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                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 10-KSB


            [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934
                   For the fiscal year ended December 31, 2000

                                       OR

          [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934
                         Commission file number _______


                            CCC GLOBALCOM CORPORATION
           (Name of Small Business Issuer as specified in its charter)


            Nevada                                       36-3693936
     -------------------------                        --------------------
      (State or other jurisdiction of                  (I.R.S. employer
       incorporation or organization)                  identification No.)


                          16350 Park Ten Place, Suite 241
                                   Houston, Texas
                                   --------------

                                     (Zip Code)
                                       -------
                                        77084
                      (Address of principal executive offices)

           Issuer's telephone number, including area code:  (281) 579-7878


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

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

     Check whether the Issuer (1) has filed all reports  required to be filed by
Section 13 or 15(d) of the Exchange  Act 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
 .

     Check if there is no disclosure  of  delinquent  filers in response to Item
405 of  Regulation  S-B  contained  in  this  form,  and no  disclosure  will be
contained, to the best of Issuer's knowledge, in definitive proxy or information
statements  incorporated  by  reference  in Part  III of this  Form  10-K or any
amendment to this Form 10-K.

      The  Issuer's  revenues  for the fiscal year ended  December 31, 2000 were
$1,827,364.

      As of March 27, 2001,  32,241,403 shares of the Issuer's common stock were
issued and outstanding of which  10,286,389 were held by  non-affiliates.  As of
March 27, 2001,  the  aggregate  market  value of shares held by  non-affiliates
(based upon the closing price reported by the OTC  Electronic  Bulletin Board of
$4.00) was approximately $41,145,556.


                     DOCUMENTS INCORPORATED BY REFERENCE:  NONE



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                                    PART I

ITEM 1.  DESCRIPTION OF BUSINESS

General

      CCC Globalcom Corporation, a Nevada Corporation ("the Company") is engaged
in the  telecommunications  industry.  The  Company's  operations  are primarily
conducted  by CCC  Globalcom,  a Texas  corporation  ("CCC  Texas") and by Ciera
Network Systems,  Inc., a Texas corporation  ("Cierra") which is a subsidiary of
CCC Texas.

      We commenced operations in the telecommunications industry on June 9, 2000
when we acquired CCC Texas and its subsidiary  Ciera. CCC Texas was incorporated
in the State of Texas on  August  9,  1999 to  engage in the  telecommunications
industry. CCC Texas has not conducted any operations except for (i) developing a
business  plan;  (ii)  acquiring   Ciera.  and  (iii)   identifying   additional
acquisition  targets and  commencing  discussions  with the  principals  of such
acquisitions  targets.  Througout  the 10-KSB when we use the term "we",  we are
referring to the Company and its subsidiaries.

      We are a  switchless  or  non-facilities  based  company  which  means  we
primarily  resell  communication  services  we buy  from  other  providers  on a
wholesale  basis.  These other  providers may or may not be  transparent  to our
customers,  however,  it is  intended  that the  majority  of the  products  and
services  will be  private  labeled  to carry the CCC  Globalcom  name and logo,
creating name recognition and market presence for our product.

      Our  initial  primary  business  strategy  is  to  offer  "CLEC"  services
(Competitive Local Exchange Companies) in the United States and internationally.
We also offer or intend to offer a wide variety of  communication  services such
as voice, data and broadband  communication services. We offer these services to
customers on a single bill ("bundled services").

      We have recently commenced  operations in Columbia,  South America through
our  wholly-owned  subsidiary with the construction of our first calling center.
We have been  approved by Capitel  Telecom for four  additional  "Communications
Centers and anticipate that we will commence  construction  on these  additional
calling centers in the near future.

Business Strategy

      We  seek  to be a  leading  provider  of  telecommunications  services  to
residential and small and medium-sized  business customers in select markets. To
achieve this goal, we are pursuing the following strategies:

o    Focus on Underserved  Small and Medium-sized  Business  Customers in Select
     Markets - Small and Medium-sized Businesses.  We focus on meeting the needs
     of small and medium-  sized  business  customers in the markets in which we
     compete. Our typical customer

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does not employ a  dedicated  telecommunications  manager  and has fewer than 50
     access lines. We provide these customers with the opportunity to purchase a
     comprehensive  package of  telecommunications  products and services from a
     single source. We believe that these business  customers have traditionally
     been underserved by the incumbent telephone companies.  We believe that our
     potential customers  frequently do not receive competing proposals and that
     we face a level of  competition  far below that  experienced  by integrated
     communications providers competing for larger customers.

o    Relationship with Incumbent  Telephone  Company.  Our business is currently
     concentrated in Southwest Bell territory, which allows us to:

o    develop key business practices based on our familiarity with Southwest Bell
     that speed our ability to install access lines;

o    address the competitive  strengths and weaknesses of our major  competitor;
     and

o    build business relationships with key Southwest Bell contacts.


o    Deploy a Flexible,  Technologically Advanced Network in a Capital-efficient
     Manner . We are  building  our  network of  providing  services on a resell
     basis by selecting vendors that offer advanced communications equipment and
     products with the  flexibility  to meet the current and future needs of our
     customers.  We believe that our network deployment strategy will reduce our
     initial  capital  expenditures,  provide us with better control of customer
     service  and reduce our time to market.  This  strategy is built on several
     principles including:

o    Provide a Complete  Telecommunications Solution at a Competitive Price with
     Superior  Customer  Service.  We  believe  that  residential  and small and
     medium-sized  business customers want bundled services from a single source
     with competitive  pricing and exceptional  customer service.  Our customers
     require  a  complete  range of  advanced  data,  Internet,  local  and long
     distance services.  They typically prefer to purchase these services from a
     single provider rather than from multiple providers.

o    Competitive  Pricing.  Residential  and small and  medium-sized  businesses
     require customized services at competitive prices, which we believe are not
     being provided by the incumbent telephone companies. Government regulations
     require  incumbent  telephone  companies  to  provide  service to an entire
     community and therefore  they are not able to focus on a particular  market
     to provide the most cost-effective services. We believe that our ability to
     focus on the small and  medium-sized  business  market segment allows us to
     provide more competitive prices. We can also

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              provide  cost-effective  service because our equipment and systems
              are more technologically advanced, and we have less overhead.

o    Superior  Customer  Service.  We seek to provide a higher level of customer
     service  than our  small  and  medium-sized  customers  have  traditionally
     experienced.  We develop  long-term  relationships  with our  customers  by
     acting as their  telecommunications  manager  and by  staying  in close and
     regular  contact with them.  We provide  superior  customer  service at the
     local  level  including:  - a dedicated  account  manager  responsible  for
     proactive  customer  management and  responding to customer  needs; - local
     sales  representatives  who understand  the needs of small  businesses in a
     particular locality; - rapid, on-site response to service problems from our
     local  technicians;  and - leading  operational and billing support systems
     that facilitate exceptional customer service.

o    Cross-sell to Our Own Customers. Our sales and service relationship enables
     us to cross-sell voice and data services to our customers. This provides us
     an attractive base of target customers for our voice and data services.

o    Improve Customer Service and Maintain  Customer  Loyalty.  Frequent contact
     with our customers  allows us to build a close  customer  relationship  and
     provide a high level of customer  service.  Frequent  customer contact also
     helps us to anticipate changing customer needs, respond quickly to customer
     concerns and learn about  proposals from  competitors.  In addition,  these
     companies   provides  us  with  rapid  access  to  quality   field  service
     technicians

Industry Background and Government Regulation

      The telecommunications industry's structure has until recently been formed
by a 1982 court decree (the "Consent Decree") between AT&T and the United States
Department  of  Justice  which  required  the  divestiture  by AT&T of its  Bell
operating  companies  and divided the country into 201 Local Areas and Transport
Areas  ("LATA's").  The 22 Bell  operating  companies,  which were combined into
seven Regional Bell Operating Companies ("RBOCs"), were allowed to provide local
telephone  service,  local access service to long distance  carriers and service
within  LATAs  ("intraLATA  service").  However,  the right to  provide  service
between  LATAs  ("InterLATA  service")  was  restricted  to AT&T and other  long
distance carriers.

      Before the break-up of AT&T, AT&T had a near monopoly on all long distance
service in the United States.  Deregulation  provided an  opportunity  for firms
offering  superior  service  and pricing to enter the long  distance  market and
enabled the creation of significant companies such as MCI, Sprint,  WorldCom and
Frontier.

         To  encourage  competition  in the long  distance  market,  the Consent
Decree and certain FCC  regulations  require most RBOCs and other local exchange
carriers ("LECs") to provide access to

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local  exchange  services  that is "equal in type,  quality  and  price" to that
provided to AT&T and with the  opportunity  to be selected by customers as their
preferred long distance carrier. These "equal access" provisions are intended to
prevent  preferential  treatment  of AT&T by LECs and,  with  other  regulatory,
judicial and  technological  factors,  have helped  smaller  companies to become
competitive  alternatives to AT&T,  MCI/WorldCom  ("MCI") and Sprint Corporation
("Sprint")  for long  distance  services.  These equal  access  competitors  are
CLEC's.

        On February 8, 1996, the President signed the  Telecommunications Act of
1996,  designed  to  introduce  more  competition  into U.S.  telecommunications
markets.  This Act  increases the  potential  for  competition  in both the long
distance services market,  by removing the prohibitions  against RBOCs providing
long distance  services,  and in the local services  market by requiring LECs to
permit  interconnection  to their  networks,  thus  allowing  long  distance and
regional carriers to compete in local markets.

      In the local telecommunications  market, the incumbent telephone companies
had a  monopoly  prior to the  Telecommunications  Act.  This law  required  the
incumbent  telephone companies to unbundle network elements and permit companies
such as ours to purchase only the origination and termination services they need
at   wholesale   prices.   The  result  has  been  the   opening  of  the  local
telecommunications   market  to  competition.   Only  3%  to  5%  of  the  local
telecommunications  market  has been  penetrated  by  providers  other  than the
incumbent providers. We believe that over the next five years, competitive local
telephone providers will gain a significantly  greater percentage of this market
because the incumbent  telephone companies provide marginal customer service and
limited  product   offerings.   According  to  industry   analysts,   integrated
communications  providers' revenues will grow from $5.5 billion in 1998 to $14.0
billion in 2002, representing a 26% compounded annual growth rate.

Growth in Demand for Data Services

      According to Cahners In-Stat Group, a leading industry analyst, the market
for domestic  business  data services is estimated to grow from $22.7 billion in
1998 to $50.6 billion in 2003, representing a 17% compounded annual growth rate.
The small and medium-sized  business segment of this market is estimated to grow
from  $5.2  billion  in  1998 to  $13.3  billion  in  2003,  representing  a 21%
compounded  annual growth rate. Three principal  drivers of increased demand for
data  services  are  Internet  usage,   e-commerce  and  applications  services.
International  Data Corp., or IDC estimates that the number of Internet users in
the United States  exceeded 69 million in 1998 and will grow to over 197 million
by 2003,  representing a 23%  compounded  annual growth rate. IDC also estimates
that the volume of  e-commerce in the United  States  exceeded  $44.0 billion in
1998 and will grow to over $726.0 billion by 2003, representing a 75% compounded
annual  growth rate.  In 1999,  customers  spent $300.0  million on  enterprise,
collaborative and personal applications  services. IDC expects customer spending
on these services to grow at a 92%  compounded  annual growth rate to reach $7.7
billion in 2004.


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Growth in Demand for Voice Services

      According  to the Yankee  Group,  the market for domestic  business  voice
services is estimated to grow from $113.0  billion in 1998 to $137.0  billion in
2002 representing a 5% compounded annual growth rate. The small and medium-sized
business  segment of this market is estimated to grow from $49.0 billion in 1998
to $75.4 billion in 2003 representing a 9% compounded annual growth rate.

Ciera

      Ciera  was  formed  in  December   1998  to  commence   operations   as  a
non-facilities based reseller of voice and data telecommunications services. Its
business  plan is to offer  customers a broad range of  communications  services
such as long  distance,  paging,  cellular  telephone,  internet,  local access,
prepaid  services and various  enhanced  services.  Ciera's  business plan is to
offer "bundled  billing  services" to customers where they receive a single bill
for all of the telecommunication services that a customer selects.

      Ciera was formed to acquire  the  bundled  billing  services  concept of a
company  known  as  Wireless  Communications  Technology,  Inc.  ("WCTI").  WCTI
developed  a business  plan to offer the  bundled  billing  services  concept to
customers.  After  developing  the  concept,  WCTI  decided to focus on its core
business which was developing wireless telecommunications services in developing
countries.  WCTI then transferred the bundled billing services business plan and
concept,  as well as  certain  contracts,  to Ciera in  exchange  for  shares of
Ciera's common stock.  Prior to its  acquisition by CCC Texas,  Ciera had raised
approximately  $678,000 in net cash from the sale of its  securities in order to
provide it with initial capital to commence operations.

      Effective  June 30, 2000,  Ciera  acquired  the  customer  base of Virtual
Network Company. This customer base consisted of approximately 3,000 customers.

      Ciera currently operates in the States of Texas and Missouri. The services
currently  offered  by  Ciera  are  the  following:   local  telephone  service,
long-distance telephone service,  paging service,  internet service and cellular
service..  These  services  are more  fully  described  below in  "Products  and
Services to be Offered". Ciera has entered into several agreements with services
providers  and others  which are  described  below in "Business of the Company -
Contracts".  Ciera's  Marketing  efforts are described below in "Business of the
Company - Sales and Marketing".

      During  the  year  ended  December  31,  2000,  all of our  revenues  were
generated  through  Ciera's  operation.  Ciera's  total  revenues for the twelve
months ended December 31, 2000 were $1,827,364 with a gross profit of $402,104.

Products and Services to be Offered

      The products and  services  that we offer or currently  plans to offer our
customers are as follows:


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              CLEC  (Competitive  Local Exchange  Carrier) CLEC services are the
      local exchange  telephone  services  today provide by the Incumbent  Local
      Exchange Carriers (such as Southwestern  Bell, GTE, United,  etc.).  Today
      this service is  deregulated  in the United States and it is believed that
      it will be  deregulated  in both South and Central  America in the future.
      These  services  offer  customers  local  switched and enhanced  telephone
      services.  We obtain local  telephone  services from REC's and CLEC's on a
      wholesale basis.

              Land Line - One Plus  Long  Distance.  This  service  would  offer
      customers  the ability to make outbound  switched  long distance  calls by
      simply  dialing a 1, plus the area code and phone  number.  Customers  can
      select us as their  primary long  distance  provider.  This service may be
      used for both domestic and international calling.

              Internet.  The Internet has rapidly  become a powerful tool in the
      world of communications  and commerce.  It provides access to databases at
      almost every major university,  research center, and library in the world.
      Millions of  businesses  communicate  through  electronic  mail  (E-mail),
      remote login, file sharing and transfer,  and other real-time  activities.
      Our business plan calls for us to provide Nationwide Dial-up and Dedicated
      Internet access solutions for our customers.

              PrePaid  Communications  Services.  We will offer this  service to
      provide access to local and long distance  telecommunications services via
      a pre-paid method.  The demand existing for this service is fueled by that
      segment of the market  unable to secure a postpaid  account  due to credit
      stress  or  those  subscribers  who are  budget  conscious  and  prefer  a
      "pay-as-you-go" account. These services include Prepaid Cellular,  Prepaid
      Paging,  Prepaid Internet,  Prepaid Calling Cards and Prepaid Local access
      (dial tone).

Marketing Strategy

      Our  marketing  strategy is to focus on  commercial  customers who utilize
multiple  communication  services and multiple  communication devices as well as
high-value residential end user customers. Our goal is to become a multiservice,
fully  integrated  end-to-end  solution  provider  managing  all  aspects of the
customer's  communications,  including the provision of all telephony,  utility,
interactive and entertainment  services as the various fields  deregulate.  This
strategy allows us to offer  cross-promotional  discounts to customers resulting
in increased customer satisfaction and retention.

      We believe  that  product  "bundling"  offers the  opportunity  to compete
effectively,  uncover new revenue  potential and diversify into other  services.
Being the sole provider  also  translates  into one bill,  one point of customer
contact and a major value proposition for consumers.

      We will offer the same "bundled"  services on a wholesale  basis to agents
and  resellers of  communication  products and  services.  The delivery of these
"bundled services" can be attained through typical distribution channels such as
internal direct sales, resellers, agents, store front

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locations and  telemarketing.  Other  non-traditional  sales channels would
include the sale of such services over the Internet.

       By acquiring smaller resellers who have single product customer bases and
limited  growth  resources,  we believe we can leverage its  investment  in such
companies by  re-contacting  these  customer  bases and selling these  customers
additional services.

Sales and Marketing

      We conduct  sales  efforts  through  direct sales  personnel,  store front
sales,  third-party  agent and direct  telemarketing  sales  force.  Factors our
management will consider when selecting a telemarketing  company will be include
their ethics,  results and the ability to contact a defined  market and to close
the sale.

      We intend to use  billing and  customer  information  management  systems.
These systems will be the backbone of the customer support center.  Such systems
enable   customer   support  staff  to  obtain  all  customer   information  and
electronically  implement  customer  administration  and create service  trouble
records.  We are  developing  customer  support  operations  to answer  customer
questions,  assist  customers  in use of our  services and to advise them on the
purchase of new services and products.

      We believe that post-sales  support is key to keeping  customer usage high
and is the prime  mechanism  for  additional  sales of service and  reduction of
customer chum.

      As part of the after  sales  support,  we intend to  develop a  pro-active
customer  retention  program.  Our management  believes this will keep customers
online and  differentiate  us from other  competitors.  Our  customer  retention
program involves the following action:

o    After the customer signs up for service, we contact the customer to welcome
     them as customers;

o    After the first billing,  we contact the customer to ask if they understand
     the billing. At this time, we offer additional services to customers;

o    Approximately  every 90 days, we contact the customer to inquire as to what
     we may do to assist the customers.  At this time,  Ciera offers  additional
     services to customers.

      We are currently marketing our services in a variety of methods including:
(i)  independent  agents selling our services;  (ii)  telemarketing  directed at
small businesses; (iii) targeting corporate accounts by Ciera's executives; (iv)
wholesale sales of services of Ciera's executives.


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Contracts

      The Company has entered,  and will continue to enter,  into contracts with
various  service  providers for services which will be resold to customers.  The
contracts  currently  in place  have no  material  minimum  commitment  with the
exception of MCI, which  provides for a minimum  commitment of $50,000 per month
for 36 months.  The Company  believes it has  sufficient  contracts  in place to
handle its current business levels and expects no change in the future.

Billing Services

      Sophisticated  information  processing systems are vital to our growth and
our ability to add new customers and new products, monitor costs, render monthly
invoices for services,  process  customer  orders,  provide customer service and
achieve  operating  efficiencies.  We prepare and deliver a single,  integrated,
comprehensive  invoice for all the  services  which we provide.  We believe this
billing system will  differentiate  us from other  companies  offering  "bundled
services".  Unlike other billing systems, this service delivers a single invoice
for an integrated comprehensive suite of voice, data, wireless, conferencing and
local services.

Communication Centers.

      Many Colombian residents do not have telephone services in their residents
and are required to make telephone calls at pay phones.  We have recently formed
Computel de Colombia, as a wholly-owned subsidiary,  under the laws of Columbia,
to operate Communication centers. These communication centers are indoor calling
centers  designed to serve travelers and the large population of the country who
do not have personal telephones.  Communication  centers are a widely recognized
and utilized medium in Columbia,  Mexico, and other Latin American countries but
do not currently have a real equivalent in the U.S.

      We have recently commenced operations at our first Communication Center in
Bogata,  Columbia. This first Communication Center has five telephones and three
local access stations for Internet  access.  Subject to adequate  financing,  we
intend to open an additional 26 Communication centers during the next 12 months.
Each location will employ at least one attendant,  who processes calls, monitors
call  duration,  collects  money and runs  daily  reports on call  activity.  As
compared to public pay telephones, our centers offer privacy and comfort as well
as the  personalized  attention  needed by customers  who are not  accustomed to
using a telephone.

      Computel de Colombia  has an agreement  with Capitel  Telecom (the largest
telephone  company  in  Colombia)  in  connection  with  the  operation  of  the
Communication Centers.  Capitel Telecom has agreed to fund the costs of bringing
telephone service  connections,  both national and international  communications
services, to each of the Communication  Centers. We will be required to fund the
costs of constructing  and operating the  Communication  Centers.  We anticipate
that it will cost approximately $16,000 to construct and equip each Call Center.
We  anticipate  that  approximately  $1,000,000  must be  allocated to fund this
project pursuant to our business plan.

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      There is  quite a bit of  competition  with  other  Communication  Centers
throughout Colombia, however this is a very localized business on a neighborhood
to neighborhood basis.

Proposed Acquisitions

      We intend to expand operations through  acquisitions of other operating or
newly  formed  telecommunications  companies  in the United  States and in other
countries.  We intend to use our  acquisition of Ciera, as a platform for future
acquisitions. We anticipate that by acquiring existing companies it will be able
to  reduce   the  time  and   overall   cost   necessary   to   compete  in  the
telecommunications industry.

      EqualNet.  On February 21, 2001,  CCC  Globalcom  Corporation  executed an
Asset Purchase Agreement to acquire the assets of Equalnet  Communication Corp.,
Equalnet  Corporation  and USC Telecom,  Inc.  (collectively  referred to as the
"Equalnet  Assets").  The Asset Purchase Agreement is subject to the approval of
the U.S.  Bankruptcy  Court.  (Equalnet  and some of its  subsidiaries  are in a
Chapter 11  Bankruptcy.)  On Friday,  March 23, 2001,  the judge signed an Order
approving  its sale of assets  pursuant to the Asset  Purchase  Agreements.  The
transaction is expected to close April 4, 2001,  effective the close of business
March 31, 2001. The assets which are the subject of the Asset Purchase Agreement
include  various fixed assets,  contracts,  receivables  and other  tangible and
intangible assets related to Equalnet's long distance resale business,  customer
service business and telephone debit and sales and service business.

      The purchase price of $8,000,000  will be paid from proceeds of $7,500,000
from a Revolving Enterprise Value Loan to be made to the Company by RFC Capital,
a division of Textron Financial and $500,000 cash paid at closing.  Equalnet and
its subsidiaries currently have an estimated 30,000 customers.

      In a related  transaction,  we have agreed to purchase three switches used
in the Equalnet  long  distance  business for $750,000  cash from dTel  Network,
L.L.C., a company controlled by the Chairman of the Board of Equalnet.

      The closing of the above  transactions  are contingent upon the closing of
the RFC Revolving  Enterprise Loan and the raising of additional equity pursuant
to a Private Memorandum currently in process.

      We are also considering  other acquisition  targets.  In order to purchase
and fund these companies, additional capital must be obtained.

Competition

      The communications  industry is highly  competitive.  We will compete with
many companies such as national and regional communications companies,  Regional
Bell Operating Companies ("RBOCs"), GTE Corporation and its affiliated companies
(collectively, the "GTE Companies"),

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Incumbent  Local  Exchange  Companies  ("ILECs"),   Competitive  Local  Exchange
Companies ("CLECs"),  national,  and regional and local communications  services
resellers,  microwave and satellite carriers,  wireless communications providers
and private  networks built by large  end-users.  Potential  competitors  (using
similar or different technologies) include cable television companies, utilities
and RBOCs outside their current local service areas. In addition,  we anticipate
future competition from large long distance carriers, such as AT&T, MCI Worldcom
("MCI") and Sprint Corporation  ("Sprint").  These companies have begun to offer
integrated  local  and long  distance  communications  services.  AT&T  also has
announced its intention to offer local services using a new wireless technology.
Several companies have begun to offer communications  services over the Internet
at races  substantially  below current long distance rates.  Companies  offering
communications  services  over  the  Internet  could  enjoy a  significant  cost
advantage  because  at this  time  they do not pay  carrier  access  charges  or
universal service fees.

      As a recent entrant in the integrated  communications service industry, we
have not  achieved and do not expect to achieve a  significant  market share for
any of our services. In particular, the RBOCs, the GTE Companies and other local
telephone companies have several advantages over us including:

o    long-standing  relationships with their customers,

o    financial,  technical and marketing  resources  substantially  greater than
     ours,

o    the  potential to  subsidize  competitive  services  with  revenues  from a
     variety of businesses, and

o    existing regulations that favor the ILECs over us in certain respects.

      The long distance telecommunications industry has relatively insignificant
barriers to entry, numerous entities competing for the same customers and a high
average churn rate, as customers  frequently  change long distance  providers in
response  to  the  offering  of  lower  rates  or   promotional   incentives  by
competitors.  We will compete with major carriers such as AT&T, MCI Worldcom and
Sprint,  as well as other  national  and  regional  long  distance  carriers and
resellers, many of who are able to provide services at costs that are lower than
our current costs. We believe the principal  competitive  factors  effecting the
long distance industry operations today are:

      o       pricing
      o       customer service
      o       accurate billing
      o       clear pricing policies
      o       variety of services

      Our ability to compete  effectively will depend upon our continued ability
to maintain high quality,  market driven  services at prices  generally equal to
those charged by our competitors.  We believe we must be in a position to reduce
our prices in order to meet  reductions  in rates,  if any, by others.  Any such
reductions could adversely effect our business.


                                      11

<PAGE>



      The  internet  services  market  is  highly  competitive.   There  are  no
substantial  barriers to entry,  and we expect that competition will continue to
intensify.  Our competitors in this market include  Internet  Service  Providers
(ISP's), other communications  companies,  online service providers and Internet
software   providers.   Many  of  these   competitors  have  greater   financial
technological and marketing resources than available to us.

Government Regulation

      The  telecommunications  industry  is  subject  to  numerous  governmental
regulations some of which are described below:

      Federal  Regulation.  International  non-dominant  carriers  must maintain
tariffs  on file  with the FCC.  The  tariffs  of  non-dominant  carriers,,  are
presumed lawful and are seldom  contested,  although those tariffs and the rates
and charges they specify are subject to FCC review.

         In October 1996,  the FCC adopted an order that  required  nondominant,
interstate,  interexchange carriers, to withdraw their tariffs,  insofar as such
tariffs apply to interstate services (the "Detariffing  Order").  Recently,  the
United  States  Court of Appeals for the  District of Colombia  Circuit  granted
motions for stay of the Detariffing Order, pending judicial review. According to
an FCC Public  Notice,  the result of this stay is that the  tariffing  rules in
place prior to the  effectiveness  of the Detariffing  Order are in effect,  and
nondominant  carriers  providing  interstate,  domestic  interexchange  services
continue to be required to file tariffs pursuant to the FCC's Rules.

      Among  domestic  local  carriers,  only the  current  LECs  are  presently
classified  by the FCC as dominant  carriers  for the  provision  of  interstate
access  services.  This means that the FCC  regulates  many of the LECs'  rates,
charges and services to a larger degree than it does for nondominant  companies.
The FCC's regulation of LECs is expected to decrease over time, especially given
the 1996  Telecommunications  Act. The FCC has proposed  that RBOCs that provide
out-of-region long distance services be regulated as non-dominant carriers.

      State Regulation.  Intrastate long distance operations are also subject to
various state law and regulations,  including prior certification,  notification
and  registration  requirements.  The vast majority of states require carries to
apply for certification to provide intrastate telecommunications services, or at
least  to  register  or be  found  exempt  from  regulation,  before  commencing
intrastate services.  Most states also require the carriers to file and maintain
detailed  tariffs listing their rates for intrastate  service.  Many states also
impose  various  reporting   requirements  and/or  require  prior  approval  for
transfers  of control  of  certified  carriers,  assignment  of carrier  assets,
including customer bases,  carrier stock offerings and incurrence by carriers of
significant  debt  obligations.  Certificates  of  authority  can  generally  be
conditioned,  modified,  canceled,  terminated  or revoked  by state  regulatory
authorities  for failure to comply with state law and/or the rules,  regulations
and policies of the state regulatory authorities.  Fines and other penalties may
also be imposed for such violations.\

     Other Regulations.  We intend to offer a variety of services in addition to
long distance  services.  Most, if not all of such services will be subject to a
variety of governmental regulations all of which

                                      12

<PAGE>



impact our business.  Furthermore,  we intend to engage in operations in foreign
countries, each of who have laws and regulations which will impact our business.
Compliance with  governmental  regulations will result in expenses and delays in
carrying out our business plan.

Employees

      We, together with our subsidiaries, currently have twenty- nine employees.


ITEM 2.  PROPERTIES

      Our executive office consists of  approximately  1,500 square feet located
at 16350 Park Ten Place, Suite 241, Houston,  TX 77084. We pay a monthly rent of
$2,426 per month for this space.  This lease expires December 31, 2001.  Ciera's
executive  office  consists of  approximately  7,600 quare feet  located at 2630
Fountain View,  Suite 300,  Houston,  TX 77057.  Ciera is currently  renting its
space  on a month to month  basis  for a  monthly  rate of  $8,375  until a more
permanent arrangement can be executed.

ITEM 3.  LEGAL PROCEEDINGS

      None

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

      No matters were submitted to our  shareholders  for a vote during the last
quarter of the year ended December 31, 2000.


ITEM 5. MARKET FOR THE REGISTRANT'S COMMON STOCK AND RELATED SECURITY HOLDER
        MATTERS

      Our Common Stock is listed on the OTC Electronic  Bulletin Board under the
symbol  "CCGC".  There  are  334,435  unrestricted  shares of our  common  stock
outstanding thereby creating a limited public market

Shares Issued in Unregistered Transactions

      During the last two fiscal years,  CCC Globalcom  issued its securities in
non-registered  transactions  pursuant to the exemption provided by Section 4(2)
of the  Securities  Act of 1933, as amended.  We did not pay a commission or any
finders'  fees  in  connection  with  such  transactions  nor  did  any  general
solicitation   occur  in  any  transaction.   The  securities   issued  in  such
transactions (all with restrictive legends) were as follows:




                                      13

<PAGE>




Holders

      As of March 27,  2001,  there  were  32,241,403  shares  of  common  stock
outstanding and  approximately  333  stockholders of record of common stock. The
number of  stockholders  of record does not include an  indeterminate  number of
stockholders  whose  shares are held by brokers  in  "street  name."  Management
believes there are in excess of 400 beneficial stockholders of our common stock.

Dividends

      We have not  paid any cash  dividends  since  its  inception  and does not
anticipate or contemplate paying dividends in the foreseeable  future. It is the
present  intention  of  management  to  utilize  all  available  funds  for  the
development of our business.


ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATION

General

      CCC Globalcom  Corporation  (the  "Company")  was, prior to June 12, 2000,
named Emerald Capital  Investments,  Inc. On June 9, 2000, the Company commenced
operations in the  telecommunications  industry  through the  acquisition of CCC
Globalcom,  Inc. a Texas corporation ("CCC Texas"). CCC Texas was formed in 1999
to  commence  operations  in the  telecommunications  industry.  CCC  Texas  has
conducted no operations  except for its  acquisition  of Ciera Network  Systems,
Inc.  ("Ciera").  Ciera  commenced  operations  in 1999.  Currently,  all of the
Company's  operations are conducted by Ciera.  The Company's  acquisition of CCC
Texas, and as result of such acquisition, the acquisition of Ciera, is accounted
for as a reverse  merger.  We have only  recently  commenced  operations  in the
telecommunications  industry,  and we are a switchless or  non-facilities  based
company  offering  residential  customers and small to medium sized businesses a
wide  variety  of bundled  voice and data  telecommunications  services.  We are
primarily a reseller of voice and data telecommunications services.

Results of Operations

      Our revenues are derived from the sale of  telecommunications  services to
residential  and  business  customers.  Currently  we have a  limited  number of
customers and are  primarily  conducting  operations in the State of Texas.  Our
business plan includes  plans for expansion  into other states and various Latin
American countries.  Although our subsidiary Ciera commenced operations in 1999,
we continue to be in early  stages of  development  and our future  revenues are
dependent upon our ability to expand our customer base either through internally
generated growth or through

                                      14

<PAGE>



acquisitions.  Effective June 30, 2000, we acquired the customer base of Virtual
Network Company. This customer base consisted of approximately 3,400 customers.

      Because we have been  operating  in the  telecommunication  industry  only
since  January,  1999,  and because we are still in the early stages of pursuing
our  business  plan,  the  comparative  numbers  between 1999 and 2000 are not a
meaningful indication of future results.

      Revenues for the year ended December 31, 2000 were $1,827,364  compared to
$51,301 for the year ended December 31, 1999. Revenues are derived from the sale
of  telecommunications  services.  The  increase in revenues  for the year ended
December 31, 2000  compared to the year ended  December  31, 1999 was  primarily
attributed  to the fact that 1999 was a period of start-up  while  operations in
2000, included  internally  generated customer growth and customers derived from
the Virtual Network acquisition.

      Cost of Sales.  For the year ended  December 31,  2000,  our cost of sales
were  $1,425,260  compared to $66,564 for the year ended  December 31, 1999. The
increase in costs of sales for both the year ended December 31, 2000 compared to
the year ended December 31, 1999 was primarily  attributed to the fact that 1999
was a period of start-up  while  operations  in 2000,  included  internally  and
externally  generated  customer  growth  attributing to increased  revenues with
attendant increased costs of sales.

      Gross  Margins.  Gross  margins were gross profit of $402,104 for the year
ended  December 31, 2000  compared to a gross loss of $15,263 for the year ended
December  31, 1999.  This  significant  increase is the result of a  significant
increase in revenues  relating to the startup of our operations  during the last
year.

      General and  Administrative  Expenses.  General and  administrative  (G&A)
expenses  were 121% of revenue for the year ended  December  31, 2000 and 1,288%
for the year ended December 31, 1999. G & A expenses increased from $660,752 for
the year ended  December 31, 1999 to $2,219,005  for the year ended December 31,
2000.  The increase in G & A expenses was  attributed to an overall  increase in
operations, other activities, staffing and professional fees. We anticipate that
the  total  dollar  amount  of G & A  expenses  will  continue  to  increase  as
operations increase through acquisitions or internal growth.

      Net Loss. We had a net loss of $1,789,567  for the year ended December 31,
2000  compared to a net loss of $727,808  for the year ended  December 31, 1999.
The increase in total net loss was due to  increased  expenses  associated  with
developing an infastructure required to implement the company's business plan.


                                      15

<PAGE>



Liquidity and Capital Resources

      At December 31, 2000, our working capital was $1,116,966.  During the year
ended December 31, 2000, we raised approximately in net capital from the sale of
our common stock pursuant to which we received  approximately  $3,325,000 in net
offering proceeds.

      At December  31,  2000,  we had total  assets of  $2,022,776,  total trade
liabilities   arising  in  the  normal   course  of  business  of  $374,817  and
stockholders equity of $1,647,959. Our total assets included $407,627 attributed
to  intangible  assets.  Our  intangible  assets  principally  consisted  of the
customer list purchased from Virtual Network Company.

      Our  primary  needs  for  capital  are  to  fund  acquisitions,   purchase
equipment,  and fund operations until we operate at a profit. We anticipate that
we will  continue  to operate at a deficit  through at least the third or fourth
quarters of fiscal 2001.

      In order for us to commence profitable  operations we need to increase our
revenues.  We believe that one of the most effective way of increasing  revenues
is to acquire existing operating telecommunication companies.  Acquisitions will
require the  issuance of  securities,  which will  dilute the  percentage  share
ownership fo existing shareholders.

      The  Company is  currently  raising  capital  through a Private  Placement
Memorandum ("PPM").  The PPM is selling shares for $3.25 with a minimum purchase
of 20,000 shares to pre-  accredited  investors.  The Company is seeking to sell
2,000,000  shares of its common stock under the PPM. The PPM requires no minimum
and to date the Company has raised approximately $1,500,000.

      The Company has a commitment for a $10,000,000  revolving  credit facility
with RFC Capital in connection  with the proposed  acquisition of EqualNet.  The
revolving credit facility has a 48 month term and an interest rate of prime plus
1 3/4%.  Advances under the loan are based upon a multiple of revenue.  The loan
has covenants related to financial  performance and cash flow customary to loans
of this type.

      The  Company  anticipates  that with the equity  raised in the PPM and the
revolving  enterprise loan, it will have sufficient  working capital to meet its
needs in 2001.

Inflation

      Inflation  continues to apply modest upward  pressure on the cost of goods
and services provided by CCC Globalcom. Because of restrictions on reimbursement
by  government  and private  medical  insurance  programs  and the  pressures to
contain the costs of such programs,  we bear the risk that  reimbursement  rates
set by such programs will not keep pace with inflation.


                                      16

<PAGE>



Year 2000 Compliance
      We had developed  plans to address the possible  exposures  related to the
impact on our computer  systems for the Year 2000. Since entering the Year 2000,
we have not experienced any major disruptions to our business,  nor are we aware
of any  significant  Year 2000 related  disruptions  impacting our customers and
suppliers. Furthermore, we did not experience any material impact on business at
calendar  year end. We will  continue to monitor our  critical  systems over the
next several months but do not anticipate  any  significant  impacts due to Year
2000 exposures  from our internal  systems as well as from the activities of our
suppliers and customers.

Forward Outlook and Risks

      From time to time,  CCC Globalcom may publish  forward-looking  statements
relating  to  such  matters  as  anticipated  financial  performance,   business
prospects,  technological  development,  new products,  research and development
activities and similar matters. The Private Securities  Litigation Reform Act of
1995 provides a safe harbor for forward-looking  statements.  In order to comply
with the terms of the safe harbor, CCC Globalcom notes that a variety of factors
could cause our actual  results and  experience  to differ  materially  from the
anticipated   results   or   other   expectations   expressed   in  any  of  our
forward-looking  statements.  The risks and  uncertainties  that may  affect the
operations,  performance,  development and results of CCC  Globalcom's  business
include,  but are not  limited  to,  the  following:  (a) the  failure to obtain
additional  borrowed and/or equity capital on favorable  terms for  acquisitions
and  expansion;  (b)  adverse  changes  in  federal  and state  laws,  rules and
regulations relating to home health care industry,  to government  reimbursement
policies,  to  private  industry  reimbursement  policies  and to other  matters
affecting  CCC  Globalcom's  industry  and  business;  (c) the  availability  of
appropriate   acquisition   candidates   and  the   successful   completion   of
acquisitions;  (d) the demand for our products and services; and (e) other risks
detailed in our Securities and Exchange Commission filings.

      This  Form  10-KSB  contains  and   incorporates   by  reference   certain
"forward-looking statements" within the meaning of Section 27A of the Securities
Act and Section 21E of the Exchange  Act with  respect to results of  operations
and  businesses  of CCC  Globalcom.  All  statements,  other than  statements of
historical facts,  included in this Form 10-K,  including those regarding market
trends, CCC Globalcom's financial position, business strategy,  projected costs,
and  plans  and   objectives   of   management   for  future   operations,   are
forward-looking  statements.  In general,  such statements are identified by the
use of  forward-  looking  words  or  phrases  including,  but not  limited  to,
"intended," "will," "should," "may," "expects,"  "expected,"  "anticipates," and
"anticipated"  or  the  negative  thereof  or  variations   thereon  or  similar
terminology.  These  forward-looking  statements  are  based on CCC  Globalcom's
current  expectations.  Although we believe that the  expectations  reflected in
such forward-looking  statements are reasonable,  there can be no assurance that
such expectations will prove to be correct.  Because forward-looking  statements
involve risks and  uncertainties,  CCC  Globalcom's  actual results could differ
materially.  Important  factors  that  could  cause  actual  results  to  differ
materially from our expectations  are disclosed  hereunder and elsewhere in this
Form 10-KSB. These  forward-looking  statements represent our judgment as of the
date of this  Form  10-KSB.  All  subsequent  written  and oral  forward-looking
statements  attributable  to CCC  Globalcom  are  expressly  qualified  in their
entirety by the Cautionary

                                      17

<PAGE>



Statements.  CCC Globalcom disclaims,  however, any intent or obligation to
update its forward-looking statements.

      Limited Operating History.  We provide voice and data services through the
use of the networks of other communications providers. We have been operating in
the telecommunications  business through, our subsidiary Ciera for approximately
one year. We have limited assets,  limited revenues and limited  customers.  Our
customer base and revenues are increasing on a monthly  basis.  We have operated
at a loss  since  its  inception.  There can be no  assurance  that we will ever
operate profitably. In order to significantly increase revenues, we must acquire
other  companies  as  well as  grow  internally.  Although  our  management  has
conducted  extensive  discussions  with the  principals  of several  acquisition
targets,  there can be no assurance that we can fund the  acquisitions,  that we
can complete the acquisitions or that the acquired  businesses will operate at a
profit. As a result of our limited  operating history as a non-facilities  based
integrated  communications  provider,  you have limited  operating and financial
data on which you can predict our future  performance  and base your  investment
decision.   We  cannot  assure  you  that  we  can  successfully  operate  as  a
non-facilities based communications provider.

      We Have a History of Operating Losses, and We May Not Be Profitable in the
Future.  We have incurred  significant  operating and net losses in the past and
expect to  continue  to incur  losses in the  future as we deploy  our  network,
expand our service offerings and enter new markets.  For the year ended December
31, 1999,  the Company had a net loss of $727,808.  For the year ended  December
31,  2000,  CCC  Globalcom  had a net  loss  of  $1,789,567.  As we  expand  our
operations, we expect our negative cash flow, operating losses and net losses to
continue for the foreseeable future. We cannot assure you that our revenues will
grow or that we will  achieve  profitability  in the  future.  If we continue to
generate losses without obtaining  additional funding, our ability to pursue our
business  strategy may be restricted.  We have never been  profitable and do not
expect  to become  profitable  in the near  future.  We have  invested  and will
continue to invest significant  amounts of money in our network and personnel in
order to  maintain  and  develop  the  infrastructure  we need to compete in the
markets for our services and achieve profitability

      Limited Assets and Additional  Capital Required.  As of December 31, 2000,
we had, on a consolidated basis, total assets of approximately $2,000,000. There
can be no assurance that we will realize  positive cash flow from  operations in
the  foreseeable  future.  Furthermore  our business  plan provides that we will
attempt  to  complete  additional  acquisitions.  We  estimate  that  we will be
required to raise  approximately  $25,000,000 in order to fund our business plan
during the next 24 months.  There can be no assurance that additional  financing
would be  available  to us,  or,  if  available,  that it could be  obtained  on
acceptable terms. We have financed our operations almost exclusively through the
private sales of securities.  Since we are losing money, we must raise the money
we need to continue  operations  and expand our network  either by selling  more
securities or borrowing money. If we are not able to raise additional  money, we
will not be able to implement  our  strategy for the future,  and we will either
have to scale back our  operations  or stop  operations.  Failure to obtain such
financing  could  result  in the  delay  or  abandonment  of  some or all of our
development  and  expansion  plans and  expenditures  and could  have a material
adverse effect on us.

                                      18

<PAGE>




      We Must  Expand and  Operate  Our  Network.  Our  success  and  ability to
increase  our  revenues  depends  upon our ability to deliver  telecommunication
services  which,  in turn,  depends on our ability to integrate new and emerging
technologies  and  equipment  into our  network and to  successfully  expand our
network and to increase the number of our customers significantly.

      The  Telecommunications  Market in Which We Operate Is Highly Competitive,
and We May  Not Be Able to  Compete  Effectively  Against  Companies  That  Have
Significantly  Greater  Resources  than  We Do,  Which  Could  Cause  Us to Lose
Customers   and   Impede   Our   Ability   to   Attract   New   Customers.   The
telecommunications  industry  is  highly  competitive  and  is  affected  by the
introduction  of new services by, and the market  activities  of, major industry
participants. Most of our other current competitors are substantially larger and
have greater  financial,  technical and marketing  resources than we do. We have
not achieved,  and do not expect to achieve,  a significant market share for any
of the  telecommunications  services we offer.  Many of our competitors have the
following advantages over us:

o    long-standing relationships and brand recognition with customers;

o    financial,    technical,   marketing,   personnel   and   other   resources
     substantially greater than ours;

o    more funds to deploy telecommunications services;

o    potential to lower prices of competitive  telecommunications  services that
     compete with ours;

o    fully deployed and operational networks; and

o    benefits  from  existing  regulations  that favor the  incumbent  telephone
     companies.

      We face,  and expect to continue  to face,  competition  from  current and
potential market entrants, including:

o    long distance providers seeking to enter, re-enter or expand entry into the
     local telecommunications marketplace; and

o    other  domestic  and  international  integrated  communications  providers,
     resellers,  Internet  companies,  cable  television  companies and electric
     utilities and municipalities, which are using their rights-of-way and other
     assets to enter the  telecommunications  services  market.  In addition,  a
     continuing  trend  toward  combinations  and  strategic  alliances  in  the
     telecommunications industry could give rise to significant new competitors,
     which  could cause us to lose  customers  and impede our ability to attract
     new customers.


                                      19

<PAGE>



      Resistance by Potential Customers to Enter into Service  Arrangements with
Us  May  Reduce  Our  Ability  to  Increase  Our  Revenue.  The  success  of our
telecommunications service offerings will be dependent upon, among other things,
the  willingness  of  customers to accept us as a new provider of voice and data
services.  Many of our potential customers have entered into term contracts with
incumbent telephone  providers that have penalties for early termination,  which
our potential customers may not want to incur. In addition,  potential customers
may not want to change their existing service providers for a variety of reasons
such as:

o    longstanding service relationships with existing providers;

o    potential service interruptions in switching to a new provider; and

o    existing  providers  having  financial,   technical,  marketing  and  other
     resources that are substantially greater than ours.

      We  cannot  assure  you  that we  will be  successful  in  overcoming  the
resistance  of  customers  to change  their  current  integrated  communications
providers,  particularly  those that purchase services from incumbent  telephone
companies.  The lack of such  success  would  reduce our ability to increase our
revenue.

      If Our Back  Office and  Customer  Service  Systems Are Unable to Meet Our
Needs,  We May Not Be Able to Bill  Our  Customers  Efficiently  or  Provide  an
Adequate  Level of Customer  Service.  Sophisticated  back office  processes and
information  management  systems are vital to our growth and our ability to bill
customers  accurately,   initiate  service  for  customers,   achieve  operating
efficiencies  and  improve  our  operating  margins.  Our plans to  develop  and
implement  these back office and customer  service  systems  rely,  for the most
part,  on choosing  products and  services  offered by  third-party  vendors and
integrating  these products and services into our  operations.  We cannot assure
you that these systems will perform as expected as we grow our customer base. In
addition,  our right to use these systems  depends upon license  agreements with
third-party  vendors.  If these vendors elect to cancel or not renew some or all
of these license agreements, our business may be adversely affected. Some of the
risks associated with our back office and customer service systems include:

o    the failure by  third-party  vendors to deliver their products and services
     in a timely and effective manner and at acceptable costs;

o    our failure to identify key information and processing needs;

o    our  failure  to  integrate  our  various  information  management  systems
     effectively;  - our failure to maintain and upgrade  systems as  necessary;
     and

o    our failure to attract and retain qualified systems support personnel.


                                      20

<PAGE>



      Development and Expansion Risk and Possible Inability to Manage Growth. We
are in the early stages of  operations.  Our success  will  depend,  among other
things,  on substantial  increases in customer base, on our ability to engage in
business in foreign  markets,  on the execution of agreements with the owners of
long  distance  lines or  distribution  channels,  on obtaining of  governmental
permits,  and on subsequent  developments in state and federal  regulations.  In
addition, the expansion of our business will involved acquisitions,  which could
divert the resources and management time and require  integration  with our then
existing  operations.  There can be no assurance that any acquired business will
be successfully integrated into our operations or that any such acquisition will
meet our  expectations.  Our future  performance will depend,  in part, upon our
ability to manage our growth effectively, which will require us to implement and
improve our operating,  financial and accounting systems,  to expand,  train and
manage its employee base and to effectively  manage the  integration of acquired
businesses. These factors and others could adversely affect the expansion of our
customer  base  and  service  offerings.  Our  inability  either  to  expand  in
accordance with our plans or to manage our growth could have a material  adverse
effect on our business, financial condition and results of operations.

      We Will Need to Rely on  Incumbent  Telephone  Companies  to  Successfully
Implement  Our  Services.  Their  Failure to Cooperate  with Us Could  Adversely
Affect the  Services We Offer and Cause Us to Lose  Customers.  We are, and will
continue to be,  dependent on Southwest  Bell and, as we expand our network,  on
other incumbent  telephone  companies that operate in our target market areas to
assure that we can provide our customers  uninterrupted  service and competitive
services.  The  Telecommunications  Act of 1996  requires the largest  incumbent
telephone  companies to lease or "unbundle" their network elements and make them
available   to  us  and  others  for   purchase,   as  well  as  provide   their
telecommunications  services to us and others at  wholesale  prices.  We cannot,
however,  assure you that these  elements  and  services  will be  provided in a
commercially  viable  manner  or  at  reasonable  prices.  Many  new  integrated
communications providers have experienced difficulties in working with incumbent
telephone   companies.   Problems  have  arisen  in  installing   access  lines,
implementing  interconnection  and colocation and integrating  the  preordering,
ordering,  repairing and billing  systems used by new integrated  communications
providers with the systems of incumbent telephone companies.  These problems may
impair our  reputation  with  customers  who can easily switch back to incumbent
telephone   companies  or  to  other   telecommunications   service   providers.
Coordination  and cooperation with incumbent  telephone  companies are necessary
for new integrated  communications providers such as us to provide local service
to customers on a timely, cost-effective and competitive basis. In addition, our
ability to implement  successfully our switched and enhanced  telecommunications
services  will  require  the  negotiation  of  interconnection   and  colocation
agreements with incumbent telephone  companies.  Interconnection  agreements set
forth the terms and  conditions  governing how local  integrated  communications
providers   interconnect   their  networks  and/or  purchase  or  lease  network
facilities  and services.  These  negotiations  may require  considerable  time,
effort and  expense  and the  agreements  will be  subject to federal  and state
regulation. The terms of interconnection agreements, such as our agreements with
Southwest  Bell,  typically cover a two- to three-year  period,  requiring us to
renegotiate  them  frequently.  We  cannot  assure  you  that we will be able to
renegotiate these interconnection  agreements or negotiate new agreements in our
existing and new markets on favorable terms. Delays in obtaining interconnection

                                      21

<PAGE>



agreements  may delay our entry into new markets.  In  addition,  the prices set
forth in the  interconnection  agreements  may be  subject to  significant  rate
increases at the discretion of the regulatory authority in each of the states in
which we do business.  A significant part of our cost structure depends on these
state-regulated rate structures.  We cannot assure you that the rates charged to
us under our  interconnection  agreements will allow us to offer usage rates low
enough to attract a  sufficient  number of  customers  to operate  our  business
profitably.

      If Third  Parties Do Not Provide the  Telecommunications  Products and the
Installation and Field Services That Are Critical to Our Business, We Could Lose
Customers.  Because we depend on third-party  vendors, we do not have guaranteed
capacity or control  over  delivery  schedules,  quality  assurance,  production
yields and costs.  If any of our  vendors  reduces or  interrupts  its supply of
products,  or if any significant  installer or field service provider interrupts
its service to us or fails to perform to required  specifications,  our business
could be disrupted,  which could cause us to lose  customers.  In addition,  our
suppliers  may be unable  to  manufacture  and  deliver  the  telecommunications
products  we  require.  If this were to occur,  we might be unable to deploy our
network in a timely manner, thus reducing our ability to compete.

      Declining Prices for Telecommunications  Services Could Reduce Our Revenue
and Profitability.  The  telecommunications  business is extremely  competitive.
Long  distance  prices  have  decreased  substantially  in recent  years and are
expected to continue to decline in the future.  In addition,  the long  distance
industry has  historically  experienced  high customer  attrition,  as customers
frequently  change  their  chosen long  distance  providers in response to lower
rates or promotional  incentives by  competitors.  We rely on other companies to
provide  service for all of our long distance  traffic.  As we enter  additional
markets,  we will need to  negotiate  resale  agreements  with  other  telephone
companies to provide us with long distance services.  Such agreements  typically
provide for the resale of long distance  services on a per-minute  basis and may
contain minimum volume  commitments.  Negotiation of these  agreements  involves
estimates of future supply and demand for long  distance  services and estimates
of the calling patterns and traffic levels of our customers.  If we fail to meet
our minimum  volume  commitments,  we may be obligated to pay  under-utilization
charges, and if we underestimate our need for long distance services,  we may be
required to obtain capacity through more expensive means,  which would raise our
costs and reduce our revenues.  Our failure to achieve  acceptable  profits from
our long distance business could have a material adverse effect on us. Trends in
the  pricing  for long  distance  services  may be  indicative  of trends in the
telecommunications industry. If this is the case, revenue from our other service
offerings may be subject to significant price pressure.

      An increase in the capacity of our competitors  could adversely affect our
business.  Furthermore,  the marginal cost of carrying an  additional  call over
existing  fiber optic cable is extremely  low. As a result,  within a few years,
there may be dramatic and substantial price reductions.

     Our Failure to Integrate Successfully Other Businesses We Acquire May Raise
Our Costs and Reduce Our Revenue.  As part of our business strategy,  we seek to
expand through investments

                                      22

<PAGE>



in or the acquisition of other  businesses that we believe are  complementary to
our business.  Although we regularly engage in discussions relating to potential
acquisitions,  we are unable to predict whether any  acquisitions  will actually
occur. If we acquire companies,  networks or other complementary  assets as part
of our expansion plan, we will be subject to the risks generally associated with
acquisitions.  Our ability to complete acquisitions will depend, in part, on our
ability to finance the  acquisitions  (including  the costs of  acquisition  and
integration).  Our ability may be constrained by our cash flow, the level of our
indebtedness at the time,  restrictive covenants in the agreements governing our
indebtedness,  conditions in the securities  markets and other factors,  some of
which are not within our control. If we proceed with one or more acquisitions in
which the  consideration  consists of cash, we may use a substantial  portion of
our  available  cash to  complete  the  acquisitions.  If we finance one or more
acquisitions  with the proceeds of  indebtedness,  our interest expense and debt
service  requirements  could  increase  materially.  Furthermore,  if we use our
common  stock  as  consideration  for  acquisitions,   our  stockholders   would
experience dilution of their ownership interests  represented by their shares of
common stock. The financial impact of acquisitions  could materially  affect our
business and could cause  substantial  fluctuations  in our quarterly and yearly
operating results.

      The Telecommunications Industry Is Undergoing Rapid Technological Changes,
and New  Technologies May Be Superior to the Technologies We Use. Our Failure to
Keep  up  with  Such  Changes  Could   Adversely   Affect  Our   Business.   The
telecommunications  industry  is  subject  to rapid and  significant  changes in
technology and in customer  requirements and preferences.  We have developed our
business  based,  in  part,  on  traditional  telephone  technology.  Subsequent
technological  developments  may reduce the  competitiveness  of our network and
require expensive unbudgeted upgrades or additional  telecommunications products
that could be time consuming to integrate into our business,  and could cause us
to lose  customers  and impede our ability to attract new  customers.  We may be
required  to  select  one  technology  over  another  at a time when it might be
impossible to predict with any certainty which  technology will prove to be more
economic,  efficient or capable of attracting customers. In addition, even if we
acquire new technologies, we may not be able to implement them as effectively as
other companies with more experience with those new technologies.

      Marketing   Risks.   Although   we  expect   to   market  a   variety   of
telecommunications services to customers and prospective customers, there can be
no assurance  that we will be able to attract and retain new customers or retain
and sell additional services to existing customers.

     Government  Regulation.   The  telecommunication  business  is  subject  to
significant  regulation  at the  federal,  state and local  levels as well as by
foreign governments.

      Risks of International  Operations.  We have recently commenced operations
of a communication center in Columbia, South America and our business plan calls
for  us to  expand  our  operations  on an  international  basis.  International
telecommunications  providers  compete on the basis of price,  customer service,
transmission  quality  and  breadth of service  offerings.  We  anticipate  that
carrier and prepaid card customers will be especially price  sensitive.  Many of
our larger

                                      23

<PAGE>



competitors  enjoy  economies of scale that can result in lower  termination and
network  costs.  This  could  cause  significant  pricing  pressures  within the
international communications industry. In recent years, prices for international
and other telecommunications services have decreased as competition continues to
increase  in most of the  markets  in which we  currently  compete  or intend to
compete.  We believe  competition  will intensify as new entrants  increase as a
result of the new competitive  opportunities  created by the  Telecommunications
Act of 1996,  implementation  by the Federal  Communications  Commission  of the
United States'  commitment to the World Trade  Organization,  and privatization,
deregulation  and changes in  legislation  and regulation in many of our foreign
target  markets.  We  cannot  assure  you  that  we  will  be  able  to  compete
successfully  in the future,  or that such intense  competition  will not have a
material  adverse  effect on our  business,  financial  condition and results of
operations.

      Our  Operations  May Be Affected by  Political  Changes in Latin  American
Countries  Currently,  all of  our  foreign  operations  are  in  Columbia.  The
political and economic  climate in Columbia is more uncertain than in the United
States and  unfavorable  changes could have a direct impact on our operations in
Columbia.  The Columbian  government exercises  significant  influence over many
aspects of the Columbian  economy.  A period of poor economic  performance could
reduce the demand for our services in Columbia.

      Foreign Currency Market Risk. We intend to conduct operations in South and
Central America as well as other locations outside of the United States. It will
therefore  be subject to foreign  currency  exchange  rate risk from the effects
that  exchange  rate  movements of foreign  currencies  would have on our future
costs or on future cash flows it would receive.  We do not engage in any type of
hedging transactions to minimize this risk and do not intend to do so.

ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

REMAINDER OF PAGE LEFT BLANK

                                      24

<PAGE>



                         INDEPENDENT AUDITORS' REPORT


To the Board of Directors and Stockholders of
CCC GlobalCom Corporation


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

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

In our opinion, the consolidated  financial statements referred to above present
fairly,  in all  material  respects,  the  financial  position of CCC  GlobalCom
Corporation  as of December 31, 2000,  and the results of their  operations  and
their cash flows for the year then ended in conformity  with generally  accepted
accounting principles.



                                    TANNER + CO.






Salt Lake City,  Utah March 2, 2001  except for Note 12 which is dated March 29,
2001

                                      25

<PAGE>



                         INDEPENDENT AUDITORS' REPORT



To the Board of Directors and
Stockholders  of CCC  GlobalCom  Corporation  (formerly  known as Ciera  Network
Systems, Inc.)


I  have  audited  the  accompanying   consolidated   statements  of  operations,
stockholders'  equity and cash flows for the year ended December 31, 1999 of CCC
GlobalCom  Corporation  (formerly know as Ciera Network  Systems,  Inc.).  These
consolidated  financial  statements  are  the  responsibility  of the  Company's
management.  My  responsibility  is to express an opinion on these  consolidated
financial statements based on my audit.

I conducted my audit in accordance with generally  accepted auditing  standards.
Those standards  require that I 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.
I believe that my audit provides a reasonable basis for my opinion.

In my opinion,  the consolidated  financial statements referred to above present
fairly,  in all  material  respects,  the  financial  position of CCC  GlobalCom
Corporation  (formerly know as Ciera Network  Systems,  Inc.) as of December 31,
1999, and the results of their operations and their cash flows for the year then
ended.


                              David E. Hamblin









Houston, Texas
May 20, 2000

                                      26

<PAGE>


                                               CCC GLOBALCOM CORPORATION
                                              Consolidated Balance Sheet
                                                       December 31, 2000
-------------------------------------------------------------------------------



            Assets

Current asset:
  Cash and cash equivalents                                 $  1,113,759
  Accounts receivable, net                                       365,554
  Prepaid expenses                                                 4,445
                                                            ------------

                  Total current assets                         1,483,758

Property and equipment, net                                      116,391
Goodwill, net                                                    407,627
Other assets                                                      15,000
                                                            ------------

                                                            $  2,022,776
                                                            ============

------------------------------------------------------------------------

            Liabilities and Stockholders' Equity

Current liabilities:
  Accounts payable                                          $    106,873
  Accrued expenses                                                77,366
  Current portion of long-term debt                               10,000
  Deferred income                                                172,553
                                                           --------------
                  Total current liabilities                      366,792

Long-term debt                                                     8,025
                                                            ------------

                  Total liabilities                              374,817
                                                            ------------

Commitments and contingencies                                          -

Stockholders' equity:
  Common stock, $.001 par value, authorized 100,000,000
    shares; issued and outstanding 32,325,710 shares              32,326
  Additional paid-in capital                                   4,133,008
  Accumulated deficit                                         (2,517,375)
                                                            ------------

                  Total stockholders' equity                   1,647,959
                                                            ------------

                                                            $  2,022,776
                                                            ============

                                      27

<PAGE>

                                                  CCC GLOBALCOM CORPORATION
                                       Consolidated Statement of Operations
                                                    Years Ended December 31,
-------------------------------------------------------------------------------



                                                    2000        1999
                                                 -----------------------

Net sales                                        $ 1,827,364  $   51,301
Cost of goods sold                                 1,425,260      66,564
                                                 -----------------------

                  Gross profit (loss)                402,104     (15,263)

Selling, general and administrative expenses       2,219,005     660,752
                                                 -----------------------

                  Loss from operations            (1,816,901)   (676,015)
                                                 -----------------------

Other income (expense):
  Interest income                                     15,956         423
  Interest expense                                      (384)       (892)
  Other, net                                          11,762     (51,324)
                                                 -----------------------

                                                      27,334     (51,793)
                                                 -----------------------

                  Loss before benefit for
                  income taxes                    (1,789,567)   (727,808)

Benefit for income taxes                                   -           -
                                                 -----------------------

                  Net loss                       $(1,789,567) $ (727,808)
                                                 =======================

Loss per share - basic and diluted               $    (0.06)  $   (0.24)
                                                 =======================

Weighted average shares - basic and diluted       31,384,000   3,061,000
                                                 =======================




-------------------------------------------------------------------------------
See accompanying notes to consolidated financial statements.

                                  28

<PAGE>


                                                     CCC GLOBALCOM CORPORATION
                     Consolidated Statement of Changes in Stockholders' Equity
                                        Years Ended December 31, 2000 and 1999
-------------------------------------------------------------------------------



<TABLE>
<CAPTION>
                                                                          Additional
                                                       Common Stock        Paid-in   Accumulated Stockholders'
                                                    Shares      Amount     Capital     Deficit      Equity
                                                 ------------------------------------------------------------
<S>                                                 <C>          <C>        <C>         <C>          <C>
Balance, January 1, 1999                                -       $    -   $    -      $    -       $    -           -

Shares issued for:
  Cash                                              1,362,460    136        677,864       -          678,000
  Services                                          5,404,595    541        150,459       -          151,000

Restatement for reverse acquisition of Emerald Capital
  Investments, Inc. by CCC GlobalCom (see note 1)  (3,367,480)   2,723      (2,723)       -            -

Net loss                                                -            -         -       (727,808)    (727,808)

Balance, December 31, 1999                          3,399,575    3,400     825,600     (727,808)     101,192

Shares issued for cash                              2,033,624    2,033   3,323,505        -        3,325,538

Contribution of capital                                 -            -      10,000        -           10,000

Acquisition of Emerald Capital Investments, Inc.   26,892,511   26,893     (26,097)       -              796
(see Note 1)

Net loss                                                -            -         -     (1,789,567)  (1,789,567)
                                                 ------------------------------------------------------------

Balance, December 31, 2000                         32,325,710  $32,326  $4,133,008  $(2,517,375) $ 1,647,959
                                                 ============================================================
</TABLE>



See accompanying notes to consolidated financial statements.


                                   29

<PAGE>


                                               CCC GLOBALCOM CORPORATION
                                    Consolidated Statement of Cash Flows
                                                Years Ended December 31,
-------------------------------------------------------------------------------


                                                    2000        1999
                                                ------------------------

Cash flows from operating activities:
  Net loss                                      $ (1,789,567)  $(727,808)
  Adjustments to reconcile net loss to net cash
    (used in) operating activities:
      Depreciation and amortization                  128,934      17,188
      Gain on disposal of assets                       1,276           -
      Stock issued for services                            -     151,000
      (Increase) decrease in:
            Accounts receivable                     (682,524)    (22,182)
            Prepaid expenses                          (1,712)     (2,733)
            Other assets                             (10,000)     (5,000)
      Increase (decrease) in:
            Accounts payable                          52,580      54,293
            Accrued expenses                          14,537      63,625
            Deferred income                          172,553           -
                                                ------------------------

                  Net cash used in
                  operating activities            (2,113,923)   (471,617)
                                                ------------------------

Cash flows from investing activities:
  Capital expenditures                               (84,568)    (97,696)
  Purchase of intangible assets                     (150,000)          -
                                                ------------------------

                  Net cash used in
                  investing activities              (234,568)    (97,696)
                                                ------------------------

Cash flows from financing activities:
  Payments on long-term debt                          (6,389)     (5,638)
  Principal borrowings on long-term debt               8,025      32,027
  Proceeds from issuance of stock                  3,325,538     678,000
                                                ------------------------

                  Net cash provided by
                  financing activities             3,327,174     704,389
                                                ------------------------

                  Net increase in cash               978,683     135,076

Cash, beginning of year                              135,076           -
                                                ------------------------
Cash, end of year                               $  1,113,759  $  135,076
                                                ========================


-------------------------------------------------------------------------------
See accompanying notes to consolidated financial statements.

                                  30

<PAGE>


                                          CCC GLOBALCOM CORPORATION
                                          Consolidated Statement of Cash Flows
                                          Continued
-------------------------------------------------------------------------------

Supplemental disclosure of cash flow information:     2000       1999
                                                   ---------------------

Cash paid during the year for:
  Interest                                         $     384   $    892
                                                   =====================

  Income taxes                                     $      -    $     -
                                                   =====================


December 31, 2000

o    For  financial  statement  purposes,  the  Company  purchased  all  of  the
     outstanding common stock of Emerald Capital Investments,  Inc. in a reverse
     acquisition  transaction.  The Company  issued  shares of common  stock and
     record net liabilities from the acquisition of $796.

o    The  Company  recorded  a  capital  contribution  of  $10,000  through  the
     extinguishment of debt.

o    The Company acquired the assets of Virtual Network Systems, which consisted
     primarily of a customer  list,  for $150,000 cash and by reducing  accounts
     receivable  owed by Virtual Network System of $339,152,  thereby  recording
     goodwill in the amount of $489,152.




-------------------------------------------------------------------------------
See accompanying notes to consolidated financial statements.

                                  31

<PAGE>


                                                     CCC GLOBALCOM CORPORATION
                                    Notes to Consolidated Financial Statements
                                                    December 31, 2000 and 1999
-------------------------------------------------------------------------------
1. Organization and Significant Accounting Policies

Organization
CCC GlobalCom Corporation (the "Company") was named Emerald Capital Investments,
Inc prior to June 12, 2000. On June 9, 2000, the Company commenced operations in
the telecommunications industry though the acquisition of CCC GlobalCom, Inc., a
Texas  Corporation  ("CCC  Texas").  CCC  Texas was  formed in 1999 to  commence
operations in the telecommunications industry. CCC Texas conducted no operations
except for the  acquisition  of Ciera Network  Systems,  Inc.  ("Ciera").  Ciera
commenced  operations in 1999.  Currently,  all of the Company's  operations are
conducted by Ciera.  The Company's  acquisition of CCC Texas, and as a result of
such  acquisition,  the  acquisition  of Ciera,  is  accounted  for as a reverse
merger. Accordingly, for accounting purposes, Ciera is deemed to be the survivor
of such acquisition and as such the financial  statements presented are those of
the operations of Ciera.  Separate  operations of Emerald  Capital  Investments,
Inc. are not presented as the amounts are not significant.


Principles of Consolidation
The consolidated  financial  statements  include the accounts of the Company and
its  wholly  owned  subsidiaries.  All  significant  intercompany  balances  and
transactions have been eliminated in consolidation.


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


Property and Equipment
Property and  equipment  are recorded at cost,  less  accumulated  depreciation.
Depreciation  and  amortization on capital leases and property and equipment are
determined using the  straight-line  and accelerated  methods over the estimated
useful lives of the assets or terms of the lease.  Expenditures  for maintenance
and repairs are expensed when incurred and  betterments are  capitalized.  Gains
and losses on sale of property and  equipment  are reflected in the statement of
operations.



                                  32

<PAGE>


                                                     CCC GLOBALCOM CORPORATION
                                    Notes to Consolidated Financial Statements
                                                    December 31, 2000 and 1999
                                                                     Continued
-------------------------------------------------------------------------------



1. Organization and Significant Accounting Policies Continued

Goodwill
Goodwill is amortized  on a  straight-line  basis over three years.  The Company
assesses  recoverability  of this  intangible  asset by determining  whether the
amortization  of the goodwill  balance over its remaining  life can be recovered
through undiscounted future operating cash flows of the acquired operation.  The
amount of goodwill impairment, if any, is measured based on projected discounted
future  operating  cash flows using a discount rate which reflects the Company's
average cost of funds.


Revenue Recognition
Revenues are derived primarily from sales of local and  long-distance  telephone
service.  Revenues  are  recorded  in the month  that  services  are  performed.
Deferred revenues arise primarily from pre-billing for local telephone services.
These amounts are recognized over the period for which the service is provided


Advertising
The Company  expenses the cost of advertising  as incurred.  For the years ended
December 31, 2000 and 1999,  advertising expenses totaled  approximately $17,000
and  $5,000,  respectively,  and are  included  in  general  and  administrative
expenses in the accompanying statement of operations.


Income Taxes
The Company  accounts  for income  taxes using the asset and  liability  method.
Under the asset and liability  method,  deferred tax assets and  liabilities are
recognized for future tax consequences  attributable to differences  between the
financial  statement  carrying  amounts of existing  assets and  liabilities and
their  respective tax bases.  Deferred tax assets and  liabilities  are measured
using  enacted  tax rates  expected  to apply to taxable  income in the years in
which those temporary  differences are expected to be recovered or settled.  The
effect  on  deferred  tax  assets  and  liabilities  of a change in tax rates is
recognized in income in the period that includes the enactment date.


                                  33

<PAGE>


                                               CCC GLOBALCOM CORPORATION

                              Notes to Consolidated Financial Statements
                                                               Continued

------------------------------------------------------------------------------


1. Organization and Significant Accounting Policies Continued

Earnings (Loss) Per Common Share

The  computation of basic earnings  (loss) per common share is based on the
weighted average number of shares  outstanding during each year. The computation
of diluted  earnings per common share is based on the weighted average number of
shares outstanding during the year, plus the common stock equivalents that would
arise from the  exercise of stock  options and warrants  outstanding,  using the
treasury  stock  method and the average  market price per share during the year.
Options  to  purchase  1,100,000  shares of common  stock at $.25 per share were
outstanding at December 31, 2000 and 1999 respectively, but were not included in
the diluted earnings (loss) per share calculation  because the effect would have
been antidilutive.

Concentration of Credit Risk and Significant Customer
Financial   instruments   which   potentially   subject   the   Company  to
concentration  of credit risk  consist  primarily of trade  receivables.  In the
normal course of business,  the Company  provides credit terms to its customers.
Accordingly,  the Company performs  ongoing credit  evaluations of its customers
and maintains  allowances for possible  losses which,  when realized,  have been
within the range of management's expectations.

The Company's  customer base consists  primarily of  telecommunications  service
resellers  and  individuals.  Although  the Company is directly  affected by the
well-being of this industry, management does not believe significant credit risk
exists at December 31, 2000.


The Company  maintains its cash in bank deposit  accounts which,  at times,  may
exceed federally  insured limits.  The Company has not experienced any losses in
such accounts and believes it is not exposed to any  significant  credit risk on
cash and cash equivalents.


------------------------------------------------------------------------------


                                  34

<PAGE>


                                               CCC GLOBALCOM CORPORATION
                              Notes to Consolidated Financial Statements
                                                               Continued
------------------------------------------------------------------------------

Use of Estimates in the  Preparation of Financial  Statements
The  preparation  of financial  statements  in  conformity  with  generally
accepted  accounting   principles  requires  management  to  make  estimate  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 amounts in the 1999 consolidated financial statements have
been reclassified to conform with the current year presentation.

2. Accounts Receivable
Accounts receivable consists of the following:


Accounts receivable                    $    386,225
Less allowance for doubtful accounts        (20,671)
                                       ---------------
                                       $    365,554
                                       ===============


3. Property and Equipment
Property and equipment consists of the following:


Equipment                              $    117,610
Furniture and fixtures                       48,651
Leasehold improvements                        9,608
                                       ---------------

                                            175,869

Less accumulated depreciation and           (59,478)
amortization
                                       ---------------

                                       $    116,391
                                       ===============


Depreciation  expense  totaled  $42,291 and $17,187 for the years ended December
31, 2000 and 1999, respectively.



------------------------------------------------------------------------------


                                  35

<PAGE>


                                               CCC GLOBALCOM CORPORATION
                              Notes to Consolidated Financial Statements
                                                               Continued

------------------------------------------------------------------------------

4. Goodwill
Goodwill consists of the following:

Goodwill                               $    489,152
Less accumulated amortization               (81,525)
                                       ---------------

                                       $    407,627
                                       ===============


Amortization  expense  totaled  $81,525 and $0 for the years ended  December 31,
2000 and 1999, respectively.

5. Long-Term Debt
Long-term debt consists of the following:

Convertible note payable to an individual with
interest at 12%.  The note and accrued interest is
due and payable in cash or the Company's
common stock at the prevailing market price.                     $  10,000

Convertible note payable to an individual with
interest at 12%.  The note and accrued interest is
due and payable in cash or the Company's
common at the prevailing market price stock.                         8,025
                                                                ------------

      Total long-term debt                                          18,025
      Less current portion                                          10,000
                                                                ------------

                                                                $    8,025
                                                                ============



------------------------------------------------------------------------------


                                  36

<PAGE>


                                               CCC GLOBALCOM CORPORATION
                              Notes to Consolidated Financial Statements
                                                               Continued
------------------------------------------------------------------------------



Future maturities of long-term debt are as follows:


Years Ending December 31:

   2001                                $     10,000
   2002                                       8,025
   2003                                         -
   2004                                         -
   2005                                         -
                                       --------------

                                       $     18,025
                                       ==============


6. Income Taxes
The  provision for income taxes differs from the amounts which would be provided
by applying the statutory  federal income tax rate to net loss before  provision
for income taxes for the following reasons:


                                       Year Ended
                                      December 31,
                                ------------------------
                                    2000        1999
                                ------------------------

Federal income tax benefit at
statutory rate                  $   668,000  $  247,000
Change in valuation allowance      (668,000)   (247,000)
                                ------------------------

                                $      -     $     -
                                ========================





                                  37

<PAGE>


                                               CCC GLOBALCOM CORPORATION
                              Notes to Consolidated Financial Statements
                                                               Continued

------------------------------------------------------------------------------

Deferred  tax assets  (liabilities)  at December  31, 2000 are  comprised of the
following:


Net operating loss carry forward       $  1,637,000
Depreciation                                  2,000
Allowance for doubtful accounts               8,000
                                       ------------

                                          1,647,000
Valuation allowance                      (1,647,000)
                                       ------------

                                       $        -
                                       ============



A valuation  allowance has been recorded for the full amount of the deferred tax
asset because it is more likely than not htat the deferred tax asset will not be
realized.

At December 31, 2000, the Company has approximately $4,400,000 of
net operating loss carryforwards to offset future taxable income.  These
carryforwards begin to expire in 2004.

In addition,  due to substantial  changes in the Company's  ownership during the
year amounts of the NOL carryforward that can be utilized in future periods will
be limited.

7. Stock Options

As of December 31, 2000 and 1999, the Company had 55,000 options  outstanding to
purchase  shares of the Company's  common stock.  The options are exercisable at
amounts of $5.00  anytime  prior to the  expiration  date.  The  options  expire
beginning at various dates through December 31, 2002.


                                  38

<PAGE>


                                               CCC GLOBALCOM CORPORATION
                              Notes to Consolidated Financial Statements
                                                               Continued
------------------------------------------------------------------------------


Changes in stock options were as follows:

                                                  Price Range
                                        Shares    Per Share
                                      ------------------------

2000 and 1999
Granted                                   -       $    -
Expired or canceled                       -       $    -
Exercised                                 -       $    -
Total outstanding at December 31       60,000     $   5.00
Total exercisable at December 31       60,000     $   5.00




------------------------------------------------------------------------------


                                  39

<PAGE>


                                               CCC GLOBALCOM CORPORATION
                              Notes to Consolidated Financial Statements
                                                               Continued
------------------------------------------------------------------------------

8. Stock Based Compensation
The  Financial  Accounting  Standards  Board has issued  Statement  of Financial
Accounting  Standards No. 123,  "Accounting for Stock-Based  Compensation" (SFAS
123)  which  established   financial  accounting  and  reporting  standards  for
stock-based  compensation.  The new  standard  defines  a fair  value  method of
accounting  for an employee  stock  option or similar  equity  instrument.  This
statement  gives entities the choice  between  adopting the fair value method or
continuing to use the intrinsic value method under  Accounting  Principles Board
(APB) Opinion No. 25 with footnote  disclosures  of the pro forma effects if the
fair value method had been  adopted.  The  Corporation  has opted for the latter
approach. Accordingly, no compensation expense has been recognized for the stock
option plans. Had compensation  expense for the Corporation's stock option plans
been determined based on the fair value at the grant date for awards in 2000 and
1999 consistent with the provisions of SFAS No. 123, the  Corporation's  results
of operations would have been reduced to the pro forma amounts indicated below:


                                          Year Ended
                                         December 31,
                                ----------------------------
                                      2000          1999
                                ----------------------------

Net loss - as reported           $ (1,789,567   $ (727,808)
Net loss - pro forma               (1,789,567)    (727,808)
Loss per share - as reported          $  (.06)        (.24)
Loss per share - pro forma            $  (.06)        (.24)
                                ----------------------------



------------------------------------------------------------------------------


                                  40

<PAGE>


                                               CCC GLOBALCOM CORPORATION
                              Notes to Consolidated Financial Statements
                                                               Continued
------------------------------------------------------------------------------




The fair value of each option  grant is estimated in the date of grant using the
Black-Scholes option pricing model with the following assumptions:


                                 December 31,
                           ------------------------
                               2000        1999
                           ------------------------

Expected dividend yield         -0-         -0-
Expected price volatility      .01%        .01%
Risk-free interest rate       4.50%       4.50%
Expected life of options     2 years     3 years
                           ------------------------

The weighted average fair value of options granted during 2000 and
1999 are $.00.

8. Stock Based Compensation Continued
The following table summarizes  information  about stock options  outstanding at
December 31, 2000:


                            Outstanding                     Exercisable
-------------------------------------------------------------------------------
                            Weighted
                             Average
                            Remaining    Weighted                    Weighted
Range of    Number          Contractua   Average       Number        Average
Exercise  Outstanding         Life       Exercise      Exercisable   Exercise
 Prices    at12/31/00       (Years)        Price       at 12/31/00    Price
-------------------------------------------------------------------------------

$  5.00      55,000            2.0        $5.00          55,000      $  5.00

-------------------------------------------------------------------------------




------------------------------------------------------------------------------


                                  41

<PAGE>


                                               CCC GLOBALCOM CORPORATION
                              Notes to Consolidated Financial Statements
                                                               Continued
------------------------------------------------------------------------------



9. Commitments and Contingencies

Employment Agreement
The Company has entered  into  employment  agreements  with  certain  members of
management  that expire  February 16, 2004.  The  agreements  are  automatically
extended at the end of each period for three  additional  years,  unless  either
party gives written notice 60 days in advance of the renewal date. The agreement
provides the officer with an annual base salary, business expense reimbursement,
certain  employee  benefits  or  equivalent  compensation,   vacation  and  paid
holidays,  office  space and  eligibility  for:  1)  bonuses;  2) other  benefit
programs  which may be offered by the  Company to its  employees;  3) a lump sum
termination payment ranging from 200% to 300% of the officer/shareholder's gross
income for the year preceding termination.  In the event the officer/shareholder
is terminated for other than cause, the officer/shareholder  will be entitled to
receive all or part of the items noted above;  including a bonus, if paid in the
year  preceding  termination,  for the  remaining  term of the  agreement  as if
employment  had not  terminated.  The agreement must be assigned to acquiring or
successor entities and termination of the  officer/shareholder  must be approved
by a majority of the directors of the Company.

10.Fair Value of Financial Instruments
The Company's financial instruments consist of cash, receivables,  payables, and
notes  payable.  The  carrying  amount  of  cash,   receivables,   and  payables
approximates  fair value because of the  short-term  nature of these items.  The
carrying  amount of notes  payable  approximates  fair  value as the  individual
borrowings bear interest at market interest rates.



------------------------------------------------------------------------------

                                  42

<PAGE>


                                               CCC GLOBALCOM CORPORATION
                              Notes to Consolidated Financial Statements
                                                               Continued
------------------------------------------------------------------------------


11.Recent Accounting Pronouncements
SFAS No. 133, Accounting for Derivative Instruments and Hedging Activities,
was issued in June 1998 and  amended by SFAS No. 138,  issued in June 2000.  The
requirements  of SFAS No. 133, as amended,  will be effective for the Company in
the first  quarter of the fiscal year  beginning  January 1, 2001.  The standard
establishes  accounting  and  reporting  standards  for  derivative  instruments
embedded in other  contracts  and for hedging  activities.  Under the  standard,
certain contracts that were not formerly considered derivatives may now meet the
definition  of a  derivative.  The  Company has  determined  SFAS 133 to have no
impact on the Company's financial position and results of operations because the
Company has no derivative  activity.  SFAS No. 140, Accounting for Transfers and
Servicing of Financial Assets and Extinguishments of Liabilities,  was issued in
September  2000.  SFAS No. 140 is a replacement of SFAS No. 125,  Accounting for
Transfers and Servicing of Financial Assets and  Extinguishments of Liabilities.
Most of the  provisions  of SFAS No.  125 were  carried  forward to SFAS No. 140
without  reconsideration by the Financial Accounting Standards Board (FASB), and
some were changed only in minor ways. In issuing SFAS No. 140, the FASB included
issues and decisions that had been  addressed and determined  since the original
publication of SFAS No. 125. SFAS No. 140 is effective for transfers after March
31,  2001.  Management  does not expect the  adoption  of SFAS No. 140 to have a
significant  impact on the  financial  position or results of  operations of the
Company.


12.Subsequent Events
On February  21,  2001,  the Company  entered  into a  preliminary  agreement to
purchase  the assets of Equalnet,  a  telecommunications  company,  for cash and
assumption of liabilities.  The agreement was amended March 23, 2001.  According
to the agreement,  the Company will pay $500,000 cash and assume the liabilities
of  Equalnet  not  to  exceed  $7,500,000.  The  agreement  is  contingent  upon
completion of several issues  including  final approval by the bankruptcy  court
handling the Equalnet Chapter 11 bankruptcy.


                                  43

<PAGE>


The Company is in the  process of a private  placement,  wherein the Company is
raising up to $2,000,000 of additional  equity. As of March 29, 2001 the Company
has raised through the private placement $1,510,427 of gross proceeds.  There is
no minimum to the private placement.




                                  F-43

<PAGE>



ITEM 9.  CHANGES AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
         DISCLOSURE

      NONE.

                                PART III

ITEM 10.    DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS;
            COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.

      A.  Identification  of  Directors  and  Executive  Officers.  The  current
directors  and officers of CCC  Globalcom,  who will serve until the next annual
meeting of shareholders  or until their  successors are elected or appointed and
qualified, are set forth below:

      Name                          Age     Position
-------------------------------------------------------------------------------
  Ziad A. Hakim                     44      Chairman/CEO/Director
  Paul E. Licata                    51      Vice Chairman/President/Director
  Gary A. Allcorn                   48      Chief Financial Officer


     Ziad A.  Hakim.  Mr.  Hakim,  as an  engineer,  businessman  and  corporate
executive has extensive global expertise in the telecommunication arena, through
individual  and  joint  ventures  has  established  Internet,  Private  Line and
Cellular   Phone   companies   in  several   countries   around  the  world  and
telecommunications  presence  in  Venezuela,   Ecuador,  Peru,  Antigua/Barbuda,
Anguila, Ivory Coast and in Benin, Africa. Mr. Hakim has served as petroleum and
Telecommunications  advisor to the  Government  of Grenada,  Ukraine,  Benin and
Ecuador.  Mr. Hakim served as the Chairman of CCOM of Venezuela  and Peru and as
President  for  POINTECOM  for the  International,  Central  and South  American
market.  Most recently served as Chief Executive  Officer of Commodity  Customer
Corporation,  a consulting firm, including implementations of telecommunications
network in America.  Mr.  Hakim,  holds a B.S. in  Electrical  Engineering  from
Florida Institute of Technology.

     Paul E. Licata. Mr Licata has practiced law in Houston,  Texas for the past
26 years.  His practice has included  business and corporate law matters as well
as litigation.  He earned his undergraduate  degree from the University of Texas
and his law  degree  from the  University  of  Houston.  He has taken a leave of
absence  from  his law  practice  to  devote  his  time  fully  to the  business
development  of  CCC  Globalcom.   During  his  legal  career,  Mr.  Licata  has
represented  various  corporations,  both  foreign and  domestic  and has headed
foreign companies'  investments into the U.S. real estate market. Mr. Licata has
also been

                                  44

<PAGE>



instrumental in U.S. companies obtaining licenses to do  telecommunications
business in South America. Mr. Licata is licensed in the Supreme Court of Texas,
all federal courts in Texas, including the Court of Appeals, and licensed in the
Supreme Court of the United States.

     Gary  Allcorn.  Mr.  Allcorn  has been the Chief  Financial  Officer of the
Company since October 2000.  From 1996 to November  2000, Mr. Allcorn was Senior
Vice president and CFO of DXP Enterprises,  Inc., a publicly held company.  From
1985 to 1996, he was Senior Vice President/  Finance for SEPCO Industries,  Inc.
Mr.  Allcorn  is a  certified  public  accountant.  He  earned  his  MBA and his
bachelor's degree in accounting from the Texas A & M University.

      B.    Significant Employees.

     Robert Livingston.  Mr. Livingston formed Ciera in December 1998. From 1997
to 1998 he was an officer of Wireless Communications Technology, Inc. a cellular
telephone  operator  in  Africa.  From 1996 to 1997,  he was an  officer  of GST
Telecommunications,  a publicly traded telecommunications  company. From 1987 to
1995,  he was CEO of  Texas-Ohio  Communications  a switchless  reseller of long
distance telephone service.

     James H. Jarrett.  Mr. Jarrett formed Ciera in December 1998. He worked for
Wireless  Communications  Technology,  Inc. from May 1998 to December 1998. From
1997 to 1998,  he was an officer of GST  Telecommunications,  a publicly  traded
telecommunications company.

      C.  Family  Relationships.  There  are no family  relationships  among CCC
Globalcom's officers and directors.

      D. Other  Involvement  in Certain  Legal  Proceedings.  There have been no
events under any  bankruptcy  act, no criminal  proceedings  and no judgments or
injunctions  material to the  evaluation  of the ability  and  integrity  of any
director or executive officer during the last five years.

      E.    Compliance With Section 16(a).  Inapplicable.

ITEM 11.    EXECUTIVE COMPENSATION

     The  following  table sets  forth the  aggregate  compensation  paid by CCC
Globalcom  for  services  rendered  during  the last  three  years to our  Chief
Executive Officer and to our most highly  compensated  executive  officers other
than the CEO, whose annual salary and bonus exceeded $100,000:



                                  45

<PAGE>


<TABLE>
<CAPTION>

                       SUMMARY COMPENSATION TABLE

                                      Annual Compensation
                                  ----------------------------

                                              Commissions
Name and                                        and         Other Annual    Restrict    Options/
Principal                           ($)        Bonuses      Compensation   Stock Awards  Stock
Postition                Year       Salary       ($)            ($)            ($)        (#)
--------------------------------------------------------------------------------------------------------------------
<S>                      <C>        <C>         <C>             <C>           <C>         <C>


Ziad A. Hakim            2000       $145,833    -0-             -0-           -0-         -0-
CEO

Paul E. Licata           2000       $109,169    -0-
 President                                                      -0-           -0-         -0-

Robert Livingston        2000       $120,000   $25,000          -0-           -0-         -0-
President of Ciera

James Jarret             2000       $ 96,000   $25,000          -0-           -0-         -0-
Vice President of Ciera

</TABLE>


      We  anticipate  that  Mr.  Hakim  will be paid a salary  of  approximately
$250,000 during the next year, Mr. Licata will be paid a salary of approximately
$192,000  during  the  next  year  and Mr.  Allcorn  will be  paid a  salary  of
approximately $140,000 during the next year.

Stock Options Granted in the Last Fiscal Year

      No stock options were granted to management during 2000.

Aggregate Option Exercises and Number/Value of Unexercised Options

      The Company's  current  officers and directors hold no options or warrants
to purchase shares of the Company's common stock.

Compensation of Directors

      CCC has no  non-employee  directors.  Its employee  directors  received no
additonal compensation for serving as directors of CCC Globacom.

Employment Agreements


                                  46

<PAGE>



      The Company has entered into employment  agreements with Messieurs  Hakim,
Licata, Allcorn,  Livingston and Jarrett. The agreements for Messieurs Hakim and
Licata expires  February 16, 2004 and Mr.  Allcorn's  expires February 16, 2003.
Messieurs  Hakim and Licata's  agreement  extends for an  additional  three year
period on the anniversary  date of the agreement  unless notified by the Company
that it will not extend the  agreement.  Mr.  Allcorn's  agreement  provides for
automatic extensions for a two year period.  Messieurs Hakim, Licata and Allcorn
will receive  base  salaries of  $250,000,  $192,000 and $140,000  respectively,
business expense reimbursement, participate in employee benefit programs offered
by CCC Globalcom to its employees and, a lump sum  termination  payment  ranging
from  200%  to 300%  of the  officer/shareholder's  gross  income  for the  year
preceding  termination  in the event the  officer/shareholder  is terminated for
other than cause.

     Mr.  Livigston and Mr. Jarret have employment  agreements which provide for
annual  compensation  of $120,000 and $96,000,  respectively.  In addition,  the
employment  agreement  provides that Mr. Livingston and Mr. Jarrett will each be
paid 1% of the revenues from the Company's  CLEC  operations.  These  employment
agreements expire June 1, 2005.


ITEM 12.    SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

Security Ownership of Certain Beneficial Owners

      The  following  table  sets  forth  information  regarding  shares  of CCC
Globalcom's  common stock  beneficially  owned as of March 22, 2001 by: (i) each
officer and director of CCC  Globalcom;  (ii) all  officers  and  directors as a
group;  and (iii) each  person  known by CCC  Globalcom  to  beneficially  own 5
percent or more of the outstanding shares of CCC Globalcom's common stock.


Name of                       Amount and Nature                  Percent of
Beneficial Owner              Beneficial Ownership(1)              Class
-------------------------------------------------------------------------------
Ziad A. Hakim (2)                   15,500,000                      48%
Paul E. Licata (3)                   2,000,000                       6%
Gary A. Allcorn                          -0-                        -0-
Douglas P. Morris (4)                2,939,007                       9%
CCC Communications, LTD.(5)          3,000,000                       9%
AMT Trading (5)                      7,000,000                      22%
Robert Livingston                      757,973                       2%
Sam Janett                             757,973                       2%
All officials directors as a group  21,955,017                      68%

                                   47

<PAGE>




      (1) Excludes shares which may be issued upon the exercise of options owned
      by the  above-referenced  persons  which are  described  elsewhere in this
      Memorandum.

      (2) Mr.  Hakim is the  owner of  5,500,000  of  these  shares.  A total of
      3,000,000  of  these  shares  is owned by CCC  Communications,  LTD.,  and
      7,000,000  of  these  shares  are  owned  by AMT  Trading,  both of  which
      companies are affiliates of Mr. Hakim.

      (3) A total of 1,000,000  of these  shares are owned by Paul Licata,  P.C.
      and 1,00,000 of these shares are owned by 1999 DC Trust, both of which are
      affiliates of Mr.
      Licata.

      (4) These shares are owned by Mr. Morris or his affiliates as follows: (i)
      Douglas P.  Morris -  1,000,000  shares;  (ii)  Douglas P.  Morris - IRA -
      300,000 shares; (iii) Hyacinth Resources,  Inc. - 639,007 shares; and (iv)
      H&M Capital Investment, Inc. - 1,000,000 Shares.

      (5)These shares are also  included in the shares  attributed to Mr. Hakim
      (see footnote 2).

Options

      The Company has the following options issued and outstanding:

Holder             Number of Shares       Exercise Price    Expiration Date
-------------------------------------------------------------------------------
Frank Ross                25,000               $5.00        12/31/2002
Douglas P. Morris         17,500               $5.00        12/31/2002
Henry Obartuch            17,500               $5.00        12/31/2002

      We  anticipate  that  we  will  grant  additional   options  to  officers,
directors,   employees   and   consultants   from  time  to  time  as  incentive
compensation.

Security Ownership of Management

      See Item 4(a) above.

Changes in Control

      No changes in control of CCC Globalcom are currently contemplated.


                              48

<PAGE>



ITEM 13. CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS

      On June 12,  2000,  we  finalized  our  acquisition  of CCC  Texas and its
subsidiary,  Ciera. In connection with such  acquisition,  we took the following
action:

o    We effected a 1-for-20  reverse  split  ("Reverse  Split) of our issued and
     outstanding shares of Common Stock and our outstanding stock options.  As a
     result of the  Reverse  Split,  the  6,868,698  shares of our common  stock
     issued and outstanding were reduced to 343,435 shares of common stock.

o    We acquired by Merger CCC Texas.  As part of the Merger,  all of the shares
     of CCC  Globalcom  issued at the time of the  Merger  were  converted  into
     30,250,000  shares of the  Company's  Common  Stock  (calculated  after the
     Reverse Split).

o    As a result of the Merger,  CCC Texas became a  wholly-owned  subsidiary of
     the Company. Ciera is a wholly-owned subsidiary of CCC Texas.

o    We  completed  a private  placement  of our  Common  Stock in which we sold
     1,000,000 shares at a price of $1.50 per share.

o    We agreed to issue the CCC Texas  Shareholders  30,250,000 of our shares in
     the Merger in  expectation  that two additional  acquisitions  by CCC Texas
     will be completed  after the closing of the Merger.  If these  acquisitions
     are not completed,  a portion of the 30,250,000 Shares issued in the Merger
     will be  canceled.  We have agreed with certain  shareholders  of CCC Texas
     that  17,700,000 of the  30,250,000  Shares issued in the Merger were to be
     deposited  into an  escrow  pending  the  completion  of  these  additional
     acquisitions. One-half of these shares will be released from escrow when an
     initial  acquisition is completed and the remaining shares will be released
     from the escrow when a second acquisition is completed.

o    As a result of the Merger,  the  officers and  directors  of CCC  Globalcom
     became the officers and  directors of the Company.  Douglas P. Morris,  who
     was already a director of the Company, agreed to remain as a director for a
     limited  period of time  following  the  Merger.  Mr.  Morris has  recently
     resigned  as a  director  of  the  Company  but  continues  to  serve  as a
     consultant to the Company.

o    We changed our name from Emerald Capital Investments, Inc. to CCC
     Globalcom Corporation.

                                  49

<PAGE>





o    We  changed  our  domicile  or state  of  incorporation  from the  state of
     Delaware to the State of Nevada

o    Certain  persons were issued a total of 9,050,000  shares of the  Company's
     common stock for services  rendered in  connection  with the Merger.  These
     persons were issued shares of CCC Texas and then converted such shares into
     shares of the Company's  Common Stock in the Merger.  Douglas P. Morris and
     his affiliates were issued 3,650,000 of these shares in the Merger.

Consulting Agreement

      On January 11, 2001, the Company entered into a Consulting  Agreement with
Hyacinth  Resources,  Inc.,  an affiliate of Douglas P. Morris.  Mr.  Morris was
previously  and a director of the  Company  and,  prior to the  Merger,  was the
president of Emerald Capital Investments,  Inc. Under the consulting  agreement,
the  Company  paid  $60,000  to  Hyacinth  Resources  for a one  year  financial
consulting agreement.

Parents of Company

      The  only  parents  of CCC  Globalcom,  as  defined  in Rule  12b-2 of the
Exchange Act, are the officers and directors of CCC Globalcom.  For  information
regarding the share holdings of CCC Globalcom's officers and directors, see Item
12.

ITEM 14.    EXHIBITS, FINANCIAL STATEMENTS, SCHEDULES AND REPORTS ON FORM 8-K

  A.  The  Exhibits  which are filed with this Report or which are  incorporated
      herein by reference  are set forth in the Exhibits  Index which appears on
      page 51.

  B.  On  October  10,  2000,  CCC  Globalcom  filed an  amended  Form 8-K which
      included the financial  statements  of CCC Texas and Ciera,  required as a
      result of the merger effected in June 2000.


                                  51

<PAGE>


Exhibits to Form 10-KSB
                                                             Sequentially
  Exhibit                                                      Numbered
  Number    Exhibit                                             Page
------------------------------------------------------------------------------
   2.1       Agreement and Plan of Merger (1)                    N/A

   3.1      Articles of Incorporation(1)                         N/A

   3.2      Bylaws(1)                                            N/A

  10.1      Employment Agreement - Ziad Hakim(2)                 56

  10.2      Employment Agreement - Ziad Hakim(2)                 68

  10.3      Employment Agreement - Paul Licata(2)                87

  10.4      Employment Agreement - Ziad Hakim(2)                 99

  10.5      Employment Agreement - Gary Allcorn(2)              118

  10.6      Employment Agreement - Ziad Hakim(2)                130

  11.1      Schedule of Weighted Average Shares(2)               54

  21.1      Subsidiaries of Registrant(2)                        55


(1) Previously filed.
(2) Attached


                                  52

<PAGE>



                               SIGNATURES

  In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934,
the Registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

                           CCC Globalcom Corporation.


Date: March 30, 2001       By/s/ Ziad H. Hakim
                                 Ziad H. Hakim CEO
                                 Principal Executive Officer

Date: March 30, 2001       By/s/ Gary Allcorn
                                 Gary Allcorn, CFO
                                 Principal Financial Officer

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

Signature                           Capacity                Date

/s/ Ziad H. Hakim                   CEO/Director            March 30, 2001
Ziad H. Hakim

/s/ Paul Licata                     President/Director      March 30, 2001
Paul Licata


                                  53