<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                   FORM 10-QSB
                   Quarterly Report Under Section 13 or 15(d)
                     of the Securities Exchange Act of 1934.
      For the quarter ended March 31, 2002 Commission file number 000-25523

                                  ShareCom, Inc
             (Exact name of registrant as specified in its charter)


Nevada                                                 86-0857752
(State or other jurisdiction of                        (I.R.S. Employer
incorporation or organization)                         Identification No.)

430 Wanda Lane
Palatine, IL                                             60067
(Address of principal executive offices)               (Zip Code)


                               (847) 991-0569

               Registrant's telephone number, including area code

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 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

As of March 31, 2002 there were 746,360,722 shares of common stock outstanding.

<PAGE>

                                 SHARECOM, INC.
                              FOR THE QUARTER ENDED
                                 MARCH 31, 2002

                                      Index

<TABLE>
<CAPTION>
PART I - FINANCIAL INFORMATION                                                                         Page No.
<S>                                                                                                    <C>
     Item 1.  Financial Statements

              Balance Sheets                                                                              3

              Statements of Operations                                                                    4

              Statement of Stockholder's Equity                                                           5

              Statements of Cash Flows                                                                    6

              Notes to Financial Statements                                                             7 - 15

     Item 2.  Management's Discussion and Analysis of Financial                                        16 - 17
              Condition and Results of Operation

PART II - OTHER INFORMATION

     Item 1.  Legal Proceedings                                                                          18

     Item 2.  Changes in Securities                                                                      18

     Item 3.  Defaults by the Company upon its Senior Securities                                         18

     Item 4.  Submission of Matters to a Vote of Security Holders                                        18

     Item 5.  Other Information                                                                          18

     Item 6.  Exhibits and Reports of Form 8-K                                                           18


SIGNATURES
</TABLE>

<PAGE>

                                 SHARECOM, INC.
                                 BALANCE SHEETS

                         PART I - FINANCIAL INFORMATION

Item 1.   Financial Statements

<TABLE>
<CAPTION>
                                                                                  March 31,        December
ASSETS                                                                               2002          31, 2001
                                                                                 (Unaudited)
                                                                                -------------    ------------
<S>                                                                             <C>              <C>
CURRENT ASSETS
      Cash and cash equivalents                                                 $          14    $     68,688
      Accounts receivable                                                              25,235               -
      Prepaid expense                                                                   3,635           3,635
      Inventory                                                                        60,350           8,635
                                                                                -------------    ------------
              Total current assets                                                     89,234          80,958

      Property and equipment, net accumulated
      Depreciation of $23,537 and $20,208                                              26,277          29,606

       Intangible assets, net accumulated
       Amortization of $21,787 and $18,675                                             15,563          18,675
                                                                                -------------    ------------
              TOTAL ASSETS                                                      $     131,074    $    129,239
                                                                                =============    ============
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
CURRENT LIABILITIES
        Accounts payable and accrued expenses                                   $      64,044    $     66,897
        Convertible note payable                                                       86,244         100,000
        Due to related party                                                           92,428          44,318
                                                                                -------------    ------------
              Total current liabilities                                               242,716         211,215
                                                                                -------------    ------------
STOCKHOLDERS' DEFICIENCY
        Common stock - $.001 par value; 750,000,000 shares
           Authorized; 746,360,722 and 711,360,722 issued and outstanding             746,361         711,361
        Additional paid-in capital                                                 35,919,139      35,604,139
        Accumulated deficit                                                       (36,777,142)    (36,397,476)
                                                                                -------------    ------------
              Total stockholders' deficiency                                         (111,642)        (81,976)
                                                                                -------------    ------------
              TOTAL LIABILITIES AND STOCKHOLDERS'
                      DEFICIENCY                                                $     131,074    $    129,239
                                                                                =============    ============
</TABLE>

The accompanying notes are an integral part of the financial statement

                                       -3-

<PAGE>

                                 SHARECOM, INC.
                      STATEMENTS OF OPERATIONS (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                 FOR THE THREE MONTHS ENDED
                                                                               March 31, 2002       March 31, 2001
                                                                               --------------       --------------
<S>                                                                             <C>                 <C>
REVENUE, net                                                                    $      32,731         $          -

COST OF GOODS SOLD                                                                     21,653                    -
                                                                                -------------         ------------
GROSS PROFIT                                                                           11,078                    -
                                                                                -------------         ------------

SELLING, GENERAL ADMINISTRATIVE EXPENSES
   Research and development                                                                 -              124,609
   Consulting fees                                                                    330,020                    -
   Professional fees                                                                      861                    -
   Telephone expense                                                                    3,711                    -
   Outside Services                                                                     2,500                    -
   Insurance expense                                                                    3,727                    -
   Depreciation and amortization expense                                                6,441                9,586
   Travel and entertainment expense                                                     2,382                    -
   Rent expense                                                                         5,925                    -
   Office expense                                                                       4,209                    -
   Salary expense and payroll taxes                                                    24,158                    -
   Other general and administrative expenses                                            3,900               47,610
                                                                                -------------         ------------
         Total selling, general and administrative expenses                           387,834              181,805
                                                                                -------------         ------------
LOSS FROM OPERATIONS                                                                 (376,756)            (181,805)
                                                                                -------------         ------------

OTHER INCOME (EXPENSE)
   Interest income                                                                         96                    -
   Interest expense                                                                    (3,006)             (10,629)
   Other Income                                                                             -                1,935
                                                                                -------------         ------------
         Total other income (expense)                                                  (2,910)              (8,694)
                                                                                -------------         ------------

LOSS BEFORE PROVISION FOR INCOME TAXES                                               (379,666)            (190,499)

PROVISION FOR INCOME TAXES                                                                  -                    -
                                                                                -------------         ------------
NET LOSS                                                                        $    (379,666)        $   (190,499)
                                                                                =============         ============

LOSS PER SHARE                                                                  $       (0.00)        $      (0.01)
                                                                                =============         ============
Weighted average number of shares outstanding                                     746,360,000           12,895,000
                                                                                =============         ============
</TABLE>

The accompanying notes are an integral part of the financial statement

                                      -4-

<PAGE>

                                 SHARECOM, INC.
                 STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIENCY)

<TABLE>
<CAPTION>
                                                     Common Stock                Additional
                                              ----------------------------        Paid-in        Accumulated
                                                 Shares          Capital          Capital          Deficit            Total
                                              -------------    -----------     -------------   --------------      ------------
<S>                                           <C>              <C>             <C>             <C>                <C>
Balance, December 31, 2001                     711,360,722      $ 711,361       $35,604,139     $(36,397,476)       $ (81,976)

Net Loss for the three months ended
March 31, 2002 (unaudited)                               -              -                 -         (379,666)        (379,666)

Issuance of stock options (unaudited)                    -              -           330,020                -          330,020

Exercise of stock options (unaudited)           35,000,000         35,000           (15,020)               -           19,980
                                               -----------      ---------       -----------     ------------        ---------
Balance, March 31, 2002 (unaudited)            746,360,722      $ 746,361       $35,919,139     $(36,777,142)       $(111,642)
                                               ===========      =========       ===========     ============        =========
</TABLE>

The accompanying notes are an integral part of the financial statement

                                       -5-

<PAGE>

                                 SHARECOM, INC.
                      STATEMENTS OF CASH FLOWS (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                 For the three months ended
                                                                              March 31, 2002    March 31, 2001
                                                                              --------------    --------------
<S>                                                                           <C>               <C>
CASH FLOW FROM OPERATING ACTIVITIES
     Net loss                                                                 $     (379,666)   $     (190,499)
     Adjustments to reconcile net loss to net cash
          (used in) provided by operating activities:
                Depreciation and amortization expense                                  6,441             9,586
                Issuance of stock options for services                               330,020                 -
     Changes in certain assets and liabilities:
          (Increase) decrease in accounts receivable                                 (25,235)                -
          (Increase) decrease in inventory                                           (51,715)                -
          Increase in other assets                                                         -           134,101
          Increase (decrease) in accounts payable and accrued expenses                (2,853)            2,486
                                                                              --------------    --------------
Total cash used in operating activities                                             (123,008)          (44,326)
                                                                              --------------    --------------
CASH FLOWS FROM INVESTING ACTIVITIES
          Increase in intangible assets                                                    -             3,363
                                                                              --------------    --------------
Total cash used in investing activities                                                    -            (3,363)
                                                                              --------------    --------------
CASH FLOWS FROM FINANCING ACTIVITIES
          Payments on convertible note payable                                       (13,756)                -
          Increase (decrease) in due to related party                                 48,110            48,267
          Exercise of stock options                                                   19,980                 -
                                                                              --------------    --------------
Total cash provided by financing activities                                           54,334            48,267
                                                                              --------------    --------------
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS                                      (68,674)              578

CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD                                       68,688                 -
                                                                              --------------    --------------

CASH AND CASH EQUIVALENTS - END OF PERIOD                                     $           14    $          578
                                                                              ==============    ==============
CASH PAID DURING THE PERIOD FOR:
           Interest expense                                                   $        3,006    $       10,629
                                                                              ==============    ==============
           Income taxes                                                                    -                 -
                                                                              ==============    ==============
</TABLE>


NON-CASH FINANCING ACTIVITIES

During the three month period ended March 31, 2002, the company issued
35,000,000 options to purchase the company's common stock at $0.0006 per common
shares for services. These options were converted during the period. The company
incurred $330,020 in consulting expense relating to the options. (see note 6 -
Stock Options)

The accompanying notes are an integral part of the financial statement

                                       -6-

<PAGE>

                                 SHARECOM, INC.
                          NOTES TO FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements have been prepared in accordance with
accounting principles generally accepted in the United States of America for
interim financial information and with the instructions to Form 10-QSB and
Regulation S-B. Accordingly, they do not include all of the information and
footnotes required by accounting principles generally accepted in the United
States of America for complete financial statements. In the opinion of
management, all adjustments (consisting only of normal recurring adjustments)
considered necessary for a fair presentation have been included.

For further information, refer to the financial statements and footnotes
included in Form 10-KSB for the year ended December 31, 2001.

The result of operations for the three month period ended March 31, 2002 and
March 31, 2001 are not necessarily indicative of the results to be expected for
the full year.

Nature of Operations

The accompanying financial statements include the accounts of ShareCom, Inc.
(the "Company"), formerly known as Anonymous Data Corporation ("ANYD").

Line of Business

The Company is an Internet e-commerce company selling electronic products to end
consumers through its 2WayTalk.com web site and its WeatherRadios.com website.

Use of Estimates

The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America 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 revenue and expenses during
the periods presented. Actual results could differ from those estimates.

Revenue Recognition

Revenue is recognized based upon the accrual method of accounting. Revenue is
recorded at the time of the sale, usually upon shipment of the product.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with original
maturities of three months or less to be cash equivalents.

Concentration of Credit Risk

The Company places its cash in what it believes to be credit-worthy financial
institutions. However, cash balances may exceed FDIC insured levels at various
times during the year.

                                       -7-

<PAGE>

                                 SHARECOM, INC.
                          NOTES TO FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Inventory

Inventory is stated at the lower of cost or market utilizing the first-in,
first-out method ("FIFO"). Inventory consists mainly of finished goods.

Property and Equipment

Property and equipment is stated at cost. Depreciation is computed using the
straight-line method based upon the estimated useful lives of the various
classes of assets.

Intangible Assets

Intangible assets consist of the Company's costs for the purchase of its domain
names. The costs are being amortized over their estimated useful lives of three
years. The Company periodically reviews the recoverability of the asset in
accordance with SFAS 141, "Accounting for the Impairment or disposal of
long-lived assets." The Company believes the asset is fully recoverable at March
31, 2002.

Income Taxes

Income taxes are provided for based on the liability method of accounting
pursuant to Statement of Financial Accounting Standards ("SFAS") No. 109,
"Accounting for Income Taxes". The liability method requires the recognition of
deferred tax assets and liabilities for the expected future tax consequences of
temporary differences between the reported amount of assets and liabilities and
their tax basis.

Advertising Costs

Advertising costs are expensed as incurred and included in selling, general and
administrative expenses


Fair Value of Financial Instruments

The Company's financial instruments consist of cash, accounts receivable,
inventory, accounts payable and accrued expenses. The carrying amounts of cash,
accounts receivable and accounts payable and accrued expenses approximate fair
value due to the highly liquid nature of these short-term instruments.

Long-Lived Assets

SFAS No. 144. "Accounting for the Impairment or Disposal of Long-Lived Assets"
provides a single accounting model for long-lived assets to be disposed of and
replaces SFAS No. 121 "Accounting for the Impairment of Long-Lived Assets and
Long-Lived Assets to be Disposed of." The company has adopted this statement and
has determined that recognition of an impairment loss for applicable assets of
continuing operations is not necessary.

Stock-Based Compensation

The Company has adopted the intrinsic value method of accounting for stock-based
compensation in accordance with Accounting Principles Board Opinion No. 25,
"Accounting for Stock Issued to Employees", and related interpretations. The
Company has adopted only the disclosure provisions for SFAS No. 123, "Accounting
for Stock-Based Compensation," for equity instruments issued to employees. The
Company applies all of the provisions of SFAS No. 123 to equity instruments
issued to other than employees.

                                       -8-

<PAGE>

                                 SHARECOM, INC.
                          NOTES TO FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Comprehensive Income

SFAS No. 130, "Reporting Comprehensive Income" establishes standards for the
reporting and display of comprehensive income and its components in the
financial statements. As of March 31, 2002, the Company has no items that
represent comprehensive income and, therefore, has not included a schedule of
comprehensive income in the financial statements.

Computer Software Costs

The American Institute of Certified Public Accountants' Executive Committee
issued Statement of Position Number 98-1 (SOP 98-1), "Accounting for the Cost of
Computer Software Developed or Obtained for Internal Use". The Company has
adopted this statement to all software developed or obtained for internal use.

Business Combinations

Statement of Financial Accounting Standards ("SFAS") No. 141, "Business
Combinations", was approved by the Financial Accounting Standards Board
("FASB"). SFAS 141 requires that the purchase method of accounting be used for
all business combinations initiated after June 30, 2001. Goodwill and certain
intangible assets will remain on the balance sheet and not be amortized. On an
annual basis, and when there is reason to suspect that their values have been
diminished or impaired, these assets must be tested for impairment, and
write-downs may be necessary. The Company has adopted SFAS No. 141 effective
January 1, 2002.

Goodwill

SFAS No. 142, "Goodwill and Other Intangible Assets", was approved by the FASB.
SFAS No. 142 changes the accounting for goodwill from an amortization method to
an impairment-only approach. Amortization of goodwill, including goodwill
recorded in past business combinations, will cease upon adoption of this
statement. The Company has adopted SFAS No. 142 effective January 1, 2002.

Loss per share

SFAS No. 128, "Earnings Per Share" requires presentation of basic loss per share
("Basic LPS") and diluted loss per share ("Diluted LPS"). The computation of
basic loss per share is computed by dividing loss available to common
stockholders by the weighted-average number of outstanding common shares during
the period. Diluted LPS gives effect to all dilutive potential common shares
outstanding and all shares held in treasury during the period. The computation
of diluted LPS does not assume conversion, exercise of securities that would
have an anti-dilutive effect on losses.

The shares used in the computation of loss per share were as follows:

                                                    March 31
                                             -----------------------
                                                2002         2001
                                             -----------  ----------

Basic and diluted                            746,360,000  12,895,000
                                             ===========  ==========

                                       -9-

<PAGE>

                          NOTES TO FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Recent Accounting Announcements

During August 2001, SFAS No. 143, "Accounting for Asset Retirement Obligation"
was issued. SFAS NO. 143 is effective for fiscal years beginning after June 15,
2002, and will require companies to record a liability for asset retirement
obligations in the period in which they are incurred, which typically could be
upon completion or shortly thereafter. The FASB decided to limit the scope to
legal obligation and the liability will be recorded at fair value. The effect of
adoption of this standard on Company's results of operations and financial
position is being evaluated.

NOTE  2 - RELATED PARTY TRANSACTIONS

The Company has related party transactions with several officers, directors and
other related parties.

a) Office and Administrative Expense. A stockholder provided office services for
$1,000 per month through November 30, 2001. The cost of these office services,
totaling $0 and $1,935 at March 31, 2002 and 2001, respectively, have been
recorded in the statement of operations, with a corresponding contribution to
capital.

b) Due to Related Parties As of March 31, 2002, the Company has a payable due to
an officer totaling $92,428. This amount represents advances made to the Company
by its Chief Executive Officer ("CEO") for various expenses. This payable bears
interest at the rate of 5% per annum.

On January 8, 2002, the Company's Chief Executive Officer obtained two loans of
$40,000 each, for a total of $80,000, from outside third parties. These loans
were each secured by 65,000,000 shares of the Company's common stock, for a
total of 130,000,000 shares. The CEO subsequently advanced this money to the
company. This advance bears interest at the rate of 5% per annum. During the
month of March 2002, the third party lenders declared a default on their loans
and took possession of and registered the 130,000,000 shares of common stock.

NOTE 3 - PROPERTY AND EQUIPMENT

Property and equipment is summarized as follows:

<TABLE>
<CAPTION>
                                                                    March 31, 2002              December 31, 2001
                                                                 -------------------         --------------------
             <S>                                                 <C>                          <C>
             Computer hardware and equipment                     $            23,580          $            23,580
             Computer software                                                24,660                       24,660
             Furniture an equipment                                            1,574                        1,574
                                                                --------------------         --------------------
                                                                              49,814                       49,814
                                                                             (23,537)                     (20,208)
             Less:  Accumulated depreciation                    --------------------         --------------------
                                                                 $            26,277          $            29,606
             Property and equipment, net                        ====================         ====================
</TABLE>

Depreciation expense for the period ended March 31, 2002 was $3,329.

                                      -10-

<PAGE>

                                 SHARECOM, INC.
                          NOTES TO FINANCIAL STATEMENTS

NOTE 4 - CONVERTIBLE NOTE PAYABLE

On October 12, 2001, the Company executed a 10% Convertible Promissory Note
("Promissory Note") in the sum of $100,000. According to the terms of the
Promissory Note, interest on the unpaid principal balance shall accrue at the
rate of 10% per annum compounded monthly, and shall be payable monthly on the
first of each month beginning on November 1, 2001 and continuing through January
1, 2002. Thereafter, said principal and interest shall be repaid over a three
year period in equal consecutive monthly installments with the first monthly
installment of $3,226.72 due on February 1, 2002 and monthly installments due on
the first day of each month thereafter, with the entire unpaid balance due and
payable on or before January 1, 2003. The Company has no right of prepayment of
the Promissory Note.

The Promissory Note may be converted into Common Stock of the Company, in whole
or in part, at any time prior to the maturity date (January 1, 2003). The
Promissory Note is convertible into the number of shares of Common Stock that
represents a 10% ownership of the common stock of the Company that is issued and
outstanding as of the date of conversion multiplied by a fraction, the numerator
of which shall be the outstanding principal balance and all accrued and unpaid
interest on the Note which is intended to be converted and the denominator of
which shall be $100,000 provided however, any shares of Common Stock sold after
the date hereof at a consideration of at least $0.15 per share shall not be
deemed to be issued and outstanding for purposes of this calculation.

In addition to the terms set forth above, the Company agreed to Certain
Covenants of which some are described below:

Certain Covenants

The Company covenants and agrees that, so long as this Note remains outstanding
and unpaid, in whole or in part, the Company:

a) shall permit her designee from time to time to attend the Company's Board of
Director's meetings in a non-voting capacity;

b) shall not take any action to cause any amendment, alteration or repeal of any
of the provisions of (A) the Certificate of Incorporation or (B) the By-Laws, in
any respect which directly or indirectly adversely affects the rights of the
holder;

c) shall not authorize, create or issue any additional shares of capital stock
or rights, options, warrants or other securities convertible into or exercisable
or exchangeable for capital stock without the prior written consent of the
holder which consent may be withheld in the sole and absolute discretion of the
holder, provided however, the Company may sell additional shares of its common
stock at a minimum of $0.08 per share without the prior consent of the holder;

d) shall neither increase the salaries of any employee of the Company nor pay to
any employee accrued, but unpaid compensation (notwithstanding the foregoing,
the Company may pay to any employee the compensation then due for services
actually rendered after the date of this Note);

e) shall promptly upon the occurrence of a condition or event which is, to the
best knowledge and belief of the Company's President, an Event of Default or of
any condition or event which, with notice or lapse of time or both, would
constitute, to the best knowledge and belief of the Company's President, an
Event of Default, furnish a statement of the Company and of the Company's
President to the holder setting forth the details of such Event of Default or
condition or event and the action which the Company intends to take with respect
thereto.

Defaults

a) any failure to pay when due any principal hereof or interest hereon, or any
breach by the Company of any of its other obligations or covenants under this
note, provided that the Company shall have ten days from the date of receipt of
any notice of its failure to perform any of its other obligations or covenants
under this Note not involving the payment of money to holder within which to
cure said failure (in which case it shall not be an Event of Default) or b) the
Company (A) becomes insolvent or admits in writing its inability to pay its
debts as they mature, (B) makes any assignment for the benefit of creditors, or
(C) applies for or consents to the appointment of a receiver or trustee for the
Company or for a substantial part of the Company's property or business, or a
receiver or trustee otherwise is appointed (for purposes of this subsection, the
Company shall be deemed "insolvent" if it is unable to pay its debts as they
come due); or

                                      -11-

<PAGE>

                                 SHARECOM, INC.
                          NOTES TO FINANCIAL STATEMENTS

NOTE 4 - CONVERTIBLE NOTE PAYABLE (CONTINUED)

c) any bankruptcy, insolvency, reorganization or liquidation proceeding or other
proceeding for relief under any bankruptcy law or any law for the relief of
debtors is instituted by or against the Company and if instituted against the
Company, shall not have been dismissed within 60 days of being instituted; or d)
any money judgement, lien, writ or warrant of attachment, or similar process is
entered or filed against the Company or any of the assets of the Corporation and
remains unvacated, unbounded, unstayed, undismissed or undischarged for a period
of 15 days.

Remedies

Upon the occurrence and during the continuance of an Event of Default described
above, the holder, at her option, may:

a) declare all indebtedness under this Note immediately due and payable and
credit any sums received thereafter to such indebtedness in whatever priority
she shall elect; provided however, that such application of sums so received
shall not serve to waive or cure any default existing under this Note nor to
invalidate any notice of default or any act done pursuant to such notice and
shall not prejudice any rights of holder; and b) declare that from and after the
date of such Event of Default the interest rate shall be 18% per annum,
compounded annually, so long as any portion of the principal and interest due on
the Note remains unpaid; and c) exercise any or all rights provided or permitted
by law or granted pursuant to this Note in such order and in such manner as the
holder may, in sold judgement, determine, including without limiting her
continuing right to convert this Note to common stock.

On March 6, 2002, the noteholder informed the company that due to the violation
of the covenants, the Note is in default and interest should accrue at the
default rate of 18%

NOTE 5 - COMMITMENTS AND CONTINGENCIES

The Company rents space under an operating lease entered into on December 1,
2001. The Company's future minimum annual aggregate rental payments for office
space required under operating leases that have initial or remaining
non-cancelable lease terms in excess of one year are as follows:

                       2002            $ 17,775
                       2003            $ 24,648
                                  -------------
                                       $ 42,423

Rent expense under operating leases for the period ended March 31, 2002 and
2001, was $5,925 and $1,935 respectively.

Consulting Agreement

On January 4, 2002, the Company entered into a consulting agreement to render
various business services to the Company. The agreement is for a term of 12
months ending on January 31, 2003. As compensation, the Company granted the
consultant the option to purchase 35,000,000 shares of the Company's common
stock at an exercise price of $0.003 per share, which expires on January 4,
2007. (See Note 6 - Stock Options) The value of the options as of the grant date
was $330,020.

Legal Proceedings

During January 2002, the Company became the subject of inquiries from both the
United States Securities and Exchange Commission and the Division of Securities
of the State of Georgia relating to certain information about the Company that
was faxed and e-mailed by the Company's public relations firm to members of the
financial marketplace. The company has responded to each of these inquiries and
believes that it has addressed the concerns of both agencies.

                                      -12-

<PAGE>

                                 SHARECOM, INC.
                          NOTES TO FINANCIAL STATEMENTS

NOTE 6 - STOCKHOLDERS' EQUITY

Authorized Common Stock

The aggregate number of shares of common stock that the Company has authority to
issue is 750,000,000 shares at a par value of $0.001 as of March 31, 2002.

Common Stock Issuances

On January 4 , 2002, the Company issued 35,000,000 options at $0.003 to a
consultant. On January 4, 2002, these options were exercised and $330,020 of
consulting expense was recognized during the period.

Stock Options

On January 4, 2002, the Company issued 35,000,000 options to purchase shares of
the Company's common stock at an exercise price of $0.003 per share in relation
to a consulting agreement. The Company recognized an expense totaling $330,020
relating to the issuance. On January 4, 2002, these options were exercised for
$19,980.

NOTE 7 - INCOME TAXES

The components of the provision for income taxes are as follows:

                                                          December 31,
                                             -----------------------------------
                                                  2002                2001
                                             ----------------    ---------------
Current Tax Expense

    U.S. Federal                             $              -    $             -
    State and Local                                         -                  -
                                             ----------------    ---------------
Total Current                                               -                  -
                                             ----------------    ---------------

Deferred Tax Expense

    U.S. Federal                                            -                  -
    State and Local                                         -                  -
                                             ----------------    ---------------
Total Deferred                                              -                  -
                                             ----------------    ---------------

Total Tax Provision (Benefit) from

  Continuing Operations                      $              -    $             -
                                             ================    ===============

                                      -13-

<PAGE>

                                 SHARECOM, INC.
                          NOTES TO FINANCIAL STATEMENTS

NOTE 7 - INCOME TAXES (CONTINUED)


The reconciliation of the effective income tax rate to the Federal statutory
rate is as follows for the period ended March 31, 2002 and 2001

Federal Income Tax Rate                 (34.0)%
Effect of Valuation Allowance            34.0%
                                  -----------
Effective Income Tax Rate                 0.0%
                                  ===========


At March 31, 2002, the Company had net carryforward losses of approximately
$36,777,142. Because of the current uncertainty of realizing the benefit of the
tax carryforwards, a valuation allowance equal to the tax benefit for deferred
taxes has been established. The full realization of the tax benefit associated
with the carryforwards depends predominantly upon the Company's ability to
generate taxable income during the carryforward period.

Deferred tax assets and liabilities reflect the net tax effect of temporary
differences between the carrying amount of assets and liabilities for financial
reporting purposes and amounts used for income tax purposes. Significant
components of the Company's deferred tax assets and liabilities are as follows:

                                              March 31,
                                          ----------------
                                                2002
                                          ----------------
Deferred Tax Assets

    Loss Carryforwards                    $     12,504,228
    Less:  Valuation Allowance                 (12,504,228)
                                          ----------------
Net Deferred Tax Assets                   $              -
                                          ================


Net operating loss carryforwards expire starting in 2007 through 2020. Per year
availability is subject to change of ownership limitations under Internal
Revenue Code Section 382.

NOTE 8 - GOING CONCERN

The accompanying financial statements have been prepared in conformity with
accounting principles generally accepted in the United States of America, which
contemplate continuation of the Company as a going concern. As of March 31,
2002, the Company has a working capital deficit of $153,482 and has incurred a
substantial operating losses since its inception. These factors raise
substantial doubt about the Company's ability to continue as a going concern.
Management has begun taking the following actions to improve their financial
condition:
     a)   the Company is seeking additional equity financing. There can be no
          assurances that sufficient financing will be available on terms
          acceptable to the Company or at all.
     b)   the Company is seeking possible merger and acquisition candidates.
Management believes that actions presently being taken to revise the Company's
operating and financial requirements provide the opportunity for the Company to
continue as a going concern.

                                      -14-

<PAGE>

                                 SHARECOM, INC.
                          NOTES TO FINANCIAL STATEMENTS

NOTE 9 - SUBSEQUENT EVENTS

Mr. Brad Nordling, the Company's president and principal stockholder, entered
into an agreement to sell all of his shares of common stock in the company to an
unaffiliated third party. Mr. Nordling holds 432,551,000 shares representing
approximately 58% of the issued and outstanding shares of the company. This
transaction is expected to close on or about May 15, 2002 and will result in a
change of control of the company.

The Company also expects to enter into an Asset Purchase Agreement with USAlert,
Inc., an Illinois corporation ("USAI"), which provide for USAI to purchase
substantially all of the assets and business of the Company. Mr. Nordling is the
president of both the Company and USAI. This transaction is expected to close on
or before May 15, 2002. If the asset purchase is consummated, the Company will
have no current business operations. It is expected that USAI will operate the
business of the Company on a private basis. The consideration for the asset
transfer is Mr. Nordling's forgiveness of his loans to Company of approximately
$97,201 and the assumption of approximately $60,000 of SHCC's accounts payable.

Forward-Looking Statements

This Quarterly Report on Form 10-QSB contains forward-looking statements made
pursuant to the safe harbor provisions of the Securities Litigation Reform Act
of 1995. These forward-looking statements are based largely on the Company's
expectations and are subject to a number of risks and uncertainties, many of
which are beyond the Company's control, including, but not limited to, economic,
competitive and other factors discussed elsewhere in this report and the
documents filed by the Company with the Securities and Exchange Commission.
Actual results could differ materially from these forward-looking statements. In
light of these risks and uncertainties, there can be no assurance that the
forward- looking information contained in this report will in fact prove
accurate. The Company does not undertake any obligation to revise these
forward-looking statements to reflect future events or circumstances.

                                      -15-

<PAGE>

                                 SHARECOM, INC.
                              FOR THE QUARTER ENDED
                                 MARCH 31, 2002

Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operation

ShareCom, Inc. ("SHCC"), is a Nevada corporation formerly known as Anonymous
Data, founded in 1996. SHCC is the successor to a corporation founded in 2001 by
Brad Nordling as ShareCom, Inc, an Illinois corporation. SHCC is an importer and
distributor, based in Palatine, IL, for a complete line of NOAA Weather Radio
products, CB Radios, and other 2-way radio products.

SHCC began operations in 1994 as a sole proprietorship named Shared Computer
Services. The business began with Local Area Network (LAN) installations and
upgrades. The Company also became involved in the design and development of
Internet web sites for various organizations. SHCC's first e-commerce web site,
2WayTalk.com, became operational in 1998 and has been generating revenue since
then. Subsequent web sites including WeatherRadios.com, CBRadios.com, and
WalkieTalkies.com have been generating revenues since 2000.

In July 2001, SHCC completed a reverse acquisition with Anonymous Data, Inc., a
public, reporting company founded in 1996. On the same date, Anonymous Data,
Inc. changed its name to ShareCom, Inc. and moved its headquarters to Palatine,
IL. The transaction was structured as a share exchange in which Brad Nordling
exchanged all of his shares in the privately held SHCC for 12,551,000 common
shares of Anonymous Data, Inc. The corporate relationships are the result of
transactions in 2001, through which SHCC became the reporting, trading,
development stage Nevada Corporation with shares publicly traded on the NASDAQ
Bulletin Board.

Results of Operation

For the period ended March 31, 2002 compared to the period ended March 31, 2001.

SHCC had no revenues during the period ended March 31, 2001 as the Company was
still in the research and development stage. For the period ended March 31,
2002, SHCC had net revenues of $32,731 (principally from the sale of Weather
Radios and ancillary products). The revenues for the period were limited by the
company's not being able to take delivery of product from its overseas supplier
because of a shortage of working capital.

The net revenue of $32,731 less the cost of goods of $21,653, resulted in a
gross profit of $11,078 or 33.8%. This represents an improvement of 27.1% from
the gross profit percentage of 6.7% for the year ended December 31, 2001. This
is the result of improved pricing policies and reduced product costs.

The increase in gross profit less total selling, general and administrative
expenses of $387,834, which was an increase of $206,029 from total selling,
general and administrative expense for the period ended March 31, 2001 of
$181,805, resulted in a loss from operations of $376,756 for the period ended
March 31, 2002, which was an increase in loss of $194,951 from $181,805 for the
period ended March 31, 2001.

During the period ended March 31, 2002, SHCC issued 35,000,000 common shares as
compensation to various consultants and professionals. Under GAAP, SHCC is
required to record these amounts as compensation expense based on the market
price of SHCC shares on the date of issuance, net of any cash proceeds. As a
result, SHCC recorded $330,020 in non-cash compensation, which has been
reflected as consulting fees (collectively "Non-Cash Compensation").

Selling, General and Administrative Expenses

Total selling, general and administrative expense increased from $181,805 for
the period ended March 31, 2001 to $387,834 for the period ended March 31, 2002,
for an overall increase of $205,729. The increase consisted primarily of the
$330,020 of non-cash compensation to outside consultants. This increase was
offset by a decrease in research and development expenses of $124,609, from
$124,609 to $0 in 2002. The research and development expense incurred in 2001
related to the operation and contemplated line of business of Anonymous Data,
Inc. prior to the merger with SHCC in July 2001.

As Anonymous Data, Inc., the Company recorded operating expense other than
research and development and depreciation as other general and administrative
expense. Total other general and administrative expense in 2001 was $47,610. For
2002, these expenses were changed to various expense categories. These expenses
totaled $51,373 in 2002, for an increase of $3,763.

<PAGE>

The level of non-cash compensation, which was reflected in 2001, is not expected
to be a recurring item in future periods because the funding requirements and
organizational and planning issues requiring outside consultants have generally
been satisfied. SHCC anticipates that other increases will moderate in future
periods as management gains experience overseeing a publicly held enterprise and
is able to manage and predict those costs and needs more effectively.

Interest Expense and Outstanding Loans

Interest expense decreased from $10,629 in 2001 to $3,006 in 2002, for a net
decrease of $7,623. The decrease is the result of a change in SHCC's debt
structure as related to that of Anonymous Data, Inc.

Liquidity and Capital Resources

The balance of cash and cash equivalents at March 31, 2002 was $14, which was a
decrease of $68,674 from the balance at December 31, 2001 of $68,688. The
decrease in cash was principally the result of an increase in accounts
receivable and inventory of $25,235 and $51,715, respectively; cash used in
operating activities of $43,200 and payments on the convertible note payable of
$13,756. These were offset by an increase in amounts advanced by related parties
of $48,110 and the proceeds from the exercise of stock options of $19,980.

The decrease in cash of $68,674 and the increase in accounts receivable and
inventory of $25,235 and $51,715, respectively, resulted in an increase in
current assets of $8,276.

Total current liabilities increased by $31,501 from December 31, 2001 to March
31, 2002, principally the result of an increase in amounts due to related
parties of $48,110, offset by payments on the convertible note payable of
$13,756.

During the period ended March 31, 2002, SHCC issued 35,000,000 common shares
upon the exercise of stock options. The exercise of stock options resulted in
cash proceeds of $19,980 and non-cash compensation of $330,020 for a total
increase in capital of $350,000. The cash proceeds received, together with the
non-cash compensation and the operating loss for the period resulted in a total
stockholder's deficit of $111,642 at March 31, 2002, compared to total
stockholder's deficit at December 31, 2001 of $81,976.

The additional capital received as cash was applied to meet working capital
requirements.

Management is currently pursuing various initiatives to expand SHCC's operations
internally and through strategic alliances or acquisitions with other industry
partners. These endeavors will require additional capital funding which SHCC
hopes to raise through debt or equity financing arrangements, if appropriate
financing is available, on reasonable and acceptable terms. SHCC intends to
continue to seek additional working capital to meet its operating requirements
and to provide further capital for expansion, acquisitions or strategic
alliances with businesses that are complementary to SHCC's long-term business
objectives.

Accounting Matters

The Financial Accounting Standards Board ("FASB") periodically issues accounting
standards, which may affect the financial accounting or disclosures of the
Company. There are no accounting standards that have been issued, but not yet
adopted by the Company, which would have a material effect on the financial
position or results of operation of the Company.

<PAGE>

                                 SHARECOM, INC.
                              FOR THE QUARTER ENDED
                                 MARCH 31, 2002

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

During January 2002, the Company became the subject of inquiries from both the
United States Securities and Exchange Commission and the Division of Securities
of the State of Georgia relating to certain information about the Company that
was faxed and e-mailed by the Company's public relations firm to members of the
financial marketplace. The company has responded to each of these inquiries and
believes that it has addressed the concerns of both agencies.

Item 2. Change in Securities.

None

Item 3. Defaults by the Company upon its Senior Securities.

None

Item 4. Submission of Matter to a Vote of Security Holders.

None

Item 5. Other Information.

Mr. Brad Nordling, the Company's president and principal stockholder, entered
into an agreement to sell all of his shares of common stock in the company to an
unaffiliated third party. Mr. Nordling holds 432,551,000 shares representing
approximately 58% of the issued and outstanding shares of the company. This
transaction is expected to close on or about May 15, 2002 and will result in a
change of control of the company.

The Company also expects to enter into an Asset Purchase Agreement with USAlert,
Inc., an Illinois corporation ("USAI"), which provide for USAI to purchase
substantially all of the assets and business of the Company. Mr. Nordling is the
president of both the Company and USAI. This transaction is expected to close on
or before May 15, 2002. If the asset purchase is consummated, the Company will
have no current business operations. It is expected that USAI will operate the
business of the Company on a private basis. The consideration for the asset
transfer is Mr. Nordling's forgiveness of his loans to Company of approximately
$97,201 and the assumption of approximately $60,000 of SHCC's accounts payable.

Item 6. Exhibits and Reports of Form 8-K.

None

                                   SIGNATURES

                              By: /s/ Brad Nordling

                                  Brad Nordling

                                    President