SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                  FORM 10-KSB

[X]  ANNUAL REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

For the fiscal year ended 2001

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1943

For the transition period from___________________ to __________________________

                         Commission file number: 0-09358

                      ONE TOUCH TOTAL COMMUNICATIONS, INC.
                (Name of small business issuer in its charter)

Nevada                                                     91-1933601
(State or other jurisdiction of                       (I.R.S Employer
incorporation or organization)                     Identification No.)

1636 Stadium View, Anaheim, California                        92806
(Address of principal executive offices)                    (Zip Code)

Issuer's telephone number: (714)-456-0874

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

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

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

State issuer's revenues for its most recent fiscal year:  $2,529,652.00

     State the aggregate market value of the voting and non-voting
common equity held by non-affiliates computed by reference to the
price at which the common equity was sold, or the average bid and
asked price of such common equity, as of a specified date within the
past 60 days: As of March 28, 2002, the aggregate market value of
shares held by non-affiliates (based on the close price on that date
..05) was $481,572.85

     State the number of shares outstanding of each of the issuer's
classes of common equity, as of the last practicable date: 22,113,399
as of March 28, 2002

This form 10KSB contains forward-looking statements within the meaning
of the federal securities laws. These forward-looking statements are
necessarily based on certain assumptions and are subject to
significant risks and uncertainties. These forward-looking statements
are based on management's expectations as of the date hereof, and the
Company does not undertake any responsibility to update any of these
statements in the future. Actual future performance and results could
differ from that contained in or suggested by these forward-looking
statements as a result of factors set forth in this Form 10KSB
(including those sections hereof incorporated by reference from other
filings with the Securities and Exchange Commission), in particular as
set forth in "Business Risks" under Item 1 and set forth in the
"Management's Discussion and Analysis" under Item 6.

ITEM 1.  DESCRIPTION OF BUSINESS

One Touch was incorporated in the State of Nevada in May 1986 under
the name of Alternate Fuel, Inc. In June 1989, the name of Alternate
Fuel was changed to Fertility Advancements, Inc. In December 1990 the
name of Fertility Advancements was changed to Eubix Technologies, Inc.
In May 1999 the name Eubix Technologies was changed to NetTel, Inc.

In August 1999, One Touch consummated an agreement to acquire all of
the outstanding capital stock of California Telephone Company, Inc., a
Nevada corporation founded in 1997 by Mr. Smith, in exchange for
10,914,659 shares of One Touch's common stock. Prior to this
transaction, NetTel, Inc. was a non- operating shell company with no
operations, assets, liabilities, and 5,078,740 shares of common stock
issued and outstanding. California Telephone Company, Inc. was an
operational privately held company formed to acquire Communications
Plus, a California Partnership; prior to this acquisition process,
California Telephone was an inactive company. Subsequently, the name
NetTel, Inc. was changed to One Touch Total Communications, Inc. In
October 1998, California Telephone Company, Inc. acquired
Communications Plus for $950,000 plus inventory of approximately
$250,000 to be carried on consignment. In consideration, California
Telephone paid $350,000 in cash (out of proceeds from a Rule 504
offering conducted between February and August 1998) and financed
$600,000 with a note payable at 8% interest annually. (A significant
portion of the amount due on the note was forgiven). In October 1999,
California Telephone having acquired Communications Plus merged into
and changed its name to One Touch Total Communications, Inc.

Description of Business.

One Touch, doing business as Communications Plus since October 1998,
has as its principal business the purchase of new and used telephone
equipment, the refurbishment of used phone equipment, and the retail
sale of new, used, and refurbished phone equipment. One Touch also
conducts business on the internet through its website
www.link4phones.com. This site offers to the small and medium sized
business executive looking to purchase a Business Telephone System.
The potential customer can view numerous pre configured business
systems or simply review the online catalog for individual items.

Testing and Refurbishing.

One Touch has a testing and refurbishing facility in house whereby
older, out of service equipment is re-conditioned and sold as
refurbished. Refurbishing consists of cleaning all working parts
inside and out, addressing all cosmetic issues (some cases will be
replaced) and repackaging in boxes. Not all equipment obtained by One
Touch is refurbished for various reasons: defective, damaged,
discolored, etc.; in that case equipment will be resold to other
dealers at a discounted price. The testing and refurbishing facility
employs two full time refurbishing technicians and two full time
testing technicians. Used telephone equipment is reconditioned and
sold as refurbished to small and midsize businesses, telecom brokers
and Telecom interconnects.

The warehouse facility enables One Touch Total Communications to
inventory new and refurbished telephones, telephone switches, and
telephone software: such as voice mail and telephony. The refurbishing
and testing facility is 1,000 sq. feet in size and the warehouse
itself is 8,400 sq. feet. The refurbishing and testing center has 5
workstations.

Refurbishing consists of cleaning all working parts inside and out and
polishing of telephone handsets. The testing of refurbished equipment
involves testing the circuitry of the phones to insure the equipment
is working properly prior to sale. Testing of telephone equipment is
accomplished by connecting telephone equipment to our test facility
workstations.

One Touch has Lucent and Northern Telecom test systems wall mounted
and completely functional to accomplish the testing of the equipment.
By having a testing and refurbishing facility, One Touch can offer the
small to midsize businesses the choice of refurbished telephones at a
price savings of 30% less than new phone equipment.

In this regard, One Touch has expanded its testing facility the past
two years to provide better quality control; expenses for equipment in
connection with this expansion have been approximately $20,000. The
result of this has been a decrease in the returns for defective
equipment; this has enabled One Touch to offer a full 90-day warranty
on all refurbished and reconditioned equipment.

General.

One Touch is not dependent on one or a few major customers. In
addition, One Touch does not have any patents, trademarks, licenses,
franchises, concessions, royalty agreements or labor contracts. Also,
there is no need for government approval of the principal products and
services offered by the company.

Principal Market.

One Touch Total Communications' client base is national and it's
business market is the small to medium sized business, interconnects
who are companies that install telephone systems, but do not inventory
the phone equipment, thus they must purchase the equipment they need
to install and other telecom brokers in similar business. One Touch
has no geographical limitations, because of it's national advertising
in various trade magazines such as The Preferred Supplier, membership
on Satlink, a satellite based membership program for Telecom brokers
nationwide and One Touch's website, www.link4phones.com.

Sales and Marketing.

One Touch employs three full time in-house sales representatives who
market telecom hardware and software to both new accounts and
established customers. The sales call is done via telephone. Upon
completion of the sale, the accounting department invoices the
customer and the equipment is shipped via Federal Express or UPS.
Payment for the phone equipment is either prepaid prior to shipment;
C.O.D. credit card or net terms are extended only after management has
approved credit.

Telephone Equipment Sources.

One Touch's source for new telecommunications equipment is through
Satlink, which is a private satellite link for telecommunications
equipment dealers. One Touch will post on Satlink the equipment they
are looking to buy. In addition, national trade publications that One
Touch subscribes to provide sources to buy telecommunications
equipment.  One Touch is not dependent upon one or two companies to
purchase telecommunications equipment. One Touch uses Telquest,
Alliance Telecom and A-1 Teletronics, among others, to purchase new
equipment.

One Touch's source for equipment that it refurbishes is through  e-
commerce sites, auctions, and local network satlink (on-line system of
national brokers, current customer base of interconnects and
distributors, yellow pages, etc.).

One Touch offers a full line of products from manufacturers with a
particular emphasis on Northern Telecom (Nortel) and AT&T (Lucent).
Business products and services offered include complete telephone and
voice mail systems; computer-networking T1/CSU's as well as voice/data
wire and cable; all products are offered both new and reconditioned.

Revenue Sources.

One Touch revenues are broken out by category, as follows:

Fiscal 1999: Total revenues of $3,569,907, $2,676,890 (75%) for
refurbished and out of service equipment, $809,297 (23%) as new or
unused equipment, and $83,720 (2%) as freight and labor income.

Fiscal 2000: Total revenues of $2,654,286, $1,863,425 (70%) for
refurbished or out of service equipment, $690,360 (26%) for new or
unused equipment, and $100,501 (4%) as freight and labor income.

Fiscal 2001: Total revenues of $2,529,652, $1,441,901 (57%) for
refurbished and out of service equipment, $961,267 for new or unused
equipment (38%), and $126,484 (5%) as freight and labor income.
Industry overview. The telecommunications equipment industry is
experiencing a significant slowdown in demand for new equipment. This
slowdown began last quarter 2000 and has continued  into last quarter
2001. The slowdown is attributed to a downturn in the U.S. economy and
a decline in capital spending for telecommunications equipment. One
Touch sees no reversal of this trend in the foreseeable future.

Employees

As of December 31, 2001, the Company had 9 employees and 1 consultant.

All employees are located at the Company's headquarters in Anaheim. None
of the Company's employees are subject to any collective bargaining
agreement.

Additional Information

We are subject to the informational requirements of the Securities
Exchange Act of 1934 (the "Exchange Act") and, in accordance
therewith, will file reports, proxy statements and other information
with the Commission. Such reports, proxy statements and other
information may be inspected at public reference facilities of the
Commission at Judiciary Plaza, 450 Fifth Street N.W., Washington D.C.
20549; Northwest Atrium Center, 500 West Madison Street, Suite 1400,
Chicago, Illinois 60661; 7 World Trade Center, New York, New York,
10048; and 5670 Wilshire Boulevard, Los Angeles, California 90036.
Copies of such material can be obtained from the Public Reference
Section of the Commission at Judiciary Plaza, 450 Fifth Street N.W.,
Washington, D.C. 20549 at prescribed rates. For further information,
the SEC maintains a website that contains reports, proxy and
information statements, and other information regarding reporting
companies at (http://www.sec.gov). We maintain a website at
www.link4phones.com.

                              BUSINESS RISKS

Lack of Acceptance and Effectiveness of Internet Electronic Commerce
May Affect Ability of One Touch to Market Its Products.

One Touch's success in marketing its products on-line, as well as
through other mediums will be dependent on consumer acceptance of e-
retailing and an increase in the use of the Internet for e-commerce.
If the markets for e-commerce do not develop or develop more slowly
than One Touch expects, its e- commerce business may be harmed. If
Internet usage does not grow, One Touch may not be able to realize
revenues in 2001 from Internet advertising and sponsorships, which
also may harm both One Touch's retail and e-commerce businesses.
Internet use by consumers is in an early stage of development, and
market acceptance of the Internet as a medium for content, advertising
and e-commerce is uncertain. A number of factors may inhibit the
growth of Internet usage, including inadequate network infrastructure,
security concerns, inconsistent quality of service, and limited
availability of cost-effective, high-speed access. If these or any
other factors cause use of the Internet to slow or decline, our
results of operations could be adversely affected.

Unreliability of Internet Infrastructure May Affect the Ability of One
Touch to Market Its Products.

If the Internet continues to experience increased numbers of users,
frequency of use or increased bandwidth requirements, the Internet
infrastructure may not be able to support these increased demands or
perform reliably. The Internet has experienced a variety of outages
and other delays as a result of damage to portions of its
infrastructure, and could face additional outages and delays in the
future. These outages and delays could reduce the level of Internet
usage and traffic. In addition, the Internet could lose its viability
due to delays in the development or adoption of new standards and
protocols to handle increased levels of activity. If the Internet
infrastructure is not adequately developed or maintained, use of One
Touch website may be reduced. Even if the Internet infrastructure is
adequately developed, and maintained, One Touch may incur substantial
expenditures in order to adapt its services and products to changing
Internet technologies. Such additional expenses could severely harm
One Touch's financial results.

Transactional Security Concerns May Affect the Ability of One Touch to
Market Its Products.

A significant barrier to Internet e-commerce has been the problems
encountered in the secure transmission of confidential information
over public networks. Any breach in security could cause interruptions
and have an adverse effect on One Touch's business.

Governmental Regulation of Communications Equipment and the Internet
May Affect the Ability of One Touch to Sell Its Products.

The equipment sold by One Touch must meet standards as set forth by
the U.S. Federal Communications Commission. If new or additional
regulations are enacted, then they could have an adverse affect on the
business of One Touch. Until such regulations are proposed, One Touch
is unable to predict the nature of any such affect.

There are currently few laws that specifically regulate communications
or commerce on the Internet. Laws and regulations may be adopted in
the future, however, that address issues including user privacy,
pricing, taxation and the characteristics and quality of products and
services sold over the Internet. Possible future consumer legislation,
regulations and actions could cause additional expense, capital
expenditures, restrictions and delays in the activities undertaken in
connection with the party planning business, the extent of which
cannot be predicted. The exact affect of such legislation cannot be
predicted until it is in final form.

Competition in Selling Communications Equipment May Affect the Ability
to Retain and Hold Customers.

One Touch faces significant competition from other companies selling
communications equipment, including those selling refurbished
equipment. Although One Touch believes that the quality of its
products, as well as its customer service and support set it apart
from other companies, other firms in this field are much larger and
better capitalized. As a result, many of One Touch's present and
potential competitors are likely to enjoy substantial competitive
advantages, including more fully- developed e-commerce opportunities,
larger technical and production staffs, and substantially greater
financial, marketing, technical and other resources. Such competition
could result in reduced margins or loss of market share, any of which
could harm the business of One Touch. Competition is likely to
increase significantly as new companies enter the market and current
competitors expand their services. If One Touch does not compete
effectively or if it experiences any pricing pressures, reduced
margins or loss of market share resulting from increased competition,
One Touch's business could be adversely affected.

Demand for telecommunication products and services has been adversely
affected by a downturn in the United States economy as well as changes
in the global economy.

Demand for our products has been adversely affected by a downturn
in the United States economy as well as changes in the global economy.
We see no foreseeable change in this trend and believe our business
will continue to be adversely affected.

There is a limited source of used telecommunications equipment which
may substantially impact our business.

A large portion of our business is based upon our ability to refurbish
and sell used telecommunications equipment. There is a limited source
for such equipment however. If we are not able to obtain the proper
quantity of such used equipment, our business will be adversely affected.

Control by Officers and Directors Over Affairs of One Touch May
Override Wishes of Other Stockholders.

The Company's officers and directors beneficially own approximately
37% of the outstanding shares of One Touch's common stock. As a
result, such persons, acting together, have the ability to exercise
significant influence over all matters requiring stockholder approval.
Accordingly, it could be difficult for the investors hereunder to
effectuate control over the affairs of One Touch. Therefore, it should
be assumed that the officers, directors, and principal common
shareholders who control these voting rights will be able, by virtue
of their stock holdings, to control the affairs and policies of One Touch.

Loss of Any of Current Management Could Have Adverse Impact on
Business and Prospects for Company.

One Touch's success is dependent upon the hiring of key administrative
personnel. None of One Touch's officers, directors, and key employees,
has an employment agreement with One Touch; therefore, there can be no
assurance that these personnel will remain employed by One Touch.
Should any of these individuals cease to be affiliated with One Touch
for any reason before qualified replacements could be found, there
could be material adverse effects on One Touch's business and
prospects. As experience has shown it is extremely important to
maintain a strong, balanced sales force as well to help support the
growth of the One Touch. Any personnel loses in the sales department
would have a negative effect.

In addition, all decisions with respect to the management of One Touch
will be made exclusively by the officers and directors of One Touch.
Investors will only have rights associated with stockholders to make
decisions which effect One Touch. The success of One Touch, to a large
extent, will depend on the quality of the directors and officers of
One Touch. Accordingly, no person should invest in the shares unless
he is willing to entrust all aspects of the management of One Touch to
the officers and directors.

Limitations on Liability, and Indemnification, of Directors and
Officers May Result in Expenditures by Company.

The articles of incorporation of One Touch provide that the personal
liability of a director or officer of One Touch to One Touch or the
Shareholders for damages for breach of fiduciary duty as a director or
officer shall be limited to acts or omissions which involve
intentional misconduct, fraud or a knowing violation of law. In
addition, the articles and the bylaws of One Touch provide for
indemnification of officers and directors of One Touch. Also, the
Nevada Revised Statutes provide for permissive indemnification of
officers and directors and One Touch may provide indemnification under
such provisions. Any limitation on the liability of any director, or
indemnification of directors, officer, or employees, could result in
substantial expenditures being made by One Touch in covering any
liability of such persons or in indemnifying them.

Potential Conflicts of Interest May Affect Ability of Officers and
Directors to Make Decisions in the Best Interests of Company.

Some of the officers and directors have other interests to which they
devote time, either individually or through partnerships and
corporations in which they have an interest, hold an office, or serve
on boards of directors, and each will continue to do so
notwithstanding the fact that management time may be necessary to the
business of One Touch. As a result, conflicts of interest may exist
between One Touch and its officers and/or directors which may not be
susceptible to resolution.

In addition, conflicts of interest may arise in the area of corporate
opportunities which cannot be resolved through arm's length
negotiations. All of the potential conflicts of interest will be
resolved only through exercise by the directors of such judgment as is
consistent with their fiduciary duties to One Touch. It is the
intention of management, so as to minimize any potential conflicts of
interest, to present first to the board of directors of One Touch any
proposed investments for its evaluation.

No Cumulative Voting May Affect Ability of Some Shareholders to
Influence Management of Company.

Holders of the shares of common stock of One Touch are not entitled to
accumulate their votes for the election of directors or otherwise.
Accordingly, the holders of a majority of the shares present at a
meeting of shareholders will be able to elect all of the directors of
One Touch, and the minority shareholders will not be able to elect a
representative to One Touch's board of directors.

Sale of Shares Eligible For Future Sale Could Adversely Affect the
Market Price.

Most of the approximate 8,231,942 shares of common stock which are
currently held, directly or indirectly, by management have been issued
in reliance on the private placement exemption under the Securities
Act of 1933. Such shares will not be available for sale in the open
market without separate registration except in reliance upon Rule 144
under the Securities Act of 1933. In general, under Rule 144 a person,
or persons whose shares are aggregated, who has beneficially owned
shares acquired in a non-public transaction for at least one year,
including persons who may be deemed affiliates of One Touch, as
defined, would be entitled to sell within any three- month period a
number of shares that does not exceed the greater of 1% of the then
outstanding shares of common stock, or the average weekly reported
trading volume during the four calendar weeks preceding such sale,
provided that current public information is then available. If a
substantial number of the shares owned by these shareholders were sold
under Rule 144 or a registered offering, the market price of the
common stock could be adversely affected.

Status as a Pseudo California Corporation Could Adversely Affect the
Operation of One Touch.

Section 2115 of the California General Corporation Law subjects
foreign corporations doing business in California to various
substantive provisions of the California General Corporation Law in
the event that the average of its property, payroll and sales is more
than 50% in California and more than one-half of its outstanding
voting securities are held of record by persons residing in the State
of California. Currently, One Touch does meet the requirement of a
pseudo California corporation. Some of the substantive provisions of
California which apply to the company include laws relating to annual
election of directors, removal of directors without cause, removal of
directors by court proceedings, indemnification of officers and
directors, directors standard of care and liability of directors for
unlawful distributions. In addition, Section 708 of the California
General Corporation Law which mandates that shareholders have the
right of cumulative voting at the election of directors applies to One
Touch.

ITEM 2.  DESCRIPTION OF PROPERTY

At its offices in Anaheim, California, One Touch owns approximately
$22,000 of miscellaneous office furniture and equipment, including
computers. On November 1st 2001 One Touch entered into a new five year
lease for 8400 sq ft of office and warehouse space  (at $0.80 per
square foot)

ITEM 3.  LEGAL PROCEEDINGS

The Company is not presently a party to any litigation, nor to the
knowledge of  management is any litigation threatened against the
Company, which would materially affect the Company.

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

No matter was submitted to a vote of security holders, through the
solicitation of proxies or otherwise, during the fourth quarter of our
fiscal year ended December 31, 2001.

ITEM 5.  MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

Our Common Stock is traded in the over-the-counter securities market
through the National Association of Securities Dealers Automated
Quotation Bulletin Board System, under the symbol "OTTC". The
following table sets forth the quarterly high and low bid prices for
our Common Stock as reported by the Pink Sheets, LLC. The quotations
reflect inter-dealer prices, without retail mark-up, markdown or
commission, and may not necessarily represent actual transactions.

                   Closing Ask           Closing Bid
Date              High     Low          High     Low

2001

Jan 2 thru
Mar 30             .18       .07         .11      .05

Apr 2 thru
June 29            .22       .08         .19      .06

July 2 thru
Sept 28           .105      .055         .09      .05

Oct 1 thru
Dec 31             .18       .05         .15      .03

As of December 31st 2001 we had approximately 398_stockholders of
record of the shares outstanding. We have never declared or paid
dividends on our Common Stock.

We intend to follow a policy of retaining earnings, if any, to finance
the growth of the business and do not anticipate paying any cash
dividends in the foreseeable future. The declaration and payment of
future dividends on the Common Stock will be the sole discretion of
the Board of Directors and will depend on our profitability and
financial condition, capital requirements, statutory and contractual
restrictions, future prospects and other factors deemed relevant.

Recent Sales of Unregistered Securities

The following unregistered securities were issued in the last quarter, 2001.

(1)  On November 5th, 2001, 4,000,000 shares were issued to John
     Simoncic , the Company's Treasurer for consulting services while a
     consultant valued at $240,000.

(2)  On November 5th, 2001, 3,000,000 shares were issued to Mark Tow
     for legal services. valued at $180,000.

(3)  On November 5th, 2001, 100,000 shares were issued to Paul
     Palant, the Company's Director, for services valued at $13,000.

(4)  On November 5th, 2001, 25,000 shares were issued to Tina Nicosia,
     an employee of the Company for services valued at $3,250.

(5)  In the fourth quarter, 2001, 250,000 shares of treasury stock
     was issued to Kevin Smuland for consulting services.

ITEM 6.  MANAGEMENTS DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

This report contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Actual results and events could
differ materially from those projected, anticipated, or implicit, in
the forward-looking statements as a result of the risk factors set
forth below and elsewhere in this report. With the exception of
historical matters, the matters discussed herein are forward looking
statements that involve risks and uncertainties.

The following discussion should be read in conjunction with the
financial statements of the Registrant and notes thereto contained
elsewhere in this report.

Results Of Operations.

     (a)  Revenues.  Revenues for the year ending December 31st, 2001,
was $2,529,652 a decrease of approximately 5% from revenues of
$2,654,286 in the year 2000.  Net loss for year ended 2001 was
$631,862 as compared with a net loss of $268,454 for the year ended 2000.

The decline in revenues for the year ended December 31, 2001 and the
increased loss were primarily due to the weakening U.S. economy and
continued slow demand for telecommunications equipment.  As of March
31, 2002, the Registrant sees no improvement in the demand for
telecommunications equipment and services in the near future.

     (b)  Cost of Revenues.  Cost of revenues decreased approximately
9% from $1,675,740 in 2000 to $1,519,858 for the year 2001.
Management believes this was due to a weakened market and due to a
number of cost cutting measures taken by management as it applied to
labor expenses.

     (c)  Selling, General and Administrative.  Selling, general and
administrative expenses increased approximately 31% from $1,260,040
in 2000 to $1,838,513 in  2001.  These increases are primarily due to
professional expenses incurred primarily related to accounting
and legal services as a result of the Registrant's Form SB-2
registration statement filed and amended with the Securities and
Exchange Commission during the second and third quarter of 2001.  The
Registrant believes professional fees incurred for the Form SB-2
registration statement 2001 are non-recurring in nature, exclusive of
the fees associated with the quarterly and annual reports required by
the SEC. In addition to the above, the issuance of stock for
consulting and legal purposes was significant in 2001. These issuance
were for initial legal and consulting services and are not expected to
be recurring in nature.

Liquidity and Capital Resources

     Comparison of year ended December 31, 2000 and fiscal
year ended December 31, 2001.

     As of December 31, 2001, the Registrant had a deficit working
capital of $68,461 compared to a surplus working capital of $147,814
at December 31, 2000.   The decrease in working capital was
substantially due to net losses incurred in the 2001.

     The Registrant has historically relied upon cash flow from
operations to provide for its capital requirements.  The Registrant
generated a cash flow surplus of $50,891 from its operating activities
in fiscal year ended December 31, 2001 compared with a cash flow
deficit of $73,442 for the fiscal year ended December 31, 2000.

     The Registrant's growth strategy for the 2002 and 2003 fiscal
years will be its continued effort to increase revenues from the sale
of new and refurbished equipment.  However, there will be challenges
ahead in light of the on-going and duration of weakness in the U.S.
economy.  The continued slowdown in demand for telecommunications
equipment shows no sign of bottoming and has been exasperated by the
tragic events of September 11, 2001.  The Registrant has initiated
cost cutting measures during the third quarter of 2001 that include
payroll reductions, lay-offs of three in-house technicians and the
elimination of medical and insurance benefits.  The Registrant
believes that cash generated from operations, together with cash on
hand  as of  December 31, 2001, may be sufficient to provide for its
capital requirements to sustain currently expected operations for at
least the next 12 months. There can be no assurance that current cash
flow will be sufficient, however, if telecommunications sales remain
weak.  The Registrant also intends to grow its revenues through
acquisition of other telecom companies which integrate into the
companies overall business plan.  The Registrant plans to accomplish
these acquisitions through issuance of its common stock.

     The Registrant is also exploring additional sources of financing
including new credit facilities and sale of common shares.  There can
be no assurance that the Registrant will be able to obtain any
additional financing requirements include, but are not limited to,
statements concerning anticipated trends in revenues and net income,
the date of introduction or completion of our products, projections
concerning operations and available cash flow. Our actual results
could differ materially from the results discussed in such forward-
looking statements. The following discussion of our financial
condition and results of operations should be read in conjunction with
our financial statements and the related notes thereto appearing
elsewhere herein.

ITEM 7.  FINANCIAL STATEMENTS

                        ONE TOUCH TOTAL COMMUNICATIONS, INC.

                                 FINANCIAL STATEMENTS

                                    DECEMBER 31, 2001

         (With Report of Independent Certified Public Accountants Thereon)

                                   TABLE OF CONTENTS


                                                                   PAGE NO.

Report of Independent Certified Public Accountants                       1

Financial Statements

     Balance Sheet                                                       2

     Statements of Operations                                            3

     Statement of Stockholders' Equity                                   4

     Statements of Cash Flows                                            5

     Notes to Financial Statements                                       6

               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

                             L. L. Bradford & Company, LLC
                      Certified Public Accountants & Consultants



To the Board of Directors and Stockholders
One Touch Total Communications, Inc.
Anaheim, California

We have audited the accompanying balance sheet of One Touch Total
Communications, Inc. as of December 31, 2001 and the related
statements of operations, stockholders' equity and cash flows for the
years ended December 31, 2001 and 2000.  These financial statements
are the responsibility of the Company's management.  Our
responsibility is to express an opinion on these financial statements
based on our audit.

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

In our opinion, the financial statements referred to above present
fairly, in all material respects, the financial position of One Touch
Total Communications, Inc. as of December 31, 2001 and the results of
its operations and its cash flows for the years ended December 31,
2001 and 2000 in conformity with accounting principles generally
accepted in the United States.



/s/ L. L. Bradford
L. L. Bradford & Company, LLC
February 8, 2002
Las Vegas, NV

                          ONE TOUCH TOTAL COMMUNICATIONS,INC.
                                    BALANCE SHEET
                                  DECEMBER 31, 2001

                                        ASSETS

Current assets
  Cash                                                             $   22,110
  Accounts receivable, net of allowance
   for doubtful accounts of $37,191                                    44,896
  Inventory                                                           245,723
     Total current assets                                             312,729

Fixed assets, net                                                      22,395

Other assets
  Deposits                                                              7,882
  Deferred tax asset                                                  472,429
  Intangible assets, net                                              536,607
     Total other assets                                             1,016,918

Total assets                                                      $ 1,352,042

                       LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities
  Accounts payable                                                $   184,987
  Accrued liabilities                                                  80,394
  Stock payable                                                       115,809
     Total current liabilities                                        381,190

Total liabilities                                                     381,190

Commitments and contingencies                                               -

Stockholders' equity
  Common stock ($0.001 par value, 200,000,000 shares
   authorized, 22,083,399 shares issued and 21,833,399
   outstanding)                                                        22,083
  Additional paid-in capital                                        2,043,678
  Treasury stock                                                         (250)
  Stock receivable from stockholder                                    (1,800)
  Accumulated deficit                                              (1,092,859)
     Total stockholders' equity                                       970,852

Total liabilities and stockholders' equity                        $ 1,352,042

           See Accompanying Notes to Consolidated Financial Statements

                      ONE TOUCH TOTAL COMMUNICATIONS, INC.
                           STATEMENTS OF OPERATIONS

                                                For the year ended December 31
                                                     2001             2000

Revenues                                        $  2,529,652      $  2,654,286

Costs of revenues                                  1,519,858         1,675,740

  Gross profit                                     1,009,794           978,546

Operating expenses
  Selling, general and administrative              1,838,513         1,260,040
  Depreciation and amortization                      121,749           124,275

     Total operating expenses                      1,960,262         1,384,315

Loss from operations                                (950,468)         (405,769)

Other expense
  Interest                                            (3,816)           (2,972)

     Total other expense                              (3,816)           (2,972)

Loss before provision for income taxes              (954,284)         (408,741)

Provision for income taxes benefit                   322,422           140,287

Net loss                                        $   (631,862)      $  (268,454)

Basic and diluted loss per common share                (0.04)            (0.02)

Basic and diluted weighted average common shares
 Outstanding                                      16,015,837        14,778,112

            See Accompanying Notes to Consolidated Financial Statements

                        ONE TOUCH TOTAL COMMUNICATIONS, INC.
                         STATEMENT OF STOCKHOLDERS' EQUITY



<TABLE>
<CAPTION>
<S>              <C>         <C><     <C>           <C>        <C>                <C>          <C>
                   Common Stock
                                      Additional                    Stock                         Total
                 Number of             Paid-In       Treasury   Receivable from   Accumulated  Stockholders
                   Shares    Amount    Capital        Stock       Stockholder       Deficit      Equity

Balance
December 31 1999
Restated         14,473,399 $ 14,473  $1,280,320     $      -   $         -       $  (192,543)  $1,102,250

Common stock
issued for
services, $0.29     100,000      100      28,513            -             -                 -      28,613

Common stock
issued as
signing bonus,
$0.35                50,000       50      17,450            -             -                 -      17,500

Common stock
issued for
services $0.45      200,000      200      90,420            -             -                 -      90,620

Common stock
issued for
services $0.20       75,000       75      14,925            -             -                 -      15,000

Net loss                  -        -           -            -             -          (268,454)   (268,454)

Balance
December 31 2000 14,898,399   14,898   1,431,628            -             -          (460,997)    985,529

Common stock
issued for
services $0.06    7,000,000    7,000     413,000            -             -                 -     420,000

Common stock
issued for
services $0.09      560,000      560      49,840            -             -                 -      50,400

Common stock
issued for
services $0.13      125,000      125      16,125            -             -                 -      16,250

Forgiveness of
debt by
stockholder               -        -      17,260            -             -                 -     17,260

Agreement of
stockholder to
return 2,800,000
shares related to
a Compromise and
Settlement Agreement      -        -       2,800            -        (2,800)               -          -

Return of 1,000,000
shares by
shareholder
related to a
Compromise and
Settlement Agreement      -        -           -       (1,000)        1,000                -          -

Cancellation
of treasury
stock              (500,000)    (500)          -          500             -                -          -

Treasury stock
issued for
services $0.45            -        -     113,025          250             -                -    113,275

Net loss                  -        -           -            -             -         (631,862)  (631,862)

Balance
December 31 2001 22,083,399   22,083   2,043,678         (250)       (1,800)      (1,092,859)   970,852
</TABLE>



                          ONE TOUCH TOTAL COMMUNICATIONS, INC.
                               STATEMENTS OF CASH FLOWS

                                                  For the year ended December 31
                                                     2001               2000

Cash flows from operating activities:
 Net loss                                         $  (631,862)       $(268,454)
 Adjustments to reconcile net loss to net cash
   provided (used) by operating activities:
  Depreciation and amortization                       121,749          124,275
  Common shares issued for services and other
   expenses                                           599,925          151,733
 Changes in operating assets and liabilities:
  (Increase) decrease in accounts receivable           84,943          (41,843)
  (Increase) decrease in inventory                     51,373           (3,516)
  (Increase) decrease in other assets                    (925)           2,148
  Increase in deferred tax asset                     (322,422)        (136,562)
  Increase in accounts payable                         47,200          109,805
  Increase in stock payable                           115,809                -
  Decrease in accrued liabilities                     (14,899)          (6,503)
  Decrease in deferred tax liability                        -           (4,525)

   Net cash provided (used) by operating
    Activities                                         50,891          (73,442)

Cash flows from investing activities:
 Purchase of fixed assets                                   -           (7,488)

     Net cash used by investing activities                  -           (7,488)

Cash flows from financing activities:
 Principal payments on notes payable - related
   party	                                          (30,809)               -

     Net cash used by financing activities            (30,809)               -

Net change in cash                                     20,082          (80,930)

Cash, beginning of period                               2,028           82,958

Cash, end of period                                    22,110            2,028

Supplemental disclosure of cash flow:
 Cash paid for interest                                 6,744               45
 Cash paid for income taxes                               800            1,935
Non-cash financing activities:
 Forgiveness of debt by stockholder                    17,260                -

        See Accompanying Notes to Consolidated Financial Statements

                          ONE TOUCH COMMUNICATIONS, INC.
                           NOTES TO FINANCIAL STATEMENTS

1.  BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business - One Touch Total Communications, Inc.'s (the "Company")
principal business consists of the purchase of new and used telephone
equipment ("Phone Equipment"), the refurbishment of used phone
equipment, and the retail sale and installation of new, used, and
refurbished phone equipment.  The Company also conducts business on
the Internet through its website www.link4phones.com.

History - One Touch Total Communications, Inc. was incorporated in
the State of Nevada in May 1986 under the name of Alternate Fuel,
Inc.  The Company underwent several name changes until May 1996, when
it changed its name to NetTel, Inc.

In August 1999, the Company consummated an agreement to acquire all
of the outstanding capital stock of California Telephone Company,
Inc., a Nevada Corporation, in exchange for 10,914,659 shares of the
Company's common stock ("CTC Transaction").  Prior to the CTC
Transaction, NetTel, Inc. was a non-operating shell company with no
operations, assets, liabilities; and 5,078,740 shares of common stock
issued and outstanding; and California Telephone Company, Inc. was an
operational company.  The CTC Transaction is considered to be a
capital transaction in substance, rather than a business combination.
Inasmuch, the CTC Transaction is equivalent to the issuance of stock
by an operational company (California Telephone Company, Inc.) for
the net monetary assets of a non-operational shell company (NetTel,
Inc.), accompanied by a recapitalization.  The accounting for the CTC
Transaction is identical to that resulting from a reverse
acquisition, except goodwill or other intangible assets will not be
recorded.  Accordingly, these financial statements are the historical
financial statements of California Telephone Company, Inc.

In October 1999, the Company changed its name to One Touch Total
Communications, Inc.

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

Inventory - Inventory is stated at the lower of cost or market.  Cost
is determined by using the average cost method.  Substantially all of
the inventory consists of finished goods held for sale.  The
Company's management monitors the inventory for excess and obsolete
items and makes necessary valuation adjustments when required.

Fixed assets - Fixed assets are stated at cost less accumulated
depreciation.  Depreciation is provided principally on the
straight-line method over the estimated useful lives of the
assets, which are generally 3 to 7 years.  The cost of repairs and
maintenance is charged to expense as incurred.  Expenditures for
property betterments and renewals are capitalized.  Upon sale or
other disposition of a depreciable asset, cost and accumulated
depreciation are removed from the accounts and any gain or loss is
reflected in other income (expense).

The Company periodically evaluates whether events and
circumstances have occurred that may warrant revision of the
estimated useful lives of fixed assets or whether the remaining
balance of fixed assets should be evaluated for possible
impairment.  The Company uses an estimate of the related
undiscounted cash flows over the remaining life of the fixed
assets in measuring their recoverability.

Intangible assets -Intangible assets consist of acquired customer and
vendor lists, licenses, and capitalized organization costs amortized
on a straight-line basis ranging from 5 to 8 years.  The Company
periodically evaluates whether changes have occurred that would
require revision of the remaining estimated useful life of the
assigned intangible assets or render them not recoverable.  If such
circumstances arise, the Company would use an estimate of the
undiscounted value of the expected future operating cash flows to
determine whether the intangible assets are recoverable.

Comprehensive income (loss) - The Company has no components of other
comprehensive income (loss).  Accordingly, net income (loss) equals
comprehensive income (loss) for all periods.

Earnings (loss) per common share - Basic earnings (loss) per share
excludes any dilutive effects of options, warrants and convertible
securities.  Basic earnings (loss) per share is computed using the
weighted-average number of outstanding common shares during the
applicable period.  Diluted earnings (loss) per share is computed
using the weighted average number of common and common stock
equivalent shares outstanding during the period.  Common stock
equivalent shares are excluded from the computation if their effect
is antidilutive.

Recognition of revenue - Revenues are recognized when the Company's
products are shipped.

Recognition of expenses - Expenses incurred from costs of revenues
and operating expenses are recorded in the period incurred.

Advertising costs - Advertising costs are charged to operations as
they are incurred.  Advertising expense incurred for the years ended
December 31, 2001 and 2000 were approximately $33,000 and $39,000,
respectively.

Stock-based compensation - The Company accounts for stock-based
employee compensation arrangements in accordance with provisions of
Accounting Principles Board ("APB") Opinion No. 25, "Accounting for
Stock Issued to Employees," and complies with the disclosure
provisions of Statements of Financial Accounting Standards (SFAS) No.
123, "Accounting for Stock-Based Compensation."  Under APB No. 25,
compensation expense is based on the difference, if any, on the date
of the grant, between the fair value of the Company's stock and the
exercise price.  The Company accounts for stock issued to non-
employees in accordance with the provisions of SFAS No. 123 and the
Emerging Issues Task Force ("EITF") Issue No. 96-18.

Income taxes - The Company accounts for its income taxes in
accordance with SFAS No. 109, which requires recognition of deferred
tax assets and liabilities for the future tax consequences
attributable to differences between the financial statement carrying
amounts of existing assets and liabilities and their respective tax
bases and tax credit carryforwards.  Deferred tax assets and
liabilities are measured using enacted tax rates expected to apply to
taxable income in the years in which those temporary differences are
expected to be recovered or settled.  The effect on deferred tax
assets and liabilities of a change in tax rates is recognized in
income in the period that includes the enactment date.

Impairment of long-lived assets to be disposed - The Company
continually monitors events and changes in circumstances that could
indicate carrying amounts of long-lived assets may not be
recoverable.  When such events or changes in circumstances are
present, the Company assesses the recoverability of long-lived assets
by determining whether the carrying value of such assets will be
recovered through undiscounted expected future cash flows.  If the
total of the future cash flows is less than the carrying amount of
those assets, the Company recognizes an impairment loss based on the
excess of the carrying amount over the fair value of the assets.
Assets to be disposed are reported at the lower of the carrying
amount or the fair value less costs to sell.

New accounting pronouncements

In July 2001, the Financial Accounting Standards Board issued
Statement of Financial Accounting Standards No. 141, Business
Combinations (SFAS 141), and Statement of Financial Accounting
Standards No. 142, Goodwill and Other Intangible Assets (SFAS 142).
They also issued Statement of Financial Accounting Standards No. 143,
Accounting for Obligations Associated with the Retirement of Long-
Lived Assets (SFAS 143), and Statement of Financial Accounting
Standards No. 144, Accounting for the Impairment or Disposal of Long-
Lived Assets (SFAS 144), in August and October 2001, respectively.

SFAS 141 requires all business combinations initiated after June 30,
2001 be accounted for under the purchase method. SFAS 141 supersedes
APB Opinion No. 16, Business Combinations, and Statement of Financial
Accounting Standards No. 38, Accounting for Preacquisition
Contingencies of Purchased Enterprises, and is effective for all
business combinations initiated after June 30, 2001.

SFAS 142 addresses the financial accounting and reporting for
acquired goodwill and other intangible assets. Under the new rules,
the Company is no longer required to amortize goodwill and other
intangible assets with indefinite lives, but will be subject to
periodic testing for impairment.  SFAS 142 supersedes APB Opinion No.
17, Intangible Assets. Effective January 2, 2002, the Company will
adopt SFAS 142 and is evaluating the effect that such adoption may
have on its results of operations and financial position. The Company
expects that the provisions of SFAS 142 will not have a material
impact on its results of operations and financial position upon adoption.

SFAS 143 establishes accounting standards for the recognition and
measurement of an asset retirement obligation and its associated
asset retirement cost. It also provides accounting guidance for legal
obligations associated with the retirement of tangible long-lived
assets. SFAS 143 is effective in fiscal years beginning after June
15, 2002, with early adoption permitted. Management has yet to
determine the impact that the adoption of SFAS No. 143 will have on
the Company's consolidated financial statements.

SFAS 144 establishes a single accounting model for the impairment or
disposal of long-lived assets, including discontinued operations.
SFAS 144 superseded Statement of Financial Accounting Standards No.
121, Accounting for the Impairment of Long-Lived Assets and for Long-
Lived Assets to Be Disposed Of (SFAS 121), and APB Opinion No. 30,
Reporting the Results of Operations-- Reporting the Effects of
Disposal of a Segment of a Business, and Extraordinary, Unusual and
Infrequently Occurring Events and Transactions. The provisions of
SFAS 144 are effective in fiscal years beginning after December 15,
2001, with early adoption permitted, and in general are to be applied
prospectively.  The Company plans to adopt SFAS 144 effective January
1, 2002 and does not expect that the adoption will have a material
impact on its results of operations and financial position.

2.  FIXED ASSETS

Fixed assets consist of the following as of December 31, 2001:

     Furniture and fixtures                  $   4,486
     Machinery and equipment                    42,660
                                                47,146
Less: accumulated depreciation                  24,751

                                             $  22,395

3.  INTANGIBLE ASSETS

Intangible assets consist of the following as of December 31, 2001:

     Vendor list                             $ 428,188
     Customer list                             428,188
     License                                    47,775
                                               904,151
Less: accumulated amortization                 367,544

                                             $ 536,607

4.  FAIR VALUES OF FINANCIAL INSTRUMENTS

The carrying amounts of cash, accounts receivable, stock receivable
from stockholder, inventory, accounts payable, and accrued
liabilities approximate fair value because of the short-term maturity
of these instruments.

5.  RELATED PARTY TRANSACTIONS

In May 1999, the Company entered into a consulting agreement with
MFSNet.com, which is owned and operated by a sibling of the president
and CEO of the Company.  The agreement is for networking and website
development related services and provides for payment of 100,000
shares of the Company's common stock for services performed.  These
shares were issued to MFSNet.com in March 2000 as a result of
services provided during this period.  The transaction has been
valued at $28,613 based on the value of the services rendered and has
been recorded as a consulting expense for the year ended December 31,
2000.

6.  COMPROMISE AND SETTLEMENT AGREEMENT

In July 2001, the Company entered into a Compromise and Settlement
Agreement (the "Agreement") with and between its President,
Secretary, and Treasurer.  The Agreement provides for, among other
things, the release and settlement for the following items: (1)
return of 2,800,000 shares of the Company's common stock from the
President; (2) issuance of 4,000,000 restricted shares of the
Company's common stock to an individual, now Company Treasurer; (3)
issuance of 3,000,000 restricted shares of the Company's common stock
to an attorney and stockholder of the Company for legal services
provided; and (4) acknowledgement of an obligation to a consultant
for 1,200,000 shares of the Company's common stock.  As of December
31, 2001, the Company President has returned a total of 1,000,000
shares which has been accounted for as treasury stock value at
$1,000, which the remaining unreturned portion of 1,800,000 shares
has been recorded as a Stock Receivable From Stockholder totaling
$1,800 at December 31, 2001.  The issuance of 4,000,000 and 3,000,000
shares to the Treasurer and Secretary, respectively, has been
recorded as an expense totaling $420,000 for the year ended December
31, 2001.  As of December 31, 2001, the Company increased its overall
obligation to the consultant from 1,000,000 to 1,200,000 as outlined
in the Agreement recording an expense for the additional shares
obligated of $90,620 for the year ended December 31, 2001.

7.  STOCKHOLDERS' EQUITY

Stock issuances - During 2000, the Company issued 100,000 shares of
its common stock to a consultant for services rendered.  The Company
recorded consulting expenses totaling $28,613 or $0.29 per share for
the year ended December 31, 2000.

During 2000, the Company issued 50,000 shares of its common stock to
an employee as a signing bonus.  The Company recorded consulting
expenses totaling $17,500 or $0.35 per share for the year ended
December 31, 2000.

During 2000, the Company issued 200,000 shares of its common stock to
a consultant for services rendered.  The Company recorded consulting
expenses totaling $90,620 or $0.45 per share for the year ended
December 31, 2000.

During 2000, the Company issued 75,000 shares of its common stock to
an attorney for legal services rendered.  The Company recorded
consulting expenses totaling $15,000 or $0.20 per share for the year
ended December 31, 2000.

During 2001, the Company issued 4,000,000 and 3,000,000 shares of its
common stock to the Treasurer and the Secretary of the Company as a
result of Compromise and Settlement Agreement as previously discussed
in Note 6.  The Company recorded expenses totaling $420,000 or $0.06
per share related to this transaction for the year ended December 31,
2001.

During 2001, the Company issued 560,000 shares of its common stock to
an attorney for legal services rendered.  The Company recorded
consulting expenses totaling $50,400 or $0.09 per share for the year
ended December 31, 2001.

During 2001, the Company issued 100,000 shares of its common stock to
a director for services rendered.  The Company recorded consulting
expenses totaling $13,000 or $0.13 per share for the year ended
December 31, 2001.

During 2001, the Company issued 25,000 shares of its common stock to
an employee for services rendered.  The Company recorded consulting
expenses totaling $3,250 or $0.13 per share for the year ended
December 31, 2001.

Treasury stock - During 2001, the Company acquired 1,000,000 shares
of its common stock from the President of Company as a result of the
Compromise and Settlement Agreement as previously discussed in Note
6.  The Company accounted for the transaction as treasury stock for a
total of $1,000 as of December 31, 2001.  Subsequently, the Company
reissued 250,000 shares from its treasury to a consultant for
services rendered and recorded consulting expenses of $113,275 for
the year ended December 31, 2001.  The Company retired 500,000 shares
from its treasury as of December 31, 2001.

Stock options - In October 1998, the President and Secretary of the
Company were granted options to purchase a total of 1,500,000 and
750,000 shares of the Company's common stock, respectively.  The
options to purchase 1,500,000 and 750,000 shares, respectively, vest
on January 1 and expire on December 31 of each year for three
consecutive years.  The exercise price of each option is $0.50, which
exceeded the fair value of the Company's common stock at the date of
grant.  Consequently, no expense was recognized in connection with
the issuance of these options.

The following table summarizes the Company's stock option activity:

                                            Number          Weighted
                                              Of             Average
                                            Shares        Exercise Price

Balance, December 31, 1999                  1,500,000     $   0.50
     Options granted and assumed                    -            -
     Options expired                          750,000         0.50
     Options canceled                               -            -
     Options exercised                              -            -

Balance, December 31, 2000                    750,000         0.50
     Options granted and assumed                    -            -
     Options expired                          750,000         0.50
     Options canceled                               -            -
     Options exercised                              -            -

Balance, December 31, 2001                          -     $      -

8.  STATED RETAINED EARNINGS

During 1999, the Company issued 120,000 shares of its common stock to
an attorney for legal services rendered totaling $60,000 or $0.50 per
share.  The expense related to this transaction was not recorded in
1999.  Inasmuch, the retained earnings as of December 31, 1999 has
been restated by approximately $46,000 (net of tax effect) to account
for this transaction.  Correction of this error did not affect the
reported net income for the years ended December 31, 2001 and 2000.

9.  INCOME TAXES

Provision for income tax benefit (expense) in the statements of
operations includes the following amounts:

                                          For the year ended December 31
                                               2001           2000

State and Federal:
Current                                      $    (800)      $    (800)
Deferred                                       323,222         141,086

   Total                                     $ 322,422       $ 140,287

The provision for income taxes differs from the amount computed by
applying the statutory federal income tax rate to income before
taxes.  As of December 31, 1998, the Company had a net operating loss
carryforward of $225,405 of which the entire amount was utilized in 1999.

As of December 31, 2001, the Company has a net operating loss
carryforward of approximately $1,355,700 for tax purposes, which will
be available to offset future taxable income.  If not used, this
carryforward will expire in various periods through 2021.

The tax effects of temporary differences that give rise to
significant portions of deferred tax assets and liabilities at
December 31, 2001 and 2000 are as follows:

                                                         December 31
                                                      2001         2000
Deferred tax assets:
  Net operating loss carryover                        $  466,172   $  139,499
  Bad debt expense                                         6,257       12,645
                                                         472,429      152,144
Deferred tax liabilities:
  Depreciation expense                                         -       (2,137)
                                                               -       (2,137)

  Total net deferred tax assets (liabilities)         $  472,429   $  150,007

The Company considers recording a valuation allowance in accordance
with the provisions of SFAS No. 109 to reflect the estimated amount
of deferred tax assets which may not be realized.  In assessing the
realizability of deferred tax assets, management considers whether it
is more likely than not that some portion or all of the deferred tax
assets will not be realized.  The ultimate realization of deferred
tax assets is dependent upon the generation of future taxable income
during the periods in which those temporary differences become
deductible.  Management considers the scheduled reversal of deferred
tax liabilities, projected future taxable income and tax planning
strategies in making this assessment.  Accordingly, management
believes that it is more likely than not that all of the deferred tax
assets will be realized.

A reconciliation of income taxes at federal and state statutory rates
to the Company's provision for income tax benefit (expense) is as
follows:
                                                      For the Year Ended
                                                         December 31
                                                      2001           2000

Federal income tax at statutory rates                 $ 324,457    $ 143,493
State income tax at statutory rates                        (800)        (800)
Non-deductible expenses                                  (1,235)      (2,406)

                                                      $ 322,422    $ 140,287

10.  FORGIVENESS OF DEBT BY THE PRESIDENT OF THE COMPANY

During 2001, the Company's President forgave an indebtedness to an
entity owned by him from the Company totaling $17,260.

11.  COMMITMENTS AND CONTINGENCIES

Lease obligations - The Company has operating leases for all its
facilities.  Future minimum lease payments under the operating leases
for the facilities as of December 31, 2001 are as follows:

2002              $  64,000
2003                 66,560
2004                 69,220
2005                 71,996
2006                 61,980

Total             $ 333,756

Rental expense, resulting from operating lease agreements,
approximated $84,000 and $84,000 for the years ended December 31,
2001 and 2000, respectively.

Stock payable - In December 1999, the Company entered into a 48 month
consulting agreement with Rio Telecom, Inc. ("Rio") whereby Rio is to
receive $5,260 per month for 48 months and 100,000 shares of the
Company's common stock per month for ten months, for a total of
1,000,000 shares, both beginning in January 2000.  According to the
Compromise and Settlement Agreement referred to in Note 6, the
Company acknowledged an increase in the obligation to 1,200,000
shares of the Company's common stock.  As of December 31, 2001,
450,000 of the 1,200,000 shares of the Company's common stock have
been issued to Rio leaving 750,000 shares due to Rio as of December
31, 2001.  Since the consulting agreement spans over 48 months, Rio
has earned 600,000 shares thereby leaving 150,000 shares as a
liability as of December 31, 2001.  For the purposes of this
transaction the stock has been valued at $0.4531 per common share
using an 11-day average (5 days before and 5 days after the date of
the agreement) of the closing price of the Company's common stock.
As of December 31, 2001, there is a liability of $67,965 for the
150,000 shares of common stock due to Rio Telecom, Inc.

Pursuant to employment agreements with a former employee, the Company
has a liability of $47,844 for 150,000 shares of common stock.

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

No changes on this Report.

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

The names, ages, and respective positions of the directors, executive
officers, and key employee of One Touch are set forth below. The
directors named below will serve until the next annual meeting of One
Touch's stockholders or until their successors are duly elected and
have qualified. Directors are elected for a one-year term at the
annual stockholders' meeting. Officers will hold their positions at
the will of the board of directors, absent any employment agreement,
of which none currently exist or are contemplated. There are no
arrangements, agreements or understandings between non-management
shareholders and management under which non-management shareholders
may directly or indirectly participate in or influence the management
of One Touch's affairs. There are no other promoters or control
persons of One Touch. There are no legal proceedings involving the
directors of One Touch.

C. Jay Smith, President/Director.

Mr. Smith, age 53, has twenty years' experience as both an
entrepreneur and consultant, with an emphasis on telecommunications
business development and marketing strategies. From 1993 to 1996, Mr.
Smith served as Executive Vice President of Cancall Cellular
Communication, a publicly traded company on the Vancouver Stock
Exchange. Cancall specialized in providing pre-paid cellular services
to the credit challenged and rentals to the business traveler and
international tourist, utilizing state of the art technology. Mr.
Smith negotiated numerous airtime contracts with carriers such as Bell
NYNEX, Airtouch, AT&T Wireless, GTE Wireless, Bell South and others,
and personally operated corporate locations in Los Angeles, CA; San
Francisco, CA; San Diego, CA; Las Vegas, NV; Hawaii; Washington, D.C.
and Philadelphia and Pittsburgh, PA. In 1997, Mr. Smith founded
California Telephone Company, which eventually became One Touch Total
Communications, Inc; he has been president from that time to the
present. California Telephone remained inactive until January 1998,
when it began the acquisition of the assets of Communications Plus, a
company marketing a line of new and refurbished telecommunications
equipment; this acquisition was completed in October 1998. Mr. Smith
has not been involved with any other businesses from 1997 to the present.

Paul Palant, Director.

Mr. Palant, age 49, passed the California State Bar exam in February
1979 and was engaged in private practice in California from 1978
through 1988. From 1988 to 1994, he sat as a Judge Pro Tem for the El
Dorado County Municipal Court; from 1994 to 2000, he served as a
status conference judge for the El Dorado County Superior Court. Mr.
Palant has recently taught law classes in community property and civil
litigation at the Lake Tahoe Community College, and is Special Master
for the California State Bar Association for El Dorado, Alpine and
Placer Counties since 1990. Mr. Palant has experience as a member of
the boards of directors of Matrix Medical Group, Inc., Medical
Investors, Inc., and Go Big, Inc. Mr. Palant was appointed to the
board of directors of One Touch on January 21, 2001. He continues to
practice law in California on a part-time basis.

Michael Smith, Director.

Mr. Smith, age 51, served as chief information technology architect,
manager of advanced technology, Zions Bancorporation from October 1995
to April 1999, responsible for secure electronic commerce,
authentication, online banking, online trading and other projects for
the regional bancorporation and its subsidiaries, including the
founding of the Digital Signature Trust Company. From April 1999 to
the present, Mr. Smith has been the founder and a principal of
MFSNet.Com, Inc., an ecommerce incubator, developer and hosting
service provider. From February 2000 through December 2000, he served
as founder, vice president, and chief operating officer, and director
of business operations, of BroadStream.Com, Inc., a provider of
statistics and smart distribution services to the Streaming Media. Mr.
Smith was appointed to the board of directors of One Touch on January
21, 2001, and is a brother of C. Jay Smith.

John Simoncic, Treasurer.

Mr. Simoncic, age 50 received a BS Degree in Accounting from Long
Island University, CW Post Center.  Mr. Simoncic has twenty years
experience in the financial services industry as a licensed Series 7
stockbroker and Series 3 commodity broker.  Since retiring from the
stock brokerage industry in May of 2000 Mr. Simoncic has performed
management and consulting services for both public and private companies.

Compliance with Section 16A of the exchange act

Section 16(a) of the Securities Exchange Act of 1934 requires the
Registrant's directors, certain officers and persons holding 10% or
more of the Registrant's common stock to file reports regarding their
ownership and regarding their acquisitions and dispositions of the
Registrant's common stock with the Securities and Exchange Commission.
Such persons are required by SEC regulations to furnish the Registrant
with copies of all Section 16(a) forms they file.

Based solely upon a review of Forms 3 and 4 and amendments thereto
furnished to the registrant under Rule 16a-3(d) during fiscal 2000,
Forms 5 with respect to fiscal 2001, and certain written
representations from executive officers and directors, there does not
appear to be  any necessary filings that remain undisclosed.

ITEM 10.  EXECUTIVE COMPENSATION.


<TABLE>
<CAPTION>

                                          Summary Compensation Table
<S>            <C>      <C>      <C>     <C>            <C>          <C>             <C>      <C>
                           Annual compensation                      Long-term Compensation
                                                                 Awards           Payouts
Name and                                 Other           Restricted   Securities
principal                                annual             stock     underlying      LTIP    All other
position       Year     Salary   Bonus   compensation     award(s)    options/SARs    payouts compensation
                          ($)     ($)       ($)             ($)           (#)           ($)       ($)
   (a)          (b)       (c)     (d)       (e)             (f)           (g)           (h)       (i)

Jay Smith,     2001      99,000    0         0               0             0             0         0
President/     2000     125,000    0         0               0             0             0         0
Director       1999        0       0         0               0        1,500,000(1)       0         0

Paul Palant    2001        0       0         0            100,000          0             0         0
Director

Michael Smith  2001        0       0         0               0             0             0         0
Director

John           2001      18,000    0         0           4,000,000         0             0         0
Simoncic
Treasurer

</TABLE>

(1) In October 1998, Mr. Smith was granted options to purchase
1,500,000 shares of One Touch's common stock. Of the total granted,
the options to purchase 500,000 shares vest on January 1 and expire on
December 31 of each year for three consecutive years. The exercise
price of each option is $0.50 per share.

(2) Paul Palant and Michael Smith were only appointed to the Board of
Directors of One Touch on January 21, 2001.

(3) Mr. Simoncic, the Company's Treasurer, was issued 4,000,000 shares
on November 5th, 2001.

Employment Agreement.

On October 1st. 2001, all employment contracts with the Company
expired. One Touch hopes to have a new employment contract with C. Jay
Smith in the near future.

Previously, C. Jay Smith was previously employed under an employment
contract which expired on October 1st of 2001.(see exhibit 10.1). The
Company hopes to have a similar plan with Mr. Smith in the near future.

Other Compensation.

There are no annuity, pension or retirement benefits proposed to be
paid to officers, directors, or employees of One Touch in the event of
retirement at normal retirement date as there is no existing plan
provided for or contributed to by One Touch.. The Company does have an
existing Non-Employee Directors and Consultants Retainer Stock Plan.
The purpose of the plan is to promote the interests of the Company and
its shareholders by attracting and retaining non-employee Directors
and Consultants capable of furthering the future success of the
Company and by aligning their economic interests more closely with
those of the Company's shareholders.

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

The following table sets forth certain information as of 03/21/02
with respect to the beneficial ownership of common stock by (i) each
person who to the knowledge of the Company, beneficially owned or had
the right to acquire more than 5% of the Outstanding common stock,
(ii) each director of the Company and (iii) all executive offices and
directors of the Company as a group.

Title of         Name and Address                  Amount of       Percent of
Class            of Beneficial Owner               Beneficial         Class
                                                   Ownership

Common Stock     C. Jay Smith                      3,337,342(2)       15.09%
                 1630 South Sunkist Street
                 Suite K Anaheim, CA 92806

Common Stock     Michael Smith                       100,000(4)       .0045%
                 1630 South Sunkist Street
                 Suite K Anaheim, CA 92806

Common Stock     Paul Palant                         150,000           .007%
                 1630 South Sunkist Street
                 Suite K Anaheim, CA 92806

Common Stock     John S. Simoncic                  4,644,600          21.004%
                 1971 Avenida Joaquin
                 Encinitas, CA 92024

Common Stock     All directors and                 8,231,942          37.23%
                 executive officers and key
                 Employees as a group (4 persons)

Common Stock     Madison Business Trust            1,650,000           7.46%
                 3900 Birch Street, Suite 113
                 Newport Beach, CA  92660

Common Stock     David Andrew Irrevocable Trust    2,600,000          11.76%
                 3900 Birch Street, Suite 113
                 Newport Beach, CA  92660

(1) Other than as footnoted, none of these security holders has the
right to acquire any amount of common stock within sixty days from
options, warrants, rights, conversion privilege, or similar obligations.

(2) In October 1998, C. Jay Smith was granted options to purchase
1,500,000 shares of One Touch's common stock. The options to purchase
500,000 shares out of the total amount vest on January 1 and expire on
December 31 of each year for three consecutive years. The exercise
price of each option is $0.50 per share. The total for Mr. C. Jay
Smith includes the current 500,000 options which vested on January 1,
2001. These options have expired.

(3) In October 1998, Marc R. Tow, a former director of One Touch, was
granted options to purchase 750,000 shares of One Touch's common
stock. The options to purchase 250,000 shares out of the total amount
vest on January 1 and expire on December 31 of each year for three
consecutive years. The exercise price of each option is $0.50 per
share. The total for Mr. Tow includes the current 250,000 options
which vested on January 1, 2001. These options have expired.

(4) 100,000 of this total is held in the name of MFSNET.com, a company
controlled by Michael Smith.

(5) John Simoncic, the Company's treasurer, agreed to perform certain
consulting services for the Issuer in exchange for 4,000,000 shares of
stock of the Issuer on November 5, 2001.

(6) The Madison Business Trust and the David Andrew Irrevocable Trust
are both controlled by the same trustee, Richard A. Nuthmann. The
total amount of shares controlled by Mr. Nuthmann, therefore, equals
4,250,000  shares or 19.22% of the total outstanding shares.  These
shares were placed in these trusts for the benefit of Mark R. Tow.

(7) In July, 2001, Mr. Smith, then the Company's President, Secretary,
and Treasurer, entered into a Comprise and Settlement Agreement in
which he  returned 2,800,000 shares to the Company.

(8) On March 26th of 2002, the Company entered into a mutual release
agreement in which the David Andrew Trust was to transfer one million
(1,000,000) shares of restricted stock back to the Company within 15
days from the date of the release. The 2,600,000 shares above does not
reflect this transfer.

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

During the last two years, other than as set forth below, there has
not been any transaction, or proposed transactions, to which One Touch
was or is to be a party, in which any of the officers, directors, key
employees, or 5% or greater shareholders, had or are to have a direct
or indirect material interest.

Mr. Smith, president of One Touch, had an employment contract with One
Touch  which expired in 10/01/01. Mr. Smith received $99,000 in
compensation in the year 2001. One Touch hopes to have a new
employment agreement worked out in the near future.

In October 1998, Mr. Smith was granted options to purchase 1,500,000
shares of One Touch's common stock. The options to purchase 500,000
shares vest on January 1 and expire on December 31 of each year for
three consecutive years. The exercise price of each option is $0.50
per share. All of these options have expired.

In October 1998, Marc R. Tow, a former director of One Touch, was
granted options to purchase 750,000 shares of One Touch's common
stock. The options to purchase 250,000 shares vest on January 1 and
expire on December 31 of each year for three consecutive years. The
exercise price of each option is $0.50 per share. All of these options
have expired.

At various times during the fiscal year ended December 31, 1999, a
total of 360,000 shares of common stock were issued to Mr. Smith and
Mr. Tow based on the exercise of options previously granted; these
options were exercised in exchange for services rendered to One Touch
valued at $180,000 (weighted average of $0.50 per share).

In May 1999, One Touch entered into a consulting agreement with
MFSNet.com which is owned and operated by a sibling of the president
and CEO of One Touch. The agreement is for networking and website
development related services and provides for payment of 100,000
shares of One Touch's common stock for services performed. These
shares were issued to MFSNet.com in March 2000. The transaction has
been valued at $28,613 based on the value of the services rendered.

On March 1, 2000, One Touch issued 50,000 shares of common stock to
Richard Luna, the Company's former Vice President as a bonus for
signing an employment with One Touch valued at $28,613 (weighted
average of $0.29 per share).

In July 2001, the Company entered into a Compromise and Settlement
Agreement (the "Agreement") with and between its President, Secretary,
and Treasurer.  The Agreement provides for, among other things, the
release and settlement for the following items: (1) return of
2,800,000 shares of the Company's common stock from the President; (2)
issuance of 4,000,000 restricted shares of the Company's common stock
to an individual, now Company Treasurer; (3) issuance of 3,000,000
restricted shares of the Company's common stock to an attorney and
stockholder of the Company for legal services provided; and (4)
acknowledgement of an obligation to a consultant for 1,200,000 shares
of the Company's common stock.

Pursuant to the Comprise Agreement, on November 5th, 2001, 4,000,000
shares were issued to John Simoncic , the Company's Treasurer for
services valued at $240,000. Further, Mr. Smith has since returned
1,000,000 shares of the 2,800,000 as of December 31, 2001.

On November 5th, 2001, 3,000,000 shares were issued to Mark Tow (care
of the Madison Business Trust and the  David Andrew Irrevocable Trust
for legal services valued at $180,000.

On November 5th, 2001, 560,000 shares were issued to Brian Faulkner
(care of Lynette Faulkner) for legal services valued at $50,400.

On November 5th, 2001, 100,000 shares were issued to Paul Palant, the
Company's Director, for services valued at $13,000.

On March 26, 2002, the Company entered into a mutual release agreement in
which the David Andrew Trust was to transfer one million (1,000,000) shares
of restricted stock back to the Company within 15 days from the date of the
release.  Further, pursuant to this mutual release, 360,000 shares of free-
trading stock, issued to Lanette B. Faulkner, is to be returned within 15 days
from the date of this release.

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

Exhibit                    Description

2.1     Agreement for Exchange of Common Stock between One Touch and California
        Telephone Company, Inc., dated August 6, 1999. *

3.1     Articles of Incorporation, dated May 9, 1986. *

3.2     Certificate of Amendment of Articles of Incorporation, dated July 30,
        1986. *

3.3     Amended Articles of Incorporation, dated June 27, 1989. *

3.4     Certificate of Amendment of Articles of Incorporation, dated December 3,
        1990. *

3.5     Amended Articles of Incorporation, dated May 24, 1999. *

3.6     Articles of Merger (including a name change), dated September 22, 1999.*

3.7     Certificate of Amendment to Articles of incorporation, dated February
        28, 2001.*

3.8     Bylaws, dated October 25, 1999. *

10.1    Employment Agreement between One Touch and C. Jay Smith, dated September
        1, 1998. *

10.2    Electronic Commerce Architecture Project between One Touch and
        MFSNet.Com, dated May 1, 1999. *

10.3    Employment Agreement between One Touch and Richard G. Luna, dated
        December 6, 1999. *

16.1    Letter on change in certifying accountant. *

  *Incorporated by reference. (filed with Company's Form SB-2/A filed on
September 18, 2001)

                                       SIGNATURES

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


                                   By: /s/C. Jay Smith, President/Director

Date:  April 12, 2002

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



                                   By: /s/Paul Palant, Director

Date:  April 12, 2002


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



                                   By: /s/John Simoncic, Treasurer

Date:  April 12, 2002