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

                                   FORM 10-KSB

(Mark  One)
[X]     Annual Report Pursuant To Section 13 Or 15(D) Of The Securities Exchange
        Act  Of  1934

        For  the  fiscal  year  ended  DECEMBER  31,  2001

[    ]  Transition  Report  Under  Section  13  Or  15(D)  Of  The Securities
        Exchange  Act  Of  1934
        For  the  transition  period  from  _____  to  _____

COMMISSION  FILE  NUMBER:  000-32567

                              BLUE INDUSTRIES INC.
                              --------------------
                 (Name of small business issuer in its charter)

NEVADA                                        52-2273215
------                                        ----------
(State  or other jurisdiction              (I.R.S. Employer Identification  No.)
of incorporation or organization)          -------------------------------------
---------------------------------

28  RUE  DU  MARCH  CH  1211
GENEVA,  SWITZERLAND                       NOT  APPLICABLE
---------------------------------------    -----------
(Address of principal executive offices)   (Zip  Code)

011-336-1624-8726
Issuer's  telephone  number
---------------------------

                           BURRARD TECHNOLOGIES, INC.
                         1500 - 885 West Georgia Street
                      Vancouver, British Columbia  V6C 3E8
                      ------------------------------------
           (Former name or former address, if changed since last report.)

Securities  registered  under  Section  12(b)  of  the  Exchange  Act:  NONE

Securities  registered  under  Section 12(g) of the Exchange Act:  COMMON STOCK,
PAR  VALUE  $0.001

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

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

State  issuer's  revenues  for  its  most  recent  fiscal  year:  $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. (See definition of affiliate in Rule
12b-2  of  the  Exchange  Act.)  $11,976,949  as  of  April  4,  2002


State the number of shares outstanding of each of the issuer's classes of common
equity,  as  of the latest practicable date.   18,196,765 Shares of Common Stock
as  of  April  11,  2002

Transitional  Small Business Disclosure Format (check one): Yes  [   ]   No  [X]


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Transitional  Small Business Disclosure Format (check one): Yes  [   ]   No  [X]

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                                     PART I

FORWARD-LOOKING  STATEMENTS

This  annual  report contains forward-looking statements as that term is defined
in  the  Private  Securities  Litigation  Reform  Act of 1995.  These statements
relate to future events or our future financial performance.  In some cases, you
can  identify  forward-looking  statements by terminology such as "may", "will",
"should",  "expects",  "plans",  "anticipates",  "believes",  "estimates",
"predicts",  "potential"  or  "continue" or the negative of these terms or other
comparable terminology.  These statements are only predictions and involve known
and  unknown  risks, uncertainties and other factors, including the risks in the
sections  entitled  Description  of  Business  and  Management's  Discussion and
Analysis  or  Plan  of  Operation,  that may cause our actual results, levels of
activity, performance or achievements to be materially different from any future
results, levels of activity, performance or achievements expressed or implied by
these  forward-looking  statements.

Although  we  believe  that  the  expectations  reflected in the forward-looking
statements  are  reasonable,  we  cannot  guarantee  future  results,  levels of
activity,  performance  or  achievements.  Except as required by applicable law,
including  the  securities laws of the United States, we do not intend to update
any  of  the  forward-looking  statements  to conform these statements to actual
results.

Our  financial  statements  are  stated  in  United States Dollars (US$) and are
prepared  in  accordance  with  United  States  Generally  Accepted  Accounting
Principles.  In  this  annual  report,  unless  otherwise  specified, all dollar
amounts  are  expressed  in  United  States  dollars.

ITEM  1.     DESCRIPTION  OF  BUSINESS.

GENERAL

Blue  Industries,  Inc.  ("Blue  Industries" or "we") has developed a process of
water  treatment  and  decontamination without using chemicals.  We refer to our
technology  as  the  "BLUE  Industries"  water  treatment  process.  The  BLUE
Industries  water  treatment  process incorporates patented technologies that we
own and that are licensed to us.  The BLUE Industries water treatment process is
comprised  of  four  stages  of  water  treatment:

-     Clarification
-     Purification
-     Disinfection
-     Conservation

The  BLUE  Industries  water  treatment  process  enables  us  to  develop water
treatment apparatuses that achieve excellent results in the fields of wastewater
treatment,  farm  produce  industry  water  treatment  and  drinking  water
potabilization.  The  water  treatment  apparatuses  that  we have developed are
managed  by a proprietary micro-calculator and electronic management system that
regulates  and  controls  the  water  treatment process.  The flexibility of our
process  and the apparatuses that we have developed allows us to provide a range
of  products  that are capable of treating water flows from six cubic metres per
day  to  several  thousand  cubic  metres  per  day.

Our business plan calls for the marketing and sales of water treatment apparatus
incorporating  our  BLUE Industries water treatment process.  We did not achieve
any  sales  during our fiscal year ended December 31, 2001.   We commenced sales
of  our  products  in  the  first  quarter  of  2002.

CORPORATE  ORGANIZATION

Blue  Industries  Technologies,  Inc.  was incorporated as Burrard Technologies,
Inc.  on  April  5,  2000 under the laws of the state of Nevada.   Our corporate
name  was  changed  to  Blue  Industries  Inc.  effective  April  2,  2002.

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On  October  1,  2001,  we  completed a reverse split of our common stock on the
basis  of  three common shares for each existing common share previously issued.
Share  amounts in this annual report relating to periods prior the reverse split
have  been  restated  on  a  "post-split  basis".

We  conduct  our  business  through  Technocall  SA, our wholly-owned subsidiary
("Technocall").  Technocall  was  incorporated  under the laws of Switzerland on
March  11,  1992.  We  completed  the  acquisition of Technocall on December 18,
2001.  Prior  to  the  acquisition  of Technocall, we were developing a computer
software program known as the "International Reg", but were essentially inactive
through  much  of  2001  while  we  were  considering  financing  and  investing
opportunities.  Technocall  was  inactive  from  inception to September 29, 2001
when  it  acquired  all  the assets (including parts and supplies, machinery and
equipment  and computer software) comprising the Blue Industries water treatment
process  to  be marketed to government and non-government organizations in Asia,
Africa  and  the  Middle  East.

For  the  period  from  September through December 2001, Technocall was pursuing
various contracts for the sale of its water treatment process, but was otherwise
not  active.  In  2002,  we  have entered into sales contracts with companies in
China  and  Thailand to supply various units containing the Blue water treatment
process.  Additionally,  in  February  2002,  we entered into a joint venture of
which  we hold a 46% interest.  Upon formation of the joint venture, we licensed
to  the  joint  venture  the  water  treatment technology for territories in the
Middle  East,  North  Africa  and  Iran.

INTERNATIONAL  REGISTRATION  BUSINESS

We  acquired the rights to develop computer software known as the "International
Reg"  software  and  the associated www.internationalreg.com web site on May 24,
2000  from  Pan  Ocean  Consulting Ltd. in consideration for a purchase price of
$32,000.  We  determined  not  pursue  the development of this business upon the
completion  of  our  acquisition  of  Technocall,  as  described  below.

ACQUISITION  OF  TECHNOCALL

On  December  4,  2001,  we  entered into a share purchase agreement (the "Share
Purchase Agreement") with Technocall SA ("Technocall") and Advanced Technologies
Development  Co. Ltd. ("Advanced Technologies"), Rocasoprane Ltd. and Axiom S.A.
(together,  the "Technocall Shareholders") dated for reference November 23, 2001
whereby  we  agreed  to  acquire  all  of  the  issued and outstanding shares of
Technocall in consideration of the issue of 7,600,000 shares of our common stock
to  the  Technocall Shareholders.  The acquisition of Technocall was complete on
December  18, 2001 in accordance with the terms of the Share Purchase Agreement.
We  issued  a  total  of  7,600,000 shares of our common stock to the Technocall
shareholders  on  closing  as  follows:

     Technocall  Shareholder                         Number  of  Shares
     -----------------------                         ------------------

     Advanced  Technologies  Development  Co.  Ltd.  3,800,000  Shares
     Rocasoprane  Ltd.                               2,538,400  Shares
     Axiom  S.A.                                     1,261,600  Shares

Mr.  Fernand  Leloroux,  the president and a director of Blue Industries, is the
president  of  Technocall.  Mr.  Leloroux  became  our  president and a director
immediately  prior  to  our  acquisition  of  Technocall  on  December 17, 2001.

Concurrent  with  the  closing  of  the  Technocall  acquisition,  Mr.  William
Robertson,  the  former  president and a former director of Blue Industries, and
Mr.  Nick  Sirsiris, the former secretary and treasurer and a former director of
Blue  Industries,  surrendered  to  us  an  aggregate of 7,125,000 shares of our
common  stock  for  nil  consideration.  As  a result of these transactions, the
number  of  shares  of  our  outstanding  common stock increased from 17,187,000
shares to 17,662,000 shares on completion of the acquisition of Technocall.  Mr.
Robertson  and Mr. Sirsiris also resigned as officers of Blue Industries as part
of  this  acquisition  transaction.  Mr.  Fernand  Leloroux  was  appointed  as
president  of  Blue  Industries  in

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replacement  of  Mr. Robertson.  Mr. Cyrill Heitzler  was  appointed  as
secretary  in  replacement  of  Mr. Sirsiris.  Mr. Robertson  and  Mr.
Sirsiris resigned as directors of Blue Industries effective December  17,
2001.  There  was  no  disagreement  between  us and our former directors on any
matter  relating  to  our  operations,  policies  or  practices.

As  a  consequence  of  the  completion  of  the  acquisition of Technocall, the
surrender  of  stock  by  Mr.  Robertson and Mr. Sirsiris and the changes in the
board  of  directors  and  officers  of  Blue  Industries, there was a change in
control  of  Blue  Industries  effective  December  18,  2001.

The  share  exchange  with the stockholders of Technocall was accounted for as a
reverse  acquisition,  since  at the completion of the share exchange the former
stockholders  of Technocall controlled approximately 43% of our company's common
stock  immediately  upon  conclusion  of  the  transaction, Mr. Leloroux and Mr.
Heitzler  are  our  sole  directors  and  the  continuing  business  is  that of
Technocall.  Following  the  accounting  for reverse acquisitions, the financial
statements  subsequent  to  closing  of  the  share  exchange are presented as a
recapitalization  of  Technocall.  Accordingly,  our operations are consolidated
with  those  of  Technocall  since  the  date  of  acquisition.  All  financial
information  presented  for  periods  prior  to  the acquisition date is that of
Technocall.

Prior  to the acquisition of Technocall, we were essentially inactive having net
liabilities  of  approximately  $62,068  and  accumulated  a  deficit  from our
previous  business  venture  of  $117,468.

DEVELOPMENT  OF  THE  BUSINESS  OF  TECHNOCALL

Agreement  with  Advanced  Technologies

Technocall  acquired the software, patents, property and equipment and parts and
supplies  inventory  comprising the Blue Industries water treatment process from
Advanced  Technologies  on  September  29,  2001.  The  technology  acquired  by
Technocall  pursuant  to  this  agreement  included  the  electronic  smart card
management  system  for the Blue Industries water treatment apparatus.  Advanced
Technologies  owned  50%  of  Technocall  at  the  time  of  our  acquisition of
Technocall  and  is  one  of  our  principal  shareholders.

Technocall  issued  to  Advanced Technologies a subordinated note payable in the
amount  of  $4,288,500 as consideration for this transfer of assets.  Subsequent
to  the acquisition, Advanced Technologies agreed to forgive $31,070 of the note
payable in respect of previous expenses incurred by Technocall.  The forgiveness
was  recorded  as  a  reduction  in  the  distribution  of equity.  The debt was
subordinated  against  future  indebtedness  and  was unsecured and non-interest
bearing  with no specific terms for repayment.  Because the acquisition was from
a  significant  Technocall  stockholder,  the  value  we  assigned to the assets
acquired  represents  the  carrying  value  of  the  assets  to  the significant
stockholder  at the date of acquisition of $423,937.  The difference between the
agreed  amount  of the note payable recorded in our financial statements and the
value  assigned  to the assets transferred from the stockholder of $3,864,563 is
recorded  as  a  distribution  of  equity  in  our  financial  statements.

Advanced  Technologies  agreed  to  forgive this indebtedness effective April 2,
2002.  Accordingly,  neither we nor Technocall are liable for the payment of any
further  amount  to  Advanced Technologies as a result of this acquisition.  The
forgiveness  of indebtedness will be recorded as a reduction to the distribution
of  equity  and  additional  paid-in  capital in our 2002 consolidated financial
statements.

Agreement  with  Cartis  Inc.

Technocall  entered  into  an agreement with Cartis Inc., a Florida corporation,
("Cartis")  on  September 28, 2001 (the "Cartis Agreement").  Under the terms of
the  Cartis  Agreement,  Technocall was granted the exclusive worldwide right to
distribute  powder  cartridges  developed  by Cartis that incorporate a patented
water  treatment  process  developed  by  Cartis.  These  powder  cartridges are
incorporated  into  the design of the Blue Industries water treatment apparatus.
The  exclusivity  of  the  rights  granted  by  Cartis  to  Technocall depend on
Technocall  meeting  sales  targets  agreed  to  by  Technocall  and  Cartis  at
six-month,  12-month  and  18-month intervals.  If the agreed upon sales targets
are  not achieved, Cartis will be free to

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continue or suspend the exclusivity of
the rights granted to Technocall.  In exchange, Technocall granted to Cartis the
non-exclusive  right to purchase electronic calculators and smart cards owned by
Technocall for the electronic management of water production and water treatment
apparatus.  The  Cartis
Agreement  is  for  a  three  year term ending on September 28, 2004, subject to
automatic  renewal  for a further three years if there is no cancellation in the
six  months  preceding  the  date  of  termination.

Agreement  with  Eaudegam  SA

We  entered  into  a  patent license contract with Eaudegam SA dated February 6,
2002 whereby we acquired an exclusive license regarding the French Patent No. 00
07642  and International Patent PCT/FR01/01817 owned by H.T.C.I. and licensed to
Eaudegam.  The patent was registered in France on June 15, 2000 and applies to a
purification  process  for  sewage effluents.  This process is incorporated into
the  clarification  stage of our Blue Industries water treatment process.  Under
the  terms  of this agreement, we acquired a manufacturing and marketing license
from  Eaudegam  for  the  wastewater  purification device governed by the patent
claims.  The  license is for a term of ten years with the possibility of renewal
for  additional  five year terms.  The license is applicable to the countries of
Saudi  Arabia,  Thailand,  Cambodia,  China,  Yemen, United Arab Emirates, Oman,
Qatar,  Bahrain,  Iran,  Syria,  Lebanon,  Jordan, Sudan, Egypt, Libya, Morocco,
Tunisia  and  Algeria.  Under  the  agreement,  we  agreed  to pay to Eaudegam a
quarterly  royalty  of 10% per year applicable on sales of devices incorporating
the  patented  technology, subject to a minimum royalty payment of $1,500,000 in
each  quarter, for a minimum annual royalty of $6,000,000.   We were granted the
option  to  redeem  the  royalties  with one single payment corresponding to two
annual  royalty  payments provided this payment was made by March 30, 2002.  The
grant  of  this  license  to  us  was consented to by H.T.C.I., the owner of the
patent  on  February  6,  2002.

We  entered  into  a  further  agreement  with  Eaudegam  SA  ("Eaudegam") dated
effective  March 26, 2002 whereby we agreed to issue 9,000,000 restricted shares
of  our common stock to Eaudegam in consideration for the reduction of royalties
payable  on  sales of products incorporating the licensed patent pursuant to the
patent  license  contract with Eaudegam.  This agreement was cancelled effective
April  11,  2002.  We  have  not issued the 9,000,000 shares to Eaudegam and the
royalty  remains  as  a  royalty of 10% of sales.   Eaudegam has indicated to us
that  it will agree to the waiver of the minimum annual royalty under the patent
license  contract  in  exchange  for  making  the  license rights non-exclusive.

The  patent  sub-license  acquired by us is in respect of a purification process
for  sewage effluent.  This process involves a physical-chemical treatment based
on  reversed  mud layers. After waste water enters the system, an injection of a
reagent  allows  coagulation  and  flocculation of the pollutants present in the
water.  This  operation  generates  a mud layer acting as a filter which reduces
treatment  time increases treatment capacity over other cost effective available
technologies.  At  the end of the cycle, water is clarified circulates through a
finishing  filter  mass.

TECHNOLOGY

BLUE  Industries  Water  Treatment  Process

The  BLUE  Industries  water  treatment  process  comprises four stages of water
treatment:

-     Clarification
-     Purification
-     Disinfection
-     Conservation

These  four  stages  of  treatment  are  discussed  as  follows:

1.     Clarification

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The  first  stage  of  water  treatment  in  the BLUE Industries water treatment
process  is  the  process  of  clarification.  This  clarification  process
incorporates  two  patented  processes.  The  first  process is a physiochemical
treatment based on the principle of reversed mud layer.  After pumping the water
effluent  that  is  to  be  treated, a re-agent is injected into the water which
allows  elements  present  in  the  effluent  to coagulate and flocculate.  This
process  creates  a  mud  layer  which  remains  inside  a cone within the water
treatment  apparatus.  This  mud  layer serves as a filter
which allows for more important purification of water. The mud is then recovered
from  the cone and is pumped intermittently within the apparatus. When the water
leaves  the  mud  layer  it  is  clarified  and then goes into a filtering mass.

The  second  process  of  clarification  involves implementing a bacteriological
treatment  through  the  use  of  a  fluidified  layer  with a vortex within the
apparatus. Under this process, filtered water goes through rings and pressurized
air  is  added  in  order  to  oxygenate  and generate physiochemical reactions.

We  believe  that  the  incorporation  of  these  patented  processes  into  the
clarification  process enables us to develop a water treatment apparatus that is
both  compact and has a low investment cost. The physiochemical treatment, based
on  the principle of reversed mud layer, contributes to a reduction of treatment
time,  a  decrease in the apparatus size, a decrease in chemical consumption and
the  optimization  of  precipitation  of  metals  from  the  effluent.  The
bacteriological  treatment  process  also  contributes  to  a  decrease  in  the
apparatus  size,  permits  possible  variations  of  water  flow  and  allows
de-nitrification  from  the  effluent.

2.     Purification  and  Conservation

The  purification and conservation of water treated in the BLUE Industries water
treatment  process  is  provided  by  the  Cartis  Process.  The  Cartis Process
incorporates  the  absorption  capacities  of  activated  carbon  with  the
antibacterial properties of silver. The Cartis Process uses a powder composed of
carbon  and  silver  to  purify  and  conserve  water.  The  Cartis  powders are
incorporated into powder cartridges that we incorporate into apparatuses that we
have  developed  using  the  BLUE  Industries  Water  Treatment  Process.

Recent  technological improvements in vacuum technology and plasma furnaces have
allowed  Cartis  to  create  a bond between carbon and silver. The covalent link
between  these two materials creates a new stable molecular structure.   The use
of  the  Cartis  powder  allows  for  two separate water treatments.  First, the
Cartis  powder  cartridges act like a "super sponge" which suppresses all traces
of  chlorine,  heavy metals, nitrogenous pesticides, bad tastes and smells.  The
passage of water through the CARTIS material creates a reaction between minerals
and  the  silver  bond  enhances  the REDOX potential. In this way, the water is
protected  against  any  possible  recontamination.  The  Cartis  Process is the
subject  to a patent owned by Cartis.  We purchase Cartis powder cartridges from
Cartis  pursuant  to  our  agreement  with  Cartis  dated  September  28,  2001.

3.     Disinfection

The  disinfection  stage  in  the  Blue  Industries  water  treatment process is
provided  by  the treatment of processed water with ultra-violet radiation. This
ultraviolet  process  allows  for  the  instantaneous  destruction  of bacterial
pollution.

4.     Electronic  Management  System

We  have  developed  a proprietary electronic management system that manages the
BLUE  Industries  water treatment process.  This electronic management system is
incorporated  into  the water treatment apparatuses that we have developed.  Our
electronic  management  system  is  incorporated  into  our  proprietary "e-BIS"
electronic  card  that  is incorporated into our BLUE Industries water treatment
apparatuses.  The  e-BIS  electronic  card  incorporates  a  microprocessor  and
includes  the  following  features:

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(1)     a  wide  tolerance  of  voltage  supply;

(2)     an  interface  for the network and loading of software that we developed
        for  management  of  our  water  treatment  processes;

(3)     a  real-time  clock  saved  by  a  lithium  battery;

(4)     an  analog  measuring  interface;

(5)     an  interface  for  UV  generated  control;

(6)     security  and  UV  management;

(7)     an  interface  for  solenoid  valve  control;

(8)     LCD  Display

(9)     bi-colour  LED  for  alarms  management

(10)    5-keys  keypad

In  addition,  we  have  developed  our  own software for management of the BLUE
Industries  water  treatment  process  through  our  e-BIS  electronic  card.

BLUE  INDUSTRIES  PRODUCTS

The  BLUE  Fountain  Kiosk

The  BLUE  Fountain Kiosk is a water treatment station created to supply potable
water in isolated sites, villages or small communities.  The BLUE Fountain Kiosk
is  a  fully  contained  water  treatment apparatus that is capable of supplying
potable  water  from  water  provided  from rivers, drilling or tanks.  The BLUE
Fountain  Kiosk integrates a tank allowing to recover rainwater and to stock raw
water.  This  tank  allows  the  apparatus to supply water during risky periods,
such  as  periods  of drought, monsoons, cyclones, etc.  The BLUE Fountain Kiosk
has been designed such that maintenance operations are easy and limited in order
that no qualified work force is required to use and maintain the water treatment
station.  The BLUE Fountain water treatment stations include the following water
treatment  processes:

(1)     Filtration;

(2)     Purification;

(3)     Disinfection;  and

(4)     Treatment.

In  the  treatment  station, the water is filtered in order to suppress the main
suspended  impurities.  This  operation  is  made  on  a sand layer through slow
filtration.  Water is then pumped into a flocculation tower which allows for the
suppression of dissolved materials and other physiochemical pollutants which may
be  present  in  the  water.  This patented and exclusive process allows for the
provision  of clear water.  At the end of the cycle, the water is pumped through
a  five-microns  particle  filter  which  provides  the total suppression of any
residual  elements that may be present in the water.  After being clarified, the
water  is  disinfected in an ultraviolet disinfection chamber.  This ultraviolet
process  allows  for  the  instantaneous  destruction  of  bacterial  pollution.

The  last stage of treatment in the BLUE Fountain Kiosk is the Cartis treatment.
The  Cartis  process  allows  for  the  suppression  of traces of bad tastes and
smells, nitrate pesticides, heavy metals and chlorine.  In

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addition, the passage
of  water  through  the  Cartis  powder  cartridges  allows for the provision of
natural  conservation  of  properties  that  protects the water against possible
bacterial  recontamination.  In  this  way,  water  can  be  stocked  before
consumption.

The  BLUE  Fountain  Kiosk  is  composed  of  five  main  units:

(1)  Kiosk - The Kiosk is the frame which integrates the potable water storage
     tank, the shelter, the supply point and the various treatment units.
(2)  Filtration Block - This Block is a sand filter with a capacity of changing
     according the need and is comprised of 25 to 50 kilograms of sand. The
     filter is equipped with a backwash valve.

(3)  Flocculation Tower - This proprietary equipment is composed of a tower, a
     flocculation bolus, a measuring pump and a mud evacuation valve.

(4)  Overpressure Machine

(5)  Blue Treatment Station - This Station integrates all elements of
     disinfection and water treatment, including a five microns filter, a
     disinfection chamber, the Cartis powder treatment cartridges and electronic
     control of the whole treatment station.

Option elements that may be added to the BLUE Fountain Kiosk include a generator
and  a  secondary  potable  water  tank.

The  BLUE  Fountain  Kiosk  has been designed for easy maintenance.  Maintenance
consists  of  making two annual analyses and changing the consumable products at
the  end  of their useful life.  The end of the consumable products incorporated
into  the  BLUE  Fountain  Kiosk  is indicated either by a visual alarm, a sound
alarm  or  by  remote  transmission.

The  consumable  products  incorporated into the BLUE Fountain Kiosk include the
Cartis  cartridges,  a  25-watt ultraviolet lamp and a quartz sleeve and joints.
These  consumable  products  have  varying  useful  lives.

Changing  the  consumables at the end of their useful life guarantees a constant
quality of the water provided by the BLUE Fountain Kiosk.  In addition, the BLUE
Fountain  Kiosks  are  equipped  with  the  following  security  controls:

(1)     Electrical  Security

In  the event of a power supply cut, the water supply network is cut thanks to a
solenoid  valve.  The  tank provides potable water during all times of the power
cut  and  then  fills  up  automatically  when the electrical supply comes back.

(2)     Bacterial  Security

In the event of a breakdown of the disinfection lamp or an unacceptable level of
turbidity,  a  solenoid  valve  cuts  the  water  circuit.

(3)     Consumable  Security

Once  arrived  at  the  acceptable consumable use limit, a visual or sound alarm
starts  up.  At  the  end of the consumables' useful life, a solenoid valve cuts
the  treatment  circuit.

These  security  measures allow for the guarantee to the consumers of a constant
supply of potable water.  The BLUE Fountain Kiosk has been designed to limit the
risk  of  breakdown  using components that are reliable and easy to use.  During
supply  cuts,  buffer  tanks  provide  potable  water  supply.

                                  Page 9 of 29
<PAGE>

There  are two types of controls incorporated into the BLUE Fountain Kiosk.  The
first control uses physiochemical analysis, which assures the good working order
of  filtration  and  purification  elements.  The  second  control  consists  of
bacteriological  analysis  which  assures the good working order of disinfection
elements.

CURRENT  PRODUCT  LINE

Our  current  product  line  includes  the  following  products:

BI  P6

The  BI  P6  is  a point of use, environmentally safe, water purification system
with  a  6  cubic  meters  per  day  capacity. The BI P6 system provides quality
drinking  water  through  filtration,  disinfection, purification, and the water
maintains  purity  after  treatment  without  the  use of chlorine. The BI P6 is
managed  remotely  with  a proprietary electronic control system called the e-BI
P1.  It  controls  the  alarms  and  ensures  the  proper  safety procedures and
maintenance. The e-BI P1 monitors and controls the UV lamp. It is built into the
frame  of  the  BI  P6.  The  BI  P6 utilizes our exclusive Cartis cartridge and
constitutes  a complete treatment combination for water purification and is also
mobile  and  easy to install. The target market for the BI P6 is homes and small
business  that  need  clear,  drinkable  water.

BI  P60

The  BI  P60  is a point of use, environmentally safe, water purification system
with  a 60 cubic meters per day capacity. The BI P6 system has the same features
as  the  BI P6. However, the target market for the BI P6 is commercial customers
that  also  need  clear,  drinkable  water.

BI  C24

The  BI  C24 is a clarification system based on the HTCI patent with a treatment
capacity  of  24  cubic  meters  of  water  per day. The system takes water from
various  sources  such as lakes, wells, rivers, or industrial wastewater. The BI
C24  treats  industrial  waste water and recycles dirty waters to make it clear.
The technology removes a number of existing pollutants such as suspended solids,
nitrates,  iron,  ammonia,  and many others. It also provides pH neutralization.
The  target  market  is clarification of water for agricultural use, waste water
treatment  of  small and medium sized industries and clarification of water from
rivers  and  lakes  so  that  it  can  be  further  treated  for  drinking.

We  are  currently  undertaking  the  development  of  the  following  products:

CS-10

The  CS-10  is  an environmentally friendly septic tank using a new process that
allows  customers  to  obtain  clear  and  pure  water from septic fluids with a
capacity  of  10  cubic  meters  per  day.

The development is 30% completed and final prototype is expected to be completed
in  September.  Final  approval,  manufacturing  documentation,  quality control
documentation  need  to  be  finalized.  The  target  market  for this system is
homeowners  that  can  reuse  the  water  for  irrigation  or  drinking.

CP-24

The  CP-24  is  a  system that combines the clarification and the potabilisation
process  into  one  system.  This  allows  users to take raw or dirty water from
sources such as lakes, rivers, wells, or underground water and clarify the water
and  then  make  it  potable.  The  system is 65% complete and is expected to be
finalized  in  August.  50  beta  systems  have  been  ordered  for  delivery in
September.

PA-60


                                  Page 10 of 29
<PAGE>

The  PA-60  is  an  apparatus  that  uses Cartis cartridges to process water for
agricultural  use.  The  system removes bacterial and has a capacity of 60 cubic
meters  per  day.  This  natural  treatment  allows  treatment  of water without
modifying  the  nutritional  additives for agricultural use. The prototypes have
been  completed  and  tested and approved. Testing by a special shrimp producers
commission  of  Thailand  has  been  completed  and  orders  for 1,000 units are
expected  in 2002. Delivery of units is expected to begin in August and continue
for  five  years.  Target  market  for this system is agricultural applications.

MANUFACTURING

Our Blue Industries water treatment apparatuses are made under sub-contract with
manufacturers.  We  complete the engineering and design of each of our products.
Once  engineering and design is complete, sub-contractors manufacture prototypes
that  we  use  for  testing  and evaluation purposes.  Once design is
finalized,  production of the components comprising the units and their assembly
are  completed  by  the  sub-contractor.  We  do  not  undertake  manufacturing
activities  ourselves.

MARKET  FOR  THE  BLUE  INDUSTRIES  WATER  TREATMENT  TECHNOLOGIES

We  have  identified  three  principal  markets  for  the  BLUE Industries Water
Treatment  technologies  and  apparatuses  as  follows:

(1)     Potabilization

The  supply  of  potable  water  for  human  consumption is a worldwide concern.
Currently,  only  one-third  of the world's population is supplied with reliable
potable  water.  We  believe  that  the supply of water treatment apparatuses to
third  world  countries  is  a  strong  potential market because of the numerous
budgets  operated  by non-government organizations and bi-lateral organizations.
Implementation  of  water treatment apparatuses is difficult because of the fact
that  the  population  is  mainly  composed of villages which are often far from
economic  centers.  In addition, there is typically a lack of infrastructure and
persons  equipped  with  the  required  technical  competence  to maintain water
treatment  apparatuses.

We  have  designed  our  BLUE  Industries water treatment apparatuses to provide
potable  water  in  remote  locations  with minimized and simplified maintenance
operations.  Our  BLUE  Industries water treatment apparatuses are also designed
to  produce  potable  water  that  meets  applicable  government  regulations.

We  plan  to  market  our BLUE Fountain Kiosks for implementation in third world
countries  where  potable  water  is  concerned.

(2)     Wastewater

We  have  designed  our  BLUE  Industries  Water  Treatment apparatuses to treat
wastewater  designed  by  various  industrial  activities.  Effluent  from  the
following  industries  can  be  processed:

(i)     Farm-produce  industry;
(ii)     Washing  plants/laundries;
(iii)     Paper  plants;
(iv)     Textiles;
(v)     Chemical  industry  plants;
(vi)     Iron  and  steel  industry  plants.

We  have  designed our BLUE Industries Water Treatment apparatuses to be compact
apparatuses  that  can  be  implemented in compact areas and at a low investment
cost.

(3)     The  Farm-Produce  Industry

                                  Page 11 of 29
<PAGE>

Water  quality  in  the  farm-produce  industry  is very important because water
quality  is  directly linked to production output.  Usually, hydroponics farming
works  due  to  the addition of nutritive solutions that optimize the output and
protect  cultivations from some parasites.  The principle consists of having the
irrigation  system  work  in  a  loop  in  order  to  control  water quality and
concentration  of  additives.  The  re-use  of  these  nutritive solutions often
provokes  a  bacterial  contamination  of  the tanks and the irrigation process.
Losses  as a result of bacterial contamination can result in a loss of up to 50%
of  production.  Conventional  treatment  of  bacterial  contamination,  such as
chlorine,  is  not  possible  for  these  hydroponics  farming  operations.

We  plan  to  market  the  BLUE  Industries  water  treatment apparatuses to the
farm-produce  industry.  On  test  results,  we  have  demonstrated  that  the
incorporation  of  our technology into farm-produce industry irrigation can have
the  result  of  increases  in  production  and
the  decontamination  of  water.  Specific  targets  for  our  technology in the
farm-produce  industry  include  China,  Thailand,  shrimp-farming  and Vietnam.

SALES  CONTRACTS  RECEIVED  BY  THE  COMPANY

Our  plan  of operations includes developing distribution agreements in specific
countries  with  local  companies  that  local business expertise.  Payments for
significant orders of our products under distributor arrangements are secured by
irrevocable  letters  of  credit  on  terms  negotiated  with  the  distributor.

We  have  entered  into  the  following  sales  contracts  and  memorandums  of
understanding  and  received  the  following  orders  for  our  products:

In  December  of  2001,  the China Ministry of Health ordered from us 2,000 P 60
clarification  systems  and 400 P 6 purification systems, and 2 sewage treatment
sites  with  a  capacity  of  20,000 cubic meters per day. The 18 month contract
including  spare  parts,  engineering,  maintenance,  and  service  totals
approximately  15,000,000  Euros.  As of March 31, 2002 we have delivered 40 P 6
systems,  83 P 60 systems, 3 C 24 systems primarily to schools in Beijing, for a
total  invoiced  value  of approximately $358,000.   Payment of amounts invoiced
are  secured  by  a  letter  of credit issued in our favor under this agreement.

In  December  of  2001,  we  signed  a  memorandum  of  understanding  in with a
distributor  in  Thailand  for  1,000  PA  60  systems  with  a  total  value of
approximately $ 850,000. These systems are to be delivered in the second half of
2002.  Management  signed  the  final  contract  on  April  10,  2002.

Desert  Blue  Joint  Venture

We  entered  into  a  joint venture agreement with M.L.T.O. for the Middle East,
North  African  countries  and  Iran.  These  countries  include:  Saudi Arabia,
Yemen,  United Arab Emirates,  Oman,  Iraq,  Syria, Lebanon, Jordan, Sudan,
Egypt,  Libya,  Morocco, Tunisia and Algeria.  M.L.T.O. is a company
specialized in  investments  related  to  the  treatment  of water and is
represented by Dr. Mohammed  Saad  Yamani.  Under this arrangement, we have
agreed to incorporate a Swiss  company to be known as Desert Blue.  We will own
a 46% interest in Desert Blue  and  M.L.T.O.  will  own  a  56%  interest.

We have agreed to grant exclusive distribution rights to Desert Blue pursuant to
a  partnership  contract  dated February 12, 2002.  Under this agreement, Desert
Blue  will have exclusive distribution rights for the Middle East, North African
countries  and  Iran  for  a  term  of ten years, subject to Desert Blue meeting
performance  criteria to be agreed upon.  The performance criteria include sales
targets  at six months, twelve months and eighteen months, both by equipment and
zone.  If  these  criteria  are  not  reached,  we  will  be free to suspend the
exclusivity  of  the distribution rights.  Desert Blue will agree to pay to us a
$1,000,000  up  front licence fee, of which we will fund $460,000 in accordance
with our  interest  in  Desert  Blue, and an additional 10% royalty on sales
achieved under  the  agreement.  To date we have not yet earned the up front
licence fee.

                                  Page 12 of 29
<PAGE>

We received a $1,136,000 order in February 2002 from Desert Blue under the joint
venture  agreement  for  30  P 6, 5 P 60, 4 C 24's plus engineering for a sewage
treatment  plant  with  a  capacity  of  20,000  cubic  meters  per  day.

COMPETITION

We  compete  with  major  international companies that are involved in the water
treatment  business.  These  companies  include:  Vivendi,  Suez and RWE.  These
companies have greater capital resources and greater brand name recognition than
we  have.

Our plan is compete with the established competition on the basis that our water
treatment  apparatuses provide excellent water treatment characteristics without
the  addition  of  any  chemicals  to  the water.  The water treatment processes
offered  by  our  competitors  generally rely on the addition of chemicals, most
commonly  chlorine,  in  order  to  provide  water  treatment.  Our  success  in
competing  with  these  competing  technologies  will  depend  on our ability to
convince  customers  that  our  Blue  Industries  water treatment process offers
performance  advantages.

                                  Page 11 of 26
<PAGE>

GOVERNMENT  REGULATION

Government regulations in each country in which are products are used govern the
quality  of  potable  water  and industrial waste water.  These regulations will
govern  our  purchasers who must ensure that the quality of water produced using
our  products  meets  applicable  government  regulations  and  will  vary  from
jurisdiction  to jurisdiction.  Accordingly, our business and ability to achieve
sales  is  impacted  by  our  ability  to  demonstrate to our customers that our
products  are  capable  of  enabling our customers to meet applicable government
regulation.  The  presence  of  government  regulation  has  the  possibility of
increasing  demand  for  our products to the extent that we can demonstrate that
customers  can  achieve  compliance  with  government  regulation  by  using our
products.  Our  inability  to  demonstrate  that  our  products  are  capable of
enabling  potential  customers  to  meet  applicable government regulations will
affect  our  ability  to  achieve  sales  to  these  potential  customers.

We  must  ensure  that  our  Blue  Industries  water  treatment  apparatuses are
manufactured  in  accordance  with the prevailing laws of France, the country of
manufacture.  The  costs  of  compliance with these regulations are incorporated
into  our  development  costs.

EMPLOYEES

We  currently  have ten employees.  All of our employees are full-time employees

RESEARCH  AND  DEVELOPMENT

We  have  not  incurred any research and development expenses during each of our
last  two  fiscal  years.  Substantially  all  the  research and development was
completed  by  Advanced  Technologies  and predecessors prior to the transfer of
assets  to  Technocall.


ITEM  2.     DESCRIPTION  OF  PROPERTY

Our  principal  executive  offices  are  located  at  28  rue du March , Geneva,
Switzerland  CH  1204.  These  premises consist of approximately 800 square feet
and  are  leased  by  us  for a term of three years.  We anticipate that we will
vacate  these  premises  in  June  2002  when we take on new premises in Annecy,
France.  See  Item  6.  -  Plan  of  Operations.  Our minimum monthly rent
payment on these offices is $2,400.

Our  administrative  and  development offices are located at 414 rue de la Gare,
Pringy, France 74370.  These premises consist of approximately 6,500 square feet
and  are  leased  by  us  for  a  term  of  three  years.  Our minimum monthly
rent payment on these offices is $2,630.

                                  Page 13 of 29
<PAGE>

Our  communications  and  marketing  offices  are located at 414 rue St. Honore,
Paris,  France 75008.  These premises consist of approximately 1,200 square feet
and  are  leased  by  us  for  a  term  of  three  years.  Our minimum monthly
rent payment on these offices is $2,930.

The leases were all entered into during 2002 and can be cancelled with three
months written notice.

We  do  not  have  any  manufacturing  plants or premises as we sub-contract the
manufacture  of our Blue Industries water treatment apparatuses with third party
manufacturers.

We  do  not  own  any  real  property.


ITEM  3.     LEGAL  PROCEEDINGS.

We  are  not  a party to any material legal proceedings and to our knowledge, no
such  proceedings  are  threatened  or  contemplated.


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

There  were no matters submitted to a vote of our shareholders during the fourth
quarter  of  our  fiscal  year  ended  December  31,  2001.

                                  Page 14 of 29
<PAGE>

                                     PART II


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

Market  Information

Our  shares  are  currently  trading  on  the OTC Bulletin Board under the stock
symbol  BLUI.  Our  shares  were  traded  under the stock symbol BTGS commencing
December  17,  2001  until  April  5,  2002. The high and the low trades for our
shares  for  each  quarter  of  actual  trading  were:


       QUARTER          HIGH ($)  LOW ($)
                        -----     -----
   4th Quarter 2001     $2.30     $2.05
                        -----     -----
   1st Quarter 2002     $2.68     $0.87
                        -----     -----


Holders  of  Common  Stock

As  of  the  date  of  April  11,  2002, there were seventy-five (75) registered
shareholders  of  our  common  stock.

Dividends

We  issued  a  stock  dividend to our shareholders of record on October 1, 2001.
This  stock  dividend was issued by us, and not by Technocall.  Each shareholder
of  record  was  issued two additional shares of our common stock for each share
held  prior  to  the record date. Our common stock was approved for trading on a
post-split  basis  effective  as  of  October 1, 2001. As a result of this stock
dividend,  the  issued and outstanding shares of our common stock increased from
5,729,000  shares  to  17,187,000  shares.

There  are  no  restrictions  in  our  Articles  of Incorporation or bylaws that
restrict  us  from  declaring  dividends.  The Nevada Revised Statutes, however,
prohibit  us  from  declaring  dividends  where,  after  giving  effect  to  the
distribution  of  the  dividend:

(A)  we would not be able to pay our debts as they become due in the usual
     course of business; or

(B)  our total assets would be less than the sum of our total liabilities, plus
     the amount that would be needed to satisfy the rights of shareholders who
     have preferential rights superior to those receiving the distribution.

We have neither declared nor paid any cash dividends on our capital stock and do
not  anticipate  paying  cash  dividends  in the foreseeable future. Our current
policy  is  to  retain  any  earnings  in  order to finance the expansion of our
operations. Our board of directors will determine future declaration and payment
of dividends, if any, in light of the then-current conditions they deem relevant
and  in  accordance  with  the  Nevada  Revised  Statutes.

RECENT  SALES  OF  UNREGISTERED  SECURITIES

We  issued  a  total of 7,600,000 shares of common stock in consideration of the
acquisition  of  all  of  the  issued and outstanding shares of capital stock of
Technocall,  SA on December 18, 2001. All shares were

                                  Page 15 of 29
<PAGE>

issued to the shareholders
of  Technocall,  SA in proportion to the number of shares of Technocall, SA held
by each shareholder. The shares were issued pursuant to Section 4(2) of the Act.
See  Item  1.  Description  of  Business  -  Acquisition  of  Technocall.

We completed the sale of 534,765 shares of our common stock on February 25, 2002
at a price of $1.79 per share for proceeds of $957,229. The purchasers consisted
of  a total of 53 purchasers. We completed the offering pursuant to Regulation S
of  the  Securities  Act.  All sales were made in reliance of Category 3 of Rule
903  of  Regulation  S  on  the  basis  that:  (a)  each  sale  was  an offshore
transaction;  (b)  no directed selling efforts were made by us in completing any
sales;  and  (c)  offering  restrictions  were  implement.  These  offering
restrictions  included  endorsing  all  stock  certificates  representing  the
purchased  shares  with  the  legend required by Rule 905 of Regulation S.  Each
purchaser: (a) certified to us that purchaser is not a U.S. person as defined in
Regulation  S; (b) agreed to resell the purchased shares only in accordance with
the  provisions  of  Regulation  S,  pursuant  to registration under the Act, or
pursuant  to  an available exemption from registration; (c) agreed not to engage
in  hedging transactions with regard to the shares unless in compliance with the
Act;  and (d) agreed that we were required to refuse to register any transfer of
the  shares  not  in compliance with the provisions of Regulation S, pursuant to
registration  under  the  Act  or  pursuant  to  an  available  exemption  from
registration.  We  did  not  engage  in  a  distribution of this offering in the
United  States.  Each  purchaser  represented  his  intention  to  acquire  the
securities  for  investment  only and not with a view toward distribution.  Each
investor was given adequate access to sufficient information about us to make an
informed  investment  decision.  None  of  the  securities  were sold through an
underwriter and accordingly, there were no underwriting discounts or commissions
involved.  No  registration  rights  were  granted  to  any  of  the purchasers.


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

Our  consolidated financial  statements  reflect  the  financial  condition
results  of operations  and cash flows of Technocall, our wholly owned
subsidiary, for all periods prior to
December  18, 2001.  Technocall was inactive from inception on March 11, 1992 to
September  29,  2001  when  it  acquired  all  the  assets  (including parts and
supplies,  machinery  and  equipment  and computer software) comprising the Blue
Industries  water  treatment  process  to  be  marketed  to  government  and
non-government  organizations  in  Asia,  Africa  and  the  Middle  East.  This
acquisition  was  accounted for by us using the purchase method of accounting as
applicable to reverse acquisitions because the former stockholders of Technocall
controlled  approximately 43% of our common stock immediately upon conclusion of
the  transaction,  representatives  of Technocall are now our sole directors and
officers  and  our  continuing  business  is  that of Technocall.  Under reverse
acquisition  accounting,  the post-acquisition entity will be accounted for as a
recapitalization  of Technocall.   As a result of this accounting, our financial
statements  for  all periods prior to December 18, 2001 reflect the business and
operations  of  Technocall.

PLAN  OF  OPERATIONS

Our  plan  of  operations  for  the  next  twelve  months includes the following
elements:

1.   We plan to complete performance under our sales contract with the China
     Ministry of Health. We anticipate that we will incur expenditures of
     $150,000 in performing our obligations pursuant to this contract;

2.   We plan to commence sales of our products under our memorandum of
     understanding with a distributor for Thailand. We anticipate that we will
     incur expenditures of $65,000 in performing our obligations pursuant to
     this contract;

3.   We plan to complete development and specification for manufacturing of four
     new products: the P6, P60, CS10 and C24. In order to complete this
     development we are planning on moving into new premises in Annecy, France
     in June 2002. The monthly lease rent for this location is expected to be
     approximately $10,000 per month. We plan to hire two laboratory

                                  Page 16 of 29
<PAGE>

     scientists
     and one prototype engineer to complete this development in Annecy. We
     anticipate that operating expenses of this operation will be approximately
     $12,000 per month. We anticipate that we will vacate our premises in Geneva
     when we move into these new premises;

4.   We anticipate undertaking marketing and advertising activities consisting
     of printing of corporate brochures, assembly of a data sheet for technical
     information on our products, establishing of a web-site and conducting
     promotional activities from our web site. We estimate that these marketing
     expenses will total approximately $90,000 over the next twelve months.

In  addition  to  the  above  elements  of our plan of operations, we will incur
operating  expenses  that  are substantially greater than the operating expenses
incurred  during  2001.  We  estimate that our monthly expenses, including rent,
salaries  and social charges, professional fees and administrative costs will be
approximately  $181,000  per  month.

Based  on  our  stated  plan  of  operations,  we  anticipate that we will spend
approximately  $2,670,000  over  the  next  twelve  months.  Of  this  amount,
approximately  $1,304,500  will  be  incurred over the next six  months. These
expenditures  are  conditional  upon our achieving revenues from sales contracts
that  we have entered into.  If we do not achieve revenues from sales contracts,
we  may  attempt to raise additional financing through sales of our common stock
to  fund our planned business operations.  Our business plan may differ from our
stated  plan  of  operations.  We  may  decide  not to pursue all or part of our
stated  plan  of  operations.  In  addition,  we  may  modify our stated plan of
operations  if  actual costs are greater than anticipated, if we are not able to
achieve financing or if we secure financing in order to expand or accelerate our
plan  of  operations.

We do not have any plans for major fixed asset expenditures over the next twelve
months.

RESULTS  OF  OPERATIONS

Revenues

We  did  not  earn any revenues during either of our fiscal years ended December
31, 2001 and 2000 as we had not completed sales of our water treatment apparatus
during  either of these fiscal years.  We commenced sales of our water treatment
apparatuses  in  the first quarter of 2002.  These initial sales were further to
our  agreement  with  the China Ministry of Health.  Our future revenues will be
dependent  on  our  ability  to  complete  further  sales of our water treatment
apparatuses  and  our  ability  to  complete sales contracts that we are able to
enter  into.

Operating  Expenses

Our  operating  expenses  increased  to  $77,693 for the year ended December 31,
2001,  compared  to  $NIL  for the year ended December 31, 2000.   We anticipate
that our operating expenses will increase as we undertake our plan of operations
for  Technocall  to  establish  and  complete sales of our Blue Industries water
treatment  apparatuses.  We  anticipate that our monthly operating expenses will
increase  approximately  $220,000  as  we  undertake  this  plan  of operations.

Net  Loss

Our net loss increased to $77,693 for the year ended December 31, 2001, compared
to  $NIL  for  the  year  ended  December  31, 2000.  Our net loss comprises
entirely  of  operating  expenses.

LIQUIDITY  AND  FINANCIAL  CONDITION

We  had  cash in the amount of $18,280 as of December 31, 2001, compared to cash
of $NIL as of December 31, 2000.  We had a working capital deficit in the amount
of  $4,030,508 as of December 31, 2001, compared to a working capital deficit in
the  amount  of  $1,130  as  of  December  31,  2000.

                                  Page 17 of 29
<PAGE>

The  principal  component of our working capital deficit as of December 31, 2001
was a loan from Advanced Development Technologies Co. Ltd., one of our principal
shareholders,  in  the  amount of $4,255,660.  This indebtedness was forgiven by
Advanced  Development  effective  April  2,  2002.

We  anticipate  that we will fund our business operations initially from private
placements  of  our  common  stock and subsequently from revenues generated from
sales of our Blue Industries water treatment
apparatuses.  We  completed  sales  of  534,765  shares  of our common stock for
proceeds  of  $957,229  during the first quarter of 2002. Revenues from sales of
products will be contingent upon us completing performance of existing contracts
and  our  ability  to  achieve new sales of products. There is no assurance that
additional sales of our water treatment apparatuses will result in revenues that
will  exceed the increased operating costs that we will incur in proceeding with
our  plan  of  operations  to  increase  sales.

We  will  require  additional  capital  if we are to complete our stated plan of
operations.  Our  plan  of  operations  calls  for  us  to  spend  approximately
$2,670,000  over  the  next twelve months, if we achieve the required financing.
Our current monthly operating expenses are approximately $220,000 per month. Our
current  cash  reserves are approximately $300,000.  We anticipate financing our
plan  of  operations  from  revenues generated from sales contracts for our Blue
Industries  water  treatment  apparatuses that we have entered into to date.  If
cash  flows  from  these  sales  do  not materialize, we will require additional
financing  if  we are to continue as a going concern and to finance our business
operations.  We  anticipate  that any such additional financing would be through
the  sales  of our common stock or placement of convertible debt. We do not have
any  arrangements in place for the sale of any of our securities and there is no
assurance  that  we will be able to raise the additional capital that we require
to  continue  operations.  In  the  event  that  we  do  not realize revenues as
anticipated  or we are unable to raise additional financing on acceptable terms,
then  we  may  have  to  scale  back  our  plan  of  operations  and  operating
expenditures.   We  anticipate  that we will continue to incur losses until such
time  as  the revenues we are able to generate from sales of our products exceed
our  increased  operation  expenses.  We  base  this  expectation in part on the
expectation  that  we  will  incur  substantial  increased operating expenses in
completing  our stated plan of operations and there is no assurance that we will
generate  revenues  that  exceed  these  expenses.

Going  Concern

As  at  December  31,  2001,  we had not recognized revenue and had been
generally  inactive since inception.  Our ability to continue as a going concern
is  contingent  upon  the  successful  completion  of  additional  financing
arrangements,  the commencement of a successful marketing campaign for our water
treatment process and our ability to achieve and maintain profitable operations.
Management  plans  to  finance  the  operating  and  capital requirements of the
Company  from  2002 operations including those derived from two contracts signed
to  date  to  supply  water  treatment  facilities.   Any  shortfall  of amounts
generated  from  operations  will be supplemented by equity financings.  Amounts
raised will be used to further development of our products, to provide financing
for marketing and promotion, to secure additional property and equipment and for
other  working  capital  purposes.  While  we  are expending our best efforts to
achieve  the  above  plans,  there  is  no  assurance  that any such activity or
contract  will  generate sufficient funds that will be available for operations.
These circumstances raise substantial doubt about our ability to continue
as a going concern, as described in an explanatory paragraph to our
independent auditor's opinion on the December 31, 2001 and 2000 consolidated
financial statements, which form part of this report.

CRITICAL  ACCOUNTING  POLICIES

We  believe  the  following  represent  our  critical  accounting  policies:

Revenue  Recognition

Revenue earned on sales contracts is recognized as the units are shipped and
all aspects of performance insofar as delivery and installation are complete,
the price is fixed or determinable and the collection is

                                  Page 18 of 29
<PAGE>

probable.  We consider
all arrangements with payment terms extending beyond 12 months and other
arrangements with payment terms longer than normal not to be considered fixed
or determinable.  If collectibility is not considered probable, revenue will
be recognized when the fee is collected.  Product returns will be reserved
in accordance with Statement of Financial Accounting Standard No. 48. Until
the Company can establish a history of returns, recognition of revenue is
deferred on sales to distributors having right of return privileges until
the return period expires.  Once a reliable return history is created, such
returns will be estimated using historical return rates.

In the future, we expect to offer software arrangements to its customers whereby
the  software  license  would  include  the  rights  to related products such as
upgrades and technical support. In such arrangements, we will allocate the total
cost  of  the  arrangement  among  each deliverable based upon the relative fair
value of each of the deliverables, determined based on vendor-specific objective
evidence  of  fair  value.

Cost  of  revenue  will  include  shipping  and  related  delivery  costs.

Software  Development  Costs

In  accordance with Statement of Financial Accounting Standards ("SFAS") No. 86,
"Accounting  for  the Cost of Computer Software to be Sold, Leased, or Otherwise
Marketed",  development  costs  incurred  in the research and development of new
software  products  are  expensed as incurred until technological feasibility in
the  form  of  a  working  model  has been established. To December 31, 2001, no
amounts  were  capitalized in connection with software development for our water
treatment  process.

NEW  ACCOUNTING  PRONOUNCEMENTS

In  June  1998,  the  Financial  Accounting Standards Board issued SFAS No. 133,
"Accounting  for  Derivative  Instruments and Hedging Activities".  SFAS No. 133
requires  companies  to  recognize  all derivative contracts as either assets or
liabilities  on the balance sheet and to measure them at fair value.  If certain
conditions  are met, a derivative may be specifically designated as a hedge, the
objective  of  which  is  to match the timing of gain or loss recognition on the
hedging  derivative with the recognition of (i) the changes in the fair value of
the  hedged  assets  or  liabilities that are attributable to the hedged risk or
(ii) the earnings effect of the hedged forecasted transaction.  For a derivative
not designated as a hedging instrument, the gain or loss is recognized in income
in  the period of change.  SFAS No. 133 was effective for all quarters of fiscal
years  beginning after June 15, 2000.  Historically, the Company has not entered
into  derivative  contracts  either  to  hedge existing risks or for speculative
purposes.  Accordingly,  adoption  of  the  new  standards  did  not  affect the
Company's  financial  statements.

In  June  2001, the Financial Accounting Standards Board ("FASB") finalized SFAS
Statements  No.  141, Business Combinations (SFAS 141), and No 142, Goodwill and
Other  Intangible  Assets (SFAS 142).  SFAS 141 requires the use of the purchase
method of accounting and prohibits the use of the pooling of interests method of
accounting  for  business  combinations initiated after June 30, 2001.  SFAS 141
also  requires  that the Company recognize acquired intangible assets apart from
goodwill  if  the  acquired  intangible  assets meet certain criteria.  SFAS 141
applies  to  all  business  combinations  initiated  after June 30, 2001 and for
purchase  business  combinations  completed  on  or after July 1, 2001.  It also
requires,  upon  adoption  of SFAS 142, that the Company reclassify the carrying
amounts  of  intangible  assets  and goodwill based on the criteria in SFAS 141.

SFAS  142  requires,  among  other  things,  that  companies  no longer amortize
goodwill,  but  instead  test  goodwill  for  impairment  at least annually.  In
addition,  SFAS  142  requires that the Company identify reporting units for the
purposes  of  assessing  potential  future impairments of goodwill, reassess the
useful  lives  of  other  existing  recognized  intangible  assets,  and  cease
amortization of intangible assets with an indefinite useful life.  An intangible
asset  with  an  indefinite  useful  life  should  be  tested  for impairment in
accordance with the guidance in SFAS 142.  SFAS 142 is required to be applied in
fiscal  years  beginning  after  December  15,  2001  to  all goodwill and other
intangible  assets recognized at that date, regardless of when those assets were
initially  recognized.  SFAS 142 requires the Company to complete a transitional

                                  Page 19 of 29
<PAGE>

goodwill  impairment  test six months from the date of adoption.  The Company is
also required to reassess the useful lives of other intangible assets within the
first  interim  quarter  after  adoption  of  SFAS  142.

The  Company will adopt these standards effective for its fiscal year commencing
January  1,  2002.  Such  adoption  is  not  expected  to  affect  the Company's
financial statements in respect of historical transactions.  Future acquisitions
are  required  to  adhere  to  these  new  standards.

In October 2001, the FASB issued SFAS No. 144, "Accounting for the Impairment or
Disposal  of  Long-Lived  Assets".  SFAS  No. 144 requires that those long-lived
assets  be  measured  at the lower of carrying amount or fair value less cost to
sell,  whether  reported in continuing operations or in discontinued
operations. Therefore, discontinued operations will no longer be measured at net
realizable  value  or  include  amounts  for  operating losses that have not yet
occurred.  SFAS  No. 144 is effective for financial statements issued for fiscal
years  beginning  after  December  15,  2001  and,  generally,  is to be applied
prospectively. The implementation of this new standard is not expected to have a
material  effect  on  the  Company's  financial  statements.


                                  Page 20 of 29
<PAGE>

ITEM  7.     FINANCIAL  STATEMENTS.

Included with this Form 10-KSB are our consolidated financial statements for the
year  ended  December  31,  2001  as  follows:

1.     Independent  Auditors'  Report

2.     Audited  Consolidated Financial Statements for the Periods ended December
       31, 2001  and  December  31,  2000,  including:

a.     Consolidated  Balance  Sheets  as  at  December 31, 2001 and December 31,
       2000.

b.     Consolidated  Statements  of  Operations for the years ended December 31,
       2001  and  December  31,  2000.

c.     Consolidated  Statements of Changes in Capital Deficit for the years
       ended  December  31,  2001  and  December  31,  2000.

d.     Consolidated  Statements  of  Cash Flows for the years ended December 31,
       2001  and  December  31,  2000.

e.     Summary  of  Significant  Accounting  Policies

f.     Notes  to  the  Consolidated  Financial  Statements



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

Not  applicable.




                                  Page 21 of 29


<PAGE>


          Blue  Industries  Inc.
          (formerly  Burrard  Technologies,  Inc.)
          (A  Development  Stage  Company)
          Consolidated  Financial  Statements
          For  the  years  ended  December  31,  2001  and  2000
          (Amounts  expressed  in  US  dollars)



                                                           Contents
-------------------------------------------------------------------------
Independent  Auditors'  Reports

Consolidated  Financial  Statements
     Balance  Sheets
     Statements  of  Operations
     Statements  of  Changes  in  Capital  Deficit
     Statements  of  Cash  Flows
     Summary  of  Significant  Accounting  Policies
     Notes  to  the  Financial  Statements

<PAGE>

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

                                                    Independent Auditors' Report

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

To  the  Directors  and  Stockholders  of
Blue  Industries  Inc.
(formerly  Burrard  Technologies,  Inc.)
We  have  audited  the  Consolidated  Balance  Sheets  of  Blue  Industries Inc.
(formerly  Burrard  Technologies,  Inc.,  a  development  stage  company)  as at
December  31,  2001  and  2000  and  the  Consolidated Statements of Operations,
Changes  in  Capital  Deficit  and  Cash  Flows for the years then ended.  These
financial  statements  are  the responsibility of the Company's management.  Our
responsibility  is  to express an opinion on these financial statements based on
our  audits.

We  conducted  our  audits  in  accordance with United States generally accepted
auditing  standards.  Those  standards require that we plan and perform an audit
to  obtain  reasonable  assurance  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  audits provide a reasonable basis for our
opinion.

In  our  opinion, these consolidated financial statements present fairly, in all
material  respects,  the  financial  position  of Blue Industries Inc. (formerly
Burrard  Technologies,  Inc.)  as  at December 31, 2001 and 2000 and the related
Consolidated Statements of Operations, Changes in Capital Deficit and Cash Flows
for  the  years  then  ended in conformity with United States generally accepted
accounting  principles.

The  accompanying  financial  statements have been prepared assuming the Company
will  continue  as  a going concern.  As discussed in Note 1 to the consolidated
financial  statements,  at  December  31,  2001  and  2000  the  Company did not
recognize  any  revenue.  This  raises  substantial  doubt  about its ability to
continue  as a going concern.  Management's plans in regard to these matters are
described  in Note 1.  These financial statements do not include any adjustments
that  might  result  from  the  outcome  of  this  uncertainty.

/S/ BDO DUNWOODY LLP

Chartered  Accountants

Vancouver,  Canada
March  11,  2002
(except  as  to  Note  7(d),  April  2,  2002)

<PAGE>


<TABLE>
<CAPTION>

                                                         Blue  Industries  Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                                     Consolidated Balance Sheets
                                               (Amounts expressed in US dollars)
December 31                               2001          2000 (a)
--------------------------------------------------------------------------------
<S>                               <C>                   <C>
Assets
Current
  Cash                            $            18,280   $      -
  Prepaid expenses                              2,409
  Parts and supplies                          334,462          -
  Total current assets                        355,151          -
                                  --------------------  ---------
Property and equipment                         76,070          -
Patents                                        13,405          -
                                  --------------------  ---------
Total Assets                      $           444,626   $      -
================================================================================

Liabilities and Capital Deficit

Liabilities
Current
  Accounts payable and
  accrued liabilities             $            73,823   $  1,130
  Due to related party (Note 4)                56,176          -
Note payable (Notes 3 and 7)                4,255,660          -
                                  --------------------  ---------
  Total liabilities                         4,385,659      1,130
                                  --------------------  ---------

Capital Deficit
  Share Capital
    Authorized (Note 7)
      25,000,000 shares
      of common stock, par
      value of
        $0.001 per share
    Issued
        17,662,000 (2000 -
        7,600,000) common shares               17,662      7,600
  Share subscription receivable                     -    (29,940)
  Additional paid-
  in capital (distribution
  of capital)                              (3,853,343)    52,280
  Accumulated other
  comprehensive income -
    foreign exchange
    translation gain                            3,411          -
  Deficit accumulated
  prior to entering the
  development stage                           (31,070)   (31,070)
  Deficit accumulated
  in the development
  stage                                       (77,693)         -
                                  --------------------  ---------
  Total capital deficit                    (3,941,033)    (1,130)
                                  --------------------  ---------
Total Liabilities
and Capital Deficit               $           444,626   $      -
================================================================================
(a) Represents the financial position of Technocall S.A. (Note 2)

</TABLE>


   The accompanying summary of significant accounting policies and notes are an
            integral part of these consolidated financial statements.



<PAGE>

<TABLE>
<CAPTION>
===========================================================================================================
                                                                                     Blue  Industries  Inc.
                                                                      (formerly Burrard Technologies, Inc.)
                                                                              (A Development Stage Company)
                                                                      Consolidated Statements of Operations
                                                                          (Amounts expressed in US dollars)


                                                                              Deficit
                                                                            accumulated  Deficit
                                                                              prior to   Accumu-   Accumu-
                                                                  Additional  entering   lated      lated
                                                                    Paid-in      the     in the     Other
                                                       Share        Capital    Develop-  Develop-   Compre-
                                   Common Shares    Subscription (Distribution   ment      ment    hensive
                                 Shares    Amount    Receivable    of Capital)  Stage     Stage    Income
-----------------------------------------------------------------------------------------------------------
<S>                          <C>        <C>        <C>          <C>           <C>        <C>       <C>
Balance, January 1, 2000          1,000   $ 59,880   $(29,940)  $         -   $(31,070)  $      -  $      -
                                                                              -----------------------------
Net loss for the year                 -          -          -             -          -          -         -

Foreign exchange translation
 gains                                -          -          -             -          -          -         -
                                                                              -----------------------------
  Total comprehensive loss                                                           -         -          -
                             ------------------------------------------------------------------------------
Balance, December 31, 2000        1,000     59,880    (29,940)            -    (31,070)         -         -

Adjustment for the issuance
 of common stock on
 recapitalization (Note 2)    7,599,000    (52,280)         -        52,280          -          -         -
                             ------------------------------------------------------------------------------
                              7,600,000      7,600    (29,940)       52,280    (31,070)         -         -
Collection of subscriptions
 receivable                           -          -      29,940            -          -          -         -

Distribution on acquisition
 of assets from a related
 party (Note 3)                       -          -           -   (3,864,563)         -          -         -

Settlement of debt from
 related party (Note 3)               -          -           -       31,070          -          -         -

Adjustment to the stock-
 holders' equity of the
 Company at the acquisi-
 tion date (Note 2)          10,062,000     10,062            -     (72,130)         -          -         -
                             ------------------------------------------------------------------------------
                             17,662,000     17,662            -  (3,853,343)   (31,070)         -         -
                                                                              -----------------------------
Net loss for the year                 -          -            -           -          -    (77,693)        -

Foreign exchange translation
 gains                                -          -            -           -          -          -     3,411
                                                                              -----------------------------
  Total comprehensive loss                                                           -    (77,693)    3,411
                             ------------------------------------------------------------------------------
Balance, December 31, 2001   17,662,000   $ 17,662   $        - $(3,853,343)  $(31,070)  $(77,693) $  3,411
===========================================================================================================


                                        Total
                                       Capital
                                       Deficit
                                     ------------
<S>                                  <C>
Balance, January 1, 2000             $    (1,130)
                                     ------------

Net loss for the year                          -

Foreign exchange translation gains             -
                                     ------------
  Total comprehensive loss                     -
                                     ------------
Balance, December 31, 2000                (1,130)

Adjustment for the issuance
 of common stock on
 recapitalization (Note 2)                     -
                                     ------------
                                          (1,130)
Collection of subscriptions
 receivable                               29,940

Distribution on acquisition
 of assets from a related
 party (Note 3)                       (3,864,563)

Settlement of debt from
 related party (Note 3)                   31,070

Adjustment to the stockholders'
 equity of the Company at the
 acquisition date (Note 2                (62,068)
                                     ------------
                                      (3,866,751)
                                     ------------
Net loss for the year                    (77,693)

Foreign exchange translation gains         3,411
                                     ------------
  Total comprehensive loss               (74,282)
                                     ------------
Balance, December 31, 2001           $(3,941,033)
=================================================
</TABLE>





   The accompanying summary of significant accounting policies and notes are an
            integral part of these consolidated financial statements.

<PAGE>

<TABLE>
<CAPTION>
================================================================================
                                                         Blue  Industries  Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                           Consolidated Statements of Operations
                                               (Amounts expressed in US dollars)

For the years ended December 31            2001         2000 (a)
--------------------------------------------------------------------------------
<S>                                     <C>          <C>
Revenue                                 $        -   $         -
                                        -----------  ------------

Expenses
  Professional fees                         73,769             -
  General administrative costs               3,701             -
  Other                                        223             -
                                        -----------  ------------
Total expenses                              77,693             -
                                        -----------  ------------
Net loss for the year                   $  (77,693)  $         -
=================================================================
Loss per share                          $    (0.01)  $         -
=================================================================
Weighted average
shares outstanding                       7,958,373     7,600,000
=================================================================

(a) Represents the results of operations of Technocall S.A. (Note 2)

</TABLE>


   The accompanying summary of significant accounting policies and notes are an
            integral part of these consolidated financial statements.



<PAGE>
<TABLE>
<CAPTION>
================================================================================
                                                         Blue  Industries  Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                           Consolidated Statements of Cash Flows
                                               (Amounts expressed in US dollars)

For the years ended December 31            2001      2000 (a)
--------------------------------------------------------------------------------
<S>                                     <C>          <C>
                                        -------------------------
Cash provided by (used in)
Operating activities
  Net loss for the year                 $  (77,693)  $       -
  Adjustments to reconcile net
   loss to cash
   used in operating
   activities
  Increase in liabilities
   Accounts payable and
    accrued liabilities                     64,282           -
                                        -------------------------
   Cash used in operating activities       (13,411)          -
                                        -------------------------
Investing activity
  Cash balance in Burrard
   on recapitalization                          110          -
                                        -------------------------
  Cash provided by
   investing activity                           110          -
                                        -------------------------
Financing activity
  Proceeds on share
  subscriptions receivable                   31,581          -
                                        -------------------------
Cash provided by
financing activity                           31,581          -
                                        -------------------------
Increase in cash                             18,280          -
                                        -------------------------
Cash, beginning of year                           -          -
                                        -------------------------
Cash, end of year                       $    18,280   $      -
=================================================================
Supplementary Information:
  Interest and taxes paid               $         -   $      -
Non-cash investing and
   financing activities
  Net liabilities of the Company
   on recapitalization (Note 2)         $    62,068   $      -
  Forgiveness of debt (Note 3)          $    31,070   $      -
  Acquisition of assets
   and corresponding
   distribution in exchange
   for subordinated
   note (Note 3)                        $  4,288,500   $     -
=================================================================

(a) Represents the cash flows of Technocall S.A. (Note 2)

</TABLE>


   The accompanying summary of significant accounting policies and notes are an
            integral part of these consolidated financial statements.

<PAGE>
================================================================================
                                                            Blue Industries Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                      Summary of Significant Accounting Policies
                                               (Amounts expressed in US dollars)
December  31,  2001  and  2000
--------------------------------------------------------------------------------
Basis of Presentation

These  consolidated  financial  statements,  which  include  the accounts of the
Company  and  its  wholly owned subsidiary (Technocall S.A. - "Technocall"), are
stated  in  US dollars and are prepared in accordance with US generally accepted
accounting principles. All intercompany balances and transactions are eliminated
on  consolidation.

In accordance with provisions governing the accounting for reverse acquisitions,
the  figures  presented  for  the  year  ended  December  31,  2000 are those of
Technocall  S.A.

The  Company  is  currently  in the development stage and presents its financial
statements  in  accordance  with  Statement  of  Financial  Accounting Standards
("SFAS")  No.  7,  "Accounting  and Reporting by Development Stage Enterprises".
During  the  period  from  Technocall's  inception  in  1992  to September 2001,
Technocall  was  inactive.  Total expenses during this period were $31,070. With
the  acquisition  of  assets  in  September  2001  (Note 3), the Company has now
entered  the  development  stage. Expenses incurred while the Company was in the
development  stage  have  totalled  $77,693  to  December  31,  2001.

Property  and  Equipment

Property  and  equipment,  consisting of machinery and equipment, is recorded at
cost  for  the Company and is depreciated over its estimated useful life of five
years  commencing  in the period the assets are put into service, expected to be
2002.

Patents

Patents  are  recorded  at  cost and are amortized on a straight-line basis over
five  years  (the estimated useful life of the patents) commencing in the period
the  patents  are  put  into  service, expected to be 2002. No residual value is
expected  at  the  end  of  the  patents  useful  life.

Foreign  Currency  Translation

As a Swiss company operating in Switzerland, Technocall's functional currency is
the  Swiss  franc.  Assets and liabilities of Technocall have been translated at
the  exchange  rate in effect at the year end date while expenses are translated
at  the average exchange rate for the period. Gains or losses on translation are
deferred  as  a  separate  component  of  capital  deficit.

<PAGE>

================================================================================
                                                            Blue Industries Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                      Summary of Significant Accounting Policies
                                               (Amounts expressed in US dollars)
December  31,  2001  and  2000
--------------------------------------------------------------------------------
Use  of Estimates

The  preparation  of  financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect  the  reported  amounts  of  assets  and  liabilities  and  disclosure of
contingent  assets  and  liabilities  at  the date of the consolidated financial
statements  and  the  recognized  amounts  of  revenues  and expenses during the
reporting  period.  Actual  results  could  differ  from  those  estimates.

Software  Development  Costs

In accordance with SFAS No. 86, "Accounting for the Cost of Computer Software to
be  Sold,  Leased,  or  Otherwise  Marketed",  development costs incurred in the
research and development of new software products are expensed as incurred until
technological  feasibility  in the form of a working model has been established.

To  December  31,  2001, no amounts were capitalized in connection with software
development  for the Company's water treatment process. Income Taxes The Company
follows  the  provisions of Statement of Financial Accounting Standards ("SFAS")
No.  109, "Accounting for Income Taxes", which requires the Company to recognize
deferred  tax liabilities and assets for the expected future tax consequences of
events  that  have  been  recognized  in  the  Company's  consolidated financial
statements  or  tax  returns  using  the  liability  method.  Under this method,
deferred  tax  liabilities  and  assets  are  determined  based on the temporary
differences  between  the  financial statement carrying amounts and tax bases of
assets  and  liabilities using enacted tax rates in effect in the years in which
the  differences  are  expected  to  reverse.

Comprehensive  Income

The  Company  has  adopted SFAS No. 130, "Reporting Comprehensive Income", which
establishes  standards  for  reporting  and display of comprehensive income, its
components  and accumulated balances. The Company is disclosing this information
on  its  Statement  of  Changes  in  Capital  Deficit.  Comprehensive  income is
comprised  of  net income (loss) and all changes to capital deficit except those
resulting  from  investments  by  owners  and  distribution  to  owners.

<PAGE>

================================================================================
                                                            Blue Industries Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                      Summary of Significant Accounting Policies
                                               (Amounts expressed in US dollars)
December  31,  2001  and  2000
--------------------------------------------------------------------------------

Impairment  of Long-Lived Assets

The  Company  evaluates  the  recoverability  of  its property and equipment and
patents  in  accordance  with  SFAS  No.  121, "Accounting for the Impairment of
Long-Lived  Assets  to  be  Disposed  of".  SFAS  121  requires  recognition  of
impairment  of  long-lived assets in the event the net book value of such assets
exceeds the estimated undiscounted cash flows attributable to such assets or the
business  to  which  such  assets  relate.

Fair  Value  of  Financial  Instruments

The  carrying  value  of  the  Company's  financial instruments, including cash,
accounts  payable  and  amounts  due  to a related party approximates their fair
values  due  to  the  short-term  nature  of  these  financial  instruments.

The  fair  value of the note payable to a former Technocall stockholder (Notes 3
and 7) was not practicable to determine. Loss Per Share Basic loss per share has
been  computed  by  dividing  the  loss  for  the  year applicable to the common
stockholders  by the weighted average number of common shares outstanding during
the  years.  There were no common equivalent shares outstanding during the years
covered  by  these  financial  statements.

Loss  per  share has been retroactively restated to reflect the recapitalization
(Note  2).

Revenue  Recognition

In  2002,  the  Company has entered into sales contracts with companies in China
and  Thailand to supply units containing the Blue water treatment process having
contract  values of 15 million Euros and $850,000, respectively. To December 31,
2001,  the  Company has recognized no revenue. Revenue earned on these contracts
will  be  recognized  as  the  units  are shipped and all aspects of performance
insofar  as  delivery  and  installation  are  complete,  the  price is fixed or
determinable  and  the  collection  is  probable.  The  Company  considers  all
arrangements  with  payment  terms  extending  beyond  12  months  and  other
arrangements with payment terms longer than normal not to be considered fixed or
determinable.  If  collectibility  is  not  considered probable, revenue will be
recognized  when  the  fee  is  collected.  Product  returns will be reserved in
accordance  with  SFAS  No.  48.  Until  the  Company can establish a history of
returns,  recognition  of  revenue  is  deferred on sales to distributors having
right  of  return  privileges  until  the return period expires. Once a reliable
return  history  is  created,  such  returns  will be estimated using historical
return  rates.

<PAGE>

================================================================================
                                                            Blue Industries Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                      Summary of Significant Accounting Policies
                                               (Amounts expressed in US dollars)
December  31,  2001  and  2000
--------------------------------------------------------------------------------

Revenue  Recognition - Continued

In  the  future,  the  Company  expects  to  offer  software arrangements to its
customers  whereby  the  software  license  would  include the rights to related
products  such  as  upgrades  and  technical  support. In such arrangements, the
Company  will  allocate the total cost of the arrangement among each deliverable
based upon the relative fair value of each of the deliverables, determined based
on  vendor-specific  objective  evidence  of  fair  value.

Cost  of  revenue  will  include  shipping  and  related  delivery  costs.

On  February  1, 2002 the Company also entered into a joint venture of which the
Company  holds  a 46% interest. Upon formation of the joint venture, the Company
licensed the joint venture the water treatment technology for territories in the
Middle  East,  North Africa and Iran. The co-venturer contributed cash and other
working  capital  to  the  joint  venture. As consideration for contributing the
license, the Company will receive from the joint venture a fee of $1 million and
a  10%  royalty  on  sales  of  water  treatment  units.

Segment Reporting

SFAS  No.  131,  "Disclosures  about  Segments  of  an  Enterprise  and  Related
Information",  established  standards  for reporting information about operating
segments  in  financial statements. Operating segments are defined as components
of an enterprise about which separate financial information is available that is
evaluated  regularly  by  the chief operating decision maker, or decision making
group,  in  deciding how to allocate resources and in assessing performance. The
Company's  chief  operating  decision  maker is the Chief Executive Officer. The
Company  operates  as  one  business  segment.


New  Accounting  Pronouncements

In  June  1998,  the  Financial  Accounting Standards Board issued SFAS No. 133,
"Accounting  for  Derivative  Instruments  and Hedging Activities". SFAS No. 133
requires  companies  to  recognize  all derivative contracts as either assets or
liabilities  on  the balance sheet and to measure them at fair value. If certain
conditions  are met, a derivative may be specifically designated as a hedge, the
objective  of  which  is  to match the timing of gain or loss recognition on the
hedging  derivative with the recognition of (i) the changes in the fair value of
the  hedged  assets  or  liabilities that are attributable to the hedged risk or
(ii)  the earnings effect of the hedged forecasted transaction. For a derivative
not designated as a hedging instrument, the gain or loss is recognized in income
in  the  period of change. SFAS No. 133 was effective for all quarters of fiscal
years  beginning  after  June  15,  2000.

<PAGE>

================================================================================
                                                            Blue Industries Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                      Summary of Significant Accounting Policies
                                               (Amounts expressed in US dollars)
December  31,  2001  and  2000
--------------------------------------------------------------------------------
New  Accounting Pronouncements - Continued


Historically,  the  Company  has not entered into derivative contracts either to
hedge  existing  risks or for speculative purposes. Accordingly, adoption of the
new  standards  did  not  affect  the  Company's  financial  statements.

In  June  2001, the Financial Accounting Standards Board ("FASB") finalized SFAS
Statements  No.  141, Business Combinations (SFAS 141), and No 142, Goodwill and
Other  Intangible  Assets  (SFAS 142). SFAS 141 requires the use of the purchase
method of accounting and prohibits the use of the pooling of interests method of
accounting  for  business  combinations  initiated after June 30, 2001. SFAS 141
also  requires  that the Company recognize acquired intangible assets apart from
goodwill  if  the  acquired  intangible  assets  meet certain criteria. SFAS 141
applies  to  all  business  combinations  initiated  after June 30, 2001 and for
purchase  business  combinations  completed  on  or  after July 1, 2001. It also
requires,  upon  adoption  of SFAS 142, that the Company reclassify the carrying
amounts  of  intangible  assets  and goodwill based on the criteria in SFAS 141.

SFAS  142  requires,  among  other  things,  that  companies  no longer amortize
goodwill,  but  instead  test  goodwill  for  impairment  at  least annually. In
addition,  SFAS  142  requires that the Company identify reporting units for the
purposes  of  assessing  potential  future impairments of goodwill, reassess the
useful  lives  of  other  existing  recognized  intangible  assets,  and  cease
amortization  of intangible assets with an indefinite useful life. An intangible
asset  with  an  indefinite  useful  life  should  be  tested  for impairment in
accordance  with the guidance in SFAS 142. SFAS 142 is required to be applied in
fiscal  years  beginning  after  December  15,  2001  to  all goodwill and other
intangible  assets recognized at that date, regardless of when those assets were
initially  recognized.  SFAS 142 requires the Company to complete a transitional
goodwill  impairment  test  six months from the date of adoption. The Company is
also required to reassess the useful lives of other intangible assets within the
first  interim  quarter  after  adoption  of  SFAS  142.

The  Company will adopt these standards effective for its fiscal year commencing
January 1, 2002. Such adoption is not expected to affect the Company's financial
statements in respect of historical transactions. Additional future acquisitions
are  required  to  be  accounted  for  in  accordance  with these new standards.

<PAGE>

================================================================================
                                                            Blue Industries Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                      Summary of Significant Accounting Policies
                                               (Amounts expressed in US dollars)
December  31,  2001  and  2000
--------------------------------------------------------------------------------
New  Accounting  Pronouncements - Continued

In October 2001, the FASB issued SFAS No. 144, "Accounting for the Impairment or
Disposal  of  Long-Lived  Assets".  SFAS  No. 144 requires that those long-lived
assets  be  measured  at the lower of carrying amount or fair value less cost to
sell,  whether  reported in continuing operations or in discontinued operations.
Therefore,  discontinued operations will no longer be measured at net realizable
value  or  include amounts for operating losses that have not yet occurred. SFAS
No.  144 is effective for financial statements issued for fiscal years beginning
after  December  15,  2001  and,  generally, is to be applied prospectively. The
implementation of this new standard is not expected to have a material effect on
the  Company's  financial  statements.

<PAGE>

================================================================================
                                                            Blue Industries Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                  Notes to the Consolidated Financial Statements
                                               (Amounts expressed in US dollars)
December  31,  2001  and  2000
--------------------------------------------------------------------------------
1.     Nature  of  Business  and  Ability  to  Continue  Operations

The  Company  was incorporated under the laws of the State of Nevada on April 5,
2000  as  Burrard  Technologies,  Inc.  ("Burrard") and was involved in software
development.  During 2001, the Company discontinued the software development and
became  inactive  until  December  18,  2001 when it acquired all the issued and
outstanding  shares of Technocall S.A. ("Technocall"), a Swiss company. (Note 2)
Technocall  was  inactive  until  September 2001 when it acquired all the assets
(including  parts  and  supplies, machinery and equipment and computer software)
comprising  the  Blue  Industries  water  treatment  process  to  be marketed to
government and non-government organizations in Asia, Africa and the Middle East.
(Note  3)  The  Blue  Industries  water treatment process enables the Company to
develop  water  treatment  apparatuses  that  achieve  results  in the fields of
wastewater  treatment,  farm produce industry water treatment and drinking water
potabilization.  A proprietary micro-calculator and electronic management system
that  regulates  and  controls  the  water  treatment  process  manage the water
treatment  apparatuses  that  the  Company  has developed. On April 2, 2002, the
Company  changed  its  legal  name  to  Blue  Industries  Inc.

These  financial  statements have been prepared in accordance with United States
generally  accepted  accounting  principles  applicable to a going concern which
contemplates  the  realization of assets and the satisfaction of liabilities and
commitments  in  the  normal  course  of  business. As at December 31, 2001, the
Company has not recognized revenue and was generally inactive from its inception
through  December 31, 2001. The Company's ability to continue as a going concern
is  contingent  upon the commencement of a successful marketing campaign for its
water  treatment  process,  its  ability  to  achieve  and  maintain  profitable
operations and the successful completion of additional financing arrangements if
necessary.  Subsequent  to  December  31,  2001,  the Company raised $957,229 in
private  placement  transactions.  Management  plans  to  finance the additional
operating  and  capital  requirements  of  the  Company from 2002 operations. In
connection  therewith,  the  Company  has  signed contracts in 2002 with various
companies in Asia to supply water treatment facilities. Any shortfall of amounts
generated  from  operations  will  be supplemented by equity financings. Amounts
raised  will  be  used  for  further  development  of the Company's products, to
provide financing for marketing and promotion, to secure additional property and
equipment and for other working capital purposes. While the Company is expending
its best efforts to achieve the above plans, there is no assurance that any such
activity  or  contract will generate sufficient funds that will be available for
operations.

These conditions raise substantial doubt about the Company's ability to continue
as  a  going  concern.  The  Company's  financial  statements do not include any
adjustments  related  to the recoverability and classification of recorded asset
amounts  or  the amounts and classification of liabilities that may be necessary
should  the  Company  be  unable  to  continue  in  existence.

<PAGE>

================================================================================
                                                            Blue Industries Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                  Notes to the Consolidated Financial Statements
                                               (Amounts expressed in US dollars)
December  31,  2001  and  2000
--------------------------------------------------------------------------------
2.     Recapitalization

On  December  18, 2001, the Company closed an agreement with the stockholders of
Technocall whereby the Company acquired all the issued and outstanding shares of
Technocall in exchange for 7.6 million shares of the Company's common stock. The
acquisition  was  accounted  for  using  the  purchase  method  of accounting as
applicable to reverse acquisitions because the former stockholders of Technocall
controlled  approximately  43%  of  the  Company's common stock immediately upon
conclusion  of  the  transaction,  representatives  of  Technocall  are  now the
Company's  sole  directors  and  officers and the continuing business is that of
Technocall.  Under  reverse  acquisition accounting, the post-acquisition entity
will  be  accounted  for  as a recapitalization of Technocall. A distribution of
$62,068  was  recorded in connection with the common stock issued by the Company
for  the  acquisition  of  Technocall  in  respect  of the carrying value of the
Company's  net liabilities (consisting primarily of accounts payable and amounts
due  to  a  stockholder)  at  the  acquisition  date.

Immediately  prior  to  the  acquisition  of Technocall, two stockholders of the
Company  surrendered 7,125,000 common shares to the Company for cancellation. No
consideration  was  paid  on  redemption  of  these  shares.

Unaudited  Pro-forma  revenue,  net  loss  and  loss  per  share  assuming  the
transaction  had  been  completed  on  January  1,  2000  is  as  follows:

                                                  2001          2000
                                              ----------------------------
                                  Revenue     $       -     $     -
                  Net loss for the period     $(140,584)    $     (99,173)
                           Loss per share     $   (0.01)    $     (0.01)

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

3.     Acquisition  of  Water  Treatment  Technology  and  Related  Assets
In  September  2001,  Technocall  acquired  from  a  50% Technocall stockholder,
software,  patents,  property  and  equipment  and  parts and supplies inventory
comprising  the  Blue  Industries  water  treatment  process  in  exchange for a
subordinated  note payable in the amount of $4,288,500. The debt is subordinated
against  future  indebtedness  of  the Company and is unsecured and non-interest
bearing  with  no  specific  terms  of  repayment  (Note  7).  Subsequent to the
acquisition,  this  stockholder agreed to forgive $31,070 of the note payable in
respect  of  previous  expenses  incurred  by  Technocall.  The  forgiveness was
recorded  as  a  reduction  in  the  distribution  of  capital.

<PAGE>

================================================================================
                                                            Blue Industries Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                  Notes to the Consolidated Financial Statements
                                               (Amounts expressed in US dollars)
December  31,  2001  and  2000
--------------------------------------------------------------------------------
3.     Acquisition  of Water Treatment Technology and Related Assets - Continued

Because the acquisition was from a significant Technocall stockholder, the value
assigned  to  the assets acquired represents the carrying value of the assets to
the  significant  stockholder  at  the  date  of  acquisition of $423,937 and is
allocated  as  follows:
                                              Agreed amount          As Reported
                                              ----------------------------------
                          Parts and supplies     $     586,753     $   334,462
                          Property and equipment        89,475          76,070
       Patents and software development costs        3,612,272          13,405
                                              ----------------------------------
                                                 $   4,288,500     $   423,937
                                              ==================================

The  difference  between the agreed amount of the note payable recorded in these
consolidated  financial  statements  and  the  value  assigned  to  the  assets
transferred  from the stockholder of $3,864,563 is recorded as a distribution of
capital  in  these  financial  statements.

4.     Due  to  Related  Party

Amounts  due  to  a  former  director  and officer of the Company are unsecured,
non-interest  bearing  and  due  on  demand.

5.     Economic  Dependence

The Company's success in relation to its water treatment process is dependent on
the  good  working relationship it can maintain with certain key suppliers whose
products  are  integral  to  the  performance  of  the  water  treatment system.

6.     Income  Taxes

The  tax  effects  of  temporary  differences  that  give  rise to the Company's
deferred  tax  asset  are  as  follows:
                                                         2001          2000
                                                   ------------------------
                         Tax loss carryforward     $     79,900     $     -
                           Valuation allowance          (79,900)          -
                                                   ------------------------
                                                   $          -     $     -
                                                   ========================
<PAGE>

================================================================================
                                                            Blue Industries Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                  Notes to the Consolidated Financial Statements
                                               (Amounts expressed in US dollars)
December  31,  2001  and  2000
--------------------------------------------------------------------------------
6.     Income  Taxes  -  Continued

Deferred  income  tax  assets  and  the  related  valuation allowance of Burrard
totalled  $55,100  at  the  date  of  recapitalization.

The  provision  for  income  taxes  differs  from the amount estimated using the
federal  US  statutory  income  tax  rate  as  follows:
                                                     2001          2000
                                                   ------------------------
     Provision (benefit) at federal statutory rate $ (26,400)     $       -
     Effect of taxation in a foreign jurisdiction      1,600              -
                 Increase in valuation allowance      24,800              -
                                                   ------------------------
                                                   $       -      $       -
                                                   ========================


The  Company  evaluates  its valuation allowance requirements based on projected
future  operations.  When  circumstances  change  and  this  causes  a change in
management's  judgement  about  the  recoverability  of deferred tax assets, the
impact  of the change on the valuation allowance is reflected in current income.

At  December  31,  2001,  the  Company  had  estimated losses carried forward of
approximately  $15,000  available  to  reduce  future Swiss taxable income until
expiry  in  2008  and  approximately  $224,000  (relating  to losses of Burrard)
available  to  reduce  future  US  taxable income until expiry in 2020 and 2021.

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

7.     Subsequent  Events

     a)     In  March  2002, the Company's stockholders approved a change to the
Company's authorized share capital to increase the authorized common stock to 50
million  shares (par value of $0.001 per share) and to authorize the creation of
100  million  shares  of  preferred  stock  (par  value  of  $0.001  per share).

     b)     In  March 2002, the Company issued 534,765 shares of common stock in
connection with a private placement for gross proceeds of $957,229, the majority
of  which  is  to  be  used  for  the  purchase  of  inventory.

<PAGE>
================================================================================
                                                            Blue Industries Inc.
                                           (formerly Burrard Technologies, Inc.)
                                                   (A Development Stage Company)
                                  Notes to the Consolidated Financial Statements
                                               (Amounts expressed in US dollars)
December  31,  2001  and  2000
--------------------------------------------------------------------------------
7.     Subsequent  Events  -  Continued

     c)     On February 6, 2002, the Company completed an agreement to acquire a
manufacturing  and  marketing licence for a wastewater purification device.  The
licence covers various countries in the Middle East and North Africa and expires
in  February  2012,  subject  to renewal.  In consideration for the licence, the
licensor  was  entitled to a royalty equal to 10% of sales of water purification
devices  by  the  Company, subject to a minimum royalty payment of $1,500,000 in
each  quarter,  for  a  minimum  annual royalty of $6,000,000.   The Company was
granted the option to redeem the royalties with one single payment corresponding
to two annual royalty payments provided this payment was made by March 30, 2002.
          The  Company  entered  into  a  further agreement with the licensor (a
company  with a common director) whereby it agreed to issue 9,000,000 restricted
shares of its common stock to the licensor in consideration for the reduction of
royalties  payable  on  sales  of  products  incorporating  the  licensed patent
pursuant  to  the patent license contract with the licensor.  This agreement was
subsequently  cancelled.  The  Company did not issue the 9,000,000 shares to the
licensor  and  the  royalty remains as a royalty of 10% of sales.   The licensor
has  offered  to  waive  the  minimum  annual  royalty  under the patent license
contract  in  exchange  for  making  the  license  rights  non-exclusive.

     d)     On  April  2,  2002,  the  noteholder (Note 3) agreed to forgive the
balance  owing  on  the  note  payable.  The  forgiveness  will be recorded as a
reduction  to  the distribution of capital and additional paid-in capital in the
Company's  2002  consolidated  financial  statements.

     e)     The  Company  entered  into  various  lease  agreements for premises
requiring  aggregate  monthly  minimum  lease payments of $7,960 for a period of
three  years.  The  leases  are cancellable at the Company's option with 90 days
written  notice.


<PAGE>

                                    PART III

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

Our  executive  officers and directors and their respective ages as of April 11,
2002  are  as  follows:

DIRECTORS:

Name  of  Director     Age
------------------     ---
Fernand  Leloroux      63
Cyril  Heitzler        33

OFFICERS:

Name  of  Officer      Age    Office  Held
-----------------      ---    ------------
Fernand  Leloroux      63     President  and  Chief  Financial  Officer
Cyril  Heitzler        33     Secretary

Set forth below is a brief description of the background and business experience
of  each  of  our  executive  officers  and  directors  for the past five years:

Mr.  Leloroux  is  currently  one  of  our directors and our president and chief
financial  officer.  Mr.  Leloroux  was appointed as one of our directors and as
our  president  and  chief financial officer on December 17, 2001.  Mr. Leloroux
received  his  law  degree from the National Insurance School of France in 1957.
Mr. received his bachelor's degree in philosophy in 1953.  Mr. Leloroux has been
a director and the chief financial officer of Cartis Inc., a company involved in
the  treatment  of  water,  since  April  2001.  Effective February 1, 2002, Mr.
Leloroux  no  longer  devotes  a substantial portion of his business time to the
business  of  Cartis.  Mr.  Leloroux was one of the co-founders of International
Business  Trading  SA,  a Swiss company specializing in business, industrial and
financial  engineering, management and debt collection, company domicilation and
the  import  and  export  of  goods, in 1998.  Mr. Leloroux has been involved in
International  Business  Trading  S.A.  since 1998.  Mr. Leloroux was one of the
co-founders  of  R.M.J. Conseils S.A., a Swiss company specializing in insurance
and  reinsurance  consulting  services,  in 1994.   Mr. Leloroux was chairman of
R.M.J.  Conseils  S.A.  from  1994  to  1998.

Mr.  Heitzler is currently one of our directors and our secretary.  Mr. Heitzler
was appointed as one of our directors and as our secretary on December 17, 2001.
Mr.  Heitzler received his qualification in production engineering in 1991.  Mr.
Heitzler  is  currently the industrial director of Cartis Group Inc., a position
that he has held since 2000.  Effective February 1, 2002, Mr. Heitzler no longer
devotes  a  substantial  portion of his business time to the business of Cartis.
Mr. Heitzler was previously technical director of Cartis International Ltd. from
1998  to  2000  where he was involved in the design and pre-industrialization of
water treatment stations.  Mr. Heitzler was technical director of Tedeco Ltd., a
company  involved  in the design of domestic water treatment stations, from 1995
to  1999.  Mr.  Heitzler was a manager for SARL CEFCA, a manufacturer of powders
for  Cartis,  since  1997.

                                  Page 22 of 29
<PAGE>

COMPLIANCE  WITH  SECTION  16(a)  OF  THE  SECURITIES  EXCHANGE  ACT
--------------------------------------------------------------------

Section  16(a) of the Exchange Act requires the Company's executive officers and
directors,  and  persons  who  beneficially  own  more  than  ten percent of the
Company's  equity  securities,  to  file  reports  of  ownership  and changes in
ownership  with  the Securities and Exchange Commission. Officers, directors and
greater  than ten percent shareholders are required by SEC regulation to furnish
the  Company  with  copies  of  all  Section 16(a) forms they file. Based on its
review  of  the  copies  of such forms received by it, the Company believes that
during  the  fiscal  year  ended  December 31, 2001 all such filing requirements
applicable  to  its  officers  and  directors  were complied with exception that
reports  were  filed  late  by  the  following  persons:

--------------------------------------------------------------------------------
                                  Number      Transactions    Known Failures
Name  and                         of Late     Not Timely      to file a
principal  position               Reports     Reported        Required  Form
--------------------------------------------------------------------------------
Fernand Leloroux, Director          One          None               None
President

Cyril  Heitzler,  Director          One          None               None
Secretary

William  Robertson,                 Two          None               None
Former  Director  and  Former
President

Nick  Sirsiris,                     Two          None               None
Former  Director  and  Former
Secretary  and  Treasurer
--------------------------------------------------------------------------------

                                  Page 23 of 29
<PAGE>


ITEM  10.     EXECUTIVE  COMPENSATION.

COMPENSATION  OF  EXECUTIVE  OFFICERS

The  following  table sets forth certain information as to the Company's highest
paid  executive  officers  and  directors  for  the Company's fiscal years ended
December  31,  2001,  2000  and 1999. No other compensation was paid to any such
officer  or  directors  other  than  the  compensation  set  forth  below.

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

                           ANNUAL  COMPENSATION  TABLE

--------------------------------------------------------------------------------
                         ANNUAL COMPENSATION       LONG TERM COMPENSATION
                    ----------------------------  ------------------------
                                          Other                             All
                                          Annual                           Other
                                            Com-  Restric-                  Com-
                                            pen-  ted     Warrants          pen-
                                            sa-   Stock   &       LTIP      sa-
Name      Title      Year  Salary  Bonus    tion  Awarded Options payouts($)tion
----      -----      ----  ------  ------ ------- ------- ------- --------- ----
FERNAND   Director   2001   $0      0           0       0      0         0     0
LELOROUX  and        2000   $0      0           0       0      0         0     0
(1)       President  1999   $0      0           0       0      0         0     0
          and Chief
          Financial
          Officer


CYRIL     Director,  2001   $0      0           0       0      0         0     0
HEITZLER  Secretary  2000   $0      0           0       0      0         0     0
(2)       and        1999   $0      0           0       0      0         0     0
          Treasurer

WILLIAM   Former     2001   $0      0           0       0      0         0     0
ROBERTSON President  2000   $0      0           0       0      0         0     0
(3)       and Former 1999   $0      0           0       0      0         0     0
          President




Notes:
(1)     Mr.  Leloroux  was appointed as our President and a director on December
        17,  2001.
(2)     Mr.  Heitzler  was appointed as our Secretary and a director on December
        17,  2001.
(3)     Mr.  Robertson  resigned as our President and a director on December 17,
        2001.

STOCK  OPTION  GRANTS

We  did  not  grant  any stock options to the executive officers during our most
recent  fiscal year ended December 31, 2001.  We have also not granted any stock
options  to  the  executive  officers  since  December  31,  2001.

EXERCISES  OF  STOCK  OPTIONS  AND  YEAR-END  OPTION  VALUES

No  stock options were exercised by our officers, directors and employees during
the  financial  year  ended  December  31,  2001.  No  stock  options  have been
exercised  since  December  31,  2001.

OUTSTANDING  STOCK  OPTIONS

We  do  not  have  any  stock  options  outstanding.

COMPENSATION  ARRANGEMENTS

Commencing February 1, 2002, we  pay Mr. Fernand Leloroux, our president and a
director, a salary of $110,000 per  annum.  We  are  not  party  to any written
compensation agreement with Mr. Leloroux.  We do not pay Mr. Leloroux any
additional amount in consideration for Mr.  Leloroux  acting  as  one  of  our
directors.

                                  Page 24 of 29
<PAGE>

Commencing February 1, 2002, we  pay Mr. Cyril Heitzler, our secretary and a
director, a salary of $80,000 per annum.  We  are  not  party  to  any
written  compensation  agreement  with Mr. Heitzler.  We do not pay Mr.
Heitzler any additional amount in consideration for Mr.  Heitzler  acting  as
one  of  our  directors.

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

The  following  table  sets  forth  certain information concerning the number of
shares  of our common stock owned beneficially as of April 11, 2002 by: (i) each
of  the  former  shareholders  of  Technocall,  (ii)  each  of  our officers and
directors,  and  (iii)  officers  and  directors  as  a  group. Unless otherwise
indicated, the shareholders listed possess sole voting and investment power with
respect  to  the  shares  shown.
<TABLE>
<CAPTION>

-------------------------------------------------------------------------------
                                                                     Percentage
                       Name and address            Number of Shares  of Common
Title of Class         of beneficial owner         of Common Stock   Stock(1)
-------------------------------------------------------------------------------

<S>                    <C>                         <C>               <C>
5% SHAREHOLDERS

Common Stock           Advanced Technologies       3,800,000 Shares  20.9%
                       Development Co. Ltd.
                       POB 472 and 504
                       50 Town Range, Gibraltar

Common Stock           Rocasoprane Ltd.            2,538,400 Shares  13.9%
                       Calle 55 El Cangrejo
                       Panama City
                       Republic of Panama

Common Stock           Axiom S.A.                  1,261,600 Shares  6.9%
                       62 Quai Gustave Ador
                       CH 1205 Geneva, Switzerland

CURRENT OFFICERS AND DIRECTORS

Common Stock           Fernand Leloroux            NIL shares        NIL%
                       President
                       28, Rue du Marche, Ch 1200

Common Stock           Cyril Heitzler              NIL shares        NIL%
                       Secretary and Treasurer
                       28, Rue du Marche, Ch 1200

Common Stock           All Officers and Directors  NIL shares        NIL%
                       as a Group that consists of
                       2 persons.

</TABLE>


--------------------------------------------------------------------------------
(1)     Based  on  a  total  of 18,196,765 shares of our common stock issued and
outstanding  as  of  April  11,  2002.
--------------------------------------------------------------------------------

Except  as  otherwise  noted,  it  is  believed by us that all persons have full
voting  and  investment  power  with  respect to the shares indicated. Under the
rules  of the Securities and Exchange Commission, a person (or group of persons)
is  deemed  to  be  a "beneficial owner" of a security if he or she, directly or
indirectly,  has  or  shares  the  power to vote or to direct the voting of such
security,  or  the  power  to  dispose  of  or to direct the disposition of such
security.  Accordingly,  more  than  one person may be deemed to be a

                                  Page 25 of 29
<PAGE>

beneficial
owner  of the same security. A person is also deemed to be a beneficial owner of
any security, which that person has the right to acquire within 60 days, such as
options  or  warrants  to  purchase  our  common  stock.

                                  Page 26 of 29
<PAGE>

ITEM  12.     CERTAIN  RELATIONSHIPS  AND  RELATED  TRANSACTIONS.

Except  as  described  below,  none  of  the following persons has any direct or
indirect  material  interest  in any transaction to which we were or are a party
during  the  past two years, or in any proposed transaction to which the Company
proposes  to  be  a  party:

(A)     any  director  or  officer;

(B)     any  proposed  nominee  for  election  as  a  director;

(C)     any  person  who  beneficially  owns,  directly  or  indirectly,  shares
        carrying  more  than  5%  of  the voting rights attached to our common
        stock; or

(D)     any  relative or spouse of any of the foregoing persons, or any relative
        of  such  spouse,  who has the same house as such person or who is a
        director or officer  of  any  parent  or  subsidiary.

Acquisition  of  Technocall

We  issued  a  total  of  7,600,000 shares of our common stock to the Technocall
shareholders on closing of the acquisition of Technocall on December 18, 2001 as
follows:

     Technocall  Shareholder                         Number  of  Shares
     -----------------------                         ------------------

     Advanced Technologies Development Co. Ltd.      3,800,000  Shares
     Rocasoprane  Ltd.                               2,538,400  Shares
     Axiom  S.A.                                     1,261,600  Shares

Mr.  Fernand  Leloroux,  the president and a director of Blue Industries, is the
president  of Technocall.  Cyril Heitzler and Fernand Leloroux were directors of
Technocall  SA.  Mr.  Heitzler  owned  less  than  a  20%  interest  in Advanced
Technologies  Development  Co.  Limited  and  Mr. Leloroux owned less than a 20%
interest  in  Axiom  S.A.

Liability  of  Technocall  to  Advanced  Technologies  Development  Co.  Ltd.

Our  subsidiary,  Technocall,  acquired  the  software,  patents,  property  and
equipment  and parts and supplies inventory comprising the Blue Industries water
treatment  process  from  Advanced  Technologies  on  September  29,  2001.  The
technology  acquired  by  Technocall  pursuant  to  this  agreement included the
electronic  smart card management system for the Blue Industries water treatment
apparatus.  Advanced Technologies formerly owned 50% of Technocall and is one of
our  principal  shareholders.   Technocall  issued  to  Advanced  Technologies a
subordinated  note payable in the amount of $4,288,500 as consideration for this
transfer of assets.  Subsequent to the acquisition, Advanced Technologies agreed
to  forgive $31,070 of the note payable in respect of previous expenses incurred
by  Technocall.  The forgiveness was recorded as a reduction in the distribution
of  equity.  The  debt  was  subordinated  against  future  indebtedness and was
unsecured  and  non-interest  bearing  with  no  specific  terms  for repayment.
Advanced  Technologies  agreed  to  forgive this indebtedness effective April 2,
2002.  Accordingly,  neither we nor Technocall are liable for the payment of any
further  amount  to  Advanced  Technologies  as  a  result  of this acquisition.

Former  Management

We  paid  an  amount  of  $1000  per  month to Mr. William Robertson, our former
president  and  a  former director, in consideration for Mr. Robertson providing
office space to us for our business operations.  This arrangement was terminated
upon  our  acquisition  of  Technocall.


                                  Page 27 of 29
<PAGE>

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

(a)     EXHIBITS

Exhibit  Description
-------  -----------
3.1      Articles  of  Incorporation(1)
3.2      Amended  Bylaws(1)
3.3      Amended  and  Restated  Articles  of  Incorporation dated
         March 27, 2002
10.1     Share  purchase  agreement  between Blue Industries Technologies, Inc.,
         Technocall  SA  and Advanced Technologies Development Co. Ltd.,
         Rocasoprane Ltd. and Axiom S.A. entered into on December 4, 2001
         and dated for reference November 23,  2001(2)
10.2     Patent  License  Contract  between the Registrant and Eaudegam SA dated
         February  6,  2002
10.3     Partnership  Contract  between  the  Registrant  and  Desert Blue dated
         February  12,  2002

     (1)  Previously filed as an exhibit to the Registrant's Form SB-2
          registration statement originally filed with the United States
          Securities and Exchange Commission on December 20, 2000, as amended.

     (2)  Previously filed as an exhibit to the Registrant's Current Report on
          Form 8-K filed with the United States Securities and Exchange
          Commission on January 2, 2002.


(b)     REPORTS  ON  FORM  8-K

We  filed  a  Current  Report  on  Form  8-K  on January 2, 2002 to disclose our
acquisition  of  Technocall SA.  We filed an amendment to this Current Report on
Form  8-K  on  April  8,  2002  to  include  the audited financial statements of
Technocall  and  pro-forma  financial  statements.


                                  Page 28 of 29
<PAGE>


                                   SIGNATURES


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


BLUE  INDUSTRIES  TECHNOLOGIES,  INC.


By:  /s/ Fernand  Leloroux
     -----------------------------
     Fernand  Leloroux,  President
     Director
     Date:     April  12,  2002


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



By:  /s/ Fernand  Leloroux
     --------------------------------
     Fernand  Leloroux,  President
     (Principal  Executive  Officer)
     (Principal  Financial  Officer  and  Principal  Accounting  Officer)
     Director
     Date:     April  12,  2002


By:  /s/ Cyril  Heitzler
     --------------------------------
     Cyril  Heitzler,  Secretary
     Director
     Date:     April  12,  2002


                                  Page 29 of 29