<PAGE>

              UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, D.C. 20549

                                 FORM 10-KSB/A
(Mark One)
[X] Annual Report Pursuant to Section 13 or 15(d) of the Securities and
Exchange Act of 1934 for the fiscal year ended: February 28, 2002
[  ] Transition Report Pursuant to Section 13 or 15(d) of the Securities and
Exchange Act of 1934 for the transition period from __________ to __________

     Commission File Number: 1-15165
                             -------

                    BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                    ---------------------------------------
          (Name of Small Business Issuer As Specified In Its Charter)

              DELAWARE                                98-0208402
              --------                                ----------
   (State or Other Jurisdiction of        (IRS Employer Identification No.)
    Incorporation or Organization)

            1140 MCDERMOTT DRIVE, WEST CHESTER, PENNSYLVANIA 19380
            ------------------------------------------------------
             (Address of principal executive offices)   (Zip Code)

                                (610) 436-8029
                                --------------
               (Issuer's Telephone Number, Including Area Code)

Securities registered pursuant to Section 12(b) of the Exchange Act:

     Title of Each Class            Name of Exchange On Which Registered
     -------------------            ------------------------------------
Common Stock ($0.0001 par value)                   None

Check whether the issuer: (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act of 1934 during the past 12 months (or
for such shorter period that the issuer was required to file such reports),
and (2) has been subject to such filing requirement 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 contained in this form, and that no disclosure will be
contained, to the best of issuer'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. [  ]

Issuer's revenues for its most recent fiscal year were $0.

The aggregate market value of the registrant's common stock (the only class of
voting stock), held by non-affiliates was approximately $ 1,831,872 based on
the average closing bid and ask price for the common stock on August 5, 2002.

As of August 5, 2002 there were 6,857,902 shares outstanding of the
registrant's common stock.



<PAGE>

                    BULLET ENVIRONMENTAL TECHNOLOGIES, INC.

                                FORM 10-KSB/A

                     FOR THE YEAR ENDED FEBRUARY 28, 2002

                                   INDEX

PART I
Item 1.   Description of Business                                        2
Item 2.   Description of Property                                        4
Item 3.   Legal Proceedings                                              5
Item 4.   Submission of Matters to a Vote of Security Holders            5

PART II
Item 5.   Market for Common Equity and Related Stockholder Matters       5
Item 6.   Plan of Operation                                              6
Item 7.   Financial Statements                                           7
Item 8.   Changes in and Disagreements with Accountants on Accounting   23
          and Financial Disclosure

PART III
Item 9.   Directors, Executive Officers, Promoters and Control          23
          Persons; Compliance With Section 16(a) of the Exchange Act.
Item 10.  Executive Compensation                                        25
Item 11.  Security Ownership of Certain Beneficial Owners and           25
          Management
Item 12.  Certain Relationships and Related Transactions                26
Item 13.  Exhibits and Reports on Form 8-K                              27


SIGNATURES                                                              28

EXHIBITS                                                                29


                                      1

<PAGE>

PART I

ITEM 1.  DESCRIPTION OF BUSINESS.

BUSINESS DEVELOPMENT

As used herein, the term "Company" refers to ComCam, Inc., a Delaware
corporation and its subsidiaries and predecessors, unless the context
indicates otherwise.

The Company was originally incorporated under the laws of the State of
Delaware on December 18, 1997 under the name of  "Innovin Development
Corporation".  The Company merged with Innovin, Inc., a Colorado corporation
on March 5, 1998 with Innovin Development Corporation being the surviving
corporation.  On March 5, 1998, in anticipation of going into the mining
business, the Company amended its Certificate of Incorporation to change its
name to, "Anglo-Sierra Resources Corp".  On March 15, 1999, in order to
reflect our plan to market certain waste treatment technology under the trade
name "Bullet", the Company amended its Certificate of Incorporation to change
its name to, "Bullet Environmental Technologies, Inc." The Company's name was
changed to ComCam, Inc. on June 3, 2002 to reflect the acquisition of ComCam
International, Inc. as a majority owned subsidiary ("ComCam").

The Company's business plan during the period covered by this report was to
seek one or more suitable business combinations or acquisitions to create
value for our shareholders. The Company had no day-to- day operations. Our
sole officer and director devoted requisite time and attention to the affairs
of the Company. Management adopted a conservative policy of seeking
opportunities that they considered to be of exceptional quality and did not
plan to restrict its consideration to any particular business or industry
segment. The decision to participate in a specific business opportunity was to
be made upon management's analysis of the quality of the other business'
management and personnel, the anticipated acceptability of new products or
marketing concepts, the merit of technological changes and numerous other
factors.

On November 8, 2001, the Company signed a letter of intent with ComCam, a
privately held Delaware technology corporation that had developed a technology
for video and other information compression over low bandwidth wireless and
traditional networks.  The Company acquired ComCam on May 30, 2002  pursuant
to the terms of a stock exchange agreement whereby the Company agreed to issue
to the shareholders of ComCam 2,285,969 shares of the Company's restricted
common stock on a pro rata basis, grant 551,250 purchase warrants with an
exercise price of $1.50 to those shareholders of ComCam that held share
purchase warrants in ComCam and to reserve 2,250,000 shares of the Company's
restricted common stock for future issuance to the shareholders of ComCam pro
rata basis on the basis of three shares of the Company's common stock for each
$1.00 of earnings from operations for each fiscal year, for a period of three
years,  in exchange for all the issued and outstanding shares and share
purchase warrants of ComCam. On May 30, 2002 the Company acquired
approximately 89% of ComCam and expects to acquire the remaining shares and
share purchase warrants of ComCam.


                                      2

<PAGE>

FORWARD LOOKING DESCRIPTION OF BUSINESS

The acquisition of ComCam places the Company in the forefront of the rapidly
growing worldwide market for fixed and mobile digital video cameras and
communication systems. ComCam is a leading provider of IP-enabled fixed and
mobile digital video camera technology and communication systems. ComCam's
sophisticated system and innovative video compression technology are built
directly into the camera, providing high quality video with low bandwith
requirements. The Company's IDNC-10 "client-server-in-a-camera" series offers
a "smart feature set" and capabilities such as motion detection and biometric
analysis, including facial and thumbprint recognition not found in any camera
currently on the market. ComCam compressed video images and other data can be
stored at the camera or transmitted immediately over any network, fixed or
wireless, to devices using any format, including cell phones, personal digital
devices, personal computers, laptops and servers.

The compressed video images and other data can be stored at the camera or
transmitted immediately over any network, fixed or wireless, to devices using
any data format, including cell phones, personal digital devices, personal
computers, laptops and servers. ComCam's design flexibility enables use across
licensed and unlicensed radio standards, thus permitting deployment of ComCam
products to nearly 100 countries including the U.S., Japan and the European
community. In addition to video applications, ComCam's products can be
integrated with motion detection devices and biometric products, including
facial and thumbprint recognition. ComCam's "client-server-in-a-camera's",
superior technology, is more cost effective than any other similar device on
the market today and can be purchased for under $1,000 per unit in many cases.

Initial sales of ComCam's products have focused on the security and monitoring
markets. ComCam has begun to build an international distribution network, with
sixteen distributors operating in ten countries in the U.S., Asia and the
European community. Among the diverse uses that ComCam systems are being
deployed for are: software for air cargo security for a European airline;
airport security and highway traffic monitoring in Italy and Hong Kong; truck
cargo security in South Africa; classified applications by the U.S. Department
of Defense; and perimeter security for a major U.S. pharmaceutical firm.

ComCam was the world's first company to design, manufacture, and sell
integrated 802.11b (WiFi) and Japan's famous NTT DoCoMo-compliant IP wireless
cameras.

ComCam is implementing two innovative long-term revenue opportunities. One
involves the deployment of a fully integrated, back-end hosting subscription
service that is billed monthly. Initial trials are underway in Pennsylvania
and Texas. The service will be deployed in partnership with distributors or
dealers with target markets in the commercial and residential sectors. The
service includes video capture and storage and can provide multiple viewing
and playback opportunities as well as Internet access. The second involves the
licensing of elements of ComCam's core technology for use in other products.
Licensing agreements are being awarded in terms of both a base licensing fee
as well as per-unit royalty fees.

International, national and local standards set by governmental regulatory
authorities set the regulations by which communications are transmitted within
and across respective territories. ComCam's fixed and mobile digital video
cameras and communication systems are subject to such regulation in addition
to national, state and local taxation. ComCam has successfully operated within
present governmental regulations in various jurisdictions and is confident
that any changes in governmental regulations can be met in relation to its
core technology.


                                      3

<PAGE>

Competition within the international market for fixed and mobile commercial
video cameras and other equipment communication systems is intense. While
there is no dominant technological or business leader, there are many
companies with greater financial resources and more established distribution
channels than ComCam. However, ComCam is bringing to market a highly
competitive video camera system that meets the requirements of both the
commercial wired and wireless end-users. Most importantly, offering a fully
functional, compact wireless system opens new market opportunities for mobile
and wearable deployment. ComCam's products are distinguished by
next-generation innovations that are more sophisticated, flexible and cost
effective than competitive products currently in the market place.


ComCam expensed $160,000 in 2001 and $563,901 in 2000 on research and
development activities in over the past two years. Research and development
focused on core software developments, market trials, and pre-production
assembly. The recent decrease in research and development spending is due to
limited funding.

The physical assembly of ComCam's products is undertaken in Korea, New York
and most recently Germany under manufacturing arrangements. ComCam relies on
two single source suppliers for certain key components of its products. ComCam
is confident that this reliance does not pose an impediment on the company's
potential performance and believes that this reliance may well be phased out
of ComCam's next generation products.

ComCam is required to Federal Communications Commission approval, specifically
for Class A, B and Part 15 for the telephone related applications of its
hardware products. ComCam's German manufacturer is in the process of obtaining
these approvals at an insignificant cost to ComCam.

ComCam currently employs eight (8) people as independent contractors.
Management believes that these independent contractors will be engaged as
employees when sufficient funding is assured.

REPORTS TO SECURITY HOLDERS

The Company is not required to deliver an annual report to security holders
and will not voluntarily deliver a copy of the annual report to the security
holders. Should the Company choose to create an annual report, it will contain
audited financial statements. The Company files all of its required
information with the Commission.

The public may read and copy any materials that are filed by the Company with
the Commission at the Commission's Public Reference Room at 450 Fifth Street,
N.W., Washington, D.C. 20549. The public may obtain information on the
operation of the Public Reference Room by calling the Commission at
1-800-SEC-0330. The statements and forms filed by the Company with the
Commission have been filed electronically and are available for viewing or
copy on the Commission maintained Internet site that contains reports, proxy,
and information statements, and other information regarding issuers that file
electronically with the Commission. The Internet address for this site can be
found at: http://www.sec.gov.

ITEM 2.  DESCRIPTION OF PROPERTY

The Company leases 4,500 square feet of office space in West Chester,
Pennsylvania on a five year lease commencing February 17, 2000 at $3,398.64 a
month in 2001. The Company also leases office space in Vancouver, British
Columbia on a month-to-month basis at a monthly rental of $2,000

The Company believes that its current office space is generally suitable and
adequate to accommodate its current operations.


                                      4

<PAGE>

ITEM 3.  LEGAL PROCEEDINGS

The Company is currently not a party to any pending legal proceeding.

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 year ended February 28, 2002.

                                    PART II

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

The Company's common stock is traded on Over the Counter Bulletin Board under
the symbol CMCA.OB. Prior to July 24, 2002, the Company traded under the
symbol BLLE.OB.
The following table sets forth for the periods indicated the high and low bid
prices for the common stock as reported each quarterly period within the last
two fiscal years on the OTC Bulletin Board and the Pink Sheets LLC.  The
prices are inter-dealer prices, do not include retail mark up, mark down or
commission and may not necessarily represent actual transactions.
FISCAL QUARTER                                        HIGH         LOW
12/01/99 - 02/29/00                                   5.00         3.00
03/01/00 - 05/31/00                                   4.41         3.00
06/01/00 - 08/31/00                                   4.44         3.19
09/01/00 - 11/30/00                                   4.66         3.25
12/01/00 - 02/28/01                                   4.00         2.00
03/01/01 - 05/31/01                                   2.75         1.72
06/01/01 - 08/31/01                                   1.60         0.20
09/01/01 - 11/30/01                                   1.39         0.10
12/01/01 - 02/28/02                                   0.95         0.71

Record Holders

As of August 5, 2002, there were approximately 62 shareholders of record
holding a total of 6,857,902 shares of common stock. The holders of the common
stock are entitled to one vote for each share held of record on all matters
submitted to a vote of stockholders.  Holders of the common stock have no
pre-emptive rights and no right to convert their  common  stock into any other
securities. There are no redemption or sinking fund provisions applicable to
the common stock.

Dividends

The Company has not declared any cash dividends since inception and does not
anticipate paying any dividends in the foreseeable future.  The payment of
dividends is within the discretion of the board of directors and will depend
on the Company's earnings, capital requirements, financial condition, and
other relevant factors.  There are no restrictions that currently limit the
Company's ability to pay dividends on its common stock other than those
generally imposed by applicable state law.

Recent Sales of Unregistered Securities


                                      5

<PAGE>

The Company sold no unregistered securities sold within the period covered by
this annual report that were not made part of the Company's quarterly reports.

ITEM 6.  PLAN OF OPERATION

PLAN OF OPERATION

The Company's plan of operation is to develop, manufacture, and sell ComCam's
video and other information compression over low bandwidth wireless and
traditional networks technology on an international basis.

During the first quarter of the period the Company focused on completing its
due diligence inquiry into ComCam and completing the requisite documentation
to acquire ComCam as a wholly owned subsidiary on May 30, 2002. The Company
further chose to adopt ComCam's fiscal year of December 31 and has prepared
its plan of operation accordingly.

During the second quarter of the fiscal year, a one month period (May 31 -
June 30) the Company focused on integrating management into operations by
appointing new officers and directors, changing the Company's name and trading
symbol and focusing on obtaining new funding.

During, the third quarter of the current fiscal year, the Company will be
involved in the release of a new software product "C3" in English, Japanese
and German that can be used in conjunction with the
"client-server-in-a-camera-system". The Company intends to pilot the
production of the IDNC-10 product by the contract manufacturer in Germany.
Management intends to attend at least security related trade shows in the
United States, Japan and Germany to identify and utilize strategic partners
and dealers for the Company's products.

During the fourth quarter of the current fiscal year, the Company will
concentrate on production rollouts with its current dealers and continue the
development of a dealer network in Europe and Asia.  The Company will focus on
research and development designed to reduce costs associated with component
parts. The Company anticipates sufficient production in the fourth quarter to
fulfill current sales opportunities and develop future marketing
opportunities. Finally, ComCam will continue to offer engineering services
that utilize its technology in existing third party products.

LIQUIDITY AND CAPITAL RESOURCES

As of February 28, 2002, the Company had no significant assets. The Company
anticipates raising capital through debt or equity financings from public or
private sources to satisfy the cash needs of fulfilling its aggressive plan of
operation through the calendar year ending December 31, 2002. However, there
can be no assurances that the Company will be able to raise the required by
its plan of operation.

The Company intends to expend on research and development as it moves to
develop the "camera-in-a-computer" system. The intention to expend sums in the
fourth quarter on research and development is dependent on the Company's
ability to raise sufficient capital to satisfy its plan of operation.

The Company intends to contract the manufacture of the "computer-in-a-camera"
as described in its plan of operation, thereby minimizing the Company's need
to spend significant capital amounts on the purchase of equipment.

The Company intends to hire its current contractors as employees to be
managers, production personnel and sales people in accord with its plan of
operation. The intention to hire employees is subject to the Company's ability
to raise sufficient capital to satisfy its plan of operation.


                                     6

<PAGE>

ITEM 7.  FINANCIAL STATEMENTS

The Company's financial statements for the fiscal year ended February 28, 2002
are attached hereto as pages 8 through 22.







                                      7

<PAGE>






                   BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                       (A Development Stage Company)


                            FINANCIAL STATEMENTS
                    (Expressed in United States Dollars)


                             FEBRUARY 28, 2002












                                       8

<PAGE>

                         INDEPENDENT AUDITORS' REPORT


To the Stockholders and Board of Directors of
Bullet Environmental Technologies, Inc.
(A Development Stage Company)


We have audited the accompanying balance sheets of Bullet Environmental
Technologies, Inc. as at February 28, 2002 and 2001 and the related statements
of operations, stockholders' deficiency and cash flows for the years then
ended and for the period from start of development stage on March 1, 1999 to
February 28, 2002.  These financial statements are the responsibility of the
Company's management.  Our responsibility is to express an opinion on these
financial statements based on our audits.

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

In our opinion, these financial statements present fairly, in all material
respects, the financial position of the Company as at February 28, 2002 and
2001 and the results of its operations and its cash flows for the years then
ended and for the period from start of development stage on March 1, 1999 to
February 28, 2002 in conformity with generally accepted accounting principles
in the United States of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern.  As discussed in Note 2 to the
financial statements, the Company is dependent upon financing to continue
operations and has suffered recurring losses from operations.  These matters
raise substantial doubt about the Company's ability to continue as a going
concern.  Management's plans in regards to these matters are discussed in Note
2.  The financial statements do not include any adjustments that might result
from the outcome of this uncertainty.







Vancouver, Canada                                        Chartered Accountants

May 10, 2002



                                      9

<PAGE>
<TABLE>
<CAPTION>
                     BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                          (A Development Stage Company)
                                 BALANCE SHEETS
                      (Expressed in United States Dollars)
                                AS AT FEBRUARY 28
                =================================================


                                                             2002           2001
                                                      -----------    -----------
<S>                                                   <C>            <C>

                         ASSETS

          CURRENT

  Cash                                                $    11,615    $       583
  Prepaid expenses                                          8,725             -
                                                      -----------    -----------

  Total current assets                                     20,340            583

Advances receivable (Note 4)                               75,000             -
                                                      -----------    -----------

TOTAL ASSETS                                          $    95,340    $       583
                                                      ===========    ===========



       LIABILITIES AND STOCKHOLDERS' DEFICIENCY


          CURRENT

Accounts payable and accrued liabilities              $   332,993    $   382,328
  Notes payable (Note 5)                                   10,390         51,457
                                                      -----------    -----------
  Total current liabilities                               343,383        433,785
                                                      -----------    -----------


          STOCKHOLDERS' DEFICIENCY

  Capital stock (Note 6)
    Authorized
     30,000,000 common shares, par value of $0.0001
      5,000,000 preference shares, par value of $0.0001
    Issued
      4,071,938 common shares (2001 - 2,970,422)              408            297
  Additional paid-in capital  (Note 6)                 1 ,546,024      1,206,702
  Stock subscriptions received in advance (Note 6)        100,000             -
  Deficit                                                (316,562)      (316,562)
  Deficit accumulated during the development stage     (1,582,194)    (1,325,848)
  Other comprehensive income                                4,281          2,209
                                                      -----------    -----------
  Total stockholders' deficiency                         (248,043)      (433,202)


  TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY      $    95,340    $       583
                                                      ===========    ===========

                 HISTORY AND ORGANIZATION OF THE COMPANY (NOTE 1)


    The accompanying notes are an integral part of these financial statements.

</TABLE>
                                       10

<PAGE>
<TABLE>
<CAPTION>

                     BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                         (A Development Stage Company)
                            STATEMENTS OF OPERATIONS
                      (Expressed in United States Dollars)
                ==================================================


                                                   Period From
                                                      Start of
                                                   Development
                                                      Stage on
                                                      March 1,
                                                       1999 to    Year Ended    Year Ended
                                                  February 28,  February 28,  February 28,
                                                          2002          2002          2001
                                                  ------------  ------------  ------------
<S>                                               <C>           <C>           <C>

                        EXPENSES

  Bank charges and interest                       $      2,675  $        513  $      1,745
  Consulting fees                                      605,571        93,525       175,761
  Management fees                                      212,042         8,720        42,192
  Office and miscellaneous                              24,314         5,483         4,543
  Professional fees                                    572,461        55,735        47,408
  Rent                                                  32,695        16,000            -
  Shareholder relations                                 24,315        24,315            -
  Transfer agent and registrar                          11,232         4,675         2,519
  Travel                                                69,514       2 0,005        11,583
                                                  ------------  ------------  ------------

LOSS FOR THE PERIOD BEFORE EXTRAORDINARY ITEM       (1,554,819)     (228,971)     (285,751)


EXTRAORDINARY ITEM
  Loss on settlement of notes payable (Note 5)         (27,375)      (27,375)           -
                                                  ------------  ------------  ------------

                LOSS FOR THE PERIOD               $ (1,582,194) $   (256,346) $   (285,751)
                                                  ============  ============  ============



Basic and diluted loss per share before extraordinary item      $      (0.07) $      (0.10)
Basic and diluted loss per share of extraordinary item                 (0.01)        (0.00)
                                                                ------------  ------------

BASIC AND DILUTED LOSS PER SHARE                                $      (0.08) $      (0.10)
                                                                ============  ============

WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING      3,302,695     2,875,080
                                                                ============  ============



          The accompanying notes are an integral part of these financial statements.

</TABLE>

                                             11


<PAGE>
<PAGE>
<TABLE>
<CAPTION>

                                   BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                                        (A Development Stage Company)
                                    STATEMENT OF STOCKHOLDERS' DEFICIENCY
                                     (Expressed in United States Dollars)
                              ==================================================


                                                                                            Deficit
                                                                                        Accumulated
                   Number of               Additional           Stock                    During the           Other
                      Common                  Paid-in   Subscriptions                   Development   Comprehensive
                      Shares     Amount       Capital        Received        Deficit          Stage          Income        Total
                  ----------   --------   -----------   -------------   ------------   ------------   -------------   ----------
<S>               <C>          <C>        <C>           <C>             <C>            <C>            <C>             <C>

    BALANCE AT
  FEBRUARY 28,
  1999               150,475   $     15   $   311,284   $         -     $   (316,562)  $         -    $       3,604   $   (1,659)

Shares issued
  for cash         2,000,000        200        99,800             -               -              -               -       100,000
Shares issued
  for cash           700,000         70       349,930             -               -              -               -       350,000
Return of shares
  to treasury for
  cancellation           (53)        -             -              -               -              -               -             -
Stock-based
  compensation for
  options issued to
  consultants and
  non-employees           -          -        385,700             -               -              -               -       385,700
Loss for the year         -          -             -              -               -      (1,040,097)             -     1,040,097)
Cumulative
  translation
  adjustment              -          -             -              -               -              -           (1,102)      (1,102)
                  ----------   --------   -----------   -------------   ------------   ------------   -------------   ----------

    BALANCE AT
  FEBRUARY 29,
  2000             2,850,422        285     1,146,714              -        (316,562)    (1,040,097)          2,502     (207,158)

Shares issued for
  settlement of
  debt               120,000         12        59,988              -              -              -               -        60,000
Loss for the year         -          -             -               -              -        (285,751)             -      (285,751)
Cumulative
  translation
  adjustment              -          -             -               -              -              -             (293)        (293)
                  ----------   --------   -----------   -------------   ------------   ------------   -------------   ----------

   BALANCE AT
 FEBRUARY 28,
 2001              2,970,422        297     1,206,702              -        (316,562)    (1,325,848)          2,209     (433,202)

Shares issued for
  settlement
  of debts         1,101,516        111       339,322              -              -              -               -       339,433
Stock subscriptions
  received in
  advance                 -          -             -          100,000             -              -               -       100,000
Loss for the year         -          -             -               -              -        (256,346)             -      (256,346)
Cumulative
  translation
  adjustment              -          -             -               -              -              -            2,072        2,072
                  ----------   --------   -----------   -------------   ------------   ------------   -------------   ----------

   BALANCE AT
 FEBRUARY 28,]
 2002              4,071,938   $    408   $ 1,546,024   $     100,000   $   (316,562)  $ (1,582,194)  $       4,281   $ (248,043)
                  ==========   ========   ===========   =============   ============   ============   =============   ==========



                       The accompanying notes are an integral part of these financial statements.

</TABLE>
                                                           12
<PAGE>
<TABLE>
<CAPTION>

                            BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                                (A Development Stage Company)
                                   STATEMENTS OF OPERATIONS
                              (Expressed in United States Dollars)
                       ==================================================


                                                               Period From
                                                                  Start of
                                                               Development
                                                                  Stage on
                                                                  March 1,
                                                                   1999 to      Year Ended      Year Ended
                                                              February 28,    February 28,    February 28,
                                                                      2002            2002            2001
                                                              ------------    ------------    ------------
<S>                                                           <C>             <C>             <C>

CASH FLOWS FROM OPERATING ACTIVITIES

  Loss for the period                                         $ (1,582,194)   $   (256,346)   $   (285,751)
  Items not affecting cash:
    Consulting fees paid by stock options                          255,600              -               -
    Professional fees paid by stock options                        130,100              -               -
    Accrued interest on notes payable                                1,847             390           1,457
    Loss on settlement of notes payable                             27,375          27,375              -

  Changes in other non-cash operating assets and liabilities:
     Increase in prepaid expenses                                   (8,725)         (8,725)             -
     Increase in accounts payable and accrued liabilities          552,690         112,348         226,793
                                                              ------------    ------------    ------------

  Net cash used in operating activities                           (623,307)       (124,958)        (57,501)
                                                              ------------    ------------    ------------

CASH FLOWS FROM INVESTING ACTIVITIES

  Advances receivable                                              (75,000)        (75,000)             -
                                                              ------------    ------------    ------------

  Net cash used in investing activities                            (75,000)        (75,000)             -
                                                              ------------    ------------    ------------

CASH FLOWS FROM FINANCING ACTIVITIES

  Issuance of capital stock for cash                               450,000              -               -
  Notes payable                                                    158,918         108,918          50,000
  Stock subscriptions received in advance                          100,000         100,000              -
                                                              ------------    ------------    ------------

  Net cash provided by financing activities                        708,918         208,918          50,000
                                                              ------------    ------------    ------------

                                             - continued -



                 The accompanying notes are an integral part of these financial statements.

</TABLE>
                                               13

<PAGE>
<TABLE>
<CAPTION>

                            BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                                  (A Development Stage Company)
                                    STATEMENTS OF OPERATIONS
                             (Expressed in United States Dollars)
                       ==================================================


                                                               Period From
                                                                  Start of
                                                               Development
                                                                  Stage on
                                                                  March 1,
                                                                   1999 to      Year Ended      Year Ended
                                                              February 28,    February 28,    February 28,
                                                                      2002            2002            2001
                                                              ------------    ------------    ------------
<S>                                                           <C>             <C>             <C>

Continued...

Change in cash during the period                                    10,611           8,960          (7,501)


Effect of exchange rate changes on cash                                677           2,072            (293)
                                                              ------------    ------------    ------------

Net change in cash during the period                                11,288          11,032          (7,794)


     Cash, beginning of period                                         327             583           8,377
                                                              ------------    ------------    ------------

     Cash, end of period                                      $     11,615    $     11,615    $        583
                                                              ============    ============    ============

Cash paid during the period for interest                      $         -     $         -     $         -
                                                              ============    ============    ============

Cash paid during the period for income taxes                  $         -     $         -     $         -
                                                              ============    ============    ============


     Supplemental disclosure with respect to cash flows (Note 8)




                The accompanying notes are an integral part of these financial statements.

                                                  14
</TABLE>

<PAGE>
<PAGE>

                   BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                       (A Development Stage Company)
                     NOTES TO THE FINANCIAL STATEMENTS
                    (Expressed in United States Dollars)
                             FEBRUARY 28, 2002



1.   HISTORY AND ORGANIZATION OF THE COMPANY

Bullet Environmental Technologies, Inc. (the "Company") was incorporated under
the laws of the State of Delaware on December 18, 1997.  The Company was
considered to be in the exploration stage until February 28, 1999 at which
time it ceased its mineral exploration activities.  The Company is seeking
business opportunities in the hi-tech industry and as of March 1, 1999 is
considered to be a development stage company as the Company has not generated
revenues from its operations.

2.   GOING CONCERN

These financial statements have been prepared in conformity with generally
accepted accounting principles in the United States of America with the
on-going assumption that the Company will be able to realize its assets and
discharge its liabilities in the normal course of business.  However, certain
conditions noted below currently exist which raise substantial doubt about the
Company's ability to continue as a going concern.  These financial statements
do not include any adjustments to the amounts and classifications of assets
and liabilities that might be necessary should the Company be unable to
continue as a going concern.

The operations of the Company have primarily been funded by notes payable and
the issuance of capital stock.  Continued operations of the Company are
dependent on the Company's ability to complete additional public equity
financings or generate profitable operations in the future.  Management's plan
in this regard is to secure additional funds through future equity financings.
Such financings may not be available or may not be available on reasonable
terms.

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

                                                         2002           2001
                                                  ------------   ------------

Deficit                                           $   (316,562)  $   (316,562)
Deficit accumulated during the development stage   (1,582,194)     (1,325,848)
Working capital (deficiency)                         (323,043)       (433,202)
==============================================================================

3.   SIGNIFICANT ACCOUNTING POLICIES

These financial statements have been prepared in conformity with generally
accepted accounting principles in the United States of America.  The
significant accounting policies adopted by the Company are as follows:

     USE OF ESTIMATES

The preparation of financial statements in conformity with generally accepted
accounting principles in the United States of America requires management to
make estimates and assumptions that affect the reported amounts of assets and
liabilities  and the 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.



                                    15

<PAGE>

                   BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                       (A Development Stage Company)
                     NOTES TO THE FINANCIAL STATEMENTS
                    (Expressed in United States Dollars)
                             FEBRUARY 28, 2002



3.   SIGNIFICANT ACCOUNTING POLICIES (cont'd...)

     FOREIGN CURRENCY TRANSLATION

The Company has determined that the functional currency of its operations is
the local currency, the Canadian dollar.  Assets and liabilities denominated
in foreign currency are translated into U.S. dollars at the year-end exchange
rates.  Revenues and expenses are translated at the rates of exchange
prevailing on the dates such items are recognized in the statements of
operations.  Related exchange gains and losses are included in other
comprehensive income as a separate component of stockholders' deficiency.
Exchange gains and losses resulting from foreign currency transactions are
included in the statements of operations.

     INCOME TAXES

A deferred tax asset or liability is recorded for all temporary differences
between financial and tax reporting and net operating loss carryforwards.
Deferred tax expenses (benefit) result from the net change during the year of
deferred tax assets and liabilities.

Deferred tax assets are reduced by a valuation allowance when, in the opinion
of management, it is more likely than not that some portion or all of the
deferred tax assets will not be realized.  Deferred tax assets and liabilities
are adjusted for the effects of changes in tax laws and rates on the date of
enactment.

     LOSS PER SHARE

Basic loss per share is computed by dividing loss attributable to common
shareholders by the weighted average number of shares of common stock
outstanding during the period.  Diluted loss per share takes into
consideration shares of common stock outstanding (computed under basic loss
per share) and potentially dilutive shares of common stock.  Diluted loss per
share is not presented separately from loss per share as the exercise of any
options would be anti-dilutive.

     STOCK-BASED COMPENSATION

The Company has elected to follow the intrinsic value approach of Accounting
Principles Board Opinion No. 25, "Accounting for Stock Issued to Employees"
("APB 25"), and related interpretations, in accounting for its employee stock
options rather than the alternative fair value accounting allowed by
Statements of Financial Accounting Standards No. 123, "Accounting  for
Stock-Based Compensation" ("SFAS 123").  APB 25 provides that the compensation
expense relative to the Company's employee stock options is measured based on
the intrinsic value of the stock option. SFAS 123 permits companies to
continue to follow APB 25 and provide pro-forma disclosure of the impact of
applying the fair value method of SFAS 123.

The Company also adopted Financial Accounting Standards Board Interpretation
No. 44, "Accounting for Certain Transactions Involving Stock Compensation"
("FIN 44"), with respect to certain provisions applicable to new awards,
options repricings, and changes in grantee status.  FIN 44 addresses  practice
issues related to the application of APB 25.



                                    16

<PAGE>

                   BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                       (A Development Stage Company)
                     NOTES TO THE FINANCIAL STATEMENTS
                    (Expressed in United States Dollars)
                             FEBRUARY 28, 2002



3.   SIGNIFICANT ACCOUNTING POLICIES (cont'd...)

     STOCK-BASED COMPENSATION (CONT'D...)

The Company accounts for stock-based compensation issued to non-employees and
consultants in accordance with the provisions of SFAS 123 and Emerging Issues
Task Force No. 96-18, "Accounting for Equity Instruments that are Issued to
Other Than Employees for Acquiring or in Conjunction with Selling, Goods and
Services" ("EITF 96-18").

     NEW ACCOUNTING PRONOUNCEMENTS

In June 2001, the Financial Accounting Standards Board ("FASB") approved the
issuance of Statements of Financial Accounting Standards No. 141, "Business
Combinations" ("SFAS 141") and Statements of Financial Accounting Standards
No. 142, "Goodwill and Other Intangible Assets" ("SFAS 142").  SFAS 141
requires that all business combinations be accounted for using the purchase
method of accounting making the use of the pooling-of-interest method
prohibited.  This statement also establishes criteria for separate recognition
of intangible assets acquired in a purchase business combination.  SFAS 141 is
effective for business combinations completed after June 30, 2001.  SFAS 142
requires that goodwill no longer be amortized to earnings, but instead be
reviewed for impairment.  The statement is effective for fiscal years
beginning after December 15, 2001, and is required to be applied at the
beginning of an entity's fiscal year and to be applied to all goodwill and
other intangible assets recognized in its financial statements at that date.
Impairment losses for goodwill and indefinite-lived intangible assets that
arise due to the initial application of this statement (resulting from a
transitional impairment test) are to be reported as resulting from a change in
accounting principle.  Under an exception to the date at which this statement
becomes effective, goodwill and intangible assets acquired after June 30,
2001, will be subject immediately to the non-amortization and amortization
provisions of this statement.

In July 2001, FASB issued Statements of Financial Accounting Standards No. 143
"Accounting for Asset Retirement Obligations" ("SFAS 143")  that records the
fair value of the liability for closure and removal costs  associated with the
legal obligations upon retirement or removal of any tangible long-lived
assets.  The initial recognition of the liability will be  capitalized as part
of the asset cost and depreciated over its estimated useful life.  SFAS 143 is
required to be adopted effective January 1, 2003.

In October 2001, FASB issued Statements of Financial Accounting Standards No.
144, "Accounting for the Impairment on Disposal of Long-lived Assets" ("SFAS
144"), which supersedes 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 144 requires that long-lived assets that are to be
disposed of by sale be measured at the lower of book value or fair value less
cost to sell.  Additionally, SFAS 144 expands the scope of discontinued
operations to include all components of an entity with operations that (1) can
be distinguished from the rest of the entity and (2) will be eliminated from
the ongoing operations of the entity in a disposal transaction.  SFAS 144 is
effective for financial statements issued for fiscal years beginning after
December 15, 2001, and, generally, its provisions are to be applied
prospectively.

The adoption of these new pronouncements is not expected to have a material
effect on the Company's financial position or results of operations.


                                    17

<PAGE>

                   BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                       (A Development Stage Company)
                     NOTES TO THE FINANCIAL STATEMENTS
                    (Expressed in United States Dollars)
                             FEBRUARY 28, 2002



4.   PROPOSED ACQUISITION

During the current year, the Company entered into an agreement, as amended
on May 8, 2002, to acquire all of the issued and outstanding shares and
warrants of Comcam International, Inc. ("Comcam") in exchange for (i) the
issuance of 2,285,969 shares of common stock of the Company, (ii) the right
to purchase 551,250 shares of common stock of the Company at a price of
$1.50 per share, and (iii) the reservation of 2,250,000 shares of common
stock of the Company to be issued on the basis of one share for each $1 of
earnings from operations as defined in the agreement.

In anticipation of this transaction, the Company advanced $75,000 to Comcam.
The advances receivable are unsecured, non-interest bearing with no fixed
terms of repayment.  If the proposed acquisition does not proceed, the
advances will bear interest at 8% per annum from the date of termination.
Subsequent to February 28, 2002, the Company advanced an additional $75,000
to Comcam.

5.   NOTES PAYABLE

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

                                                    2002            2001
                                             ------------    ------------

Principal                                    $     10,000    $     50,000
Accrued interest                                      390           1,457
                                             ------------    ------------

                                             $     10,390    $     51,457
==========================================================================

The notes payable are unsecured, bear interest at 6% per annum and are
due on demand.

During the current year, the Company issued 395,000 shares of common stock
with an agreed value of $177,750 for the settlement of notes payable of
$150,375, resulting in a loss on settlement of $27,375.

6.   CAPITAL STOCK

Effective March 15, 1999, the Company implemented a 50:1 reverse stock split
where each issued and outstanding share of the Company's common stock was
converted to 0.02 shares of the Company's common stock.  Fractional shares
totalling 53 shares of common stock were returned to treasury for cancellation
in conjunction with the reverse stock split.  Stockholders' deficiency has
been restated to give retroactive recognition of the reverse stock split for
all periods presented by reclassifying from common shares to additional
paid-in capital the par value of converted shares arising from the split.
In addition, all references to number of shares and per share amounts of common
shares have been restated to reflect the reverse stock split.

In March 1999, the Company issued 2,000,000 shares of common stock for cash
proceeds of $100,000.

In February 2000, the Company issued 700,000 shares of common stock for
cash proceeds of $350,000.

In December 2000, the Company issued 120,000 shares of common stock at an
agreed value of $60,000 for the settlement of accounts payable totalling
$60,000.



                                    18

<PAGE>

                   BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                       (A Development Stage Company)
                     NOTES TO THE FINANCIAL STATEMENTS
                    (Expressed in United States Dollars)
                             FEBRUARY 28, 2002



6.   CAPITAL STOCK (cont'd...)

In October 2001, the Company issued 625,000 shares of common stock at an
agreed value of $125,000 for settlement of accounts payable totalling
$125,000.

In December 2001, the Company issued 395,000 shares of common stock at an
agreed value of $177,750 for the settlement of notes payable totalling
$150,375, resulting in a loss on settlement of $27,375.

In January 2002, the Company issued 81,516 shares of common stock at an
agreed value of $36,683 for settlement of accounts payable totalling
$36,683.

   COMMON SHARES

The common shares of the Company are of the same class, voting and entitle
shareholders to dividends.  Upon liquidation, dissolution or wind-up,
shareholders are entitled to the residual business proceeds of the Company
after all of its debts, obligations and liabilities are settled.

   PREFERRED SHARES

The Company and its Board of Directors can issue shares of preferred stock
including authorizing dividend rates and features, conversion privileges,
redemption and sinking fund features and the rights of the shares in the
event of a liquidation, dissolution or wind-up.

   ADDITIONAL PAID-IN CAPITAL

The excess of proceeds received for common shares over their par value of
$0.0001, less share issue costs, is credited to additional paid-in capital.

   STOCK SUBSCRIPTIONS RECEIVED IN ADVANCE

During the current year, the Company received cash proceeds of $100,000
towards the issuance of 200,000 shares of common stock at a price of $0.50
per share.

   STOCK OPTIONS

There has been no stock option activity for the years ended February 28,
2002 and 2001.



                                   19

<PAGE>

                   BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                       (A Development Stage Company)
                     NOTES TO THE FINANCIAL STATEMENTS
                    (Expressed in United States Dollars)
                             FEBRUARY 28, 2002



6.   CAPITAL STOCK (cont'd...)

     STOCK OPTIONS (cont'd...)

Following is a summary of the status of options outstanding at February 28,
2002:

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

                           Outstanding Options            Exercisable Options
                  --------------------------------------  -------------------

                                 Weighted
                                  Average     Weighted               Weighted
                                Remaining      Average                Average
                              Contractual     Exercise               Exercise
Exercise Price     Number            Life        Price     Number       Price
--------------    ---------   -----------     --------   --------   ---------

$ 0.50               84,504         5.00       $  0.50         -

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

The options are exercisable for a period of five years from the date that
is 366 days after the completion of a public share offering by the Company.

7.   RELATED PARTY TRANSACTIONS

During the year ended February 28, 2002, the Company entered into the
following transactions with related parties:

   a) Paid or accrued management fees of $8,720 (2001 - $Nil) to a company
   controlled by a director of the Company.

   b)   Paid or accrued secretarial services of $6,462 (2001 - $Nil) to a
   company with a common officer.

   c)   Paid or accrued consulting fees of $3,210 (2001 - $Nil) and management
   fees of $Nil (2001 - $42,192) to a company controlled by a former director
   of the Company.

These transactions were in the normal course of operations and were measured
at the exchange value which represented the amount of consideration
established and agreed to by the related parties.

Included in accounts payable as at February 28, 2002 is $8,663 (2001 - $Nil)
to a company controlled by a director of the Company and $4,861 (2001 - $Nil)
to a company with a common officer.

8.   SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS

The significant non-cash transaction for the year ended February 28, 2002
consisted of the Company issuing 1,101,516 shares of common stock in the
amount of $339,433 for the settlement of notes payable of $150,375,
resulting in a loss on settlement of $27,375, and for the settlement of
accounts payable of $161,683.

The significant non-cash transaction for the year ended February 28, 2001
consisted of the Company issuing 120,000 shares of common stock in the
amount of $60,000 for the settlement of accounts payable.



                                     20

<PAGE>

                   BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                       (A Development Stage Company)
                     NOTES TO THE FINANCIAL STATEMENTS
                    (Expressed in United States Dollars)
                             FEBRUARY 28, 2002



9.   INCOME TAXES

A reconciliation of income taxes at statutory rates with the reported taxes
is as follows:

============================================================================
                                                        2002           2001
                                                 ------------   ------------

Loss before income taxes                         $  (256,346)   $  (285,751)
============================================================================


Expected income tax recovery                     $    87,158    $    97,155
Unrecognized benefit of operating loss carryforwards (87,158)       (97,155)

Actual income tax recovery                       $        -     $        -
============================================================================

   The Company's deferred income tax asset is as follows:

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

                                                         2002           2001
                                                  ------------   ------------

Deferred income tax asset:

     Operating loss carryforwards                 $    325,000   $    245,000

Valuation allowance                                   (325,000)      (245,000)
                                                  ------------   ------------
                                                  $         -    $         -

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

The Company has operating loss carryforwards of approximately $956,000 which
may be utilized to reduce future years' taxable income and expire beginning
in 2018.

The Company has provided a valuation allowance against its deferred tax asset
given that it is more likely than not that these benefits will not be
realized.  During the year ended February 28, 2002, the valuation allowance
increased by $80,000 (2001 - $147,000).

10.  FINANCIAL INSTRUMENTS

The Company's financial instruments consist of cash, advances receivable,
accounts payable and accrued liabilities and notes payable.  Unless otherwise
noted, it is management's opinion that the Company is not exposed to
significant interest, currency or credit risks arising from these  financial
instruments.  The fair value of these financial instruments  approximate their
carrying values, unless otherwise noted.

11.  SEGMENTED INFORMATION

The Company currently operates in one business segment in Canada.



                                    21

<PAGE>

                   BULLET ENVIRONMENTAL TECHNOLOGIES, INC.
                       (A Development Stage Company)
                     NOTES TO THE FINANCIAL STATEMENTS
                    (Expressed in United States Dollars)
                             FEBRUARY 28, 2002



12.  SUBSEQUENT EVENTS

On March 8, 2002 and April 5, 2002, the Company received cash proceeds
of USD$50,000 and CDN$43,000, respectively, towards future issuances of
common stock of the Company.

13.  COMPARATIVE FIGURES

Certain comparative figures have been reclassified to conform with the
current year's presentation.



                                    22

<PAGE>

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

The Company did not have any disagreements on accounting or financial
disclosures with our principal independent accountant during the previous two
years.

                                 PART III

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

The Company's officers and directors as of June 3, 2002, who will serve until
our next annual meeting, or until their successors are elected or appointed
and qualified, is as follows:

       NAME               AGE            YEAR              POSITIONS HELD
                                   ELECTED/APPOINTED

  Don Gilbreath            46             2002          President, Director

  Ross Wilmot              58             2001          Director, Secretary

  Robert Betty             47             2002          Director

  Nadir Walji              54             2002          Director

Don Gilbreath - Mr. Gilbreath has served as a director and as the Company's
president since June 3, 2002. He has 23 years' experience in product
development, engineering project management and specialized technical sales.
He has provided specialized R&D expertise to General Electric, Johnson
Controls, TCI, Standard & Poor's, and Commodore International.  Designed and
developed over 30 products including musical instruments, multimedia players,
and Internet access devices. Sold graphics systems including gaming terminals
in Europe and video editing systems in Asia.  Extensive experience in
directing international engineering teams, vendor negotiations, licensing,
patents, and offshore manufacturing.  Founder and president Gilbreath Systems
Inc., an international contract engineering and product development firm.
Current product line includes Windows-based video production test equipment
and consumer universal remote control. Designed and developed first generation
Internet-access TV-based set-top device.  Market test pre-dated WebTV by two
years.  1994 to 1997:  CTO and VP Engineering VIScorp.  System architect for
hardware, software, and ASIC for set-top box and derivative products.
Developed and managed extensive network of engineering talent.  Hired and
managed all technical personnel worldwide; offices in Pennsylvania,
California, and Tokyo; contractors in UK, France, and Germany.  Vendor
relations, patents, licensing, offshore manufacturing responsibilities.
General Engineering Contractor for OCTus.  Designed smart-phone incorporating
voice\data\fax and "in context" data base management at a PC terminal.
Retained by Nolan Bushnell, OCTuS Chairman and  Atari Computer founder, to
manage and deliver production device.  1987 to 1991:  Director of Product and
Market Development for Commodore International Ltd.  Chief Designer of CDTV,
world's first consumer multimedia player under $1000.  Secured original
funding, hired and negotiated all sub-contractors in North America, Europe,
and Japan.   This was a fifteen-month project from concept to production.
Worked directly for Irving Gould, Chairman.  Spent 3 years working throughout
Asia with top executives in sales and engineering from Matsushita, (MKE, MEI),
Mitsumi, Mitsumi, Ricoh, Yamaha, Dai Nippon, and others.  Created and
developed OEM sales channels and vertical markets for Commodore's complete
line of microcomputers and peripherals. European sales averaged $6M/yr.
Selected as delegate from USA to USSR for technology transfer of semiconductor
and computer architecture.


                                      23

<PAGE>

Ross Wilmot - Mr. Wilmot has served as a director since January 1999 and as
the Company's president from March 2001 to June 3, 2002.  Mr. Wilmot is a
Chartered Accountant.  In addition, he serves in the following capacities of
other companies:  director (from February 1999 to present) and vice-president
of finance (from January 1995 to February 1999) of Breckenridge Resources
Ltd.; director (from April 2000 to present), president (from April 2000 to
October 2001) and vice-president of finance (January 1995 to present) of
Briyante Software Corp.; director (from July 1996 to April 1998 and July 2001
to present) and vice-president of finance of CTF Technologies Inc. (from July
1996 to present); director (from July 1998 to February 1999) and
vice-president of finance and chief financial officer (from July 1998 to
present) of Imagis Technologies Inc.; director (from October 1997 to present)
and chief financial officer (October 1997 to May 2001) of Intacta Technologies
Inc.; director (from August 1995 to June 2001) and vice-president of finance
(from August 1995 to present) of Multivision Communications Corp.; director
(from April 1997 to present) and vice-president of finance (from January 1997
to present) of Neuer Capital Corp.; director and president of Orex Ventures
Inc. (from May 2001 to present); director (from May 1997 to present) and
president (from May 2001 to present) of Orko Gold Corp.; director (from April
1996 to present), secretary (from April 1996 to April 1999) and president
(from April 1999 to present) of Paloma Ventures Inc.; director and president
of Quantum Power Corporation (March 2001 to present); director (from February
1997 to present) and vice-president of finance( from June 1996 to June 2001)
of Radical Elastomers Inc.; and director and president of Sudamet Ventures
Inc. (from April 2001 to present).

Robert Betty  - Mr. Beatty was appointed as a director of the Company on June
3, 2002. He has over 22 years' experience in the electronics industry and is
the founder (1994) and current president of Pinnacle Electronic Systems Inc.,
a security systems integration firm located in West Chester, Pennsylvania.
From 1990 to 1994 he held various management positions for Maris Equipment
Inc. rising to vice president of operations with responsibility for all P&L
and a $63 million budget.  He has used his security systems expertise as
project and/or operations manager for, among others, state prisons, a
strategic oil reserve at Big Hill Texas, and five air bases located in Saudi
Arabia to support the F5 Aircraft. Betty is a member of several management
associations and holds numerous technical certificates.

Nadir Walji  - Mr.Walji was appointed as a director on the Company on June 3,
2002. Mr. Walji is a business consultant who has experience in developing the
application of new technologies. He has partnered with ERA-GSM deploying
wireless mobile communication networks in Poland and currently serves as an
officer and director of certain public companies. Mr. Walji has for the past
five years acted as a director of strategic planning for ValorInvest Limited,
a Swiss based company that provides various financial and management services
to organizations and technology incubators. Mr Walji as serves as the
secretary for Brasiclica Mining Corp., a copper mining company (from March
2000 to present); director of Sudamet Ventures Inc., an inactive company (from
June 2000 to present); director of Chilean Gold Ltd., an inactive company
(from November 2000 to present); director of Orex Ventures Inc., an inactive
company (from March 2001 to present).

Compliance with Section 16(a) of the Exchange Act

Based solely upon a review of Forms 3, 4 and 5 furnished to the Company, the
Company is aware of certain persons who during the fiscal year ended February
28, 2002 were directors, officers, or beneficial owners of more than ten
percent of the common stock of the Company, and who failed to file, on a
timely basis, reports required by Section 16(a) of the Securities Exchange Act
of 1934 during such fiscal year as follows:

Ross Wilmot failed to timely file a Form 3 disclosing his appointment to the
board of directors of the Company.


                                      24

<PAGE>

ITEM 10.  EXECUTIVE COMPENSATION

Summary Compensation Table. The following table sets forth certain summary
information concerning the compensation paid to the present director and to
the former director for the fiscal year ended February 28, 2002.

                                  Fiscal                            Other
Name and Principal Position    Year Ended    Salary    Bonus    Compensation

Ross Wilmot,                    2/28/02         0        0         $8,720*
President and Director          2/28/01         0        0            0
                                2/29/00         0        0            0


G.W. Norman Wareham,            2/28/02         0        0            0
Former President and            2/28/01         0        0         $42,192**
Sole Director
                                2/29/00         0        0         $31,030**

* These amounts were billed by Cedarwoods Group for services provided by Mr.
Ross Wilmot.
** These amounts were billed by Wareham Management Ltd. for services provided
by Mr. G.W. Norman Wareham.

Option/SAR Grants.  The Company has not granted any options or stock
appreciation rights to our officers or directors during the last fiscal year.

Aggregate Option/SAR Exercises. No stock options or stock appreciation rights
have been exercised in the last fiscal year.
Long Term Incentive Plan Awards. No long term incentive plans have been
awarded.

Compensation of Directors. No direct compensation to our director was paid or
authorized by our board of directors during the fiscal year ended February 28,
2002.

Employment Contracts And Termination Of Employment. We have not entered into
any employment contracts.  No compensation plan or arrangement exists which
provide for compensation in the event of a termination or resignation of our
president.

Report on Repricing of Options/SARS. No options or stock appreciation rights
have been granted to our directors or officers.

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

Security Ownership of Certain Beneficial Owners.  The following table provides
information regarding the Company's officers and directors and record owners
of at least five percent of our outstanding common stock as of June 3, 2002:


                                      25

<PAGE>

                                        Number of Shares owned
                Name and Address          As of June 3,2002       %of class

Title of Class

Common          Don Gilbreath                  990,286               144
                1525 Tanglewood Drive
                West Chester, Pennsylvania
                19383

Common          Robert Betty                   990,282               144
                912 Carrie Lane
                West Chester, Pennsylvania
                19383

Common          Ross Wilmot                          0                 0
                1075 West Georgia Street
                Vancouver, British
                Columbia Canada V6E 3C9

Common          Nadir Walji                          0                 0
                1075 West Georgia Street
                Vancouver, British
                Columbia Canada V6E 3C9

Common          First Capital Invest Corp.     500,000               7.3
                Muhlebachstrasse 54
                P.O. Box 2071
                CH-8032 Zurich
                Switzerland

Common          Valor Invest Limited           395,000               5.7
                29 Quai des Bergues,
                4th Floor
                CH 1201
                Geneva, Switzerland



All executive officers and directors as a group     1,980,572         28.9

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

During the fiscal year ended February 28, 2002, we paid $8,720 (2001: $nil) to
Cedarwoods Group, a company controlled by our president and sole director, Mr.
Ross Wilmot, for management services provided; $3,210 (2001: $10,450) to
Wareham Management, a company controlled by our former director for consulting
services provided; and $6,462 (2001: $nil) to International Portfolio
Management Inc., for administrative services provided, a company in which our
president is also an officer.

Included in accounts payable as of February 28, 2002 is $13,524 (2001: $nil)
due to these related parties.


                                      26

<PAGE>

ITEM 13.    EXHIBITS AND REPORTS ON FORM 8-K

(a)    Exhibits. Exhibits required to be attached by Item 601 of Regulation
       S-B are listed in the Index to Exhibits beginning on page 29 of this
       Form 10-KSB/A, which is incorporated herein by reference.

(b)    Reports on Form 8-K. The Company filed no reports on Form 8-K during
       the last quarter of the period covered by this report.


                                      27

<PAGE>

                                  SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934,
the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized this 6th day of August, 2002.


          COMCAM, INC. (FKA BULLET ENVIRONMENTAL TECHNOLOGIES, INC.)



          /s/ Don Gilbreath
          -----------------
          Don Gilbreath, President and Director

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


          Signature                Title                     Date
          ---------                -----                     ----

          /s/ Ross Wilmot          Director/Secretary        August 6, 2002
          Ross Wilmot

          /s/ Robert Betty         Director                  August 6, 2002
          Robert Betty

          /s/ Nadir Walji          Director                  August 6, 2002
          Nadir Walji


                                      28

<PAGE>

                               INDEX TO EXHIBITS

EXHIBIT     PAGE
NO.         NO.         DESCRIPTION
-------     ----        -----------

3(i)(a)     *     Certificate of Incorporation dated December 5, 1997
                  (incorporated by reference to the Form 10-SB filed on
                  September 20, 1999.
3(i)(b)     *     Amendment to Certificate of Incorporation dated February 28,
                  1998 (incorporated by reference to the Form 10-SB filed on
                  September 20, 1999).
3(i)(c)     *     Amendment to Certificate of Incorporation dated March 15,
                  1998 (incorporated by reference to the Form 10-SB filed on
                  September 20, 1999).
3(i)(d)     30    Amendment to Certificate of Incorporation dated June 3,
                  2002.
3(ii)       *     Bylaws (incorporated by reference to the Form 10-SB filed on
                  September 20, 1999).
10          *     Stock Exchange Agreement between the Company and ComCam
                  International, Inc. dated May 8, 2002 (incorporated by
                  reference to the Form 8K filed on June 18, 2002).


                                     29