U.S.  SECURITIES  AND  EXCHANGE  COMMISSION
                              Washington,  D.C.
                              AMENDED FORM  10-KSB
(Mark  One)

[X]     ANNUAL  REPORT  PURSUANT  TO  SECTION  13  OR  15(d)  OF  THE
     SECURITIES  EXCHANGE  ACT  OF  1934  [Fee  Required]

     For  the  fiscal  year  ended                October  31,  2002

[  ]     TRANSITION  REPORT  UNDER  SECTION  13  OR  15(d)  OF  THE
     SECURITIES  EXCHANGE  ACT  OF  1934  [No  Fee  Required]

     For  the  transition  period  from            to


                         COLUMBIA  HUNTER  CAPITAL  CORP.
      ------------------------------------------------------------------
               (Name  of  small  business  issuer  in  its  charter)

Delaware                          0-32169               98-0336405
-----------------------------  ------------          -------------------
(State  or  other  jurisdiction  (Commission          (IRS  Employer
of  incorporation)               File  Number)         Identification  No.)


                                 Colin  Watt
             1360  -  605  Robson  Street,  Vancouver  BC  Canada  V6B  5J3
            ----------------------------------------------------------------
           (Address  of  principal  executive  office  including  zip  code)

                               (604)-  684-6535
                        ----------------------------
                       Issuer's  telephone  number

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

Securities  registered  under  Section  12(g)  of  the  Exchange Act:     Common
Stock,  $.001  par  value  per  share

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

<PAGE>
Page  1

     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.  [X]

     State  the  aggregate  market  value  of  the  voting  stock  held  by non-
affiliates  computed  by  reference to the price at which the stock was sold, or
the  average  bid  and asked prices of such stock, as of a specified date within
the  past  60  days.  (See definition of affiliate in Rule 12b-2 of the Exchange
Act.)  Not  Applicable

     (ISSUERS  INVOLVED  IN  BANKRUPTCY  PROCEEDINGS DURING THE PAST FIVE YEARS)

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


                    DOCUMENTS  INCORPORATED  BY  REFERENCE
None

<PAGE>
Page  2

ITEMS  1  &  2.  DESCRIPTION  OF  THE  BUSINESS  AND  THE  COMPANY'S  PROPERTIES

A.     The  Company

     Columbia  Hunter  Capital  Corp.  (the  "Company")  was organized under the
laws  of  the  State of Delaware on October 18, 2000.  The Company was organized
for  the  purposes  of  creating  a  corporate  vehicle to locate and acquire an
operating  business  entity  which management believes is a suitable acquisition
candidate  (a  "Target  Company").  The  Company will not restrict its search to
any  specific  business,  industry  or  geographical  location.

     The  Company  does  not  currently  engage  in any business activities that
provide  any  cash  flow.  The  costs  of  identifying,  investigating,  and
analyzing  business  combinations  will  be  paid  with  money  in the Company's
treasury  or  loaned  by  management.

     Although  the  Company  was  under  no  obligation  to  do  so,  it  has
voluntarily  filed  this  registration statement because it believes that it can
better  facilitate  its  business  goals  if  it were a "reporting issuer" under
the  Securities  Exchange  Act  of  1934  (the  "Exchange  Act").

                    PROPOSED  BUSINESS

     The  Company  will  seek  to  locate  and acquire a Target Company which in
the  opinion  of  the  Company's  management  (sometimes  referred  to  as  the
"Management")  offers  long  term  growth  potential.  The  Company  will  not
restrict  its  search  to  any  specific  business,  industry  or  geographical
location.  The  Company  may  seek  to  acquire  a Target Company which has just
commenced  operations,  or  which  wishes  to  avail  itself  of the benefits of
being  a  "reporting  issuer" in order to facilitate capital formation to expand
into  new  products  or  markets.

     There  are  certain  perceived  benefits  to being a reporting company with
a  class  of  publicly-traded securities.  These are commonly thought to include
the  following:

*     the  ability  to  use registered securities to make acquisitions of assets
     or  businesses;
*     increased  visibility  in  the  financial  community;
*     the  facilitation  of  borrowing  from  financial  institutions;
*     improved  trading  efficiency;
*     shareholder  liquidity;
*     greater  ease  in  subsequently  raising  capital;
*     compensation  of  key  employees  through  stock  options;
*     enhanced  corporate  image;
*     a  presence  in  the  United  States  capital  market.

<PAGE>
Page  3

A  Target  Company,  if  any,  which  may  be  interested  in  a  business
combination  with  the  Company  may  include  the  following:

*     a  company  for  which  a  primary  purpose  of  becoming  public  is  the
     use  of  its  securities  for  the  acquisition  of  assets  or businesses;
*     a  company  which  is  unable  to find an underwriter of its securities or
     is  unable  to  find  an  underwriter  of securities on terms acceptable to
     it;
*     a  company  which  wishes  to  become  public  with  less  dilution of its
     common  stock  than  would  occur  upon  an  underwriting;
*     a  company  which  believes  that  it  will  be  able to obtain investment
     capital  on  more  favorable  terms  after  it  has  become  public;
*     a  foreign  company  which  may  wish  an  initial  entry  into the United
     States  securities  market;
*     a  special  situation  company,  such  as  a  company  seeking  a  public
     market  to  satisfy  redemption  requirements  under  a  qualified
     Employee  Stock  Option  Plan;  and
*     a  company  seeking  one  or  more  of  the  other  perceived  benefits of
     becoming  a  public  company.

     There  is  no  assurances  that  the  Company  will  be  able  to effect an
acquisition  of  a  Target  Company.  In addition, at this time, no specifics as
to  an  acquisition  or  as to the nature of the Target Company can be provided.


                    RISK  FACTORS

     The  Company's  business  is  subject  to  numerous risk factors, including
the  following:

Anticipated  Change  in  Control  and  Management.   Upon  the  successful
completion  of  the  acquisition  of  a  Target Company, the Company anticipates
that  it  will  have  to  issue  to  the Target Company or its shareholders some
authorized  but  unissued  common  stock  which,  when  issued  will  comprise a
majority  of  the  Company's then issued and outstanding shares of common stock.
Therefore,  the  Company  anticipates  that  upon the closing of the acquisition
of  a  Target  Company,  the Company will no longer be controlled by the current
shareholders.  In  addition,  existing  management  and  directors  may  resign.
The  Company  cannot  give  any  assurance that the experience or qualifications
of  new  management,  as  it relates to either in the operation of the Company's
activities  or  in  the  operation  of  the  business,  assets or property being
acquired,  will  be  adequate  for  such  purposes.

Conflict  of  Interest  - Management's Fiduciary Duties.  A conflict of interest
may  arise  between  management's  personal  financial  benefit and management's
fiduciary  duty  to  you.  The  Company's  sole  director  and officer is or may
become  an  officer,  director,  controlling shareholder and/or partner of other
entities  engaged  in  a  variety  of  businesses.  Mr.  Watt  is  engaged  in
other  business  activities.  Accordingly,  the amount of time he will devote to
the  Company's  business  will  only  be  about  five  (5) to ten (10) hours per
month.  There  exists  potential  conflicts  of interest including allocation of
time  between  the  Company  and  its representative's other business interests.

<PAGE>
Page  4

Experience  of  Management;  Consultants.   Although  management  has  general
business  experience,  it  has  limited  experience  in  effecting  business
combinations  and  may  not  have  any  significant  experience  in acquiring or
operating  certain  business  interests  that  the  Company  might  choose  to
acquire.  Management  does  not  have,  nor  does  it  presently intend to enter
into,  any  contracts  or  agreements  with  any  consultants  or  advisors with
respect  to  its  proposed  business  activities.  Consequently,  management has
not  established  the  criteria  that  will  be  used  to  hire  independent
consultants  regarding  their  experience, the services to be provided, the term
of  service,  etc.,  and  no assurance can be made that the Company will be able
to  obtain  such  assistance  on  acceptable  terms.

Potential  Future  Rule  144  Sales.   Of  the 1,000,000 shares of the Company's
Common  Stock  authorized,  there  are  presently issued and outstanding 725,000
shares  $.001  par  value;  all  of which are restricted securities as that term
is  defined  under  the  Securities  Act  of 1933 (the "Securities Act"), and in
the  future  may,  subject  to  the  foregoing discussion, be sold in compliance
with  Rule  144  of  the Securities Act, or pursuant to a Registration Statement
filed  under  the  Securities Act.  Rule 144 provides, in essence, that a person
holding  restricted  securities  for  a  period  of  one  year  may  sell  those
securities  in  unsolicited  brokerage  transactions  or  in transactions with a
market  maker,  in  an  amount  equal  to  1%  of the Company outstanding common
stock  every  three  months.  Rule  144  also  permits,  under  certain
circumstances,  that  the  sale of shares by a person who is not an affiliate of
ours  and  who  has  satisfied  a  two  year holding period without any quantity
limitation  and  whether  or  not  there  is adequate current public information
available.  Investors  should  be  aware  that sales under Rule 144, or pursuant
to  a  registration  statement  filed  under  the  Securities  Act,  may  have a
depressive  effect  on  the  market  price  of the Company's common stock in any
market  that  may  develop  for  such  shares.

     Pursuant  to  a  letter  dated  January  21,  2000  from  the United States
Securities  and  Exchange  Commission  (the  "Commission")  to  NASD Regulation,
Inc.  the  Commission  has  taken  the  position  that,  both before and after a
business  combination,  the  promoters  or  affiliates of blank check companies,
as  well  as  their  transferees,  are underwriters of the securities issued and
accordingly  such  securities  can  only  be  resold  pursuant to a Registration
Statement  filed  under  the  Securities  Act.  Accordingly  the  aforementioned
shares  may  not  be  sold  in  compliance  of  Rule  144.

Possible  Issuance  of  Additional  Shares.   The  Company's  Certificate  of
Incorporation,  authorizes  the  issuance  of  1,000,000  shares of common stock
$.001  par  value.  The  Company's Board of Directors has the power to issue any
or  all  of  such  additional  shares  without  stockholder  approval  for  such
consideration  as  it  deems.  Management  presently  anticipates  that  it  may
choose  to  issue  a  substantial  amount  of the Company's shares in connection
with  the  acquisition  of  a  target  business.

Risks  of  Leverage.   There  are  currently  no  limitations  relating  to  the
Company's  ability  to  borrow funds to increase the amount of capital available
to  it  to  effect a business combination or otherwise finance the operations of
any  Target  Company.  The  amount  and  nature of any borrowings by the Company
will  depend  on  numerous  factors,  including  the  Company's  capital
requirements,  the  Company's  perceived  ability  to  meet debt services on any
such  borrowings,  and  then-prevailing  conditions in the financial markets, if
required  or  otherwise  sought,  will  be  available  on  terms  deemed  to  be
commercially  acceptable  and  in  the  best  interest  of  the  Company.  The
Company's  inability  to  borrow  funds  required  to  effect  or  facilitate  a
business  combination,  or  to  provide  funds  for  an  additional  infusion of
capital  into  a  Target  Company,  may  have  a  material adverse effect on the
Company's  financial  condition  and  future  prospects.

<PAGE>
Page  5

Additionally,  to  the  extent  that  debt  financing  ultimately  proves  to be
available,  any  borrowings  may  subject  the  Company  to  various  risks
traditionally  associated  with  incurring  of  indebtedness,  including:

*     if  the  Company's  operating  revenues  after  the acquisition were to be
     insufficient  to  pay  debt  service,  there would be a risk of default and
     foreclosure  on  the  Company  assets.

*     if  a  loan  agreement  containing  covenants  is  breached  without  a
     waiver  or  renegotiation  of  the  terms  of  that  covenant,  then  the
     lender  could  have  the  right  to  accelerate  the  payment  of  the
     indebtedness  even  if  the  Company  has  made  all  principal  and
     interest  payments  when  due.

*     if  the  interest  rate  on  a  loan fluctuated or the loan was payable on
     demand,  the  Company  would  bear  the  risk  of  variations  in  the
     interest  rate  or  demand  for  payment.

*     if  the  terms  of  a  loan  did  not  provide  for  amortization prior to
     maturity  of  the  full  amount  borrowed  and  the  "balloon"  payment
     could  not  be  refinanced  at  maturity  on  acceptable  terms,  we  might
     be  required  to  seek  additional  financing  and,  to  the  extent  that
     additional  financing  is  not  available  on  acceptable  terms,  to
     liquidate  the  Company's  assets.

Possible  Need  for  Additional  Financing.   The  Company cannot ascertain with
any  degree  of  certainty  the  capital  requirements  for  a particular Target
Company  inasmuch  as  the  Company  has  not  yet  identified  any  acquisition
candidates.  If  the  Target  Company  requires  additional  financing,  such
additional  financing  (which,  among  other  forms,  could  be derived from the
public  or  private  offering  of  securities  or  from  the acquisition of debt
through  conventional  bank  financing),  may  not  be  available, due to, among
other  things,  the  Target  Company  not  having  sufficient:

*  credit  or  operating  history;
*  income  stream;
*  profit  level;
*  asset  base  eligible  to  be  collateralized;  or
*  market  for  its  securities.

<PAGE>
Page  6

Since  no  specific  business  has  been  targeted  for  acquisition,  it is not
possible  to  predict  the  specific  reasons why conventional private or public
financing  or  conventional  bank financing might not become available. Although
there  are  no  agreements  between  the  Company and any of its officers and/or
directors  pursuant  to  which  we may borrow and such officers and/or directors
are  obligated  to  lend  the  Company  monies, there are no restrictions on the
Company's  right  to  borrow  money from officers and directors.  No stockholder
approval  is  required  in  connection  with  any  such  loan.

Penny  Stock  Rules.    Under  Rule  15g-9,  a  broker  or dealer may not sell a
"penny  stock"  (as  defined  in  Rule  3a51-1)  to  or effect the purchase of a
penny  stock  by  any  person  unless:

(1)     such  sale  or  purchase  is  exempt  from  Rule  15g-9;  or

(2)     prior  to  the  transaction  the  broker  or dealer has (a) approved the
     person's  account  for  transaction  in  penny  stocks  in  accordance with
     Rule  15g-9  and  (b)  received  from  the  person  a  written agreement to
     the  transaction  setting  forth  the  identity  and  quantity of the penny
     stock  to  be  purchased.

     The  Commission  adopted  regulations  that  generally define a penny stock
to  be  any  equity security other than a security excluded from such definition
by  Rule  3a51-1.  Such  exemptions  include,  but  are  not  limited  to (a) an
equity  security  issued  by  an  issuer  that has (i) net tangible assets of at
least  $2,000,000,  if  such  issuer  has  been  in continuous operations for at
least  three  years;  (ii)  net  tangible assets of at least $5,000,000, if such
issuer  has  been  in  continuous  operation for less than three years; or (iii)
average  revenue  of  at  least  $6,000,000  for  the preceding three years; (b)
except  for  purposes  of  Section  7(b)  of  the Exchange Act and Rule 419, any
security  that  has  a  price  of  $5.00  or  more;  (c)  and a security that is
authorized  or  approved  for  authorization  upon  notice  of  issuance  for
quotation  on  the  National  Association  of  Securities  ("NASD")  Dealers

Automated  Quotation  System  ("NASDAQ").

     It  is  likely  that  the  Company's  common  stock  will be subject to the
regulations  on  penny  stocks;  consequently,  the  market  liquidity  for  the
Company  common  stock  may  be adversely affected by such regulations. This, in
turn,  will  affect  shareholders  ability  to  sell  his  shares  following the
completion  of  an  acquisition.

     There  is  no  current  trading  market  for  shares  (the "Shares") of the
Company's  common  stock  and  there  can  be no assurance that a trading market
will  develop,  or,  if  such  a  trading  market  does develop, that it will be
sustained.  The  Shares,  to  the  extent  that a market develops for the Shares
at  all,  will  likely  appear in what is customarily known as the "pink sheets"
or  on  the  NASD over-the-counter Bulletin Board (the "OTCBB"), which may limit
the  marketability  and  liquidity  of  the  Shares.

<PAGE>
Page  7

     To  date,  neither  the  Company nor anyone acting on behalf of the Company
has  taken  any  affirmative  steps to request or encourage any broker/dealer to
act  as  a  market maker for the Company's common stock.  The Company has had no
discussions  or  understandings,  with  any  "market  makers"  regarding  the
participation  of  any  such  market maker in the future trading market, if any,
in  the  Company's  common  stock.  Management  expects that discussions in this
area  will  ultimately  be  initiated  by  the  management  in  office  after
completion  of  the  acquisition  of  a  Target  Company.

Risks  Associated  with  Operations  in  Foreign  Countries.   The  Company's
business  plan  is  to  seek  to  acquire  a  Target  Company.  Management's
discretion  is  unrestricted,  and  the  Company may participate in any business
whatsoever  that  may  in  the opinion of Management meet the Company's business
objectives.  The  Company  may  acquire  a  business  outside the United States.
The  Company  has  not limited the scope of its search to a particular region or
country.  Accordingly,  if  the  Company  acquires  a  business  located,  or
operating  in  a  foreign  jurisdiction,  the  Company's  operations  may  be
adversely  affected  to  the  extent  of  the  existence  of  unstable economic,
social  and/or  political  conditions  in  such  foreign  regions and countries.

No  Recent  Operating  History  or  Revenue  and  Minimal  Assets.   The Company
has  had  no  operating  history  nor  any  revenues or earnings from operations
since  incorporation.  The  Company  has  no  significant  assets  or  financial
resources.  The  Company  will,  in  all  likelihood, sustain operating expenses
without  corresponding  revenues,  at least until the consummation of a business
combination.  This  may  result  in  the  Company incurring a net operating loss
which  will  increase  continuously  until the Company can consummate a business
combination  with  a  Target Company. There is no assurance that the Company can
identify  such  a  Target  Company  and  consummate such a business combination.

Speculative  Nature  of  the  Company's  Proposed  Operations.   The  success of
the  Company's  proposed  plan of operation will depend to a great extent on the
operations,  financial  condition  and  management  of  the  identified  Target
Company.  While  management  will  prefer  business  combinations  with entities
having  established  operating  histories,  there  can  be no assurance that the
Company  will  be  successful  in locating candidates meeting such criteria.  In
the  event  the  Company completes a business combination, of which there can be
no  assurance,  the  success  of the Company's operations will be dependent upon
management  of  the  Target  Company  and  numerous  other  factors  beyond  the
Company's  control.

Scarcity  of  and  Competition  for  Business  Opportunities  and  Combinations.
The  Company  is  and  will  continue  to be an insignificant participant in the
business  of  seeking  mergers  with  and  acquisitions of business entities.  A
large  number  of  established  and  well-financed  entities,  including venture
capital  firms,  are  active  in mergers and acquisitions of companies which may
be  merger  or  acquisition  target  candidates for the Company. Nearly all such
entities  have  significantly  greater  financial resources, technical expertise
and  managerial  capabilities  than  the  Company and, consequently, the Company
will  be  at  a  competitive  disadvantage  in  identifying  possible  business
opportunities  and  successfully  completing  a business combination.  Moreover,
the  Company  will  also  compete  with numerous other small public companies in
seeking  merger  or  acquisition  candidates.

<PAGE>
Page  8

No  Agreement  for  Acquisition  of  a  Target  Company  Combination.   The
Company  has  no  current  arrangement,  agreement or understanding with respect
to  engaging  in  a  merger  with  or acquisition of a specific business entity.
There  can  be  no  assurance that the Company will be successful in identifying
and  evaluating  suitable  business  opportunities  or  in concluding a business
combination.  Management  has  not  identified  any  particular  industry  or
specific  business  within  an industry for evaluation by the Company.  There is
no  assurance  that  the  Company  will  be  able  to  negotiate  a  business
combination  on  terms  favorable  to  the  Company.  The  Company  has  not
established  a  specific  length  of  operating  history or a specified level of
earnings,  assets,  net  worth  or other criteria which it will require a Target
Company  to  have  achieved,  or  without which the Company would not consider a
business  combination  with  such business entity.  Accordingly, the Company may
enter  into  a  business  combination  with  a  business  entity  having  no
significant  operating  history,  losses,  limited or no potential for immediate
earnings,  limited  assets,  negative  net  worth  or  other  negative
characteristics.

Reporting  Requirements  May  Delay  or  Preclude  Acquisition.   Section  13 of
the  Exchange  Act  requires  companies  subject  thereto  to  provide  certain
information  about  significant  acquisitions  including  certified  financial
statements  for  the  company  acquired  covering one or two years, depending on
the  relative  size  of the acquisition.  The time and additional costs that may
be  incurred  by  some target companies to prepare such financial statements may
significantly  delay  or  essentially  preclude  consummation  of  an  otherwise
desirable  acquisition  by  the Company.  Acquisition prospects that do not have
or  are  unable  to  obtain  the  required  audited  statements  may  not  be
appropriate  for  acquisition  so  long  as  the  reporting  requirements of the
Exchange  Act  are  applicable.

Lack  of  Market  Research  or  Marketing  Organization.   The  Company  has
neither  conducted,  nor  have  others  made  available  to  it, market research
indicating  that  demand  exists  for  the  transactions  contemplated  by  the
Company.  Even  in  the  event  demand exists for a merger or acquisition of the
type  contemplated  by  the  Company,  there is no assurance the Company will be
successful  in  completing  any  such  business  combination.

Lack  of  Diversification.   The  Company's  proposed  operations,  even  if
successful,  will  in  all  likelihood  result  in  the  Company  engaging  in a
business  combination  with  only  one  business  entity.  Consequently,  the
Company's  activities  will  be  limited  to  those  engaged  in by the business
entity  which  the  Company merges with or acquires.  The Company's inability to
diversify  its  activities  into  a  number  of areas may subject the Company to
economic  fluctuations  within  a  particular business or industry and therefore
increase  the  risks  associated  with  the  Company's  operations.

Regulation  under  Investment  Company  Act.   Although  the  Company  will  be
subject  to  regulation  under the Exchange Act, management believes the Company
will  not  be  subject  to  regulation under the Investment Company Act of 1940,
insofar  as  the  Company  will  not  be engaged in the business of investing or
trading  in  securities.  In  the  event  the  Company  engages  in  business
combinations  which  result  in the Company holding passive investment interests
in  a  number  of entities, the Company could be subject to regulation under the
Investment  Company  Act  of  1940.  In  such  event,  the  Company  would  be
required  to  register  as  an investment company and could be expected to incur
significant  registration  and  compliance  costs.  The  Company has obtained no
formal  determination  from  the  Securities  and  Exchange Commission as to the
status  of  the  Company  under  the  Investment  Company  Act  of  1940  and,
consequently,  any  violation  of such Act could subject the Company to material
adverse  consequences.

<PAGE>
Page  9

Probable  Change  In  Control  and  Management.   A  business  combination
involving  the  issuance  of the Company's common stock will, in all likelihood,
result  in  shareholders  of  a  Target Company obtaining a controlling interest
in  the  Company.  Any  such  business  combination  may require shareholders of
the  Company  to  sell  or  transfer  all  or  a portion of the Company's common
stock  held  by  them.  The  resulting  change  in  control  of the Company will
likely  result  in  removal  of  the present officer and director of the Company
and  a  corresponding  reduction  in  or elimination of his participation in the
future  affairs  of  the  Company.

Taxation.   Federal  and  state  tax  consequences  will,  in all likelihood, be
major  considerations  in  any  business  combination the Company may undertake.
Currently,  such  transactions  may  be  structured  so as to result in tax-free
treatment  to  both  companies,  pursuant  to  various  federal  and  state  tax
provisions.  The  Company  intends  to  structure any business combination so as
to  minimize  the  federal  and  state  tax consequences to both the Company and
the  Target  Company;  however,  there  can  be  no assurance that such business
combination  will  meet  the statutory requirements of a tax-free reorganization
or  that  the  parties  will  obtain  the  intended  tax-free  treatment  upon a
transfer  of  stock  or assets.  A non-qualifying reorganization could result in
the  imposition  of  both  federal  and  state  taxes  which may have an adverse
effect  on  both  parties  to  the  transaction.

 ITEM  3.  LEGAL  PROCEEDINGS

     The  Company  is  not  party  to  any  pending legal proceedings and is not
aware  of  any  contemplated  legal proceedings to which it may be a party or of
which  any  of  its  properties  may  be  subject.

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

     During  the  last  quarter  of  the  fiscal  year ended October 31, 2002 no
matter  was  submitted  to  the  vote of the Company's security holders, through
resolutions  of  proxies  or  otherwise.

<PAGE>
Page  10

     PART  II

ITEM  5.  MARKET  FOR  THE  COMPANY'S  COMMON  EQUITY  AND  RELATED STOCKHOLDERS
         MATTERS

     There  is  no  trading  market  for  the  Company's  Common  Stock.

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

     This  Report  includes  "forward-looking  statements" within the meaning of
Section  27A  of  the  Securities  Act and Section 21E of the Exchange Act.  All
statements  other  than  statements of historical facts included in this Report,
including,  without  limitation,  the  statements under "Management's Discussion
and  Analysis  or  Plan  of Operation" regarding the Company's prospects and the
Company's  financial  position  are  forward-looking  statements.  Although  the
Company  believes  that  the  expectations  are  reasonable,  it  can  give  no
assurance  that  such  expectations  are reasonable and it can give no assurance
that  such  expectations  will  prove  to  have been correct.  Important factors
that  could  cause  actual  results  to  differ  materially  from  the Company's
expectations  ("Cautionary  Statements")  are  disclosed  in  this  Report,
including,  without  limitation,  in  conjunction  with  the  forward-looking
statements  included  in  this Report under "Risks Associated with the Company's
Business."  All  subsequent  written  and  oral  forward  looking  statements
attributable  to  the  Company  or  persons  acting  on its behalf are expressly
qualified  in  their  entirety  by  the  Cautionary  Statements.

Business  Objectives

     The  Company's  business  plan  is  to  seek  to  acquire  or  merge  with
potential  businesses  that  may,  in  the  opinion  of  Management, warrant the
Company's  involvement.  Management's  discretion  is  unrestricted,  and  the
Company  may  participate  in any business whatsoever that may in the opinion of
Management  meet  the  business  objectives  discussed  herein.

     The  Company  recognizes  that  as  a  result  of  its  limited  financial,
managerial  or  other  resources,  the  number  of suitable potential businesses
that  may  be  available  to  it  will  be  extremely  limited.  The  Company's
principal  business  objective  will  be  to  seek long-term growth potential in
the  business  in  which  it  participates  rather  than  immediate,  short-term
earnings.  In  seeking  to  attain its business objectives, the Company will not
restrict  its  search  to  any  particular  industry.  Rather,  the  Company may
investigate  businesses  of  essentially  any  kind or nature, including but not
limited  to  finance,  high  technology,  manufacturing,  service,  research and
development,  communications,  insurance,  brokerage,  transportation,  and
others.  Management  may  also  seek  to  become involved with other development
stage  companies  or  companies  that  could  be  categorized  as  "financially
troubled."  At  the  present  time,  the  Company  has not chosen the particular
area  of  business  in  which  it  proposes  to engage and has not conducted any

market  studies  with  respect  to  any  business,  property  or  industry.

     Businesses  that  seek  the  Company's  participation  in  their operations
may  desire  to  do  so to avoid what such businesses deem to be adverse factors
related  to  undertaking  a  public  offering.  Such factors include substantial
time  requirements,  market  conditions, legal costs, conditions or requirements
imposed  by  Federal  and  state  securities  laws  and  possible loss of voting
control.  In  making  an  investment  in the Company, investors should recognize
that  the  terms  of  their  purchase of the Company's securities may ultimately
prove  to  be  less  favorable  than  if  such  persons  had  invested  in  the
securities  of  a  specific  business  that  was  undertaking  its  own  public
offering.

<PAGE>
Page  11

Evaluation  Criteria

     The  analysis  of  potential  business  endeavors  will be undertaken by or
under  the  supervision  of  Management,  no  member  of which is a professional
business  analyst.  Management  is  comprised  of  one  individual  with limited
business  experience,  and  Management will rely on its own business judgment in
formulating  decisions  as  to  the  types  of  businesses  that the Company may
acquire  or  in  which  the  Company may participate.  It is quite possible that
Management  will  not  have  any business experience or expertise in the type of
business  engaged  in  by the company ultimately acquired.  Management will seek
to  examine  those  factors  described  herein  when making a business decision;
however,  the  mention  of such factors to be examined by Management with regard
to  its  determining  the potential of a business endeavor should not be read as
implying  any  experience  or  expertise  on  behalf  of  Management  as  to the
business  chosen.  These  factors  are  merely  illustrative  of  the  types  of
factors  that  Management  may  consider  in evaluating a potential acquisition.

     Management  anticipates  that  the  selection  of  a Target Company will be
complex  and  risky  because  of the competition for such business opportunities
among  all  segments  of  the  financial community.  The nature of the Company's
search  for  the  acquisition  of  a Target Company requires maximum flexibility
inasmuch  as  the  Company  will  be  required  to  consider various factors and
divergent  circumstances  which  may  preclude  meaningful  direct  comparison
among  the  various  business  enterprises,  products  or services investigated.
Investors  should  recognize  that  the  possible  lack  of  diversification  in
relation  to  the  Company's  acquisition  may  not permit the Company to offset
potential  losses  from  one  venture against profits from another.  This should
be  considered  a  negative  factor  affecting  any  decision  to  purchase  the
Shares.  Management  of  the  Company  will  have  virtually  unrestricted
flexibility  in  identifying  and  selecting  a  prospective  Target  Company.
Management  may  consider,  among  other  factors  in  evaluating  a prospective
Target  Company  and  determining  the  "fair  market  value"  thereof,  the
following:

     *     the  Target  Company's  net  worth;

     *     the  Target  Company's  total  assets;

     *     the  Target  Company's  cash  flow;

     *     costs  associated  with  effecting  the  Business  Combination;

     *     equity  interest  in  and  possible  management  participation in the
          Target  Company;

<PAGE>
Page  12

     *     earnings  and  financial  condition  of  the  Target  Company;

     *     growth  potential  of  the  Target  Company and the industry in which
          it  operates;

     *     experience  and  skill  of  management and availability of additional
          personnel  of  the  Target  Company;

     *     capital  requirements  of  the  Target  Company;

     *     competitive  position  of  the  Target  Company;

     *     stage  of  development  of  the  product,  process  or service of the
          Target  Company;

     *     degree  of  current  or  potential  market acceptance of the product,
          process  or  service  of  the  Target  Company;

     *     possible  proprietary  features  and  possible  other  protection  of
          the  product,  process  or  service  of  the  Target  Company;  and

     *     regulatory  environment  of  the  industry  in  which  the  Target
          Company  operates.

     The  foregoing  criteria  is  not  intended  to be exhaustive or obligatory
and  any  evaluation  relating  to  the  merits  of  a  particular  Business
Combination  will  be  based,  to  the  extent relevant, on the above factors as
well  as  other  considerations deemed relevant by management in connection with
effecting  a  Business  Combination  consistent  with  the  Company's  business
objectives.

     It  is  anticipated  that  locating  and  investigating  specific  business
proposals  could  take  a  considerable  amount  of  time.   The  time and costs
required  to  select  and  evaluate  a  Target  Company  candidate  (including
conducting  a  due  diligence  review)  and  to  structure  and  consummate  the
Business  Combination  (including  negotiating relevant agreements and preparing
requisite  documents  for  filing  pursuant  to  applicable  securities laws and
state  corporate  laws)  cannot  presently  be  ascertained  with  any degree of
certainty.

     The  Company  anticipates  that  it  will  make  contact  with  business
prospects  primarily  through  the  efforts  of its officer and agents, who will
meet  personally  with  existing management and key personnel, visit and inspect
material  facilities,  assets,  products  and  services  belonging  to  such
prospects,  and  undertake  such  further reasonable investigation as Management
deems  appropriate,  to  the  extent  of  its  limited financial resources.  The
Company  anticipates  that  certain  Target Company candidates may be brought to
its  attention  from  various  unaffiliated  sources,  including  securities
broker/dealers,  investment  bankers,  venture  capitalists,  bankers,  other
members  of  the  financial  community,  and  affiliated  sources.  While  the
Company  does  not  presently  anticipate  engaging the services of professional
firms  that  specialize  in  business  acquisitions  on  any  formal  basis, the
Company  may  engage  such  firms  in the future, in which event the Company may
pay  a  finder's  fee  or  other  compensation.

<PAGE>
Page  13

     To  date,  the  Company  has  not  selected  any particular industry or any

Target  Company  in  which  to  concentrate  its  Business  Combination efforts.

Daily  Operations

     The  Company  expects  to  use  attorneys and accountants as necessary, and
does  not  anticipate  a need to engage any full-time employees so long as it is
seeking  and  evaluating  business  opportunities.  The  need  for employees and
their  availability  will  be  addressed in connection with the decision whether
or  not  to  acquire  or  participate  in  a  specific  Business  Acquisition.

     Until  an  active  business  is commenced or acquired the Company will have
no  employees  or  day-  to-day  operations.  The  Company is unable to make any
estimate  as  to  the future number of employees which may be necessary, if any,
to  work  for  the  Company.  If an existing business is acquired it is possible
that  its  existing  staff  would  be hired by the Company.  At the present time
it  is  the  intention of Management to meet or be in telephone contact at least
once  a  week  and  more  frequently if needed to review business opportunities,
evaluate  potential  acquisitions  and  otherwise  operate  the  affairs  of the
Company.  Except  for  reimbursement  of  reasonable expenses incurred on behalf
of  the  Company,  Management  will  not  be  compensated  for  these  services
rendered  on  behalf  of  the  Company.

Office  Facilities

     The  Company  will maintain its business address at 1360-605 Robson Street,
Vancouver  BC  Canada.  Pursuant  to  an  oral agreement, which agreement may be
terminated  by  either  party  on 30 days prior written notice, the Company will
use  these  offices  on  a  rent  free basis until such time as it consummates a
Business  Combination.

<PAGE>
Page  14

ITEM  7.  FINANCIAL  STATEMENTS

Index                                                                      Page

Independent  Auditor's  Report                                             F-1

Balance  Sheets  as  of  at  October  31, 2002 and October 31, 2001        F-2

Statements  of  Operations  for  the  years  ended  October  31,  2002  and
October  31,  2001  and  for  the  period  ended  from  the  date  of
incorporation  October  18,  2000  to  October  31,  2000  and  for  the
period  October  18,  2000  (Date  of Incorporation) to October 31, 2002   F-3

Statements  of  Cash  Flows  for  the  years  ended  October  31,  2002  and
October  31,  2001  and  for  the  period  ended  from  the  date  of
incorporation  October  18,  2000  to  October  31,  2000  and  for  the
period  October  18,  2000  (Date  of Incorporation) to October 31, 2002   F-4

Statement  of  Shareholders'  Equity  for  the  period  October  18,  2000
(Date  of  Incorporation)  to  October  31,  2002                          F-5

Notes  to  Financial  Statements                                           F-6/8

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

     Not  Applicable

                    PART  III

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

Directors  and  Executive  Officers

Set  forth  below  is  the name of the sole director and officer of the Company,
all  positions  and  offices with the Company held, the period during which such
person  has  ever  served  as  such, and the business experience during at least
the  last  five  years:

Name                         Age     Positions  and  Offices  Held

Colin  Watt                   31     President  and  Director
(Since  October  18,  2000)

There  are  no  agreements  or  understandings  for  the  officer or director to
resign  at  the  request  of  another  person  and  the  above-named officer and
director  is  not  acting  on  behalf  of  nor  will act at the direction of any
other  person.

Colin  Watt  became  sole  officer  and  director  of  the  Company  on
October  18,  2000.  Mr.  Watt  has  been  a  consultant  for  the  past 9 years
providing  accounting,  administrative  and  management  services  to  public
companies.  He  is  currently  the  president  of Squall Capital Corp. a private
consulting  company  to  public  companies.  His clients included a wide variety
of  business  including  e-commerce,  software development, mineral exploration,
mine  development  and  oil  and  gas  exploration.

Mr.  Watt  graduated  with  a Bachelor of Commerce (Finance) from the University
of  British  Columbia  in  1993.

<PAGE>
Page  15

ITEM  10.  EXECUTIVE  COMPENSATION

     No  officer  or  director  presently  receives  a  salary.  Except  as
described  herein  it  is  not  anticipated  that  any  director or officer will
receive  any  fee  or  salary  pending  consummation  of a Business Combination.
However,  directors  and/or  officers  will  receive  expense  reimbursement for
expenses  reasonably  incurred  on  behalf  of  the  Company.

     In  addition,  Mr.  Watt  as  a  stockholder  of  the  Company  or  his
affiliates  may  receive  personal financial gain, by: (i) payment of consulting
fees,  (ii)  sales  of  affiliates'  stock, and (iii) payments of salaries.  See
"Risks  Associated  with  the  Company's  Business."  However,  no  finders fees
will  be  paid  to  an  officer,  director  or  principal  stockholder  or their
affiliates  by  virtue  of  their  initiation  of,  or  the  identification of a
Target  Company  with  which  a  Business  Combination  is  consummated.

Conflicts  of  Interest.

     The  Company's  sole  officer  and  director  expects  to  organize  other
companies  of  a  similar  nature  and  with  a  similar purpose as the Company.
Consequently,  there  are  potential inherent conflicts of interest in acting as
an  officer  and  director  of  the Company.  Insofar as the director is engaged
in  other  business  activities,  he  will devote only a minor amount of time to
the  Company's  affairs.  The  Company  does  not  have a right of first refusal
pertaining  to  opportunities  that  come  to  management's attention insofar as
such  opportunities  may  relate  to the Company's proposed business operations.

     A  conflict  may  arise  in the event that another blank check and/or blind
pool  company  (a  "blind  pool company") with which management is affiliated is
formed  and  actively  seeks  a  Target  Company.  It is anticipated that target
companies  will  be  located  for  the Company and other blind pool companies in
chronological  order  of  the  date of formation of such blind pool companies or
by  lot.  However,  any  blank  check  companies  that  may be formed may differ
from  the  Company  in  certain  items such as place of incorporation, number of
shares  and  shareholders,  working  capital, types of authorized securities, or
other  items.  It  may  be that a Target Company may be more suitable for or may
prefer  a  certain  blind  pool company formed after the Company.  In such case,
a  business  combination  might  be negotiated on behalf of the more suitable or
preferred  blind  pool  company  regardless  of  date  of formation or choice by
lot.  Mr.  Watt  will  be  responsible  for  seeking,  evaluating,  negotiating
and  consummating  a  business  combination  with  a  Target  Company  which may
result  in  terms  providing  benefits  to  Mr.  Watt.

      The  Company  may  agree to pay finder's fees, as appropriate and allowed,
to  unaffiliated  persons  who  may  bring a Target Company to the Company where
that  reference  results  in  a  business  combination.  No  finder's fee of any
kind  will  be  paid by the Company to management or promoters of the Company or
to  their  affiliates.  No  loans  of  any  type  have,  or will be, made by the
Company  to  management  or  promoters  of  the  Company  or  to  any  of  their
associates  or  affiliates.

<PAGE>
Page  16

     Management  has  not  adopted  policies  involving  possible  conflicts  of
interest.

     There  are  no  binding  guidelines  or  procedures for resolving potential
conflicts  of  interest.  Failure by Management to resolve conflicts of interest
in  favor  of  the  Company  could  result  in  liability  of  Management to the
Company.  However,  any  attempt  by  shareholders  to  enforce  a  liability of
Management  to  the  Company  would  most  likely be prohibitively expensive and
time  consuming.

ITEM  11.  SECURITY  OWNERSHIP  OF  CERTAIN  BENEFICIAL  OWNERS  AND  MANAGEMENT

The  following  table  sets  forth  certain information regarding the beneficial
ownership  of  the  Company's  common  stock  as  of  February  28,  2002 and as
adjusted  to  reflect  the  sale  of the Shares by: (i) each person who is known
by  the  Company  to  own  beneficially  more  than  five  percent  (5%)  of the
Company's  outstanding  common  stock,  (ii)  each of the Company's officers and
directors,  and  (iii)  all  directors  and  officers of the Company as a group.

NAME  AND  ADDRESS  OF            SHARES  OF            APPROXIMATE
BENEFICIAL                     COMMON  STOCK         PERCENTAGE
OWNER                          BENEFICIALLY         OWNED
                               OWNED

Colin  Watt                      725,000                100%
1360  -  605  Robson  Street,
Vancouver  BC  Canada
V6B  5J3

Officers  and  Directors as a    725,000                100%
Group  (1  person)


ITEM  12.  CERTAIN  RELATIONSHIPS  AND  RELATED  TRANSACTIONS

          None

ITEM  13.  EXHIBITS  AND  REPORTS  ON  8K

     (a)  Exhibits

          None

     (b)  Reports  on  Form  8-K

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

<PAGE>
Page  17

     SIGNATURE

          In  accordance  with  Section  13  or  15(d)  of the Exchange Act, the
registrant  caused  this  Annual  Report  on  Form  10-KSB  to  be signed on its
behalf  by  the  undersigned,  thereunto  duly  authorized.

                                        COLUMBIA  HUNTER  CAPITAL  CORP.
                                        (Registrant)

Dated:  April  23,  2003                 By:  /s/  Colin  Watt
                                        -------------------------
                                        Colin  Watt,  President


<PAGE>
Page  18

                         CERTIFICATION

I,  COLIN  WATT,  certify  that:

1.     I  have  reviewed  this  annual  report of COLUMBIA HUNTER CAPITAL CORP.;

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

3.     Based  on  my  knowledge,  the  financial statements, and other financial
information  included  in  this  annual  report,  fairly present in all material
respects  the  financial  condition, results of operations and cash flows of the
registrant  as  of,  and  for,  the  periods  presented  in  this annual report;

4.     I am responsible for establishing and maintaining disclosure controls and
procedures  (as  defined  in  Exchange  Act  Rules  13a-14  and  15d-14) for the
registrant  and  have:

*  designed  such  disclosure  controls  and  procedures to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is  made  known  to  us by others within those entities, particularly during the
period  in  which  the  annual  report  is  being  prepared;

* evaluated the effectiveness of the issuer's disclosure controls and procedures
as  of a date within 90 days prior to the filing date of this annual report (the
"Evaluation  Date");  and

*  presented  in  this  annual report conclusions about the effectiveness of the
disclosure  controls  and procedures based on an evaluation as of the Evaluation
Date;

5.     I  have  disclosed,  based  on  the  most  recent  evaluation,  to  the
registrant's auditors and the audit committee of registrant's board of directors
(or  persons  performing  the  equivalent  function):

*  all  significant deficiencies in the design or operation of internal controls
which  could  adversely  affect  the  registrant's  ability  to record, process,
summarize  and  report  financial  data and have identified for the registrant's
auditors  any  material  weaknesses  in  internal  controls;  and

*  any  fraud,  whether  or  not  material,  that  involves  management or other
employees who have a significant role in the registrant's internal controls; and

6.     The  registrant's  other certifying officers and I have indicated in this
annual report whether or not there were significant changes in internal controls
or in other factors that could significantly affect internal controls subsequent
to the date of our most recent evaluation, including any corrective actions with
regard  to  significant  deficiencies  and  material  weaknesses.

DATE:  April  23,  2003

                    /s/  COLIN  WATT
                    ------------------
                    President

<PAGE>
Page  19


Amisano  Hanson
Chartered  Accountants



INDEPENDENT  AUDITORS'  REPORT

To  the  Stockholders,
Columbia  Hunter  Capital  Corp.



We  have  audited  the  accompanying  balance  sheet  of Columbia Hunter Capital
Corp.  (A  Development  Stage  Company)  as  of October 31, 2002 and the related
statements  of  operations,  stockholders'  equity  and  cash flows for the year
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  audit.



We  conducted  our  audit  in  accordance  with  auditing  standards  generally
       accepted in the United States of America. Those standards require that we
plan  and  perform  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  audit  provides  a  reasonable  basis  for  our  opinion.



In  our  opinion,  these  financial  statements  referred  to  above  present
fairly,  in  all  material  respects,  the  financial  position  of  Columbia
Hunter  Capital  Corp.  as  of  October  31,  2002  and  the  results  of  its
operations  and  its  cash  flows  for  the  year then ended, in conformity with
accounting  principles  generally  accepted  in  the  United  States of America.



The  accompanying  financial  statements  referred  to  above have been prepared
assuming  that  the  Company  will  continue  as  a going concern.  As discussed
in  Note  1  to  the  financial  statements,  the  Company is in the development
stage  and  has  no  established  source  of  revenue  and  is  dependent on its
ability  to  raise  capital  from  shareholders  or  other  sources  to  sustain
operations.  These  factors,  along  with  other  matters  as  set forth in Note
1,  raise  substantial  doubt  that  the  Company  will be able to continue as a
going  concern.  The  financial  statements  do  not  include  any  adjustments
that  might  result  from  the  outcome  of  this  uncertainty.



The  financial  statements  as  at  October  31,  2001  and  for  the  year then
ended  were  audited  by  other  auditors  who  expressed  an  opinion  without
reservation  on  those  financial  statements  in  their  report  dated February
22,  2002.

Vancouver,  Canada
                         "AMISANO  HANSON"

March  12,  2003
               Chartered  Accountants


<Page>
F-1


                    COLUMBIA  HUNTER  CAPITAL  CORP.
                    (A  Development  Stage  Company)
                         BALANCE  SHEETS
                    October  31,  2002  and  2001
                    (Stated  in  US  Dollars)


                    ASSETS         2002          2001

Incorporation  costs               $     -     $   725
                                   -------     -------
                    LIABILITIES

Current
Accounts  payable  and  accrued
Liabilities                        $ 2,875     $ 1,375
                                   -------     -------
               STOCKHOLDERS'  DEFICIENCY

Common  stock,  $0.001  par  value
1,000,000  shares  authorized
725,000  shares  outstanding           725         725
                                   -------     -------
Deficit  accumulated  during  the
development  stage                 (3,600)     (1,375)
                                   -------     -------
                                   (2,875)       (650)
                                   -------     -------
                                   $     -     $   725
                                   -------     -------


Nature  and  Continuance  of  Operations  -Note  1

<Page>
F-2


                    COLUMBIA  HUNTER  CAPITAL  CORP.
                    (A  Development  Stage  Company)
                      STATEMENTS  OF  OPERATIONS
               for  the  years  ended  October  31,  2002  and  2001
          for  the  period  October  18,  2000  (Date  of  Incorporation) to
                October 31,  2000 and for the period October 18, 2000
            (Date of Incorporation) to October 31,  2002
                         (Stated  in  US  Dollars)


                                                      October  18,  October  18,
                                                      2000  (Date   2000  (Date
                                                      of  Incor-    of  Incor-
                                 Year  ended          poration)  to poration) to
                                October  31,          October  31,  October  31,
                                  2002       2001     2000          2002

Expenses
Accounting  and  audit  fees     $  1,500    $  500   $  500        $  2,500
Legal  fees                             -       375        -             375
Write-off  of  incorporation  costs   725         -        -             725
                                 --------    ------   -------       --------
Net  loss  for  the  period      $(2,225)    $(875)   $ (500)       $(3,600)
                                 --------    ------   -------       --------

Loss  per  share                $(0.00)      $(0.00)  $(0.00)
                                -------      -------  --------



Weighted  average  number  of  shares
outstanding                    725,000       725,000  725,000
                              -------        -------  --------


<Page>
F-3



                    COLUMBIA  HUNTER  CAPITAL  CORP.
                    (A  Development  Stage  Company)
                    STATEMENTS  OF  CASH  FLOWS
               for  the  years  ended  October  31,  2002  and  2001
          for  the  period  October  18,  2000  (Date  of  Incorporation) to
                October 31,  2000 and for the period October 18, 2000
            (Date of Incorporation) to October 31,  2002
                         (Stated  in  US  Dollars)


                                                      October  18,  October  18,
                                                      2000  (Date   2000  (Date
                                                      of  Incor-    of  Incor-
                                 Year  ended          poration)  to poration) to
                                October  31,          October  31,  October  31,
                                  2002       2001     2000          2002


Cash  Flows  from  Operating  Activities
Net  loss  for  the  period       $(2,225)  $(875)    $(500)       $(3,600)

Adjustments  to  reconcile  net  loss  to  net
cash  provided  by  operating  activities




Change  in  accounts  payable  and
accrued  liabilities                 1,500     875       500          2,875
Write-off  of  incorporation  costs    725       -         -            725
                                     --------------------------------------
                                         -       -         -              -
                                     --------------------------------------
Cash  Flows  from  Investing  Activity
Incorporation  costs                     -       -     (725)          (725)
                                     --------------------------------------
Cash  Flows  from  Financing  Activity
Shares  issued  for  cash                -       -       725            725
                                     --------------------------------------
Increase  in  cash  during  the
period                                   -       -         -              -

Cash,  beginning  of  the  period        -       -         -              -
                                     --------------------------------------
Cash,  end  of  the  period       $      -  $    -    $    -       $      -
                                     --------------------------------------


Supplementary  disclosure  of  cash  flow
 information:
Cash  paid  for:
Interest                    $    -  $  -     $    -     $      -
                                 --------------------------------------
Income  taxes               $    -  $  -     $    -     $      -
                                 --------------------------------------

<Page>
F-4



                    COLUMBIA  HUNTER  CAPITAL  CORP.
                    (A  Development  Stage  Company)
                    STATEMENT  OF  STOCKHOLDERS'  EQUITY
                    for  the  period  October  18,  2000
                (Date  of  Incorporation) to October  31,  2002
                    (Stated  in  US  Dollars)

                                                           Deficit
                                                           Accumulated
                                                           During  the
                                    Common  Shares         Development
                                 Number     Par  Value     Stage          Total



Capital  stock  subscribed
pursuant  to  subscription
agreement,  for  cash  -
at  $0.001                       725,000     $725          $     -     $     725

Net loss for the period                -        -             (500)        (500)

Balance,  October  31,  2000     725,000      725             (500)          225
Net  loss  for  the year               -        -             (875)        (875)

Balance,  October  31, 2001      725,000      725           (1,375)        (650)
Net  loss  for  the  year              -        -           (2,225)      (2,225)


Balance,  October  31, 2002      725,000     $725          $(3,600)     $(2,875)




<Page>
F-5


                         COLUMBIA  HUNTER  CAPITAL  CORP.
                         (A  Development  Stage  Company)
                         NOTES  TO  THE  FINANCIAL  STATEMENTS
                         October  31,  2002  and  2001
                         (Stated  in  US  Dollars)


Note  1     Nature  and  Continuance  of  Operations

The  Company  is  a  development  stage  company and was incorporated on October
18,  2000  in  the  State  of  Delaware,  United  States  of  America.

These  financial  statements  have  been  prepared  on  a  going  concern basis.
The  Company  has  accumulated  a  deficit  of  $3,600 since inception and has a
working  capital  deficiency  of  $2,875  at  October  31, 2002.  Its ability to
continue  as  a  going  concern  is  dependent  upon  the ability of the Company
to  generate  profitable  operations  in  the  future  and/or  to  obtain  the
necessary  financing  to  meet  its  obligations  and  repay  its  liabilities
arising  from  normal  business  operations  when  they  come  due.  The outcome
of  these  matters  cannot  be  predicted,  with  any  certainty,  at this time.

Note  2     Summary  of  Significant  Accounting  Policies

The  financial  statements  of  the  Company  have  been  prepared in accordance
with  generally  accepted  accounting  principles  in  the  United  States  of
America.  Because  a  precise  determination  of  many  assets  and  liabilities
is  dependent  upon  future  events,  the  preparation  of  financial statements
for  a  period  necessarily  involves  the  use  of  estimates,  which have been
made  using  careful  judgement.  Actual  results  may  vary  from  these
estimates.

The  financial  statements  have,  in  management's  opinion,  been  properly
prepared  within  reasonable  limits  of  materiality  and  within the framework
of  the  significant  accounting  policies  summarized  below:

Development  Stage


The  Company  is  a  development  stage  company  as  defined  in  Statement  of
Financial  Accounting  Standards  No.  7  as  it  is  devoting substantially all
of  its  efforts  to  establish  a  new  business  and  planned  principal
operations  have  not  commenced.

Income  Taxes


The  Company  uses  the  liability  method  of  accounting  for  income  taxes
pursuant  to  Statement  of  Financial  Accounting  Standards,  No.  109
"Accounting  for  Income  Taxes".

Basic  Loss  Per  Share


The  Company  reports  basic  loss  per  share  in  accordance  with  the
 Statement  of  Financial  Accounting  Standards  No.  128,
"Earnings  Per  Share".  Basic  loss  per  share  is  computed
using  the  weighted  average  number  of  shares  outstanding
during  the  period.

<Page>
F-6


Note  2     Summary  of  Significant  Accounting  Policies  -  (cont'd)

Fair  Value  of  Financial  Instruments


The  carrying  value  of  accounts  payable  and  accrued  liabilities
approximates  fair  value  because  of  the  short  maturity  of  these
instruments.  Unless  otherwise  noted,  it  is  management's  opinion  that the
Company  is  not  exposed  to  significant  interest,  currency  or credit risks
arising  from  these  financial  instruments.

New  Accounting  Standards


Management  does  not  believe  that  any  recently  issued,  but  not  yet
effective  accounting  standards  if  currently  adopted  could  have a material
effect  on  the  accompanying  financial  statements.

Note  3     Deferred  Tax  Assets

The  Financial  Accounting  Standards  Board  issued  Statement  Number  109  in
Accounting  for  Income  Taxes  ('FAS  109')  which  is  effective  for  fiscal
years  beginning  after  March  15,  1992.  FAS  109  requires  the  use  of the
asset  and  liability  method  of  accounting  of  income  taxes.  Under  the
assets  and  liability  method  of  FAS  109, deferred tax assts and liabilities
are  recognized  for  the  future  tax  consequences  attributable  to temporary
differences  between  the  financial  statements  carrying  amounts  of existing
assets  and  liabilities  and  their  respective  tax  bases.  Deferred  tax
assets  and  liabilities  are  measured  using  enacted  tax  rates  expected to
apply  to  taxable  income  in  the  years  in which those temporary differences
are  expected  to  be  recovered  or  settled.

The  following  table  summarizes  the  significant  components of the Company's
deferred  tax  assets:

                                                     Total

Deferred  Tax  Assets
Non-capital  loss  carryforward                      $  540

Gross  deferred  tax  assets                         $  540
Valuation  allowance  for  deferred  tax  asset       (540)

                                                     $   -

The  amount  taken  into  income  as  deferred  tax  assets  must  reflect  that
portion  of  the  income  tax  loss  carryforwards that is likely to be realized
from  future  operations.  The  Company  has  chosen  to provide an allowance of
100%  against  all  available  income  tax  loss  carryforwards,  regardless
of  their  time  of  expiry.

<Page>
F-7

Note  4     Income  Taxes

No  provision  for  income  taxes  has  been  provided  in  these  financial
statements  due  to  the  net  loss.  At  October  31,  2002 the Company has net
operating  loss  carryforwards,  which  expire  commencing  in  2015,  totalling
approximately  $3,600,  the  benefit  of  which  has  not  been  recorded in the
financial  statements.

SEE  ACCOMPANYING  NOTES

<Page>
F-8