CROWN INTERNATIONAL INC.



                           Filing Type:     10KSB
                           Description:     Annual Report
                           Filing Date:     July 11, 2003
                           Period End:      March 31, 2003


     Primary Exchange:                      Over the Counter Bulletin Board
     Ticker:




<PAGE>
                                Table of Contents

                                Index to Annual
                              Report on Form 10-KSB

                    For The Fiscal Year Ended March 31, 2003

                                                                           Page

Part I                                                                        1

Item 1.    Description of Business                                            1

Item 2.    Description of Property                                            7

Item 3.    Legal Matters                                                      7

Item 4.    Submission of Matters to a Vote of Security Holders                7

Part II                                                                       7

Item 5.    Market for Common Equity and Related Stockholder Matters           7

Item 6.    Plan Of Operation                                                  8

Item 7.    Financial Statements                                               9

Item 8.    Changes In and Disagreements With Accountants on Accounting        9
           and Financial Disclosure

Part III                                                                      9

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

Item 10.   Executive Compensation                                            10

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

Item 12.   Certain Relationships And Related Transactions                    12

Item 13.   Exhibits and Reports on Form 8-K                                  12

SIGNATURES                                                                   13


<PAGE>
                     U.S. SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-KSB

       [X]           ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934
                    For the Fiscal Year Ended: March 31, 2003

       [ ]            TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934
                    For the transition period from         to

     Commission File No. 000-31915

                          CROWN INTERNATIONAL, INC./FL
            --------------------------------------------------------
            (Name of small business issuer as specified in its chart

                FLORIDA                                      65-0716874
     -------------------------------                   ----------------------
     (State or other jurisdiction of                       (IRS Employer
      incorporation or organization)                   Identification Number)

                        80 Richmond St. West, Suite 1604
                        Toronto, Ontario Canada M5H 2A4
        -----------------------------------------------------------------
              (Address of principal executive offices) (Zip Code)

Issuer's  telephone  number:  416-866-8213
                              ------------
Securities registered pursuant to Section 12(b) of the Exchange Act:     None

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

                    Common Stock, par value $.001 per share
                                (Title of Class)

Check  whether  the Registrant (1) has filed all reports required to be filed by
Section  13  or  15(d) of the Securities Exchange Act of 1934 during the past 12
months  (or  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  disclosure of delinquent filers in response to Item 405 of Regulation
S-B  is  not contained in this form, and no disclosure will be contained, to the
best  of  registrant's  knowledge, in definitive proxy or information statements
incorporated  by  reference  in Part III of this Form 10-KSB or any amendment to
this  Form  10-KSB.  [ ]

State issuer's revenues for twelve months ended March 31, 2003: NIL

State the aggregate market value of the voting and non-voting common equity held
by  non-affiliates computed by reference to the price at which the common equity
was  sold,  or  the  average  bid and asked price of such common equity, as of a
specified  date  within  the  past  60  days: Not applicable. The Company has no
public  trading  market.

State the number of shares outstanding of each of the issuer's classes of common
equity,  as of the latest practicable date: 3,103,900 shares of common stock, as
of  March  31,  2003.

DOCUMENTS INCORPORATED BY REFERENCE: Refer to Item 4. Submission of Matters to a
Vote  of  Security  Holders,  page  7  herein.

Transitional Small Business Disclosure Format:  No

This  Form  10-KSB  contains  "forward-looking  statements"  relating  to  the
Registrant  which  represent  the  Registrant's  current expectations or beliefs
including,  but  not  limited to, statements concerning Registrant's operations,
performance,  financial  condition  and growth. For this purpose, any statements
contained  in  this  Form  10-KSB that are not statements of historical fact are
forward-looking  statements.  Without  limiting the generality of the foregoing,
words  such  as  "may",  "anticipation",  "intend",  "could",  "estimate",  or
"continue"  or  the  negative  or  other  comparable terminology are intended to
identify  forward-looking  statements.  These statements by their nature involve
substantial  risks  and  uncertainties, such as credit losses, dependence on key
personnel  and  variability  of  quarterly  results,  ability  of  Registrant to
continue  its  growth  strategy and competition, certain of which are beyond the
Registrant's  control.  Should  one  or  more  of  these  risks or uncertainties
materialize  or  should  the  underlying  assumptions  prove  incorrect,  actual
outcomes  and  results  could  differ  materially  from  those  indicated in the
forward-looking  statements.


                                        1
<PAGE>
PART  I
ITEM  1.  DESCRIPTION  OF  BUSINESS
-----------------------------------

 (a)  BUSINESS  DEVELOPMENT
 --------------------------

     Crown  International Inc. (the "Company") was incorporated on December 6th,
1996  under  the  laws  of  the  State  of  Florida  under  the  name  of  Crown
International  Inc.  See  Exhibit 3.1 at Page E-5. The Bylaws of the Company are
included  as Exhibit 3.2 Page E-10.The above exhibits were previously filed with
the  10SB  November  2,  2000.

From  the  date of its incorporation to 31 March 2003 the Company has undertaken
the  following  activity.

1.  On  November 5th, 1999 the Company entered into a Bill of Sale with Greatway
Global  Communications  Corp. (identified hereinafter as "Greatway") an Ontario,
Canada  Corporation.  See Exhibit 2 Page E-1. The above exhibits were previously
filed  with the Registrant's Form 10-SB filed 2 November 2000. This Bill of Sale
provided  as  follows:

  (i)  Greatway transferred all of its assets and intellectual properties to the
Company  at Greatway's net book value.  These assets and equipment are listed on
Schedule  A of the Bill of Sale filed as Exhibit 2, Page E-1 of the Registrant's
Form  10-SB  previously  filed.  The equipment was transferred for the amount of
$20,200  and  are  commodity  items. The intellectual property, being Greatway's
research  and  development  expenditures,  were  transferred  for  the amount of
$850,000.

  (ii)  The Company completed this sale with the exchange of 2,000,000 shares of
Crown International Inc. (Florida) to Greatway.  No monies were exchanged in the
transaction.

  (iii)  Greatway  remains  the  registered owner of the 2,000,000 shares of the
Company.  Macwin  Investments  Inc.,  an Ontario, Canada Private Corporation and
125739  Canada  Inc.,  a Canadian Private Corporation, own 1,640,000 and 360,000
respectively  of  the  total  issued  and  outstanding  shares  of  Greatway.

  (iv)  The  Agreement  was completed November 5th, 1999 and 2,000,000 shares of
Crown  International  Inc.  (Florida)  were subsequently issued to Greatway. All
shares  as  issued have restrictive legends under Rule 144 of the Securities Act
of  1933  as  amended.  The  Company presently operates the business hereinafter
described.

  (v)  The business purpose  for  the  purchase  of  the assets from Greatway in
exchange  for  the  transfer  to Greatway of two million shares of the Company's
stock  was two-fold. First, it provided the stockholders of the Company with the
opportunity  to  change from ownership of an inactive Company to ownership in an
active  Company  with the prospects of stock appreciation. Second, the agreement
provided  Greatway  with  the  opportunity  to  acquire a majority interest in a
United  States  corporation, with the ultimate goal of achieving a public market
for  its  stock.


                                        2
<PAGE>
     The  agreement  was  at  arm's-length because the Officers and the Board of
Directors  of  both corporations were independent of each other. Further, at the
time of the agreement none of the stockholders of the two corporations owned any
stock  of  the  other corporation. There were no agreements or understandings in
place  that  would  negate  the  transaction  as  being  arm's-length.

  (vi)  Greatway  was  incorporated  for and its sole purpose was to develop and
prove  the  technologies  that  permit  its  users  to  interact  from different
locations  at  the  same  time and work with and make changes on content or data
files.

     Greatway  is  a  predecessor  of  the Company, based upon the definition of
"Predecessor"  in  Regulation  (Section)  240.12b-2  (Rule  12b-2),  under  the
Securities  Exchange  Act  of 1934, as amended. Accordingly, the developments of
Greatway  during  the  three  years  prior  to  the  Bill Of Sale is as follows:

     (1)  Greatway Global Communications Corp. was formed as a Corporation under
the  laws  of  Ontario,  Canada  on  October  6,  1997.

     (2)  Greatway  is a corporation in good standing under the laws of Ontario,
Canada  as  of  the  date  of  this  filing.

     (3)  As  described  above,  Greatway,  on  November 5, 1999 sold all of its
assets to Crown International, Inc. under an Agreement of Bill of Sale. Refer to
Exhibit  2,  Page  E1  of  Form  10-SB previously filed for a description of the
assets  acquired.

2.  On  January  29, 2003 Crown International, Inc. incorporated in the State of
Florida  a  wholly  owned  subsidiary  named  Crown  Networks,  Inc.

3.  On  February  12th,  2003  Crown  Networks  Inc.  (Florida  Corporation),
incorporated  in the province of Ontario, Canada a wholly owned subsidiary named
Crown  Networks  Inc.

(b)  BUSINESS  OF  ISSUER
-------------------------

GENERAL

     Firstly,  the  Company's services for Corporate communications are intended
to  provide  the  Company's  potential  corporate customers with a full range of
means  by  which to communicate electronically and broadcast or deliver over the
internet  information,  data  or  messages  to  corporate  participants.

     Secondly,  The  Company's  business  through its subsidiary, Crown Networks
Inc.  (Ontario,  Canada)  is  to  provide  Internet  and  television services to
residential  multi-dwelling  unit buildings. Multi-Dwelling Unit (MDU) buildings
include  apartment  and  condominium  buildings,  retirement  and  nursing  home
complexes,  hotels, hospitals, universities, institutions like prisons and other
properties  having  multiple  units.


(1)  PRINCIPAL  PRODUCTS  OR  SERVICES  AND  THEIR  MARKETS:
------------------------------------------------------------

(a)  Principal  Products  or  Services
--------------------------------------

     Firstly,  the  Company along with Vault Studios, Toronto, Canada intends to
offer  the  following  corporate  communications  services  to  businesses  and
Corporations.  These  services  are  described  as  follows:


-  Corporate  Broadcasting  -  which  includes the delivery over the internet of
Corporate information and events. Basic services would include meetings, such as
annual general meetings of shareholders, corporate messages, product launches or
promotional  information, corporate profiles, all of which would be delivered or
broadcast  over  the  internet

-  Strictly  Electronic  Meetings  -  whether  text, audio, video or combination
thereof  would  be  delivered  over  the  internet.


                                        3
<PAGE>
- Enriched Website Features - which would include some features of the Company's
technology  such as the ability of website users in various different geographic
locations at the same or various different times to work together and share data
files  and  for  those various users to manage the content of a website, thereby
linking  over  the  internet  various corporate participants, such as investors,
suppliers,  branch  locations,  customers,  professionals, sub contractors, in a
network  for  working  together  and  sharing  information  over  the  internet.

Secondly,  the  Company's services for MDU internet and television services will
include  programming flexibility and variety, cost effectiveness, and high level
service.  Each  building  is  unique  with  distinct needs. Crown will provide a
customized  solution  that  makes  sense  for the particular situation, and will
choose the bundle of services that best meets the requirements of the residents.

For  multi  dwelling  unit buildings, Crown's goal is to enter into contracts to
provide  them  for  a  period  up  to  10 years with its services and where each
building  will  contain  between  300 and 800 units. In addition, Crown projects
revenue from systems supplied to other MDU facilities such as hotels, hospitals,
retirement  complexes  and  institutions, as well as from telephony and security
systems  and  other  information  and  communications  services.

A  network of independent contractors, having a history and familiarity with the
Company's  Management,  has  been assembled to enable the Company to install its
equipment  and  to  deploy  its  services  and  business  plan.

Simply, the Company plans to provide to MDU buildings and its occupants the most
cost  effective  and  desirable  television  and  internet  services.

The  Company  shall obtain television content or programming from Canadian Radio
Telecommunication  Commission  (CRTC)approved  channels  and networks, etc. (The
CRTC  is the Canadian Broadcasting Regulator) This content shall be delivered to
each  building  by  way  of  public carriers in the satellite or cable business.

The  Company  shall  install  its  equipment  into each MDU building so that the
content  is  received  into  the  building  for transmission using the company's
equipment  to  the  individual  units  within  the  building.

With  respect to internet services, the Company shall engage an internet service
provider  to  link  the  MDU building to the internet network and then using the
company's  equipment,  this internet service shall be provided to the building's
individual  units.

Most MDU buildings contain the wiring connections from a central location to the
individual  units within a building. The Company's equipment enables the content
carried  by  public carriers to the building to be transmitted to the individual
units.


b)  Markets
-----------

Market  Segmentation
--------------------

The Company intends to market its Corporate communications services to small and
mid-sized  corporations  which  have  a  desire  to  deliver  over  the internet
Corporate  information,  training  sessions,  product  launches  and  so  forth.
Management  of  the  Company feels that its association with a production studio
and  the  Company's history in technology will produce enriched internet content
featuring  motion  and  video  as  opposed  to  static  and  text  content.

The  Company  will  be  targeting potential Corporate customers who will benefit
from  motion  and  video  on  the  internet.

Within  the  MDU marketplace, Crown's goal is to enter into contracts to provide
them  for a period up to 10 years with its services and where each building will
contain  between  300  and  800  units. In addition, Crown projects revenue from
systems  supplied  to other MDU facilities such as hotels, hospitals, retirement
complexes  and  institutions, as well as from telephony and security systems and
other  information  and  communications  services.


                                        4
<PAGE>
In  addition  to  the normal risks associated with a new business venture, there
can  be  no  assurance  that the Company's venture will be a commercial success.

A  network of independent contractors, having a history and familiarity with the
Company's  Management,  has  been assembled to enable the Company to install its
equipment  and  to  deploy  its  services  and  business  plan.

Business  Applications  of  Services
------------------------------------

     Firstly, Corporate communication Services - for delivery over the internet:

1)  Basic  Meetings  (i.e.  shareholders)
                                    -    audio
                                    -    video
                                    -    recorded or live
                Corporate messages  -    press releases
                                    -    President's
                                    -    Executive interviews
                Products            -    launches
                                    -    displays
                Corporate Information or Promotional video

2)  Electronic Meetings - can be conducted on the internet utilizing solely text

3)  Enriched  Corporate  Website
          -    Collaboration  and Interactivity where participants can share and
               work  together  on data files from different geographic locations
               over  the  internet
          -    Incorporating  the  foregoing  -  meetings,  messages,  product
               displays  etc.
          -    Content  management  -  without  webmaster  intervention
          -    Content  creation, change and approvals can be assigned across an
               organization
          -    Networking  corporate participants (clients, suppliers, projects,
               etc.)
          -    Ease  of  set-up  and  use
          -    Centralize  the  Management  of  projects  in multiple geographic
               locations.


Secondly,  the  Company  plans to provide to MDU buildings and its occupants the
most  cost  effective  and  desirable  television  and  internet  services.

The  Company  shall  obtain television content or programming from CRTC approved
channels  and networks, etc. This content shall be delivered to each building by
way  of  public  carriers  in  the  satellite  or  cable  business.

The  Company  shall  install  its  equipment  into each MDU building so that the
content  is  received  into  the  building  for transmission using the company's
equipment  to  the  individual  units  within  the  building.

With  respect to internet services, the Company shall engage an internet service
provider  to  link  the  MDU building to the internet network and then using the
company's  equipment,  this internet service shall be provided to the building's
individual  units.

Most MDU buildings contain the wiring connections from a central location to the
individual  units within a building. The Company's equipment enables the content
carried  by  public carriers to the building to be transmitted to the individual
units.

(c)  Other
----------

Development History including Industry Participants
---------------------------------------------------

During  the  development  of  the  Company's  technologies  (now  disassembled),
familiarity  with  internet  participants,  technologies  and  requirements were
acquired  by  the  Company's  management.  In  the  area  of  content  and  data
management  of  web  sites  on  the  internet,  the  Company  developed  a close
relationship  with  X2idea  Corp.,  a  corporation  based  in  Toronto,


                                        5
<PAGE>
Canada  that  provides  enriched  web  services.  In  the area of production and
internet  video  the  Company works closely with Vault Studios, Toronto, Canada.

Since  the  Company's technologies involved networking and content delivery, the
Company's  management  developed  a familiarity with the television and internet
services.

(2)  DISTRIBUTION  METHOD  OF  SERVICES
---------------------------------------

For  the Company's Corporate communication services: By offering a full range of
internet communications services, Management of the Company intends to develop a
customer  base  by offering basic and reasonably priced services. From this base
the  Company  anticipates  future  sales  of  its  more  elaborate  services.

The  Company's  television  and  internet  services  shall  first  be offered to
buildings  with which management of the Company has historical or close business
relations,  and  from  this  base  the  Company  intends  to  expand.

(3)  STATUS  OF  ANY  PUBLICLY  ANNOUNCED  NEW  PRODUCT  OR  SERVICE:
---------------------------------------------------------------------

Crown  Networks  Inc.  (Ontario,  Canada)  has  an  active  website  at
www.crownnetworks.com
---------------------


(4)  COMPETITIVE BUSINESS CONDITIONS AND THE SMALL BUSINESS ISSUER'S COMPETITIVE
     ---------------------------------------------------------------------------
POSITION  IN  THE  INDUSTRY  AND  METHODS  OF  COMPETITION:
-----------------------------------------------------------

a)  General
-----------

The  Company's  Corporate  communication services: During the development of the
Company's  technologies,  Management  of  the  Company acquired an awareness and
understanding  of  the  various  components  required  to  provide its services.
Accordingly,  Management  of the Company is of the opinion that it can offer its
services  less  expensively  and  quicker  because  of  its understanding of the
process  and its relationships with the studios and technical people required to
provide  its  services.

In  the  United  States  there are a number of companies who are competing for a
share  of  the  MDU  subscriber  base including satellite companies, DIRECTV and
DISHNETWORK  system  operators,  cable companies and off-air broadcasters. Other
companies  with substantially greater assets and operating histories could enter
this  market.  However entrants into the MDU marketplace must be able to respond
more  quickly  to  new  or  emerging  technologies  and  changes  in  customer
requirements  and  devote  greater  resources to develop, promote and sell their
products  or  services.

In  Canada,  in  addition  to  a  number  of  small  companies, large enterprise
competitors  would include Shaw Cable, StarChoice Communications, Bell ExpressVu
and  Rogers  Cable.

Crown's  Management  Team  has considerable experience and history with building
owners  and property management companies. From these relationships, the Company
anticipates  comfort  and  confidence  with  their  services. In contrast to the
Company's  large  competitors,  Crown  intends  to offer personal and individual
service,  lower  or  competitive  pricing,  and  flexibility.

b)  Barriers  to  Entry
-----------------------

In the opinion of Management of the Company the barriers to entry are;

1)   For its Corporate communication Services:
     -    In  a  troubled  economy,  the  reluctance  to  break  from historical
          practices and use the internet to deliver or broadcast and communicate
          meetings,  messages,  and  product  launches.
     -    For  publicly traded companies, assurance of regulatory compliance for
          shareholder  meetings  and  disclosures
     -    Time  and expense to install and train people for interactive internet
          working  together


                                        6
<PAGE>
2)   For  its  television  and  internet  services:
     -    The  Ontario,  Canada  marketplace  is  well  serviced  by established
          operations  as  herein  before  noted  under  competition.
     -    Provision of the services is capital intensive requiring approximately
          $75,000.00 US per building as well as specialized personnel to provide
          ongoing  service  to  the  subscribers.

c)  Advertising  and  Promotion
-------------------------------

1)   Regarding  the  Company's  corporate  communication  services,  the Company
     intends  to  approach  organizations  with  a  customer  base interested in
     broadcasting information and events. For example, transfer agents, investor
     and  public  relations  corporations,  shareholder  services organizations,
     corporate  event  and  incentive  organization.

2)   Crown  Networks  Inc. (Ontario, Canada) initially only uses the website and
     personal  contacts.

(5)  SOURCES  AND  AVAILABILITY  OF  RAW  MATERIALS  AND  THE NAMES OF PRINCIPAL
--------------------------------------------------------------------------------
SUPPLIERS:
----------

     The  components  required  to  provide  all  of  the Company's services are
readily  available  in  the  marketplace.

(6)  DEPENDENCE  ON  ONE  OR  A  FEW  MAJOR  CUSTOMERS:
     --------------------------------------------------

     The Company has no customers.

(7)  PATENTS,  TRADEMARKS, LICENSES, FRANCHISES, CONCESSIONS, ROYALTY AGREEMENTS
     ---------------------------------------------------------------------------
OR  LABOR  CONTRACTS,  INCLUDING  DURATION:
-------------------------------------------

     The  Company does not hold any patents, trademarks or licenses. The Company
acquired  all  of the intellectual property of Greatway, which property included
its  network  architecture, source codes and software codes for its software and
designs  and  its  software  architecture.

(8)  NEED FOR ANY GOVERNMENT APPROVAL OF PRINCIPAL PRODUCTS OR SERVICES:
------------------------------------------------------------------------

     At  this  time  there  is  no  direct  required  government approval of the
services  offered.  Further,  there  are no direct governmental regulations that
impact  the  business operations. However, Crown Networks Inc. (Ontario, Canada)
does  deal  with  other  Corporations  products  and  other Corporations that do
require  governmental  regulation  and  permissions.

(9)  EFFECT  OF  EXISTING  OR PROBABLE GOVERNMENTAL REGULATIONS ON THE BUSINESS:
--------------------------------------------------------------------------------

     Not applicable - see (8) above.

(10)  ESTIMATE  OF  THE AMOUNT SPENT DURING EACH OF THE LAST TWO FISCAL YEARS ON
--------------------------------------------------------------------------------
RESEARCH  AND  DEVELOPMENT ACTIVITIES, AND IF APPLICABLE THE EXTENT TO WHICH THE
--------------------------------------------------------------------------------
COST  OF  SUCH  ACTIVITIES  ARE  BORNE  DIRECTLY  BY  CUSTOMERS:
----------------------------------------------------------------

     For  the  fiscal  year  ended  31  March 2003 the Company expended $0.00 on
research  and  development  and  for  the  fiscal  year ended 31 March 2002, the
Company  expended  $35,451.00  on  Research  and  Development.

     Both  of  these  amounts  are  comprised of monies expended by the Company.
Macwin  Investments  advanced  the  monies  for  these  expenditures.

(11) COSTS AND EFFECTS OF COMPLIANCE WITH ENVIRONMENTAL LAWS (FEDERAL, STATE AND
--------------------------------------------------------------------------------
LOCAL):
-------

     There  are  no costs and effects of compliance with any environmental laws.

(12) NUMBER OF TOTAL EMPLOYEES AND NUMBER OF FULL TIME EMPLOYEES:
-----------------------------------------------------------------

     The Company has no employees at the present time.


                                        7
<PAGE>
ITEM  2.  DESCRIPTION  OF  PROPERTY
-----------------------------------

     The  Company  leases premises at 80 Richmond St. West, Suite 1604, Toronto,
Ontario  Canada  on  a  month to month basis. The Company owns no real property.

ITEM  3.  LEGAL  PROCEEDINGS
----------------------------

     Not  applicable.

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

     Special  Meeting  of  Shareholders  held  23  August, 2002 and filed to the
Registrant's  Form  DEF  14A  on  01  August,  2002.

PART  II

ITEM  5.  MARKET  PRICE  OF  AND  DIVIDENDS  ON  THE  REGISTRANT'S
------------------------------------------------------------------
          COMMON  EQUITY  AND  RELATED  STOCKHOLDER MATTERS
          -------------------------------------------------

(a)  Market  Information:

There  is  no public trading market for the common stock of Crown International,
Inc.

The  Company  has  no  other  class  of stock. In regard to this class of common
equity:

     1) There is no stock subject to outstanding warrants or options of any type
whatsoever.

     2)  The  registrant has not agreed to register under the Securities Act any
of  the  stock  owned  by the stockholders. At this time 403,600 shares are free
trading  (being  held by non-affiliates for a continuous period in excess of two
years)  and  could  be  sold  under  Rule  144(k)  if  that rule were available.
2,500,300  shares  are  held  by  affiliates for over one year and could be sold
under  Rule  144(e)(1)

     3)  There  is  no  stock  that  is  proposed  to be publicly offered by the
registrant,  or  otherwise.

(b)  Holders:
The  only  class  of  equity  in  the  Company  is  common  stock  .  There  are
approximately  37  stockholders  of  record.

(c)  Dividends:
The Company has never paid dividends and has no intention of paying dividends in
the  future.

RECENT  SALES  OF  UNREGISTERED  SECURITIES
-------------------------------------------

On  November  5,  1999 the company entered into an Agreement (Bill of Sale) with
Greatway  Global Communications Corp., (Greatway") a Corporation organized under
the  laws  of  the  Province of Ontario, Canada, whereby the Company transferred
2,000,000  shares  of its common stock to Greatway in exchange for a transfer of
certain  intellectual  property and assets to the Company. See Exhibit 2 at Page
E-1  Bill  of  Sale  previously  filed.  The  specific assets transferred to the
Company  are  described  on  Schedule  A  of  the  Bill  of  Sale.

This  was  not public offering in that no shares were offered to the public, the
transaction was a sale to one person, and the manner of the transaction was that
of  a  private  sale. The Company is claiming an exemption from registration for
this  sale under the authority of Section 4(2) of the Securities Act of 1933, as
amended,  in  that  it  was  a transaction by an issuer not involving any public
offering.

On  October  28, 2002, the Company issued a private placement memorandum for the
offering of a maximum of four units consisting of 100,000 common shares per unit
at  a  price  of  Cdn  $.25  per  share  (US$ .1575 per share) under Rule 506 of
Regulation D of the Securities Act of 1933. As of March 31, 2003, 200,000 common
shares  were  sold  for  cash  totaling $30,240 net of offering costs of $1,260.


                                        8
<PAGE>
ITEM  6.  PLAN  OF  OPERATION
-----------------------------

The  Company's  technology  (as  described  in previous filings ) located in the
boxes has been disassembled and will be held in abeyance until market conditions
improve  or  a compelling and profitable customer or customers are ready to buy.
The  Company  does  not  plan  to  do any Research and development at this time.

For the Company's Corporate communication services, the Company has developed an
unwritten  relationship  with  Vault  Studios  to jointly market and produce the
Company's  corporate  communication  services.

Crown  Networks  Inc.'s  (Ontario,  Canada)  business is to provide Internet and
television  services  to  residential  multi-dwelling  unit  facilities.
Multi-Dwelling Unit (MDU) buildings include apartment and condominium buildings,
retirement  and  nursing  home  complexes,  hotels,  hospitals,  universities,
institutions like prisons and other properties having multiple units.

Crown's  business  objective  is  to  secure  an  installed, contractual base of
building  and  residential customers for terms up to 10 years, a base from which
to sell services and to secure for Crown an ongoing revenue stream.

Management's  objective is that each building be a profit centre so that Crown's
earnings  will  be  immediate  and  ongoing  as  buildings  are added. For multi
dwelling unit buildings, Crown's goal is to enter into contracts to provide them
for  a  period  up  to  10  years with its services and where each building will
contain  between  300  and  800  units. In addition, Crown projects revenue from
systems  supplied  to other MDU facilities such as hotels, hospitals, retirement
complexes  and  institutions, as well as from telephony and security systems and
other  information  and  communications  services.

With  the  building owners or management companies, the Company shall enter into
an  Agreement for a period between 5 and 10 years to provide to the building and
its  occupants  television  and  internet  services  on  an exclusive basis. The
Company  must  then solicit work orders from each individual occupant within the
building. In some cases a bulk contract will be executed where the Company shall
provide  its  services  to  an  entire  building  without  the  Company having a
relationship  with  the  occupants  of  the  individual  units. Each of the unit
occupants  will  execute  a work order setting forth the terms and conditions of
the  Company  providing  its  television  and  internet  services.

Presently  many  MDU buildings are receiving television and internet services on
an  exclusive  or  general  access  basis.  Capital  cost  for  each building is
approximately  $75,000.00  US.  Building  owners  and  Managers demand excellent
service  to avoid unit occupant complaints. Providers of television and internet
services  must  have  industry  knowledge  and  relationships  with carriers and
content  providers  but  also technical knowledge of the equipment and buildings
systems.

Management  of  the  Company's  objective  is  that  each individual building be
profitable.  Operating  profit  is the difference between revenue from each unit
for  television and internet services and the cost of programming for television
and  the  cost  of  bandwidth for the internet. An allocation for a call center,
service  calls,  and  financing costs of the equipment must be deducted from the
operating  profit.

The capital cost to install the equipment required to provide each building with
television  and  internet  service  is  approximately $75,000.00 US. The Company
intends to repay this amount over a 3 year period with blended monthly payments.
The  Company plans to develop relationships with various lenders to provide this
capital  financing  on  an  individual  building  basis.

The  Company's  plan is that its overall financial results will be a multiple of
the  profit  for  each  building.

In  the  opinion of Crown's Management, there are sufficient direct and personal
relationships  with property owners and property management companies to achieve
the  Company's  projected  results.


                                        9
<PAGE>
Presently  the  Company is organized to conduct, launch, and effect its Business
Plan.  The  usual  such  as  office,  phone,  contracts,  relationships, website
arrangements  and  email  addresses  are in place. When the Company completes an
arrangement  and  terms with a Capital Lease Partner, the Business Plan shall be
launched.  Initial  discussions  with  potential  building  owners  and property
managers  are  currently  underway.

Initially  the  Company  plans  to  launch  in the Toronto, Canada area and then
pursue  opportunities  in  the  remainder  of  Canada  and in the United States.

Management  has  experience  and  relationships  in  the television and internet
services  sector  in  the  United  States.

To date the Company has been funded from shareholders advances and advances from
Macwin  Investments  Inc.,  an Ontario, Canada Corporation owned by Lorna Irwin,
spouse of Company Director, Alan Irwin. The Company anticipates meeting its cash
requirement  for  the next 3 month period from Shareholder advances, and for the
following  9  month  period  with  a  private  placement  for  approximately
$1,000,000.00  pursuant  to  exemption  provided  by Rule 506 of Regulation D as
published  by  the  Securities  and  Exchange  Commission.

The  Company  does  not anticipate having any employees in the next fiscal year.
However,  the  Company's  access  to  consultants  and industry participants are
sufficient  to  undertake  the  Company's  Plan of Operation for the next fiscal
year.

ITEM  7.  FINANCIAL  STATEMENTS
-------------------------------

The financial statements are filed herewith commencing on page 15.

ITEM  8.  CHANGES  IN  AND  DISAGREEMENTS  WITH  ACCOUNTANTS
------------------------------------------------------------

     Not applicable.

PART  III
---------

ITEM  9.  DIRECTORS,  EXECUTIVE  OFFICERS,  PROMOTORS  AND  CONTROL  PERSONS;
-----------------------------------------------------------------------------
COMPLIANCE WITH SECTION 16A OF THE EXCHANGE ACT.
------------------------------------------------

(a)   DIRECTORS  AND  EXECUTIVE  OFFICERS:
------------------------------------------

     The following table lists, as of 31 March 2003, the directors and executive
officers  of  the  Company:


Name, Municipality of Residence    Age     Length of Service
-------------------------------    ---     -------------------------
Alex Kennedy                       68      Appointed as Director and
Toronto, Ontario                           Secretary, Since April 22, 2000
                                           Appointed Treasurer , since
                                           13 May, 2002

Alan Irwin                         59      Appointed Director
Toronto, Ontario                           Since April 22, 2000
                                           Appointed President & Chief Executive
                                           Officer, since 13 May, 2002

Lorna Irwin                        50      Appointed Chief Financial Officer
Toronto , Ontario                          since 13 May, 2002

Alex  Kennedy  is the Secretary, Treasurer and a Director of the Company. Within
the  past 5 years he has been involved with RDG Minerals Inc., Mining), and TTLN
-  Total  Entertainment  Inc.  (Internet  Entertainment).  He  brings  extensive
background  in  the  retail-merchandising  field, where he was CEO of 2 national
retail  companies  in  Canada.  He  is  a Director for Ashurst Technologies Ltd.
(listed on the Toronto Stock Exchange) and NETFORFUN.com Inc. (a Canadian public
Company seeking a listing on CDNX). Mr. Kennedy is available upon request to the
Company  to  advise on General Management issues such as Marketing and Relations
with  industry  participants.


                                       10
<PAGE>
Alan  Irwin,  B.A., LL.B. is President/Chief Executive Officer and a Director of
the  Company.  In  1995  and  1996  he  was the Director and President of Typhon
Industries Ltd., a public company in recreation and entertainment. Since 1997 he
has  been  the  developer of Greatway Global Communications Corp. in product and
business.  He brings with him expertise in new business development, mergers and
acquisitions,  divestitures and various financing arrangements for both publicly
held  and  private  companies.  Mr.  Irwin  provides  Management  services  as a
representative  of  Macwin  Investments,  Inc.

Lorna  Irwin  -  is the Chief Financial Officer with the Company and is also the
controlling  shareholder  of Macwin Investments Inc., an Ontario, Canada Private
Corporation,  and  Macwin  Investments  Inc.  is  the controlling shareholder of
Greatway,  and  Greatway  is the controlling shareholder of The Company. For the
past  13  years,  Lorna  Irwin  has  operated Macwin Investments Inc. and Macwin
Consulting Inc. (also an Ontario, Canada Private Corporation) and both Companies
offer financing and consulting services, para legal services and bookkeeping and
portfolio  management  services  to  various  private  and  public  companies.

Under Section 3 of ARTICLE III of the Bylaws, the directors serve until the next
annual  meeting  of the shareholders, at which time directors are elected by the
shareholders.  A  director  is  to  hold  office  until  his or her successor is
elected.  If  a  director  vacates  his  or  her position during that director's
tenure,  his  or  her  replacement  is  filled  by  a  majority of the remaining
directors,  of  the  shareholders  if  no  directors  remain.

(b)  IDENTIFY  SIGNIFICANT  EMPLOYEES
-------------------------------------

     There  are  no employees with the Company. The following provide Consulting
services  to  the  Company:

     Name, Municipality of Residence         Age       Length of Service
     --------------------------------------------------------------------------
     Lisa Bailey                             45        Senior Financial Advisor
     Ottawa, Ontario                                   since November 1999
     Canada

     Lisa Bailey - is a self-employed small business advisor. Since 1984 she has
offered  financial  services  and  specializes  in  the  area  of  planning,
administration  and  management  of businesses. Currently working in the Ottawa,
Canada  area  Ms.  Bailey has acted as the Senior Financial advisor to Greatway,
and  now,  the  Company and provides assistance in matters of financial planning
and  projections.

     Lisa  Bailey  is available upon request to the Company to advise on general
financial  matters  and to assist in the preparation of financial statements and
projections.

     The  Company has entered into a Management Contract with Macwin Investments
Inc.  for  Management,  Marketing  and Professional services upon such terms and
conditions as described and set forth in Exhibit No. 10.4 herein.

(c)     COMPLIANCE  WITH  SECTION  16(a)  of  THE EXCHANGE ACT:  Not applicable.
---------------------------------------------------------------

ITEM  10.  EXECUTIVE  COMPENSATION
----------------------------------

     None  of  the  Officers or directors receive any compensation at this time,
except  Alex  Kennedy  ,director  and officer, received the sum of $750.00USD No
employee,  officer,  or  director  of  the  Company  has  any  form of long-term
compensation,  including  (but  not  limited thereto) qualified or non-qualified
stock  options,  warrants, incentive plans, SAR's, stock bonus plans, retirement
plans,  or  otherwise.

     Amount of time devoted to the Company's business by Officers/Directors:
     Alan Irwin, President, Chief Executive Officer/Director      -  100%
     Alex Kennedy, Director/Secretary, Treasurer                  -   30%
     Lorna Irwin, Chief Financial Officer                         -  100%

     Amount  of  time devoted to the Company's business by Significant others as
stated  in  ITEM  9  (b)  above:

      Lisa  Bailey,  Senior  Financial  advisor     -  30%


                                       11
<PAGE>
ITEM  11.  SECURITY  OWNERSHIP  OF  CERTAIN  BENEFICIAL  OWNERS  AND  MANAGEMENT
--------------------------------------------------------------------------------

(a)  SECURITY  OWNERSHIP  OF  CERTAIN  BENEFICIAL  OWNERS
     ----------------------------------------------------

     The  following  persons  (including any group as defined in Regulation S-B,
Section  228.403)  are known to the Company, as the issuer, to be the beneficial
owner  of  more  than  five  percent  of  any  class of the said issuer's voting
securities:

                 Name and                  Amount and
                 Address of                Nature of
Title of         Beneficial                Beneficial      Percentage
Class            Owner                     Owner           of Class
---------------------------------------------------------------------
Common           Brigand Capital Corp.       500,300       16.12
                 120 Adelaide St. W.,
                 Toronto, Ontario
                 M5H 1T1

Common           Greatway Global           2,000,000       64.44
                 Communications Corp.
                 80 Richmond St. W.,
                 Toronto, Ontario
                 M5H 2A4
TOTAL                                      2,500,300       80.55

(1) Brigand Capital Corp. is an Ontario, Canada corporation. V.T.Franszke is the
sole  stockholder  of  that  Company.

(2)  Greatway  Global  Communications  Corp.  is an Ontario, Canada Corporation.

     (a)  Macwin  Investments  Inc., an Ontario, Canada Corporation holds 82% of
the  common  shares  of  Greatway  Global  Communications Corp.  Lorna Irwin has
controlling  ownership  and  is the sole stockholder of Macwin Investments, Inc.

     (b)  125739  Canada,  Inc., a Canadian Private Corporation holds 18% of the
common  shares  of  Greatway  Global  Communications  Corp.  Kenneth  Stewart,
personally,  and  147854  Canada  Inc., a Canadian Private Corporation, in which
Kenneth Stewart is the controlling stockholder, are the controlling stockholders
of  125739  Canada  Inc.

(b)  SECURITY  OWNERSHIP  OF  MANAGEMENT
     -----------------------------------

     The  following  information  lists,  as  to  each  class, equity securities
beneficially  owned  by  all  directors.

                 Name and                  Amount and
                 Address of                Nature of
Title of         Beneficial                Beneficial      Percentage
Class            Owner                     Owner           of Class
---------------------------------------------------------------------
Common           Alan Irwin                1,640,000       52.84
                 R.R. #2,
                 Godfrey, Ontario
                 KOH 1TO

     (1)  Alan  Irwin  is  the  spouse  of Lorna Irwin.  Lorna Irwin is the sole
shareholder  of Macwin Investments, Inc., an Ontario, Canada Corporation. Macwin
Investments,  Inc. is the majority stockholder of Greatway Global Communications
Corp.

NOTE  TO  (a)  and  (b)  ABOVE: As to the beneficial ownership of the securities
listed above in (a) and (b), no such owner has the right to acquire within sixty
(60)  days  or  otherwise,  the  right to acquire shares from options, warrants,
right,  conversion  privileges,  or  similar  obligations.

(c)  CHANGES  IN  CONTROL
     --------------------

     There  are  no  arrangements  that may result in a change in control of the
Company.


                                       12
<PAGE>
ITEM  12.  CERTAIN  RELATIONSHIPS  AND  RELATED  TRANSACTIONS
-------------------------------------------------------------

Since  April  1, 2000 the Company has been provided with monies and services for
the  Company's  activities by Macwin Investments Inc. Macwin Investments Inc., a
Ontario,  Canada  private  Corporation  owned by Lorna Irwin, the spouse of Alan
Irwin,  a  Director  of  the  Company.  Macwin  Investments  is  the controlling
shareholder of Greatway Global Communications Corp., the holder of 64.44% of the
common  stock  of  the  Company.

Macwin  Investments  Inc.  has  provided  management services to the Company and
monies  for  the  purchase of equipment, general and administrative expenses and
research  and  development  expenses.

During  November 2002 the Company was charged US$75,000 for Corporate Governance
Services by the said Macwin Investments Inc., which charge is in addition to the
services rendered pursuant to the Management Contract attached hereto as Exhibit
10.4  and  is  in  addition  to  the  advances  herein  referred  to.

The outstanding advances for monies and services are in the amount of $1,006,845
and  are  non-interest bearing and have no fixed term for repayment as set forth
in  the Company's Financial Statements for the fiscal year ending 31 March, 2003
filed  herewith.


ITEM  13.  EXHIBITS  AND  REPORTS  ON  FORM  8-K
------------------------------------------------

(a)  Exhibit No.        Description
     -----------        -----------

        2               Bill of Sale filed to the Registrant's Form 10-SB on 2
                        November, 2000, Page E-1
        3.1             Articles of Incorporation of Crown International, Inc.
                        Filed to the Registrant's Form 10-SB on 2 November,
                        2000, Page E-5
        3.2             Bylaws of Crown International, Inc.  Filed to the
                        Registrant's Form 10-SB on 2 November 2000, Page E-10
        10              Letter of Intent filed to the Registrant's 10-SB/A on 1
                        May, 2001, Page E-30
        10.2            Management Contract filed to the registrant's Form
                        10KSB on July 12,2001, Page 20
        10.3            Management Contract filed to the Registrant's Form
                        10KSB on July 12, 2002
*       10.4            Management Contract
*       99.1 &
        99.2            Certification of Principal Executive Officer

---------------------
*Filed  herewith

(b)     Form  8-K - No reports on Form 8-K were filed during the last quarter of
the  period  covered  by  this  report.


                                       13
<PAGE>
SIGNATURES
----------

     In  accordance with Section 13 or 15(d) of the Exchange Act, the Registrant
caused  this  Form  10-KSB  to be signed on its behalf by the undersigned in the
capacities  and  on  the  dates  indicated,  thereunto  duly  authorized.

                                         CROWN INTERNATIONAL, INC./FL
                                         (Registrant)


Dated:     July,11 2003                  By : /s/ ALAN IRWIN
                                         ----------------------------
                                         ALAN IRWIN, Director, President and
                                         Chief Executive Officer

Dated:     July,11 2003                  By : /s/ ALEX KENNEDY
                                         ----------------------------
                                         ALEX KENNEDY, Director,
                                         Secretary & Treasurer

Dated:     July,11 2003                  By : /s/ LORNA IRWIN
                                         ----------------------------
                                         LORNA IRWIN,
                                         Chief Financial Officer


                                       14
<PAGE>
                  CERTIFICATION BY PRINCIPAL EXECUTIVE OFFICERS

     I,  Alan  Irwin,  Chief  Executive Officer, I, Lorna Irwin, Chief Financial
Officer  of  Crown International Inc., a Florida corporation (the "Registrant"),
certify  that:

     1.     We  have  reviewed  this annual report on Form 10-KSB for the fiscal
year  ended  March  31,  2003,  of  the  Registrant  (the  "Report").

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

     3.     Based  on  our  knowledge,  the  financial  statements,  and  other
financial  information  included  in  the Report, fairly present in all material
respects  the  financial  condition, results of operations and cash flows of the
Registrant  as  of,  and  for,  the  periods  presented  in  the  Report.

     We are responsible for establishing and maintaining disclosure controls and
procedures  (as  defined  in  Exchange  Act  Rules  13a-14  and  15d-14) for the
Registrant  and  we  have:

a)     designed  such disclosure controls and procedures to ensure that material
information relating to the Registrant, including its consolidated subsidiaries,
is  made  known  to  us by others within those entities, particularly during the
period  in  which  the  Report  is  being  prepared.
b)     evaluated  the  effectiveness of the Registrant's disclosure controls and
procedures  as  of  a date within 90 days prior to the filing date of the Report
(the  "Evaluation  Date");  and
c)     presented  in  the  Report our conclusions about the effectiveness of the
disclosure  controls and procedures based on our evaluation as of the Evaluation
Date;

     We have disclosed, based on our most recent evaluation, to the Registrant's
auditors  and  the  Audit  Committee  of  the  Registrant's  Board of Directors:
a)     all  significant  deficiencies  in  the  design  or operation of internal
controls  which  could  adversely  affect  the  Registrant's  ability to record,
process,  summarize  and  report  financial  data  and  have  identified for the
Registrant''  auditors  any  material  weaknesses  in  internal  controls;  and
b)     any  fraud,  whether  or  not material, that involves management or other
employees  who  have  a  significant  role in the Registrant's internal control.

     We  have  indicated  in  the  Report  whether or not there were significant
changes in internal controls or in other factors that could significantly affect
internal  controls  subsequent  to  the  date  of  our  most  recent evaluation,
including  any  corrective  actions  with regard to significant deficiencies and
material  weaknesses.


DATED:    July,11  2003

          By:  /s/  Alan Irwin            By:  /s/  Lorna Irwin
               Alan Irwin                      Lorna Irwin
               Chief Executive Officer         Chief Financial Officer


                                       15
<PAGE>




                     CROWN INTERNATIONAL, INC. & SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)

                        CONSOLIDATED FINANCIAL STATEMENTS

                                 MARCH 31, 2003




<PAGE>
               CROWN INTERNATIONAL, INC. & SUBSIDIARY
                    (A DEVELOPMENT STAGE COMPANY)


                              CONTENTS
                              --------


                                                          PAGE

Independent Auditors Report                                1

Financial Statements:

 Consolidated Balance Sheet                                2

 Consolidated Statements of Operations
 and Comprehensive Income                                  3

 Consolidated Statements of Changes in
 Stockholders Equity (Deficit)                             4

 Consolidated Statements of Cash Flows                   5 - 6

 Notes to Consolidated Financial
 Statements                                              7 - 13


<PAGE>
<TABLE>
<CAPTION>
                CROWN INTERNATIONAL, INC. & SUBSIDIARY
                     (A DEVELOPMENT STAGE COMPANY)
                      CONSOLIDATED BALANCE SHEET
                            MARCH 31, 2003



                                 ASSETS
                                 ------


CURRENT ASSETS
<S>                                                      <C>
  Cash                                                   $       685

COMPUTER AND OFFICE EQUIPMENT- net of
  accumulated depreciation of $18,222                         11,970
                                                         ------------

TOTAL ASSETS                                             $    12,655
                                                         ============



            LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)
            ---------------------------------------------

CURRENT LIABILITIES
  Accounts payable                                       $    32,743

DUE TO AFFILIATE                                           1,006,845

COMMITMENTS

STOCKHOLDERS EQUITY (DEFICIT)                             (1,026,933)
                                                         ------------

TOTAL LIABILITIES AND STOCKHOLDERS
  EQUITY (DEFICIT)                                       $    12,655
                                                         ============
</TABLE>



          Read accompanying Notes to Consolidated Financial Statements.
                                      -2-


<PAGE>
<TABLE>
<CAPTION>
                     CROWN INTERNATIONAL, INC. & SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
         CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
                      YEARS ENDED MARCH 31, 2003 AND 2002
                                      AND
        PERIOD FROM DECEMBER 6, 1996 (INCEPTION) THROUGH MARCH 31, 2003


                                                                    December 6,
                                                                       1996
                                      Year Ended      Year Ended    (Inception)
                                       March 31,       March 31,    to March 31,
                                         2003            2002           2003
                                     -------------  --------------  ------------
<S>                                  <C>            <C>             <C>
REVENUES                             $          -   $           -   $         -
                                     -------------  --------------  ------------

EXPENSES
 General and administrative               356,494         275,977       912,502
 Software research and development
  costs                                         -          35,451       981,321
 Depreciation                               6,040           6,038        18,222
                                     -------------  --------------  ------------
    Total Expenses                        362,534         317,466     1,912,045
                                     -------------  --------------  ------------

NET (LOSS)                               (362,534)       (317,466)   (1,912,045)

OTHER COMPREHENSIVE INCOME
 Foreign currency translation
  adjustments                             (41,377)         26,013       (16,768)
                                     -------------  --------------  ------------

COMPREHENSIVE INCOME (LOSS)          $   (403,911)  $    (291,453)  $(1,928,813)
                                     =============  ==============  ============

(LOSS) PER SHARE                     $       (.12)  $        (.11)
                                     =============  ==============

WEIGHTED AVERAGE NUMBER OF SHARES
 OUTSTANDING                            2,978,421       2,903,900
                                     =============  ==============
</TABLE>


          Read accompanying Notes to Consolidated Financial Statements.
                                      -3-


<PAGE>
<TABLE>
<CAPTION>
                                    CROWN INTERNATIONAL, INC. & SUBSIDIARY
                                         (A DEVELOPMENT STAGE COMPANY)
                     CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (DEFICIT)
                       PERIOD FROM DECEMBER 6, 1996 (INCEPTION) THROUGH MARCH 31, 2003

                                                                Deficit
                                                              Accumulated    Accumulated
                                  Common Stock     Additional  During the       Other
                                Number of   Par    Paid-In    Development    Comprehensive
                                 Shares    Value   Capital       Stage          Income          Total
                                ---------  ------  --------  -------------  ---------------  ------------
<S>                             <C>        <C>     <C>       <C>            <C>              <C>
April 4, 1997 - Common shares
 issued for cash                  903,900  $  904  $    536  $          -   $            -   $     1,440
Net loss through March 31,              -       -         -        (1,120)               -        (1,120)
 1999                           ---------  ------  --------  -------------  ---------------  ------------
Balance - March 31, 1999          903,900     904       536        (1,120)               -           320

November 5, 1999 - Common
 shares issued in acquisition
 of office and computer
 equipment and research and
 development costs              2,000,000   2,000   868,200             -                -       870,200
Net (loss)                              -       -         -      (851,833)               -      (851,833)
                                ---------  ------  --------  -------------  ---------------  ------------
Balance - March 31, 2000        2,903,900   2,904   868,736      (852,953)               -        18,687

Net (loss)                              -       -         -      (379,092)               -      (379,092)
Foreign currency translation
 adjustments                            -       -         -             -           (1,404)       (1,404)
                                ---------  ------  --------  -------------  ---------------  ------------
Balance - March 31, 2001        2,903,900   2,904   868,736    (1,232,045)          (1,404)     (361,809)

Net (loss)                              -       -         -      (317,466)               -      (317,466)
Foreign currency translation
 adjustments                            -       -         -             -           26,013        26,013
                                ---------  ------  --------  -------------  ---------------  ------------
Balance - March 31, 2002        2,903,900   2,904   868,736     1,549,511)          24,609      (653,262)

November 15, 2002 - Common
 shares issued for cash           200,000     200    30,040             -                -        30,240
Net (loss)                              -       -         -      (362,534)               -      (362,534)
Foreign currency translation
 adjustments                            -       -         -             -          (41,377)      (41,377)
                                ---------  ------  --------  -------------  ---------------  ------------
Balance - March 31, 2003        3,103,900  $3,104  $898,776  $ (1,912,045)  $      (16,768)  $(1,026,933)
                                =========  ======  ========  =============  ===============  ============

                           Read accompanying Notes to Consolidated Financial Statements.
</TABLE>


                                      -4-
<PAGE>
<TABLE>
<CAPTION>
                               CROWN INTERNATIONAL, INC. & SUBSIDIARY
                                    (A DEVELOPMENT STAGE COMPANY)
                                CONSOLIDATED STATEMENTS OF CASH FLOWS
                                YEARS ENDED MARCH 31, 2003 AND 2002
                                                AND
                  PERIOD FROM DECEMBER 6, 1996 (INCEPTION) THROUGH MARCH 31, 2003

                                                                                  December 6,
                                                                                     1996
                                                   Year Ended      Year Ended     (Inception)
                                                    March 31,       March 31,     to March 31,
                                                      2003            2002           2003
                                                  -------------  --------------  ------------
<S>                                               <C>            <C>             <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net (loss)                                      $   (362,534)  $    (317,466)  $(1,912,045)
  Adjustments to reconcile net loss to net cash
   used in operating activities:
    Depreciation                                         6,040           6,038        18,222
    Foreign currency translation adjustments           (41,377)         26,013       (16,768)
    Common stock issued for purchased research
     and development costs                                   -               -       850,000
    Increase (decrease) in accounts payable             (1,865)         13,360        32,743
                                                  -------------  --------------  ------------
NET CASH USED IN OPERATING ACTIVITIES                 (399,736)       (272,055)   (1,027,848)
                                                  -------------  --------------  ------------

CASH FLOWS FROM INVESTING ACTIVITIES
 Purchase of computer equipment                              -               -        (9,992)
                                                  -------------  --------------  ------------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Increase in amount due to affiliate                  369,937         271,306     1,006,845
  Net proceeds from issuance of common stock            30,240               -        31,680
                                                  -------------  --------------  ------------
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES        400,177         271,306     1,038,525
                                                  -------------  --------------  ------------

NET INCREASE (DECREASE) IN CASH                            441            (749)          685

CASH - BEGINNING                                           244             993             -
                                                  -------------  --------------  ------------
CASH - ENDING                                     $        685   $         244   $       685
                                                  =============  ==============  ============

                Read accompanying Notes to Consolidated Financial Statements.
</TABLE>


                                      -5-
<PAGE>
<TABLE>
<CAPTION>
                               CROWN INTERNATIONAL, INC. & SUBSIDIARY
                                    (A DEVELOPMENT STAGE COMPANY)
                          CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
                                YEARS ENDED MARCH 31, 2003 AND 2002
                                                AND
                  PERIOD FROM DECEMBER 6, 1996 (INCEPTION) THROUGH MARCH 31, 2003


                                                                               December 6,
                                                                                  1996
                                                  Year Ended     Year Ended    (Inception)
                                                   March 31,      March 31,    to March 31,
                                                     2003           2002           2003
                                                 ------------  --------------  ------------
<S>                                              <C>           <C>             <C>

SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING
 AND FINANCING ACTIVITIES:

  Common stock issued in acquisition of office
  and computer equipment and purchased research
  and development costs.                         $          -  $            -  $    870,200
                                                 ============  ==============  ============

               Read accompanying Notes to Consolidated Financial Statements.
</TABLE>


                                      -6-
<PAGE>
                     CROWN INTERNATIONAL, INC. & SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2003


NOTE 1.   ORGANIZATION
          ------------

          Crown  International,  Inc. was incorporated on December 6, 1996 under
          the  laws  of  the State of Florida and has a fiscal year ending March
          31.  During  the  year ended March 31, 2002, the Company suspended its
          research  and  development  activities  on  further  developing  its
          acquisition of intellectual property (communication software) referred
          to in Note 3. At the current stage of development, the Company can and
          intends to offer its customers a full range of services to communicate
          electronically  and  broadcast  or  deliver  over  the  Internet,
          information,  data  or  messages.  The  Companys  headquarters  is  in
          Toronto,  Canada.

NOTE 2.   SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES
          ----------------------------------------------

          PRINCIPLES  OF  CONSOLIDATION
          -----------------------------

          These  consolidated  financial  statements include the accounts of the
          Company  and  its  wholly-owned  subsidiary, Crown Networks, Inc. This
          subsidiary  had  no activity during the year ended March 31, 2003. All
          significant  intercompany  balances  and  transactions  have  been
          eliminated  in  consolidation.

          COMPUTER  AND  OFFICE  EQUIPMENT
          --------------------------------

          Computer  and  office equipment are recorded at cost. Expenditures for
          major  betterments  and  additions are capitalized while replacements,
          maintenance and repairs which do not improve or extend the life of the
          respective  assets,  are  expensed.

          Depreciation  is  computed  by the straight-line method over estimated
          useful  lives  of  five  years.


                                      -7-
<PAGE>
                     CROWN INTERNATIONAL, INC. & SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2003



NOTE 2.   SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)
          -----------------------------------------------------------

          INCOME  TAXES
          -------------

          Deferred  income  taxes are provided for differences between the basis
          of  assets  and  liabilities for financial and income tax reporting. A
          valuation  allowance is provided against deferred income tax assets in
          circumstances where management believes recoverability of a portion of
          the  assets  is  not  reasonably  assured.

          (LOSS)  PER  SHARE
          ------------------

          (Loss)  per  share  is computed by dividing net (loss) for the year by
          the  weighted  average  number  of  shares  outstanding.

          COMPREHENSIVE  INCOME
          ---------------------

          SFAS No. 130, Reporting Comprehensive Income establishes standards for
          reporting and presentation of changes in stockholders equity resulting
          from  non-owner  sources.  Comprehensive  income  is  the total of net
          income  (loss)  and other comprehensive income. For the Company, other
          comprehensive  income  is  comprised  entirely  of  foreign  currency
          translation  adjustments.

          STATEMENT  OF  CASH  FLOWS
          --------------------------

          For purposes of this statement the Company considers all highly liquid
          investments  with  an  original maturity of three months or less to be
          cash  equivalents.

          USE  OF  ESTIMATES
          ------------------

          Management  uses  estimates  and  assumptions  in  preparing financial
          statements  in  accordance  with  generally  accepted  accounting
          principles.  Those  estimates  and  assumptions  affect  the  reported
          amounts  of  assets  and


                                      -8-
<PAGE>
                     CROWN INTERNATIONAL, INC. & SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2003



NOTE 2.   SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)
          -----------------------------------------------------------

          USE  OF  ESTIMATES  (CONTINUED)
          ------------------------------

          liabilities,  the disclosure of contingent assets and liabilities, and
          the  reported revenues and expenses. Accordingly, actual results could
          vary  from  the estimates that were assumed in preparing the financial
          statements.

NOTE 3.   SOFTWARE  RESEARCH  AND  DEVELOPMENT  COSTS
          -------------------------------------------

          On  November  5,  1999,  the  Company  purchased intellectual property
          (communications  software)  valued  at $850,000. This software has not
          yet been fully developed and/or marketed. Under Statement of Financial
          Accounting  Standards  No.  86,  Accounting  for the Costs of Computer
          Software  to be Sold, Leased, or Otherwise Marketed, costs incurred to
          establish  the  technological  feasibility  are  expensed as incurred.
          Technological feasibility is established when all planning, designing,
          coding,  and  testing  activities  necessary  to  determine  that  the
          software  can be produced according to design specifications have been
          completed.  To  date,  all  costs including the purchased intellectual
          property  of  $850,000 have been expensed. During the year ended March
          31,  2002,  the  Company  suspended  its  research  and  development
          activities.

NOTE 4.   INCOME  TAXES
          -------------

          As of March 31, 2003, the Company has net operating loss carryforwards
          for  income  tax  purposes  of approximately $135,700 expiring through
          March 31, 2022, available to offset future taxable income. No deferred
          income  taxes  have been recorded due to the Company having no history
          of  profitable operations. Significant components of the Company's net
          deferred  income  tax  asset  are  as  follows:


                                      -9-
<PAGE>
                     CROWN INTERNATIONAL, INC. & SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2003



NOTE 4.   INCOME  TAXES  (CONTINUED)
          -------------  ----------

<TABLE>
<CAPTION>
                                         2003        2002
                                      ----------  ----------
<S>                                   <C>         <C>
           Start-up expenditures      $ 669,000   $ 532,600
           Net operating loss
             carryforward                51,000      51,000
                                      ----------  ----------
                                        720,000     583,600
           Less: Valuation allowance   (720,000)   (583,600)
                                      ----------  ----------

           Net deferred income tax
             asset                    $       -   $       -
                                      ==========  ==========
</TABLE>

          During  the  year  ended  March  31,  2003,  the  valuation  allowance
          increased  by  $136,400.

          The  reconciliation  of  income  tax (benefit) computed at the federal
          statutory  rate  to  income  tax  expense  (benefit)  is  as  follows:

<TABLE>
<CAPTION>
                                        2003      2002
                                      --------  --------
<S>                                   <C>       <C>
           Tax (benefit) at federal
             statutory rate           (34.00)%  (34.00)%
           State tax (benefit), net
             of federal benefit         (3.63)    (3.63)
           Valuation allowance          37.63     37.63
                                      --------  --------

           Tax provision (benefit)      00.00%    00.00%
                                      ========  ========
</TABLE>

NOTE 5.   CAPITAL  STOCK
          --------------

          The  Company  has authorized 50,000,000 common shares with a par value
          of  $.001 per share. On November 5, 1999, 2,000,000 common shares were
          issued  in  acquisition  of  office  and  computer  equipment  and
          intellectual property/ purchased research and development costs valued
          at  $870,200.  On  October  28,  2002,  the  Company  issued a private
          placement  memorandum  for  the  offering  of  a


                                      -10-
<PAGE>
                     CROWN INTERNATIONAL, INC. & SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2003



NOTE 5.   CAPITAL  STOCK  (CONTINUED)
          ---------------------------

          maximum  of four units consisting of 100,000 common shares per unit at
          a  price  of Cdn.$.25 per share (US$.1575 per share) under Rule 506 of
          Regulation  D  of  the  Securities  Act of 1933. As of March 31, 2003,
          200,000  common  shares  were  sold  for  cash totaling $30,240 net of
          offering  costs  of  $1,260.  As  of  March 31, 2003, 3,103,900 common
          shares  were  issued  and  outstanding.

NOTE 6.   RELATED  PARTY  TRANSACTIONS
          ----------------------------

          DUE  TO  AFFILIATE
          ------------------

          The  Company  receives funding from a Canadian company wholly-owned by
          the  spouse  of  one  of  the  Companys  directors to pay for software
          research  and  development  costs  and  general  and  administrative
          expenses.  As  of  March  31,  2003,  the  amount due this company was
          $1,006,845.  The  amount  due  does not bear interest and has no fixed
          term  for  repayment.  Subsequent  to  March  31, 2003, additional net
          advances  of  approximately  $8,350  were  made.

          In  addition,  the  Company  engaged in various transactions with this
          Canadian  company  summarized as follows for the years ended March 31,
          2003  and  2002:

          Management  Fees  -  On  April  1,  2000,  the  Company entered into a
          ----------------
          management  agreement  to  provide  administrative,  professional  and
          marketing  services  for  a  yearly fee of Cdn$300,000 (US$194,100 and
          US$191,700  during  the  years  ended  March  31,  2003  and  2002,
          respectively).  The  agreement  can  be  terminated  upon  thirty days
          written  notice.  In  addition,  during November 2002, the Company was
          charged  US$75,000  for  corporate  governance  services.

          Office  Rent  -  The  Company  leased  office  space  for  an
          ------------


                                      -11-
<PAGE>
                     CROWN INTERNATIONAL, INC. & SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2003



NOTE 6.   RELATED  PARTY  TRANSACTIONS  (CONTINUED)
          -----------------------------------------

          annual  rental of Cdn$18,000 (US$11,600 and US$11,500 during the years
          ended  March  31,  2003  and  2002,  respectively).

NOTE 7.   COMMITMENTS
          -----------

          In  addition  to  the  leased  office space referred to in Note 6, the
          Company  leases  other  administrative  and  software  development
          facilities  on  a  month-to-month  basis for $389 and under a one year
          operating  lease  for  a monthly rental of $735 expiring September 30,
          2003.

          The  Company  also  leases  computer  equipment  under  noncancelable
          operating  leases  expiring  through  March  2005.

          Future  minimum  lease  payments  due under these leases for the years
          ending  subsequent  to  March  31,  2003  are  as  follows:

<TABLE>
<CAPTION>
                    March 31,                      Amount
                    ---------                      -------
<S>                 <C>                            <C>
                       2004                        $ 2,223
                       2005                          1,163
                                                   -------

                    Total                          $ 3,386
                                                   =======
</TABLE>

          During  the  years  ended  March  31,  2003 and 2002, rent expense was
          $25,112  and  $24,594,  respectively.

NOTE 8.   GOING  CONCERN
          --------------

          The accompanying financial statements have been presented on the basis
          of the continuation of the Company as a going concern. As reflected in
          the  financial  statements, the Company has incurred an operating loss
          of  $362,534


                                      -12-
<PAGE>
                     CROWN INTERNATIONAL, INC. & SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2003



NOTE 8.   GOING  CONCERN  (CONTINUED)
          --------------------------

          for  the  year  ended March 31, 2003 and has an accumulated deficit of
          $1,912,045  as  of  March  31,  2003.  These  conditions  create  an
          uncertainty  as  to  the  Company's  ability  to  continue  as a going
          concern.  With  the  Company's  investment  in  it's  subsidiary Crown
          Networks,  Inc.  to  provide  Internet  and  television  services  to
          residential  multi-dwelling  unit facilities, management believes that
          it  will  be  able to become successful and profitable. The ability of
          the  Company  to  continue  as  a  going concern is dependent upon the
          success  of  this  action. The financial statements do not include any
          adjustments  relating  to  the  recoverability  and  classification of
          recorded  asset  amounts  or  the  amounts  and  classification  of
          liabilities  that  might  be necessary should the Company be unable to
          continue  as  a  going  concern.


                                      -13-
<PAGE>
                          INDEPENDENT AUDITOR'S REPORT

To The Board of Directors
Crown International, Inc. & Subsidiary

We  have  audited  the  accompanying  consolidated  balance  sheet  of  Crown
International,  Inc. & Subsidiary (a development stage company), as of March 31,
2003  and  the  related  consolidated statements of operations and comprehensive
income,  changes  in stockholders' equity (deficit) and cash flows for the years
ended  March  31,  2003  and  2002  and  for  the  period  from December 6, 1996
(inception)  through March 31, 2003. 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 audit.

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

In  our opinion, the consolidated financial statements referred to above present
fairly, in all material respects, the financial position of Crown International,
Inc.  &  Subsidiary  (a development stage company) as of March 31, 2003, and the
results  of its operations and its cash flows for the years ended March 31, 2003
and  2002 and for the period from December 6, 1996 (inception) through March 31,
2003  in  conformity with accounting principles generally accepted in the United
States.

The  accompanying  financial  statements  have been prepared assuming that Crown
International,  Inc. & Subsidiary (a development stage company) will continue as
a  going  concern.  As  discussed  in  Note 8 to the financial statements, under
existing  circumstances,  there  is substantial doubt about the ability of Crown
International,  Inc. & Subsidiary (a development stage company) to continue as a
going concern at March 31, 2003. Managements plans in regard to that matter also
are described in Note 8. The financial statements do not include any adjustments
that  might  result  from  the  outcome  of  this  uncertainty.

June 23, 2003
Boca Raton, Florida


<PAGE>