TABLE OF CONTENTS


PART I
ITEM 1.  DESCRIPTION OF BUSINESS.....................................1
ITEM 2.  DESCRIPTION OF PROPERTY...........................................
ITEM 3.  LEGAL PROCEEDINGS...................................................
ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITYHOLDERS.................

PART II
ITEM 5.  MARKET FOR COMMON EQUITY SECURITIES.............
ITEM 6.  SELECTED FINANCIAL DATA
ITEM 7.   MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OFOPERATION............

ITEM 7A.  QUANTITATIVE AND QUALITATIVE DISCLOSURE OF MARKETRISK................
ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA...........................
ITEM 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE..................................

PART III
ITEM 10.  DIRECTORS, EXECUTIVE OFFICERS ............

ITEM 11.  EXECUTIVE COMPENSATION
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS ANDANAGEMENT..........

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED
TRANSACTIONS........................

PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON
FORM 8-K......................................
SIGNATURES.......................................................
 .....
FINANCIAL
STATEMENTS..................................................
INDEX TO
EXHIBITS.....................................................






ITEM 1.   BUSINESS

OVERVIEW
     International Brands, Inc/WorldBestBuy.com is a diversified
  company whose recent emphasis on an e-commerce shopping mall,
  are being continued by the company President and CEO Steven
  (Vladislav) Zubkis and his private Venture Capital Company, Z3
  Capital, Corp. Mr. Zubkis had about 10 years of experience in
  Data Processing specializing in troubleshooting and Tec
  support of large mainframes online systems for many of Fortune
  500 companies. Mr. Zubkis have partially acquired knowledge of
  Data Processing and Real Estate Development and Construction
  via continuing education in New York University and by hands
  on experience. Our revenues currently are generated by sales
  from B-2-C part of WorldBestBuy.com site via routing the
  orders to a Vcommerce Corp for Fulfillment by Vstore.com. All
  of the e-commerce negotiations, maintenance, developments and
  implementations are performed by Z3 Capital Corporation based
  on long-term Venture Capital and Operational Agreement.
  International Brands, Inc. and WorldBestBuy.com have secured
  and prepaid marketing and advertising program for itself for
  the next two to three years. The company has a four years left
  of the five-year marketing agreement with the best selling
  Russian Pop Music star Philip Kirkorov. Sony Latin have
  recently released Mr. Kirkorov's new album in Spanish.  The
  company has an endorsement agreement with Lenny Krayzelburg, a
  professional swimmer. Mr. Krayzelburg has won three gold
  medals during the last Olympic games in Sydney. The company
  sponsors approximately 10 racing teams with Mack McClellan
  Motor sports in charge of its racing program which includes
  NASCAR Winston Cup, INDY, ARCA, Open Wheel Racing, Grand
  American Series, IRL, Midgets, USAC. Tony Elliott of KoKomo,
  Indiana. Tracy Hines of New Castle, Indiana. Jay Drake of Val
  Verde, California. Becca Anderson of Houston, Delaware.
  Brandon Erwin of Denton, Texas. Scott Deware of Easton,
  Masachusets. Todd Kelley of Russiville, Indiana. Rick Mast
  drives car #50 - Nascar Winston Cup. Jack Willes Charlotte
  North Corolina. Jon Leavy Miami, Florida.

BUSINESS STRATEGY.

  The new income producing strategies are being developed for
  International Brands, Inc./WorldBestBuy.com. Some of the new
  developments such us bridging into Ownership and Management of
  Income Producing Properties in San Diego County.
  Banner Management System, to create an advertising network.
  Internet-Auctions and Internet-Reverse Auctions.
  Our organization currently in the implementation phase of an E-
  Commerce solution for International Marketing Strategies and
  Programs for a selection of over 40,000 Food/Non-Food items
  for  "One-Stop E-Shopping" convenience.
  Stock Distribution Strategy of International Brands, Inc.
  International Brands, Inc./WorldBestBuy.com commission based
  brokerage.

  Due to the instability of financial markets and a negative
  perception towards companies whose main business is e-
  commerce,       International Brands, Inc. common stock is
  trading at its lowest levels.
  International Brands, Inc. has adopted a new and additional
  business strategy to International Brands, Inc. as a second
  leg to its e-commerce business, to generate positive cash flow
  and to take advantage of company tax-loss carry-forward.
  The company will be obtaining capital via Limited
  Partnerships, to purchase income-producing properties in San
  Diego County with no mortgages, where International Brands,
  Inc is a General Partner for 45% of income and appreciation.
  As soon as International Brands, Inc. will obtain capital for
the first property - it will declare the cash dividend.
  As soon as International Brands, Inc. will obtain capital for
  the second property it will increase the cash dividend. The
  company from now and on will duplicate this moneymaking
  formula.
  The company has adapted this strategy as a permanent solution
  to increase the price of the stock to provide liquidity to the
  shareholders and enhance shareholder value.
  President and CEO of International Brands, Inc. Steven
  (Vladislav) Zubkis is also a General Partner in above-
  mentioned Limited Partnership.
  Mr. Zubkis Percentage Interest in Partnership is equal to 5%.
  Mr. Zubkis from 1984 to 1986 have taken a few real estate
  construction and development related programs in New York
  University's - School of Continuing Education. During these
  years Mr. Zubkis also have passed an exam for New York Real-
  Estate license.
  From 1984 to 1986 Mr. Zubkis worked for Brooklyn based,
  Irpinia Construction Company as a Project Manager. Irpinia was
  owned and operated by Gargano Family. Prior to Mr. Zubkis
  employment, Irpinia was a subcontractor specializing only in
  brick laying aspect of construction. After Irpinia have hired
  Mr. Zubkis as a Project Manager, Irpinia have become a real
  estate builder - developer and income producing property owner
  and manager. Mr. Zubkis responsibilities in Irpinia varied
  from land acquisition to approval of building plans and
  obtaining necessary construction permits. From lining up
  subcontractors for all other aspects of construction,
  excluding brick work to scheduling a delivery of necessary
  construction materials to the job site. From timing the
  sequence of subcontractors performing their projects to
  overseeing the work of subcontractors its quality, timing and
  making sure that performed work is done according to the
  plans. In addition to the above-mentioned duties Mr. Zubkis
  was responsible for troubleshooting various day to day
  problems, implementing and coordination of these changes
  implementation throughout the project as well as communication
  among designers, architects engineers, city planning
  commission and city inspectors in order to obtain a final
  Certificate of Occupancy. In many instances Mr. Zubkis was the
  only liaison between the company owners Carmine and Rosa
  Gargano and subcontractors.
  From the time Mr. Zubkis have spent with Irpinia Construction,
  until now - construction and improvements, were not Mr. Zubkis
  main business, but a hobby. From 1993 to 2001 in California
  and specifically in San Diego County, Mr. Zubkis have
  developed various construction resources and contacts. As a
  General Partner and for his Partnership Interest, the
  Partnership will be able to implement necessary property
  improvement by utilizing these resources and improve the
  property in many cases at subcontractor cost, which is the
  cost of labor plus materials. Due to the fact that San Diego
  County is in close proximity to the Mexican border, the cost
  of labor is allot less than the cost of labor in most of the
  United States of America.
  International Brands, Inc. have gone already through a drastic
  reorganization and have cut operational costs, further cost
  cutting will occur when company will relinquish its space and
  move its office to a location which will be provided by the
  President and CEO rent-free to the company. With rent free
  office space, one part time employee and one part time
  accountant, in addition to Z3 Capital, Corp. with whom
  International Brands, Inc. have contractual arrangement and a
  note payable which is being satisfied by Z3 Capital, Corp.
  paying for all of the expanses related to an upkeep
  maintenance, new developments and implementations of
  WorldBestBuy.com e-commerce engines - this cost saving
  strategy should payoff by enabling International Brands, Inc.
  to declare the cash dividends and to keep increasing them,
  every time the company will acquire additional property.
  International Brands, Inc. will be acquiring solely debt free
  income producing residential real estate in San Diego County.
  Due to our demographic studies, which indicate, that San Diego
  County is an excellent location for such an investments.  For
  instance, ownership of rental properties in San Diego, which
  has been cited in many surveys and reports as the most
  desirable place to live in the entire United States, can
  provide a steady, predictable rate of return year after year.
  In other words, the annual ROI on our real estate investments
  will provide a steady source of income.  San Diego is the
  sixth largest city in the United States and has the second
  fastest growth rate. Housing is already tight in San Diego and
  is going to get a lot tighter. According to the San Diego
  Association of Governments (SANDAG) Board of Directors, 2020
  Cities/Counties Forecast Profiles, which was released in
  February 1999 for local agency review. San Diego will by the
  year 2005, have 2,200,000 fewer housing units than it has
  people, resulting in rapidly escalating property values and
  rental rates. Statistically for the past 100 years, the
  property values in US double every seven years, however if we
  rely on the SANDAG forecast, San Diego County will appreciate
  much faster.
  According to the Department of Labor, San Diego ranks 57th in
  the nation for average annual pay, ahead of tens of thousands
  of other communities. Workers in San Diego can afford middle-
  to high-middle-class rents and are happily paying them to
  avoid 45-60 minute commutes and to be able to live in one of
  the cleanest, brightest, most robust urban areas in the world.
  Both San Diego County and the city of San Diego operate under
  the most landlord-friendly Civil and Commercial statutes of
  any major American city. There is no rent control of any sort
  and no frivolous loopholes that allow deadbeat tenants to stay
  on month after month without paying rent.  San Diego has the
  mildest, most perfect climate in California and, quite
  possibly, the entire United States. Summers are cool, winters
  are warm. In these days of skyrocketing energy costs, the fact
  that San Diegans almost never have to turn on their furnace or
  air conditioner makes it an even more desirable place to live.
  NAFTA agreement between US and Mexico, gave an opportunity to
  many US based and Multinational companies which selling
  products into US market to setup assembly plants (makaladoras)
  and use inexpensive Mexican labor for assembly process,
  however management and their families are relocated to San
  Diego and they commute to work across the border to Mexico.
  These residents of San Diego very seldom buy properties - they
  are transients and make very good tenants, also San Diego is a
  strategic military base and families of military personal are
  good tenants as well. San Diego is a part of California - an
  earthquake zone; therefore building multilevel highways is
  against the law. All the highways which were planned are
  already built and to avoid further growth and traffic jams, in
  San Diego County is unofficial moratorium (no building
  permits) for new multiple unit dwellings, unless of course a
  builder or a developer decides to invest in red light district
  (low income) to improve the area. San Diego County has grown
  from 1.4 million people, 7 years ago to 2.7 million people
  today. Despite of all limitations, the County keeps growing.
  For these reasons and more we anticipate a successful
  implementation of these, new to International Brands, Inc.
  business strategy.

OPERATIONS
  International Brands, Inc. is in the process of implementing a
  series of cost cutting moves. The Company will relinquish its
  currently leased office property and transition its
  headquarters to a location to be provided by the President and
  CEO, Steven Zubkis, rent-free to the company. We also intend
  to employ independent contractors and temporary personnel on
  an as needed basis for support services. In addition, Z3
  Capital, Corp. with whom International Brands, Inc. has a
  contractual arrangement for services in payment of notes
  payable to the Company, will provide additional support
  services, maintenance, research and technological development
  and implementation of WorldBestBuy.com e-commerce engines.
  The primary areas of operations going forward will concentrate
  on e-commerce and residential real estate development.

E-Commerce
  WorldBestBuy.com International is implementing an e-commerce
  strategy to offer the most competitive product pricing, value
  added programs and excellent customer service.
  The Banner-Management system once development will be
  completed and           marketing strategy will be implemented
  will provide WorldBestBuy.com via various contractual and
  Joint-Venture agreements, with a network of second-tier and
  third-tier mostly privately owned websites, for its
  advertising needs and an income-producing opportunity will
  became available in reselling advertising banners to other
  companies.

  We believe that free of charge, when listing - regular
  auctions and free of charge, when listing - reverse auctions,
  do create an opportunity in internet-auctions business.
  Currently WorldBestBuy.com have already developed and
  implemented some of these auction engines, however further
  technical developments and improvements are required as well
  as designing and implementing the marketing strategies for
  these auctions.
  The new area of an e-commerce sector for International Brands,
  Inc. and where the company have put its emphasis and currently
  in implementation phase, is the e-commerce mechanism to
  provide internationally world-class services and complete
  product selection through a broad variety of national brands
  and private label programs Via the Largest Retailer-Owned
  Grocery Distributor in the Western United States.
  International Brands, Inc/ WorldBestBuy.com International have
  Executed Commission Based Agent Agreement on sales developed
  by our organization in the range of 3-5% over the net product
  cost and based on the value of the merchandise.
  The agreement is based on each individual transaction with our
  specified commission being built into the quotation. Once the
  purchase agreement have been obtained from the buyer, secured
  method of payment is implemented, shipment is completed and
  payment is received against the invoice, a check would be
  issued to our company.

  Extensive product mix, competitive pricing, efficient
  logistics and broadened corporate brand selections are
  WorldBestBuy.com's International absolute market advantages.

  This new e-commerce strategy is being implemented via agent
  agreement with an experienced international distributor in
  operation for over 30 years and is recognized as a quality
  supplier of goods and services throughout the Pacific Region.

  By using the buying power of its parent company, we are able
  to take advantage of volume purchasing in order to offer the
  lowest price.

  WorldBestBuy.com International is implementing an e-commerce
  strategy to offer the most competitive product pricing, value
  added programs and excellent customer service.

  WorldBestBuy.com International will offer a selection of over
  40,000 food/non-food items for "One-Stop E-Shopping"
  convenience.

  International Brands, Inc/WorlBestBuy.com through its agent
  agreement will also provide "Direct Full Container Load
  Shipments" from corporate brand vendors and national brand
  manufacturers in order to reduce costs even further. This
  extensive experience with international logistics will allow
  us to offer added value services and prompt delivery.

  International Brands, Inc/WorldBestBuy.com International
  through its agent agreement falls into wholesale distribution
  infrastructure of 10 distribution centers throughout the
  Western United States with a combined team of 4,000 employees
  to service retail and wholesale needs.

          WorldBestBuy.com   International's   Categories    will
          include but are not limited to the following.

  GROCERY - Commodity items like Flour, Rice, Sugar,
  Cooking/Salad Oils; Canned Fruits & Vegetables; Household
  Paper Products; Ramen; Snack Foods; Canned Meats; Beverages.
  SPECIALTY - Ethnic Products, Gourmet Foods, Health Foods,
  Seasonal & Holiday Foods.
  HEALTH & BEAUTY AIDS - Baby Needs, Cosmetics, Hair Care,
  Feminine Hygiene, and O.T.C. Health Care.
  HOUSEWARES &  HARDWARE - Automotive, Candles Bake ware/Kitchen
  Accessories, Pet Care, School Supplies, Seasonal and Holiday
  Items.
  DELI - Butter, Margarine, Cheese, Meats, Yogurts, Whipping
  Cream.
  FROZEN - Bakery Products, Dinner Entrees, Fruits, Ice, Juices,
  Pizza, Potatoes, Seafood, Toppings, and Vegetables.
  SERVICE DELI - Thaw & Serve Bakery, Bulk Cheeses, Convenience
  Foods, Salads, Side Dishes, Foodservice.
  ICE CREAM / DAIRY / BAKERY - Full Line of Products.
  MEAT - Beef, Pork, Poultry, Lamb, Seafood.
  PRODUCE / EGGS - Fruits, Vegetables, Fresh Flowers and Plants.

  International  Brands, Inc/WorldBestBuy.com International  will
            provide PRIVATE LABEL BENEFITS.

  Products are competitively priced lower against all brands!

  Quality compares to equal or better than the national brands!

  We  fall  into  infrastructure with Quality  Control  division,
  which   conducts  independent  lab  testing  analysis,  sensory
  evaluations,  and plant visits to ensure that  each  and  every
  product we sell meets the highest standards.

  Private Label  products are handpicked to ensure quality.  They
            represent the "best of the best."
  Stock Distribution Strategy of International Brands, Inc.  have
  been designed, developed and announced in the past. However  to
  implement  this technique which will generate various financial
  instruments  of other companies for International Brands,  Inc.
  shareholders  at no additional cost, could poses  various  risk
  factors   for   International  Brands,   Inc.   and   for   its
  shareholders. Therefore this strategy must be implemented  with
  great  caution  and  with appropriate  due  diligence.  We  are
  proceeding  with this plan, however up to this  date,  we  have
  not  been  able  to isolate a proper candidate  and  facilitate
  this  candidate in going Public. While in the process of taking
  this  company  Public, we will distribute  certain  percent  of
  issued   and  outstanding  shares  of  this  company   to   our
  shareholders.  We are constantly looking and believe  that  the
  right opportunity will present itself.

  In  1998 and 1999, International Brands, Inc. have signed a few
  letters  of intent with few high rank government officials  and
  celebrities  of  former USSR Republics and  Russia.  There  are
  various  opportunities  for  International  Brands,  Inc.   and
  WorldBestBuy.com  to  broker products,  natural  resources  and
  services  between  East and West online  and  via  old  fashion
  method  of  negotiations. An ability to utilize both  will  aid
  each  other.  Currently we are trying to broker  a  transaction
  between  a  large NYSE US based company and crude oil producers
  in  Russia, Kazakhstan, Azerbaijan, Turkmenistan, Tatarstan and
  Daghestan  for 20 year supply contract for 12 million  tons  of
  crude  oil  a year. Currently we in the process to negotiate  a
  Joint   Venture   for   exploration,  extraction,   production,
  management of petroleum resources and exportation of crude  oil
  as  well  processing of high-grade petroleum products according
  to  new  European  Union  environmental  standards.  The  Joint
  Venture  partners  will be one of the Caspian  Basin  Countries
  with 500 Million to one Billion tons of crude oil reserves  and
  one  or  more  Multinational  Petroleum  Companies  with  above
  mentioned   experience.  As  part  of  the  deal  International
  Brands,  Inc.  if  successful will have  a  production  sharing
  agreement  and  set  commissions  charge  per  each  barrel  of
  extracted   and  sold  crude  oil  or  a  refined   byproducts.
  Currently International Brands, inc. representing as  an  agent
  a  largest  retailer-owned grocery distributor in  the  Western
  United  States  of America with 40,000 food/non-food  items  in
  Russia,    Kazakhstan,   Tatarstan,   Turkmenistan,    Georgia,
  Azerbaijan,   Moldova,   Ukraine  and  Lithuania.   Number   of
  Governmental  officials  from  above  mentioned  Countries  has
  expressed   an  interest  in  purchasing  these  products   via
  International  Brands,  Inc.  for purposes  of  establishing  a
  wholesale-clubs  type  of Costco. These  opportunities  do  not
  require  any  cash  investments  or  cash  expenditures,  these
  opportunities are available to International Brands,  Inc.  and
  to  WorldBestBuy.com via personal contacts of company President
  and  CEO Steven (Vladislav) Zubkis. We are very exited to  have
  an   opportunity  to  be  involved  in  transactions  of   this
  magnitude.  We  hope  that one day some of  these  transactions
  will be consummated.

  Possible uncertainties, which may have an impact on the
International Brands, Inc.,
  is the ability for Steven (Vladislav) Zubkis to perform his
  duties as a President and CEO
  of International Brands, Inc. due to his legal challenges with
  SEC. The company currently is appealing a default judgment
  against the company for over than $7,000,000.00 (Seven Million
  Dollars). A loss of these appeal will force the company to
  file an appeal in the appellate court of New Jersey, the loss
  of that appeal will force the company to file the appeal in
  the Supreme Court of United States of America, the loss of
  these appeal may force the company to settle this judgment
  with the State of New Jersey. There is a risk of other
  lawsuits that may arise, due to the low price of the company
  stock. And finally there is a risk of Steven (Vladislav)
  Zubkis not being able to perform his duties due to his health
  condition or loss of his life.

  International Brands, Inc/WorldBestBuy.com in 1999 have lost
  $3.17 per share, a total of $180,985,747.00 with sales of
  $32,714.00. In 2000 the company lost 0.055 (five and a half
  cents) cents per diluted share, a total of $22,063,992.00.
  From 1994 to 2001 the company have either spent in cash or
  issued stock, for services like: capitalization, developments,
  marketing, advertising as well as employees incentives, for a
  total of $374,786,000.00. We believe that this tax-loss carry-
  forward is one of the most valuable assets International
  Brands, Inc. and WorldBestBuy.com controls and we are planning
  to take a full advantage of this opportunity.


International Brands continues its expansion into global markets.
In 1998 and 1999, International Brands, Inc signed a letters of
intent with a few high-ranking government officials and
celebrities of former USSR Republics and Russia. There are
various opportunities for International Brands, Inc. and
WorldBestBuy.com to broker products, natural resources and
services between East and West online and via old fashion method
of negotiations. Currently International Brands, inc.
representing as an agent a large retailer-owned grocery
distributor in the Western United States of America with 40,000
food/non-food items in Russia, Kazakhstan, Tatarstan,
Turkmenistan, Georgia, Azerbaijan, Moldova, Ukraine and
Lithuania. Number of Governmental officials from above mentioned
Countries has expressed an interest in purchasing these products
via International Brands, Inc. for purposes of establishing a
wholesale-clubs type of Costco. These opportunities do not
require any cash investments or cash expenditures, these
opportunities are available to International Brands, Inc. and to
WorldBestBuy.com via professional relationships of company
President and CEO Steven Zubkis. We are very exited to have an
opportunity to be involved in transactions of this magnitude. We
hope that one day some of these transactions will be consummated.

ITEM 2.   PROPERTIES
Not applicable
ITEM 3.   LEGAL PROCEEDINGS
On May 9, 2000, the Company received a final judgment against it
as a result of litigation initiated by the State of New Jersey
against International Brands and several other defendants.  As a
result, the Company is enjoined from selling any of its stock
within the State of New Jersey. In addition, International Brands
shall send a notice to all New Jersey residents who purchased
stock, allowing them a right of rescission. International Brands,
Z3 Capital Corporation and its chief executive are liable to the
State of New Jersey for $7,770,000 in civil monetary penalties.
This amount has been accrued on the Company's books and is
reflected as a liability at December 31, 1999 and December 31,
2000 since the source for payment of the penalty shall come from
the Company. The Company is currently appealing this judgment,
however  the success of this appeal is in doubt. A loss of these
appeal will force the company to file an appeal in the appellate
court of New Jersey, the loss of that appeal will force the
company to file the appeal in the Supreme Court of United States
of America, the loss of these appeal may force the company to
settle this judgment with the State of New Jersey.

The Securities and Exchange Commission ("Commission") announced
that in a decision dated February 21, 2000, the United States
District Court for the Southern District of New York has held
that President Steven Zubkis violated the antifraud provisions,
as well as other provisions, of the federal securities laws.  Mr.
Zubkis was permanently enjoined from further violations of these
provisions of the federal securities laws and permanently
prohibited him from serving as an officer or director of a public
company such pursuant to Section 20(e) of the Securities Act and
Section 21(d)(2) of the Exchange Act. However this is an ongoing
case in which there is no judgment by the court, and there will
be decision until Judge Koetl decides on the recommendations of
Judge Fox. Currently  Mr. Zubkis has filed an objection to the
recommendations of Judge Fox. If this opposition is denied, Mr.
Zubkis will file a motion to vacate. If this motion is denied,
Mr. Zubkis will be forced to file an appeal in the 2tnd   Curcuit
(the appellate court of US) and if the decision  is affirmed Mr.
Zubkis will proceed to the Supreme Court of the United States of
America, after the loss of these certiorari  Mr. Zubkis will have
to abide by the court decision.
 .

ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
There were no matters submitted to a vote of shareholders during
the 4th quarter of the fiscal year ended December 31, 2000.  On
January 2001, The Company authorized the issuance of Platinum
warrants.  These warrants are to be issued to each shareholder,
regardless of the number of shares held, as of the record date of
May 1, 2001.  Each Platinum warrant can be exercised for $925.00
and converted to 1/16 of 1 percent of International Brands L.P.
Partnership Interest, a California Limited Partnership of which
the Company is a General Partner with 45 percent of Partnership
Interest and Mr. Zubkis is a General Partner with 5 percent of
Partnership Interest.

PART 11
ITEM 5.   MARKET FOR COMMON EQUITY SECURITIES
The Company is a reporting publicly traded company reported on
the NASD OTC Bulletin Board under the symbol INBR and INBRE when
it is late with filings.
Penny Stock Regulation.  The Company's common stock may be deemed
a penny stock.   Penny stocks generally are equity securities
with a price of less than  $5.00 per share other than securities
registered on certain national securities exchanges or quoted on
the Nasdaq Stock Market, provided that current price and volume
information with respect to transactions in such securities is
provided by the exchange or system.  The Company's securities may
be subject to "penny stock rules" that impose additional sales
practice requirements on broker-dealers who sell such securities
to persons other than established customers and accredited
investors (generally those with assets in excess of  $1,000,000
or annual income exceeding  $200,000 or $300,000  together with
their spouse).
For transactions covered by these rules, the broker-dealer must
make a special suitability determination for the purchase of such
securities and have received the purchaser's written consent to
the transaction prior to the purchase.  Additionally, for any
transaction involving a penny stock, unless exempt, the "penny
stock rules" require the delivery, prior to the transaction, of a
disclosure schedule prescribed by the Commission relating to the
penny stock market. The broker-dealer also must disclose the
commissions payable to both the broker-dealer and the registered
representative and current quotations for the securities.
Finally, monthly statements must be sent disclosing recent price
information on the limited market in penny stocks.  Consequently,
the "penny stock rules" may restrict the ability of broker-
dealers to sell the Company's securities.  The foregoing required
penny stock restrictions will not apply to the Company's
securities if such securities maintain a market price of $5.00 or
greater.  There can be no assurance that the price of the
Company's securities will reach or maintain such a level.

ITEM 6,   SELECTED FINACIAL DATA
None

ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
OPERATIONS

     International Brands, Inc/WorldBestBuy.com is a diversified
  company whose recent emphasis on an e-commerce shopping mall,
  are being continued by the company President and CEO Steven
  (Vladislav) Zubkis and his private Venture Capital Company, Z3
  Capital, Corp. Mr. Zubkis had about 10 years of experience in
  Data Processing specializing in troubleshooting and Tec
  support of large mainframes online systems for many of Fortune
  500 companies. Mr. Zubkis have partially acquired knowledge of
  Data Processing and Real Estate Development and Construction
  via continuing education in New York University and by hands
  on experience. Our revenues currently are generated by sales
  from B-2-C part of WorldBestBuy.com site via routing the
  orders to a Vcommerce Corp for Fulfillment by Vstore.com. All
  of the e-commerce negotiations, maintenance, developments and
  implementations are performed by Z3 Capital Corporation based
  on long-term Venture Capital and Operational Agreement.
  International Brands, Inc. and WorldBestBuy.com have secured
  and prepaid marketing and advertising program for itself for
  the next two to three years. The company has a four years left
  of the five-year marketing agreement with the best selling
  Russian Pop Music star Philip Kirkorov. Sony Latin have
  recently released Mr. Kirkorov's new album in Spanish.  The
  company has an endorsement agreement with Lenny Krayzelburg, a
  professional swimmer. Mr. Krayzelburg has won three gold
  medals during the last Olympic games in Sydney. The company
  sponsors approximately 10 racing teams with Mack McClellan
  Motor sports in charge of its racing program which includes
  NASCAR Winston Cup, INDY, ARCA, Open Wheel Racing, Grand
  American Series, IRL, Midgets, USAC. Tony Elliott of KoKomo,
  Indiana. Tracy Hines of New Castle, Indiana. Jay Drake of Val
  Verde, California. Becca Anderson of Houston, Delaware.
  Brandon Erwin of Denton, Texas. Scott Deware of Easton,
  Masachusets. Todd Kelley of Russiville, Indiana. Rick Mast
  drives car #50 - Nascar Winston Cup. Jack Willes Charlotte
  North Corolina. Jon Leavy Miami, Florida.

BUSINESS STRATEGY.

  The new income producing strategies are being developed for
  International Brands, Inc./WorldBestBuy.com. Some of the new
  developments such us bridging into Ownership and Management of
  Income Producing Properties in San Diego County.
  Banner Management System, to create an advertising network.
  Internet-Auctions and Internet-Reverse Auctions.
  Our organization currently in the implementation phase of an E-
  Commerce solution for International Marketing Strategies and
  Programs for a selection of over 40,000 Food/Non-Food items
  for  "One-Stop E-Shopping" convenience.
  Stock Distribution Strategy of International Brands, Inc.
  International Brands, Inc./WorldBestBuy.com commission based
  brokerage.

  Due to the instability of financial markets and a negative
  perception towards companies whose main business is e-
  commerce,       International Brands, Inc. common stock is
  trading at its lowest levels.
  International Brands, Inc. has adopted a new and additional
  business strategy to International Brands, Inc. as a second
  leg to its e-commerce business, to generate positive cash flow
  and to take advantage of company tax-loss carry-forward.
  The company will be obtaining capital via Limited
  Partnerships, to purchase income-producing properties in San
  Diego County with no mortgages, where International Brands,
  Inc is a General Partner for 45% of income and appreciation.
  As soon as International Brands, Inc. will obtain capital for
the first property - it will declare the cash dividend.
  As soon as International Brands, Inc. will obtain capital for
  the second property it will increase the cash dividend. The
  company from now and on will duplicate this moneymaking
  formula.
  The company has adapted this strategy as a permanent solution
  to increase the price of the stock to provide liquidity to the
  shareholders and enhance shareholder value.
  President and CEO of International Brands, Inc. Steven
  (Vladislav) Zubkis is also a General Partner in above-
  mentioned Limited Partnership.
  Mr. Zubkis Percentage Interest in Partnership is equal to 5%.
  Mr. Zubkis from 1984 to 1986 have taken a few real estate
  construction and development related programs in New York
  University's - School of Continuing Education. During these
  years Mr. Zubkis also have passed an exam for New York Real-
  Estate license.
  From 1984 to 1986 Mr. Zubkis worked for Brooklyn based,
  Irpinia Construction Company as a Project Manager. Irpinia was
  owned and operated by Gargano Family. Prior to Mr. Zubkis
  employment, Irpinia was a subcontractor specializing only in
  brick laying aspect of construction. After Irpinia have hired
  Mr. Zubkis as a Project Manager, Irpinia have become a real
  estate builder - developer and income producing property owner
  and manager. Mr. Zubkis responsibilities in Irpinia varied
  from land acquisition to approval of building plans and
  obtaining necessary construction permits. From lining up
  subcontractors for all other aspects of construction,
  excluding brick work to scheduling a delivery of necessary
  construction materials to the job site. From timing the
  sequence of subcontractors performing their projects to
  overseeing the work of subcontractors its quality, timing and
  making sure that performed work is done according to the
  plans. In addition to the above-mentioned duties Mr. Zubkis
  was responsible for troubleshooting various day to day
  problems, implementing and coordination of these changes
  implementation throughout the project as well as communication
  among designers, architects engineers, city planning
  commission and city inspectors in order to obtain a final
  Certificate of Occupancy. In many instances Mr. Zubkis was the
  only liaison between the company owners Carmine and Rosa
  Gargano and subcontractors.
  From the time Mr. Zubkis have spent with Irpinia Construction,
  until now - construction and improvements, were not Mr. Zubkis
  main business, but a hobby. From 1993 to 2001 in California
  and specifically in San Diego County, Mr. Zubkis have
  developed various construction resources and contacts. As a
  General Partner and for his Partnership Interest, the
  Partnership will be able to implement necessary property
  improvement by utilizing these resources and improve the
  property in many cases at subcontractor cost, which is the
  cost of labor plus materials. Due to the fact that San Diego
  County is in close proximity to the Mexican border, the cost
  of labor is allot less than the cost of labor in most of the
  United States of America.
  International Brands, Inc. have gone already through a drastic
  reorganization and have cut operational costs, further cost
  cutting will occur when company will relinquish its space and
  move its office to a location which will be provided by the
  President and CEO rent-free to the company. With rent free
  office space, one part time employee and one part time
  accountant, in addition to Z3 Capital, Corp. with whom
  International Brands, Inc. have contractual arrangement and a
  note payable which is being satisfied by Z3 Capital, Corp.
  paying for all of the expanses related to an upkeep
  maintenance, new developments and implementations of
  WorldBestBuy.com e-commerce engines - this cost saving
  strategy should payoff by enabling International Brands, Inc.
  to declare the cash dividends and to keep increasing them,
  every time the company will acquire additional property.
  International Brands, Inc. will be acquiring solely debt free
  income producing residential real estate in San Diego County.
  Due to our demographic studies, which indicate, that San Diego
  County is an excellent location for such an investments.  For
  instance, ownership of rental properties in San Diego, which
  has been cited in many surveys and reports as the most
  desirable place to live in the entire United States, can
  provide a steady, predictable rate of return year after year.
  In other words, the annual ROI on our real estate investments
  will provide a steady source of income.  San Diego is the
  sixth largest city in the United States and has the second
  fastest growth rate. Housing is already tight in San Diego and
  is going to get a lot tighter. According to the San Diego
  Association of Governments (SANDAG) Board of Directors, 2020
  Cities/Counties Forecast Profiles, which was released in
  February 1999 for local agency review. San Diego will by the
  year 2005, have 2,200,000 fewer housing units than it has
  people, resulting in rapidly escalating property values and
  rental rates. Statistically for the past 100 years, the
  property values in US double every seven years, however if we
  rely on the SANDAG forecast, San Diego County will appreciate
  much faster.
  According to the Department of Labor, San Diego ranks 57th in
  the nation for average annual pay, ahead of tens of thousands
  of other communities. Workers in San Diego can afford middle-
  to high-middle-class rents and are happily paying them to
  avoid 45-60 minute commutes and to be able to live in one of
  the cleanest, brightest, most robust urban areas in the world.
  Both San Diego County and the city of San Diego operate under
  the most landlord-friendly Civil and Commercial statutes of
  any major American city. There is no rent control of any sort
  and no frivolous loopholes that allow deadbeat tenants to stay
  on month after month without paying rent.  San Diego has the
  mildest, most perfect climate in California and, quite
  possibly, the entire United States. Summers are cool, winters
  are warm. In these days of skyrocketing energy costs, the fact
  that San Diegans almost never have to turn on their furnace or
  air conditioner makes it an even more desirable place to live.
  NAFTA agreement between US and Mexico, gave an opportunity to
  many US based and Multinational companies which selling
  products into US market to setup assembly plants (makaladoras)
  and use inexpensive Mexican labor for assembly process,
  however management and their families are relocated to San
  Diego and they commute to work across the border to Mexico.
  These residents of San Diego very seldom buy properties - they
  are transients and make very good tenants, also San Diego is a
  strategic military base and families of military personal are
  good tenants as well. San Diego is a part of California - an
  earthquake zone; therefore building multilevel highways is
  against the law. All the highways which were planned are
  already built and to avoid further growth and traffic jams, in
  San Diego County is unofficial moratorium (no building
  permits) for new multiple unit dwellings, unless of course a
  builder or a developer decides to invest in red light district
  (low income) to improve the area. San Diego County has grown
  from 1.4 million people, 7 years ago to 2.7 million people
  today. Despite of all limitations, the County keeps growing.
  For these reasons and more we anticipate a successful
  implementation of these, new to International Brands, Inc.
  business strategy.

OPERATIONS
  International Brands, Inc. is in the process of implementing a
  series of cost cutting moves. The Company will relinquish its
  currently leased office property and transition its
  headquarters to a location to be provided by the President and
  CEO, Steven Zubkis, rent-free to the company. We also intend
  to employ independent contractors and temporary personnel on
  an as needed basis for support services. In addition, Z3
  Capital, Corp. with whom International Brands, Inc. has a
  contractual arrangement for services in payment of notes
  payable to the Company, will provide additional support
  services, maintenance, research and technological development
  and implementation of WorldBestBuy.com e-commerce engines.
  The primary areas of operations going forward will concentrate
  on e-commerce and residential real estate development.

E-Commerce
  WorldBestBuy.com International is implementing an e-commerce
  strategy to offer the most competitive product pricing, value
  added programs and excellent customer service.
  The Banner-Management system once development will be
  completed and           marketing strategy will be implemented
  will provide WorldBestBuy.com via various contractual and
  Joint-Venture agreements, with a network of second-tier and
  third-tier mostly privately owned websites, for its
  advertising needs and an income-producing opportunity will
  became available in reselling advertising banners to other
  companies.

  We believe that free of charge, when listing - regular
  auctions and free of charge, when listing - reverse auctions,
  do create an opportunity in internet-auctions business.
  Currently WorldBestBuy.com have already developed and
  implemented some of these auction engines, however further
  technical developments and improvements are required as well
  as designing and implementing the marketing strategies for
  these auctions.
  The new area of an e-commerce sector for International Brands,
  Inc. and where the company have put its emphasis and currently
  in implementation phase, is the e-commerce mechanism to
  provide internationally world-class services and complete
  product selection through a broad variety of national brands
  and private label programs Via the Largest Retailer-Owned
  Grocery Distributor in the Western United States.
  International Brands, Inc/ WorldBestBuy.com International have
  Executed Commission Based Agent Agreement on sales developed
  by our organization in the range of 3-5% over the net product
  cost and based on the value of the merchandise.
  The agreement is based on each individual transaction with our
  specified commission being built into the quotation. Once the
  purchase agreement have been obtained from the buyer, secured
  method of payment is implemented, shipment is completed and
  payment is received against the invoice, a check would be
  issued to our company.

  Extensive product mix, competitive pricing, efficient
  logistics and broadened corporate brand selections are
  WorldBestBuy.com's International absolute market advantages.

  This new e-commerce strategy is being implemented via agent
  agreement with an experienced international distributor in
  operation for over 30 years and is recognized as a quality
  supplier of goods and services throughout the Pacific Region.

  By using the buying power of its parent company, we are able
  to take advantage of volume purchasing in order to offer the
  lowest price.

  WorldBestBuy.com International is implementing an e-commerce
  strategy to offer the most competitive product pricing, value
  added programs and excellent customer service.

  WorldBestBuy.com International will offer a selection of over
  40,000 food/non-food items for "One-Stop E-Shopping"
  convenience.

  International Brands, Inc/WorlBestBuy.com through its agent
  agreement will also provide "Direct Full Container Load
  Shipments" from corporate brand vendors and national brand
  manufacturers in order to reduce costs even further. This
  extensive experience with international logistics will allow
  us to offer added value services and prompt delivery.

  International Brands, Inc/WorldBestBuy.com International
  through its agent agreement falls into wholesale distribution
  infrastructure of 10 distribution centers throughout the
  Western United States with a combined team of 4,000 employees
  to service retail and wholesale needs.

          WorldBestBuy.com   International's   Categories    will
          include but are not limited to the following.

  GROCERY - Commodity items like Flour, Rice, Sugar,
  Cooking/Salad Oils; Canned Fruits & Vegetables; Household
  Paper Products; Ramen; Snack Foods; Canned Meats; Beverages.
  SPECIALTY - Ethnic Products, Gourmet Foods, Health Foods,
  Seasonal & Holiday Foods.
  HEALTH & BEAUTY AIDS - Baby Needs, Cosmetics, Hair Care,
  Feminine Hygiene, and O.T.C. Health Care.
  HOUSEWARES &  HARDWARE - Automotive, Candles Bake ware/Kitchen
  Accessories, Pet Care, School Supplies, Seasonal and Holiday
  Items.
  DELI - Butter, Margarine, Cheese, Meats, Yogurts, Whipping
  Cream.
  FROZEN - Bakery Products, Dinner Entrees, Fruits, Ice, Juices,
  Pizza, Potatoes, Seafood, Toppings, and Vegetables.
  SERVICE DELI - Thaw & Serve Bakery, Bulk Cheeses, Convenience
  Foods, Salads, Side Dishes, Foodservice.
  ICE CREAM / DAIRY / BAKERY - Full Line of Products.
  MEAT - Beef, Pork, Poultry, Lamb, Seafood.
  PRODUCE / EGGS - Fruits, Vegetables, Fresh Flowers and Plants.

  International  Brands, Inc/WorldBestBuy.com International  will
            provide PRIVATE LABEL BENEFITS.

  Products are competitively priced lower against all brands!

  Quality compares to equal or better than the national brands!

  We  fall  into  infrastructure with Quality  Control  division,
  which   conducts  independent  lab  testing  analysis,  sensory
  evaluations,  and plant visits to ensure that  each  and  every
  product we sell meets the highest standards.

  Private Label  products are handpicked to ensure quality.  They
            represent the "best of the best."
  Stock Distribution Strategy of International Brands, Inc.  have
  been designed, developed and announced in the past. However  to
  implement  this technique which will generate various financial
  instruments  of other companies for International Brands,  Inc.
  shareholders  at no additional cost, could poses  various  risk
  factors   for   International  Brands,   Inc.   and   for   its
  shareholders. Therefore this strategy must be implemented  with
  great  caution  and  with appropriate  due  diligence.  We  are
  proceeding  with this plan, however up to this  date,  we  have
  not  been  able  to isolate a proper candidate  and  facilitate
  this  candidate in going Public. While in the process of taking
  this  company  Public, we will distribute  certain  percent  of
  issued   and  outstanding  shares  of  this  company   to   our
  shareholders.  We are constantly looking and believe  that  the
  right opportunity will present itself.

  In  1998 and 1999, International Brands, Inc. have signed a few
  letters  of intent with few high rank government officials  and
  celebrities  of  former USSR Republics and  Russia.  There  are
  various  opportunities  for  International  Brands,  Inc.   and
  WorldBestBuy.com  to  broker products,  natural  resources  and
  services  between  East and West online  and  via  old  fashion
  method  of  negotiations. An ability to utilize both  will  aid
  each  other.  Currently we are trying to broker  a  transaction
  between  a  large NYSE US based company and crude oil producers
  in  Russia, Kazakhstan, Azerbaijan, Turkmenistan, Tatarstan and
  Daghestan  for 20 year supply contract for 12 million  tons  of
  crude  oil  a year. Currently we in the process to negotiate  a
  Joint   Venture   for   exploration,  extraction,   production,
  management of petroleum resources and exportation of crude  oil
  as  well  processing of high-grade petroleum products according
  to  new  European  Union  environmental  standards.  The  Joint
  Venture  partners  will be one of the Caspian  Basin  Countries
  with 500 Million to one Billion tons of crude oil reserves  and
  one  or  more  Multinational  Petroleum  Companies  with  above
  mentioned   experience.  As  part  of  the  deal  International
  Brands,  Inc.  if  successful will have  a  production  sharing
  agreement  and  set  commissions  charge  per  each  barrel  of
  extracted   and  sold  crude  oil  or  a  refined   byproducts.
  Currently International Brands, inc. representing as  an  agent
  a  largest  retailer-owned grocery distributor in  the  Western
  United  States  of America with 40,000 food/non-food  items  in
  Russia,    Kazakhstan,   Tatarstan,   Turkmenistan,    Georgia,
  Azerbaijan,   Moldova,   Ukraine  and  Lithuania.   Number   of
  Governmental  officials  from  above  mentioned  Countries  has
  expressed   an  interest  in  purchasing  these  products   via
  International  Brands,  Inc.  for purposes  of  establishing  a
  wholesale-clubs  type  of Costco. These  opportunities  do  not
  require  any  cash  investments  or  cash  expenditures,  these
  opportunities are available to International Brands,  Inc.  and
  to  WorldBestBuy.com via personal contacts of company President
  and  CEO Steven (Vladislav) Zubkis. We are very exited to  have
  an   opportunity  to  be  involved  in  transactions  of   this
  magnitude.  We  hope  that one day some of  these  transactions
  will be consummated.

  Possible uncertainties, which may have an impact on the
International Brands, Inc.,
  is the ability for Steven (Vladislav) Zubkis to perform his
  duties as a President and CEO
  of International Brands, Inc. due to his legal challenges with
  SEC. The company currently is appealing a default judgment
  against the company for over than $7,000,000.00 (Seven Million
  Dollars). A loss of these appeal will force the company to
  file an appeal in the appellate court of New Jersey, the loss
  of that appeal will force the company to file the appeal in
  the Supreme Court of United States of America, the loss of
  these appeal may force the company to settle this judgment
  with the State of New Jersey. There is a risk of other
  lawsuits that may arise, due to the low price of the company
  stock. And finally there is a risk of Steven (Vladislav)
  Zubkis not being able to perform his duties due to his health
  condition or loss of his life.

  International Brands, Inc/WorldBestBuy.com in 1999 have lost
  $3.17 per share, a total of $180,985,747.00 with sales of
  $32,714.00. In 2000 the company lost 0.055 (five and a half
  cents) cents per diluted share, a total of $22,063,992.00.
  From 1994 to 2001 the company have either spent in cash or
  issued stock, for services like: capitalization, developments,
  marketing, advertising as well as employees incentives, for a
  total of $374,786,000.00. We believe that this tax-loss carry-
  forward is one of the most valuable assets International
  Brands, Inc. and WorldBestBuy.com controls and we are planning
  to take a full advantage of this opportunity.


International Brands continues its expansion into global markets.
In 1998 and 1999, International Brands, Inc signed a letters of
intent with a few high-ranking government officials and
celebrities of former USSR Republics and Russia. There are
various opportunities for International Brands, Inc. and
WorldBestBuy.com to broker products, natural resources and
services between East and West online and via old fashion method
of negotiations. Currently International Brands, inc.
representing as an agent a large retailer-owned grocery
distributor in the Western United States of America with 40,000
food/non-food items in Russia, Kazakhstan, Tatarstan,
Turkmenistan, Georgia, Azerbaijan, Moldova, Ukraine and
Lithuania. Number of Governmental officials from above mentioned
Countries has expressed an interest in purchasing these products
via International Brands, Inc. for purposes of establishing a
wholesale-clubs type of Costco. These opportunities do not
require any cash investments or cash expenditures, these
opportunities are available to International Brands, Inc. and to
WorldBestBuy.com via professional relationships of company
President and CEO Steven Zubkis. We are very exited to have an
opportunity to be involved in transactions of this magnitude. We
hope that one day some of these transactions will be consummated.

EXCEPT FOR HISTORICAL INFORMATION CONTAINED IN THIS REPORT,
INFORMATION CONTAINED IN THIS FORM 10-KSB CONTAINS "FORWARD-
LOOKING STATEMENTS" WITHIN THE MEANING OF THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995, WHICH CAN BE IDENTIFIED BY THE USE
OF FORWARD-LOOKING TERMINOLOGY SUCH AS "MAY", "WILL", "EXPECT",
"PLAN", "ESTIMATE", OR "CONTINUE" OR THE NEGATIVE THEREOF OR
OTHER VARIATIONS THEREON OR COMPARABLE TERMINOLOGY. THERE ARE
CERTAIN IMPORTANT FACTORS THAT COULD CAUSE RESULTS TO DIFFER
MATERIALLY FROM THOSE ANTICIPATED BY SOME OF THESE FORWARD-
LOOKING STATEMENTS, INCLUDING WITHOUT LIMITATION, THE EFFECTS OF
CHANGES IN ECONOMIC CONDITIONS AND CERTAIN OF THE "RISK FACTORS"
ENTITLED "COMPETITION," INVESTORS ARE CAUTIONED THAT ALL FORWARD-
LOOKING STATEMENTS INVOLVE RISK AND UNCERTAINTY.

GENERAL
The Company derives revenue solely from its internet mega-
shopping site where consumers can purchase a wide range of
products from around the world at discount prices.

CONTINUING OPERATIONS
  The after tax loss on continuing operations, for the year
  ended December 31, 2000 was $17,476,876 compared to a loss of
  $ 180,985,747 in the year ended December 31, 1999.  Revenue
  for 2000 was $ 41,299 compared to $ 32,714 in 1999. The
  majority of Worldbestbuy.com clients were located in the
  United States, but with the efforts of the global marketing
  campaign, the Company expects to expand its client base to
  Europe and the Americas in 2001.

Corporate revenues increased 1999 to 2000, as the Company was
operating and still operating e-commerce site Worldbestbuy.com
The majority of revenues were earned in the first and second
quarter of 2000.  Due to various market factors, the Company was
forced to direct resources to significant cost measures at the
expense of internet sales development.  With  the cost cutting
measures fully implemented and global marketing campaign fully
implemented, the Company will be able to focus its efforts on
Real Estate and Internet revenue enhancement in the year 2001.
  Corporate SG&A includes the cost of Corporate officers, the
  Corporate offices, and other recurring expenses related to
  maintaining the corporate operations, website development and
  support, shareholder services, and audit and reporting
  expenses. Corporate SG&A in 2000 was $ 18,889,241 compared to
  $ 181,104,559in 1999, a decrease primarily due to a
  significantly lower stock price for valuation of common equity
  securities issued for services rendered and significant
  corporate cost cutting measures employed in the third and
  fourth quarters of 2000.

Advertising expenditures increased form $17,141,806 in 2000 from
$ 282,134 in 1999 as the Company began full implementation of its
global marketing campaign.
Net loss from operation was $17,476,876 in 2000 compared to $
180,985,747 in 1999. Depreciation and amortization totaled $6,318
in 2000 compared to $12,725 in 1999. The company refrained from
investment in depreciable assets and continued its reliance upon
consultants to provide the necessary equipment.  No amortization
expense was recognized as Goodwill acquired in the merger with
TeleSpecial.com was determined to be fully impaired as of
December 31, 2000


PLANNED OPERATIONS

Residential Real Estate
During 2000, International Brands developed plans to enter the
residential real estate market through various limited
partnerships of which, International Brands will be managing
partner. The company will be obtaining capital via these Limited
Partnerships, to purchase income-producing properties in San
Diego County area.  These operations are expected to fully
implemented by the end of 2001.
International Brands, Inc. will be acquiring solely debt free
income producing residential real estate in San Diego County. Our
demographic studies indicate that San Diego County is an
excellent location for such an investments.  San Diego is the
sixth largest city in the United States and has the second
fastest growth rate. Housing is already tight in San Diego and is
going to get a lot tighter. According to the San Diego
Association of Governments (SANDAG) Board of Directors, 2020
Cities/Counties Forecast Profiles, which was released in February
1999 for local agency review. San Diego will by the year 2005,
have 2,200,000 fewer housing units than it has people, resulting
in rapidly escalating property values and rental rates.
Statistically for the past 100 years, the property values in US
double every seven years.  However if we rely on the SANDAG
forecast, San Diego County will appreciate much faster. According
to the Department of Labor, San Diego ranks 57th in the nation
for average annual pay, ahead of tens of thousands of other
communities. Workers in San Diego can afford middle- to high-
middle-class rents and are happily paying them to avoid 45-60
minute commutes and to be able to live in one of the cleanest,
brightest, most robust urban areas in the world.   Both San Diego
County and the city of San Diego operate under the most landlord-
friendly Civil and Commercial statutes of any major American
city. In these days of skyrocketing energy costs, the fact that
San Diegans almost never have to turn on their furnace or air
conditioner makes it an even more desirable place to live. For
these reasons and more we anticipate a successful implementation
of these, new to International Brands, Inc. business strategy.

LIQUIDITY AND CAPITAL RESOURCES
The Company continues to be challenged for capital.  Despite its
dilutive effects, International Brands continues to utilize its
common equity to finance operations of the Company.  The Company
continues to raise capital through the conversion of warrants,
but due to the recent downturn in share price, the capital
derived from warrants has been negatively impacted.  The Company
expects its residential real estate operations to provide needed
liquidity for Company operations and increase shareholder value.

ITEM 7A.  QUANTITATIVE AND QUALITATIVE DISCLOSURE OF MARKET RISK

Competition from larger and more established companies   may
hamper marketability.   IBI may face intense competition from
similar, more well established competitors, including national,
regional and local companies possessing substantially greater
financial, marketing, personnel and other resources than IBI.
IBI may not be able to market or sell its products if faced with
direct product competition from these larger or more established
companies.
Issuance of future shares may dilute investors share value.  The
Articles of Incorporation as amended of IBI authorizes the
issuance of
400,000,000 shares of common stock.  The future issuance of all
or part of the remaining authorized common stock may result in
substantial dilution in the percentage of the Company's common
stock held by the its then existing shareholders.   Moreover, any
common stock issued in the future may be valued on an arbitrary
basis by IBI.  The issuance of the Company's shares for future
services or acquisitions or other corporate actions may have the
effect of diluting the value of the shares held by investors, and
might have an adverse effect on any trading market, should a
trading market develop for the Company's common stock.


ITEM 8.   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA






                   INTERNATIONAL BRANDS, INC.

                      FINANCIAL STATEMENTS
                   DECEMBER 31, 2000 AND 1999
                             TABLE OF CONTENTS


Independent Auditors? Report                                    1


Balance Sheets                                                  2


Statements of Income                                            4


Statement of Stockholders? Equity                               5


Statements of Cash Flows                                        7


Notes to Financial Statements                                   8






                        INTERNATIONAL BRANDS, INC.
           (FORMERLY KNOWN AS STELLA BELLA CORPORATION, U.S.A.)
                              BALANCE SHEETS
                        DECEMBER 31, 2000 AND 1999



ASSETS


                                      12/31/00       12/31/99

Current assets:
  Cash                                $ 671          $ 6,457
  Inventory at lower of FIFO cost or    -              4,429
  market (Note 1)                       -              85
  Prepaid and other current assets
Total current assets                    671            10,971
Property and equipment: (Note 1)
  Furniture and fixtures                38,468         38,468
                                        21,750         21,750
Computers and equipment
                                        60,218         60,218
Less: Accumulated depreciation          (57,218)       (50,900)
Net property and equipment              3,000          9,318

Other assets:
  Investments at cost (Note 3)          -              35,000
  Notes receivable - related party      3,832,650      1,598,000
  (Note 7)                              200            200
  Deposits and other assets
Total other assets                      3,832,850      1,633,200

Total assets                          $ 3,836,521    $ 1,653,489
                        INTERNATIONAL BRANDS, INC.
           (FORMERLY KNOWN AS STELLA BELLA CORPORATION, U.S.A.)
                              BALANCE SHEETS
                        DECEMBER 31, 2000 AND 1999


              LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)


                                      12/31/00       12/31/99

Current liabilities:
  Accounts payable                    $ 334,354      $ 241,267
  Due to related party (Note 7)         51,229         +-
  Accrued expenses and other current
  liabilities                           7,786,070      7,787,885
     (Note 8)
Total current liabilities               8,171,653      8,029,152

Commitments and contingencies (Note                    -
8)
370
Stockholders' equity (Note 5):
  Common Stock, $.001 par value,
  authorized
     restricted common stock;           67,695         10,083
  67,695,347
    and 10,083,054 shares issued and
  outstanding
    at December 31, 2000 and 1999,      30,604         57,612
  respectively
  Restricted Common Stock, $.001 par
  value,
     400,000,000 shares authorized;
  30,604,411                            621            627
     and 57,612,293 shares issued
  and outstanding at
     December 31, 2000 and 1999,
  respectively                          753            -
  Series IV Convertible Preferred       365,764,1      346,278,09
  Stock, $.001                          54             8
     stated value, 19,681,230 shares    (370,198,      (352,722,0
  authorized;              620,744      959)           83)
  and 626,639 shares issued and
     outstanding at December 31,
  2000 and 1999,
     respectively
  Series VI Convertible Preferred
  Stock, $.001
     stated value, 19,581,230 shares
  authorized; 752,515 and 0 shares
  issued and outstanding at
     December 31, 2000 and 1999,
  respectively
Additional paid-in capital
Accumulated deficit
Total stockholders' equity              (4,335,13      (6,375,663
                                        2)             )
Total liabilities and stockholders'   $ 3,836,521    $ 1,653,489
equity


                        INTERNATIONAL BRANDS, INC.
           (FORMERLY KNOWN AS STELLA BELLA CORPORATION, U.S.A.)
                           STATEMENTS OF INCOME
              FOR THE YEARS ENDED DECEMBER 31, 2000 AND 1999




                                      Year           Year

                                      Ended           Ended

                                      12/31/00       12/31/99

Net sales                             $ 41,299       $ 32,714

Cost of goods sold                      27,928         14,673
Gross profit                            13,371         18,041

Operating expenses:
                                        17,141,80      282,134
Advertising                             6              180,822,4
                                        9,650,407      25
General and administrative
                                        (26,778,8      (181,086,
Loss from operations                    42)            518)

Other income:
   Interest income                      1,392,907      100,771
   Recoveries of note receivable        7,895,759
   (Note 7)                             13.300          -
   Gain on liquidation of investment
   (Note 4)
                                        (17,476,8      (180,985,
Loss before provision for taxes         76)            747)

Provision for income taxes (benefit)    -              -
(Note 6)
                                      $ (17,476,8    $ (180,985,
Net loss                                76)            747)

                                        (0.16)         (3.17)
Loss per share (Note 1)


                                        107,647,8      59,905,83
Weighted average number of common       53             4
shares
   outstanding



<TABLE>
<S>               <C>       <C>
                           INTERNATIONAL BRANDS, INC.
              (FORMERLY KNOWN AS STELLA BELLA CORPORATION, U.S.A.)
                        STATEMENT OF STOCKHOLDERS? EQUITY

FOR THE YEARS ENDED DECEMBER 31, 2000 AND 1999

                          Shares                                        Amount
                       Common   Prefe  Prefe             Common    Prefe    Prefer
               Commo   Stock   rred   rred    Common     Stock     rred     red      Addition   Accumula
                 n     Restri   Stock  Stock   Stock     Restric   Stock    Stock        al         ted
               Stock   cted           Serie               ted              Series    Paid-in     Deficit
                               Serie  s VI                        Serie      VI      Capital
                               s IV                                s IV

Balance at      10,08   57,612   626,   -       $ 10,0    $ 57,61   $ 627    $ -       $346,27    $ (352,72
December 31,    3,054   ,293     639                83      2                           8,098       2,083)
1999
                                        -                             -        -
Shares issued   -       1,195,   -                   -      545                         394,43      -
for officer             000                                                             0
                                        -                             -        -
compensation    -                -                   -      1,483                                   -
(Note 11)               5,349,                                                          2,432,
                        248             -                             -        -        674
Shares issued   -                -                   -      77                                      -
for services
   (Note 11)            77,000          -                             -        -        245,10
                -                -                   -      19,90                       2           -
Shares issued                                               1
in settlement           20,691          -                             -        -
of              -       ,933     -                   -                                  16,394      -
   litigation                                               5,876                       ,612
(Note 11)
                        568,66          -                             (6)      -
Shares issued   -       2        (5,8                -                                  21,984      -
to for                           95)    1,25                223       -        753
advertising     -                       2,36         -                                              -
   (Note 11)                     -      2                   -
                        223,33                                                          6
Shares issued           1                                             -        -
for exercise    -                                    -                                  (753)       -
of                      -        -      (499                2,499
   warrants                             ,847                          -        -
                57,61                   )         57,6                                              -
Shares issued   2,293            -                  12      (57,6     -        -        (1,999
for conversion         2,449,                              12)                         )           (17,476
of              -       237      -      -            -                                              ,876)
   Series IV                                               -
Preferred                              -                                               -
Stock to               (57,61
   common              2,293)                                                          -
stock
                       -
Series VI
shares issued

Shares issued
for conversion
of
   Series VI
Preferred
Stock to
   Common
Stock

Expiration of
restriction on
   common
stock

Net loss

Balance at      67,69   30,604   620,   752,    $ 67,6    $ 30,60   $ 621    $ 753     $365,76    $ (370,19
December 31,    5,347   ,411     744    515         95      4                           4,154       8,959)
2000



INTERNATIONAL BRANDS, INC.
              (FORMERLY KNOWN AS STELLA BELLA CORPORATION, U.S.A.)
                        STATEMENT OF STOCKHOLDERS? EQUITY
                 FOR THE YEARS ENDED DECEMBER 31, 2000 AND 1999


                          Shares                                        Amount
                       Common   Prefe  Prefe             Common    Prefe    Prefer
               Commo   Stock   rred   rred    Common     Stock     rred     red      Addition   Accumula
                 n     Restri   Stock  Stock   Stock     Restric   Stock    Stock        al         ted
               Stock   cted           Serie               ted              Series    Paid-in     Deficit
                               Serie  s VI                        Serie      VI      Capital
                               s IV                                s IV

Balance at      1,005   9,078,   647,   -       $ 1,00    $ 9,078   $ 648    $ -       $173,058   $ (171,73
December 31,    ,000    054      749                 5                                  ,772        6,336)
1998
                                        -                   40,00     -        -
Shares issued   -       40,000   -                   -      0                           119,960     -
to Z3 in                ,000                                                            ,000
exchange                                -                             -        -
   for          -                -                   -      13,00                                   -
services for a          13,000                              0                           38,987,
note (Note 7)           ,000            -                             -        -        000
                -                -                   -                                              -
Shares issued                                               75
for officer             108,41          -                             -        -        406,609
                -       0        -                   -                                              -
compensation                                                70
(Note 11)                               -                             -        -        347,430
                -       70,000   -                   -                                              -
Shares issued                                               4,000
for services                            -                             -        -        12,996,
   (Note 11)    -       4,000,   -                   -                                  000         -
                        000                                 304
Shares issued                           -                             (21)     -
in settlement                                        -                                  522,429     -
of              -       270,38   (21,                       163
   litigation           5        110)
(Note 11)                               -                             -        -        (142)
                9,078                             9,07                                              -
Shares issued   ,054             -      -            8      (9,07     -        -
to Z3 for               163,49                              8)                                      (180,98
services        -       8        -                   -                                  -           5,747)
   (Note 11)                                               -
                                                                                       -
Shares issued          (9,078
for exercise           ,054)
of
   warrants            -

Shares issued
for conversion
of
   Series IV
Preferred
Stock to
   common
stock

Expiration of
restriction on
   common
stock

Net loss

Balance at      10,08   57,612   626,   -       $ 10,0    $ 57,61   $ 627    $ -       $346,278   $ (352,72
December 31,    3,054   ,293     639                83      2                           ,098        2,083)
1999

</TABLE>
                        INTERNATIONAL BRANDS, INC.
           (FORMERLY KNOWN AS STELLA BELLA CORPORATION, U.S.A.)
                         STATEMENTS OF CASH FLOWS
              FOR THE YEARS ENDED DECEMBER 31, 2000 AND 1999




                                               Year           Year

                                               Ended           Ended

                                               12/31/00       12/31/99
                                                            ,
Cash flow from operating activities:
                                               $ (17,476,8    $ (180,985,
Net loss                                         76)            747)
  Adjustments to reconcile net loss to net
  cash used by operations:                       6,318          12,725
  Depreciation                                   2,410,937      132,406,6
  Common stock issued as compensation for        16,833,73      87
  services                                       8              -
  Common stock issued for advertising            -              40,000,00
  services                                       (2,234,65      0
  Common stock issued for note receivable        0)             7,623,947
  Net adjustments to note receivable             245,179        347,500
  Common stock issued in settlement of           13,300         -
  lawsuits
  Gain on sale of investment                     4,429          6,472
Changes in assets and liabilities:               85             (20)
  Decrease in inventories                        -              2,130
                                                 (2,655)        26,205
Increase in prepaids and other current assets
  Decrease in deposits and other assets
  Increase in accounts payable and other
  current liabilities
                                                 17,276,68      180,464,9
                                                 1              56

Net cash used by operating activities            (200,195)      (520,791)

Cash flows from investing activities:
                                                 159,409        522,732
Exercise of warrants for common stock            35,000         -
  Sale of investment
Net cash provided by investing activities        194,409        522,732

Net increase (decrease) in cash                  (5,786)        1,941
Cash at the beginning of the year                6,457          4,516
Cash at the end of the year                    $ 671          $ 6,457







 1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     A.   Company Background and Organization

          International    Brands,   Inc.   also    doing    business    as
          WorldBestBuy.com   (Formerly  known  as   Tele   Special.com,   A
          Development  Stage Company)  (the Company), a Nevada corporation,
          is  an  Internet sales company selling a wide variety of products
          on the Internet under the trade name WorldBestBuy.com.  Sales are
          primarily  conducted via credit card and are  cleared  through  a
          credit  card  clearing house. During 2001, the Company  formed  a
          limited partnership serving as general partner in the real estate
          acquisition business for residential rental properties located in
          San Diego County, California.

          Prior  to  1999,  the company operated under the name  of  Stella
          Bella  Corporation, manufacturing gourmet coffee beans in a  wide
          variety of blends, roasts and flavors.  The Company also operated
          a  chain  of  coffee houses, which sold whole  bean,  ground  and
          brewed  coffee  produced  by  the Company.   At  that  time,  the
          Company?s  main  product, whole bean coffee, was  sold  primarily
          through grocery stores and retail coffee houses.  The coffee  was
          being  sold  through the Internet. The Company diminished  coffee
          operations during the end of 1999 and is no longer in the  coffee
          business.

          Since  September 1994, the Company has had an agreement  with  Z3
          Capital  Corporation (?Z3") to consult on matters concerning  the
          Company?s  operational and fiscal policies and with the  business
          plan.   In exchange for notes, relief of certain debt obligations
          and  consulting  services, the Company issued a majority  of  its
          outstanding  shares  of  restricted  common  stock  to  Z3.    Z3
          subsequently assigned portions of its right of ownership in these
          shares   to   various  domestic  and  foreign   individuals   and
          corporations  (Note  7).  As of December 31,  2000,  Z3  and  its
          assignees or designees held controlling ownership of the Company.

     B.   Inventory

          As  of December 31, 1999, coffee inventory was stated at the
          lower  of  cost,  computed on a first-in,  first-out  (FIFO)
          basis, or market.  The product was manufactured to order and
          immediately  shipped.  Inventory on hand was raw  materials,
          consisting  of  roasted  beans and flavoring  oils  and  was
          valued  at $4,429.  The Company ceased coffee making  during
          2000  and  the remaining inventory was deemed worthless  and
          written off.



1.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)


     C.   Property and Equipment

          Property  and equipment is stated at cost.  The Company uses  the
          straight-line  method for depreciation over the estimated  useful
          lives of the assets which range from 5 to 7 years.

     D.   Revenue Recognition

          The  Company?s  primary business is the sale of  goods  over  the
          Internet.  Sales are recognized when cash, in the form  of  check
          or  credit card receipt is received, thereby confirming the sales
          order.    For  all product sales transactions with its customers,
          the Company acts as a principal, takes title to all products sold
          upon  shipment, bears credit risk, and bears inventory  risk  for
          returned   products  that  are  not  successfully   returned   to
          suppliers,   although   these   risks   are   mitigated   through
          arrangements  with  credit card issuers, shippers  and  suppliers
          from the manufacturer and assumes the risk of ownership.

     E.   Financial Instruments

          The  Company  follows  the  guidance of Statement  of  Accounting
          Standards  (?SFAS?) No. 102, ?Disclosure of Fair Value  Financial
          Instruments?,  which requires disclosure of  the  fair  value  of
          financial  instruments;  however,  this  information   does   not
          represent  the  aggregate net fair value of the Company.   Unless
          quoted  market  price indicates otherwise, the  Company?cash  and
          liabilities approximate fair value.

     F.   Income Taxes

          The  Company uses the liability method of accounting  for  income
          taxes  specified by SFAS No. 109, ?Accounting for Income  Taxes?,
          whereby deferred tax liabilities and assets are determined  based
          on  the  difference between financial statement and tax bases  of
          assets and liabilities using enacted tax rates in effect for  the
          year  in which the differences are expected to reverse.  Deferred
          tax assets are recognized and measured based on the likelihood of
          realization of the related tax benefit in the future.

1.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

     G.   Loss Per Share

          In   February  1997,  the  Financial  Accounting  Standard  Board
          (?FASB?)  issued SFAS No. 128, ?Earning Per Share? which requires
          the  Company to present basic and diluted earnings per share  for
          all  years  presented. The computation of loss per  common  share
          (basic  and diluted) is based on the weighted average  number  of
          shares  actually  outstanding during the  period.   Common  stock
          equivalent  shares  are excluded from the  computation  as  their
          effect is antidilutive.

     H.   Use of Estimates

          The  preparation  of  financial  statements  in  accordance  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.   Actual
          results could differ from those estimates.

     I.   Investments

          Investments in companies in which the Company has less than a 20%
          interest  are carried at cost.  Investments in certain  companies
          in  which the Company owns a 20% or more interest are carried  at
          cost  because the Company does not exercise significant influence
          over their operating and financial activities.

     J.   Advertising

          The  cost  of  advertising is expensed as incurred.  The  Company
          incurred advertising expense of $17,141,806 and $178,632 for  the
          years ended December 31, 2000 and 1999, respectively.

     K.   Stock Issued for Goods and Services

          The  Company follows the guidance of Emerging Issues  Task  Force
          (EITF) 96-18,
          Accounting  for Equity Instruments That Are Issued to Other  Than
          Employees for Acquiring, or in Conjunction with Selling, Goods or
          Services, which provides that
          equity  instruments  issued  to  non-employees  for  property  or
          services other than cash should be recorded at the fair value  of
          the  consideration  received or the  fair  value  of  the  equity
          instrument issued, whichever is more reliably measurable.

2.   GOING CONCERN

  The accompanying financial statements have been prepared in conformity
  with generally accepted accounting principles, which contemplates
  continuation of the Company as a going concern.  However, the Company
  has sustained substantial operating losses in recent years.  In
  addition, the Company has used substantial amounts of working capital in
  its operations.  Furthermore, the Company has incurred losses of $
  17,476,876 and $180,985,747 and working capital deficits of $ 8,170,982
  and $8,018,181 as of and for the years ended December 31, 2000 and 1999,
  respectively.

     Management has been advised by the Company?s Senior Financial Advisor,
     who  was  also the President of Z3 Capital Corporation, that  Z3  will
     continue  to  fund the Company?s continued operations through  private
     placements  of  the  Company?s stock.  Z3 has  demonstrated  continued
     ability  since  1994 to raise capital for the Company.  The  Company?s
     continued viability and its ability to continue as a going concern  is
     dependent  upon  its  ability to issue stock and raise  funds  in  the
     future.

3.   BUSINESS DEVELOPMENTS

     On  January 12, 2000, the Company entered into a merger agreement with
     Tele  Special.Com   (?TSC?) to acquire 100% of the outstanding  common
     stock  of TSC by converting every 200 shares of TSC into one share  of
     International   Brand,   Inc.,  stock.   The  merger   constitutes   a
     reorganization  qualifying under the provisions of Section  368(a)  of
     the Internal Revenue Code of 1954 as amended.

  The agreement states that every 200 shares of $0.001 par value, TSC
  common stock shall be converted into one share of International Brands,
  Inc., $0.001 par value, common stock. Total consideration received by
  TSC was 31,500 shares of International Brands, Inc., with a value of
  $102,375.

     In  December  2000,  the  Company recorded a  goodwill  write-down  of
     $102,375,  which  eliminated all remaining goodwill  of  the  Company.
     Goodwill  was determined to have been impaired because of the  current
     financial  condition  of  the Company and the Company's  inability  to
     generate  future  operating income without  substantial  sales  volume
     increases,  which  are  highly uncertain. Furthermore,  the  Company's
     anticipated  future  cash flows indicate that  the  recoverability  of
     goodwill  is  not  reasonably  assured.  The  goodwill  write-down  is
     included as component of operating expenses in 2000.



3.   BUSINESS DEVELOPMENTS (Continued)

     Merger Unaudited Pro Forma Condensed Statements of Income and Expense

                UNAUDITED PRO FORMA CONDENSED CONSOLIDATED
                      STATEMENT OF INCOME AND EXPENSE

                                         Year ended      Year ended
                                        December 31,    December 31,
                                            2000            1999

Net revenues                            $ 41,299        $  32,714

Operating costs and expenses              (26,820,141      (181,119,2
                                          )                32)

                                          9,301,966        100,771
Other income

Loss from continuing operations before    (17,476,876      (180,985,7
income tax benefit                        )                47)

Income tax benefit                        -                -

Income (loss) from continuing             (17,476,876      (180,985,7
operations                                )                47)

Net loss                                $ (17,476,876   $  (180,985,7
                                          )                47)

Earnings per common share assuming
dilution (or diluted
   earnings per share):                 $ (0.16)        $  (3.17)
 Income (loss) from continuing
 operations per share

Net loss                                $ (17,476,876   $  (180,985,7
                                          )                47)

Weighted average shares outstanding       107,647,853      59,905,834







4.   INVESTMENTS

     A.   Investment in Stella Bella Russia (AOZT)

          The  Company  has  issued 2,000,000 shares of  restricted  common
          stock  to  acquire  51% of Stella Bella Russia  (?AOZT?),  as  of
          December 31, 1994.  Due to AOZT operating in an unstable economic
          environment, the investment is valued at net realizable value  in
          accordance with Accounting Revenue Bulletin (ARB) No. 43 and  FAS
          94.   Consideration  has been given to the Company?s  ability  to
          control the activity of AOZT and current political, economic  and
          currency  stability.   As of December 31,  2000  and  1999,  this
          investment been fully reserved and is carried at $0 value.

     B.   Kona Beverage Company

          On  January  11, 1995, the Company entered into an  agreement  to
          purchase 250 shares or a 2 ? % interest in Kona Beverage  Company
          (Kona) from stock owned by Z3.  In consideration for the purchase
          of  Kona  stock, the Company issued 220,000 shares of  restricted
          common stock to assignees of Z3.  The purchase price of the 2 ? %
          interest  in Kona is $16,556.  The Company?s ability  to  recover
          its investment in Kona is uncertain.  The Company has established
          a 100% valuation reserve for this investment and it is carried on
          the Company?s books at $0 value.

     C.   San Diego Community Broadcasting Corporation

          On  August  7, 1998, the Company purchased 35,000 shares  of  San
          Diego Community Broadcasting Corp., a privately held company, for
          $1  per  share.  At December 31, 1999, the investment was carried
          on  the  books of the Company at the historical cost of  $35,000.
          During 2000, the investment was sold for a gain of $13,300.


5.   CAPITAL STOCK

     A.   Common Stock

          The Company has 67,695,347 shares and 10,083,054 shares of common
          stock  at December 31, 2000 and 1999, respectively.  These shares
          are  part  of the total 400,000,000 shares authorized at December
          31, 2000 and 1999.


5.   CAPITAL STOCK (Continued)

     B.   Restricted Common Stock

          At  December  31,  2000  and  1999  the  Company  has  authorized
          400,000,000 shares of common stock and restricted common stock at
          a  stated  par value of $.001. At December 31, 2000 and  December
          31, 1999, the total restricted shares issued and outstanding were
          30,604,411  and  57,612,293, respectively.   These  shares  carry
          varying degrees of restriction and can be summarized as follows:

                                        2000        1999
         Regulation S shares          32,000,000   32,000,00
                                                          0
         Restricted shares (Rule      56,216,29   25,612,29
         144A)                                3           3
         Total Regulation S and
         Rule 144A stock              88,216,29   57,612,29
                                              3           3

          Regulation S covers the purchase and resale of restricted  shares
          issued  to  foreign  entities.  The  following  foreign  entities
          received restricted common stock designated as Regulation S stock
          pursuant to assignments from Z3:

                                              2000      1999

         Nicosia Investments, LTD, a         -        4,000,000
         Bahamas Company
         Trenton Guaranty Corp., a Bahamas   -        4,000,000
         Company
         Kivah Guaranty Limited, a Bahamas   -        4,000,000
         Company
         Kirachi Corp., a Bahamas Company    -        4,000,000
         Rose Blossom Corp., a Bahamas       -        4,000,000
         Company
         Sumatra Investments, LTD, a         -        4,000,000
         Bahamas Company
         Two Corporation, a Bahamas Company  -        4,000,000
         Camden Guaranty Investment Corp.,
         A Bahamas       Company             -        4,000,000

         Total Regulation S stock issued     -        32,000,00
                                                              0






5.   CAPITAL STOCK (Continued)

     C.   Convertible Preferred Stock

          Series IV

          The  Company  has  authorized 19,681,230  shares  of  redeemable,
          convertible  preferred stock.  The stock has a  stated  value  of
          $.001.   The  stock  pays an annual dividend of  15%  and  has  a
          liquidation value of $35.  The conversion ratio is based  on  the
          Average Bid Price (the prior four week average bid price) divided
          into  the  liquidation value.  After a fixed period of time,  the
          company  may redeem, at the discretion of the board of directors,
          the preferred stock with common shares at the redemption rate  of
          1.25  times  the  liquidation value divided by  the  Average  Bid
          Price.   Each  share contains 400 voting rights.  As of  December
          31, 2000 and 1999, the Company had issued and outstanding 620,744
          shares   and  626,639  shares  of  convertible  preferred  stock,
          respectively.

          Series VI

          The   Company   authorized  19,581,230   shares   of   non-voting
          redeemable, convertible preferred stock.  The stock has a  stated
          value  of  $.001.   Each share is convertible  into  five  common
          shares  at  any  time.  As of December 31,  2000  and  1999,  the
          Company had issued and outstanding 620,744 shares and 0 shares of
          convertible preferred stock, respectively.

          D.   Warrants

               Warrant Series A

               The  Company authorized the issuance of 33,040,000 series  A
               warrants,  covering the right to purchase $0.001 par  value,
               common stock of the Company.  Each warrant allows the holder
               to  purchase  one  share  of common  stock  at  50%  of  the
               preceding  month?s average bid price.  The warrants  may  be
               exercised any time after April 30, 1997 and expire  on  June
               30,  2000.   There  were  9,038,811 and  8,761,133  warrants
               issued  and  outstanding as of December 31, 2000  and  1999,
               respectively.




5.   CAPITAL STOCK (Continued)

     Warrant Series B

     The  Company authorized the issuance of 33,040,000 series B  warrants,
     covering the right to purchase $0.001 par value, common stock  of  the
     Company.   Each  warrant allows the holder to purchase  one  share  of
     common  stock at 60% of the preceding month?s average bid price.   The
     warrants may be exercised any time after April 30, 1997 and expire  on
     June 30, 2000.  There were 9,562,248 and 9,403,128 warrants issued and
     outstanding as of December 31, 2000 and 1999, respectively.

     Warrant Series C

     The  Company authorized the issuance of 33,040,000 series C  warrants,
     covering the right to purchase $0.001 par value, common stock  of  the
     Company.   Each  warrant allows the holder to purchase  one  share  of
     common  stock at 70% of the preceding month?s average bid price.   The
     warrants may be exercised any time after April 30, 1997 and expire  on
     June 30, 2000.  There were 9,674,053 and 9,534,203 warrants issued and
     outstanding as of December 31, 2000 and 1999, respectively.

     Warrant Series D

     The  Company authorized the issuance of 33,040,000 series D  warrants,
     covering the right to purchase $0.001 par value, common stock  of  the
     Company.   Each  warrant allows the holder to purchase  one  share  of
     common  stock at 80% of the preceding month?s average bid price.   The
     warrants may be exercised any time after April 30, 1997 and expire  on
     June 30, 2000.  There were 9,687,883 and 9,581,120 warrants issued and
     outstanding as of December 31, 2000 and 1999, respectively.

E.   Participation Rights

     The company authorized the issuance of 600,800 participation rights to
     the  holders  of  the  Company?s  Series  IV  Redeemable,  Convertible
     Preferred  Stock.  The rights are exercisable if the Company?s  common
     stock  dividend  on  the preferred stock has not  equaled  100  common
     shares  by April 30,2000 and the preferred stock has not been redeemed
     or  converted.  In that case, the right holder may purchase additional
     common  stock equal to one hundred shares, at a price equal to 25%  of
     the  Average Bid Price during the period May 1, 2001 through April 30,
     2002.   The participation rights becomes effective on May 1, 2002  and
     expires on May 30, 2002.  There were 195,187 and 191,186 participation
     rights  issued  and  outstanding as of December  31,  2000  and  1999,
     respectively.
6.   INCOME TAXES

    The  Company?s effective tax benefit on pretax loss differs from the U.
     S.  Federal statutory tax rate for the fiscal year ended December  31,
     2000 and 1999 as follows:


                                         2000           1999



     Federal statutory tax               (34.00%)
     (benefit)                                          (34.00%)

     State taxes, net of federal          (5.83%)        (5.83%)
     tax benefit



                                         (39.83%)       (39.83%)

  Deferred income tax assets and liabilities are computed based on
  temporary differences between the financial statement and income tax
  bases of assets and liabilities using the enacted marginal income tax
  rate in effect for the year in which the differences are expected to
  reverse. Deferred income tax expense or credits are based on the changes
  in the deferred income tax assets or liabilities from period to period.
  The components of deferred tax liabilities and assets at December 31,
  2000 and 1999 are as follows:


                                     2000            1999
    Net operating loss carryforward  $ 147,450,2     $ 140,504,32
    Valuation allowance                45              5
                                       (147,450,       (140,504,3
                                       245)            25)
                                                       -

  The Company had available approximately $370,198,959 and $352,722,000 of
  unused federal and state operating loss carry forwards, respectively at
  December 31, 2000 and 1999, that may be applied against future taxable
  income.  These net operating loss carry forwards expire for federal
  purposes from 2010 to 2020 and will expire for state purposes from 2001
  to 2005.  There can be no assurance that the Company will realize the
  benefit of the net operating loss carry forwards.

  SFAS No. 109 requires a valuation allowance to be recorded when it is
  more likely than not that some or all of the deferred tax assets will
  not be realized.  At December 31, 2000 and 1999, valuations for 100% of
  the net deferred tax assets were recorded due to uncertainties as to the
  amount of taxable income that will be generated in future years.  No
  income tax benefit has been recorded for all periods presented because
  of the valuation allowance.




6.   INCOME TAXES (Continued)

     Due  to  the ?change in ownership? provisions in the Internal  Revenue
     Code Section 382, the availability of the Company?s net operating loss
     carry  forwards may be subject to an annual limitation against taxable
     income in future periods, which could substantially limit the eventual
     utilization of these net operating loss carry forwards.

7.   RELATED PARTY TRANSACTIONS

     A.   Stock Issuances

          During  the year ended December 31, 1999, the Company  issued  or
          assigned restricted common stock to certain domestic and  foreign
          individuals  and companies (assignees).  Z3 exercises significant
          control  over  these  assignees, and they are considered  related
          parties  for purposes of the restricted common stock assigned  to
          them.    As of December 31, 2000 and December 31, 1999, the total
          shares of restricted common   stock issued or assigned to  Z3  or
          its assignees were 0 and 32,000,000, respectively.

     B.   Management Agreement and Issuance of Stock

          Z3  Capital Corporation (Z3) entered into a consulting  agreement
          with  the  Company  on  September 30,  1994.   The  term  of  the
          agreement is ongoing.  Pursuant to the agreement, Z3 will consult
          with  the  Board of Directors of the Company and its officers  or
          advisors  on  matters concerning operational and fiscal  policies
          and the Company?s general business plan.  In addition, on January
          1,  2000,  the  Company  entered into  an  additional  consulting
          agreement with Z3, in which Z3 is to develop
          a  Web  site  for  marketing purposes.  The contracts  calls  for
          monthly  payments of $650,000 to be applied against the Company?s
          note  receivable  from  Z3.  The term of  the  contract  is  from
          January  1, 1999 through June 30, 2000.  As of December 31,  2000
          and   1999  $  7,800,000  had  been  applied  against  the  notes
          receivable  and accrued interest from Z3.  Z3 provided additional
          support  services during 2000 in the amount of $51,229 that  were
          unpaid and accrued for as of December 31, 2000.







7.   RELATED PARTY TRANSACTIONS (Continued)

     B.   Management Agreement and Issuance of Stock (Continued)

          On  January  29,  1999, the Company issued 40,000,000  shares  of
          restricted common stock in exchange for $80,000,000 of consulting
          services  rendered  by  Z3  and for a  $40,000,000  6%  note  due
          December  29,  2002.  On  January 22, 1998,  the  Company  issued
          7,550,000  shares  of  restricted common stock  in  exchange  for
          services rendered by Z3 and for a $7,500,000 6% note due December
          21,  2001.  Total interest income accrued on these  notes  during
          2000  and  1999  was  $1,392,907 and $82,863,  respectively.   Z3
          subsequently  assigned  its rights to  these  shares  to  certain
          related domestic and foreign individuals and corporations.













                        (left intentionally blank)














7.   RELATED PARTY TRANSACTIONS (Continued)

     B.   Management Agreement and Issuance of Stock (Continued)

     The  following  table  summarizes  the  restricted  common  stock   in
     consideration of notes issued by Z3:
                                                        1999
                                      2000

     20,000,000 shares of restricted
     common stock    issued in
     consideration of a 6% note       $-             $-
     issued     October 25, 1995,
     due December 1, 1999

     31,072,450 shares of restricted
     common stock                      -              1,029,648
        issued in consideration of a
     6% note issued
        October 25, 1995, due
     December 1, 1999,                 -              -
        which is past due as of
     December 31, 1999

     5,573,270 shares of restricted    -              493,304
     common stock
        issued in consideration of a
     6% note issued
        May 1, 1996, due May 1, 1999
                                       4,668,471      6,938,446
     20,000,000 shares of restricted
     common stock     issued in
     consideration of a 6% note
     issued
        June 21, 1996, due May 21,     39,083,67      40,951,86
     2001                              9              1

     7,550,000 shares of restricted
     common stock
        issued in consideration of
     services rendered
        and 6% note issued January
     22, 1998, due
        December 21, 2001

     40,000,000 shares of restricted
     common stock
        issued in consideration of
     services rendered
        and a 6% note issued January
     29, 1999, due
        December 29, 2002

     Total notes receivable -          43,852,15      49,413,25
     related party                     0              9
     Less: valuation allowance         (39,919,5      (48,815,2
                                       00)            59)
                                      $3,832,650     $1,598,000


7.   RELATED PARTY TRANSACTIONS (Continued)

     B.   Management Agreement and Issuance of Stock (Continued)

          A  valuation allowance equal to approximately   91 % and  97%  of
          the  carrying  value  of the Z3 receivable was  recorded  by  the
          Company  at December 31, 2000 and 1999, respectively,  since  the
          future  collection  of this receivable, based  on  the  uncertain
          financial condition of Z3, is in doubt.

          Pursuant to the consulting agreement, the company has recorded  $
          7,800,000             and $87,800,000 in compensation related  to
          the  services performed by Z3 during the years ended December 31,
          2000 and 1999, respectively.

     C.   Payments to Officers

          The Company employs certain individuals related to Z3 as officers
          of  the  Company.  They  hold  the  positions  of  President  and
          Treasurer.  Total compensation paid to those individuals was $  0
          in 2000 and $39,000,000 in 1999.

     D.        Related Party Contracts

          On  July 11, 2000, the Company issued 2,750,000 restricted shares
          of  common stock to World Wide Shortages, Inc., a related  party,
          in  conjunction  with an agreement to provide  financing  in  the
          amount  of  $1,000,000  to  be paid in  monthly  installments  of
          $50,000,  commencing in May of 2001.  The shares of common  stock
          were valued $1,375,000.














8.   COMMITMENTS AND CONTINGENCIES

     A.   Legal Matters

          On  May 9, 2000, the Company received a final judgment against it
          as  a  result of litigation initiated by the State of New  Jersey
          against International Brands and several other defendants.  As  a
          result,  the  Company is enjoined from selling any of  its  stock
          within  the State of New Jersey.  In addition, The Company  shall
          send  a  notice  to all New Jersey residents who purchased  stock
          allowing  them a right of rescission.  The Company,  Z3  and  its
          chief  executive  are  liable to the  State  of  New  Jersey  for
          $7,770,000  in  civil monetary penalties.  This amount  has  been
          accrued  on the Company?s books since December 31, 1996, as  part
          of  accrued expenses since the source of this payment shall  come
          from  the  Company.   The  Company is  currently  appealing  this
          judgment, however the success of this appeal is in doubt.

          The  Securities and Exchange Commission ("Commission")  announced
          that  in  a  decision dated February 21, 2000, the United  States
          District  Court for the Southern District of New  York  has  held
          that  President Steven Zubkis violated the antifraud  provisions,
          as well as other provisions, of the federal securities laws.  Mr.
          Zubkis was permanently enjoined from further violations of  these
          provisions   of  the  federal  securities  laws  and  permanently
          prohibited him from serving as an officer or director of a public
          company such pursuant to Section 20(e) of the Securities Act  and
          Section  21(d)(2) of the Exchange Act.  Mr. Zubkis  is  currently
          appealing this judgment.

     B.   Operating Leases

          The  Company leases certain corporate office and warehouse space.
          This  lease  expired on June 15, 2000.  The Company  leases  this
          space  on  a  month-to-month basis. The  Company  has  no  future
          minimum  lease  payments as of December  31,  2000.   Total  rent
          expense  for  the  years ended December 31,  2000  and  1999  was
          $28,823 and $39,378, respectively.








9.   SEGMENT AND GEOGRAPHIC INFORMATION

     The  Company has adopted SFAS No. 131, ?Disclosures About Segments  Of
     An  Enterprise  And  Related Information?, in the  fiscal  year  ended
     December  31, 2000.  SFAS No. 131 establishes standards for  reporting
     information   regarding  operating  segments   in   annual   financial
     statements and requires selected information for those segments to  be
     presented  in interim financial reports issued to stockholders.   SFAS
     No.  131  also  establishes  standards for related  disclosures  about
     products  and  services and geographic areas.  Operating segments  are
     identified  as  components  of  an  enterprise  about  which  separate
     discrete  financial  information is available for  evaluation  by  the
     chief  operating  or  decision  maker, or  decision-making  group,  in
     deciding  how  to  allocate  resources and  assess  performance.   The
     Company?s  chief decision maker, as defined under SFAS No. 131,  is  a
     combination  of  the Chief Executive Officer and the  Chief  Financial
     Officer.   To date, the Company has viewed its operations and  manages
     its  business as principally one segment, Internet sales.   Associated
     services  are not significant.  As a result, the financial information
     disclosed  herein represents all of the material financial information
     related to the Company?s principal operating segment.

10.  SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

  In addition to cash provided or used for operations, investing, and
  financing, the Company had the following non-cash investing and
  financing activities:

     A.   For the Year Ended December 31, 2000

          1.   The Company issued 77,000 shares of restricted common stock in
            settlement of
            litigation, having a fair market value of $245,179.

          2.The  Company  issued  20,895,053 shares  of  restricted  common
            stock  for advertising services having a fair market  value  of
            $16,833,738.

          3.The  Company  issued    1,195,000 shares of  restricted  common
            stock  for  executive  compensation with a  fair  market  value
            $394,975.

          4.The  Company issued 5,053,958 shares of restricted common stock
            for various services having a fair market value of $2,015,962.

          5.   Net adjustments to notes receivable consisted of $2,234,650).

10.  SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION (Continued)

     11.  B.   For the Year Ended December 31, 1999

          1.The  Company  issued  40,000,000 shares  of  restricted  common
            stock  in  exchange  for  a  $40,000,000  note  receivable  and
            $80,000,000  in consulting services from Z3 Capital Corporation
            (Note 6).

          2.The Company issued 70,000 shares of restricted common stock  in
            settlement  of  a  lawsuit,  having  a  fair  market  value  of
            $347,500.

          3.The  Company issued 4,108,410 shares of restricted common stock
            in  consideration  for various services having  a  fair  market
            value of $13,406,687.

          4.The   Company  issued  its  President  13,000,000   shares   of
            restricted  common stock as compensation, having a fair  market
            value of $39,000,000.

          5.   Net adjustments to notes receivable consisted of $7,623,947.










ITEM 9.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINACIAL DISCLOSURES
None.

PART 111.

ITEM 10.     DIRECTORS AND EXECUTIVE OFFICERS
On March 20th, 2000, Steven Zubkis resigned as C.E.O. of International
Brands. On April 5th, 2000, the Board appointed Dennis Hayes as C.E.O.
In August 2000, Dennis Hayes resigned as C.E.O.  At that time, the Board
reappointed Steven Zubkis as C.E.O. Steven Zubkis was appointed Director in
August 2000.  Mr. Zubkis received no compensation for his position as
Director.


Kellie Fitzgerald, Treasurer, acted as President until May 2000.  At that
time, the Board reinstated Steven Zubkis, President.  The sole Director for
the period January 1, 2000 to December 31, 2000 included Kellie Fitzgerald,
who also acted as Treasurer of the Company during that period.

Joseph Sterle was a Director for the period January through July 2000.  He
resigned in July 2000.  Mr. Sterle received no compensation.



NOMINATION OF DIRECTORS
The Board of Directors acts as the nominating committee for selecting the
Board's nominees for election as directors. Directors of the Company are
elected annually to serve until the next annual meeting of shareholders or
until their successors are duly elected.
ITEM 11.  EXECUTIVE COMPENSATION
The following discussion sets forth information about the executive
officers of the Company who are not directors.
Steven Zubkis, President and CEO.  Mr. Zubkis received securities as
compensation for his services to the Company as President from 1996 to
1999, totaling 13,000,000 common shares restricted under Rule 144 for one
year valued at $39,000,000.  These shares were released from restriction in
January of 2000.
Former CEO and President, Dennis Hayes was compensated $15,000 cash and
common equity securities restricted under Rule 144 totaling 195,000 shares
valued at $114,925.  These shares begin to release from restriction between
April to September of 2001.
Treasurer, Kellie Fitzgerald was compensated in the form of common equity
securities subject to Rule 144.  The total securities issued to Ms.
Fitzgerald totaled 1,000,000 common shares valued at $280,000.  These
shares to be released from restriction between July to December of 2001.
ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
The following table sets forth information as of December 31, 2000,
regarding the beneficial ownership of shares of Common Stock of the Company
by each director and executive officer of the Company, by all directors and
executive officers of the Company as a group, and by each shareholder known
by the Company to own beneficially more than five percent (5%) of the
outstanding shares of the Company's Common Stock. Unless otherwise noted,
each person or group identified possesses sole voting and investment power
with respect to such shares.
                                         Amount of Common       Percent of
                                          Stock             Common Stock
                                       Beneficially        Beneficially
                                         Owned (1) Owned(2)

Name              Position

Steven Zubkis       President               14,556,560          15%

(1)    Based upon 98,299,758 outstanding shares of common stock.
(2)    Assumes exercise of warrants, options or other rights to purchase
  securities held by the named shareholder exercisable within six months
  of the date hereof.
(3)    Does not take into account the dilution as the result of the
  conversion of Preferred Shares to Common Shares.


ITEM 13.  Certain Relationships and Related Transactions

During  the  years  ended December 31, 1999,  the  Company  issued  or
assigned  restricted  common  stock to certain  domestic  and  foreign
individuals  and  companies (assignees).  Z  3  exercises  significant
control  over these assignees, and they are considered related parties
for purposes of the restricted common stock assigned to them.   As  of
December  31,  2000  and  December  31,  1999,  the  total  shares  of
restricted  common   stock issued or assigned to Z 3 or its  assignees
were   and 32,000,000, respectively.

Z 3 Capital Corporation (Z 3) entered into a consulting agreement with the
Company on September 30, 1994.  The term of the agreement is ongoing.
Pursuant to the agreement, Z 3 will consult with the Board of Directors of
the Company and its officers or advisors on matters concerning operational
and fiscal policies and the Company?s general business plan.  In addition,
on January 1, 2000, the Company entered into an additional consulting
agreement with Z 3, in which Z 3 is to develop
a Web site for marketing purposes.  The contracts calls for monthly
payments of $650,000 to be applied against the Company?s note receivable
from Z 3.  The term of the contract is from January 1, 2000 through June
30, 2000.  As of December 31, 2000, $7,800,000 has been applied against the
note receivable and accrued interest from Z 3.
On   January  29,  2000,  the  Company  issued  40,000,000  shares  of
restricted  common  stock  in exchange for $80,000,000  of  consulting
services  rendered by Z 3 and for a $40,000,000 6% note  due  December
29, 2002. On January 22, 1999, the Company issued 7,550,000 shares  of
restricted common stock in exchange for services rendered by Z  3  and
for  a $7,500,000 6% note due December 21, 2001. Total interest income
accrued  on  these  notes  during 2000 and 1999  was  $  and  $82,863,
respectively.  Z 3 subsequently assigned its rights to these shares to
certain  related domestic and foreign individuals and corporations.
A  valuation  allowance equal to approximately  91%  and  97%  of  the
carrying  value  of the Z3 receivable was recorded by the  Company  at
December  31, 2000 and 1999, respectively, since the future collection
of  this receivable, based on the uncertain financial condition of Z3,
is in doubt.
Pursuant  to  the  consulting agreement, the company  has  recorded  $
7,800,000  and  $87,800,000 in compensation related  to  the  services
performed  by Z 3 during the years ended December 31, 2000  and  1999,
respectively.

The Company employs certain individuals related to Z 3 as officers of the
Company. They hold the positions of President and Treasurer.  Total
compensation paid to those individuals was $39,000,000 (Note 11) in 2000
and $71,352 in 1999.
Alumni Motorsports was an acting Director for the period.  Alumni
Motorsports was not compensated for services as Director.  Alumni
Motorsports was compensated in the form of common equity securities subject
to Rule 144 totaling 6,578,000 shares valued at $3,320,200 for promotional
and advertising services rendered.  These shares are to be released from
restriction during May of 2001.


PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-
K......................................

None








SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Current Report on Form 10-KSB to be
signed
on its behalf by the undersigned hereunto duly authorized.

INTERNATIONAL BRANDS, INC.
  By/s/ Steven  (Vladislav) Zubkis
  Its President, CEO and Chairman Of the Board