SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-KSB

    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
                                     OF 1934
                   FOR THE FISCAL YEAR ENDED DECEMBER 31, 2001
          OR
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                                   ACT OF 1934

                         COMMISSION FILE NUMBER: 017833

                              GREENLAND CORPORATION
             (Exact Name of Registrant as specified in its charter)

          NEVADA                              87-0439051
(State  of  other  jurisdiction  of  incorporation  or  organization)
(I.R.S.  Employer  Identification  Number)

                      2111 PALOMAR AIRPORT ROAD, SUITE 200
                               CARLSBAD, CA 92009
              (Address and zip code of principal executive offices)

                                  (760) 804-2770
              (Registrant's telephone number, including area code)

Securities  registered  pursuant  to  Section  12(b) of the Act: NONE Securities
registered  pursuant  to Section 12(g) of the Act: Common Stock, par value $.001
per  share
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
Indicate  by  check mark if disclosure of delinquent filers pursuant to Item 405
of  Regulation  S-K (*229.405 of this chapter) is not contained herein, and will
not  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-K
or  any  amendment  to  this  Form  10-K.
As  of  March  31,  2002, the aggregate market value of the voting stock held by
non-affiliates  of  the  registrant  was  $918,765 based upon a $0.004 per share
trading  price  on  that  date.
Indicate the number of shares outstanding of each of the registrant's classes of
common  stock,  as  of  the  latest  practicable  date.
                      CLASS A COMMON STOCK $0.001 PAR VALUE
                230,920,378 SHARES OUTSTANDING AS OF MARCH 31, 2002

                       DOCUMENTS INCORPORATED BY REFERENCE

Certain  information  required  by  Part  III of this Form 10-KSB is included by
reference  to  the Company's definitive proxy statement filed in accordance with
rule  14a-101,  Schedule  14A.
Traditional  Small  Business  Disclosure  Format  (check  one): X YES   NO

<PAGE>

FORWARD  LOOKING  INFORMATION
-----------------------------
In  addition  to  historical  information, this Annual Report on Form 10-KSB may
contain  forward-looking  statements  that  involve  a  number  of  risks  and
uncertainties,  including  those  discussed  below at "Risks and Uncertainties."
While  this  outlook  represents  management's  current  judgment  on the future
direction  of  the  business,  such  risks  and uncertainties could cause actual
results  to  differ  materially  from  any  future  performance suggested below.
Readers  are  cautioned  not  to  place  undue  reliance  on the forward-looking
statements,  which  speak only as of the date of this Annual Report. The Company
undertakes  no  obligation  to publicly release any revisions to forward-looking
statements  to  reflect  events  or circumstances arising after the date of this
document.  See  "Risks  and  Uncertainties." References in this Annual Report on
Form  10-KSB  to  "Greenland" and the "Company" are to Greenland Corporation and
its  wholly-owned  subsidiary,  Check  Central,  Incorporated.

PART  I.
--------

ITEM  1.

GENERAL

     Greenland is a Nevada corporation formed on July 17, 1986, as Zebu, Inc. On
September  11,  1994, the shareholders approved changing the name of the company
to  Greenland  Corporation.  In  September  1994,  the  Company  acquired  GAM
Properties,  Inc.,  which  it  sold  for  stock, in December 1997, to Golden Age
Homes,  Inc.

In  May  1998 the Company acquired all the issued and outstanding stock of Check
Central,  Inc.  ("Check Central"); Check Central is a wholly owned subsidiary of
Greenland.

The  Company  was  previously  engaged  in  the  development  and  marketing  of
communications  technology,  called  AirLink,  to  enable  utilities to automate
meter-reading  functions.  On  April  5,  1999,  the  Company  sold  its AirLink
technology  to  Telenetics  Corporation.

Following  the  acquisition  of  Check  Central, Greenland devoted itself to the
development  and marketing of automated check cashing products and technologies.
For  the  past  several  years,  the  Company  has worked on the development and
marketing of its MAXcash automated banking machine ("ABM"), a product similar in
form  to  an  automated  teller  machine  ("ATM").
The  Company  has  also  worked  on the development of point-of-sale transaction
software  to  provide  back-office support for a network of such machines in the
field.  The  Company placed the first production units of its MAXcash ABM in the
field  in  the  second quarter of fiscal year 1999. Over the past two years, the
Company  has  developed  expertise  in  the  point-of-sale  transaction business
through  its  efforts  related  to  the  MAXcash  ABM.

During  fiscal  year 2000 and 2001,  the Company was involved in litigation with
Seren  Systems,  Inc.  ("Seren"),  its  principal  software developer, regarding
ownership  rights  to  certain  intellectual  property and possession of certain
source  code  related  to  said  property  of  the  Company.

In  January  2001  the  Company entered into an agreement with Intellicorp,
Inc.  ("Intellicorp")  whereby  Intellicorp  agreed  to invest $3,000,000. After
making  the  initial  payment of $500,000, Intellicorp defaulted on the balance.

As a direct result of the Seren  litigation and the default by Intellicorp,
management  determined  that  its  efforts to develop, produce, and successfully
market and support its MAXcash ABM system should be modified.  On April 2, 2001,
the  Company announced that it was temporarily suspending back office support of
its  Check  Central  subsidiary  check cashing operations until such time as the
integration  of  the Company's Check Central software with the MAXcash operating
system  was  complete,  in  order  to  minimize  its  check cashing risk, reduce
operating  losses,  and  to  conserve  capital.

In July 2001, the Company entered into an agreement with CardPlus International,
Inc.,  the  nations  only  certified  minority  electronic  payments  processor.
Pursuant to the agreement, CardPlus purchased six MAXcash ABM's and licensed the
Company's  intellectual  property to establish a electronic transaction and data
processing  center.  This transaction was the first purchase under the Company's
ongoing  strategy  to  aggressively pursue sales of the MAXcash ABM to customers
that  have  their own processing capabilities. In addition, this transaction was
the  first  in  the  Company's  strategy  to  license its intellectual property.

In  December  2001  the  Company  entered  into  a  license  agreement with
Automated  Cash  Machines  ("ACM") whereby the Company licensed its intellectual
property to ACM to enable ACM have it own processing capabilities to operate its
MAXcash  ABM's.

The  Company  has invested, and continues to invest substantial resources in the
ongoing development of its back-office, risk management, and transaction support
software  systems.  The  Company  hopes  to expand its scope from manufacturing,
distribution,  and  support  of  its  proprietary  MAXcash ABM to also providing
support  for  the  ABM-like  terminals  of other manufacturers. Furthermore, the
Company believes that it can be successful in providing back-office software and
on-line  transaction  support  to other hardware vendors and retailers through a
network  and  software  system  of  its  own  design.

The Company's plan is to establish a solid revenue base through sale and/or
licensing  of  its  intellectual  property  and/or  MAXcash  ABM  and  through
acquisition of check cashing stores, the "brick and mortar" of the industry, and
acquisition  of company's in related and/or complimentary industries that can be
operated  profitably.

The Company's principal executive offices are located 2111 Palomar Airport Road,
Suite  200,  Carlsbad,  CA,  92009.  The  Company's  main  phone number is (760)
804-2770.

MARKET  OVERVIEW

The  number  of  consumers  in the U.S. that do not use traditional banking
services  is  significant. According to Marketdata Enterprises, Inc., 35 percent
of  the  population  can  be  categorized  as  "sub-prime," i.e., consumers with
sub-prime  credit  ratings who make most of their financial transactions outside
of  the  traditional  banking  industry.

Without  bank  accounts, many of these people are obliged to turn paychecks into
cash  and/or  money  orders  from  alternative  service  providers. According to
Financial  Service  Centers  of  America  ("FiSCA"), a professional organization
representing  the  check  cashing  industry,  there  are  approximately  6,000
neighborhood  financial  service  centers,  which  cash  upwards  of 180 million
payroll  checks  annually with an aggregate face value of more than $60 billion.
FiSCA  reports  that,  in  recent years, as a broader spectrum of consumers have
sought  increased  financial service convenience, including flexibility of hours
and faster delivery of financial services, community-based check cashing centers
have  proliferated.

Over the years, check cashers have introduced a wide range of financial services
to  complement  basic  check  cashing.  While  the  cashing of checks, including
payroll checks, government checks, personal checks and insurance drafts, remains
the  check  cashing  center's  primary  activity,  other  financial services are
available  at  check cashing facilities. These include the sale of money orders,
money  wire transfers, payment of public utility bills, welfare benefit and food
stamp  distribution,  public transportation fare, metrocard and token sales, and
pre-paid  telephone  debit  cards,  to  cite  a  few.
Just  as  the  services  offered  by  the  industry have expanded over time, the
markets  that  check  cashers  serve  have  broadened.  Check  cashing  centers
traditionally  were  concentrated  in  lower  income  neighborhoods, serving and
hiring residents of these communities. More recently, as middle-income consumers
have  demanded  more  convenient financial services, check cashers have expanded
into  their communities. According to FiSCA, the greatest growth of the industry
can  be  seen  in  the  suburban  market.

Check  cashing  and  other  financial services are not the exclusive province of
check  cashing  stores,  or  even the use of automated kiosks like the Company's
MAXcash  ABM  system.  The  increasing  sophistication  of POS systems in retail
stores  enables  easier  and safer delivery of check cashing, check approval and
guarantee  systems,  especially  with the deployment of advanced risk management
software.  According  to the 1997 U.S. Census, there are over 1.1 million retail
establishments  in  the  U.S.  The vast majority of these retail locations could
provide  at least some financial services to their customers as long as adequate
POS  support  -  including  hardware  and  software  systems  -  is  available.
The  Company  is  addressing  what it believes is an emerging market segment and
increasing  demand.  Financial  services  businesses cash checks for a fee based
upon  a  percentage  of  the  face  amount  of the check. As reported in the Los
Angeles  Times  on  March  3,  2000,  it  is  estimated  that the fringe banking
community  generates  approximately  $6  billion  in  total  fees  annually.

The  financial  potential associated with selling and operating stand-alone
automated  check cashing machines such as the MAXcash ABM, is considerable., The
scope  of  such  an  effort  requires  considerable financial capital. (Also see
"Risks  and  Uncertainties.")  The  Company plans to leverage its experience and
resources  to  providing  back-office  software support for such services and to
partnering  with  other  POS  and  risk-management  concerns  (both hardware and
software)  to  offer  retailers  cost  effective  access  to  financial  and
risk-management  services  for  their customers. (Also see "Business Strategy.")

BUSINESS  OPERATIONS

The Company has been engaged in the development of software that is capable
of  providing  consumers  with  a  full  range  of  automated financial services
including  payroll  and  other  check cashing, ATM, wire transfers, bill paying,
money  order and phone card dispensing services delivered through a freestanding
kiosk,  similar  in  appearance  to  an  ATM  machine. The Company acquired this
technology  in  May 1998. To increase the utility of this base code, the Company
had  been  primarily  working  with  Seren  Systems,  a  third-party  software
development  company. However, a dispute arose, resulting in litigation, between
Seren  and  the  Company  regarding  continued use of the software modifications
developed  by  Seren, and the ownership of the modified software source code. In
November  2001,  Seren  and  the  Company reached a settlement whereby Greenland
retained ownership rights to all software and /or intellectual property that was
the  subject  of  the  dispute.  (Also  see  "Legal  Matters.")

The Company placed the first production units of its MAXcash ABM in the field in
the  second quarter of 1999. From the second quarter 1999 through the end of the
first  quarter of 2001 the Company had placed more than 31 units in operation in
nine  States  including  California,  Colorado, Kansas, Louisiana, Nevada, North
Carolina, South Carolina, Michigan and Washington. Through these activities, the
Company  has  developed  expertise  in  retail-based  financial  services. These
marketing  efforts  were  based  on  a  revenue  model  that  included  sales of
check-cashing  hardware,  and the resulting recurring revenue generated from the
transaction  fees  extracted  from  check  cashing, ATM, money order and prepaid
phone card sales. The platform was also initially designed to support additional
transactions,  e.g.,  wire transfers and electronic bill payments, although such
were  not  added  due  to  the Seren dispute and other matters. (Also see "Legal
Matters.")

As  a  result of Seren's refusal to release the Company's MAXcash operating
source  code,  the  Company  was  unable  to modify the installed version of the
operating  software to fix defects or "bugs." In addition, management's view was
that  the  original  and properly functioning Check Central check-cashing system
was  incompletely  integrated  by  Seren  with  respect  to  its risk management
functions.  Pursuant  to  the  litigation,  a functional review was conducted of
Seren's  most  current version of the system. The technical assessment found the
updated  system  to still be lacking many of the MAXcash terminal bug fixes, and
it  did  not  fully integrate all of the risk management components of the Check
Central  software.  (Also  see  "Legal  Matters.")

Therefore,  on  June 5, 2001 the Company entered into an exclusive software
development  and  support  agreement  with  Trilicom  Data  Solutions to provide
device-level  software  for the Company's interactive check cashing MAXcash ABM,
as  well  as  to  provide  systems  integration  services  for independent check
cashers, grocers, and other Greenland customers.  This will allow the Company to
continue  sales  and  support  of  its  MAXcash  ABM terminals while the Company
rebuilds  it's  host  and  back-office  transaction  support  infrastructure  .
On  June  26,  2001,  the  Company  entered  into an exclusive manufacturing and
assembly  agreement  with  California  Chassis,  Inc.,  to  build  Greenland's
interactive  check  cashing  Maxcash  ABM.

In July 2001, the Company entered into an agreement with CardPlus International,
Inc.,  the  nations  only  certified  minority  electronic  payments  processor.
Pursuant to the agreement, CardPlus purchased six MAXcash ABM's and licensed the
Company's  intellectual  property to establish a electronic transaction and data
processing  center.  This transaction was the first purchase under the Company's
ongoing  strategy  to  aggressively pursue sales of the MAXcash ABM to customers
that  have  their own processing capabilities. In addition, this transaction was
the  first  in  the Company's strategy to license its intellectual property (See
Note  9  to  Notes  to  Consolidated  Financial  Statements).

In  December  2001  the  Company entered into a license agreement with Automated
Cash  Machines ("ACM") whereby the Company licensed its intellectual property to
ACM  to  enable  ACM  have it own processing capabilities to operate its MAXcash
ABM's.

In  February  2002,  the  Company  took  the  first  step in acquiring companies
that  are  complimentary  to the Greenland's operations, with the acquisition of
W3M,  Inc., the parent of Paradigm Cabling Systems -a market niche specialist in
data  communications  and network project management. With revenues of over $5.1
million  in  fiscal  year  just  completed,  Paradigm  provides  a  variety  of
engineering  and  "last  mile" installation services to corporate and government
customers  throughout  Southern  California  (also  see  Subsequent  Events)

THE  MAXCASH  ABM  -  GENERAL  OPERATION

A  potential  check  cashing  customer  can  enroll  for  a  check  cashing
membership  at  any MAXcash ABM location by simply filling out and inserting the
application  into  the machine or enrolling by voice over a dedicated telephone.
The  check  is  scanned  and  returned  to  the  customer.  A photo image of the
customer,  the  application,  and  the check are transmitted for approval to the
Company's call center. The initial approval process is brief - approximately ten
minutes, depending upon how quickly the applicant's information can be verified.
The  approval  process  involves  confirmation  of  basic  information  such  as
employment,  employer's  bank  account,  driver's  license,  and  address.  Upon
approval,  customers  can  then  cash their payroll check by inserting the check
into  the  scanner  and  following  the on screen directions. The customer has a
choice  of  selecting  either  Spanish or English by simply touching the screen.
Once  the  check  is  inserted,  the  customer  is  prompted to enter a Personal
Identification  Number  ("PIN")  the  customer  selected  when  filling  out the
application.  If  there  are any questions, a telephone handset is provided and,
when  lifted by the customer, dials directly into a customer service center. The
customer  service  representative  can  help the customer through the prompts in
either Spanish or English. If there are no questions, the screen will prompt the
customer  to enter the check date and amount, insert the check into the scanner,
and once approved, the check is cashed. The processing software used by the call
center  is  designed to provide a speedy check approval process. Any checks that
are  not  approved  are  rejected  and  returned  to  the  customer.

For  future transactions, customers are mailed a membership card that contains a
magnetic  strip and looks like a standard ATM card. If a card is lost or stolen,
customers  will  still be able to cash checks by remembering the social security
or  unique  identification  number  and  PIN. If the customer loses his card and
forgets  his  numbers, the call center can still cash the check by comparing the
customer's  original  photo with the person standing in front of the MAXcash ABM
camera,  reviewing  the  customer's unique history file, make a determination of
risk,  and  approve  or  deny  the  check  cash  transaction.

Once  the  check is approved, a fee is deducted from the face value of the check
and  the remaining balance is then available to the customer to be taken as cash
and/or in product - money orders, phone cards and/or other products purchased as
they  became  available.  The  customer  is  prompted to select the amount to be
dispensed  in  any  combination  of  cash  or  products  purchased. No coins are
dispensed  -  cash is dispensed to the customer in increments of $1, $5, $20 and
$100  denominations,  rounding  the  transaction up or down to the nearest whole
dollar.  The  Company  also  has  a  two-cassette dispensing model that pays out
amounts  using, e.g., $50's and $20's, with any balance paid via a voucher. This
in-store  voucher  is  good  for  purchases  or  cash  at  the  register.

The  checks  cashed  during the day are stored in a keyed lock box. The retailer
removes  the  checks  from the ABM at the end of the day and deposits the checks
into  a designated clearing account at a local bank. A fee based on a percentage
of  the  total amount of checks authorized is deducted from the clearing account
on  a  daily  basis.  A transaction detail report is provided that shows the fee
breakdown  along  with  all  in-store vouchers, money orders, checks cashed, ATM
withdrawals  and  any  other transactions. The daily reports are provided by the
processor and are sent via e-mail directly to the customer's designated location
each  day. The detailed reports enable the retailer to reconcile the daily check
deposits  to  the  daily  summary.

Cash  loading is generally the responsibility of the retailer, unless other
arrangements  are  made.  Depending  on  the  volume  of checks cashed and other
services  provided  a  merchant  is  expected  to  load approximately $50,000 to
$100,000  of  cash  in  each  machine.

BUSINESS  STRATEGY

Managements goal is to build a solid foundation that will provide operating
revenue  and opportunity for profitability. This goal will be achieved through a
business  stragety  of  continued  sales  of  the  MAXcash  ABM,  licensing  of
intellectual property, acquisitions of check cashing stores  and acquisitions of
complimentary  companies.

The  Company's  will  participate  in  the  $60+ billion check cashing market by
offering an open-architecture POS/check cashing transaction processing platform,
either  for  self-service  or  clerk  assisted  transactions. In addition to the
Company's  support  for  its MAXcash ABM kiosk, the Company plans to broaden its
market  focus  and  reposition  itself  as  a  leading  provider  of back-office
transactions and support services to the self-service check cashing, retail, and
POS  transaction  industries  - including check approval and guarantee services,
merchant POS services, ATM transaction processing, money order and prepaid phone
card  dispensing,  wire  transfer, bill pay, and other products and services. By
creating an open-systems transaction processing environment, the Company will be
repositioned  as  a "switch" that multiple providers can connect to and through.
As  a  switch, the Company will be in a better position to not only leverage its
own  direct  sales  efforts,  but  also  those  of  national  ATM & POS hardware
suppliers such as NCR, Diebold, Tidel, Triton, Cross, IBM, Verifone (H-P), etc.,
which  could  have the effect of accelerating short- and long-term sales growth.
(Also  see  "Risks  and  Uncertainties.")

Self-service  check  cashing (and the addition of related products and services)
is  a  capital-intensive  business.  In  addition to significant risk management
issues,  each  machine sold or owned by the Company requires substantial working
capital  to  build,  operate,  maintain  inventory  of,  ship,  and  service.
Furthermore,  substantial  amounts  of  cash  are  required to meet the needs of
customers  who  use  the  machine.

Accordingly, the Company eliminated direct manufacturing of MAXcash ABM units in
favor of fully outsourcing such machine assembly to California Chassis, Inc.,  a
California  based corporation. The Company has also outsourced its sales efforts
to  established  distributors  in  the  industry.

Additionally,  the  Company  is exploring several strategic partnerships for the
continued  development  and  sales  of hardware systems (ABM-like machines), POS
transaction  software  (the  back-office),  all  to  reside  on  an  advanced,
third-party supplied host platform. The net effect of this strategy is to reduce
The  Company's  ongoing  business  risk,  previously  reliant  on an exclusively
in-house  ABM  sales  strategy.

The  Company  has  recognized  that many current check cashing business not only
wish  to acquire a check cashing machine but also desire to operate as their own
processor.  The  Company  has addressed this opportunity by developing the Check
Central Solutions back office processing system. This system is designed so that
current  providers  of  virtually  any size can easily incorporate a MAXcash ABM
into their current operations. The back-office transaction processing system can
be  used locally in each store, or,  large check cashing operators can install a
network  solution  connected  to  a  central  processing  center.

To  compliment  its  check  cashing  technology  and provide a revenue base, the
Company  is  seeking  to  acquire  existing  check  cashing  stores. The Company
believes  that  these stores will not only provide cash flow base but will serve
as  future  locations  for  the  MAXcash  ABM. For example, certain stores could
acquire  multiple  MAXcash  ABM's  to serve as a hub and spoke network providing
remote  service  locations  to  their  existing  customers.

In  February  2002, the first step in acquiring companies that are complimentary
to  Greenland and can serve as a foundation for growing revenues and earnings to
Greenland  was  the  acquisition  of  W3M,  Inc., the parent of Paradigm Cabling
System.  Paradigm  represents  an  internal  profit  center  and is a major step
towards  building  a solid infrastructure for Greenland's transaction processing
and  software  business. With Paradigm's expertise in-house, Greenland will have
the  ability  to  obtain  favorable network pricing, installation and management
services  for  its  MAXcash  ABM and Check central Solutions customers (Also see
"Subsequent  Events").

MANUFACTURING,  PRODUCTION,  AND  SOURCES  OF  SUPPLY

The  Company  outsources  the  manufacturing  and  assembly  of its MAXcash
terminals  pursuant  to an agreement with California Chassis located in Anaheim,
California.  The  Company  will  use its current inventory, as well as potential
additional  purchases,  in  the  production  and assembly of such outsourced ABM
units.

In  addition  to  buying  components  from  outside  vendors,  the  Company
purchases  and/or  licenses  software  programs, including operating systems and
intellectual  property  modules  (pre-written  software  code  to  execute  a
specifically  defined  operation).  The  Company  has  directly  licensed system
software  that  is  either  embedded  or otherwise incorporated in its products.

The  MAXcash  ABM  was designed using a modular approach. The safe case was
designed  to meet UL-291 standards, using thick, high-grade steel to provide the
appropriate  levels  of  cash  and  system protection. With the exception of its
proprietary  check  imaging hardware, each sub-component (monitor, magnetic card
reader,  printer,  scanner,  money dispenser, CPU) is common to other nationally
available  ATM  machines  and was generally chosen for its high reliability. All
key  sub-components  are mounted on easy access slides to facilitate replacement
if  necessary.  Brackets,  power  supplies,  cable bundles, hinges and all other
peripherals  are  heavy-duty components to ensure long life and low repair cost.
The  Company  currently  uses  subcontractors,  suppliers, internal and external
assemblers  to  build  machines  to  meet  the  Company's  requirements.

WARRANTY/MAINTENANCE

The  Company  provides  a  one  year  full parts and labor warranty for the
MAXcash  ABM  and  an  extended  maintenance  plan  at  additional  cost  to the
purchaser.

RESEARCH  AND  DEVELOPMENT

The markets for the Company's products and services may be characterized by
evolving  technology,  new  product  introductions,  and  price  competition.
Accordingly,  the  Company  monitors new technology developments and coordinates
with  suppliers, distributors and dealers to enhance existing products and lower
costs.  Advances  in technology require ongoing investment. (Also see "Risks and
Uncertainties.")

COMPETITION

The markets for the Company's products and services are highly competitive.
The  Company's ability to compete in its markets depends on a number of factors,
including  selling  prices, product performance, product distribution, marketing
ability,  and  customer  support.  A key element of the Company's strategy is to
provide  competitively  priced,  quality  products  and  services.

These  competitive  conditions may adversely affect the Company's revenues,
profitability and ability to expand. The Company competes with traditional check
cashing  businesses performing the services in a non-automated, over-the-counter
manner  and  with  other  companies  that  use  automated  check-cashing kiosks.
Because  the automated check cashing technology is relatively new and has only a
limited  operating  history, competition is limited. However, check cashing is a
growing  industry  and  traditional check cashing businesses are now considering
automating  some  of  their  operations  as  well.

INTELLECTUAL  PROPERTY

The  Company  intends  to  protect  its  technology by filing copyright and
patent  applications for the patentable technologies that it considers important
to  the development of its business. The Company also intends to rely upon trade
secrets,  know-how  and  continuing  technological  innovations  to  develop and
maintain  competitive  advantage.

The  Company  has  filed  a  copyright  application  with  the  U. S. Patent and
Trademark  Office with respect to its proprietary server technology. The Company
may  file  patent  applications  with  respect to its kiosk system and any other
technology  it  has  developed  for  use  with  the MAXcash ABM. There can be no
assurance  that  any  U.S.  Patent application filed by the Company, if and when
filed,  will be granted or, if obtained, will sufficiently protect the Company's
proprietary  rights.

Even  if  the patents the Company applies for are granted, they do not confer on
the  Company  the  right  to  manufacture  and  market products if such products
infringe patents held by others. The Company has not undertaken or conducted any
comprehensive patent infringement searches or studies. If any such third parties
hold  any  such conflicting rights, the Company may be required in the future to
stop  making,  using  or selling its products or to obtain licenses from and pay
royalties  to others, which could have a significant and material adverse effect
on  the  Company.  Further,  in  such  event, there can be no assurance that the
Company  would  be  able  to  obtain or maintain any such licenses on acceptable
terms  or  at  all.  (Also  see  "Risks  and  Uncertainties.")

PERSONNEL

Including  its  officers,  the Company employed five full-time employees at
December  31,  2001.  As  of  the  date of this filing, the Company employs four
full-time employees, as well as uses independent consultants and contractors for
a  variety of tasks, including engineering, manufacturing, software development,
shareholder relations, and sales and marketing. None of the Company's employee's
are  covered  by  collective bargaining agreements and the Company considers its
employee  relations  to  be  satisfactory.

GOVERNMENT  REGULATION

The  Company  is subject to regulation in several jurisdictions in which it
operates,  including  jurisdictions  that regulate check cashing fees and payday
advance  fees.  The Company is subject to federal and state regulations relating
to the reporting and recording of certain currency transactions. There can be no
assurance  that  additional state or federal statutes or regulations will not be
enacted  at  some  future date which could inhibit the ability of the Company to
expand,  significantly  decrease  the  service  charges for check cashing and/or
other  services,  or  prohibit  or more stringently regulate the sale of certain
goods  which  could  cause  a significant adverse effect on the Company's future
prospects.  States  have  different  licensing requirements. Some states require
that  the  owner  of  a check-cashing machine obtain the license; others require
that  the provider of the cash in the machine ("vault cash") obtain a license or
the  possessor  of  the  machine obtain the license or that the Company, jointly
with  the  owner,  possessor,  or  vault cash provider obtain a license. Certain
states  require that the entity to be licensed maintain certain levels of liquid
assets  for  each  location  at  which  a  machine  is  placed.

Under  the  bank  Secrecy Act regulations of the U.S. Department of the Treasury
(the  "Treasury  Department"),  transactions  involving  currency  in  an amount
greater than $10,000 or the purchase of monetary instruments for cash in amounts
from  $3,000  to  $10,000  must  be  recorded.  In  general,  every  financial
institution,  including  the  Company,  must  report  each  deposit, withdrawal,
exchange of currency or other payment or transfer, whether by, through or to the
financial institution, that involves currency in an amount greater than $10,000.
In  addition,  multiple  currency  transactions  must  be  treated  as  single
transactions  if  the  financial institution has knowledge that the transactions
are  by,  or  on  behalf  of any person and result in either cash in or cash out
totaling  more  than  $10,000  during  any  one  business  day.

There  can  be  no assurance that additional local, state or federal legislation
will  not  be  enacted or that existing laws and regulations will not be amended
which  could  have  a  material  adverse  effect on the Company's operations and
financial  condition.  (Also  see  "Risks  and  Uncertainties.")

RISKS  AND  UNCERTAINTIES

LIMITED  OPERATING  HISTORY: The Company began its check cashing operations
in  1998.  Accordingly,  the  Company  has  a  limited operating history and its
business  and  prospects  must  be  considered  in  light  of  the  risks  and
uncertainties to which early stage companies in rapidly evolving industries such
as  automated  check  cashing  are  exposed.  These risks include that its check
cashing  machines  may  not  operate  effectively  after they are sold on a much
larger scale, risks that competition and rapid technological change in the check
cashing  industry  could  adversely affect market acceptance of our products and
services;  risks  that automated check cashing machines may not be accepted, and
risks  that  the  Company's back-office POS services will not be widely accepted
and  provide  adequate  revenues. The Company cannot provide assurances that its
business  strategy  will  be  successful  or  that the Company will successfully
address  these  risks  and  the  risks  described  herein.

HISTORY  OF  LOSSES;  NO  ASSURANCE  OF  PROFITABILITY: Although the Company has
generated  some revenues from the sale of its check cashing machines, as well as
from  custom software application development, the Company is not profitable and
cannot  be  certain it will achieve sufficient revenue to achieve profitability.
The  Company  has incurred net losses throughout its history. As of December 31,
2001,  the  Company  had an accumulated deficit of $26.5 million. The Company is
altering  its  business  strategies,  which  may  further  delay  its ability to
generate revenues and profits. The Company expects that it will continue to lose
money  on  its  automated  check  cashing  operations  for  the  next two years.

NEED  FOR  FUTURE CAPITAL: The Company's business has not been profitable in the
past and it may not be profitable in the future. The Company may incur losses on
a  quarterly  or  annual  basis  for a number of reasons, some within and others
outside its control. (See "Potential Fluctuation in Quarterly Performance.") The
growth  of  the  Company's  business  will require the commitment of substantial
capital  resources. If funds are not available from operations, the Company will
need  additional  funds.  The  Company has sought and will continue to seek such
additional  funding  through  public  and  private  financing, including debt or
equity  financing.  Adequate funds for these purposes, whether through financial
markets  or  from other sources, may not be available when needed. Even if funds
are  available,  the  terms  under  which  the  funds  are  available may not be
acceptable  to the Company. Insufficient funds may require the delay, reduction,
or  elimination  of  some  or all of the Company's planned activities. (Also see
"Management's  Discussion  and  Analysis  of  Financial Condition and Results of
Operations  -  Liquidity  and  Capital  Resources.")

POTENTIAL FLUCTUATION IN QUARTERLY PERFORMANCE: Quarterly operating results
can  fluctuate  significantly depending on a number of factors, any one of which
could have a material adverse effect on the Company's results of operations. The
factors  include:  the  timing  of product/services announcements and subsequent
introductions  of new or enhanced products and/or services by the Company and by
its competitors, the availability and cost of inventories, the market acceptance
of  products  and services, changes in the Company's prices and in the Company's
competitors' prices, the timing of expenditures for staffing and related support
costs,  the  extent  and  success  of  advertising,  research  and  development
expenditures,  and  changes  in  general  economic  conditions.

The  Company  may experience significant quarterly fluctuations in revenues
and operating expenses as it introduces new products and services; especially as
it  repositions  itself  from  hardware  sales  to  POS  services.  Furthermore,
quarterly  results  are not necessarily indicative of future performance for any
particular  period.

PRODUCTS AND SERVICES MAY CONTAIN UNDETECTED AND UNRESOLVED DEFECTS: New or
enhanced  services  to  its  products  and  services  may  contain undetected or
unresolved software or hardware defects when they are first introduced or as new
versions  to  the  system  are  released. In the past the Company has discovered
errors  in  the  products  and  it  is possible design defects will occur in new
products or upgraded products. These defects could result in a loss of sales and
additional  costs  as  well  as  damage  to  our  reputation  and  the  loss  of
relationships  with  our  customers.

RISK  OF TECHNICAL PROBLEMS OR PRODUCT DEFECTS: There can be no assurances that,
despite  testing  and  quality  assurance  efforts  that may be performed by the
Company  and/or  its manufactures and subcontractors, that technical problems or
product  defects  will  not  be  found.  These problems or product defects could
result  in  the  loss  or  delay  in  market  acceptance and sales, diversion of
development  resources,  injury  to  the  Company's reputation, and/or increased
service  and support costs, any one of which could have material adverse effects
on  the  Company's  business,  financial  condition,  and  results in operation.

GOVERNMENT  REGULATION:  The  Company  is  subject  to  regulation  in  several
jurisdictions  in which it operates, including jurisdictions that regulate check
cashing  fees  and payday advance fees. The Company could also become subject to
federal and state regulations relating to the reporting and recording of certain
currency  transactions.  There  can  be  no  assurance  that additional state or
federal  statutes  or  regulations will not be enacted at some future date which
could  inhibit  the ability of the Company to expand, significantly decrease the
service  charges  for  check  cashing, payday advances and/or other services, or
prohibit  or  more  stringently regulate the sale of certain goods and services,
which  could  cause  a  significant  adverse  effect  on  the  Company's  future
prospects.

HIGHLY COMPETITIVE INDUSTRY: The markets for the Company's products and services
are  highly competitive. The Company's ability to compete in its markets depends
on  a  number of factors, including selling prices, product performance, product
distribution,  marketing  ability,  and  customer  support.

These  competitive  conditions may adversely affect the Company's revenues,
profitability and ability to expand. The Company competes with traditional check
cashing  businesses performing the services in a non-automated, over-the-counter
manner  and  with  other  companies  that  use  automated  check-cashing kiosks.
Because  the automated check cashing technology is relatively new and has only a
limited  operating  history, competition is limited. However, check cashing is a
growing  industry  and  traditional check cashing businesses are now considering
automating  some  of  their  operations  as  well.

PRODUCT  LIVES  AND  TECHNOLOGICAL  CHANGE:  The  markets for the Company's
products  and  services  are  characterized  by rapidly evolving technology. The
future  success of the Company will depend on its ability to continue to develop
and  deliver  competitive  products  and  services.  Advances in technology will
require  increased investment in product development to develop and maintain the
Company's  market position. If the Company is unable to develop new, competitive
products and services in a timely manner, its financial condition and results of
operations  will  be  adversely  affected.

DEVELOPING  MARKETS AND APPLICATIONS: The markets for the Company's products and
services  are  relatively new and are still developing. Management believes that
there has been growing market acceptance for check cashing services. The Company
cannot  be  certain,  however,  that  these markets will continue to grow. Other
technologies  are  constantly  evolving  and  improving.  The  Company cannot be
certain  that  products  and services based on these other technologies will not
have  a  material  adverse  effect  on the demand for its products and services.

DEPENDENCE  UPON  SUPPLIERS:  The Company depends on acquiring products and
software  from  outside suppliers. The Company relies heavily on these suppliers
for  upgrades  and  support.  The  Company  cannot  be  certain  that all of its
suppliers will continue to make their products and technologies available to the
Company,  or  that  these  suppliers  will  not  provide  their  products  and
technologies  to  other  companies  simultaneously.

COMPONENT  AVAILABILITY AND COST; DEPENDENCE ON SINGLE SOURCES: The Company
presently outsources the production of some of its manufactured products through
a number of vendors. These vendors assemble products, using components purchased
by  the  Company  from  other  sources or from their own inventory. The terms of
supply  contracts  are  negotiated  separately  in  each  instance. Although the
Company  has  not experienced any difficulty in the past in engaging contractors
or in purchasing components, present vendors may not have sufficient capacity to
meet  projected  market  demand  for  the  Company's  products  and  alternative
production  sources  may  not  be  available  without  undue  disruption.

While  most components are available locally from multiple vendors, certain
components  used  in  Greenland products are only available from single sources.
Although  alternative  suppliers  are readily available for many components, for
some  components  the  process  of  qualifying  replacement suppliers, replacing
tooling  or  ordering  and  receiving  replacement components could take several
months  and cause substantial disruption to operations. Any significant increase
in  component prices or decrease in component availability could have a material
adverse  effect  on  the  Company's  business and overall financial performance.

RISKS  RELATED  TO ACQUISITIONS: In order to grow the business, the Company
intends and may acquire businesses that management believes are complementary to
its core check cashing and POS services business. To successfully implement this
strategy,  the  Company  must  identify suitable acquisition candidates, acquire
these  candidates on acceptable terms, integrate their operations and technology
successfully  with  the  Company, and retain existing customers and maintain the
goodwill  of  the  acquired  business.  The  Company  may fail in its efforts to
implement  one  or  more  of  these  tasks.  Moreover,  in  pursuing acquisition
opportunities,  the  Company  may  compete  for  acquisition  targets with other
companies  with  similar  growth  strategies.  Some  of these competitors may be
larger and have greater financial and other resources than those of the Company.
Competition  for these acquisition targets likely could also result in increased
prices  of  acquisition targets and a diminished pool of companies available for
acquisition.  Overall  financial  performance  will  be materially and adversely
affected if the Company is unable to manage internal or acquisition-based growth
effectively.

Acquisitions  involve  a  number  of risks, including: integrating acquired
products  and  technologies  in  a  timely  manner;  integrating  businesses and
employees  with  the  Company's  business;  managing  geographically-dispersed
operations;  reductions  in  the  Company's  reported  operating  results  from
acquisition-related charges and amortization of goodwill; potential increases in
stock  compensation  expense  and  increased compensation expense resulting from
newly-hired  employees; the diversion of management attention; the assumption of
unknown liabilities; potential disputes with the sellers of one or more acquired
entities;  the  Company's  inability  to  maintain  customers  or goodwill of an
acquired  business;  the  need  to  divest  unwanted assets or products; and the
possible  failure  to  retain  key  acquired  personnel.

Client satisfaction or performance problems with an acquired business could
also  have  a  material  adverse  effect  on  the  Company's reputation, and any
acquired  business  could  significantly under perform relative to expectations.
The  Company is currently facing all of these challenges and its ability to meet
them  over  the  long  term  has  not been established. As a result, the Company
cannot  be  certain  that  it  will  be  able  to integrate acquired businesses,
products  or  technologies successfully or in a timely manner in accordance with
its  strategic objectives, which could have a material adverse effect on overall
financial  performance.

In  addition,  if the Company issues equity securities as consideration for
any  future  acquisitions,  existing  stockholders  will  experience  ownership
dilution  and these equity securities may have rights, preferences or privileges
superior  to those of Greenland common stock. (Also see "Future Capital Needs.")

DEPENDENCE  ON  KEY  PERSONNEL: The success of the Company is dependent, in
part,  upon its ability to attract and retain qualified management and technical
personnel.  Competition  for these personnel is intense, and the Company will be
adversely  affected if it is unable to attract additional key employees or if it
loses  one  or more key employees. The Company may not be able to retain its key
personnel.

POSSIBILITY  OF  CHALLENGE TO PRODUCTS OR INTELLECTUAL PROPERTY RIGHTS: The
Company  intends  to  protect  its  technology  by  filing  copyright and patent
applications  for the patentable technologies that it considers important to the
development  of  its  business.  The  Company  also  intends  to rely upon trade
secrets,  know-how  and  continuing  technological  innovations  to  develop and
maintain  competitive  advantage.

The  Company  has  filed  a copyright application with the U. S. Patent and
Trademark  Office  with  respect  to its server technology. The Company may file
patent applications with respect to its kiosk system and any other technology it
has  developed  for use with the MAXcash ABM. There can be no assurance that any
U.S. Patent application filed by the Company, if and when filed, will be granted
or,  if  obtained,  will  sufficiently protect the Company's proprietary rights.
Even  if  the patents the Company applies for are granted, they do not confer on
the  Company  the  right  to  manufacture  and  market products if such products
infringe patents held by others. The Company has not undertaken or conducted any
comprehensive patent infringement searches or studies. If any such third parties
hold  any  such conflicting rights, the Company may be required in the future to
stop  making,  using  or selling its products or to obtain licenses from and pay
royalties  to others, which could have a significant and material adverse effect
on  the  Company.  Further,  in  such  event, there can be no assurance that the
Company  would  be  able  to  obtain or maintain any such licenses on acceptable
terms  or  at  all.

Additionally,  competitors  may  assert  that  the  Company infringes their
patent  rights.  If  the Company fails to establish that it has not violated the
asserted  rights,  it  could  be  prohibited  from  marketing  the products that
incorporate the technology and it could be liable for damages. The Company could
also  incur  substantial  costs  to redesign its products or to defend any legal
action  taken  against  it.

RELIANCE ON INDIRECT DISTRIBUTION: Sales of the MAXcash ABM are principally
made  through  distributors,  which  may  carry  competing  product lines. These
distributors  could  reduce  or  discontinue  sales of Greenland products, which
could  materially  and adversely affect the future success of the Company. These
independent  distributors  may  not  devote  the  resources necessary to provide
effective  sales  and  marketing  support  of  Greenland  products. In addition,
distributors  are  not  required  to carry any inventory of MAXcash ABM systems.
These  distributors  are  substantially dependent on general economic conditions
and  other  unique  factors affecting the Company's markets. Management believes
that  the  growth  and  success of the Company, in the near-term, will depend in
part  upon  its  distribution  channels.  The  business  could be materially and
adversely  affected  if  the Company's distributors fail to provide sales of the
Company's  products.

VOLATILITY  OF  STOCK  PRICE:  The market price of Greenland's common stock
historically  has  fluctuated  significantly.  The  Company's  stock price could
fluctuate  significantly in the future based upon any number of factors such as:
general  stock  market  trends;  announcements  of  developments  related  to
Greenland's  business;  fluctuations  in  the  Company's  operating  results;
announcements  of technological innovations, new products or enhancements by the
Company  or  its  competitors;  general  conditions in the markets served by the
Company;  general  conditions  in  the  U.S. economy; developments in patents or
other  intellectual  property  rights;  and  developments  in  the  Company's
relationships  with  its  customers  and  suppliers.

In  addition,  in recent years, the stock market in general, and the market
for  shares  of  technology stocks in particular, have experienced extreme price
fluctuations,  which  have  often been unrelated to the operating performance of
affected  companies.  Similarly,  the market price of Greenland common stock may
fluctuate  significantly based upon factors unrelated to the Company's operating
performance.

ABSENCE  OF  DIVIDENDS:  The Company has not paid any cash dividends on its
common  stock  to  date  and it does not anticipate paying cash dividends in the
foreseeable  future.

LIQUIDITY  OF  COMMON STOCK: Trading of Greenland common stock is conducted
over-the-counter  through the NASD Electronic Bulletin Board and covered by Rule
15g-9 under the Securities Exchange Act of 1934. Under this rule, broker/dealers
who  recommend  these securities to persons other than established customers and
accredited  investors  must make a special written suitability determination for
the  purchaser  and  receive  the purchaser's written agreement to a transaction
prior  to  sale.  Securities are exempt from this rule if the market price is at
least  $5.00  per  share.

The Securities and Exchange Commission adopted regulations that generally define
a  "penny  stock"  as  any  equity security that has a market price of less than
$5.00  per  share.  Additionally,  if  the  equity security is not registered or
authorized  on  a  national securities exchange or the Nasdaq and the issuer has
net  tangible assets under $2,000,000, the equity security also would constitute
a  "penny  stock."  Greenland common stock does constitute a penny stock because
our  common  stock  has  a market price less than $5.00 per share and our common
stock  is  not  quoted  on  Nasdaq.  As  Greenland common stock falls within the
definition  of penny stock, these regulations require the delivery, prior to any
transaction  involving  Greenland  common  stock,  of  a  disclosure  schedule
explaining the penny stock market and the risks associated with it. Furthermore,
the  ability of broker/dealers to sell Greenland common stock and the ability of
shareholders  to  sell  Greenland  common  stock  in the secondary market may be
limited.  As  a  result,  the  market  liquidity  for  Greenland common stock is
adversely  affected.  The  Company  can  provide  no  assurance  that trading in
Greenland  common stock will not be subject to these or other regulations in the
future,  which  may  negatively  affect  the  market for Greenland common stock.
Furthermore,  this  lack  of  liquidity  also may make it more difficult for the
Company  to  raise  capital  in  the  future.

ITEM  2.

DESCRIPTION  OF  PROPERTY

The  Company  currently  occupies approximately 3,000 square feet of office
space at 2111 Palomar Airport Road, Suite 200, Carlsbad, California. The Company
entered into a three-year lease, commencing April 1, 2001 and pays approximately
$6,500  per  month  rental  payment.

ITEM  3.

LEGAL  MATTERS

On  October  12,  2000, the Company filed a Demand for Arbitration with the
American  Arbitration  Association  against  Seren  Systems,  Inc. The Complaint
sought  preliminary  relief  in  a  dispute  regarding the ownership of software
technology  paid  for  by  the Company, which Seren Systems, Inc. has refused to
deliver  and/or make available to the Company. As a result, the Company has been
unable to fulfill its obligations with respect to certain purchase orders and/or
contracts,  with  respect  to the above-mentioned dispute. The November 26, 1998
Consulting  Agreement  by  and  between  the  Company  and  Seren  Systems, Inc.
stipulates  that any controversy between the parties shall be settled by binding
arbitration.  This  case  was resolved in 2001 without a finding of liability on
the Company's part and with confirmation of it's ownership of certain source and
operating  codes.

The  Company,  along  with Seren Systems ("Seren"), its then current and primary
software developer and supplier for its own ABM terminals, was in the process of
completing  development  of  the  check  cashing service interface to the Mosaic
Software  host  system  being  implemented  to  support a large network of V.com
terminals.  In September 2000, Seren unilaterally halted testing and effectively
shut-down  any  further  check  cashing  development  for the V.com project. The
parties participating in this project may have been financially damaged, related
to  the  delay in performance by the Company and Seren. None of the parties have
brought  suit  against  the  Company  and/or  Seren  at  this  time. There is no
assurance,  however,  that  such  suit(s)  will  not  be  brought in the future.
On May 23, 2001 the Company filed a Complaint in San Diego County naming Michael
Armani  as  the  defendant.  The Complaint alleges breach of contract by Michael
Armani  in  connection with two separate stock purchase agreements.  The Company
seeks  damages in the amount of $474,595.  On August 7, 2001 the Company filed a
request  for  Entry  of Default against Mr. Armani in the amount of $474,595 and
the  court  granted entry of default.  Subsequently Mr. Armani filed a motion to
set  aside  the  entry of default and on October 26, 2001 the court granted said
motion  and the entry of default was set aside.  The court granted Mr. Armani 10
days  to  file  a  responsive  to  the  Company's  Compliant.  On April 12, 2002
Greenland  and Mr. Armani entered into a settlement agreement whereby Mr. Armani
agreed to make certain payments to Greenland and each party dismissed all claims
against  the  other  (Also  see  Subsequent  Events")

On  May  23,  2001 Arthur Kazarian, Trustee for the General Wood Investment
Trust  (the  "Landlord")  filed a Complaint in San Diego County naming Greenland
Corporation  as  a defendant.  The Complaint alleges breach of contract pursuant
to the terms of the lease agreement between the Company and the Landlord for the
real  property  located  at  1935  Avenida  Del  Oro,  Oceanside, California and
previously  occupied  by the Company.  The Complaint seeks damages in the amount
of approximately $500,000.  Although the Company remains liable for the payments
remaining  for  the  term of the lease, the Landlord has a duty to mitigate said
damages.  The  Company  recorded  a lease termination liability of $275 thousand
during  the  year  ended  December  31,  2001.  The Company has retained outside
counsel  for  representation  in  this  matter  and  settlement  discussions are
presently  being  conducted.

The  Company  entered  into  an  agreement  with  Intellicorp,  Inc.
("Intellicorp")  whereby Intellicorp agreed to invest $3,000,000 in exchange for
board seats and stock. After making the initial payment of $500,000, Intellicorp
defaulted  on  the  balance.  The  Company  is  seeking a recovery of the unpaid
$2,500,000.  The  case  is in discovery stage. The defendant's ability to pay is
unknown.  The  Company  had  issued  46,153,848  shares  of common stock for the
investment.  The  shares  were  returned  back  to  the  Company and are pending
cancellation.  These  shares  have been excluded from the issued and outstanding
shares  in  the  financial  statements.

On  July  5,  2001  Max  Farrow,  a  formal officer of the Company, filed a
Complaint  in  San  Diego County naming Greenland Corporation, Thomas J. Beener,
Intelli-Group,  Inc.,  Intelli-Group  LLC  and Intelli-Corp, Inc. as defendants.
The  Complaint  alleges  breach  of  contract  in  connection  with Mr. Farrow's
resignation  as  an  officer  and  director of the Company in January 2001.  The
Company  believes  that  the  Company  and  Mr. Beener have valid defense to the
allegations  of  Mr.  Farrow.
Fund Recovery, a temporary staffing services filed a complaint against Greenland
Corporation  alleging  breach of contract. Trial is set for June 2002. A summary
judgment  motion  is  pending.  The Company recorded the liability amount of $14
thousand  in  the  consolidated  financial  statements.

The  Company's  officers  and directors are aware of no other threatened or
pending  litigation, which would have a material, adverse effect on the Company.
From  time  to time the Company is a defendant (actual or threatened) in certain
lawsuits  encountered  in the ordinary course of its business, the resolution of
which,  in  the opinion of management, should not have a material adverse effect
on  the  Company's  financial  position  results  of  operations, or cash flows.

ITEM  4.

SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

NONE.
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<PAGE>
PART  II.
---------

ITEM  5.

MARKET  FOR  REGISTRANT'S  COMMON  STOCK  AND  RELATED  STOCKHOLDER  MATTERS

The  Company's common stock is traded in the over-the-counter market, and quoted
on  the  OTC  Electronic  Bulletin  Board under the symbol "GLCP". The Company's
common  stock has traded, during the fiscal year ended December 31, 2001 between
$.42  and $0.01 per share. The number of shares of record of common stock, $.001
par  value,  of the Company was 167,382,527 at December 31, 2001 and 230,920,378
at  March  31,  2002.  The following table sets forth the quarterly high and low
last  sales  prices  per  share  for  the  common  stock  as reported by the OTC
Electronic  Bulletin  Board:

<TABLE>
<CAPTION>

<S>                       <C>    <C>
                          HIGH   LOW
                          -----  -----
Year ended Dec. 31, 2000
------------------------
     First quarter . . .  $1.94  $0.53
     Second quarter. . .   0.83   0.23
     Third quarter . . .   0.36   0.13
     Fourth quarter. . .   0.19   0.03
Year ended Dec. 31, 2001
     First quarter . . .  $0.42  $0.09
     Second quarter. . .   0.09   0.03
     Third quarter . . .   0.04   0.01
     Fourth quarter. . .   0.04   0.01
</TABLE>

On March 30, 2002, the last sales price for the common stock as reported by
the  OTC Electronic Bulletin Board was $0.004 per share. On March 31, 2002 there
were  approximately  6,500  shareholders  of  record  of  the  common  stock.
No  cash  dividends  have  been paid by the Company on its common stock, and the
Company does not currently intend to pay cash dividends on its common stock. The
current  policy  of  the  Company's Board of Directors is to retain earnings, if
any,  to  provide  funds  for operation and expansion of the Company's business.
Such  policy will be reviewed by the Board of Directors of the Company from time
to  time  in  light of, among other things, the Company's earnings and financial
position  and  limitations  imposed  by  its  lenders,  if  any.

ITEM  6.

MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATION

The following discussion pertains to the Company's operations and financial
condition  as  of  December 31, 2001, and should be read in conjunction with the
Company's  financial  statements  and  notes  thereto,  and  other  financial
information  included  elsewhere  in  this  report.

The  Company  has  developed  proprietary  software that is capable of providing
support  for  delivery  to  consumers  of  a range of on-line financial services
including  check  cashing, ATM, money orders and phone card dispensing services.
The  Company  has  developed,  manufactured and has delivered limited numbers of
freestanding  kiosks,  under the trademarked brand name MAXcash ABM. The unit is
similar  in  appearance  to  an  ATM  machine.  The  Company  acquired  its base
technology  in  May  1998,  when  Check  Central was incorporated into Greenland
Corporation  as  a  wholly-owned  subsidiary.

The  Company has invested, and continues to invest capital, time and effort
in  the  development  and  evolution  of  its  back-office,  risk management and
transaction  support  software  systems.  Management,  as  a result of the Seren
litigation  and the default by Intellicorp, determined that its original plan to
develop, produce, and successfully market and support its MAXcash ABM system was
beyond  the  scope of its available resources. However, management also believes
that  it  has  created  a  convenient  and  cost effective system for check cash
transaction processing and the reporting of activity and earnings generated from
its  check  cashing ABMs through secure networks. Accordingly, the Company hopes
to  expand  its  scope from distribution, and support of its proprietary MAXcash
ABM to also providing support for the ABM-like terminals of other manufacturers.
Furthermore,  the  Company  believes  that  it  can  be  successful in providing
back-office  and  on-line  transaction  support  to  other  hardware vendors and
retailers  through  a  network  and software system of its own design, the Check
Central  Solutions.

The Company's strategy for marketing and sales of the MAXCash ABM, during fiscal
2001,  was  directed  at locating distributors of ATM machines and entering into
distribution  agreements.  Although  the  Company  signed  a  number  of  such
agreements,  significant  unit sales did not materialize, however, primarily due
to  the Seren dispute. (Also see "Risks and Uncertainties" and "Legal Matters.")
The  Company  will  continue  to seek distributors for the MAXcash ABM and feels
confident  that  with the resolution of the Seren litigation, the willingness of
distributors  to  handle  the  MAXcash  ABM  will  increase.

The  Company's  strategy has been oriented around two revenue streams. The first
was  the  sale of the MAXcash ABM. The second revenue stream was to be generated
from the fees earned in connection with the various banking services provided on
each  of  the  machines  in  operation.  However,  without sufficient numbers of
machines  in  the field, this revenue stream did not produce material results in
fiscal  2001.

Management's  goal  is  to  build a solid foundation that will provide operating
revenue  and opportunity for profitability. This goal will be achieved through a
business  strategy  of  continued  sales  of  the  MAXcash  ABM,  licensing  of
intellectual  property, acquisitions of check cashing stores and acquisitions of
complimentary  companies.

In  implementing  its  goal,  management  has  consummated  the  following
transactions:

-     Entered  into  licensing  agreement  with  CardPlus  International,  Inc
-     Entered  into  licensing  agreement  with  Automated  Cash  Machines
-     Acquired  W3M,  Inc
-     Acquired  a  5%  interest  in  ZZYZX  Peripherals,  Inc.

In  addition, management is exploring the purchase of check cashing stores,
purchase  of certain complimentary companies, expansion of its licensing program
and  developing  an  in-house  processing  center.

Although the Company is optimistic about achieving its goals and although it has
consummated  certain  transactions  there  is  no assurance that management will
achieve its goals. (Also see "Risks and Uncertainties" and "Business Strategy.")

RESULTS  OF  OPERATIONS

REVENUE

The  Company reported total revenues of $523 thousand from its two segments
for  the  year ended December 31, 2001 compared to revenues of $660 thousand for
the  year  ended  December  31,  2000,  which represents a $137 thousand, or 21%
decrease.   The  Company's  sales  operations  for  its  principal  product, the
Maxcash ABM, was temporarily suspended primarily due to a legal dispute with its
software  provider and the associated financial risks to the Company represented
by  the  dispute.

The  Company  earned  revenues from the sale of Check Cashing ATM's of $128
thousand  and  $315  thousand  for  the years ended December 31, 2001, and 2000,
respectively.  The  company  sold  7  ABMs  in  2001,  and  10  ABMs  in  2000.

COST  OF  SALES

The  Company  incurred  total  costs  of revenues of $876 thousand (167% of
revenues)  and  $3.0  million  (461%  of revenues) from its two segments for the
years ended December 31, 2001, and 2000, respectively. The costs incurred in the
sale  segment  were $317 thousand and $776 thousand for the years ended December
31,  2001  and  2000.  This  $459  thousand,  or  59%  decrease  is  primarily
attributable  to a decrease in direct material and overhead costs as a result of
decreased  machine  production.  Manufacturing  costs  include  fixed  overhead
expenses  for items such as supervision, testing, and facilities, as well as the
direct  cost  of  the  machines sold.  The gross margin on machine sales for the
years  ended  December  31,  2001,  and  2000,  was  $(189)  thousand and $(461)
thousand.  Management  had  anticipated greater improvements in the gross margin
on machine sales as a result of sales volume increasing to a level sufficient to
absorb  overhead  costs.  Such  increases  did  not  materialize.

Costs  associated  with  transaction processing, included in cost of sales, were
$559  thousand  and  $2.3 million for the years ended December 31 2001 and 2000,
respectively,  resulting  in  gross  margins  on  transaction  revenue of $(164)
thousand  and  $(1.9)  million,  respectively.  Processing  costs included fixed
overhead  expenses  such  as  the  amortization  of  software development costs,
depreciation,  labor, and communications.  The decrease was due primarily to the
temporary  shut  down  of  the  processing  of  the  machines.

OPERATING  EXPENSES

Operating  expenses  for  the  years ended December 31, 2001, and 2000 were
$3.7  million and $4.8 million, respectively. The 23% decrease was due primarily
to  the  temporary  shut  down  of  the  manufacturing  of  the  machines.

Research  and Development Costs for the years ended December 31, 2001, and 2000,
respectively  of $0 and $553 thousand, respectively, this decreased reflects the
Company's  temporary  discontinuation of it support for the Maxcash ABM product.


In March 2000, the Company repurchased the exclusive distribution rights to
the  Master  Distribution  Agreement  with  SmartCash  ATM, Ltd. (SmartCash). In
consideration, the Company agreed to loan SmartCash $200 thousand collateralized
by  333  thousand  shares of Greenland Corporation common stock, release certain
restrictions  on  Company  common  stock  held  by  SmartCash, issue warrants to
purchase  500  thousand  shares  of  Company  common  stock, and continue to pay
commissions on sales of machines sold by certain sales representatives until the
earlier  of March 2002, or said commissions equal $320 thousand. During December
2000, the Company fully reserved against the $200 thousand note receivable given
the  probability  of collection from SmartCash, and the decrease in the value of
the  Company's  collateral. During the fiscal year ended December 31, 2001, this
note  was  written  off.

NON-OPERATING  EXPENSES

Non-operating expense of $976 thousand for the year ended December 31, 2001
increased  571  thousand  from  2000.  Expenses  incurred  in 2001 included $397
thousand  loss  on  the sale of investments, a $275 thousand expense accrued for
future  lease  payments  potentially  due  under the Company's terminated office
space  operating  lease,  and  a  $150  impairment  on  investment.

NET  LOSS

The  net  loss for the year ended December 31, 2001 was $5 million compared
to  $7.5  million  for  fiscal  year  2000,  a decrease of $2.5 million, or 33%.
Losses  were  reduced due primarily to reduced cost of good sold associated with
temporary  discontinuation  of  its  Maxcash  ABM  sales  and  support  efforts.

LIQUIDITY  AND  CAPITAL  RESOURCES

Historically,  the  Company  has  financed  its  operations  through  cash
generated  from  the  sale of equity securities and debt financing. To date, the
Company  has not been able to support its operations from revenues through sales
of  products  or  services.

At  December  31, 2001, the Company's had a working capital deficit of $1.8
million  compared with a working capital deficit of $1.1 million at December 31,
2000.  This  increase  of $632 thousand, or 56% resulted from both a decrease in
cash  of  $68 thousand, as well as an increase in accrued expense $600 thousand.
Stockholders'  equity  decreased  for  the year ended December 31, 2001 from the
previous  fiscal  year  by  $1  million,  due  primarily  to  the  $5.2  million
comprehensive  loss,  which  was  offset  by  increased  paid-in-capital of $4.7
million.

The  Company's  officers  and directors are aware of no other threatened or
pending  litigation,  not  otherwise  discussed  in Item 3, Legal Matters, which
would  have  a  material,  adverse  effect on the Company. From time to time the
Company is a defendant (actual or threatened) in certain lawsuits encountered in
the  ordinary course of its business, the resolution of which, in the opinion of
management, should not have a material adverse effect on the Company's financial
position  results  of  operations,  or  cash  flows.
The  Company's  auditors  have  expressed  their uncertainty as to the Company's
ability  to  continue  as  a  going  concern.  They  cite  recurring losses from
operations,  the  Company's  working  capital  deficiency,  and  limited  cash
resources.

In  order to address this uncertainty, the Company has taken steps to raise
additional  funds  to finance its operations, including the potential for making
strategic  acquisitions,  which  could  better  position the Company for growth.

On  April 2, 2001, the Company announced that it was temporarily suspending
its check cashing operations in order to minimize its check cashing risk, reduce
operating  losses,  and  to  conserve  capital.

SUBSEQUENT  EVENTS

Subsequent  to  December  31, 2001, the Company issued 63,537,851 shares of
common  stock  for  services  and for shareholders who exercised their warrants.

On  January  31,  2002, the Company entered into a stock purchase agreement
("Agreement") to purchase all of the issued and outstanding shares of W3M, Inc.,
a California corporation doing business as Paradigm Cabling Systems (the "PCS");
and ASHFORD CAPITAL LLC, a California Limited Liability Company, REGENTS CAPITAL
WEST,  MICHAEL CUMMINGS, MONDO MARSHALL, GREG WILBER, SANDRA STEWART and JOHN M.
PITKIN  ("Sellers"),  the  shareholders of the Company. The Company acquired PCS
for  $2,916,667,  payable  pursuant  to  the terms of a Stock Purchase Agreement
dated  January 31, 2002, a Secured Promissory Note dated February 1, 2002, and a
Pledge  Agreement, dated February 1, 2002. The promissory note bears an interest
rate  of 7% per annum, is payable in installments of $1,000,000 by June 30, 2003
and  $1,916,667  by  June  30, 2004. The promissory note is secured by pledge of
PCS's  stock.  The  Company  contemplated  commencing a private placement equity
offering  on or about June 30, 2002. The acquisition will be accounted for under
SFAS  No.141  and  the  acquisition  costs of approximately $1.9 million will be
allocated  to  the  assets  acquired  and  the  liabilities  assumed  based upon
estimates  of  their  respective  fair  values.

Subsequent  to  December  31,  2001,  Thomas A. Hyde Jr., resigned as Chief
Executive  Officer  and  Chairman  of  the  Board  of  Greenland  Corporation.
Subsequent  to  December  31,  2001, Gene Cross became Chairman of the Board and
Thomas  Beener  was  appointed Chief Executive Officer of Greenland Corporation.
Subsequent to December 31, 2001, the Company entered into a settlement agreement
with  Michael  Armani whereby Mr. Armani agreed to make certain cash payments to
the  Company  and  the  parties  entered  into  mutual  release  of  all claims.

<PAGE>
ITEM  7.

FINANCIAL  STATEMENTS  AND  SUPPLEMENTARY  DATA

INDEX  TO  CONSOLIDATED  FINANCIAL  STATEMENTS

<TABLE>
<CAPTION>

<S>                                                                  <C>
                                                                     PAGE
                                                                     ----
Report of independent accountants . . . . . . . . . . . . . . . . .    18
Consolidated balance sheets as of December 31, 2001         . . . .    20
Consolidated statements of operations for the years ended
     December 31, 2001 and 2000 . . . . . . . . . . . . . . . . . .    21
Consolidated statements of stockholders' equity for the years ended
     December 31, 2001 and 2000 . . . . . . . . . . . . . . . . . .    22
Consolidated statements of cash flows for the years ended
     December 31, 2001 and 2000 . . . . . . . . . . . . . . . . . .    23
Notes to consolidated financial statements. . . . . . . . . . . . .    24
</TABLE>

<PAGE>
               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

To  the  Board  of  Directors  and  Stockholders  of
Greenland  Corporation  and  Subsidiary
Oceanside,  California

     We  have  audited  the  accompanying consolidated statements of operations,
stockholders'  equity,  and  cash  flows  for  the year ended December 31, 2000.
These  financial  statements are the responsibility of the Company's management.
Our  responsibility is to express an opinion on these financial statements based
on  our  audit.

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

     In  our  opinion,  the  December 31, 2000 consolidated financial statements
referred  to  above  present  fairly,  in  all  material  respects,  Greenland
Corporation  and  Subsidiary's results of operations and cash flows for the year
then  ended  in  conformity with accounting principles generally accepted in the
United  States.

     The  accompanying  consolidated  financial  statements  have  been prepared
assuming  that  the  Company  will continue as a going concern.  The Company has
suffered  recurring  losses from operations, has a working capital deficiency of
$1,139,000  and  a  retained  deficit  of  $21,288,000 at December 31, 2000, and
limited cash resources with which to carry out management's plans.  As discussed
in  Note 5, these conditions raise substantial doubt about the Company's ability
to  continue as a going concern.  Management's plans regarding these matters are
also  described  in  Note  5.  The  financial  statements  do  not  include  any
adjustments  that  might  result  from  the  outcome  of  this  uncertainty.

Levitz,  Zacks  &  Ciceric
San  Diego,  California
April  6,  2001

<PAGE>
                              GREENLAND CORPORATION
                           CONSOLIDATED BALANCE SHEET
                                DECEMBER 31, 2001

<TABLE>
<CAPTION>



<S>                                                              <C>
(in thousands, except share amounts)
ASSETS
---------------------------------------------------------------

                                                                 DECEMBER 31, 2001
CURRENT ASSETS:
     Cash & cash equivalents. . . . . . . . . . . . . . . . . .  $                7
     Accounts receivable, net . . . . . . . . . . . . . . . . .                 264
     Accounts receivable-officers . . . . . . . . . . . . . . .                   5
     Prepaid expenses . . . . . . . . . . . . . . . . . . . . .                  32
     Inventory. . . . . . . . . . . . . . . . . . . . . . . . .                 146
                                                                 -------------------
          Total current assets. . . . . . . . . . . . . . . . .                 454

PROPERTY AND EQUIPMENT, NET . . . . . . . . . . . . . . . . . .                 538

OTHER ASSETS
     Investment . . . . . . . . . . . . . . . . . . . . . . . .                 450
     Intangibles, net . . . . . . . . . . . . . . . . . . . . .               2,551
     Other assets . . . . . . . . . . . . . . . . . . . . . . .                  33
                                                                 -------------------
                                                                 $            4,026
                                                                 ===================

LIABILITIES AND STOCKHOLDERS' EQUITY
---------------------------------------------------------------

CURRENT LIABILITIES:
     Accounts payable . . . . . . . . . . . . . . . . . . . . .  $              677
     Accrued expense. . . . . . . . . . . . . . . . . . . . . .                 879
     Note payable . . . . . . . . . . . . . . . . . . . . . . .                 438
     Note payable-related party . . . . . . . . . . . . . . . .                  89
     Current  maturities of obligations under capital lease . .                 142
                                                                 -------------------
          Total current liabilities . . . . . . . . . . . . . .               2,225

Long term debt
Obligations under capital lease less current maturities . . . .                 161

COMMITMENTS

STOCKHOLDERS' EQUITY
     Convertible Preferred Class A stock, $.001 par value;
        authorized shares 10,000, 60 shares issued and
        outstanding . . . . . . . . . . . . . . . . . . . . . .                   -
     Common stock, $.001 par value; authorized shares
        500,000,000, 167,382,527 shares issued and outstanding.                 169
     Additional paid in capital . . . . . . . . . . . . . . . .              29,136
     Subscribed shares and receivables. . . . . . . . . . . . .              (1,143)
     Accumulated deficit. . . . . . . . . . . . . . . . . . . .             (26,522)
                                                                 -------------------
          Total stockholders' equity. . . . . . . . . . . . . .               1,640
                                                                 -------------------
                                                                 $            4,026
                                                                 ===================

</TABLE>
<PAGE>
                              GREENLAND CORPORATION
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                 FOR THE YEARS ENDED DECEMBER 31, 2001 AND 2000

<TABLE>
<CAPTION>



<S>                                                <C>             <C>
(in thousands). . . . . . . . . . . . . . . . . .           2001             2000
                                                   --------------  ---------------

Net Sales . . . . . . . . . . . . . . . . . . . .  $         523   $          660

Cost of Sales . . . . . . . . . . . . . . . . . .            876            3,044
                                                   --------------  ---------------

Gross loss. . . . . . . . . . . . . . . . . . . .           (353)          (2,384)

Operating Expenses:
     General & administrative expenses. . . . . .          3,676            3,671
     Research & development costs . . . . . . . .              -              553
     Repurchase of distributor agreement. . . . .              -              566
                                                   --------------  ---------------

Total operating expenses. . . . . . . . . . . . .          3,676            4,790
                                                   --------------  ---------------

Loss from operations. . . . . . . . . . . . . . .         (4,029)          (7,174)

Non-operating income (expense):
     Reserve for note receivable. . . . . . . . .              -             (200)
     Loss on sale of investments. . . . . . . . .           (397)            (150)
     Impairment of investment . . . . . . . . . .           (150)
     Loss on sale and disposal of asset . . . . .            (66)               -
     Interest expense . . . . . . . . . . . . . .           (134)             (76)
     Loss on termination of lease . . . . . . . .           (275)               -
     Gain on sale of asset. . . . . . . . . . . .             46                -
     Interest income. . . . . . . . . . . . . . .              -               21
                                                   --------------  ---------------
Total non-operating income (expense). . . . . . .           (976)            (405)

Loss before income tax and extraordinary item . .         (5,005)          (7,579)

Provision for income tax. . . . . . . . . . . . .              2                2
                                                   --------------  ---------------

Net Loss before extraordinary item. . . . . . . .         (5,007)          (7,581)

Extraordinary item - loss on settlement of debts.            (77)               -
                                                   --------------  ---------------

Net Loss. . . . . . . . . . . . . . . . . . . . .         (5,084)          (7,581)

Beneficial conversion feature of preferred stock.           (150)               -
                                                   --------------  ---------------

Net loss applicable to common shareholders. . . .         (5,234)          (7,581)

Other comprehensive loss, net of tax
     Unrealized loss on investment. . . . . . . .              -             (315)
                                                   --------------  ---------------

Comprehensive loss. . . . . . . . . . . . . . . .  $      (5,234)  $       (7,896)
                                                   ==============  ===============

Basic and diluted weighted average number of
    common stock outstanding. . . . . . . . . . .        122,213           56,108
                                                   ==============  ===============

Basic and diluted net loss per share. . . . . . .  $       (0.04)  $        (0.14)
                                                   ==============  ===============

</TABLE>
<PAGE>
                              GREENLAND CORPORATION
                 CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
                 FOR THE YEARS ENDED DECEMBER 31, 2001 AND 2000

<TABLE>
<CAPTION>



<S>                                                   <C>               <C>            <C>        <C>
(thousands). . . . . . . . . . . . . . . . . . . . .  SUBSCRIBED        ACCUMULATED
                                                      PREFERRED  STOCK  COMMON STOCK   SHARES     SHARES
                                                      ADDITIONAL        SUBSCRIBED     UNISSUED   COMPREHENSIVE
                                                      SHARES            AMOUNT         SHARES     AMOUNT

BALANCE AT DECEMBER 31, 1999 . . . . . . . . . . . .                 -  $           -    36,470   $           35
                                                                     -
Shares issued to retire debt and to purchase assets.                 -              -     2,245                2
Sale of common stock . . . . . . . . . . . . . . . .                 -              -    11,508               12
Shares issued for services . . . . . . . . . . . . .                 -              -    14,746               15
Subscribed shares issued . . . . . . . . . . . . . .                 -              -       930                1
Warrants to purchase shares. . . . . . . . . . . . .                 -              -         -                -
Exercised warrants & options . . . . . . . . . . . .                 -              -     5,236                5
Options issued for services. . . . . . . . . . . . .                 -              -         -                -
Unrealized loss on investments . . . . . . . . . . .                 -              -         -                -
Net loss for the year. . . . . . . . . . . . . . . .                 -              -         -                -

BALANCE AT DECEMBER 31, 2000 . . . . . . . . . . . .                 -              -    71,135               70
                                                      ----------------  -------------  ---------  ---------------
                                                                     -              -
Shares issued for investment, 60 shares. . . . . . .                 -              -         -                -
Shares issued to purchase assets . . . . . . . . . .                 -              -     1,000                1
Shares issued for settlement of debts. . . . . . . .                 -              -     1,869                2
Shares issued for services . . . . . . . . . . . . .                 -              -    25,793               25
Shares issued for salaries & reimbursement . . . . .                 -              -     8,876               13
Subscribed shares unissued . . . . . . . . . . . . .                 -              -    45,831               46
Warrants to purchase shares. . . . . . . . . . . . .                 -              -         -                -
Exercised warrants & options . . . . . . . . . . . .                 -              -    10,285               10
Cancellation of shares . . . . . . . . . . . . . . .                 -              -      (406)              (1)
Options issued for compensation & service. . . . . .                 -              -     3,000                3
Sale of marketable securities. . . . . . . . . . . .                 -              -         -                -
Beneficial conversion feature of preferred stock . .                 -              -         -                -
Receipt of investment. . . . . . . . . . . . . . . .                 -              -         -                -
Net loss for the year. . . . . . . . . . . . . . . .                 -              -         -                -

BALANCE AT DECEMBER 31, 2001 . . . . . . . . . . . .                 -  $           -   167,383   $          169
                                                      ----------------  -------------  ---------  ---------------



<S>                                   <C>                <C>             <C>             <C>       <C>        <C>
(thousands)
                                      OTHER              TOTAL
                                      ACCUMULATED        STOCKHOLDERS'
                                      PAID IN CAPITAL    UNISSUED         & RECEIVABLE   INCOME    DEFICIT    EQUITY

BALANCE AT DECEMBER 31, 1999 . . . .  $       16,882               -             175   $     -   $(13,707)  $ 3,385

Shares issued to retire debt and to
purchase assets.                               1,055               -               -         -          -     1,057
Sale of common stock . . . . . . .             2,146               -               -         -          -     2,158
Shares issued for services . . . .             2,614               -               -         -          -     2,629
Subscribed shares issued . . . . .               174               -            (175)        -          -         -
Warrants to purchase shares. . . .               265               -               -         -          -       265
Exercised warrants & options . . .               653               -            (133)        -          -       525
Options issued for services. . . .               610               -               -         -          -       610
Unrealized loss on investments . .                 -               -               -      (315)         -      (315)
Net loss for the year. . . . . . .                 -               -               -         -     (7,581)   (7,581)

BALANCE AT DECEMBER 31, 2000 . . .            24,399               -            (133)     (315)   (21,288)    2,733
                                    -----------------  --------------  --------------  --------  ---------  --------

Shares issued for investment,
   60 shares..                                   600               -   v                     -          -       600
Shares issued to purchase assets .                19               -               -         -          -        20
Shares issued for settlement of
   debts..                                       183               -               -         -          -       185
Shares issued for services . . . .             1,100               -               -         -          -     1,125
Shares issued for salaries
& reimbursement . . .          . .               717               -               -         -          -       730
Subscribed shares unissued . . . .               983            (712)              -         -          -       317
Warrants to purchase shares. . . .                54               -               -         -          -        54
Exercised warrants & options . . .               396               -            (298)        -          -       108
Cancellation of shares . . . . . .              (198)              -               -         -          -      (199)
Options issued for compensation
& service.  .                                    233               -               -         -          -       236
Sale of marketable securities. . .                 -               -               -       315          -       315
Beneficial conversion feature of
preferred stock . .                              150               -               -         -          -       150
Receipt of investment. . . . . . .               500               -               -         -          -       500
Net loss for the year. . . . . . .                 -               -               -         -     (5,234)   (5,234)

BALANCE AT DECEMBER 31, 2001 . . .  $         29,136            (712)  $        (431)  $     -   $(26,522)  $ 1,640
                                    -----------------  --------------  --------------  --------

</TABLE>

<PAGE>
                              REENLAND CORPORATION
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                 FOR THE YEARS ENDED DECEMBER 31, 2001 AND 2000

<TABLE>
<CAPTION>
<S>                                                     <C>      <C>
(in thousands) . . . . . . . . . . . . . . . . . . . .    2001     2000
                                                        -------  -------

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss . . . . . . . . . . . . . . . . . . . . . . .  (5,234)  (7,581)
Adjustments to reconcile net loss to net cash used in
operating activities:
Depreciation and amortization. . . . . . . . . . . . .     767      687
Provision for doubtful accounts. . . . . . . . . . . .     126       44
Provision for note receivable. . . . . . . . . . . . .       -      200
Repurchase of distributor agreement. . . . . . . . . .       -      566
Options issued for services. . . . . . . . . . . . . .       -      610
Options issued for compensation & service. . . . . . .     236        -
Realized loss on the sale & disposal of investments. .     397      150
Impairment of investment . . . . . . . . . . . . . . .     150
Net loss on sale & disposal of asset . . . . . . . . .      20        -
Net loss on settlement of debt . . . . . . . . . . . .      77        -
Loss on termination of lease . . . . . . . . . . . . .     275        -
Beneficial conversion feature of preferred stock . . .     150        -
Stock issued for services. . . . . . . . . . . . . . .   1,126    2,629
Stock issued for salaries & reimbursement. . . . . . .     730        -
(Increase) / decrease in current assets:
Accounts receivable. . . . . . . . . . . . . . . . . .    (372)     (61)
Inventory. . . . . . . . . . . . . . . . . . . . . . .     173      (20)
Prepaid Expense. . . . . . . . . . . . . . . . . . . .     (32)       -
(Increase) decrease in other asset . . . . . . . . . .      14      101
Increase / (decrease) in current liabilities:
                                                           612      (59)
                                                        -------  -------
Total Adjustments. . . . . . . . . . . . . . . . . . .   4,449    4,847
                                                        -------  -------
Net cash used in operating activities. . . . . . . . .    (785)  (2,734)

CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property & equipment. . . . . . . . . .     (61)    (461)
Receipt of investment. . . . . . . . . . . . . . . . .     500        -
Proceeds from sale of investments. . . . . . . . . . .     164      231
Loans payment from officers & employees. . . . . . . .       -      188
Investment in notes receivable . . . . . . . . . . . .       -     (200)
                                                        -------  -------
Net cash provided by (used in) investing activities. .     603     (242)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of stock. . . . . . . . . . . . . .       -    2,158
Proceeds from the exercise of warrants & options . . .     108      525
Principal payments on capital leases . . . . . . . . .    (116)     (30)
(Payment)/Proceeds from note payable . . . . . . . . .      83      143
Proceeds from note payable-related party . . . . . . .      39        -
Proceeds from sale of stock warrants . . . . . . . . .       -       19
                                                        -------  -------
Net cash provided by financing activities. . . . . . .     114    2,815

NET DECREASE IN CASH & CASH EQUIVALENT . . . . . . . .     (68)    (161)

CASH & CASH EQUIVALENT, BEGINNING BALANCE. . . . . . .      75      236
                                                        -------  -------

CASH & CASH EQUIVALENT, ENDING BALANCE . . . . . . . .       7       75
                                                        =======  =======

SUPPLEMENTAL INFORMATION:
Cash paid for interest . . . . . . . . . . . . . . . .      59       83
                                                        =======  =======
Cash paid for income tax . . . . . . . . . . . . . . .       -        3
                                                        =======  =======

</TABLE>

<PAGE>
                              GREENLAND CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                          YEAR ENDED DECEMBER 31, 2001

NOTE  1.       DESCRIPTION  OF  BUSINESS  AND  SEGMENTS

Greenland  Corporation  was  formed  on July 17, 1986 and was in the development
stage  until  September  1994,  when  it  acquired Gam Properties, Inc. Upon the
disposition  of  the  subsidiary  at  December  31,  1997, Greenland Corporation
reentered the development stage and was in the development stage until the third
quarter  of  1999.  Greenland  Corporation  is  engaged  in  the  production,
distribution,  servicing  and  marketing  of  advanced  automatic  check cashing
machines similar to bank ATMs through its wholly owned subsidiary Check Central,
Inc.  (collectively,  the  Company).  The Company markets and sells its products
throughout  the  United  States  and  grants  unsecured credit to its customers.
During  the  year  ended  December  31,  2001,  the  management  of  the Company
determined  that  its  efforts  to develop, produce, and successfully market and
support  its  MAXcash  ABM  system  may  be  beyond  the  scope of its currently
available  resources.  On  April  2,  2001,  the  Company  announced that it was
temporarily  suspending  its  Check  Central subsidiary check cashing operations
until  such time as the integration of the Company's Check Central software with
the  MAXcash  operating  system  was  complete,  in  order to minimize its check
cashing  risk,  reduce  operating  losses,  and  to  conserve  capital.

NOTE  2.       PRINCIPLES  OF  CONSOLIDATION

The  accompanying  consolidated  financial  statements  include  the accounts of
Greenland  Corporation  (parent)  and its wholly owned subsidiary Check Central,
Inc,  collectively  referred  to  as the "Company". All significant intercompany
transactions  and  accounts  have  been  eliminated  in  consolidation.

NOTE  3.       SUMMARY  OF  SIGNIFICANT  ACCOUNTING  PRINCIPLES

CASH  AND  CASH  EQUIVALENTS

The  Company considers all liquid investments with a maturity of three months or
less from the date of purchase that are readily convertible into cash to be cash
equivalents.

ACCOUNTS  RECEIVABLE

In  determining  the  allowance  to be maintained, the management evaluates many
factors  including  industry  and historical loss experience.  The allowance for
doubtful  accounts is maintained at an amount management deems adequate to cover
estimated  losses.  The allowance for doubtful accounts at December 31, 2001 was
$134  thousand.

INVENTORIES

Inventories  are  stated  at lower of cost, first-in first-out basis, or market.
Provision  for  potentially  obsolete  or slow-moving inventory is made based on
management's  analysis  of  inventory  levels  and  future  sales  forecasts.

PROPERTY  AND  EQUIPMENT

Property and equipment, including renewals and betterments are recorded at cost.
Depreciation is computed using the straight-line method over useful lives of 1.5
to  7  years.  The  cost  of  assets  sold or retired and the related amounts of
accumulated  depreciation are removed from the accounts in the year of disposal.
Any resulting gain or loss is reflected in current operations. Assets held under
capital  leases  are  recorded  at the lesser of the present value of the future
minimum  lease  payments  or the fair value of the leased property. Expenditures
for  maintenance  and  repairs  are  charged  to  operations  as  incurred.

INVESTMENT
The  Company's  investment  in  equity  securities  is  classified  as
available-for-sale and, as such, is carried at fair value. All of the securities
comprised  of  shares  of  common  stock  of  investee. Securities classified as
available-for-sale  may  be  sold  in  response  to  changes  in interest rates,
liquidity needs, and for other purposes. The Company does not currently have any
held-to-maturity  or  trading  securities.  A  decline  in the fair value of any
available  for sale below cost that is deemed other than temporary is charged to
earnings  and results in the establishment of a new cost basis for the security.
Realized  gains  and losses, if any, on sales of securities are determined using
the  specific identification method for determining the cost of securities sold.

CAPITALIZATION  OF  INTERNAL-USE  SOFTWARE  COSTS

In  March  1998,  the  Accounting  Standards Executive Committee of the American
Institute  of  Certified  Public Accountants (ASEC of AICPA) issued Statement of
position  (SOP)  No.  98-1,  "Accounting  for  the  costs  of  computer software
developed  or  obtained  for internal use", effective for fiscal years beginning
after  December  15,  1998. SOP N0. 98-1 requires that certain costs of computer
software  developed  or  obtained  for internal use be capitalized and amortized
over  the  useful  life  of the related software. This is in compliance with the
accounting  requirements of SOP NO. 98-1. Capitalized software is amortized over
a period of 5 years using the straight-line method. Amortization begins when the
software  is  available  for  its  intended  use.

IMPAIRMENT  OF  LONG-LIVED  ASSETS

The  Company  reviews  its  long-lived  assets  and  intangibles  for impairment
whenever  events and circumstances indicate that the carrying amount of an asset
may  not be recoverable. Management evaluates assets for impairment by comparing
undiscounted  future  cash  flows  to  the  carrying  amount  of  the  asset. If
impairment  exists,  the amount of impairment is measured as the amount by which
the  carrying  amount  of the asset exceeds its fair value. Management evaluated
its  long-term  and  intangible assets for impairment and no impairment loss was
recognized  in  2001  or  2000.  Due  to  industry  conditions,  it  is at least
reasonably  possible  that the impairment estimate will change in the near term.

STOCK-BASED  COMPENSATION

The  Company  accounts  for  stock-based  compensation  plans under Statement of
Financial  Accounting  Standards  No.  123,  "Accounting  for  Stock-Based
Compensation"  (SFAS  123).  SFAS  No.  123  prescribes accounting and reporting
standards  for  all  stock-based  compensation  plans,  including employee stock
options,  restricted stock, employee stock purchase plans and stock appreciation
rights.  SFAS No. 123 requires compensation expense to be recorded (i) using the
new  fair value method or (ii) using the existing accounting rules prescribed by
Accounting  Principles  Board  Opinion  No.  25, "Accounting for stock issued to
employees"  (APB  25)  and  related interpretations with pro forma disclosure of
what  net  income and earnings per share would have been had the Company adopted
the  new  fair  value  method.  The  company  uses  the  intrinsic  value method
prescribed  by APB25 and has opted for the disclosure provisions of SFAS No.123.

REVENUE  RECOGNITION

The  Company's  revenue  recognition  policies  are  in  compliance  with  Staff
accounting bulletin (SAB) 101. Revenue is recognized when merchandise is shipped
to a customer or services are rendered. Generally, the Company extends credit to
its  customers  and  does  not  require collateral. The Company performs ongoing
credit  evaluations of its customers and historic credit losses have been within
management's  expectations.

ADVERTISING

Expenditures  for  advertising  and  sales  promotion  are charged to expense as
incurred.  Advertising costs for the years ended December 31, 2001 and 2000 were
$1  thousand  and  $395  thousand,  respectively.

NCOME  TAXES

Deferred income tax assets and liabilities are computed annually for differences
between  the  financial  statements and tax basis of assets and liabilities that
will result in taxable or deductible amounts in the future based on enacted laws
and  rates  applicable  to  the periods in which the differences are expected to
affect  taxable income (loss). Valuation allowance is established when necessary
to  reduce  deferred  tax  assets  to  the  amount  expected  to  be  realized.

SHARES  ISSUED  TO  ACQUIRE  GOODS  AND  SERVICES  FROM  NON-EMPLOYEES

The Company accounts for the issuance of equity instruments to acquire goods and
services  based on the fair value of the goods and services or the fair value of
the  equity  instrument  at  the  time  of  issuance, whichever is more reliably
measurable.

RESEARCH  AND  DEVELOPMENT  COSTS

Expenditures for research & development are expensed as incurred. Such costs are
required  to  be  expensed  until  the  point  that technological feasibility is
established.  The  period  between  achieving  technological feasibility and the
general availability of such development is short. Consequently, costs otherwise
capitalizable after technological feasibility is achieved are generally expensed
because  they  are  insignificant.

BASIC  AND  DILUTED  NET  LOSS  PER  SHARE

Net  loss  per share is calculated in accordance with the Statement of financial
accounting  standards No. 128 (SFAS No. 128), "Earnings per share". SFAS No. 128
superseded  Accounting  Principles  Board  Opinion  No.15 (APB 15). Net loss per
share  for  all  periods  presented has been restated to reflect the adoption of
SFAS No. 128. Basic net loss per share is based upon the weighted average number
of  common  shares  outstanding.  Diluted  net  loss  per  share is based on the
assumption that all dilutive convertible shares and stock options were converted
or  exercised. Dilution is computed by applying the treasury stock method. Under
this  method,  options and warrants are assumed to be exercised at the beginning
of  the  period (or at the time of issuance, if later), and as if funds obtained
thereby  were  used  to purchase common stock at the average market price during
the  period.

FAIR  VALUE  OF  FINANCIAL  INSTRUMENTS

Statement of financial accounting standard No. 107, Disclosures about fair value
of  financial  instruments,  requires  that  the Company disclose estimated fair
values of financial instruments. The carrying amounts reported in the statements
of  financial  position for current assets and current liabilities qualifying as
financial  instruments  are  a  reasonable  estimate  of  fair  value.

COMPREHENSIVE  INCOME

Statement  of  financial  accounting  standards No. 130, Reporting comprehensive
income  (SFAS  No.  130),  establishes  standards  for  reporting and display of
comprehensive  income,  its  components  and accumulated balances. Comprehensive
income  is defined to include all changes in equity, except those resulting from
investments by owners and distributions to owners. Among other disclosures, SFAS
No. 130 requires that all items that are required to be recognized under current
accounting  standards  as  components  of  comprehensive  income  be reported in
financial  statements  that  are  displayed  with  the  same prominence as other
financial  statements.  As  of  December  31,  2001, the Company did not have an
accumulated  comprehensive  amount  in  the  balance  sheet.

REPORTING  SEGMENTS

Statement  of financial accounting standards No. 131, Disclosures about segments
of  an  enterprise  and  related  information  (SFAS  No. 131), which superceded
statement  of  financial  accounting  standards  No. 14, Financial reporting for
segments of a business enterprise, establishes standards for the way that public
enterprises  report  information  about  operating  segments in annual financial
statements  and  requires  reporting  of  selected  information  about operating
segments  in  interim  financial  statements  regarding  products  and services,
geographic areas and major customers. SFAS No. 131 defines operating segments as
components  of  an  enterprise  about  which  separate  financial information is
available  that  is evaluated regularly by the chief operating decision maker in
deciding  how  to  allocate resources and in assessing performances. The Company
allocates  resources and assesses the performance of its sales activities in two
segment,  (1)  the sale and distribution of automatic check cashing machines and
(2)  customer  service  and  fee income earned through check cashing transaction
processing.

USE  OF  ESTIMATES

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

RECLASSIFICATIONS

Certain  reclassifications were made to the 2000 financial statements to confirm
to  the  2001  presentation.

NOTE  4.       RECENT  PRONOUNCEMENTS

In June 2001, the Financial Accounting Standards Board ("FASB") issued Statement
of  Financial  accounting  Standard  ("SFAS")  No. 141, "Business Combinations",
which  is effective for all business combinations initiated after June 30, 2001.
SFAS No. 141 eliminates the use of the pooling-of-interests method in a business
combination.

In June 2001, the Financial Accounting Standards Board ("FASB") issued Statement
of Financial Accounting Standard ("SFAS") No 142, "Goodwill and Other Intangible
Assets",  which  is  effective  for the Company's year ending December 31, 2002.
Under SFAS No. 142, goodwill is not amortized and is tested for impairment on an
annual  basis  and  between  annual tests in certain circumstances.  The Company
currently  amortizes goodwill over twelve years and expects the adoption of SFAS
No.  142 to eliminate the annual amortization of approximately $173,000 per year
through  December  31,  2010.

Management  is in the process of evaluating the requirements of SFAS No. 141 and
142  and  does  expect these pronouncements will materially impact the Company's
financial  position  or  results  of  operations.

In June 2001, the Financial Accounting Standards Board ("FASB") issued Statement
of  Financial  Accounting  Standards  ("SFAS")  No.  143,  "Accounting for Asset
Retirement  Obligations".  SFAS 143 addresses financial accounting and reporting
for obligations associated with the retirement of tangible long-lived assets and
the associated asset retirement costs. This Statement is effective for financial
statements  issued  for  fiscal  years  beginning  after  June  15,  2002.

SFAS  No. 144, "Accounting for the Impairment or Disposal of Long-Lived Assets,"
was  issued in August 2001. SFAS No. 144 is effective for fiscal years beginning
after  December  15,  2001, and addresses financial accounting and reporting for
the  impairment or disposal of long-lived assets. This statement supersedes SFAS
No.  121  "Accounting for the Impairment of Long-Lived Assets and for Long-Lived
Assets  to  Be  Disposed Of," and the accounting and reporting provisions of APB
Opinion  No. 30, "Reporting the Results of Operations - Reporting the Effects of
Disposal of a Segment of a Business, and Extraordinary, Unusual and Infrequently
Occurring Events and Transactions," for the disposal of a segment of a business.
Management  is in the process of evaluating the requirements of SFAS No. 143 and
144  but  does  not  expect  these  pronouncements  will  materially  impact the
Company's  financial  position  or  results  of  operations.

NOTE  5.       GOING  CONCERN  UNCERTAINTY

s  shown  in  the  accompanying condensed consolidated financial statements, the
Company has suffered recurring losses from operations, has a net working capital
deficiency  of  approximately  $1.8  million and an accumulated deficit of $26.5
million  as  of  December  31,  2001,  including losses of $5.2 million and $7.6
million  for  the  years  ended  December 31, 2001 and 2000, respectively. These
factors,  among  others,  raise substantial doubt about the Company's ability to
continue  as  a  going  concern. The Company's need for working capital is a key
issue  for  management  and  necessary  for  the  Company  to meet its goals and
objectives.  The Company continues to meet its obligations and pursue additional
capitalization  opportunities.  There is no assurance, however, that the Company
will  be  successful  in  meeting  its  goals  and  objectives  in  the  future.

In view of the matters described in the preceding paragraph, recoverability of a
major  portion  of  the recorded asset amounts shown in the accompanying balance
sheet  is  dependent  upon continued operations of the Company, which in turn is
dependent  upon  the  Company's  ability  to  raise  additional  capital, obtain
financing  and to succeed in its future operations.  The financial statements do
not include any adjustments relating to the recoverability and classification of
recorded  asset  amounts or amounts and classification of liabilities that might
be  necessary  should  the  Company  be  unable  to continue as a going concern.

During 1999 and 2000, the Company fully subscribed its private placementoffering
realizing  $3.4  million in net proceeds. In addition, the Company realized $378
thousand  from  the  exercise  of Class A Warrants.  There are still outstanding
Class  B Warrants exercisable at $1.00 and Class C Warrants exercisable at $1.50
(collectively,  the  "Warrants").  By  letter  dated  June  18, 2001 the Company
notified  the  holders  of the Warrants issued pursuant to the private placement
that  they  could  exercise  all or any portion of their warrants at an exercise
price  of  $.033  per  warrant  (each warrant can be exercised into one share of
common  stock  of  Greenland  Corporation)  (the "Warrant Purchase Offer").  The
holders had thirty days to exercise said warrants.   For the year ended December
31,  2001 the Company received $108 thousand through the exercise of options and
warrants.

On March 28, 2001, the Company announced that it had entered an agreement with a
NASD  approved  Underwriter,  referred  to  in  Company  communications  as  an
"institutional  private  equity investor," under which the Underwriter agreed to
purchase  shares  of  the  Company's  common  stock  over  the next three years.
Generally,  under  the  terms  of  the  agreement, the Underwriter has agreed to
purchase  such  amounts  of  common  stock  as  the  Company  elects to sell the
Underwriter.  The  purchase  price for the shares is generally the lesser of (1)
the  market  price  less  $0.075  per  share or (2) 93% of the market price. The
agreement  limits  the amount of common shares that the Underwriter is obligated
to  purchase  during  any  61-day  period  to  9.9%  of  the total common shares
outstanding  and is subject to an overall cap of $35 million over the three-year
term  of  the  agreement.  The  Underwriter's  obligation  to  purchase  shares
terminates  upon the occurrence of various events as specified in the agreement.
The actual amount of common stock that the Underwriter may purchase is dependant
on,  among  other  things,  (1)  the market price of the Company's stock and (2)
whether  a  termination  event  occurs.  The  agreement  must  be registered and
declared  effective  by the Securities and Exchange Commission. In consideration
for  executing  the agreement, the Underwriter will receive warrants to purchase
5,390,000  shares  of  Common  stock. There can be no assurance that the Company
will  sell  any  stock  to  the  Underwriter  under  the terms of the agreement.

As  discussed in Note 26, the Company is in a dispute regarding the ownership of
software technology paid for by Greenland Corporation, which Seren Systems, Inc.
has  refused  to  deliver  and/or  make  available  to the Company. As a result,
Greenland Corporation has been unable to fulfill its obligations with respect to
certain  purchase  orders  and/or  contracts.  The  Company  filed  a Demand for
Arbitration  with  the  American  Arbitration Association against Seren Systems,
Inc.  with  respect to the abovementioned dispute. The Company remains confident
that  Greenland  Corporation will obtain the substantive determination necessary
to obtain the return of its property. However, the Company is actively seeking a
settlement  that  would  be  beneficial to the Company's ability to continue its
business  operations.

NOTE  6.       CONCENTRATION  OF  CREDIT  RISK

The  Company  maintains  cash  balances  at  several  banks.  Accounts  at  each
institution  are insured by the Federal Deposit Insurance Corporation up to $100
thousand.

NOTE  7.       RECEIVABLES  FROM  EMPLOYEE

The  Company  has a receivable balance of $5 thousand from a loan to an officer.
The  amount  is  due  on  demand,  interest  free  and  unsecured.

NOTE  8.       INVENTORIES

Inventories  at  December  31,  2001  were  as  follows:

<TABLE>
<CAPTION>

<S>                              <C>
                                  (In thousands)

Raw materials . . . . . . . . .  $          293
Work-in-progress. . . . . . . .             -0-
Finished goods. . . . . . . . .             -0-
                                 ---------------
                                            293
Less allowance for obsolescence            (147)
                                 ---------------

                                 $          146
</TABLE>

Inventories  are  stated  at  lower of cost, first-in first-out basis or market.
Provision  for  potentially  obsolete  or slow moving inventory is made based on
management's  analysis  of  inventory  levels.

NOTE  9.       ACCOUNTS  RECEIVABLE

The  Company  entered  into  an agreement with CardPlus International, Inc., the
nation's only certified minority electronic payments processor.  Pursuant to the
agreement  CardPlus  purchased six interactive check cashing Maxcash   Automated
Banking  Machine  kiosks.  These  terminals  are  to be processed from CardPlus'
Denver  Colorado  electronic  transaction  and  data  processing  center.  This
transaction  is  the  first  purchase  under  the  Company's ongoing strategy to
aggressively  pursue  sales  of the Maxcash ABM to customers that have their own
processing  capabilities.  On December 31, 2001, the accounts receivable balance
per  the  balance sheet comprised of the receivable from CardPlus International,
Inc.

NOTE  10.       PROPERTY  AND  EQUIPMENT

Net  property  and  equipment  at  December  31,  2001  was  as  follows:

<TABLE>
<CAPTION>

<S>  <C>
(In thousands)

Computers  and equipment .         .  .  .  .  .  .  .  .  .  .  .  .  .  $  145
Furniture  & equipment under capital leases. . . . . . . . . . . . . . . .   537
Demonstration  equipment . . . . . . . . . . . . . . . . . . . . . . . . . . 127
Furniture  and fixtures. . . . . . . . . . . . . . . . . . . . . . . . . . .  66
Leasehold  improvements. . . . . . . . . . . . . . . . . . . . . . . . .  .  -0-
                                                                          ------
                                                                             875

Accumulated  depreciation  & amortization
(Including accumulated amortization of $137,420  on  leased  assets)       (337)
                                                                          ------
                                                                          $  538
</TABLE>

Depreciation  expense,  including  amortization  of capital lease assets for the
years  ended  December  31,  2001 and 2000 were $259 thousand and $214 thousand,
respectively.

NOTE  11.       INVESTMENT

On  September  28,  2001  the  Company purchased 100,000 shares of common stock,
representing  five percent of the issued and outstanding shares of common stock,
of   ZZYZX Peripherals, Inc (the "ZZYZX Shares"). The Company acquired the ZZYZX
Shares for 60 shares of Class A Convertible Preferred shares of the Company (the
"Company  Shares").  The  investment is carried at a cost of $600,000 determined
by  fair  value of the Class A Convertible Preferred Stock issued and exchanged.
Investment  is  adjusted for decline in fair value that is other than temporary.
The  Company's investments in marketable equity securities are being held for an
indefinite  period  and,  in  accordance with the Financial Accounting Standards
Board's Statement 115 (FASB 115), are classified as available for sale. Mr. Gene
Cross  is a Director and Shareholder of Greenland and a Director and shareholder
of  ZZYZX.  Of  the  ZZYZX Shares purchased by Greenland, Mr. Cross owned 20,000
shares.  Mr.  Frank  Kavanaugh, a Director and shareholder of ZZYZX, controls DK
Capital  and  Bet  Trust  and  is a shareholder of Greenland Corporation. Of the
ZZYZX  Shares  purchased  by  Greenland, DK Capital and Bet Trust together owned
40,000  shares.

At December 31, 2001, the Company determined the fair value of the investment at
$450,000  based  upon market value of the investment. The Company has charged to
earnings $150,000 in 2001, as other than temporary impairment of the investment.

On  April  16,  2001  the Company sold all of its investments in common stock of
Telenetics  Corporation.  The common stock was carried at fair value. During the
year  ended  December 31, 2001, the Company realized $397 thousand of losses and
$164  thousand  of  proceeds  from  sales  of  shares in the investment. Cost is
determined  based  on  specific  identification.
..
NOTE  12.       INTANGIBLE  ASSETS

Intangible  assets  at  December  31,  2001  consisted  of  the  following:

<TABLE>
<CAPTION>

<S>                                  <C>
(In thousands)

Capitalized software costs. . . . .   1,013
Licenses. . . . . . . . . . . . . .     675
Excess of purchase price over fair
value of net assets acquired. . . .   2,079
                                      3,767

Less accumulated amortization . . .  (1,216)
                                     -------

                                      2,551
</TABLE>

During  1998,  as part of the purchase of the net assets of Check Central, Inc.,
the  Company  acquired  licenses  to  use certain software in the development of
check  cashing machines.  The Company is amortizing these licenses over 5 years.
The  excess  of  the  purchase price over the fair value of the identifiable net
assets  acquired  was  capitalized  and  is  being  amortized  over  12  years.

The  Company amortizes capitalized software costs over 5 years.  At December 31,
2001,  net  intangible  assets  of the Company include $588 thousand of software
developed  by  Seren  Systems,  Inc.  (see  Note  26).

The  Company  reviews  its  intangibles  for  impairment  whenever  events  and
circumstances  indicate  that  the  carrying  amount  of  an  asset  may  not be
recoverable.  Management  evaluates  assets  for  impairment  by  comparing
undiscounted  future  cash  flows  to  the  carrying  amount  of the assets.  If
impairment  exists,  the amount of impairment is measured as the amount by which
the  carrying  amount of the asset exceed it's fair value.  Management evaluated
its intangible asset for impairment and no impairment loss was recognized in the
year  ended  December  31,  2001 and 2000.  Due to industry conditions, it is at
least  reasonably  possible that the impairment estimate will change in the near
term.

NOTE  13.       ACCRUED  EXPENSES

Accrued  expenses  at  December  31,  2001  are  as  follows:

<TABLE>
<CAPTION>



<S>                                    <C>
(in thousands)

Accrued monthly expenses. . . . . . .  $        388
Accrued payroll liabilities . . . . .           396
Accrued interest. . . . . . . . . . .            60
Accrued warranty expense. . . . . . .             5
Customer deposits . . . . . . . . . .             3
Customer prepaid communication costs.            27
                                       ------------
                                       $        879
                                       ============
</TABLE>

NOTE  14.       CAPITAL  LEASES

During  2000, the Company obtained financing for certain furniture and equipment
through  leases  with  interest rates ranging from 15.68% through 25.47%. Future
minimum lease payments under the capital leases for the years ending December 31
are  as  follows:

<TABLE>
<CAPTION>

<S>                                    <C>
(in thousands)

     2002 . . . . . . . . . . . . . .  $ 185
     2003 . . . . . . . . . . . . . .    146
     2004 . . . . . . . . . . . . . .     27
     2005 . . . . . . . . . . . . . .      4
                                       ------
Total minimum lease payments. . . . .    362
Less amount representing interes. . .    (59)
                                       ------
Present value of net lease payments .    303
Less current portion. . . . . . . . .   (142)
                                       ------
Long  term  portion                       161
=====================================
</TABLE>

NOTE  15.       NOTES  PAYABLE  TO  RELATED  PARTIES
Notes  payable  to  related  parties  at  December  31,  2001  were  as follows:

<TABLE>
<CAPTION>

<S>                                                              <C>
(In thousands)

Note payable to a stockholder and officer of the Company.
Unsecured, and interest at 8%.  Principal due February 2002.. .  $         2
                                                                 -----------

Notes payable to a stockholder and officer of the Company.
Interest at 8%.  Principal due as follows: $12-February 2002,
25-August 2002, $25- September 2002, $25- October 2002.. . . .           87
                                                                 -----------

                                                                 $        89
                                                                 ===========
</TABLE>

In  July  2001,  Thomas  A.  Hyde, Jr, CEO and Chairman of Greenland Corporation
agreed  to  loan  the  Company  $100 thousand. The terms of the loan provide for
repayment  within  one  year  at  8%  interest and warrant to purchase 1,333,333
shares  of Greenland Corporation common stock at $.03 per share. The Company has
received  $75  thousand  on  this  loan  through  December  31,  2001.

The  Company  repaid  notes  payable  during the year ended December 31, 2001 to
related  parties  of  $108  thousand  through  the  issuance  of  stock.

The  total  interest expense on these notes for the year ended December 31, 2001
was  $3,000.

NOTE  16.       NOTES  PAYABLE

Notes  payable  at  December  31,  2001  were  as  follows:

(In  thousands)

Note  payable  to  an  unrelated  party,  with  interest  at  10%.
Due through the payment of commissions earned through March 9, 2001.   $     320
--------

Revolving  Line-of-credit  agreement  with  a  commercial  bank,
which allows for advances up to a maximum of $150 thousand. The line
expires on July 17, 2003.Interest at the  bank's reference rate plus
2.0% but not less than 8.5%. The line will be secured by  company
assets and personally guaranteed by a director and stockholder
of the Company.                                                              118
                                                                       ---------
                                                                    $        438
                                                                       =========

NOTE  17.       STOCKHOLDERS'  EQUITY

CONVERTIBLE  PREFERRED  STOCK

The  Company  is  authorized  to  issue  10,000  shares  of  Class A convertible
preferred  stock  with  a face value of ten thousand Dollars ($10,000) and a par
value  of  $.001  per  share.  The  company  issued  60  Class A preferred stock
convertible  into  $10,000 worth of shares of Greenland Corporation common stock
for  acquisition  of  investment  (note  19).

The  Company  is  authorized  to  issue  10,000  shares  of  Class B convertible
preferred  stock with a face value of ten thousand Dollars ($10,000), with a par
value  to be determined at the discretion of the Board of directors. The Company
has  not  issued  any  Class  B convertible preferred stock through December 31,
2001.

PRIVATE  PLACEMENTS  OF  COMMON  STOCK

On  or  about  July  28,  1999,  the  Company  offered  to  sell,  pursuant to a
confidential private placement memorandum, up to 1,600,000 units of common stock
and  attached warrants at $5 per unit. Each unit offered included 11.5 shares of
common  stock  and  warrants to purchase 30 additional shares of common stock at
prices  ranging from $.50 per share to $1.50 per share. The Company realized net
proceeds  of  $3.4 million after deducting costs related to the offering of $4.6
million.

In  addition,  during  2000  the Company realized $378 thousand, net of offering
commissions  of  $120 thousand, and issued 995 thousand shares from the exercise
of  Class  A  Warrants  from  its  Private  Placement  Offering.

COMMON  STOCK  ISSUED  IN  EXCHANGE  FOR  SERVICES

The  Company issued 25.8 million and 14.7 million shares of its common stock for
services  during  the  years ended December 31, 2001 and 2000, respectively. The
Company  has recognized expenses for such services in the amount of $1.1 million
and  $2.6  million  in  2001  and  2000,  respectively.

ADDITIONAL  COMMON  STOCK  ISSUED

The Company issued 1.9 million and 1.9 million shares of common stock during the
years  ended  December  31,  2001  and 2000 in settlement of debts totaling $185
thousand  and  $438  thousand,  respectively.

The  Company issued 1 million shares and 338 thousands shares in the years ended
December  31,  2001  and  2000  to acquire assets totaling $20 thousand and $619
thousand,  respectively.

In  2000,  in  conjunction  with  the  repurchase  of  the exclusive distributor
agreement,  the  Company  issued  warrants  to  purchase  500 thousand shares of
restricted  Company  stock  (see  Note  24).

In  2001, the Company issued 8.9 million shares of common stock for salaries and
employee  reimbursement  totaling  $730  thousand.

In  2001,  the  Company cancelled 406 thousand shares of common stock issued for
bonus  in  year  2000,  amounting  $198  thousand.

SUBSCRIBED  SHARES  UNISSUED

During  2001,  the  Company  had  $712 thousand for unissued shares of exercised
warrant.  These amounts from the unissued shares are carried in the accompanying
consolidated  statement  of  stockholders  equity.

ADDITIONAL  WARRANTS  ISSUED

The  Company  issued  warrants to purchase 5.5 million and 1.9 million shares in
the  years  ended  December  31, 2001 and 2000 in conjunction with notes and for
compensation  and  other  services.

COMMON  STOCK  OPTION  PLAN

During 1999, the Company adopted a stock option plan covering both incentive and
non-qualified  stock  options  for  employees,  directors  and  consultants. The
Company's stockholders have authorized a total of 15 million common shares to be
available  for  grant under the plan. The plan allows for incentive options with
exercise  prices  of  at  least  100%  of the fair market value of the Company's
common  stock.  However,  10% or greater shareholders may not be granted options
with exercise prices below 110% of the fair market value of the Company's common
stock.

The  Company  accounts for stock based compensation under Statement of Financial
Accounting  Standards  No. 123 ("SFAS 123"). SFAS 123 defines a fair value based
method  of  accounting for stock based compensation. However, SFAS 123 allows an
entity  to  continue  to  measure  compensation  cost related to stock and stock
options  issued to employees using the intrinsic method of accounting prescribed
by  Accounting Principles Board Opinion No. 25 ("APB 25"), "Accounting for Stock
Issued  to Employees". Entities electing to remain with the accounting method of
APB  25 must make pro forma disclosures of net income and earnings per share, as
if the fair value method of accounting defined in SFAS 123 had been applied. The
Company  has  elected  to  account for its stock based compensation to employees
under  APB  25.

In  2001  and  2000,  the  Company issued non-qualified options to employees and
directors  to purchase 5.5 and 7.4 million shares with a weighted average strike
price  of  $.13  and  $.12,  and  recorded  $182  thousand  and $610 thousand of
expenses,  respectively.

 Pro  forma  information regarding net income and earnings per share is required
by  SFAS  123,  and  has been determined as if the Company had accounted for its
employee  stock  options under the fair value method of SFAS 123. The fair value
for  these  options  was  estimated at the date of grant using the Black-Scholes
option  pricing  model  with  the following weighted average assumptions for the
years ended December 31, 2001 and 2000: risk free interest rate of 6% and 5.25%;
dividend  yield of 0%and 0%; expected lives of the options of 5 to 10 years; and
volatility  of  100%  and  209%.

The Black-Scholes option valuation model was developed for use in estimating the
fair  value  of  traded options which have no vesting restrictions and are fully
transferable.  In  addition, option valuation models require the input of highly
subjective assumptions. Because the Company's stock options have characteristics
significantly different from those of traded options, and because changes in the
subjective  input  assumptions can materially affect the fair value estimate, in
management's  opinion, the existing models do not necessarily provide a reliable
single  measure  of  the  fair  value  of  its  stock  options.

For  purposes  of pro forma disclosures, the estimated fair value of the options
is  amortized  to expense over the options' vesting period. Adjustments are made
for  options forfeited prior to vesting. The effects on compensation expense and
net  income  had  compensation  costs  for the Company's stock option plans been
determined  based  on  a  fair  value  at  the date of grant consistent with the
provisions  of  SFAS  123, for the years ended December 31, 2001 and 2000 are as
follows:

<TABLE>
<CAPTION>

<S>                                    <C>              <C>
(in thousands, except per share data)            2001             2000
                                       ---------------  ---------------

Net loss, as reported . . . . . . . .  $       (5,234)  $       (7,481)
Adjustments to compensation expense
under SFAS 123. . . . . . . . . . . .            (178)            (933)
                                       ---------------  ---------------
Net loss, pro forma . . . . . . . . .  $       (5,412)  $       (8,514)
                                       ===============  ===============
Loss per share, pro forma . . . . . .  $         (.04)  $         (.15)
                                       ===============  ===============
</TABLE>

The following summary presents the incentive and non-qualified options under the
plan  granted, exercised, expired and outstanding at December 31, 2001 and 2000:

<TABLE>
<CAPTION>



<S>                                       <C>                <C>
                                          WEIGHTED AVERAGE
                                          NUMBER             EXERCISE
                                          OF SHARES          PRICE
                                             (in thousands)
                                          -----------------
Outstanding at January 1, 2000 . . . . .             6,255   $           .16
Granted. . . . . . . . . . . . . . . . .            32,616               .06
Exercised. . . . . . . . . . . . . . . .            (1,743)              .19
Expired. . . . . . . . . . . . . . . . .              (280)              .17
                                          -----------------  ---------------
Outstanding at December 31, 2000 . . . .            36,848   $           .07
                                          -----------------  ---------------
Granted in 2001. . . . . . . . . . . . .            56,945               .02
Exercised. . . . . . . . . . . . . . . .                 -                 -
Expired. . . . . . . . . . . . . . . . .            31,000               .05
                                          -----------------  ---------------
Outstanding at December 31, 2001 . . . .            62,793   $           .03
                                          =================  ===============
Options exercisable at December 31, 2001            49,318   $           .16
                                          =================  ===============
</TABLE>

Certain  options  have  been  granted but not issued in 2000 pending shareholder
approval  of  an  amendment to the stock option plan. The weighted average grant
date  fair value of options granted during 2001 for options whose exercise price
equals,  exceeds  and  is less-than the market price of the stock on the date of
grant is $.01, $0.02 and $.03, respectively.The weighted average grant date fair
value  of  options  granted  during  2001  was  $.01.

The  following  summary presents the weighted average exercise prices, number of
options  outstanding and exercisable, and the remaining contractual lives of the
Company's  stock  options  at  December  31,  2001:

<TABLE>
<CAPTION>

<S>       <C>                     <C>                    <C>     <C>
          NON-EXERCIABLE OPTIONS  EXERCISABLE OPTIONS
          WEIGHTED AVERAGE        WEIGHTED AVERAGE
EXERCISE  REMAINING CONTRACTUAL   REMAINING CONTRACTUAL
PRICE. .  NUMBER                  LIFE                   NUMBER  LIFE
--------  ----------------------  ---------------------  ------  ----

..08. . .                   7,136                    9.7
..01. . .                   2,500                   10.1
..016 . .                  13,350                    9.7  26,123   9.5
..017 . .                   1,029                    9.5
..022 . .                   4,000                    9.7
..025 . .                     277                    2.0
..03. . .                     667                    9.3
..04. . .                     134                    2.0
..05. . .                     125                    9.0     975   7.9
..06. . .                     807                    2.0
..14. . .                     728                    2.0
..15. . .                   4,510                    2.5
..18. . .                     266                    7.7
..24. . .                      25                    2.0
..29. . .                      41                    2.0
</TABLE>

 WARRANTS

The following summary presents warrants sold, exercised, expired and outstanding
at  December  31,  2001:

<TABLE>
<CAPTION>

<S>                                       <C>                <C>
                                          WEIGHTED AVERAGE
                                          NUMBER OF          EXERCISE
                                          WARRANTS           PRICE
                                             (in thousands)
                                          -----------------
Outstanding at January 1, 2000 . . . . .            21,677   $           0.85
Issued . . . . . . . . . . . . . . . . .            32,379               0.96
Exercised. . . . . . . . . . . . . . . .            (2,711)              0.26
Expired. . . . . . . . . . . . . . . . .            (5,742)              0.57
                                          -----------------  ----------------
Outstanding at December 31, 2000 . . . .            45,603               1.00
                                          -----------------  ----------------
Issued in 2001 . . . . . . . . . . . . .             5,507               0.13
Exercised. . . . . . . . . . . . . . . .            (6,068)              0.04
Expired. . . . . . . . . . . . . . . . .           (29,400)              0.86
                                          -----------------  ----------------
Outstanding at December 31, 2001 . . . .            15,642   $           1.32
                                          =================  ================
Options exercisable at December 31, 2001            15,642   $           1.32
                                          =================  ================
</TABLE>

he  following  summary  presents  the  exercise  prices,  number  of  warrants
outstanding  and  exercisable,  and  the  remaining  contractual  lives  of  the
Company's  stock  warrants  at  December  31,  2001:

<TABLE>
<CAPTION>



<S>       <C>                                     <C>
          OUTSTANDING WARRANTS



EXERCISE  WEIGHTED AVERAGE REMAINING CONTRACTUAL
PRICE. .  NUMBER                                  LIFE
--------  --------------------------------------  ---------
..03. . .                                   1,333  1.6 years
..05. . .                                     500  1.1 years
..10. . .                                     828  1.1 years
..15. . .                                   1,487  1.1 years
..20. . .                                     850  1.1 years
..25. . .                                     850  1.1 years
..75. . .                                     440  0.2 years
1.00 . .                                     119  0.2 years
1.50 . .                                   9,235  0.1 years
</TABLE>

NOTE  18.       PROVISION  FOR  INCOME  TAXES

The  total  change  in  the valuation allowance from continuing and discontinued
operations  for  the years ended December 31, 2001 and 2000 was $1.7 million and
$2.6  million,  respectively.

Income  tax benefit at the federal statutory rate is reconciled to the Company's
actual  income  tax  provision  as  follows:

<TABLE>
<CAPTION>

<S>                                      <C>                <C>
(in thousands). . . . . . . . . . . . .              2001               2000
                                         -----------------  -----------------

Current:
     Federal. . . . . . . . . . . . . .  $            -0-   $            -0-
     State. . . . . . . . . . . . . . .                 2                  2
                                         -----------------  -----------------
                                                        2                  2
                                         -----------------  -----------------
Deferred:
     Federal. . . . . . . . . . . . . .              (645)              (168)
     State. . . . . . . . . . . . . . .              (163)               (16)
     Tax benefit of net operating loss
        carryforwards . . . . . . . . .             2,530              2,798
                                         -----------------  -----------------
                                                    1,722              2,614
     Change in valuation allowance. . .             1,722              2,614
                                         -----------------  -----------------
                                                        2                  2

Discontinued operations . . . . . . . .               -0-                -0-
                                         -----------------  -----------------
                                         $              2   $              2
                                         =================  =================
</TABLE>

Income  tax benefit at the federal statutory rate is reconciled to the Company's
actual  income  tax  provision  (in  thousands)  as  follows:

<TABLE>
<CAPTION>

<S>                                     <C>       <C>       <C>             <C>
                                           2001      2002
                                        --------  --------
    % OF . . . . . . . . . . . . . . .     % OF
--------------------------------------
    PRE-TAX. . . . . . . . . . . . . .  PRE-TAX
  AMOUNT . . . . . . . . . . . . . . .  INCOME    AMOUNT    INCOME
--------------------------------------  --------  --------  --------------

Benefit at statutory rate. . . . . . .   (1,678)  (34.00%)  $      (2,524)  (34.00%)

State tax benefit, net
   of federal tax provision. . . . . .     (288)   (5.83%)           (433)   (5.83%)

Change in valuation allowance. . . . .    1,722     34.92%          2,614     35.21%

Permanent variance in stock issued for
   services. . . . . . . . . . . . . .        -         -               -         -

Other. . . . . . . . . . . . . . . . .      246      4.65%            345      4.65%
                                        --------  --------  --------------  --------

Total income tax provision . . . . . .        2         0%  $           2         0%
                                        ========  ========  ==============  ========
</TABLE>

The  Company's  total  deferred  tax  assets  and  deferred  tax liabilities (in
thousands)  at  December  31,  2001  and  2000  are  as  follows:


                                         2001                              2000
                                   ----------                          --------
Deferred  tax  asset:
Net  operating  loss carryforwards   $  9,015                       $      6,485
Note receivable allowance                  -0-                               814
Capital loss carryforward                 389                                362
Other                                     108                                 69
                                   ----------                          ---------
Total  deferred  tax  asset:            9,512                              7,730
Valuation  allowance                  (9,038)                            (7,316)
                                   ----------                         ----------
Net  deferred  tax  asset                 474                                414
                                   ----------                         ----------

Deferred  tax  liability:
State  income  tax                        463                                340
Other                                      11                                 74
                                   ----------                         ----------
Total  deferred  tax  liability           474                                414
                                   ----------                         ----------
Net  deferred  tax                $       -0-                        $       -0-
                                   ==========                         ==========

Federal  and  state  net  operating  loss  carryforwards of $23,450 thousand and
$11,784  thousand will expire through 2021 and 2006, respectively. The valuation
allowance  will  be  evaluated at the end of each year, considering positive and
negative  evidence  about  whether the asset will be realized. At that time, the
allowance  will  either  be  increased or reduced; reduction could result in the
complete  elimination  of  the allowance if positive evidence indicates that the
value  of  the  deferred tax asset is no longer impaired and the allowance is no
longer  required.

Because  the Company underwent an ownership change, as defined in Section 382 of
the  Internal  Revenue  Code, the Company's tax net operating loss carryforwards
generated  prior  to the ownership change may be subject to an annual limitation
which  could  reduce  or  defer  the  utilization  of  those  net operating loss
carryforwards.

NOTE  19.       CONVERTIBLE  PREFERRED  STOCK

Each  Class  A  Preferred  stock  is convertible into $10,000 worth of shares of
Greenland Corporation common stock. The preferred stock are convertible during a
two  year  period  at a conversion price that is equal to 80% of the closing bid
price  of the Company's common stock during a specified trading period and there
is a limitation as to the amount that can be converted during any 90 day period.
The  preferred  stockholders  will  have  the  same  voting  right  as of common
stockholders.  Preferred  stocks  do  not  bear  any  dividend.

The  Company  recorded  the  beneficial conversion feature as preferred dividend
representing  the difference between the market price of the Company's stock and
80%  thereof  multiplied by the number of shares convertible in to common stock.
The  statement  of  operations  for  the year ended December 31, 2001 includes a
charge  of  $150,000  for  beneficial  conversion  feature  of  preferred stock.

NOTE  20.       EARNINGS  PER  SHARE

Basic  and  diluted  net loss per share for the year ended December 31, 2001 and
2000  were  determined  by  dividing  net  loss  for the periods by the weighted
average number of both basic and diluted shares of common stock and common stock
equivalents  outstanding.

The  following is a reconciliation of the weighted average number of shares used
to  compute  basic  and diluted earnings per share (in thousands, except for per
share  data):



                                          2001                              2000
                                    ----------                       -----------
Numerators for basic and diluted
earnings  per  share:

Net  loss                              (5,234)                           (7,581)

Denominator for basic and diluted
  loss per share adjusted weighted-
  average shares and assumed
  conversions                         122,213                             56,108

Basic earnings (loss) per share:

Net  loss                        $     (0.04)                        $    (0.14)
                                    =========                          =========

Diluted  earnings (loss) per share:

Net  loss                       $      (0.04)                       $     (0.14)
                                    =========                          =========

Options  and  warrants  in  the  amount  of  122  million  and  85  million were
outstanding  during  2001,  and 2000, respectively, but were not included in the
computation  of  diluted  EPS  because  the  effect  of  their exercise would be
anti-dilutive.

In  2000,  the  company  acquired  equipment and furniture in the amount of $449
thousand  by  incurring  capital  leases.
<PAGE>

NOTE  21.       SUPPLEMENTAL  DISCLOSURE  OF  CASH  FLOWS

The  Company  prepares its statements of cash flows using the indirect method as
defined  under  the  Financial  Accounting  Standard  No.  95.

The  cash  flow  statements  do  not  include  following  non-cash investing and
financing  activities:

The  Company paid for services in the amount of $1.1 million and $2.6 million in
2001  and  2000,  respectively,  by  issuing  its  common  stock.

The  Company  acquired assets in the amount of $20 thousand and $619 thousand by
issuing  common  stock  in  2001  and  2000,  respectively.

The  Company  sold  certain  assets  for  $100,000  and  recorded  a receivable.

The  Company  settled  debts  through  issuance  of stock $185 thousand and $218
thousand  in  2001  and  2000,  respectively.

In 2000, the Company repaid notes payable to related parties of $220 thousand by
issuance  of  stock.

In  2001,  the Company issued common stock for salaries and reimbursement in the
amount  of  $730  thousand.

In  2001, the Company issued 60 shares of class A convertible preferred stock to
acquire  100,000  shares  of ZZYZX. The Class A Preferred stocks are convertible
into  $600  thousand  worth  of  shares  of  the  Company  common  stock.

The  Company issued non-qualified options to employees and directors to purchase
57  million of which 28 million shares were from the replacement options in 2001
and  7.4  million shares and recorded $182 thousand and $610 thousand expense in
2001  and  2000,  respectively.

NOTE  22.       SEGMENTS  AND  MAJOR  CUSTOMERS
The  Company  has  two  reportable  segments  consisting  of  (1)  the  sale and
distribution  of  automatic  check cashing machines and (2) customer service and
fee  income earned through check cashing transaction processing.  The accounting
policies  of  the  segments  are  the  same as those described in the summary of
significant  accounting  policies.  The  Company  evaluates performance based on
sales,  gross  profit  margins  and  operating  profit  before  income  taxes.

The  following is information for the Company's reportable segments for the year
ended  December  31,  2001  (in  thousands):

<TABLE>
<CAPTION>

<S>                                     <C>              <C>                   <C>            <C>
                                        Sales Segment    Processing Segment    Unallocated    Total
                                        ---------------  --------------------  -------------  --------

Revenue. . . . . . . . . . . . . . . .  $          128   $               395   $        -0-   $   523
Gross margin . . . . . . . . . . . . .            (189)                 (164)           -0-      (353)
Depreciation and amortization. . . . .              13                   412            342       767
Interest expense . . . . . . . . . . .             -0-                   -0-            134       134
Other, net . . . . . . . . . . . . . .             -0-                   -0-         (4,176)   (4,176)
Loss from continuing operations before
   income taxes. . . . . . . . . . . .            (189)                 (164)        (4,652)   (5,005)

Identifiable assets. . . . . . . . . .             337                 2,992            697     4,026
Capital expenditures . . . . . . . . .             -0-                   -0-             61        61
</TABLE>

The  following is information for the Company's reportable segments for the year
ended  December  31,  2000  (in  thousands):

<TABLE>
<CAPTION>

<S>                              <C>              <C>                   <C>            <C>
                                 Sales Segment    Processing Segment    Unallocated    Total
                                 ---------------  --------------------  -------------  --------

Revenue . . . . . . . . . . . .  $          315   $               345   $        -0-   $   660
Gross margin. . . . . . . . . .            (461)               (1,923)           -0-    (2,384)
Depreciation and amortization .              24                   337            326       687
Interest expense. . . . . . . .             -0-                   -0-             76        76
Other, net. . . . . . . . . . .             -0-                   -0-         (4,795)   (4,795)
Loss from continuing operations
   before income taxes. . . . .            (461)               (1,923)        (5,197)   (7,581)

Identifiable assets . . . . . .             -0-                 1,652          2,954     4,606
Capital expenditures. . . . . .             -0-                1,038-            491     1,529
</TABLE>

The  above negative gross margins include fixed overhead costs for expenses such
as  supervision,  labor,  amortization  and  depreciation,  communications,  and
facilities, as well as the direct costs to manufacture and service the automated
banking  machines.

NOTE  23.       OPERATING  LEASE

The  Company  moved  its  executive  offices  to  new  corporate headquarters in
Carlsbad,  California.  The  Company  leases  its  office  facilities  under  an
operating  lease  expiring  August 14, 2003 with monthly payments of $6 thousand
due  at the beginning of the month.  Rent will increase semi annually at a fixed
rate  of  approximately  4%.

Future  minimum  lease  payments  for  twelve months ended December 31 under the
lease  are  as  follows:

<TABLE>
<CAPTION>



<S>                            <C>
(In thousands)
2002. . . . . . . . . . . . .  $ 75
2003. . . . . . . . . . . . .    52
                               ----

Total minimum lease payments.  $127
</TABLE>

NOTE  24.     REPURCHASE  OF  DISTRIBUTOR  AGREEMENT

In  June 2000, the Company repurchased the exclusive distribution rights to the
Master  Distribution  Agreement  with  SmartCash  ATM,  Ltd.  (SmartCash).  In
consideration, the Company agreed to loan SmartCash $200 thousand collateralized
by  333  thousand  shares of Greenland Corporation common stock, release certain
restrictions  on  Company  common  stock  held  by  SmartCash, issue warrants to
purchase  500  thousand  shares  of  Company  common  stock, and continue to pay
commissions on sales of machines sold by certain sales representatives until the
earlier  of March 2002, or said commissions equal $320 thousand. During December
2000, the Company fully reserved against the $200 thousand note receivable given
the  probability  of collection from SmartCash, and the decrease in the value of
the  Company's  collateral. During the fiscal year ended December 31, 2001, this
note  was  written  off.

 In addition, the Company issued SmartCash a note payable for $320 thousand that
will  be repaid through the payment of the commissions noted above. During March
2000  the  Company  recorded  a  $320  thousand  expense  on  this  transaction.

NOTE  25.       SOFTWARE  DEVELOPMENT  REVENUES

In  anticipation  of  entering into a long term check cashing services agreement
with  ACS Retail Solutions, Inc. (ACS), the Company entered into an Interim Work
and  Assignment  Agreement with ACS in June 2000. Under the terms of the Interim
Agreement  the Company provided development services, and recorded $303 thousand
in  revenues  for  those  services  in  2000.  As  a result of a dispute between
Greenland  Corporation  and  Seren  Systems,  Inc.  regarding  ownership  of the
software  technology,  the  Company  was  unable to complete its obligation with
respect  to  this  Agreement.  As a result, the Company recorded an $84 thousand
reserve  against  the  unpaid  receivable balance in the year ended December 31,
2000.  These  services  were  accounted for on a percentage of completion basis.
There  was  no  such  revenue  in  the  year  ended  December  31,  2001.

NOTE  26     LEGAL  PROCEEDINGS

On  October  12,  2000,  the  Company  filed  a  Demand for Arbitration with the
American  Arbitration  Association  against  Seren  Systems,  Inc. The Complaint
sought  preliminary  relief  in  a  dispute  regarding the ownership of software
technology  paid  for  by  the Company, which Seren Systems, Inc. has refused to
deliver  and/or make available to the Company. As a result, the Company has been
unable to fulfill its obligations with respect to certain purchase orders and/or
contracts,  with  respect  to the above-mentioned dispute. The November 26, 1998
Consulting  Agreement  by  and  between  the  Company  and  Seren  Systems, Inc.
stipulates  that any controversy between the parties shall be settled by binding
arbitration.  This  case  was resolved in 2001 without a finding of liability on
the  Company's part and with confirmation of its ownership of certain source and
operating  codes.

The  Company,  along  with Seren Systems ("Seren"), its then current and primary
software developer and supplier for its own ABM terminals, was in the process of
completing  development  of  the  check  cashing service interface to the Mosaic
Software  host  system  being  implemented  to  support a large network of V.com
terminals.  In September 2000, Seren unilaterally halted testing and effectively
shut-down  any  further  check  cashing  development  for the V.com project. The
parties participating in this project may have been financially damaged, related
to  the  delay in performance by the Company and Seren. None of the parties have
brought  suit  against  the  Company  and/or  Seren  at  this  time. There is no
assurance,  however,  that  such  suit(s)  will  not  be  brought in the future.

On May 23, 2001 the Company filed a Complaint in San Diego County naming Michael
Armani  as  the  defendant.  The Complaint alleges breach of contract by Michael
Armani  in  connection with two separate stock purchase agreements.  The Company
seeks  damages in the amount of $474,595.  On August 7, 2001 the Company filed a
request  for  Entry  of Default against Mr. Armani in the amount of $474,595 and
the  court  granted entry of default.  Subsequently Mr. Armani filed a motion to
set  aside  the  entry of default and on October 26, 2001 the court granted said
motion  and the entry of default was set aside.  The court granted Mr. Armani 10
days  to file a responsive to the Company's Compliant. The Company is not yet in
receipt  of  said  filing.

On  May  23, 2001 Arthur Kazarian, Trustee for the General Wood Investment Trust
(the  "Landlord")  filed  a  Complaint  in  San  Diego  County  naming Greenland
Corporation  as  a defendant.  The Complaint alleges breach of contract pursuant
to the terms of the lease agreement between the Company and the Landlord for the
real  property  located  at  1935  Avenida  Del  Oro,  Oceanside, California and
previously  occupied  by the Company.  The Complaint seeks damages in the amount
of approximately $500,000.  Although the Company remains liable for the payments
remaining  for  the  term of the lease, the Landlord has a duty to mitigate said
damages.  The  Company  recorded  a lease termination liability of $275 thousand
during  the  year  ended  December  31,  2001.  The Company has retained outside
counsel  for  representation  in  this  matter  and  settlement  discussions are
presently  being  conducted.

The  Company  entered  into  an agreement with Intellicorp, Inc. ("Intellicorp")
whereby  Intellicorp agreed to invest $3,000,000 in exchange for board seats and
stock.  After  making  the initial payment of $500,000, Intellicorp defaulted on
the  balance.  The  Company  is seeking a recovery of the unpaid $2,500,000. The
case  is  in  discovery  stage.  The  defendant's ability to pay is unknown. The
Company  had  issued  46,153,848  shares of common stock for the investment. The
shares  were  returned  back  to the Company and are pending cancellation. These
shares  have  been  excluded  from  the  issued  and  outstanding  shares in the
financial  statements.

On  July  5, 2001 Max Farrow, a formal officer of the Company, filed a Complaint
in  San  Diego  County  naming  Greenland  Corporation,  Thomas  J.  Beener,
Intelli-Group,  Inc.,  Intelli-Group  LLC  and Intelli-Corp, Inc. as defendants.
The  Complaint  alleges  breach  of  contract  in  connection  with Mr. Farrow's
resignation  as  an  officer  and  director of the Company in January 2001.  The
Company  believes  that  the  Company  and  Mr. Beener have valid defense to the
allegations  of  Mr.  Farrow.  Although  there can be no assurances, the Company
believes that it will successfully defend this legal action and that the outcome
will  not  have  a  material  adverse  impact  on  the  Company.

Fund Recovery, a temporary staffing services filed a complaint against Greenland
Corporation  alleging  breach of contract. Trial is set for June 2002. A summary
judgment  motion  is  pending.  The Company recorded the liability amount of $14
thousand  in  the  consolidated  financial  statements.

The  case  of  Marcinko  against  Greenland  Corporation  was settled in 2001. A
software engineer brought an action against the Company claiming non-payment for
services.  The  Company  had  no  liability  from  this  settlement.

The  case  of Magnum Financial against Greenland Corporation for non-payment for
services  was  settled  with a judgment against the Company of $12 thousand. The
Company  recorded  the  liability  in  the  consolidated  financial  statements.

The case of San Diego Wholesale Credit against Greenland Corporation was settled
for  a  total  of  $5  thousand.  The  Company  recorded  the  liability  in the
consolidated  financial  statements.

The Company's officers and directors are aware of no other threatened or pending
litigation,  which  would  have  a material, adverse effect on the Company. From
time  to  time  the  Company  is  a  defendant (actual or threatened) in certain
lawsuits  encountered  in the ordinary course of its business, the resolution of
which,  in  the opinion of management, should not have a material adverse effect
on  the  Company's  financial  position  results  of  operations, or cash flows.

NOTE  27.       SUBSEQUENT  EVENTS

Subsequent  to December 31, 2001, the Company issued 63,537,851 shares of common
stock  for  services  and  for  shareholders  who  exercised  their  warrants.

On  January  31,  2002,  the  Company  entered  into  a stock purchase agreement
("Agreement") to purchase all of the issued and outstanding shares of W3M, Inc.,
a California corporation doing business as Paradigm Cabling Systems (the "PCS");
and ASHFORD CAPITAL LLC, a California Limited Liability Company, REGENTS CAPITAL
WEST,  MICHAEL CUMMINGS, MONDO MARSHALL, GREG WILBER, SANDRA STEWART and JOHN M.
PITKIN  ("Sellers"),  the  shareholders of the Company. The Company acquired PCS
for  $2,916,667,  payable  pursuant  to  the terms of a Stock Purchase Agreement
dated  January 31, 2002, a Secured Promissory Note dated February 1, 2002, and a
Pledge  Agreement, dated February 1, 2002. The promissory note bears an interest
rate  of 7% per annum, is payable in installments of $1,000,000 by June 30, 2003
and  $1,916,667  by  June  30, 2004. The promissory note is secured by pledge of
PCS's  stock.  The  Company  contemplated  commencing a private placement equity
offering  on  or  about

June  30,  2002. The acquisition will be accounted for under SFAS No.141 and the
acquisition  costs of approximately $1.9 million will be allocated to the assets
acquired  and  the  liabilities assumed based upon estimates of their respective
fair  values.

Subsequent to December 31, 2001, Thomas A. Hyde Jr., resigned as Chief Operating
Officer  and  Chairman  of  the  Board  of  Greenland  Corporation.

Subsequent  to  December  31,  2001, Gene Cross became Chairman of the Board and
Thomas  Beener  was  appointed Chief Executive Officer of Greenland Corporation.

Subsequent to December 31, 2001, the Company entered into a settlement agreement
with  Michael Armani whereby the Mr. Armani agreed to make certain cash payments
to  the  Company  and  the  parties  entered  into mutual release of all claims.

<PAGE>
ITEM  8.

CHANGES  IN  AND  DISAGREEMENTS  WITH  ACCOUNTANTS  ON  ACCOUNTING AND FINANCIAL
DISCLOSURE
None

PART  III.
----------

Pursuant  to  General Instruction G(3) to Form 10-K, the information required by
Items  10,  11,  12,  and  13  of Part III is incorporated by reference from the
Company's definitive Proxy Statement with respect to its Fiscal Year 2001 Annual
Meeting  of  Stockholders,  to  be filed pursuant to Regulation 14A on or before
April  30,  2002.

PART  IV.

ITEM  13.

EXHIBITS,  FINANCIAL  STATEMENT  SCHEDULES,  AND  REPORTS  ON  FORM  8-K

(A)  List  of  documents  filed  as  part  of  this  report.

     (1)  Financial  Statements  -  Reference  is made to the index to Financial
        Statements  under  Item  7  in Part II hereof, where these documents are
        listed.

     (2)  Financial  Statement  Schedules  -  None

     (3)  Exhibits:

     3(a)   Amended  Certificate  of  Incorporation*

     3(b)   Amended  Bylaws*

     3(c)   Common  Stock  Specimen*

     10(a)  Greenland  Corporation  1999  Stock  Option  Plan  *

10(b)  Confidential  Settlement  Agreement  and Release of Claims by and between
SmartCash  ATM  and  Greenland  Corporation dated March 9, 2000, incorporated by
reference  to  Exhibit  10(e)  of  Form  10-KSB  filed  April  14,  2000.  *

10(c)  Interim  Work and Assignment Agreement between the Company and ACS Retail
Solutions,  Inc.,  dated June 24, 2000, incorporated by reference to Form 10-QSB
filed  August  14,  2000.  *

     (21)   List  of  Subsidiaries  of  the  Company

(B)  Reports  on  Form  8-K

On  March  26,  2002,  the  Company  filed  Form 8-K to report the change of its
certifying  accountant  to  Kabani  & Company, Inc. and to report stock purchase
agreement  with  Paradigm  Cabling  Systems

*Incorporated  by  Reference  from  previous  filings.

The  Company will furnish a copy of any exhibit to a requesting stockholder upon
payment  of  the  Company's  reasonable  expenses  in  furnishing  such exhibit.

<PAGE>
SIGNATURES

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

     Date:     April  16,  2002          GREENLAND  CORPORATION

                         By:     /s/  Thomas  Beener
                                 -------------------
                                      Thomas  Beener
                               Chief Executive Officer

                                POWER OF ATTORNEY

KNOW  ALL  PERSONS  BY  THESE PRESENTS, that each person whose signature appears
below  hereby  constitutes  and appoints, Thomas Beener as his attorney-in-fact,
each  with  full power of substitution and resubstitution, for him or her in any
and all capacities, to sign any and all amendments to this Annual Report on Form
10-KSB  (including  post-effective  amendments),  and  to  file  the  same, with
exhibits  thereto  and  other  documents  in  connection  therewith,  with  the
Securities  and  Exchange  Commission,  granting unto said attorney-in-fact full
power and authority to do and perform each and every act and thing requisite and
necessary  to  be  done  in  connection  therewith  as  fully to all intents and
purposes as he might or could do in person, hereby ratifying and confirming that
said  attorney-in-fact,  or  his  substitute  or substitutes, may lawfully do or
cause  to  be  done  by  virtue  hereof.

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

<TABLE>
<CAPTION>



<S>                                                               <C>                             <C>
SIGNATURE
----------------------------------------------------------------
  TITLE. . . . . . . . . . . . . . . . . . . . . . . . . . . . .  DATE
----------------------------------------------------------------  ------------------------------
  Chief Executive Officer and
/s/ Thomas Beener. . . . . . . . . . . . . . . . . . . . . . . .  Director                        April 16, 2002
----------------------------------------------------------------
Thomas Beener. . . . . . . . . . . . . . . . . . . . . . . . . .  (Principal Executive Officer )
  Chairman of the Board of Directors Chief Financial Officer and
/s/ Gene Cross . . . . . . . . . . . . . . . . . . . . . . . . .  Director                        April 16, 2002
----------------------------------------------------------------
Gene Cross . . . . . . . . . . . . . . . . . . . . . . . . . . .  (Principal Accounting Officer)
/s/ George Godwin. . . . . . . . . . . . . . . . . . . . . . . .  April 16, 2002
----------------------------------------------------------------
George Godwin. . . . . . . . . . . . . . . . . . . . . . . . . .  Director
</TABLE>

Pursuant  to  the requirements of Section 13 or 15(d) of the Securities Exchange
Act  of  1934,  the  registrant  has duly caused this report to be signed on its
behalf  by  the  undersigned,  thereunto  duly  authorized.

<PAGE>