholder, guarantee
  that IVY have a minimum of $6,000,000 in tangible assets when the
  merger is completed.

  On February 9, 2001, Mr. Floyd D. Wilkenson, Director of Mezzanine
  Finance Fund, LLC., and former Chairman of the Board of Directors
  of Eutro Group Holding, Inc. sent a letter to Mr. Richard Gladstone,
  CEO of Ivy Entertainment.Com, Inc. in which Wilkenson informed
  Gladstone and Ivy that he considered them to not have performed on
  three provisions specified in the Agreement of Merger between the
  two companies signed May 17, 1999.

  The three provisions are;
        1.  Failure of Ivy Entertainment.Com, Inc. to have the
            $6,000,000 in assets required of it before its merger
            with Strategic Alliance Group, Inc. can be consummated
        2.  Failure to meet the time requirement for consummation
            of the merger while being fully aware that time is of
            the essence.
        3.  Failure to meet the requirement for the extension of
            time limits contained in the Agreement, since the initial
            date for closing was set for June 30, 1999.

  This action was instigated by the approach to Wilkenson of a
  Strategic shareholder group concerned at the unexplainable
  delays in the fulfillment of the terms of the Acquisition
  Agreement. After due consideration of the arguments presented,
  Wilkenson chose to invoke Articles 10.1(b) and 10.2 of the Agreement
  to effect its termination and to be given written notice thereof.

  Gladstone was given 10 days to cure the matters giving rise to
  this situation. Since no cure was   performed, the Agreement was
  terminated effective the 10th business day following receipt by
  Gladstone. The Acquisition Agreement between Strategic Alliance
  Group, Inc, and Ivy Entertainment.Com, Inc. is now null and void.

  (b) Business Of Issuer
  Strategic Alliance Group, Inc. offered consulting services to a
  wide range of clients, from small   private companies to medium
  size public companies. It assisted companies in bringing new
  products to market, provided sales and marketing advice and other
  general consulting services that were particularly aimed at small
  to medium sized companies that planned on raising capital in public
  and private securities offerings.

  Strategic worked with company management and assisted it in the
  development of a company business plan, in adopting a proper
  capital structure, develop a consistent corporate story and create
  and implement a stock option plan.

  Strategic specialized in financial public relations. It advised
  management in the proper way to disseminate the corporate story to
  the investing community thereby attracting the attention of
  stock-buyers to its shares. If the client was a private company,
  the focus was to get its story to the consumer so that the company
  is known, held in high esteem and its products preferred by the
  consumer.

  Strategic's fee was usually divided into two parts. The first was
  a cash payment to cover direct expenses and the second was a block
  of the client's common stock. If the client was not, and had
  no intention of becoming, a public company, then Strategic's
  entire fee was in cash. As a result of receiving compensation in
  this manner, Strategic benefited from any appreciation in the price
  of its clients shares.

  Strategic's clients came to the company by personal referral. It
  did not engage in extensive advertising in either the financial
  or the popular media.

  The competitive situation is quite intense as there are a host of
  persons and companies who offer similar services. These range from
  corporate giants with offices in most of the developed and
  developing countries of the world, to the individual who may be
  specialized in one particular sector. Strategic did not hold itself
  out as being able to fulfill any request made of it. In the event
  that a particular client needed expertise outside of that which
  Strategic could offer, it formed a syndicate with other consulting
  companies or freelance specialists.

  The personnel situation is as follows. Being a holding company,
  Strategic Alliance Group, Inc. since its founding in 1991, has not
  had, and to this day does not have, permanent employees. The
  company affairs are managed by an unsalaried Board of Directors.
  At present, Strategic has a contractual agreement with Mezzanine
  Finance Fund, LLC. a Florida limited liability company, to provide
  the personnel to manage Strategic's affairs until merger partner
  is found and a merger completed.

  It is worth emphasizing that the current business of Strategic
  Alliance Group, Inc. is to place itself in a proper posture to
  complete a reverse acquisition and continue its existence as a
  viable entity which is something that it cannot do by continuing
  under its present modus operandi.

  ITEM  2  DESCRIPTION OF PROPERTY

  (a) Neither Strategic Alliance Group, Inc. nor Bio-Analytic
  Laboratories, Inc., its former subsidiary, owned the offices and
  production facilities they occupied.

  ITEM  3  LEGAL PROCEEDINGS

     (a)    Pending legal proceedings
  On September 30, 2002, Strategic Alliance Group, Inc. had no pending
  legal proceedings against it and its management was not aware of
  any that were awaiting filing.

     (b)    Pending governmental agency procedures
  On September 30, 2002, Strategic Alliance Group, Inc. had no
  pending governmental agency   procedures against it and its
  management was not aware of any that were awaiting submission by
  any governmental agency.

  ITEM 4  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
  There were no matters submitted to a vote of security holders
  through the solicitation of proxies or otherwise during the fiscal
  year covered by this report.

                          PART II
  ITEM 5.   MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

  (a)Market Information
     (1)    The common stock of Strategic Alliance Group, Inc. is
     traded on the OTC Electronic Bulletin Board "Pink Sheets",
     under the symbol "STGE".
     (2)    The range of the high and low bid for each quarter of
     the last two fiscal years follows.

  PERIOD      		   HIGH          	 LOW
                	   BID             	 BID
  2002
  1st Qtr                  0.005               0.005
  2nd Qtr                  0.009               0.004
  3rd Qtr                  0.0005              0.0004
  4th Qtr                  0.0005              0.0004

  2001
  1st Qtr                  0.006               0.003
  2nd Qtr                  0.002               0.001
  3rd Qtr                  0.002               0.001
  4th Qtr                  0.016               0.009

  2000
  1st Qtr                  0.017               0.006
  2nd Qtr                  0.088               0.009
  3rd Qtr                  0.054               0.014
  4th Qtr                  0.013               0.004

     (3)    The source of the high and low bid information submitted
            above is the daily summary made available by the OTC
            Electronic Bulletin Board.

     (4)    No cash or stock dividends have been declared on the
            Strategic Alliance Group, Inc. common stock because of
            a paucity of earnings and of cash with which dividends
            could have been paid.

     (5)    Strategic common stockholders did receive two
            distributions of assets as follows. On June 12, 1998,
            for each 1000 shares of common stock held, they received
            2 shares of the common stock of Cypro Environmental Group,
            Inc.  On January 30, 1998, for each 10,000 shares of common
            stock held, they received 17 shares of Freedom Medical
            Group, Inc.

  ITEM 5 - 1  DESCRIPTION OF SECURITIES

  Strategic Alliance Group, Inc. has two classes of capital stock
  outstanding

  A - Common Stock
  On November 4, 1998, documents were filed with the Secretary of
  State of Florida increasing the authorized common stock of
  Strategic Alliance Group, Inc. from 100,000,000 to its present
  amount of 500,000,000 shares.

  The common stock has the right to receive the amount of dividends
  declared from time to time by the Board of Directors in accordance
  with, and resulting from, the operating performance of the
  company.

  Each common share is entitled to cast one vote in any matter legally
  presented to it.

  No preemptive rights are inherent in the common stock.

  No other material rights are contained other than the normal rights
  to a proportionate distribution of liquidating dividends after
  satisfaction of any and all prior claimants.

  There is no provision in the charter or by-laws that would delay,
  defer or prevent a change in control of Strategic Alliance Group,
  Inc.

  B - Class A Preferred Stock
  On April 16, 1997, the Articles of Incorporation of Strategic
  Alliance Group, Inc. were amended   to authorize the issuance of
  5,000,000 shares of $.10 par value preferred stock (Class A).

  Strategic stockholders on June 30,1997, were offered the opportunity
  to exchange not more than   80% of their common stock holdings for
  Class A preferred stock. This offer was made to   stockholders of
  record on June 30, 1997. The Class A Preferred Stock will not be
  sold or made available for purchase by the general public. Under
  the terms of the exchange offer, a common stockholder who tendered
  50 shares of Strategic common stock received one share of Series A
  Preferred stock and 10 stock warrants. Fractional shares were
  compensated to the stockholder at the rate of $.04 per common share.
  Strategic has authorized the issuance of 25,000,000 shares of its
  common stock to Mezzanine Finance Fund, LLC, its authorized agent
  to offset any conversions, exchanges or liabilities of any kind
  from common stockholders that may occur. These will be restricted
  shares under Rule 144.   This will bring the total number of
  issued and outstanding shares to 475,000,000.

  C - Debt securities
  Strategic Alliance Group, Inc. has no debt securities outstanding
  and has no plans or intentions to issue any such securities.

  D - Other securities to be offered
  At this time, and in this document, Strategic Alliance Group, Inc.
  is registering no other securities.

  ITEM 6  MANAGEMENT'S PLAN OF OPERATION
  The following description of the financial condition and results
  of operations should be read in conjunction with financial
  statements and related notes appearing in Item 8 of this Form
  10-KSB.   Except for the historical information contained herein,
  the discussion in this Form 10-KSB contains forward looking
  statements that involve risks, uncertainties and assumptions such as
  statements of  plans, objectives, expectations and intentions.
  The cautionary statements made in this Form 10-KSB should be read
  as being applicable to all forward-looking statements wherever
  they appear in this document. The actual results, levels of
  activity, performance, achievements and prospects could differ
  materially from those discussed below. Factors that could cause or
  contribute to such differences include those discussed elsewhere in
  this Form 10-KSB.

     (a)    Plan of operation
  It is highly unlikely that Strategic Alliance Group, Inc. can
  satisfy its cash requirements for the   next 12 months without
  resorting to raising additional funds.

  Strategic plans no product research and development for the term of
  the Plan.

  During the period covered by the financial statements and the next
  12 months of this Plan, Strategic significantly changed the focus of
  its business activities from business and   financial consulting to
  the sale of the company to a more financially secure organization
  that could make better use of its OTC Electronic Bulletin Board
  listing.

  ITEM 7  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
  AND FINANCIAL DISCLOSURE
  The present auditor of Strategic Alliance Group, Inc. is Mr. Aaron
  Stein, CPA, of 534 Willow   Avenue, PO Box 315, Cedarhurst, New York
  11516, telephone, (516) 569 0520.

  Strategic Alliance Group, Inc. has not changed accountants during
  the last two fiscal years, nor   has it had any disagreements with
  the accountants on any matter of accounting principles or
  practices, financial statement disclosures, or auditing scope
  or procedures.

  ITEM  8  FINANCIAL STATEMENTS

  STRATEGIC ALLIANCE GROUP, INC.

  AUDITED FINANCIAL STATEMENTS

  Fiscal Years ended September 30, 2002 and 2001



  Table of Contents

  Report of Independent Accountant
  Financial Statements
   Balance Sheet
   Statement of Operations
   Statement of Changes in Stockholders' Deficit
   Statement of Cash Flow
   Notes to Financial Statements



    Aaron Stein
  CERTIFIED PUBLIC ACCOUNT
  981 ALLEN LANE
  P.O. BOX 406
  WOODMERE, NY 11598
  516-569-0520

  To the Board of Directors and Shareholders'

       Strategic Alliance Group, Inc.

  I have audited the accompanying balance sheet of Strategic Alliance
  Group, Inc. as of September 30, 2002, and the related statement of
  operations, changes in stockholders' deficit and cash flows for
  each year September 30, 2002 and 2001. These financial statements
  are the responsibility of the Company's management. My
  responsibility is to express an opinion on these financial
  statements based on my audit.

  I conducted my audit in accordance with generally accepted auditing
  standards. Those standards require that I plan and perform the audit
  to obtain reasonable assurance about whether the financial
  statements are free of material misstatement. An audit also includes
  assessing the accounting principles used and significant estimates
  made by management, as well as evaluating the overall financial
  statement presentation. I believe that my audit provides a
  reasonable basis for my opinion.

  In my opinion, the financial statements referred to above present
  fairly, in all material respects, the financial position of Eutro
  Strategic Alliance Group, Inc. as of September 30, 2002 and the
  results of its operations and its cash flows for the two years
  ended September 30, 2002 and 2001 in conformity with generally
  accepted accounting principles.

  The accompanying financial statements have been prepared assuming
  that the Company will continue as a going concern. As discussed
  in Note 2 to the financial statements, the Company, has a very
  limited operating history, has a shareholder and working capital
  deficiency and has suffered recurring losses since   inception.
  The Company's lack of financial resources and liquidity as of
  September 30, 2002 raises substantial doubt about its ability
  to continue as a going concern. Management's plans in regard to
  these matters are described in Note 2. The financial statements
  do not include any adjustments that might result from the outcome
  of this uncertainty.

  Aaron Stein
  Woodmere, New York
  October 15, 2002

                    STRATEGIC ALLIANCE GROUP, INC.
                             BALANCE SHEET
                        SEPTEMBER 30, 2002



  ASSETS

  CURRENT TOTAL ASSETS
      Cash and cash equivalents               $         0




  TOTAL ASSETS                                $         0

  LIABILITIES AND STOCKHOLDERS' DEFICIT

  CURRENT LIABILITIES
      Preferred dividends                     $         0


  STOCKHOLDERS' DEFICIT
      Common stock, $.10 par value,
      authorized 500,000,000 shares,
      450,000,000 issued and outstanding       45,000,000
      Plus, 25,000,000 Issued but reserved      2,500,000
      for balance of remaining preferred
      shares and cumulated interest,
      Equals 475,000,000

  Additional paid-in capital                 (47,500,000)

  Total Liabilities and Stockholders Equity            0
530:



  See accompanying notes to financial statements


  STRATEGIC ALLIANCE GROUP, INC.
  STATEMENT OF OPERATIONS


                                          Years ended September 30,
                                           2002               2001

  REVENUE                             $        0      $      0


  GENERAL AND ADMINISTRATIVE EXPENSES          0             0


  OPERATING LOSS                               0             0


  OTHER INCOME (EXPENSES)
   Gain on sale of fixed assets                0             0
   Interest expense                            0             0

             Total


             LOSS BEFORE PROVISION FOR
                INCOME TAXES                   0             0


  INCOME TAXES                                 0             0

  NET LOSS                             $       0      $      0


   LOSS PER SHARE
   Basic                                    nil            nil

  AVERAGE NUMBER OF COMMON SHARES
  OUTSTANDING
   Basic                            475,000,000     406,249,977



  See accompanying notes to financial statements


  STRATEGIC ALLIANCE GROUP, INC.
  STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
583:
584:
                   Preferred Stock     Common Stock        Additional
                                                            Paid In
                  Shares   Amount   Shares      Amount      Capital
  Balance 9/30/01 197,944 $19,794 406,249,977 $40,624,977

  Balance 9/30/02     0       0   475,000,000 $47,500,000 ($47,500,000)


                   Accumulated
                     Deficit        Total
  Balance 9/30/01                 (134,394)

  Balance 9/30/02                        0


  See accompanying notes to financial statements


  STRATEGIC ALLIANCE GROUP, INC.
  STATEMENT OF CASH FLOWS


                                              ears ended September 30,
                                                  2002        2001

  CASH FLOWS FROM OPERATING ACTIVITIES

       Net loss                                 $    0     $    0

       Adjustments to reconcile net loss to
            net cash used by operating activities:
                 Gain on sale of fixed assets        0        (45)
                 Issuance of common stock for
                 services rendered and other
                 long-term liabilities               0          0


            Changes in operating assets and liabilities:
                 Accounts payable and accrued
                    expenses                         0          0
                 Preferred dividends   See Note      0          0
                 Other long term-liabilities         0          0

                      Net cash used in operating
                      activities                     0          0


  CASH FLOWS FROM INVESTING ACTIVITIES

       Proceeds from sale of furniture and equipment 0          0


  CASH FLOWS FROM FINANCING ACTIVITIES

       Proceeds from sale of common stock            0          0


            NET INCREASE/DECREASE IN CASH AND
                   CASH EQUIVALENTS                  0       (45)
644:
  CASH AND CASH EQUIVALENTS, Beginning               0        174

  CASH AND CASH EQUIVALENTS, Ending            $     0     $    0




  See accompanying notes to financial statements


  STRATEGIC ALLIANCE GROUP, INC.
  NOTES TO FINANCIAL STATEMENTS
  SEPTEMBER 30, 2002
  Note 1: Organization, Business and Significant Accounting Policies
       Organization

       Strategic Alliance Group, Inc. (the Company) was originally
       incorporated in Florida as Eutro Group Holding, Inc. in
       September 1991. On October 18, 1999 the Company filed its
       Articles of Amendment to its Articles of Incorporation
       thereby changing its name to Strategic Alliance Group,
       Inc. In September 1991 the Company completed a reverse
       acquisition of Bio-Analytic Laboratories, Inc., which then
       became a wholly owned operating subsidiary of the Company.
       On May 6, 1998, the Company sold its Bio-Analytic Laboratories,
       Inc. subsidiary. Since May 6, 1998, the Company has not had
       an operating subsidiary.

       Business
       Strategic Alliance Group, Inc. is a holding corporation.
       Its principal business is to own operating subsidiaries and
       assist these companies as well as other small and medium size
       companies with research, development, marketing and sales.
       Additionally, the Company will assist in the development of
       business plans and specializes in financial public relations.

       Significant accounting policies
       Use of Estimates in Financial Statements Management uses
       estimates and assumptions in preparing these financial
       statements in accordance with generally accepted accounting
       principles.  Those estimates and assumptions affect the
       reported amounts of assets and liabilities, the disclosure
       of contingent assets and liabilities, and the reported revenue
       and expenses. Actual results could vary from the estimates
       that were used.

       Cash and Cash Equivalents   For purposes of reporting cash
       flows, the Company considers all cash accounts, which are
       not subject to withdrawal restrictions or penalties, as cash
       and equivalents in the accompanying balance sheet.

       Income Taxes - Statement of Financial Accounting Standards
       No. 109 (FAS 109), "Accounting for Income Taxes" is effective
       for financial statements issued for fiscal years beginning on
       or after December 15, 1992. Under FAS 109, deferred income
       taxes generally represent the future tax effect of existing
       differences between the book and tax bases of assets and
       liabilities, using the tax rates and laws existing as of the
       latest balance sheet date.

       The Company has not elected early adoption of this statement.
       The adoption of FAS 109 is not expected to have a material
       effect on the Company's financial position or results of
       operations due to the Company's NOL position and recent losses.
       The Company expects to record a deferred tax asset that will
       be fully reserved through the recording of a 100% valuation
       allowance.

       Earnings per Common Share - Basic loss per common share is
       computed using the weighted average number of common shares
       outstanding during the year.

  Note 2: Going Concern Consideration
       The accompanying financial statements have been prepared
       assuming that the Company will continue as a going concern.
       The Company has a very limited operating history, has a
       shareholder and working capital deficiency and has had losses
       since inception. The Company's lack of financial resources
       and liquidity at September 30, 2002 raises substantial doubt
       about its ability to continue as a going concern. The financial
       statements do not include any adjustments that might
       result from the outcome of this uncertainty. The Company
       has been dependent upon raising debt and equity funding
       to remain in existence as a going concern. Its continued
       existence is also dependent on equity funding.

       The Company will continue to actively search for other
       suitable operating companies to effectuate
       a merger with.

  Note 3: Shareholders' Deficit
       None
                          Part III
  ITEM  9  DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
  PERSONS;  COMPLIANCE WITH SECTION 16 (a) OF THE EXCHANGE ACT
  DIRECTORS AND EXECUTIVE OFFICERS

  The temporary Sole Director of Strategic Alliance Group, Inc. is
  listed as follows:

                                                  Date of      Term
  Name                 Age     Position           Election    Expires

  Floyd D. Wilkenson   79  Temp. Sole Director  Sept. 1, 2001    --

  On February 26, 2001, Strategic Alliance Group, Inc. responded to
  Mark Colacurcio's notice of   resignation by setting a later date
  of acceptance of his resignation so that the former Board could
  arrange for a temporary replacement.

  Mr. Colacurcio filled in as Sole Director and President until
  September of 2001, when Mr. F.D. Wilkenson replaced Mark Colacurcio,
  as Sole Director.

  SIGNIFICANT EMPLOYEES
  Strategic Alliance Group Inc.'s sole person responsible for
  executive management is Floyd D.   Wilkenson.  Mr. Wilkenson
  is a non-compensated director.

  FAMILY RELATIONSHIPS
  No family relationships between any directors or executive officers
  of the company exist, either by blood or by marriage.

  DIRECTORSHIPS OF OTHER REPORTING COMPANIES
  None of the officers and directors of Strategic Alliance Group, Inc.
  hold directorships in other reporting companies.

  PROMOTERS AND CONTROL PERSONS
  There are no promoters actively involved with Strategic Alliance
  Group, Inc. at this time.

  INVOLVEMENT IN CERTAIN LEGAL PROCEEDINGS
  Except as set forth below, during the past five years, no director,
  person nominated to become a   director, executive officer, promoter
  or control person of Strategic Alliance Group, Inc.:

     (1)    was a general partner or executive officer of any business
            against which any bankruptcy petition was filed, either
            at the time of the bankruptcy or two years prior to that
            time;
     (2)    was convicted in a criminal proceeding or named subject
            to a pending criminal proceeding (excluding traffic
            violations and other minor offenses);
     (3)    was subject to any order, judgement or decree, not
            subsequently reversed, suspended or vacated, of any
            court of competent jurisdiction, permanently or
            temporarily enjoining, barring, suspending or otherwise
            limiting his involvement in any type of business,
            securities or banking activities; or
     (4)    was found by a court of competent jurisdiction (in a
            civil action) the SEC or the Commodity Futures Trading
            Commission, to have violated a federal or state
            securities or commodities law, and the judgement has
            not been reversed, suspended or vacated.

  ITEM 10  EXECUTIVE COMPENSATION
  Executive compensation
  The only executive was the President and Chief Executive Officer,
  Floyd D. Wilkenson. He received no compensation for the services
  he rendered either in cash or in stock or in any other form of
  direct compensation or perquisites of any kind.

  Director Compensation
  The directors of Strategic Alliance Group, Inc. received no direct
  monetary compensation.  The directors received no compensation
  either in stock or in cash or in options or in stock appreciation
  rights or perquisites of any kind.

  ITEM 11  SECURITY OWNNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
           MANAGEMENT

     (a)    Security ownership of certain beneficial owners.
817:
  As of the date of submission of this Form 10-KSB there is no person
  (including any "group") known to Strategic Alliance Group, Inc. to
  be the beneficial owner of more than five percent of Strategic's
  voting securities.

     (b)    Security ownership of management

  Title of class   Name and address    Amount and nature    Percent
                    of bene. owner    of bene. ownership    of class

  Common Stock   Floyd D. Wilkenson       0  shares           0%
                 3551 SW Corp. Prkwy
                 Palm City, FL 34990

     (c)    Changes in control
  There are no internal arrangements either by agreement or in the
  by-laws of Strategic Alliance Group, Inc. that would inhibit or
  prohibit a change in control of the Company.

  ITEM  12  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
  Floyd D. Wilkenson in 1999 was issued 20,000,000 shares of
  restricted (144) stock for the $470,000 balance of funds advanced
  to Eutro Group Holding, Inc. by Wilkenson before it became Strategic
  Alliance Group, Inc.  These shares were transferred to a family
  trust prior to September 2001.  They were sent to be transferred
  by the Transfer Agent in July of 2002.

  ITEM 13  EXHIBITS, LIST AND REPORTS ON FORM 8-K
  None

  SIGNATURES
  In accordance with Section 13 or 15(d) of the securities Exchange
  Act of 1934, the registrant has caused this report to be signed
  on its behalf by the undersigned, thereunto duly authorized.

  Startegic Alliance Group, Inc.
  By / s /  Floyd D. Wilkenson
  ________________________________
  Floyd D. Wilkenson
  Sole Director and Officer
  Date September 30, 2002