SECURITIES AND EXCHANGE COMMISSION
                          WASHINGTON, D.C. 20549

                               Form 10-KSB

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

                    For the Year ended December 31, 2002


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

         For the transition period from _____________ to _____________


                       Commission file number 33-27651


                         J R BASSETT OPTICAL, INC.
                         -------------------------
                      (Formerly OPTICAL EXPRESS, INC.)
       (Exact name of small business issuer as specified in its charter)

          DELAWARE                                87-0469497
          --------                                ----------
  (State or other jurisdiction          (IRS Employer Identification No.)
of incorporation or organization)


               600 S. W. 10th Street, Ocala, Florida 34474
               -------------------------------------------
                (Address of principal executive offices)

                             352-629-7509
                             ------------
                      (Issuer's telephone number)


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

                   Yes  [X]              No  [  ]


                     APLICABLE ONLY TO CORPORATE ISSUERS

    State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date:

        Class                          Outstanding as of December 31, 2002
        -----                          -----------------------------------
Common Stock $.001 Par Value                   31,703,700



<PAGE>                              1





I.  FINANCIAL INFORMATION
    ---------------------

ITEM 1.   FINANCIAL STATEMENTS
------    --------------------

J R Bassett Optical, Inc. discontinued operations on August 31, 1995
and as such had no revenues, expenses, assets or liabilities as of
that date and continuing through the date covered by this annual
report, with the exception of accounting and legal fees for filing
Securities and Exchange Commission documents and the Corporate Income
Tax Return.

                          J R BASSETT OPTICAL, INC.
                          -------------------------
                          CONDENSED BALANCE SHEETS
                          ------------------------

     For the Years Ended December 31, 2002, 2001, 2000, 1999, and 1998

<TABLE>
<CAPTION>

                                  ASSETS
                                  ------

                                  12-31-01      12-31-00      12-31-99      12-31-98      12-31-97
                                  --------      --------      --------      --------      --------
<S>                             <C>           <C>           <C>           <C>           <C>

Current Assets                  $    410.00   $      0.00   $      0.00   $      0.00   $      0.00

Depreciable Assets                     0.00          0.00          0.00          0.00          0.00

Other Assets                           0.00          0.00          0.00          0.00          0.00
                                 ----------    ----------    ----------    ----------    ----------

Total Assets                    $    410.00   $      0.00   $      0.00   $      0.00   $      0.00

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

                      LIABILITIES & STOCKHOLDERS' EQUITY
                      ----------------------------------

Current Liabilities             $  7,898.74   $  3,350.00   $      0.00   $      0.00   $      0.00

Long-Term Liabilities                  0.00          0.00          0.00          0.00          0.00
                                 ----------    ----------    ----------    ----------    ----------

Total Liabilities                  7,898.74      3,350.00          0.00          0.00          0.00

Stockholders' Equity:
Common Stock, $0.001 Par Value,
31,703,700 shares authorized,
issued and outstanding            31,703.70     31,703.70     31,703.70     31,703.70     31,703.70

Capital in excess of par value         0.00          0.00          0.00          0.00          0.00

Retained Earnings (Deficit)      (39,192.44)   (35,053.70)   (31,703.70)   (31,703.70)   (31,703.70)
                                 ----------    ----------    ----------    ----------    ----------

Total Stockholders' Equity
(Deficit)                        ( 7,488.74)     3,350.00          0.00          0.00          0.00
                                 ----------    ----------    ----------    ----------    ----------
Total Liabilities and
Stockholders' Equity            $    410.00   $      0.00   $      0.00   $      0.00   $      0.00
                                  =========    ==========    ==========    ==========    ==========

</TABLE>



UNAUDITED - See attached Report of Certified Public Accountants.
See attached Notes to Financial Statements



<PAGE>                              2




                         J R BASSETT OPTICAL, INC.
                         -------------------------
                  CONDENSED STATEMENTS OF OPERATIONS AND
                  --------------------------------------
                       RETAINED EARNINGS (DEFICIT)
                       ---------------------------

         Years Ended December 31, 2002, 2001, 2000, 1999, and 1998

<TABLE>
<CAPTION>

                                  12-31-02      12-31-01       12-31-00      12-31-99      12-31-98
                                  --------      --------       --------      --------      --------
<S>                              <C>           <C>            <C>           <C>           <C>

Revenue                          $     0.00    $      0.00    $      0.00   $      0.00   $      0.00
Expenses                           3,350.00       3,350.00           0.00          0.00          0.00
                                 ----------     ----------     ----------    ----------    ----------

Net Income (Loss)                 (3,350.00)    ( 3,350.00)          0.00          0.00          0.00

Retained Earnings:
Beginning of Period (Deficit)    (35,053.70)    (31,703.70)    (31,703.70)    (31,703.70)  (31,703.70)
                                 ----------     ----------     ----------     ----------   ----------

End of Period (Deficit)         $(39,192.44)   $(35,053.70)   $(31,703.70)   $(31,703.70) $(31,703.70)
                                 ==========     ==========     ==========     ==========    =========

</TABLE>



UNAUDITED - See attached Report of Certified Public Accountants.
See attached Notes to Financial Statements



                         J R BASSETT OPTICAL, INC.
                         -------------------------
                   CONDENSED STATEMENTS OF CASH FLOWS
                   ----------------------------------
        Years Ended December 31, 2002, 2001, 2000, 1999, and 1998

<TABLE>
<CAPTION>

                                        12-31-02      12-31-01      12-31-00      12-31-99      12-31-98
                                       ----------    ----------    ----------    ----------    ----------
<S>                                    <C>           <C>           <C>           <C>           <C>

Cash Flows from Operating Activities:
Cash received from services            $      0.00   $     0.00    $     0.00    $     0.00    $     0.00
Payments of expenses                    ( 4,398.74)   (    0.00)    (    0.00)    (    0.00)    (    0.00)
                                        ----------    ----------    ----------    ----------    ----------
    Net Cash Provided by
     Operating Activities               ( 4,398.74)        0.00          0.00          0.00          0.00

Cash Flows from Financing Activities:
Proceeds from stockholder loan            4,398.74         0.00          0.00          0.00          0.00
Principal payments on note payable      (     0.00)   (    0.00)    (    0.00)    (    0.00)    (    0.00)
                                        ----------    ----------    ----------    ----------    ----------
    Net Cash Provided by
     Financing Activities                 4,398.74         0.00          0.00          0.00          0.00

Cash Flows from Investing Activities:
Proceeds from sale of common stock            0.00         0.00          0.00          0.00          0.00
Purchase of fixed assets                (     0.00)   (    0.00)    (    0.00)    (    0.00)    (    0.00)
Purchase of other assets                (     0.00)   (    0.00)    (    0.00)    (    0.00)    (    0.00)
                                        ----------    ----------    ----------    ----------    ----------
    Net Cash Provided (Used) by
     Financing Activities                     0.00         0.00          0.00          0.00          0.00

Net Increase (Decrease) In Cash               0.00         0.00          0.00          0.00          0.00

Cash at Beginning of Year                     0.00         0.00          0.00          0.00          0.00
                                        ----------    ----------    ----------    ----------    ----------

Cash at End of Year                    $      0.00   $     0.00    $     0.00    $     0.00    $     0.00
                                        ==========    =========     =========     =========     =========

Reconciliation of Net Income to Net Cash Provided by Operating Activities:

Net income (loss)                      $( 4,138.74)  $(3,350.00)   $     0.00    $     0.00    $     0.00

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation                                  0.00         0.00          0.00          0.00          0.00
(Increase) in current assets            (   410.00)   (    0.00)    (    0.00)    (    0.00)    (    0.00)
Increase in current liabilities             150.00     3,350.00          0.00          0.00          0.00
                                        ----------    ---------    ----------    ----------    ----------
Net Cash Provided by
  Operating Activities                 $( 4,398.74)  $     0.00    $     0.00    $     0.00    $     0.00
                                        ==========    =========     =========     =========     =========
</TABLE>



UNAUDITED - See attached Report of Certified Public Accountants.
See attached Notes to Financial Statements


<PAGE>                              3




ITEM 2.   NOTES TO FINANCIAL STATEMENTS
------    -----------------------------

                          J R BASSETT OPTICAL, INC.
                          -------------------------
                   NOTES TO CONDENSED FINANCIAL STATEMENTS
                   ---------------------------------------

1.  Organization
    ------------
J R Bassett Optical, Inc. (formerly Optical Express, Inc.) is
organized, under the laws of the State of Delaware.  The Company is
a reporting company under section 13 or 15(d) of the Securities
Exchange Act of 1934 (Commission file number 33-27651

2.  History of the Company
    ----------------------
J R Bassett Optical, Inc. (the "Company") was established under the
laws of the state of Utah in March 1989, under the name "Bluefield
Enterprises, Inc."  Bluefield Enterprises, Inc. had no operations
until July, 1992, when the Company merged with Optical Express,
Inc., a Florida corporation engaged in the business of operating
retail eyewear stores in Central Florida, at which time the name of
the Company was changed to Optical Express, Inc.

In August 1993, the Company merged with The AppleTree Companies,
Inc., a Delaware corporation, ("AppleTree") and became an operating
subsidiary of AppleTree.  At that time, AppleTree owned 28,367,500
shares of the Company's common stock of 31,703,700 shares
outstanding.  In order to reflect the expansion of the Company into
other states, in 1993, the name of the Company was changed to J R
Bassett Optical, Inc.  The operations of the Company were
discontinued on August 31, 1995.  On April 4, 1997, AppleTree filed
for bankruptcy protection and reorganization (Chapter 11) in the
United States Bankruptcy Court, Eastern District of Virginia,
Norfolk Division, Case No. 97-22597-SCS.

On November 18, 1999, The United States Bankruptcy Court, Eastern
District of Virginia, Norfolk Division approved the sale of
28,367,500 AppleTree Companies, Inc. stock of J R Bassett Optical,
Inc. to Robert E. Williams, the former Chief Executive Officer and
Chairman of the Board.

3.  Business of the Company
    -----------------------
The Company currently has no operations or employees.  The Company
is searching for and investigating business opportunities.
However, there can be no assurance that the Company will be
successful in its search for such opportunities.  The Company
presently intends to investigate and/or engage in one or more of
the following activities ("Venture Activities"): (1) acquisition of
at least a majority interest in and operational control of,
business enterprises; (2) development and marketing of commercial
enterprises, products and/or services; and (3} participation in
business ventures with existing or newly formed business entities
on a joint venture or other active business relationship basis.
The Company may also take equity positions in certain business
enterprises through the direct purchase of securities or through
other financing methods including the utilization of debt financing
and may purchase franchises and/or license products or services.
In any case, The Company intends to, directly and/or through
subsidiaries or affiliates, acquire and maintain a controlling
interest in the entities it acquires or establishes Management
anticipates that the selection of business enterprises, products or
services for acquisition will be complex and risky.  Because of the
Company's limited financial capabilities at this time, it is
anticipated that the Company may not be able to diversify its
acquisitions.

The Company will consider the quality of the management of any
business acquisition candidate and the operating records of the
entity, the soundness of the service or product to be developed or
being developed, the effect of market and economic conditions and
governmental policies on the business and its products, the nature
of its competition, and the total projected required capital.  At
this time, the Company cannot predict the manner in which it may
acquire and/or participate in the establishment and/or financing of
a business enterprise.

4.  Basis of Accounting
    -------------------
The accompanying financial statements use the accrual basis of
accounting, which the Company expects to use for both financial
statement and income tax purposes.  Consequently, revenues are
recognized when earned and expenditures are recognized when
incurred.

5.  Revenues and Expenses
    ---------------------
The Company discontinued operations on August 31, 1995 and as such
had no revenues, expenses, assets or liabilities as of that date
and continuing through the date covered by this annual report,
except for professional fees related to Securities and Exchange
Commission fillings and filing of the Corporate tax returns.

6.  Common Stock
    ------------
The Company has 31,703,700 shares of common stock, $0.001 par
value, authorized, issued and outstanding.  Since the Company has
no assets other than the value of being a reporting company, the
original capitalization, retained earnings (deficit) and any
additional capital investments have been eliminated.

7.  Description of Property
    -----------------------
The Company currently occupies space, rent free, in the offices of
Robert E. Williams, the Company's President, located at 600 SW 10th
Street, Ocala, Florida 34474.




<PAGE>                              4




8.  Legal Proceedings
    -----------------
The Company is not a party to any litigation or governmental
proceedings that management believes would result in any judgments
or fines that would have a material adverse effect on the Company.

9.  Market for Common Equity and Related Stockholder Matters
    --------------------------------------------------------
There is no public trading market for the Common stock of the
Company.  The Company's common stock has not traded since August
1993, at which time it traded on the over-the-counter market.  As
of September 30, 2002, there were 140 holders of record of the
Company's Common Stock.  The Company has not paid any cash
dividends on its Common Stock and does not currently intend to
declare or pay dividends in the foreseeable future.  The Company
intends to retain any earnings that may be generated to provide
funds for the operation and expansion of its business.


ITEM 3.   REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
-------   --------------------------------------

                     Bomar, Hammett & Odom, CPA's, P.A.

                  Certified Public Accountants & Associates

                              Ocala, Florida

                  REPORT OF CERTIFIED PUBLIC ACCOUNTANTS

Board of Directors
J R Bassett Optical, Inc.
Ocala, Florida

We are not independent with respect to J R Bassett Optical, Inc., and
the accompanying balance sheets as of December 31, 2002, 2001, 2000,
1999, and 1998, and the related statements of income and retained
earnings, and cash flows for the years then ended were not audited by
us and, accordingly, we do not express an opinion on them.


/s/Bomar, Hammett & Odom, CPA's, P.A.

Ocala, Florida
April 21, 2003



II.	OTHER INFORMATION
-------------------------

OTHER INFORMATION is not presented per the instructions to Part II
since the items are inapplicable or answered in the negative.

                                SIGNATURES
                                ----------

Pursuant to the requirement of the Securities and Exchange Act of
1934, the registrant has duly caused this report be signed on its
behalf by the undersigned thereunto duly authorized.

                                       J R Bassett Optical, Inc.
                                       (Formerly, Optical Express, Inc.)


April 21, 2003                         /s/Robert E. Williams
                                       ________________________
                                       Robert E. Williams
                                       President / C.E.O.



<PAGE>                              5