UNITED STATES
                    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 September 30, 2003

     [ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
          SECURITIES EXCHANGE ACT OF 1934

     For the transition period from ________ to __________

          Commission File Number: 0-32329

                            ALNILAM CORPORATION
            (Exact name of Registrant as specified in charter)

NEVADA                             91-2081398
State or other jurisdiction of     I.R.S. Employer I.D. No.
incorporation or organization

3857 BIRCH STREET, #606, NEWPORT BEACH, CA        92660
(Address of principal executive offices)          (Zip Code)

Issuer's telephone number, including area code:  (949) 644-0095

Securities registered pursuant to Section 12(b) of the Act:  None

Securities registered pursuant to Section 12(g) of the Act:  Common Stock,
Par Value $.001

Check whether the Issuer (1) has 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.
(1) Yes [X] No [ ]   (2) Yes [X] No [ ]

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

State issuer's revenues for its most recent fiscal year:  $ -0-

<PAGE>

State the aggregate market value of the voting stock held by non-affiliates
of the Registrant 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:  The aggregate market value of the voting
stock held by non-affiliates of the Registrant computed by using the
closing sale price has been indeterminable within the past 60 days as there
has been no market for the stock.

State the number of shares outstanding of each of the Issuer's classes of
common equity as of the latest practicable date:  At December 29, 2003,
there were 1,000,000 shares of the Registrant's Common stock outstanding.

Documents Incorporated by Reference:  Exhibits from the Registrant's
registration statement on Form 10-SB (File No. 0-32329) are incorporated by
reference into Part III hereof.

                                  PART I

                     ITEM 1.  DESCRIPTION OF BUSINESS

History and Organization

     Alnilam Corporation (the "Company") was incorporated under the laws of
the State of Nevada on May 10, 2000.  The Company has conducted no
activities since its inception except in connection with the filing of a
registration statement on Form 10-SB on February 9, 2001.  The registration
statement became effective on April 10, 2001.

Proposed Business

     The Company is seeking potential business acquisitions or
opportunities to enter into in an effort to commence business operations.
The Company does not propose to restrict its search for a business
opportunity to any particular industry or geographical area and may,
therefore, engage in essentially any business in any industry.  The Company
has unrestricted discretion in seeking and participating in a business
opportunity.

     The Company's Board of Directors, which consists of a single
individual, Jason Daggett, shall make the initial determination whether to
complete any such venture; however, the Board of Directors intends to
submit final approval of any proposed transaction to the shareholders.  In
connection with such approval by the shareholders, the Company intends to
provide disclosure documentation to its shareholders as required under
Section 14 of the Securities Exchange Act of 1934, and the rules and
regulations promulgated thereunder.

     The selection of a business opportunity in which to participate is
complex and risky.  Additionally, as the Company has only limited resources
available to it, it may be difficult to find good opportunities.  There can
be no assurance that the Company will be able to identify and acquire any
business opportunity based on management's business judgement.

                                     2
<PAGE>

     The Company has not begun any negotiations with potential business
ventures.  Management decided to file its Registration Statement on a
voluntary basis before seeking a business venture.  Management believes
that being a reporting company may increase the likelihood that existing
business ventures may be willing to negotiate with the Company.  The
Company also intends to seek quotation of its common stock on the OTC
Bulletin Board following such an acquisition or merger transaction.  In
order to have stock quoted on the OTC Bulletin Board, a company must be
subject to the reporting requirements of the 1934 Act, either by virtue of
filing a registration statement on Form 10 or Form 10-SB, or by filing a
registration statement under the 1933 Act.  The Company anticipates that it
would voluntarily file periodic reports with the Securities and Exchange
Commission, in the event its obligation to file such reports is terminated
under the Securities Exchange Act of 1934, if the common stock of the
Company were quoted on the OTC Bulletin Board.

     In connection with the application for quotation of the Company's
common stock on the OTC Bulletin Board, management intends, following an
acquisition of a business venture, to seek a broker-dealer to become the
initial market maker for the Company's common stock and to submit the
application to the OTC Bulletin Board.  There have been no preliminary
discussions or understandings between the Company, or anyone acting on its
behalf, and any market maker regarding such application or the
participation of any such market maker in the future trading market for the
Company's common stock.  Management intends to contact broker-dealers who
make markets in Bulletin Board companies until one agrees to make the
application.  There is no assurance that the Company will be successful in
locating such a broker-dealer, or that the application, if submitted, would
be approved.  The Company does not intend to use outside consultants to
obtain market makers.  In addition, the Company does not intend to use any
of its shareholders to obtain market makers.

     Management intends to consider a number of factors prior to making any
final decision as to whether to participate in any specific business
endeavor, none of which may be determinative or provide any assurance of
success.  These may include, but will not be limited to, an analysis of the
quality of the entity's management personnel; the anticipated acceptability
of any new products or marketing concepts; the merit of technological
changes; its present financial condition, projected growth potential and
available technical, financial and managerial resources; its working
capital, history of operations and future prospects; the nature of its
present and expected competition; the quality and experience of its
management services and the depth of its management; its potential for
further research, development or exploration; risk factors specifically
related to its business operations; its potential for growth, expansion and
profit; the perceived public recognition or acceptance of its products,
services, trademarks and name identification; and numerous other factors
which are difficult, if not impossible, to properly or accurately analyze,
let alone describe or identify, without referring to specific objective
criteria.

      Regardless, the results of operations of any specific entity may not
necessarily be indicative of what may occur in the future, by reason of
changing market strategies, plant or product expansion, changes in product
emphasis, future management personnel and changes in  innumerable other
factors.  Further, in the case of a new business venture or one that is in
a research and development stage, the risks will be substantial, and there
will be no objective criteria to examine the effectiveness or the abilities
of its management or its business objectives.

                                     3
<PAGE>

Also, a firm market for its products or services may yet need to be
established, and with no past track record, the profitability of any such
entity will be unproven and cannot be predicted with any certainty.

     Management will attempt to meet personally with management and key
personnel of the entity sponsoring any business opportunity afforded to the
Company, visit and inspect material facilities, obtain independent analysis
or verification of information provided and gathered, check references of
management and key personnel and conduct other reasonably prudent measures
calculated to ensure a reasonably thorough review of any particular
business opportunity; however, due to time constraints of management, these
activities may be limited.

     The Company is unable to predict the time as to when and if it may
actually participate in any specific business endeavor.  The Company
anticipates that proposed business ventures will be made available to it
through personal contacts of directors, executive officers and
stockholders, professional advisors, broker dealers in securities, venture
capital personnel, members of the financial community, attorneys, and
others who may present unsolicited proposals.  In certain cases, the
Company may agree to pay a finder's fee or to otherwise compensate the
persons who submit a potential business endeavor in which the Company
eventually participates.  Such persons may include the Company's directors,
executive officers, beneficial owners or their affiliates.  In this event,
such fees may become a factor in negotiations regarding a potential
acquisition and, accordingly, may present a conflict of interest for such
individuals.

     The Company's director and executive officers have not used particular
consultants, advisors or finders on a regular basis to locate potential
business opportunities.

     The possibility exists that the Company may acquire or merge with a
business or company in which the Company's executive officers, director,
beneficial owners or their affiliates may have an ownership interest.
Current Company policy does not prohibit such transactions.  Because no
such transaction is currently contemplated, it is impossible to estimate
the potential pecuniary benefits to these persons.

     Although it currently has no plans to do so, depending on the nature
and extent of services rendered, the Company may compensate members of
management in the future for services that they may perform for the
Company.  Because the Company currently has extremely limited resources,
and is unlikely to have any significant resources until it has completed a
merger or acquisition, management expects that any such compensation would
take the form of an issuance of the Company's stock to these persons; this
would have the effect of further diluting the holdings of the Company's
other stockholders.  However, due to the minimal amount of time devoted to
management by any person other than the Company's current sole director and
the executive officers, there are no preliminary agreements or
understandings with respect to management compensation.  Although it is not
prohibited by statute or its Articles of Incorporation, the Company has no
plans to borrow funds and use the proceeds to make payment to its
management, promoters or affiliates.

                                     4
<PAGE>

     Further, substantial fees are often paid in connection with the
completion of these types of acquisitions, reorganizations or mergers,
ranging from a small amount to as much as $250,000.  These fees are usually
divided among promoters or founders, after deduction of legal, accounting
and other related expenses, and it is not unusual for a portion of these
fees to be paid to members of management or to principal stockholders as
consideration for their agreement to retire a portion of the shares of
common stock owned by them.  However, management does not presently
anticipate actively negotiating or otherwise consenting to the purchase of
all or any portion of its common stock as a condition to, or in connection
with, a proposed merger or acquisition.  In the event that such fees are
paid, they may become a factor in negotiations regarding any potential
acquisition by the Company and, accordingly, may present a conflict of
interest for such individuals.

     The activities of the Company are subject to several significant risks
which arise primarily as a result of the fact that the Company has no
specific business and may acquire or participate in a business opportunity
based on the decision of management, subject to the approval of the
Company's shareholders.  The risks faced by the Company are further
increased as a result of its lack of resources and its inability to provide
a prospective business opportunity with significant capital.

     The Company has had no employees since its inception and does not
intend to employ anyone in the future, unless its present business
operations were to change.  The Company is not paying salaries or other
forms of compensation to its present officers and director for his time and
effort.  Unless otherwise agreed to by the Company, the Company does intend
to reimburse its officers and directors for out-of-pocket expenses.

Status as a Pseudo California Corporation.

     Section 2115 of the California General Corporation Law subjects
certain foreign corporations doing business in California to various
substantive provisions of the California General Corporation Law in the
event that the average of its property, payroll and sales is more than 50%
in California and more than one-half of its outstanding voting securities
are held of record by persons residing in the State of California.
Notwithstanding the fact that the Company currently has no property,
payroll, or sales, it may still be considered a pseudo California
corporation, even though it was incorporated under the laws of the State of
Nevada.  The designation as a pseudo California corporation would continue
until the end of the first year following a year in which we did not meet
the test.

     Some of the substantive provisions applicable to a pseudo California
corporation include: (i) under Section 305 of California corporate law, if
a vacancy in our board of directors is filled by the remaining directors
and the directors appointed by the board constitute a majority, any
shareholders owning an aggregate of 5% or more of the outstanding shares
have the right to call a special meeting of shareholders to elect the
entire board; (ii) under Section 506 of California corporate law
shareholders receiving any prohibited distribution for dividends,
liquidation, redemption of shares, or similar transaction, with knowledge
of facts indicating the impropriety thereof is liable to the corporation
for the benefit of all of the creditors or shareholders entitled to
institute action for the amount so received by the shareholder;
(iii) Section 710 of California

                                     5
<PAGE>

corporate law also limits the ability of a corporation to provide for
super-voting shares by requiring approval of super-voting provisions by at
least as large a portion of the outstanding shares as is required pursuant
to the super-voting provisions and renewal of the provisions by the same
portion every two years; (iv) under Section 1300 of California corporate
law shareholders shall have the right to vote, and shall have dissenters
rights, in any transaction resulting in a change of control or in an
acquisition of all or substantially all of the assets of another corporation;
(v) under Section 1600 any shareholder or shareholders owning at least 5%
of the outstanding shares may inspect and copy the record of shareholders'
names and addresses or may obtain a shareholders' list from the transfer
agent; and, (vi) Section 1601 also permits any shareholder to inspect the
accounting books and records and minutes of proceedings of the shareholders
and the board and committees, provided that the inspection is for a purpose
reasonably related to the shareholder's interests as a shareholder.

                     ITEM 2.  DESCRIPTION OF PROPERTY

     The Company neither owns nor leases any office space, real property,
or equipment.

                        ITEM 3.  LEGAL PROCEEDINGS

     No legal proceedings are reportable pursuant to this item.

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

     No matters were submitted to a vote of shareholders of the Company
during the fourth quarter of the fiscal year ended September 30, 2003.


                                  PART II

ITEM 5.  MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS AND SMALL
BUSINESS ISSUER PURCHASES OF EQUITY SECURITIES

     There is no established trading market for the common stock of the
Company.

     None of the common shares are subject to outstanding options or
warrants, nor are there any other outstanding securities convertible into
shares of Common stock.  Of the 1,000,000 outstanding common shares, all
have been held for at least one year.  The Company is aware that the staff
of the Securities and Exchange Commission has taken the position that Rule
144 would not be available for shares issued at a time during which an
issuer was a blank check issuer and that these shares could only be resold
through a registered offering.  Management has determined that if such
position were to apply to the shares issued in the organization of the
Company, it would agree to register, at no cost to the selling
shareholders, the resale of such shares for these parties.  The Company has
expressly granted piggy-back registration rights to register 49,500 shares
issued to counsel for the Company.  The Company has not proposed to
publicly offer any shares of Common stock.

                                     6
<PAGE>

     At December 29, 2003, the Company had 27 shareholders of record.  The
Company has appointed Interwest Transfer Company, Inc., 1981 East 4800
South, Suite 100, Salt Lake City, UT 84117, to act as its transfer agent.

     Since its inception, the Company has not paid any dividends on its
common stock and the Company does not anticipate that it will pay dividends
in the foreseeable future.

     The Company has not adopted any equity compensation plans.

     During the year ended September 30, 2003, no securities were sold by
the Company.

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

     The Company has not commenced development of any business.  Since its
inception, the Company has had no operations.  The Company was organized
for the purpose of engaging in any lawful activity permitted under Nevada
state law; however, the Company does not have any significant cash or other
material assets, nor does it have an established source of revenues
sufficient to cover operating costs and to allow it to continue as a going
concern.  The Company intends to take advantage of any reasonable business
proposal presented which management believes will provide the Company and
its stockholders with a viable business opportunity.  The board of
directors will make the final approval in determining whether to complete
any acquisition, but will submit the proposal to the shareholders for final
approval.

     The original shareholders contributed a total of $7,365 in cash and
$2,635 in services as capital contributions for stock of the Company.
Rigel Funds Management, Ltd., an entity of which Eric C. Bronk, a
shareholder of the Company, is a director, loaned $14,835 to the Company at
its inception for operating expenses.  (See "Item 12.  Certain
Relationships and Related Transactions.")  The note payable to Rigel Funds
Management, Ltd. is due and payable upon demand.  The accumulated interest
to September 30, 2003, is $4,576.  If the company is unable to find a
suitable business by the time the note is called due, it is anticipated
that the Company would try to renegotiate the term of the note.

     Management estimates that the cash requirements for the year ending
September 30, 2004, will be approximately $9,000, if no change in
operations occurs during the year.  Management anticipates that the needed
funds will be loaned to the Company by Rigel Funds Management, Ltd. on the
same or similar terms as those of the original loan to the Company.  There
is no agreement with Rigel Funds Management, Ltd. and no assurance that all
or a portion of these funds will be loaned to the Company.  If Rigel Funds
Management, Ltd. is unwilling or unable to loan such funds to the Company,
management will seek other sources of funding which are currently unknown
to management.  There is no assurance that such funding would be available,
or that if it is made available, it could be obtained on terms favorable to
the Company.

     The investigation of specific business opportunities and the
negotiation, drafting, and execution of relevant agreements, disclosure
documents, and other instruments will require substantial management time
and attention and will require the Company to incur costs for payment of
accountants, attorneys, and others.  If a decision is made not to
participate in or

                                     7
<PAGE>

complete the acquisition of a specific business opportunity, the costs
incurred in a related investigation will not be recoverable.  Further, even
if an agreement is reached for the participation in a specific business
opportunity by way of investment or otherwise, the failure to consummate
the particular transaction may result in the loss to the Company of all
related costs incurred.

     Currently, management is not able to determine the time or resources
that will be necessary to locate and acquire or merge with a business
prospect.  There is no assurance that the Company will be able to acquire
an interest in any such prospects, products, or opportunities that may
exist or that any activity of the Company, regardless of the completion of
any transaction, will be profitable.  If and when the Company locates a
business opportunity, management of the Company will give consideration to
the dollar amount of that entity's profitable operations and the adequacy
of its working capital in determining the terms and conditions under which
the Company would consummate such an acquisition.  Potential business
opportunities, no matter which form they may take, will most likely result
in substantial dilution for the Company's shareholders due to the likely
issuance of stock to acquire such an opportunity.

Off-Balance Sheet Arrangements

     There are currently no off-balance sheet arrangements.  Until the
Company is able to locate a potential business for acquisition or business
prospect to merge with, there will likely not be any arrangements.

     There is no assurance that the Company will be able to acquire an
interest in any such prospects, products, or opportunities that may exist
or that any activity of the Company, regardless of the completion of any
transaction, will be profitable.  If and when the Company locates a
business opportunity, management of the Company will give consideration to
the dollar amount of that entity's profitable operations and the adequacy
of its working capital in determining the terms and conditions under which
the Company would consummate such an acquisition.  Potential business
opportunities, no matter which form they may take, will most likely result
in substantial dilution for the Company's shareholders due to the likely
issuance of stock to acquire such an opportunity.

                       ITEM 7.  FINANCIAL STATEMENTS

     The financial statements of the Company required by this item are set
forth immediately following the signature page of this annual report.

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

     No change in accountant is reportable pursuant to this item.

                                     8
<PAGE>

                     ITEM 8A.  CONTROLS AND PROCEDURES

     The Company maintains disclosure controls and procedures that are
designed to ensure that information required to be disclosed in the
Company's Exchange Act reports is recorded, processed, summarized and
reported within the time periods specified in the SEC's rules and forms,
and that such information is accumulated and communicated to the Company's
management to allow timely decisions regarding required disclosure.

     The Company recently carried out an evaluation, under the supervision
of the Company's President and Principal Financial Officer of the
effectiveness of the design and operation of the Company's disclosure
controls and procedures pursuant to Exchange Act Rule 13a-14.  Based upon
this evaluation, the Company's President and Principal Financial Officer
concluded the Company's disclosure controls and procedures are effective in
timely alerting him to material information relating to the Company
required to be included in the Company's Exchange Act reports.  There have
been no significant changes in internal control over financial reporting
during the year ended September 30, 2003.


                                 PART III

        ITEM 9.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

     The following table sets forth as of December 29, 2003, the name, age,
and position of the executive officers and sole director of the Company and
the term of office of such director:

     Name            Age   Position(s)                  Director Since

     Jason Daggett   31    Director, President &        May 2000
                           Treasurer
     Lynn Carlson    49    Vice-President & Secretary   --

     Directors are elected for a term of one year and until their
successors are elected and qualified.  Annual meetings of the stockholders,
for the selection of directors to succeed those whose terms expire, are to
be held at such time each year as designated by the Board of Directors.  The
Board of Directors has not selected a date for the next annual meeting of
shareholders.  Officers of the Company are elected by the Board of
Directors, which is required to consider that subject at its first meeting
after every annual meeting of stockholders.  Each officer holds his office
until his successor is elected and qualified or until his earlier
resignation or removal.

     Set forth below is certain biographical information regarding the
Company's current executive officers and sole director:

     JASON DAGGETT has been the president and treaturer of the Company
since its inception in May 2000.  He has been the president of BDR
Showalter, a financial services company in Las Vegas, Nevada, since 1999.
Since 1999 he has also been the President of

                                     9
<PAGE>

Monico Capital Partners, LLC, a financial services company located in Los
Angeles, California.  Monico Capital addresses the financial needs of high
net worth individuals and small institutions with a focus in the areas of
early stage funding, mergers and acquisitions.  Monico Capital is 50% owned
by Cygni Capital LLC.  From 1996 through 1998, Mr. Daggett served retail
and institutional clients at The Boston Group, a Century City, California,
investment banking firm, and First Financial Services, a pension and 401K
advisory firm.  Mr. Daggett received his Bachelor of Science degree in
psychology from Mercyhurst College in 1994, and received his Masters Degree
in Clinical Psychology from Pepperdine University in 1996.

     LYNN CARLSON has been the secretary and vice-president of the Company
since its inception in May 2000.  She has worked for Cygni Capital LLC, an
investor and corporate relations firm, since November 1998 as an
administrative assistant and account executive.  From June 1996 to November
1998, Ms. Carlson worked as the assistant to the president for DGWB
Advertising.

     Management devotes only nominal time to the activities of the Company.
If the Company is able to locate a suitable new business venture, it is
anticipated that Mr. Daggett will devote substantially all of his time to
completing the acquisition.

     There are no other employees who are expected to make a significant
contribution to the business and there are no intentions to employ anyone
until business operations change.

     There are no family relationships between any of the officers and the
director or persons nominated to become directors or executive officers.

     None of the officers, the director, persons nominated to become a
director, any promoters or control persons of the Company have, within the
last five years, been involved in events material to an evaluation of their
ability or integrity.

     The entire board of directors of the Company is currently acting as
the audit committee.  There is no financial expert currently on the audit
committee as there is no current activity in the Company.

     There are no established procedures for security holders to recommend
nominees for the board of directors.

Other Public Shell Activities

     Mr. Daggett has not been involved as a director or executive officer
of other companies that may be deemed to be "blank check" companies, and
has not been involved in any blank check public offerings.

                                     10
<PAGE>

Code of Ethics

     The Company has not adopted a code of ethics that applies to the
Company's principal executive officer, principal financial officer,
principal accounting officer or controller, or persons performing similar
functions, because it has not commenced development of its business.

Section 16(a) Beneficial Ownership Reporting Compliance

     Section 16(a) of the Securities Exchange Act of 1934 requires the
Company's directors, executive officers and persons who own beneficially
more than 10% of the Company's outstanding common stock to file with the
Securities and Exchange Commission initial reports of ownership and reports
of changes in their ownership of the Company's common stock.  Directors,
executive officers and greater than 10% shareholders are required to
furnish the Company with copies of the forms they file.

     To the knowledge of the Company, based on a review of the copies of
these reports furnished to the Company for the year ended September 31,
2003, or on written representations from certain reporting persons that no
Forms 5 were required for those persons, two filings were not timely made.
On May 15, 2003, Mezzanine Capital Ltd. amalgamated into Mezzanine Fund
Management Ltd.  On May 28, 2003 Mezzanine Fund Management Ltd. changed its
name to Rigel Funds Management Ltd.  As a result of the transaction
Mr. Eric Bronk no longer shares voting power of the shares of the Company
owned by Rigel Funds Management.  Due to an administrative oversight, the
transaction was not reported by Mr. Bronk on Form 4 in a timely manner.  In
addition, Mr. Bronk has not filed his Form 5 report for 2003.

                     ITEM 10.  EXECUTIVE COMPENSATION

     There has been no compensation awarded to, earned by, or paid to any
of the executive officers of the Company since its inception.  However,
Mr. Daggett and Ms. Carlson, executive officers of the Company, received 20,000
and 15,000 shares respectively of restricted stock of the Company for
services rendered in connection with the organization of the Company in May
2000.

     The Company has no employment or compensation agreements or
arrangements with either of its officers.

     Directors are permitted to receive fixed fees and other compensation
for their services as directors, as determined by the Board of Directors.
The Board of Directors has not adopted any policy in regard to the payment
of fees or other compensation to directors, and no fees or compensation
have been paid to, or accrued by, the present director.

                                     11
<PAGE>

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

     The following table sets forth certain information furnished by
current management concerning the ownership of common stock of the Company
as of December 29, 2003, of (i) each person who is known to the Company to
be the beneficial owner of more than 5 percent of the Common stock;
(ii) all directors and executive officers; and (iii) directors and executive
officers of the Company as a group:

                              Amount and Nature
Name and Address              of Beneficial
of Beneficial Owner           Ownership (1)            Percent of Class

Jason Daggett                 20,000                   2.0%
3857 Birch St., #606
Newport Beach, CA 92660

Lynn Carlson                  15,000                   1.5%
3857 Birch St., #606
Newport Beach, CA 92660

Executive Officers and        35,000                   3.5%
Directors as a Group
(2 Persons)

Eric C. Bronk                 119,500(2)               12.0%
3857 Birch St., #606
Newport Beach, CA 92660

Rigel Funds Management Ltd.   99,500                   10.0%
Cumberland House
No. 27 Cumberland Street
P.O. Box  N-10818
Nassau, The Bahamas

Fleming Securities            95,000                   9.5%
Suites 1601-1603
Hollywood Rd.
Hong Kong

Baldwin Investments Ltd.      89,500                   8.95%
99-101 Regent St.
First Floor
London W1R 7HB UK

                                     12
<PAGE>

Carl T. Suter                 79,500                   7.95%
3857 Birch St., #606
Newport Beach, CA 92660

     (1) Unless otherwise indicated, this column reflects amounts as to
which the beneficial owner has sole voting power and sole investment power.
     (2) Of the shares beneficially owned by Mr. Bronk, 20,000 are owned
directly by Suter GC Trust, a trust for which Mr. Bronk is the trustee.
While Mr. Bronk disclaims any pecuniary interest in these shares, he is
deemed to share beneficial ownership of such shares with these entities.

     The Company is seeking potential business acquisitions or
opportunities.  (See "Item 1.  Description of Business.")  It is likely
that such a transaction would result in a change of control of the Company,
by virtue of issuing a controlling number of shares in the transaction,
change of management, or otherwise.

     The Company has not adopted any equity compensation plans.

         ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     In connection with the organization of the Company in May 2000, Jason
Daggett, an officer, sole director and a founder of the Company, received
20,000 shares for services rendered by to the Company.  Mr. Daggett
provided consulting services in connection with the organization of the
Company, which services were valued at $200.

     In connection with the organization of the Company in May 2000, Lynn
Carlson, an officer of the Company, received 15,000 shares for services
rendered by to the Company.  Ms. Carlson provided secretarial services in
connection with the organization of the Company, which services were valued
at $150.

     In connection with the organization of the Company in May 2000, Eric
C. Bronk, a shareholder and founder of the Company, received 99,500 shares
for services rendered by to the Company.  Mr. Bronk provided consulting
services in connection with the organization of the Company, which services
were valued at $995.

     On September 1, 2000, Rigel Funds Management, Ltd., a corporation of
which Mr. Bronk, a shareholder of the Company, is a director, loaned
$14,835 to the Company.  The promissory note bears 10% interest per annum
and was originally due on or before September 1, 2001.  The note has been
extended to be due and payable upon demand.

     On December 31, 2002, Cygni Capital LLC, a limited liability company
of which Mr. Daggett is a member, loaned $1,951 to the Company.  The
promissory note bears 10% interest per annum and is due and payable upon
demand.

                                     13
<PAGE>

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

     (a)(1)    Financial Statements.  The following financial statements
are included in this report:
                                                                  Page
          Report of Auditor                                       F-1
          Balance Sheet as of September 30, 2003                  F-2
          Statement of Operations for the years ended September
            30, 2003 and 2002, and for the period Accumulated
            May 10, 2000 (inception) through September 30, 2003   F-3
          Statement of Stockholders' Equity for the Period
            May 10, 2000 (inception) to September 30, 2003        F-4
          Statement of Cash Flows for the years ended September
            30, 2003 and 2002, and for the period Accumulated
            May 10, 2000 (inception) through September 30, 2003   F-5
          Notes to Financial Statements                           F-6

     (a)(2)    Exhibits.  The following exhibits are included as part of
this report:

     Exhibit No.  Description of Exhibit                            Location
     3.1          Articles of Incorporation filed May 10, 2000         *
     3.2          Current Bylaws                                       *
     4.1          Form of Common Stock Certificate                     *
     31.1         Certification of the Principal Executive Officer
                  pursuant to Rule 13(a)-14                         Attached
     31.2         Certification of the Principal Financial Officer
                  pursuant to Rule 13(a)-14                         Attached
     32           Certification of the Principal Executive and
                  Financial Officer pursuant to Section 1350        Attached

     *Incorporated by reference from the Company's registration statement
on Form 10-SB filed with the Securities and Exchange Commission on February
9, 2001, File No. 0-32329.

     (b)  Reports on Form 8-K:  No reports on Form 8-K were filed during
the fourth quarter of the fiscal year ended September 30, 2003.

                                     14
<PAGE>

             ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES

Audit Fees

     The aggregate fees billed for professional services rendered by our
principal accountant for the audit of our annual financial statements,
review of financial statements included in our quarterly reports and other
fees that are normally provided by the accountant in connection with
statutory and regulatory filings or engagements for the fiscal years ended
September 30, 2003 and 2002 were $4,450 and $3,850, respectively.

Audit-Related Fees

     The aggregate fees billed for assurance and related services by our
principal accountant that are reasonably related to the performance of the
audit or review of our financial statements, other than those previously
reported in this Item 14, for the fiscal years ended September 30, 2003 and
2002 were $-0- and $-0-, respectively.

Tax Fees

     The aggregate fees billed for professional services rendered by our
principal accountant for tax compliance, tax advice and tax planning for
the fiscal years ended September 30, 2003  and 2002 were $-0- and $100,
respectively.  These fees related to the preparation of federal income and
state franchise tax returns.

All Other Fees

     There were no other fees billed for products or services provided by
the principal accountant, other than those previously reported in this Item
14, for the fiscal years ended September 30, 2003 and 2002.

Audit Committee

     The Company's Board of Directors functions as its audit committee.
All of the services described above in this Item 14 for the year ended
September 31, 2003, were approved by the Board of Directors.

                                     15
<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.

                                   Alnilam Corporation

Date:  January 12, 2004            /s/ Jason Daggett
                                   By: Jason Daggett, President and
                                   Treasurer (Chief Executive, Principal
                                   Financial & Principal Accounting
                                   Officer)

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


Date:  January 12, 2004            /s/ Jason Daggett
                                   Jason Daggett, Sole Director




                                     16
<PAGE>




                       INDEPENDENT AUDITOR'S REPORT

To the Board of Directors
Alnilam Corporation
Newport Beach, California

We have audited the accompanying balance sheet of Alnilam Corporation (a
development stage company), (a Utah corporation) as of September 30, 2003
and the related statements of operations, stockholders' equity, and cash
flows for the year then ended, and for the period May 10, 2000 (inception)
to September 30, 2003.  These financial statements are the responsibility
of the management of Alnilam Corporation.  Our responsibility is to express
an opinion on these financial statements based on our audits.

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

In our opinion, the financial statements referred to above present fairly,
in all material respects, the financial position of Alnilam Corporation as
of September 30, 2003 and the results of their operations and its cash
flows for the year then ended, and  for the period May 10, 2000 (inception)
to September 30, 2003 in conformity with generally accepted accounting
principles, in the United States of America.

The accompanying financial statements have been prepared assuming the
Company will continue as a going concern.  As discussed in Note 5 to the
financial statements, the Company has an accumulated deficit and a negative
net worth at September 30, 2003.  These factors raise substantial doubt
about the Company's ability to continue as a going concern.  Management's
plans in regard to these matters are also discussed in Note 5.  The
financial statements do not include any adjustments that might result from
the outcome of this uncertainty.

/s/ Bierwolf, Nilson & Associates

Bierwolf, Nilson & Associates
Salt Lake City, Utah
December 18, 2003


                                    F-1
<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                               Balance Sheet

                                                            September 30,
                                                                2003
                                                            ------------
                                  ASSETS

Current Assets
   Cash                                                     $      -
                                                             ----------
     Total Current Assets                                          -
                                                             ==========

                   LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
   Accounts Payable                                               8,724
   Interest Payable                                               4,723
   Note Payable - Related Party (Note 4)                         16,786
                                                             ----------
     Total Current Liabilities                                   30,233

Stockholders' Equity

   Common Stock Authorized; 100,000,000 Shares at
    $.001 Par Value; 1,000,000 Shares Issued and
    Outstanding                                                   1,000
   Capital In Excess of Par Value                                 9,000
   Deficit Accumulated in the Development Stage                 (40,233)
                                                             ----------
     Total Stockholders' Equity                                 (30,233)
                                                             ----------
     Total Liabilities & Stockholders' Equity               $      -
                                                             ==========


 The accompanying notes are an integral part of these financial statements.
                                    F-2
<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                         Statements of Operations
<TABLE>
<CAPTION>
                                                                    Accumulated
                                                                    May 10, 2000
                                        For the        For the      (Inception)
                                       Year Ended     Year Ended      through
                                       September      September      September
                                        30, 2003       30, 2002       30, 2003
                                      ------------   ------------   ------------
<S>                                   <C>            <C>            <C>
Revenue                               $      -       $      -       $      -
                                       ----------     ----------     ----------
Expenses

   General and Administrative               6,432          7,561         35,508
                                       ----------     ----------     ----------
     Total Expenses                         6,432          7,561         35,508
                                       ----------     ----------     ----------
     Income (Loss) from Operations         (6,432)        (7,561)       (35,508)

Other Income (Expenses)

   Interest Expense                        (1,633)        (1,484)        (4,725)
                                       ----------     ----------     ----------
     Total Other Income (Expenses)         (1,633)        (1,484)        (4,725)
                                       ----------     ----------     ----------
     Income (Loss) Before Taxes            (8,065)        (9,045)       (40,233)

     Taxes                                   -              -              -
                                       ----------     ----------     ----------
     Net Income (Loss)                $    (8,065)   $    (9,045)   $   (40,233)
                                       ==========     ==========     ==========


     (Loss) Per Common Share          $     (0.01)   $     (0.01)

     Weighted Average
      Shares Outstanding                1,000,000      1,000,000

</TABLE>

   The accompanying notes are an integral part of these financial statements.
                                      F-3
<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                     Statement of Stockholders' Equity
            From May 10, 2000 (Inception) to September 30, 2003
<TABLE>
<CAPTION>
                                                                          Accumulated
                                                                         Deficit Since
                                                            Capital In   Beginning of
                                      Common Stock          Excess of    Development
                                  Shares        Stock       Par Value       Stage
                               ------------  ------------  ------------  ------------
<S>                            <C>           <C>           <C>           <C>
Balance, May 10, 2000                 -      $      -      $      -      $      -

Shares Issued for Services
at $.01 Per Share                  214,000           214         1,926          -

Shares Issued for Cash at
$.01 Per Share                     516,500           517         4,648          -

Net (Loss) Period Ended
September 30, 2000                    -             -             -           (2,279)
                                ----------    ----------    ----------    ----------
Balance, September 30, 2000        730,500           731         6,574        (2,279)

Shares Issued for Cash at
$.01 Per Share                     220,000           220         1,980          -

Shares Issued for Services
at $.01 Per Share                   49,500            49           446          -

Net (Loss) Year Ended
September 30, 2001                    -             -             -          (20,844)
                                ----------    ----------    ----------    ----------
Balance, September 30, 2001      1,000,000         1,000         9,000       (23,123)

Net (Loss) Year Ended
September 30, 2002                    -             -             -           (9,045)
                                ----------    ----------    ----------    ----------
Balance, September 30, 2002      1,000,000         1,000         9,000       (32,168)

Net (Loss) Year Ended
September 30, 2003                    -             -             -           (8,065)
                                ----------    ----------    ----------    ----------
Balance, September 30, 2003      1,000,000   $     1,000   $     9,000   $   (40,233)
                                ==========    ==========    ==========    ==========
</TABLE>

    The accompanying notes are an integral part of these financial statements.
                                       F-4
<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                         Statements of Cash Flows
<TABLE>
<CAPTION>
                                                                          Accumulated
                                                                          May 10, 2000
                                                For the       For the     (Inception)
                                               Year Ended    Year Ended     Through
                                               September     September     September
                                                30, 2003      30, 2002      30, 2003
                                              ------------  ------------  ------------
<S>                                           <C>           <C>           <C>
Net Cash Provided by Operating Activities

  Net (Loss)                                  $    (8,065)  $    (9,045)  $   (40,233)
  Changes in Operating Assets & Liabilities;
    Increase in Accounts/Interest Payable           6,114         5,525        13,447
    Increase in Stock Issued for Services            -             -            2,635
                                               ----------    ----------    ----------
     Net Cash (Used) by
     Operating Activities                          (1,951)       (3,520)      (24,151)

Net Cash Provided by Investing Activities            -             -             -

Net Cash Provided by Financing Activities

  Issuance of Note Payable for Cash                 1,951          -           16,786
  Stock Issued for Cash                              -             -            7,365
                                               ----------    ----------    ----------
     Net Cash Provided by
     Financing Activities                           1,951          -           24,151
                                               ----------    ----------    ----------
     Net Increase (Decrease) in Cash                 -           (3,520)         -

     Cash at Beginning of Year or Period             -            3,520          -
                                               ----------    ----------    ----------
     Cash at End of Year or Period            $      -      $      -      $      -
                                               ==========    ==========    ==========


Supplemental Disclosures

  Interest                                    $      -      $      -      $      -
  Taxes                                              -             -             -
</TABLE>

    The accompanying notes are an integral part of these financial statements.
                                       F-5
<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                            September 30, 2003

NOTE 1 - CORPORATE HISTORY

Alnilam Corporation (the "Company") was incorporated under the laws of the
state of Nevada on May 10, 2000 as Alnilam Corporation for the purpose of
seeking and consummating a merger or acquisition with a business entity
organized as a private corporation, partnership, or sole proprietorship.

The Company has yet to fully develop any material income from its stated
primary objective and it is classified as a development stage company.  All
income, expenses, cash flows and stock transactions are reported since the
beginning of development stage.

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES

Cash and Cash Equivalents - The Company considers all highly liquid
investments with an original maturity of three months or less when
purchased to be cash equivalents.

Earnings (Loss) Per Share - The Computation or income or (loss) per shares
of common stock is based on weighted average number of shares outstanding
at the date of the financial statements.

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 financial statements and the reported amounts of revenues and
expenses during the reported period.  Actual results could differ from
those estimates.

NOTE 3 - INCOME TAXES

The Company adopted Statement of Financial Standards No. 109 "Accounting
for Income Taxes" in the fiscal year ended September 30, 2001.

Statement of Financial Accounting Standards No. 109 "Accounting for Income
Taxes" requires an asset and liability approach for financial accounting
and reporting for income tax purposes.  This statement recognizes (a) the
amount of taxes payable or refundable for the current year and (b) deferred
tax liabilities and assets for future tax consequences of events that have
been recognized in the financial statements or tax returns.

Deferred income taxes result from temporary differences in the recognition
of accounting transactions for tax and financial reporting purposes.  There
were no temporary differences at September 30, 2003 and earlier periods, no
deferred tax liabilities have been recognized.

                                    F-6
<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                     Notes to the Financial Statements
                            September 30, 2003

NOTE 3 - INCOME TAXES continued

The Company has cumulative net operating loss carryforwards of over $40,000
at September 30, 2003.  No effect has been shown in the financial statements
for the net operating loss carryforwards as the likelihood of future tax
benefit from such net operating loss carryforwards is not presently
determinable.  Accordingly, the potential tax benefits of the net operating
loss carryforwards, estimated based upon current tax rates at September 30,
2003 have been offset by valuation reserves in the same amount.  The net
operating losses begin to expire in 2020.

NOTE 4 - NOTE PAYABLE RELATED PARTY

The Company has issued two unsecured promissory notes bearing interest
rates of 10% per annum, and are due and payable on demand.  The notes were
issued to a shareholder of the Company and to a company whose president is
a shareholder.  At September 30, 2003, the accrued interest associated with
the various notes was $4,723.

                                                          September 30,
The Company has the following note payable obligations:       2003
                                                          ------------
Related party note payable, due on demand, accruing
   interest at a rate of 10% per annum                     $   14,835

Related party note payable, due on demand, accruing
   interest at a rate of 10% per annum                     $    1,951
                                                            ---------
          Totals                                           $   16,786
          Less Current Maturities                             (16,786)
                                                            ---------
          Total Long-Term Notes Payable                    $     -
                                                            =========

Following are maturities of long-term debt for each of the next five years:

                                                Year         Amount
                                                ----         ------
                                                2004        $  16,786
                                                2005             -
                                                2006             -
                                                2007             -
                                             Thereafter          -
                                                            ---------
                                                Total       $  16,786
                                                            =========

                                    F-7
<PAGE>

                            Alnilam Corporation
                       (A Development Stage Company)
                     Notes to the Financial Statements
                            September 30, 2003

NOTE 5 - GOING CONCERN

The Company's financial statements are prepared using generally accepted
accounting principles applicable to a going concern which contemplates the
realization of assets and liquidation of liabilities in the normal course
of business.  Currently, the Company does not have significant cash or
other material assets, nor does it have an established source of revenues
sufficient to cover its operating costs and to allow it to continue as a
going concern.  It is the intent of the Company to find additional capital
funding and/or a profitable business venture to acquire or merge with.





                                    F-8