FORM 10-KSB

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

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

                    For the fiscal year ended: June 30, 1998

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

                         Commission file number: 0-13910

                          THE FURIA ORGANIZATION, INC.
               ---------------------------------------------------
             (Exact name of registrant as specified in its charter)


          DELAWARE                                             95-3931129
--------------------------------                          --------------------
 (State or other Jurisdiction                                (IRS Employer
of incorporation or organization                           Identification No.)


5030 Champion Blvd. G6#237, Boca Raton, Florida                  33496
-----------------------------------------------                ----------
(Address of principal executive offices)                       (Zip Code)


                    Issuer's telephone number: (561) 241-4713


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

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

                                  Common Stock
                                ----------------
                                (Title of Class)

                                       1
<PAGE>

Check whether the issuer (1) filed all reports required to be filed by Sections
13 or 15(d) of the Exchange Act, during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such requirement for the past 90 days.

(1) Yes [ ] No [X] (2) Yes [X]  No [ ]

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

Registrant's revenues for the year ended June 30, 1998:  $0.00

There are no recent quotes available for the Registrant's common stock.
Accordingly, the Registrant is unable to determine the aggregate market value of
the voting stock held by non-affiliates of the Registrant as of any recent date.

The number of shares outstanding of common stock as of September 1, 2002 was
41,714,209. There was no established published market value for the Registrant's
stock during the last fiscal year and there were no published bid and asked
prices.

                                       2
<PAGE>

PRIVATE SECURITIES LITIGATION REFORM ACT SAFE HARBOR STATEMENT

When used in this Annual Report on Form 10-KSB, the words "may," "will,"
"expect," "anticipate," "continue," "estimate," "intend," and similar
expressions are intended to identify forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 regarding events, conditions and financial
trends which may affect the Company's future plans of operations, business
strategy, operating results and financial position. Such statements are not
guarantees of future performance and are subject to risks and uncertainties and
actual results may differ materially from those included within the
forward-looking statements as a result of various factors. Such factors include,
among others: (i) the Company's ability to obtain additional sources of capital
to fund continuing operations in the immediate term; (ii) the Company's ability
to retain existing or obtain additional licensees who act as distributors of its
products; (iii) the Company's ability to obtain additional patent protection for
its encapsulation technology; and (iv) other economic, competitive and
governmental factors affecting the Company's operations, market, products and
services. Additional factors are described in the Company's other public reports
and filings with the Securities and Exchange Commission. Readers are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date made. The Company undertakes no obligation to publicly
release the result of any revision of these forward-looking statements to
reflect events or circumstances after the date they are made or to reflect the
occurrence of unanticipated events.

                                       3
<PAGE>

                                     PART I

ITEM 1.  DESCRIPTION OF BUSINESS

         THE FURIA ORGANIZATION, INC. (the "Company"), was incorporated as
Furia, Oringer Productions, Inc. under the laws of the State of Delaware on June
26, 1984 for the purpose of writing and producing film and tape television
programs and theatrical motion pictures. In 1989 the Company transferred certain
entertainment properties to a former officer and director. In 1991, the Company
transferred and assigned its remaining entertainment properties, together with
the liabilities for residuals and participations relating to these properties,
to an entity that was not affiliated with the Company. In 1993, Madison
Fashions, Inc. a Delaware corporation ("Madison"), merged (the "Merger") with
and into a wholly owned subsidiary of the Company. Madison's principal asset,
which the Company acquired in the Merger, was 81% of the issued and outstanding
shares of Pat Fashions Industries, Inc., a Delaware corporation ("PFI"), and an
option to acquire the remaining 19% outstanding shares of PFI (the "Option").
PFI was in the wholesale distribution of popular-priced women's, girls, men's
and boys' wearing apparel. The Company managed PFI as an operating subsidiary
until April 1994 when PFI filed a Petition in Bankruptcy under Chapter 11
seeking the reorganization of PFI. The Chapter 11 was converted to a Chapter 7
proceeding and PFI was then liquidated. The Company has been seeking a merger or
combination candidate in any industry and has been inactive since May 1994.

         On March 6, 1998, the Company consummated a Stock Purchase Agreement
under the terms of which, amongst other things, the Company was to exchange an
aggregate of 75,000,000 shares of its Common Stock for all the issued and
outstanding capital shares of Americom Telecommunications Corporation ("ATC").
In connection with the consummation of the Stock Purchase Agreement, the then
sole Director of the Company, Waylon McMullen agreed to appoint Messrs. Paul
Stevens, James A. Stevens, Dr. Richard A. Feller, Ph.D, Filiberto Fernandez,
Michael Nunez-Ledo and Jorge T. Buces as members of the Board of Directors, in
each case to be effective ten days after delivery of written notice thereof to
the shareholders of the Company in accordance with Rule 14f-1 of the Securities
Exchange Act of 1934, as amended. Mr. McMullen further agreed to resign as a
Director of the Company but remain as President thereof, until his successor
could be appointed. After notice was duly given to shareholders as set forth
above, Mr. Paul Stevens accepted his appointment as a Director of the Company,
but Messrs. James A. Stevens, Dr. Feller, Fernandez, Nunez-Ledo and Buces did
not accept such appointments and never acted as Directors of the Company.

         ATC was, in fact, never activated nor operational. Moreover, requisite
capital was never raised in order to make ATC viable nor was ATC ever able to
make the acquisitions it represented were available when it was acquired by the
Company. Additionally shares to be delivered pursuant to the provisions of the
Stock Purchase Agreement were never delivered by either the Company or the
shareholders of ATC. Accordingly, on January 11, 2000, the Stock Purchase
Agreement, pursuant to written agreement, was rescinded, and the parties were
placed back into the position as if the Stock Purchase Agreement had never been
entered into. Paul Stevens resigned as a Director and Mr. McMullen resumed his
status as the sole Director. As a result of the foregoing, the Company is a
"blank check" or "shell" company.

                                       4
<PAGE>

Business Objectives

         The Company plans to seek one or more potential businesses that
Management believes warrant the Company's involvement. As a result of its
limited resources, the number of potential businesses available will be
extremely limited. The Company will not restrict its search to any particular
industry. Nevertheless, Management does not intend to become involved with a
company that is an investment company under the Investment Company Act of 1940;
with a company that is a broker or dealer of investment securities or
commodities; or with any company in which the officers, directors or
shareholders of the target company are officers or directors of the Company.
These business objectives are extremely general and are not intended to be
restrictive upon the discretion of Management. Except for the general
limitations contained above, management has not developed and does not intend to
develop specific criteria to be followed in the search for and selection of a
business acquisition. Shareholders will therefore have extremely limited
information as to Management's specific intentions and investors will be unable
to determine even the industries which management might consider.

         The target company may be (i) in its preliminary or developmental
stage, (ii) a financially troubled business or (iii) a going concern. It is
impossible to determine the capital requirements of the target business or
whether such business may require additional capital. Some target companies may
seek to establish a public trading market for their securities.

         The analysis of potential business endeavors will be undertaken by or
under the supervision of Management. Management will rely on its own business
judgment in evaluating businesses that the Company may acquire or participate.
See Item 9 - Directors, Executive Officers, Promoters and Control Persons.
Locating and investigating specific business proposals may take an extended
period of time. If a business is located, the negotiation, drafting, and
execution of relevant agreements, disclosure documents and other instruments
will require substantial time, effort, and expense. The time periods of these
subsequent steps cannot be determined. If a specific business endeavor cannot be
located the costs incurred in the investigation are not likely to be recovered.
The failure to consummate an attempted transaction would likely result in the
loss of the costs incurred.

         Shareholders of the Company are relying totally upon the business
judgment of Management. Shareholders will not likely be consulted or provided
any disclosure documentation in connection with any acquisition engaged in by
the Company, unless required by state corporate law or the Federal securities
laws. Although Management does not anticipate a sale of their Company shares in
connection with an acquisition, in the event Management does enter into an
agreement to do so, the remaining shareholders of the Company may not be
afforded an equal opportunity to do so. As Management intends to offer a
controlling interest in the Company, it is probable that a change of control
will occur as a result of an acquisition engaged in by the Company. To the best
knowledge of the Company, there are no lock-up agreements or understandings
between the Company and its shareholders or among the shareholders which has the
effect of restricting the transferability of any shareholders stock holdings.
There are no arrangements, agreements, or understandings between non-management
shareholders and management under which non-management shareholders may directly
or indirectly participate in or influence the management of the Company's
affairs, and there are no agreements concerning the election of members of the
Board of Directors.

                                       5
<PAGE>

         It is not presently anticipated that the Company will acquire or merge
with a business or company in which the Company's promoters, management or their
affiliates or associates directly or indirectly have an ownership interest,
however there is no agreement, policy, or understanding to prevent such a
transaction. In the event of such a non-arm's length transaction, Management
would seek an independent appraisal of the transaction. Notwithstanding the
foregoing, there is the potential that a conflict of interest will arise between
the Company and its management in which case Management's fiduciary duties may
be compromised. Any remedy available under state corporate law would, in such an
event, most likely be prohibitively expensive and time consuming.

         A number of states have enacted statutes, rules and regulations
limiting the sale of securities of blank check companies in their respective
jurisdictions. Some states prohibit the initial offer and sale as well as any
subsequent resale of securities of shell companies to residents of their states.
In such an event, the shareholders of the Company, as well as the shareholders
of any target company, may be limited in their ability to resell shares of the
Company. To the best knowledge of the Company, the following states may have
such limitations (this list is not exhaustive and a significant number of other
states may also have such limitations): Connecticut, Georgia, Oregon,
Washington, and Florida.

Competition

         Inherent difficulties exist for any new company seeking to enter an
established field. The Company will remain an insignificant participant among
the firms which engage in mergers with and acquisitions of privately financed
entities.

         There are many established venture capital and financial concerns which
have significantly greater financial and personnel resources, technical
expertise and experience than the Company. The Company is also subject to
competition from numerous other recently formed public and private entities with
business objectives similar to those of the Company.

Regulation

         The Investment Company Act of 1940 (Investment Act) defines an
investment company as an issuer which is or holds itself out as being engaged
primarily in the business of investing, reinvesting or trading of securities.
The Company does not intend to engage primarily in the activities of purchasing,
trading or selling securities and intends to conduct its activities so as to
avoid being classified as an investment company under the Investment Act. The
Company could be expected to incur significant registration and compliance costs
if required under the Investment Act, and the regulations promulgated
thereunder. Section 3(a) of the Investment Act provides exclusions from its
application for companies which are not primarily engaged in the business of
investing, reinvesting or trading in investment securities. Management intends
to implement its business plan in a manner which will result in the availability
of this exception from the definition of investment company. Accordingly,
Management will continue to review the Company's activities from time to time
with a view toward reducing the likelihood that the Company could be classified
as an investment company.

                                       6
<PAGE>

         The Company's plan of business may involve changes in its capital
structure, management, control, and business, especially if it consummates its
plan to acquire or merge with another entity. Each of these areas are regulated
by the Investment Act, which regulations have the purported purpose of
protecting purchasers of investment company securities. Since the Company will
not register as an investment company, its shareholders will not be afforded
these purported protections.

         Even if the Company restricts its activities as described above, it is
possible that it may be classified as an inadvertent investment company. This
would be most likely to occur if significant delays are experienced in locating
a business opportunity.

         The Company intends to vigorously resist classification as an
investment company and to take advantage of any exemptions or exceptions from
application of the Investment Act, including an exception which allows an entity
a one-time option during any three (3) year period to claim an exemption as a
transient investment company. The necessity of asserting any such contention, or
making any other claim of exemption, could be time consuming, costly or even
prohibitive, given the Company's limited resources.

         The Company intends to structure a merger or acquisition in such a
manner as to minimize Federal and state tax consequences to the Company and its
shareholders, and to any target company and its shareholders. Under Section 368
of the Internal Revenue Code of 1986, as amended (the Code), a statutory merger
or consolidation is an exempt transaction and may be tax free to the companies
and their shareholders if effected in accordance with state law. A tax free
reorganization may require the Company to issue a substantial portion of its
securities in exchange for the securities or assets of a target firm.
Consequently, a tax free reorganization may result in substantial dilution of
the ownership interests of the present shareholders of the Company. Even if a
merger or consolidation is undertaken in accordance with the Code, there is no
assurance that tax regulations will not change and result in the Company or its
shareholders incurring a significant tax liability.

         The Securities Enforcement and Penny Stock Reform Act of 1990 requires
additional disclosure relating to the market for penny stocks in connection with
trades in any stock defined as a penny stock. The Commission has adopted
regulations that generally define a penny stock to be any equity security that
has a market price of less than $5.00 per share, subject to certain exceptions.
Such exceptions include any equity security listed on Nasdaq and any equity
security issued by an issuer that has (i) net tangible assets of at least
$2,000,000, if such issuer has been in continuous operation for three years,
(ii) net tangible assets of at least $5,000,000, if such issuer has been in
continuous operation for less than three years, or (iii) average annual revenue
of at least $6,000,000, if such issuer has been in continuous operation for less
than three years. Unless an exception is available, the regulations require the
delivery, prior to any transaction involving a penny stock, of a disclosure
schedule explaining the penny stock market and the risks associated therewith.

                                       7
<PAGE>

Employees

         The Company presently has no employees other than its President, Martin
Cohen. Mr. Cohen is employed in another business, and therefore allocates a
minimal amount of time to the affairs of the Company.

ITEM 2.  DESCRIPTION OF PROPERTY

         The Company owns no real property. The Company's facility's leases were
terminated.

ITEM 3.  LEGAL PROCEEDINGS

         The Company is not involved in any material legal proceedings.

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

         No items were submitted to a vote of the Company's security holders
during the fiscal year ended June 30, 1998.

                                       8
<PAGE>

                                     PART II

ITEM 5.  MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

         There is currently no established trading market for the Company's
Common Stock. Trading in the Common Stock of the Company, which occurs from time
to time on the over-the-counter market, has been sporadic and quotations are
rarely published. Due to the infrequency of trades during the past three years,
the Company does not believe that there is an established public trading market
for its Common Stock.

         As of June 30, 1998, there were 639 holders of record of the Company's
Common Stock. There have been no dividends paid or declared since the inception
of the Company, and the Company's present financial condition does not permit
the payment of dividends. The Company cannot predict when, if at all, it will
commence payment of dividends.

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

Financial Condition

         The Company had no operations for fiscal year 1998. The expenses of the
Company, for the fiscal year ended June 30, 1998, consisting principally of
professional fees, transfer agent fees, franchise tax and registered agent's
fees were paid by Southcal Investments, Inc a Company then under the control of
Waylon McMullen, the Company's former President and current Director. In
reimbursement for payments made by Southcal Investments, Inc., for and on behalf
of the Company, The Company, on June 18, 1998 issued its Promissory Note to
Southcal Investments, Inc. in the sum of $33,315 bearing interest at 8% per
annum. The due date of the Note is June 20, 2003.

         Through December 2000 all expenses of the Company were borne by Waylon
McMullen. On December 21, 2000, the Company, in full satisfaction of any and all
claims Waylon McMullen had or may have against the Company for (1) money
expended on behalf of the Company (including but not limited to accounting fees,
taxes, and printing of stock certificates); and (2) legal services rendered as
attorney for the Company, the Board of Directors authorized the issuance of
3,000,000 shares of its common stock.

Subsequent Events

         On May 10, 2001, Mr. Martin Cohen was appointed President and elected a
Director of the Company to serve until his successor is elected and agrees to
serve.

                                       9
<PAGE>

         On December 21, 2000, in consideration of the services rendered and to
be rendered by RN Capitals Partners, Inc., in (1) negotiating, structuring and
finalizing the recession, nun pro tunc referred to above; (2) seeking and
negotiating with potential candidates interested in merging with the Company;
(3) putting the Company in compliance with its obligations as a 12G Company
under the Securities Exchange Act of 1934, as amended; and (4) paying and/or
assuming the payment of the Company's expenses, accrued and to be accrued,
(including but not limited to legal and accounting fees) in connection with
"cleaning up" the Company and bringing it in compliance with its obligations as
a 12G Company, the Board of Directors of the Company authorized and directed the
issuance of 13,500,000 shares of its Common Stock to RN Capital Partners.
To-date, RN Capital Partners has been satisfying the obligations of the Company.
Mr. Martin Cohen, President of The Furia Organization, Inc., is also the
President and Chief Operating Officer of RN Capital Partners, Inc.

         On September 3, 2002, The Company and Southcal Investments, Inc.,
agreed to satisfy the Promissory Note issued by the Company, on June 18, 1998,
in the principal amount of $33,315 by the issuance of 2,000,000 shares of the
Company's Common Stock. As of September 3, 2002, the Company was indebted to
Southcal Investments, Inc., in the sum of approximately $44,530, consisting of
the principal of the Promissory Note plus accrued interest of $11,215.

         As of the date hereof, the Company remains a "shell" company. The
Company plans to seek one or more potential businesses that Management believes
warrant the Company's involvement. As a result of its limited resources, the
number of potential businesses available will be extremely limited. The Company
will not restrict its search to any particular industry. Management has not
developed and does not intend to develop specific criteria to be followed in the
search for and selection of a business acquisition.

         The target company may be (i) in its preliminary or developmental
stage, (ii) a financially troubled business or (iii) a going concern. It is
impossible to determine the capital requirements of the target business or
whether such business may require additional capital. Some target companies may
seek to establish a public trading market for their securities.

         It is not presently anticipated that the Company will acquire or merge
with a business or company in which the Company's promoters, management or their
affiliates or associates directly or indirectly have an ownership interest,
however there is no agreement, policy, or understanding to prevent such a
transaction. In the event of such a non-arm's length transaction, Management
would seek an independent appraisal of the transaction.

ITEM 7.  FINANCIAL STATEMENTS

         Financial statements are included under Item 13(A) and may be found at
pages F-1 through F-8.

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

         On August 11, 2002, the Board of Directors elected to change
accountants. No disagreement existed between the Company and Weinberg & Company,
P.A. Reference is made to the Form 8-K filed by the Company with the Securities
and Exchange Commission on August 14, 2002.

                                       10
<PAGE>

                                    PART III

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

         As of September 6, 2002 the following were the Officers, Directors,
Promoters and Control Persons of the Company.

         Name                           Age                 Positions Held
         ----                           ---                 --------------

         Martin Cohen                   59             President and Director

         Waylon E. McMullen             56            Assistant Secretary and
                                                               Director

         On May 10, 2001, Mr. Martin Cohen was appointed President and elected a
Director of the Company to serve until his successor is elected and agrees to
serve. For the past Two (2) years, Mr Cohen has been President of RN Capital
Partners, Inc. ("RN") a, privately held, financial consulting company, directly
and indirectly, providing capital to individuals and publicly-held companies.
For the three (3) years prior thereto Mr. Cohen was President of Capital
Associates, a company engaged in a like business to that of RN Capital Partners.

         Mr. McMullen is a practicing attorney and has been President of Waylon
E. McMullen, P.C. a law firm, from 1991 until the present. Prior to that Mr.
McMullen was President of Akin & McMullen, P.C., a law firm, or its successors
from 1971.

         Section 16(a) of the Securities Exchange Act of 1934, as amended,
requires the Company's directors and executive officers and persons who own more
than ten percent (10%) of the Company's common stock to file with the Securities
and Exchange Commission (the "SEC") initial reports of ownership and reports of
changes in ownership of common stock and other equity securities of the Company.
Officers, directors and greater than ten percent (10%) shareholders are required
by SEC regulations to furnish the Company with copies of all Section 16(a)
reports they file. To the Company's knowledge, based solely on the review of the
copies of such reports filed during the fiscal year ended June 30, 1998, all
Section 16(a) filing requirements applicable to its officers, directors and
greater than ten percent (10%) beneficial owners were complied with.

ITEM 10. EXECUTIVE COMPENSATION

         The Company has not paid any compensation to any officer or director
during the period ending June 30, 1998.

                                       11
<PAGE>

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

         The following table sets forth certain information regarding the
ownership of Company common stock as of September 6, 2002, based on information
obtained from such persons, the Company's records and schedules required to be
filed with the Company, with respect to (i) each shareholder known by the
Company to own beneficially five percent (5%) or more of such outstanding Common
Stock, (ii) each current director and executive officer of the Company, and
(iii) all executive officers of the Company as a group. Except as otherwise
indicated below, each of the entities or persons named in the table has sole
voting and investment power with respect to all shares of common stock
beneficially owned.

Name and Address
of Beneficial Owner                  Number of Shares      Percent of Class (1)
-------------------                  ----------------      --------------------

RN Capital Partners, Inc. (2)            13,500,000                32%
5030 Champion Blvd., G6#237
Boca Raton, Florida 33496

Martin Cohen (2)                         13,500,000                32%
5030 Champion Blvd., G6#237
Boca Raton, Florida 33496

Time for a Change, Inc.(3)               13,351,449                32%
17309 Club Hill Dr.
Dallas, Texas 75248

Cheryl L. McMullen (3)(4)                13,351,449                32%
17309 Club Hill Dr.
Dallas, Texas 75248

Waylon E. McMullen (4)                    3,000,000                 7%
P.O. Box 795517
Dallas, Texas 75379-5517

All Directors and Officers as a
group (two persons)                      16,500,000                39%
-------------
(1)      Based upon 41,714,709 Company common stock outstanding as of
         September 1, 2002.
(2)      Mr. Cohen is the President and Chief Operating Officer of RN Capital
         Partners, Inc. The shares attributed to RN Capital Partners, Inc. are
         the same shares attributed to Mr. Cohen.
(3)      Ms. McMullen is the president and controlling shareholder of Time for a
         Change, Inc. The shares attributed to Time for a Change, Inc. are the
         same shares attributed to Ms. McMullen.
(4)      Mr. McMullen is the husband of Cheryl L. McMullen, the president and
         controlling shareholder of Time For a Change, Inc. Mr. McMullen
         disclaims any beneficial ownership of the shares held by Time For a
         Change, Inc.

                                       12
<PAGE>

         The Company does not know of any other arrangement or pledge of its
securities by persons now considered in control of the Company that might result
in a change in control of the Company.

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

         The Company had no operations for fiscal year 1998. The expenses of the
Company, for the fiscal year ended June 30, 1998, consisting principally of
professional fees, transfer agent fees, franchise tax and registered agent's
fees were paid by Southcal Investments, Inc a Company then under the control of
Waylon McMullen, the Company's then President. In reimbursement for payments
made by Southcal Investments, Inc., for and on behalf of the Company, The
Company, on June 18, 1998 issued its Promissory Note to Southcal Investments,
Inc. in the sum of $33,315 bearing interest at 8% per annum. The due date of the
Note is June 20, 2003.

         Through December 2000 all expenses of the Company were borne by Waylon
McMullen. On December 21, 2000, the Company, in full satisfaction of any and all
claims Waylon McMullen, the former President of the Company and now a Director
of the Company, had or may have against the Company for (1) money expended on
behalf of the Company (including but not limited to Accounting Fees, Franchise
Taxes, acquisition of stock certificates); and (2) legal services rendered as
attorney for the Company, the Board of Directors authorized the issuance of
3,000,000 shares of its common stock.

         On September 3, 2002, The Company and Southcal Investments, Inc.,
agreed to satisfy the Promissory Note issued by the Company, on June 18, 1998,
in the sum of $33,315 by the issuance of 2,000,000 shares of the Company's
Common Stock. As of September 3, 2002, the Company was indebted to Southcal
Investments, Inc., in the sum of approximately $44,530, consisting of the
principal of the Promissory Note plus accrued interest of $11,215.

         On December 21, 2000, in consideration of the services rendered and to
be rendered by RN Capital Partners, Inc, a Company under the control of Martin
Cohen, President and Director of The Furia Organization, Inc., in (1)
negotiating, structuring and finalizing the recession, nun pro tunc referred to
above; (2) seeking and negotiating with potential candidates interested in
merging with the Company; (3) putting the Company in compliance with its
obligations as a 12G Company under the Securities Exchange Act of 1934, as
amended; and (4) paying and/or assuming the payment of the Company's expenses,
accrued and to be accrued, (including but not limited to legal and accounting
fees) in connection with "cleaning up" the Company and bringing it in compliance
with its obligations as a 12G Company, the Board of Directors of the Company
authorized and directed the issuance of 13,500,000 shares of its Common Stock to
RN Capital Partners. To date, RN Capital Partners has been satisfying the
obligations of the Company.

                                       13
<PAGE>

                                     PART IV

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

         A.       Financial Statements filed as part of this Report:

                                                                         Page
                                                                       Reference

                  Report of Independent Auditors on Financial
                  Statements of The Furia Organization, Inc.             F-1

                  Balance Sheet as of June 30, 1998                      F-2

                  Statements of Operations for the year ended
                  June 30, 1998                                          F-3

                  Statement of Stockholders' Deficiency for the
                  years ended June 30, 1998 and 1997                     F-4

                  Statement of Cash Flows for the year ended
                  June 30, 1998                                          F-5

                  Notes to Financial Statements of The Furia
                  Organization, Inc. for the year ended
                  June 30, 1998                                       F-6 - F-8

         B.       Financial Statement Schedules

                  None

         C.       The following Exhibits are filed as part of this Report.

                Exhibit                           Description
                -------                           -----------

                  2.1      Stock Purchase Agreement dated March 6, 1998 among
                           the Registrant and Americom Telecommunications
                           Corporation, et. al. (Incorporated by reference to
                           Exhibit 2.1 of the Registrant's Form 8-K dated
                           March 6, 1998)

                  2.2      Agreement dated January 11, 2000 rescinding Stock
                           Purchase Agreement dated March 6, 1998 among the
                           Registrant and Americom Telecommunications
                           Corporation, et. al.. (Incorporated by reference to
                           Exhibit 2.2 of Registrant's Form 8-K dated
                           January 11, 2000 and filed August 14, 2002)

                  3.1      Certificate of Incorporation of the Registrant
                           (Incorporated by to Exhibit 3 (a) of the Company's
                           Registration Statement, File No. 2-94266 LA)

                                       14
<PAGE>

                Exhibit                           Description
                -------                           -----------

                  3.2      Certificate of Amendment to Articles of Incorporation
                           (Incorporated by reference to Exhibit 2.2 of the
                           Company's 10-KSB for the fiscal year ended
                           June 30, 1997)

                  3.3      By-Laws of the Company (Incorporated by reference to
                           Exhibit 3 (b) of the Company's Registration
                           Statement)

                  4.1      Copy of Specimen Stock (Incorporated by reference to
                           Exhibit of The Company's Registration Statement)

                  10.1     Promissory Note dated June 18, 1998 issued by the
                           Registrant to Southcal Investments, Inc. is the
                           principal sum of $33,315 with Interest at 8% per
                           annum. Filed herewith.

                  16.1     Letter dated August 14, 2002 from Weinberg & Company
                           addressed to Registrant regarding change in
                           certifying accountant (Incorporated by reference to
                           Exhibit 16.1 of Form 8-K/A dated August 14, 2002)

                  16.2     Letter dated August 16, 2002 from Weinberg & Company
                           P.A. to the Securities 7 Exchange Commission
                           regarding change in certifying accountant
                           (Incorporated by reference to Exhibit 16.2 of
                           Form 8-K/A dated August 14, 2002)

                  17       Letter dated January 11, 2000 from Paul Stevens
                           resigning as an officer and director of the
                           Registrant (Incorporated by reference to Exhibit 17
                           of Registrant's Form 8-K dated January 11, 2000)


         D.       Reports on Form 8-K

                  1.       A Current Report on Form 8-K was filed on
                           August 20, 2002 and amended on August 26, 2002 to
                           report the change of accountants.

                  2.       A Current Report on Form 8-K was filed on
                           August 20, 2002 to report a change of control.

                                       15
<PAGE>

                                   SIGNATURES

         Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant certifies that it has reasonable grounds to
believe that it meets all the requirements of filing on Form 10-KSB, and has
duly caused this Form 10-KSB to be signed on its behalf by the undersigned,
thereunto duly authorized on the 30th day of September, 2002.

                                   THE FURIA ORGANIZATION, INC.


                                   By:   /s/  Martin Cohen
                                       ----------------------------------------
                                        Martin Cohen
                                        President and Chief Accounting Officer


         Pursuant to the requirements of the Securities Exchange Act of 1934,
this Form 10-KSB has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.


Principal Executive                    Title                        Date
-------------------                    -----                        ----

/s/    Martin Cohen            President and Director        September 30, 2002
---------------------------
Martin Cohen

/s/  Waylon McMullen            Director                     September 30, 2002
---------------------------
Waylon McMullen

                                       16
<PAGE>

                            SECTION 302 CERTIFICATION


         I, Martin Cohen, certify that:

         1. I have reviewed this annual report on Form 10-KSB of The Furia
Organization, Inc.;

         2. Based on my knowledge, this annual report does not contain any
untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this
quarterly report;

         3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respect the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report.

September 30, 2002


                                                 /s/ Martin Cohen
                                                 -----------------------------
                                                 Martin Cohen, President


                                       17
<PAGE>


                          Index to Financial Statements

                     Description                                   Page
                     -----------                                   ----


         Report of Independent Certified Public
           Accountants (Harvey Weingard C.P.A..)                    F-1

         Balance Sheet at June 30, 1998,                            F-2

         Statements of Operations for
           the year ended June 30, 1998                             F-3

         Statement of Stockholders' Deficiency
           For years ended June 30, 1998 and 1997                   F-4

         Statements of cash flows for
           the year ended June 30, 1998,                            F-5

         Notes to Consolidated Financial Statements              F-6 - F-8



                                       18
<PAGE>

               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS



To the Board of Directors of:
 The Furia Organization, Inc.


We have audited the accompanying consolidated balance sheets of The Furia
Organization, Inc. and Subsidiary as of June 30, 1998, and the related
consolidated statements of operations, stockholders' (deficiency) and cash flows
for the years then ended. These financial statements are the responsibility of
the Company's management. Our responsibility is to express an opinion on these
financial statements based on our audit.

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

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of The Furia Organization, Inc. as
of June 30, 1998, and the results of its operations and its cash flows for the
year then ended in conformity with generally accepted accounting principles.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As discussed in Note 1 to these
financial statements, the Company has been substantially inactive since 1987,
which raises substantial doubt about its continued existence as a going concern.
Management's plans in regard to this matter are also described in Note 1. The
financial statements do not include any adjustments that might result from the
outcome of this uncertainty.


                /s/ HARVEY WEINGARD, C.P.A

Boca Raton, Florida
September 30, 2002

                                      F-1
<PAGE>
<TABLE>
<CAPTION>
                          THE FURIA ORGANIZATION, INC.
                                  BALANCE SHEET
                               AS OF JUNE 30, 1998


            ASSETS

<S>                                                                 <C>
Current Assets                                                      $         --
                                                                    ------------
TOTAL ASSETS                                                        $         --
                                                                    ------------

            LIABILITIES AND STOCKHOLDERS' (DEFICIENCY)

Current Liabilities
 Note Payable                                                       $     33,315
 Accrued Interest                                                             88
 Accounts Payable and Other Accrued Liabilities                               --
                                                                    ------------
     TOTAL LIABILITIES                                              $     33,403
                                                                    ------------
Stockholders' (Deficiency)
 Common Stock - $0.0001 par value, 200,000,000 shares
   authorized, 25,214,209 issued and outstanding at
   June 30, 1998,                                                   $      2,521
 Additional Paid-In Capital                                            6,384,936
 Donated Capital                                                          14,972
 Accumulated Deficit                                                  (6,435,832)

    TOTAL STOCKHOLDERS' (DEFICIENCY)                                $    (33,403)
                                                                    ------------
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIENCY)                    $         --
                                                                    ============


                 See accompanying notes to financial statements

                                      F-2
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                          THE FURIA ORGANIZATION, INC.
                             STATEMENT OF OPERATIONS
                        FOR THE YEAR ENDED JUNE 30, 1998,



<S>                                                                 <C>
REVENUES                                                            $         --
                                                                    ------------

TOTAL REVENUE                                                       $         --
                                                                    ------------


EXPENSES
  General, administrative And Interest Expenses                     $     22,668
                                                                    ------------

NET LOSS                                                            $    (22,668)

Loss Per Common Share                                               $    (0.0015)

Weighted Average Number of Common Shares Outstanding                  15,200,622


                 See accompanying notes to financial statements

                                      F-3
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                                  THE FURIA ORGANIZATION, INC.
                                             STATEMENT OF STOCKHOLDERS' (DEFICIENCY)
                                           FOR THE YEARS ENDED JUNE 30, 1998 AND 1997


                                                                                 Additional
                                 Preferred   Preferred   Common      Common      Paid-in      Donated   Accumulated
                                  Shares      Stock       Shares     Stock       Capital      Capital     Deficit      Total
                                 -------     ------      -------     -----       -------      -------   ---------      -----
<S>                              <C>         <C>         <C>          <C>        <C>          <C>       <C>            <C>
 Balance at June 30, 1997        3,001,000   $ 300       11,862,760   $ 1,186    $6,385,971   $14,972   $(6,413,164)   $(10,735)

 Net Loss                                                                                                   (22,668)    (22,668)

 Common Stock Issuance                                   13,351,760     1,335                                             1,335

 Preferred Stock Conversion      (3001,000)   (300)                                                                        (300)

 Reduction in Paid-in Capital                                                        (1,035)                             (1,035)

 Balance at June 30, 1998            -0-       -0-       25,214,209   $ 2,521    $6,384,936   $14,972   $(6,435,832)   $(33,403)
                                 ---------   -----       ----------   -------    ----------   -------   -----------    --------



                                         See accompanying notes to financial statements

                                                              F-4
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                          THE FURIA ORGANIZATION, INC.
                             STATEMENT OF CASH FLOWS
                        FOR THE YEAR ENDED JUNE 30, 1998



<S>                                                                <C>
Cash Flows from Operating Activities:
     Net Loss                                                      $     (22,668)
     Adjustments to Reconcile Net Loss to Net Cash
       Provided (Used) by Operating Activities:
     Increase (Decrease) in Accounts Payable and
       Accrued Liabilities                                               (10,735)
     Increase in Notes Payable                                            33,315
     Accrued Interest                                                         88
                                                                   -------------

   Total Adjustments                                               $      22,668
                                                                   -------------

   Net Cash Provided (Used) by Operating Activities                           --

   Cash Flows From Investing Activities                                       --

   Cash Flows From Financing Activities                                       --
                                                                   -------------

Net Increase (Decrease) in Cash                                               --

Cash at Beginning of Year                                                     --
                                                                   -------------

Cash at End of Year                                                $          --
                                                                   =============


                 See accompanying notes to financial statements

                                      F-5
</TABLE>
<PAGE>

                          THE FURIA ORGANIZATION, INC.
                          NOTES TO FINANCIAL STATEMENTS
                        FOR THE YEAR ENDED JUNE 30, 1998,


NOTE 1 - GOING CONCERN

         The Furia Organization, Inc., (the Company) has been inactive for the
past three years and was seeking candidate for a merger or business combination.
(See Subsequent Events) The accompanying statements have been prepared in
conformity with generally accepted accounting principles, which contemplate
continuation of the Company as a going concern.

         The Company's continued existence as a going concern is substantially
in doubt since such existence is solely dependent upon the continued support of
its Board of Directors. The financial statements do not include any adjustments
that might result from the outcome of this uncertainty.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         Organization

         The Company was incorporated under the laws of the State of Delaware on
June 26, 1984.

         Loss Per Common Share

         Loss per common share is computed by dividing net loss by the average
number of common shares outstanding during the period.

         Use of Estimates

         The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that effect the amounts reported in the financial statements and
accompanying notes. Actual results could differ from those estimates.

NOTE 3 - INCOME TAXES

         The Company provides for the tax effects of transactions reported in
the financial statements. The provision, if any, consists of taxes currently due
plus deferred taxes related primarily to differences between the basis of assets
and liabilities for financial and income tax reporting. The deferred tax assets
and liabilities, if any, represent the future tax return consequences of those
differences, which will either be taxable or deductible when the assets and
liabilities are recovered or settled. As of June 30, 1998, the Company had no
material current tax liability, deferred tax assets, or liabilities.

                                      F-6
<PAGE>

NOTE 4 - RECAPITALIZATION AND RECLASSIFICATION

         (a) Change of Authorized Shares and Par Value

         On February 20, 1998 the Company's shareholders passed a resolution to
(i) increase the Company's authorized Common Stock to 200,000,000 from
15,000,000, and the authorized Preferred Stock to 50,000,000 from 5,000,000, and
(ii) change the par value of both the Company's Common Stock and Preferred Stock
to $0.0001 from $0.01 per share. The Certificate of Amendment to the Certificate
of Incorporation was filed with the Delaware Secretary of State on February 23,
1998. All amounts and per share data in this report have been restated to
reflect the change in authorized shares and par value.

         (b) Conversion of Series A Preferred Stock to Common Stock

         On March 5, 1998, Time For A Change, Inc., ("TFAC") a Texas corporation
and the beneficial owner of 3,001,000 shares of Series A Convertible Preferred
Stock, ("TFAC shares") notified the Company of its election to convert the TFAC
shares into common stock of the Company in accordance with the conversion rights
set forth in the Company's Certificate of Designation, Preferences, and Rights
of the Series A Preferred Stock, as amended (the "Certificate of Designation").
Pursuant to the Certificate of Designation, each share of Series A Convertible
Preferred Stock was convertible into 4.449 shares of the Company's common stock.
In connection with the conversion of TFAC shares, the Company issued to TFAC
13,351,449 shares of the Company's common stock, which as of March 5,1998
constituted approximately 53% of the total issued and outstanding shares, and
cancelled 3,001,000 shares of the issued and outstanding Series A Preferred
Stock. TFAC is controlled by certain family members of the Waylon McMullen a
Director and former President of the Company.

NOTE 5 - SUBSEQUENT EVENTS

         On March 6, 1998, the Company consummated a Stock Purchase Agreement
under the terms of which, amongst other things, the Company exchanged an
aggregate of 74,184,270 shares of its Common Stock for all the issued and
outstanding capital shares of Americom Telecommunications Corporation ("ATC").
In connection with the consummation of the Stock Purchase Agreement, the then
sole Director of the Company, Waylon McMullen agreed to appoint Messrs. Paul
Stevens, James A. Stevens, Dr. Richard A. Feller, Ph.D, Filiberto Fernandez,
Michael Nunez-Ledo and Jorge T. Buces as members of the Board of Directors, in
each case to be effective ten days after delivery of written notice thereof to
the shareholders of the Company in accordance with Rule 14f-1 of the Securities
Exchange Act of 1934, as amended. Mr. McMullen further agreed to resign as a
Director of the Company but remain as President thereof, until his successor
could be appointed. After notice was duly given to shareholders as set forth
above, Mr. Paul Stevens accepted his appointment as a Director of the Company,
but Messrs. James A. Stevens, Dr. Feller, Fernandez, Nunez-Ledo and Buces did
not accept such appointments and never acted as Directors of the Company.

                                      F-7
<PAGE>

         ATC was, in fact, never activated nor operational. Moreover, requisite
capital was never raised in order to make ATC viable nor was ATC ever able to
make the acquisitions it represented were available when it was acquired by the
Company. Additionally shares to be delivered pursuant to the provisions of the
Stock Purchase Agreement were never delivered by either the Company or the
shareholders of ATC. Accordingly, on January 11, 2000, the Stock Purchase
Agreement, pursuant to written agreement, was rescinded, nun pro tunc, and the
parties placed back into the position as if said Stock Purchase Agreement had
never been entered into. Paul Stevens resigned as a Director and Mr. McMullen
resumed his status as the sole Director.

         On May 10, 2001, Mr. Martin Cohen was appointed President and elected a
Director of the Company to serve until his successor is elected and agrees to
serve.

         On December 21, 2000, in consideration of the services rendered and to
be rendered by RN Capital Partners, Inc. in (1) negotiating, structuring and
finalizing the recession, nun pro tunc referred to above; (2) seeking and
negotiating with potential candidates interested in merging with the Company;
(3) putting the Company in compliance with its obligations as a 12G Company
under the Securities Exchange Act of 1934, as amended; and (4) paying and/or
assuming the payment of the Company's expenses, accrued and to be accrued,
(including but not limited to legal and accounting fees) in connection with
"cleaning up" the Company and bringing it in compliance with its obligations as
a 12G Company, the Board of Directors of the Company authorized and directed the
issuance of 13,500,000 shares of its Common Stock to RN Capital Partners. Mr.
Cohen is the President and Chief Operating Officer of RN Capital Partners, Inc.

         On December 21, 2000, the Company, in full satisfaction of any and all
claims Waylon McMullen, the former President of the Company and now a Director
of the Company, had or may have against the Company for (1) money expended on
behalf of the Company (including but not limited to Accounting Fees, Franchise
Taxes, acquisition of stock certificates); and (2) legal services rendered as
attorney for the Company, the Board of Directors authorized the issuance of
3,000,000 shares of its Common Stock to Mr. McMullen.

         On September 3, 2002, the Company and Southcal Investments, Inc.,
agreed to satisfy the Promissory Note issued by the Company, on June 18, 1998,
in the principal amount of $33,315 by the issuance of 2,000,000 shares of the
Company's Common Stock. As of September 3, 2002, the Company was indebted to
Southcal Investments, Inc., in the sum of approximately $44,530, consisting of
the principal of the Promissory Note plus accrued interest of $11,215.

                                      F-8